GEDC continues to process grant applications

The Gonzales Economic Development Corporation (GEDC) board is continuing to process grant applications for their recently passed financial assistance package for businesses located within the city of Gonzales that have been affected by the COVID-19 pandemic.

GEDC directors have begun the process and as of Monday morning, the board has received 31 applications, according to GEDC President Andy Rodriguez.

“This board has been adamant about not slowing down the process,” he said, “so we began reviews [Monday] in an effort to keep up with the surge of applications.”

GEDC approved grant funding of $500,000. Businesses can apply to receive $1,500 per “FTE Unit” or “full time equivalent” with the maximum cap of $12,000. 

After grants are approved, the GEDC will enter into the next phase of the project, which includes a performance agreement with the applicants. Applicants are required to enter into that agreement with the GEDC to ensure funding is used consistent with the Development Corporation Act. Failure to comply with the agreement would result in the applicant being required to reimburse to the GEDC the funds provided under said agreement.

Newly hired GEDC Interim Executive Director Kim Tucker will begin contacting businesses to coordinate the completion of the agreements. “Once the performance agreements are completed, all we have to do is wait for the date that funds can be released, by law,” Rodriguez added. “Then, we’ll begin issuing checks.”

Currently, the law requires a 60-day waiting period to grant funding. If the governor does not lift or suspend the rule, the earliest date grant funds can be released will be June 1, 2020.

The application is available online at gonzalesinquirer.com or on the city’s website. 

Applicants can also contact Tucker at gedc@gonzales.texas.gov.

Grant applications are still being accepted and businesses are encouraged to consider applying as soon as possible.