Thrive Business Grant (TBG) is sponsored by Trophy Club Economic Development Corporation (EDC). The Thrive Business Grant is an initiative by the Trophy Club Economic Development Corporation to support local businesses through reimbursable matching grants for improvement projects.

Thrive Business Grant | Trophy Club, TX Read the Latest Town Weekly Newsletter The Thrive Business Grant (TBG) is an initiative aimed at supporting local businesses within the Town by providing reimbursable matching grants for various improvement projects. The program seeks to enhance businesses' visual appeal and overall competitiveness, ultimately driving economic growth and community prosperity.

The Trophy Club Economic Development Corporation (EDC) is dedicated to driving economic progress within the town. Its core mission is to actively foster employment opportunities and enhance the community's overall well-being by spearheading, developing, facilitating, and financing projects in accordance with the Economic Development Act.

The Town’s Economic Development Corporation (EDC) allocated $300,000 in 2023 to stimulate economic growth, encourage revitalization, and improve community prosperity. Grants are available up to $20,000, with a 75% matching funding (businesses must contribute at least 25%), with funding provided after the completion of work, following a thorough application process and approval.

The program fosters external and internal enhancements and furnishes essential equipment to facilitate expansion and operational efficiency. The overarching objective is to maintain Trophy Club's small-town charm and stimulate customer growth within the Town. Each applicant will be evaluated on a case-by-case basis to help businesses achieve success in Trophy Club.

2024 Application Timeline: *All Cycle 1 Thrive Business grantees have successfully completed the grant process. 2025 Application Timeline: *All Cycle 2 Thrive Business grantees have successfully completed the grant process.

2026 Application Timeline: ✔ April 13, 2026: Thrive Business Grant Launch June 15, 2026: Deadline for All Applications June 15, 2026 - July 20, 2026: Economic Development Corporation Reviews/Approves Applications August 2026: Town Council Approval August - October 2026: Performance Agreements Finalized August - December 2026: Projects Start October 2027: Project Completion Due Date *Apply for the application online *Email additional application materials to [email protected] Property Owner Written Approval Project Details/Comprehensive Plan Two quotes, plus one local quote While the Town will review all TBG applications that align with the eligibility criteria, it places particular emphasis on supporting projects poised to influence the Town and its economic landscape substantially.

This includes generating increased business activity, making significant financial investments, facilitating revitalization efforts, and ensuring the retention or expansion of existing employers.

Eligible applicants must either be property owners or tenants situated within the Town of Trophy Club; Tenants must obtain written approval from property owners in order to participate in the program; Prior to participating in the program, applicants must ensure they are current with all municipal tax obligations; Applicants are required to have no Town liens recorded against any property owned by them, encompassing but not limited to liens for weed control, demolition, board-up/open structure, and outstanding payments; All applicants have to be located within Trophy Club; All applicants are required to adhere to both state and local laws and regulations governing licensing, permits, building codes, and zoning requirements; Excluded from consideration are government offices, residential properties, home-based enterprises, religious organizations, churches, as well as establishments dealing in sexually-oriented or smoking paraphernalia products; and Applicants must demonstrate financial stability and a clear project completion plan.

Façade Improvements : Grants may be used to enhance the exterior appearance of businesses, including; Improvements to an existing exterior structure, Improvements to public facing façade(s), General building/property beautification, including landscape.

Interior Renovations : Funding can be allocated for interior renovations, such as; Remodeling enhancements that improve the customer experience, General maintenance includes HVAC, plumbing, electrical, etc. Equipment Purchases : Grants can cover the cost of purchasing new equipment or upgrading existing machinery to increase operational efficiency and productivity.

Signage : Grants can cover the cost of purchasing signage off-site to promote and market their business. Applications must be made prior to work beginning. No grants will be awarded for work that has already started, in progress, or completed.

The following map illustrates the area within which an applicant's businesses must be located to be eligible for the Thrive Business Grant program. Work must begin within six months from the date of the award. Grant funds are paid out on a reimbursement basis once completed work has been verified by Town staff as compliant with the plans proposed in the approved application.

Any deviation from the approved grant project may result in the total or partial withdrawal of the grant. Grants are awarded as a single payment to the applicant, excluding sales tax. The Town will not reimburse any sales tax on items purchased.

If an applicant is awarded a grant for any work performed pursuant to this program and the work is altered for any reason within one year from the date of construction, the applicant may be required to reimburse the Town of Trophy Club immediately for the full amount of the grant.

If a property is listed for sale and/or leased to a tenant for a purpose not originally intended by the grant application within one year of reimbursement, the applicant may be required to reimburse the Town of Trophy Club immediately for the full amount of the grant. Any equipment purchased using grant funds must remain within the Town of Trophy Club for the entire operational lifespan of the business.

The agreed-upon price or grant amount may be adjusted by up to 10% to account for unforeseen circumstances or price fluctuations, with a maximum grant amount of $20,000. All exterior work, including but not limited to painting (including color selections), building additions, and any changes to the exterior appearance, must be submitted to the Town of Trophy Club for approval before implementation.

Businesses must obtain and submit a minimum of three quotes: One quote from a local business (a business with a registered address in Trophy Club or owned by a Trophy Club resident). Two additional quotes from other vendors. If a local quote or any of the three required quotes cannot be obtained, the business must document its efforts to secure them, including the steps taken and the reasons the quotes could not be acquired.

The EDC Board will consider this effort in its evaluation. The grant does not reimburse international shipping or customs fees for items purchased overseas. These costs must be covered by the business owner.

Additionally, shipping costs must be itemized on the submitted quote. Each TBG application will be processed according to specific standards and procedures. One of the prerequisites is furnishing documentation confirming the absence of any outstanding property tax payments for the property.

Applicants undertaking projects that encompass the refurbishment of one or more existing structures must furnish a comprehensive plan along with quotes and cost projections for the renovations. If a project is not approved for the intended fiscal year, the application will be retained for consideration for up to one year. The TBG will announce specific periods when applications will be accepted from eligible businesses.

Interested businesses will complete and submit a application form, including property owner written approval (if applicable) project details, comprehensive plan, project cost, three quotes (if applicable), and a timeline for completion. The EDC will review applications and may approve applications based on eligibility criteria and alignment with program goals.

The approved applications will then be reviewed by the Town Manager before being submitted to the Town Council. The application review process takes up to 60 days. Selected businesses will be notified of their grant award and will receive instructions on reimbursement procedures.

Approved businesses sign a performance agreement, and will be instructed on when to begin their proposed projects and may seek reimbursement up on completion. MONITORING & ACCOUNTABILITY Progress Reporting : Grantees will be required to submit regular progress reports, including financial statements, photos, and updates on project milestones.

Final Inspection : Upon project completion, a final inspection will be conducted to ensure that the work meets the program's standards. Reimbursement Process : Grantees will submit documentation for eligible expenses, and reimbursement will be issued in accordance with the program's guidelines.

Performance Requirements: Grantees will be required to fulfill performance requirements set forth in the performance agreement, failure to meet the specific requirements in the agreement will mean repayment of 100% of grant dollars received. If the performance agreement is not signed within 60 days of receipt, the grant will be rescinded, and you will need to reapply in the next grant cycle.

The Town Council has the sole authority to approve or deny TBG applications and is not obligated to approve any. The Town retains the authority to reject an application while offering suggestions for improvements that could lead to future acceptance. The Town has the right to terminate any agreement under the TBG if a participant is found to be in violation of any conditions set forth in these guidelines.

The Town reserves the right to adjust conditions and parameters outlined in the guidelines. Established businesses are prioritized over those operational for a year or less. Multiple projects for businesses may be approved if additional funding is available.

As part of the consideration for any incentives, the Town will have the right to review and verify the applicant’s financial statements and records related to the project and the amount of any incentives that may be payable in any given year; and conduct an on-site inspection of the project in order to verify compliance with the terms and conditions of the TBG. Government Websites by CivicPlus®