OUR MISSION
To facilitate the creation of new and better jobs and enticing capital investment while diversifying the tax base.
OUR VISION FOR EASTLAND
To be a community experiencing positive growth through improved economic and job opportunities, increasing community wealth, while enhancing the quality of life for all citizens.
BUILDING EASTLAND'S FUTURE
In 1989, the Texas Legislature amended the Development Corporation Act of 1979 by adding Section 4A, which allowed the creation of development corporations that could be funded by the imposition of a local sales and use tax dedicated to economic development.
The Eastland Economic Development Corporation (EEDI) was established and authorized by the Eastland City Commission immediately following the August 1993 passage of a one-half of one-percent sales tax dedicated to economic development by the citizens of Eastland. EEDI was also incorporated in 1993 as a not-for-profit; tax exempt Texas Corporation, which is a separate entity from any other Board or Commission of the City of Eastland.
In accordance with state law a five-member Board of Directors appointed by the City Council governs the EEDI. The EEDI meets in regular session monthly to conduct the business affairs of the Corporation. The Board meetings are subject to both the Open Meetings Act and the Open Records Act. Directors serve a two (2) year term, without compensation and may be removed by the City Commission at any time without cause.
The officers of the Corporation include a Chairman of the Board, Vice-Chairman and a Secretary/Treasurer. The EEDI employs a Consultant to manage the day-to-day business affairs of the corporation. The EEDI Articles of Incorporation state the purpose of the Corporation is the promotion and development of new and expanded business enterprises to provide and encourage employment in furtherance of the public welfare. The Corporations Bylaws establish the authority and responsibilities of the Board of Directors and Officers.
The Corporation's fiscal year is October 1 to September 30. The Corporation adopts an annual budget that is approved by the City Commission. Corporate funds are maintained in separate accounts from City funds. The EEDI Board of Directors approves all expenditures of the Corporation. An accounting firm selected by the City Commission conducts a financial audit of the Corporation's funds and records annually.
An Economic Development Strategic Plan is prepared by the Corporation and presented annually to the City Commission, which serves as a yearly implementation plan of the Corporation. The plan is proactive in nature and provides a mechanism to identify and pursue economic development opportunities.
The Eastland Economic Development Corporation (EEDI) was established and authorized by the Eastland City Commission immediately following the August 1993 passage of a one-half of one-percent sales tax dedicated to economic development by the citizens of Eastland. EEDI was also incorporated in 1993 as a not-for-profit; tax exempt Texas Corporation, which is a separate entity from any other Board or Commission of the City of Eastland.
In accordance with state law a five-member Board of Directors appointed by the City Council governs the EEDI. The EEDI meets in regular session monthly to conduct the business affairs of the Corporation. The Board meetings are subject to both the Open Meetings Act and the Open Records Act. Directors serve a two (2) year term, without compensation and may be removed by the City Commission at any time without cause.
The officers of the Corporation include a Chairman of the Board, Vice-Chairman and a Secretary/Treasurer. The EEDI employs a Consultant to manage the day-to-day business affairs of the corporation. The EEDI Articles of Incorporation state the purpose of the Corporation is the promotion and development of new and expanded business enterprises to provide and encourage employment in furtherance of the public welfare. The Corporations Bylaws establish the authority and responsibilities of the Board of Directors and Officers.
The Corporation's fiscal year is October 1 to September 30. The Corporation adopts an annual budget that is approved by the City Commission. Corporate funds are maintained in separate accounts from City funds. The EEDI Board of Directors approves all expenditures of the Corporation. An accounting firm selected by the City Commission conducts a financial audit of the Corporation's funds and records annually.
An Economic Development Strategic Plan is prepared by the Corporation and presented annually to the City Commission, which serves as a yearly implementation plan of the Corporation. The plan is proactive in nature and provides a mechanism to identify and pursue economic development opportunities.