Economic Development Advisory Committee

Meetings

• 2nd Tuesday of every month
• 4:00 pm

Agendas & Minutes

Agendas are available prior to the meetings. Minutes are available following approval.

View Most Recent Agendas and Minutes

Mission

To facilitate the development of a healthy/diversified economy in which businesses can locate/relocate/grow and prosper, and all residents have opportunities for economic prosperity. Provide feedback to both the Citizens of Lago Vista and City Staff through research, information, and a common goal consistent with the City's Master Plan, Comprehensive Plan, and Council's direction.

The EDAC shall be comprised of seven members with preference given to individuals with professional expertise in the following sectors: Education, Real Estate, Industrial, Technology, Non-Profit, Small Business, Retail, Banking, and Utilities. There shall also be citizen members as well as a City Council Liaison. The Economic Development Director or his appointee shall act as the City Liaison and provide guidance and feedback.

Qualifications for Committee Members shall be that they are Citizens of Lago Vista or property owners or doing business in the City of Lago Vista and a registered voter. The Committee would meet no less than once a quarter.

The Purpose of the Committee Shall Be:

• Identify changing economic trends and development resources available to the City of Lago Vista
• Develop and advocate for an economic development strategy that maximizes commercial property tax revenues and generates employment opportunities as part of a broader, long-range strategic plan for the community as established by City Staff and Council
• Continuously review Lago Vista's regulations and zoning for consistency with the City's economic development goals, and to make any applicable recommendations to improve permitting, licensing and regulatory functions
• Promote streamlining the City's regulatory processes as related to commercial development
• Advocate for state and federal legislation and regulations that advance economic development in Lago Vista and the Region
• Work with Staff to obtain Federal and state grant funds to further the economic development strategy
• Support and encourage new businesses seeking to locate in Lago Vista and existing businesses seeking to remain or expand in Lago Vista
• Prepare and distribute material and data advertising the advantages of the City for attracting appropriate non-residential development
• Act as a source for business leads that will be brought to the attention of the City Staff liaison. The Committee is also responsible for providing information to staff relative to business development situations, perceived or real, affecting the business climate within the City
• Develop and maintain an inventory of government-sponsored business grants, loans and local incentives along with other benefits available to those operating within the City
• Determine the desirability of an EDC section under the City home webpage promoting Lago Vista's business environment and to develop the general content thereof
• Recommend the creation of multi-media presentations promoting Lago Vista's business opportunities
• Develop regularly scheduled progress reports to the Mayor and City Council