History & Additional Information
The City of Schertz Economic Development Corporation (SEDC) is a non-profit corporation created by city voters in 1997 under Chapters 501-505 of the Texas Local Government Code. The code allows for the imposition of a local sales and use tax dedicated to economic development, and the SEDC funds its operation and activities by collecting ½ of one percent of sales tax. Chapter 505 allows for creation of Type B corporations to give communities an opportunity to undertake a project for quality of life improvements, including economic development projects that will attract and retain primary employers.
Cities may use money raised by this sales tax for a wide variety of projects including land, buildings, equipment, facilities expenditures and improvements related to projects defined in Chapter 505, Subchapter D of the Texas Local Government Code or found by the board of directors to be required or suitable for use for the promotion of new or expanded businesses.
The Corporation’s Board of Directors holds its regular meetings the fourth Thursday of every month at 6pm in the Schertz City Council Chambers at 1400 Schertz Parkway, Bldg. 4.