Edinburg, TX – The Edinburg Economic Development Corporation (EEDC) is launching the Façade and Lot Improvement Program (FLIP), an initiative aimed at providing financial assistance to local small businesses that have faced significant challenges in recent years.
The FLIP program addresses the aftermath of the pandemic, high inflation, and severe weather storms that have adversely affected the local economy, causing damage to signs, awnings, facades, parking lots, and more. The EEDC is committed to supporting the community’s recovery by offering up to $10,000 in grants to qualifying small businesses for repairs and improvements. The program officially launches on January 8, 2024.
PROGRAM DETAILS: The EEDC has allocated $400,000 for the Fiscal Year 2023-2024 to support at least 40 qualifying small businesses, providing grants of up to $10,000 each. The program covers repairs to existing parking lots, signage, and facades, with eligible improvements to be implemented from the date of program initiation through September 30, 2024. Final approval from the EEDC Board of Directors is required for the grant.
The FLIP program operates on a reimbursement basis, with approved projects receiving funds upon completion. Any project expenses incurred before approval and obtaining the building permit will not be reimbursed unless approved by the EEDC Board of Directors.
Additionally, if a qualifying business faces financial hardship preventing them from undertaking the contemplated improvements, the EEDC may consider providing financial assistance up to the grant amount.
ELIGIBILITY REQUIREMENTS: To qualify for the FLIP program, businesses must meet the following criteria:
ELIGIBLE EXPENSES: The program covers hard costs associated with the renovation of exterior portions of property owned or leased by the qualifying small business. Eligible expenses include, but are not limited to:
Before starting work, all improvement projects must be approved by the EEDC staff and the City of Edinburg’s Development Services. Permit fees are waived for approved projects.
For more information on the FLIP program and to apply beginning Jan. 8, please visit www.edinburgedc.com or contact the Edinburg Economic Development Corporation at (956) 388-8914.