Haslet Economic Development | 101 Main Street | Haslet, TX 76052 | 817.439.5931
Incentives : Infrastructure Reimbursement Policy - Type B

Infrastructure Reimbursement Policy - Type B

Haslet Type B Economic Development Corporation - Infrastructure Development Costs Reimbursement Policy (2010)
This Policy details the guidelines that will be used by Haslet EDC for the purpose of infrastructure-related development cost reimbursement. This Policy serves as an administrative and implementation policy for developmental assistance to attract, retain, and expand businesses in the City of Haslet.

As with any guidelines, this Policy is designed to apply in the majority of cases. However, these guidelines can be modified as necessary in specific cases. Each infrastructure-related development project is judged on a case-by-case basis. Neither the City nor the Haslet EDC is obligated to participate in any development project.

The Haslet CEDC will not pay nor reimburse the cost of City development fees. 
This includes all related construction fees such as permits, inspections, plan reviews, certificates of occupation, etc.

I. Qualifications of Businesses and Developers for Infrastructure Reimbursement

A. Job Creation

1. New or existing businesses and developers are required to create new employment of a minimum of 5 full-time job equivalents (or 10 part-time jobs). Full-time jobs are 40-hours a week; part-time jobs are 20-hours a week.
2. New businesses are required to create an increase in their Annual Payroll of $150,000 from the newly created jobs.
3. An existing business that has operated a minimum of 2.5 years in the City of Haslet is only required to create new employment of 3 full-time jobs (6 part-time) and an increase in their Annual Payroll of $90,000.

B. Assessed Valuation

1. New or existing businesses or developers must create an increase in assessed valuation of a minimum of $1,000,000.
2. An existing business that has operated a minimum of 2.5 years in the City of Haslet may only create an increase in assessed valuation of $250,000.
3. New or existing businesses and developers must operate within Haslet city limits.

II. Application Procedures and Requirements

A. Businesses and developers must submit a letter stating the impact on the project without Haslet EDC funding. Multi-parcel benefits are encouraged.
B. History of company, operations and formal business plan must be submitted.
C. Management and ownership qualifications must be provided.
D. 2 years of the most recent financial statements must be provided.
E. Projections on operations to include, but not limited to capital investment (assessed value); jobs, wages, and sales tax generated must be provided. 
F. Detailed invoices and receipts of infrastructure development costs incurred must be provided.
G. All infrastructure projects must meet Haslet’s Public Works Department pre-construction and post-construction requirements.
H. Conceptual Infrastructure Construction Plan approval by Haslet’s Public Works Department. 
I. A Performance Contract that the Haslet EDC shall provide is also required.
J. Recapture – If the project fails to meet its Performance Requirements as defined in the Performance Contract, then some or all of the incentives granted must be paid back to the Haslet CEDC.

III. Developer Participation

Developers may apply for reimbursements of infrastructure related costs:

  • Once acceptance of the improvements has been made by the City in the case of public infrastructure; 
  • Upon issuance of a Certificate of Occupancy in the case of private infrastructure.
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