What is the Lampasas Economic Development Corporation?

The Lampasas Economic Development Corporation, or LEDC, is a group comprised of seven Board members appointed by the Lampasas City Council, who oversee the 4B sales tax proceeds brought into the City. The group consists of a variety of business people and Council members who review expenditures and revenues of the tax dollars.

Very stringent rules and regulations govern the usage of these tax monies, and only “projects” approved by the body, along with the City Council, can be funded with 4B dollars. The main goal, as defined by the State Attorney General, is the creation of “primary jobs.” Allowable projects under 4B that require creation of primary jobs include:

  • Manufacturing and Industrial Facilities
  • Research & Development Facilities
  • Military Facilities
  • Transportation Facilities
  • Sewage & Solid Waste Facilities
  • Recycling Facilities
  • Air or Water Pollution Control Facilities
  • Distribution Centers
  • Small Warehouse Facilities
  • Primary Job Training Facilities for Use By Higher Education Institutions
  • Regional or National Corporate Headquarters Facilities

Additionally, 4B Corporations may provide land, buildings, equipment, facilities and improvements found by the Board to promote or develop new or expanded business enterprises that create or retain primary jobs, including:

  • Public Safety Facilities
  • Streets and Roads
  • Drainage and Related Improvements
  • Demolition of Existing Structures
  • General Municipally Owned Improvements

Those endeavors not required to create primary jobs include:

  • Job Training Classes
  • Infrastructural Improvements That Promote or Develop New or Expanded Business Enterprises
  • Career Centers
  • Commuter Rail, Light Rail, or Motor Buses
  • Professional or Amateur Sports and Athletic Facilities
  • Entertainment, Tourist, and Convention Facilities
  • Public Parks and Related Open Space Improvements
  • Affordable Housing
  • Water Supply Facilities
  • Water Conservation Programs
  • Airport Facilities
  • Port-Related Facilities

 More info on 4B Sales Tax can be found here –  https://www.tml.org/legal_pdf/4A-4BSalesTax.pdf

Show All Answers

1. What Is Economic Development?
2. Why Does The LEDC Focus On Primary Jobs?
3. What is the Lampasas Economic Development Corporation?