Incentive Application Process & Timeline
1.) Contact AEDC at 903.675.4617 or firstname.lastname@example.org for an Incentive Application. Once complete, return to AEDC for review and processing.
2.) If additional documentation or information is required, the company representative will be contacted and the required information gathered.
3.) Once a complete application is received, an economic impact analysis (EIA) is performed and used to negotiate incentives. If successful, an Economic Development Perfornmance Agreement is drafted between the Company and AEDC. This agreement outlines the obligations of the Company and AEDC.
4.) Staff forwards summaries of the EIA, incentive application, proposed incentive agreement and a recommendation for approval or disapproval for review and action by the Athens Economic Development Corporation Board of Directors.
5.) The AEDC Board of Directors approves or disapproves at the Board’s regular monthly meeting.
6.) If approved, the Agreement moves forward for City Council’s approval. If disapproved by the AEDC Board, the application stops.
7.) If the City Council approves the project, AEDC publishes a public notice in the newspaper of the project and public hearing, if required. Funding of the project can only occur after 60 days from the first publication date.