The Magnolia 4A Economic Development Corporation discussed the possibility of creating a new fund to promote economic development in Magnolia at its monthly meeting Nov. 18.

The idea of the fund was brought on by a recent trip to Grapevine by city representatives. Members of Magnolia Area Chamber of Commerce talked to retailers and developers there about bringing their businesses to Magnolia. The Magnolia assembly presented the businesses with flash drives containing a short clip about Magnolia and what it has to offer.

City Manager Paul Mendes said the cost of the flash drives and editing of the video was nearly $3,000 and the city was unsure of which fund would pay for the costs.

“The City and Chamber spread the cost so the burden wasn’t on one entity,” 4A President Jonny Williams said.

Due to the uncertainty of where the funding should come from and the time frame that was allotted to complete the project, the idea was presented to create a “working fund for emergencies.”

The fund would be established for events where the community needed funding for emergency type situations, such as last minute advertising or business luncheons.

Board members disagreed on whether the discussion was related to 4A or 4B funding.

City of Magnolia attorney Leonard Schneider suggested that the 4B Corporation roll 10 percent of its advertising fund into the “emergency fund” each year because the fund would be allowed for use of advertising and promotion of the city.

The motion passed to create a fund for emergency advertising and promotions for small projects from a portion of the 4A Corporation’s account.

“The 4B Corporation may participate, but that is something they will have to vote on,” Williams said.

Members of 4A also discussed possible workshops for future projects and board members agreed that open workshops would give 4A and 4B a better chance to collaborate before meetings. The first open workshop will be Jan. 14 at 6 p.m.

Mendes also said that the Chamber is working with 4A to create a “Greater Development Project” that will help promote businesses in the area.

In addition, Williams announced that Papa John’s and Pizza Hut’s Wing Street will be opening restaurants in Magnolia.

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