The Community Development Corporation's purpose is to promote projects to enhance the community and the citizens of Princeton.
The Community Development Corporation (CDC) was incorporated on July 3, 1997. The CDC is a Texas 4B sales tax corporation that is governed by a seven-member board appointed by and serving at the pleasure of the City Council. Funding for the CDC occurs by the City transferring ¼ sales tax revenues collected by the City of Princeton. The 4B expenditures are subject to the provisions of the Development Corporation Act of 1979 and the Local Government Code, Title 12, Subtitle C1.
The sales tax enables the City of Princeton to undertake quality-of-life projects and community programs.