The Corporation will operate as a financial resource institution.  The Board’s function is to conduct a review and consideration of applications submitted for possible funding through the Corporation.  The Board will participate with the Harlingen Area Chamber of Commerce and other economic development activities in formulating strategic economic development plans.  The Board will be project review oriented and will utilize the resources of the Economic Development Division of the Chamber of Commerce and the Harlingen Industrial Foundation, Inc. to develop industrial and manufacturing prospects.  The Board will consider projects that bring new jobs to the area, directly or indirectly, and projects that result in the retention of jobs that could be lost through competitive pressure from outside the area.

The authorized number of Directors of this Board shall be five (5), appointed in the manner provided in Article VI of the Articles of Incorporation.  Each Director shall be of good moral character, be a United States citizen and shall reside within the Harlingen Consolidated Independent School District.  In addition to the qualifications stated above, each director shall meet at least one of the following qualifications; 

• Serve, or have served, as chief executive office of a business enterprise; or
• Serve, or have served, in a position of executive management of a business enterprise; or
• Have served as a Director for at least one year on the Board of Directors of the Harlingen Area Chamber of Commerce, Inc., the Board of Directors of the Harlingen Industrial Development Authority of Harlingen; or
• Have served, but is not currently serving, as a member of the City of Harlingen’s Elective Commission.  No Directors shall serve more than two (2) full consecutive terms.  Individuals holding the following positions shall be ex-officio Directors of the Corporation, shall be given notice of all meetings of the Board, may participate in discussions at Board Meetings but shall not be entitled to vote on matters considered by the Board: Harlingen Municipal Airport Board (Chairman), Harlingen Waterworks System (Chairman), Chamber of Commerce (Chairman), Harlingen Industrial Foundation, Inc., Port of Harlingen (Chairman), Mayor and City Commission, HCISD (President of the Board of Trustees).  The Mayor and City Commission as ex- officio Directors of the Corporation and such other ex-officio Directors as requested by the Board of Directors shall be permitted to attend closed or executive sessions of the board that may be held from time to time in compliance with the Texas Open Meetings Act, Chapter 551 of the Local Government Code, as amended.