BONHAM, Tex. -- The city of Bonham may soon be getting an $800,000 park. The Bonham Economic Development Corporation voted to enter into a joint agreement with the city to develop Powder Creek Park.

The city is applying for a $500,000 Texas Parks and Wildlife grant. Under the joint agreement, if the city gets the grant, the Bonham Economic Development Corporation will donate the 36 acres for Powder Creek Park.

Bonham city manager Corby Alexander says that donation will help them compete for the money.

"BEDCO currently owns the property and when we compete for grant funding, the property can be leveraged as meeting our match requirement," Bonham city manager Corby Alexander says.

Alexander says now that BEDCO has approved the agreement it will go to city council to accept the agreement on the city's behalf.