According to BDA Executive Director Joe B. Montez, the board approved a draft version of a contract with J&S Matus Motorsports for the event scheduled in March 2013.
Montez said the contract will be reviewed by the Matus company and their attorneys before being returned to the BDA board.
The Texas Mile event pits cars, trucks and motorcycles against the clock during three days of racing one mile on the crosswind runway at the Chase Field Industrial and Airport Complex.
The event brings thousands of competitors, crew members and spectators to Beeville two times a year.
In other action, the board voted to renew the farming contract the BDA had with Nancy Surgarek.
Mrs. Sugarek leases 42 acres of land next to the Bee County Industrial Park to farm crops.
Montez said the contract is in its third year.