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Staff is requesting guidance on the following questions: <br /> <br /> <br />1.Do the minimum and desired qualifications for City financing established in the <br /> <br /> <br /> <br />2.What types of projects would the City like to support with revolving fund loans? <br /> <br />a.Business expansions <br /> <br />b.Equipment purchases <br /> <br />c.Commercial façade improvements <br /> <br />d.Large vs. small businesses <br /> <br />e.Established Arden Hills businesses vs. businesses that are new to the City <br /> <br /> <br />3. Grading and Report <br />Card? <br /> <br /> <br />4.The current Revolving Loan Fund Guidelines assume that loans would be issued in <br />collaboration with banks which would evaluate projects, determine credit-worthiness, and <br />administer the loans. Should the City continue to partner with private financial <br />institutions? <br /> <br /> <br />5.For certain, small-scale projects such as façade improvements, should loans be structured <br />to be forgivable? What private match should be required? Should other goals be <br />included? <br /> <br />Requested Action <br /> <br />Discuss City goals for the RLF and direct staff to draft policy revisions, if necessary, for further <br />EDA consideration. <br /> <br />Attachments <br /> <br /> <br />EDA Staff Report, April 29, 2013 <br /> <br />City of Arden Hills, EDA Revolving Loan Fund Guidelines <br /> <br />City of Arden Hills Business Subsidy Criteria and City Public Financing Guidelines, <br />April 29, 2013 <br /> <br />Public Financing Proposal Grading and Report Card <br />______________________________________________________________________________ <br />City of Arden Hills <br />Economic Development Authority Meeting August 26, 2013 <br /> <br />22 <br />Page of <br />