04-02-14 EDC Minutes - Laserfiche WebLink

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EDC Minutes April 2, 2014 Page 3 of 5 Associate Planner Bachler commented that this would be an, interesting approach. His one concern was that a business' need for financing may not always line up with the period of time during which the City accepted applications. Chair von Holtum commented that the biggest stumbling block appeared to be the approval process. Commissioner Huninghake reported that the Minneapolis Community Planning and Economic Development department manages a similar revolving loan fund program and that the approval process was handled at the staff level for the most part. He recommended that if the participating bank approves the loan package, the City should also approve it. Commissioner Radziej recommended that very specific guidelines be established for the RLF. This would allow City to more easily approve applications assuming all of the criteria were met. B. City Video Tour Community Development Director Hutmacher reported that staff has met with CTV and has drafted an outline for the City video tour. The video would include five parts: an introduction by the Mayor, background information, business and industry, economic development, and a wrap- up. She asked the EDC for additional direction so that staff could begin the work of drafting a script, contacting businesses to request testimonials, and identifying "shots" with CTV. Commissioner Radziej recommended that the video include information on the travel time from Arden Hills to the Minneapolis -St. Paul International Airport, as well as to other recreational and cultural amenities in the metro. He noted that the TCAAP redevelopment should be included in the video given the importance of this project for the City and the region. He added that the City Revolving Loan Fund could be promoted in the economic development segment of the video. Chair von Holtum commented that the proposed outline was formulaic, but that this was a safe and effective approach for the City to take. Community Development Director Hutmacher replied that while the format may be standard, the information presented in the video would clearly distinguish the City from other communities. Commissioner Huninghake questioned how the video voice over would be done. Community Development Director Hutmacher responded that City would have a professional do the voice over for the video. She commented that it was important for the narration to be professional sounding in order to help attract businesses to the community.