My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
06-04-14 EDC
ArdenHills
>
Administration
>
Commissions, Committees, and Boards
>
Economic Development Commission (EDC)
>
EDC Packets
>
2014
>
06-04-14 EDC
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/13/2017 4:34:26 PM
Creation date
6/13/2017 4:33:40 PM
Metadata
Fields
Template:
General
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
34
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br /> <br /> <br /> <br /> <br />Approved: <br /> <br />CITY OF ARDEN HILLS, MINNESOTA <br />ECONOMIC DEVELOPMENT AUTHORITY MEETING <br />APRIL 28, 2014 <br />6:00 PM – CITY HALL <br /> <br /> <br />5. UNFINISHED BUSINESS <br /> <br />A. EDA Revolving Loan Fund <br /> <br />Associate Planner Bachler stated that the EDA discussed the City’s Revolving Loan Fund <br />(RLF) at two previous meetings on April 29, 2013, and again on August 26, 2013. At these <br />meetings, staff provided general background information on the history of the RLF and the EDA <br />discussed its goals and priorities for the future use of the funds. Since then, staff has discussed <br />this topic with the Economic Development Commission (EDC) and has met individually with <br />several local bankers to discuss the revisions proposed by the EDA in more detail. <br /> <br />Associate Planner Bachler explained that based on the feedback provided by the EDA, staff <br />will work with the EDC to draft revised RLF Guidelines that will be reviewed at a later meeting. <br />Prior to final approval by the EDA and City Council, the revised RLF Guidelines are required to <br />be reviewed by the Minnesota Department of Employment and Economic Development. <br /> <br />Associate Planner Bachler reviewed the goals and principles of the RLF program. He indicated <br />that the RLF Guidelines should include a list of goals that clearly define the purpose of the <br />program. Businesses applying for loans should be able to easily evaluate whether their projects <br />would be consistent with the City’s objectives. Specific goals might include: <br /> <br /> Support projects that encourage redevelopment of and investment in commercial and <br />industrial buildings and properties. <br /> Support projects that will result in property maintenance and aesthetic improvements, <br />such as landscaping or commercial façade improvements. <br /> Focus on projects that will assist in the retention and expansion of established Arden <br />Hills businesses. <br /> Provide affordable financing that could not otherwise be secured in the private capital <br />market.
The URL can be used to link to this page
Your browser does not support the video tag.