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<br />City of Arden Hills <br />Economic Development Commission April 2, 2014 <br /> <br />Page 3 of 3 <br /> <br />Guidelines and Approval Process <br />The application process for obtaining revolving loan funds should be streamlined and <br />transparent. The City should set a goal of completing the necessary evaluation and deciding on a <br />loan request within 30 to 45 days of receiving a completed application. A long approval process <br />will make the program less attractive to businesses interested in participating. The City could <br />consider establishing a special committee comprised of members of the City Council and staff <br />that would be responsible for evaluating applications and making recommendations to the EDA. <br /> <br /> <br />Attachments <br /> <br />A. Economic Development Commission Staff Report, November 6, 2013 <br />B. Economic Development Commission Minutes, November 6, 2013