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04-02-14 EDC
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04-02-14 EDC
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Grading and Report Card. The Criteria and Guidelines set minimum standards for the City for <br />granting all forms of public subsidy, but they primarily address the use of TIF and tax <br />abatements. The Grading and Report Card evaluates public financing proposals based on a <br />number of criteria, including the ratio of private to public investment, minimum valuation <br />threshold, and expected increase in real estate value. Projects must meet a certain number of <br />criteria in order to qualify for subsidies. At the August 26th meeting, the EDA affirmed that these <br />policies would apply to all loans administered through the revolving fund regardless of whether <br />the loan amount was less than what State statutes define as a business subsidy. <br /> <br /> <br />Discussion Questions <br />1. Given the Commissioners’ real estate and business experience, will the terms and conditions <br />outlined above be attractive to the business community and encourage investment in Arden <br />Hills? <br /> <br />2. Because the loans will be made in conjunction with bank loans, it will be important to market <br />the program to banks in Arden Hills and adjacent communities. How could the EDC assist <br />with these marketing efforts? <br /> <br />3. Considering the EDA’s interest in targeting loans towards small businesses, are there specific <br />types of projects that small businesses commonly seeks financing for? <br />4. What other feedback or information could be helpful to the EDA as it considers the RLF <br />program? <br /> <br /> <br />Attachments <br />• EDA Staff Report, April 29, 2013 <br />• City of Arden Hills, EDA Revolving Loan Fund Guidelines <br />• City of Arden Hills Business Subsidy Criteria and City Public Financing Guidelines <br />• Public Financing Proposal Grading and Report Card
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