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<br />. <br /> ~/~ <br /> ELIGIBLE PROJECTS <br />. The following types of activities are eligible for use ofRLF funds for private, for-profit <br /> businesses. <br /> I. Existing Business Expansion Defined as Office/Industrial related expansion, including <br /> land and building acquisitions and construction, remodeling, relocation, equipment <br /> acquisition, and public facilities improvements. <br /> 2. Business Eouipment Acquisition Defined as the purchase of additional depreciable assets <br /> for the purpose of expanding industrial activities. <br /> 3. Development of New Business Defined as the establishment Office and Industrial <br /> businesses in all phases, including land, building acquisition and construction, <br /> remodeling and equipment acquisition. <br /> 4. Working Capital. <br /> 5. Professional Fees. <br /> 6. Infrastmcture Improvements Necessary to Support New or Expanding Businesses. <br /> CRITERIA FOR USE OF FUNDS <br />. I. The project should leverage at least two dollars for every City dollar invested. <br /> 2. The project should: <br /> a. Create at least one White Collar job for every $5,000 in RLF money; and/or <br /> b. Creates at least one High-Teeh-Office!High-Pay for every $5,000 in RLF money; <br /> and/or <br /> e. Creates at least one High-Tech-Manufachlring/High-Pay for every $2,500 in RLF <br /> money; and/or <br /> d. Retains at least one White Collar, High-Tech-Office/High-Pay, or High-Tech- <br /> Manufacturing/High-Pay job for every $1,000 in RLF money. <br /> 3. The project should include a borrower's equity contribution of 10% of the total project <br /> cost at a minimum. <br /> 4. The City may finance no more than 50% of the borrower's working capital needs. <br /> 5. The City may finance no more than 33% of the cost of the project. <br /> 6. Loan will be in a junior collateral position to the major source of project financing, unless <br /> revolving loan fund proceeds are the primary source of funds. <br />. <br />----- <br />