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2020-06-17 EDA Packet
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2020-06-17 EDA Packet
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CENTERVILLE ECONOMIC DEVELOPMENT AUTHORITY <br />REVOLVING LOAN AND GRANT PROGRAM (RLGP) <br />I.BACKGROUND <br />The Centerville Economic Development Authorndeavors to support a <br />program of city revitalization. This effort is aimed at strengthening the cityin terms of <br />market share and physical appearance. <br />Working with the City, the CVEDA has designed a Revolving Loan and Grant Program (RLGP). <br />The RLGP is aimed at improving the utility and appearance of downtown businesses while <br />encouraging the leveraging of private investment which would otherwise not occur. The program <br />has two distinct components: Loan and Grant. The program is designed to address business <br />redevelopment needs throughout the city. <br /> <br />The Centerville CVEDA established an initial $50,000 loan/grant pool, through an earmark of the <br />unds, administered by Anoka County. This pool <br />of money may be used for either the Grant or Loan Portion of the program. <br /> <br />The Centerville RLGP is operated with the following program goals: <br /> Provide affordable financing or grant funds to small businesses for program eligible real <br />estate improvements. <br /> Target downtown businesses along Centerville Road and Main Street with other businesses <br />located in the City also being eligible. <br /> Serve as a catalyst to leverage private resources. <br /> Require that improvements be consistent with city code. For businesses within the M-1 & <br />M-2 zoning districts, this includes the design guidelines referenced in city code. <br /> Require businesses receiving funds to be compliant with existing city code or to come into <br />compliance in the course of the improvements proposed. This includes code related to <br />signage, parking, screening and other exterior regulations. Whether the interior of the <br />building needs to come into compliance with the building code shall be governed by the <br />building code and related city code. Structures which qualify as legal nonconformities may <br />remain. <br />The program is administered by the EDA under the guidance of policies set by the City Council <br />and EDA. <br /> <br />The City of Centerville EDA is responsible for: <br /> Determining individual appli <br />- Location of property to be improved; <br />- Improvement scope; <br />- Compliance with City Codes and Ordinances. <br /> Determining schedule for submission of competitive funding applications and scoring criteria <br />for the award of loans and grants when there are more applications than funds. <br /> Distribution of program information to area businesses. <br />2 <br /> <br />
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