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2023-08-16 EDA Packet
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2023-08-16 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 Authority (the ÐCVEDAÑ) endeavors to support a <br />program of city revitalization. This effort is aimed at strengthening the cityÓs vitality in terms of <br />market share and physical appearance. <br /> <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 property owners 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 redevelopment <br />needs throughout the city. <br /> <br />The Centerville CVEDA established an initial $50,000 loan/grant pool, through an earmark of the <br />cityÓs Housing and Redevelopment Authority funds, administered by Anoka County. This pool of <br />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 property owner(s) for program eligible real <br />estate improvements. <br /> Target downtown property owner(s) along Centerville Road and Main Street. <br /> Serve as a catalyst to leverage private resources. <br /> Require that improvements be consistent with city code. For property owner(s) within the <br />M-1 & M-2 zoning districts, this includes the design guidelines referenced in city code. <br /> Require property owner(s) receiving funds to be compliant with existing city code or to come <br />into 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 /> <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 applicantÓs eligibility based on: <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 property owner(s). <br /> Referral of applicants to local banks. <br />2 <br /> <br />
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