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2024-08-21 EDA Packet
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2024-08-21 EDA Packet
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8/16/2024 1:58:34 PM
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Applicant must fill out a loan application with the financial institution. <br /> Applicant must submit a written request to the financial institution describing the need. <br /> Applicant must receive written permission from both the EDA and the financial institution. <br /> If the above conditions have been met, the applicant may proceed using his own funds or <br />interim financing from a financial institution. However, this is done at the applicantÓs and/or <br />financial institutionÓs own risk until the total Scope of Work has been approved by the EDA <br />and the loan has been closed. <br />XIV. ELIGIBLE COSTS (LOAN PROGRAM) <br />The following are eligible expenses for either the public or private sector (matching) portion of <br />the loan. <br /> Generally, all work on front and sides of - commercial buildings facing public streets <br /> Cleaning, painting and staining of exterior surfaces <br /> Façade masonry repairs <br /> Repairing, replacing and installing of cornices, entrances, exterior doors and windows, <br />decorative details, awnings and exterior lighting <br /> New signage <br /> Sign removal, repairing and replacement <br /> Building identification <br /> Streetscape costs on private property <br /> Landscaping visible from the street <br /> Decks or patios used for business purposes <br /> Parking lot improvements <br /> Handicapped accessibility improvements <br /> Health and safety improvements <br /> <br />The following may be funded with the private sector (matching) loan portion only; <br /> Any of the items listed as public sector loan-eligible, above. <br /> Generally, all interior fixed improvements including the repair and/or construction of walls, <br />ceilings, floors, lighting, windows, doors and entrances <br /> Heating, ventilating and air conditioning improvements <br /> Wall and floor finishes and tenant fixtures <br /> Roof repairs and replacement <br />8 <br /> <br />
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