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4/3/13 Financial Resources <br /> / Search Departments `.esiaents 13usiness Visitors Haw Do ... <br /> n anciai Resources <br /> 4 00N <br /> The City of Coon Rapids offers a variety of financing options for projects <br /> that help achieve its development goats. These resources are " ` <br /> liin.n�gcnu <br /> administered by both the City's Economic Development Authority (EDA) <br /> and outside sources. Please contact the City's Co a_j.t fl. eveiopment Community Strength... <br /> Department at (763)767-6430 for more information. ;7or Generations <br /> Current Activities <br /> Coinne Cia E X- :) L.oan <br /> • Coon Ra.:?ids 3pu.evart <br /> The City of Coon Rapids offers financing for exterior improvements to sec evc` rr�e: ; <br /> commercial properties in the City's established business districts. City resources <br /> O Avaiaztlgiurperci t' <br /> Who is eligible?Owners of commercial or office properties along Coon <br /> Rapids Boulevard and Fotey-Northdale commercial district. <br /> What can the funds be used for?Exterior building improvements, such as • CCom ercra x v ,..oan <br /> additions, windows, awnings, signs, masonry repairs, artwork, and <br /> finishes. Site improvements, such as parking lots, signs, trash e Seryjces <br /> enclosures, fences, and landscaping. <br /> • ?,an ling <br /> Maximum Loan Amount: $50,000 <br /> Term: 10 years • jlai c rtg_Fmms, ;at r clns <br /> interest Rate: 3% <br /> • Demogra,pxiic n�orrna~ipn <br /> ,`:ca.. anti Su.)IT�t ,t', 24!(s�irernerl';, 13usiness ?;esources <br /> * theaterMSP Sii_e Se.€elion <br /> 00'. <br /> -ax F_^actin n; /Tax "el)ate C ommtce <br /> • Metro...Nor:l_Chamber of <br /> The City considers use of Tax increment Financing (TIF)and Tax Rebate <br /> Financing (TRF)for development projects that would not otherwise occur <br /> ornmerrce <br /> without public assistance. Use of these incentives is determined on a • Service t_nr7s of_Re lied <br /> case-by-case basis, considering the City's TIF/TRF Policies, specific xc r u. v .s <br /> project criteria, and demand on city services. <br /> t...en+,1 a; i ,,ini iessor_a )eve'.oDmen.:: Cor ora':ion <br /> Central id,innesottaa �Devel ment Comy (CMDC)is a private non-profit <br /> corporation authorized to provide SBA 504 loans throughout.Minnesota. <br /> Its mission is to promote economic viability by cultivating a financing <br /> environment that allows small businesses to grow and prosper. To fulfill <br /> this mission, CMDC provides the following services to lenders and <br /> businesses: <br /> • SBA 504 Loans <br /> • SBA 7(a) Loan Packaging Assistance <br /> • SBA Low-Doc Packaging Assistance <br /> wromci.coon-rapids.mn.us/economicdev/financlaiNtm 1/2 <br />