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Micro Loan Fund Policy Guildelines Page 5 <br /> • <br /> proposed activities will meet at least one of the <br /> following objectives : <br /> 1 . Job creation and/or retention. <br /> 2 . Meet City approved economic and/or <br /> redevelopment plans . <br /> 3 . Prevention or elimination of slums and blight. <br /> 4 . Increasing local tax base. <br /> 5 . Required compliance with an existing building <br /> code violation. <br /> 3 . The EDA Finance Committee will recommend approval, <br /> deny, or ask for a resubmission. A recommendation from <br /> the Finance Committee will be forwarded to the EDA for <br /> action. <br /> 10 . The above criteria will be reviewed on an annual basis. <br /> 11. The Elk River Economic Development Authority may deny any <br /> project at any time that it deems inappropriate according to the <br /> • guidelines established in this document. <br /> • <br />