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Revolving Loan Fund Policy Guildelines <br /> B. Page 4 <br /> 411 <br /> ,• <br /> • 2 . Whether the proposed project will result in conformance <br /> with building and zoning codes . <br /> Project Review: <br /> 1 . The EDA Finance Committee and EDA Commissioners will <br /> review each application in terms of its consistency <br /> with the goals of the Growth Management Plan and in <br /> relation to the project ' s overall impact on the <br /> community' s economy. <br /> 2 . The Finance Committee and EDA Commissioners will also <br /> evaluate the project application in terms of the <br /> following: <br /> a. Project design - Evaluation of project design will <br /> include review of proposed activities, time lines <br /> and a capacity to implement. <br /> b. Financial Feasibility - Availability of funds, <br /> private involvement, financial packaging and cost <br /> effectiveness . <br /> 1 . Ratio of private funds to Economic <br /> Development Revolving Loan Funds (minimum <br /> threshold: $2 .00 private funds, $1 . 00 <br /> Economic Development Revolving Loan Funds) . <br /> 2 . Sufficient cash flow to cover proposed debt <br /> service as demonstrated by financial <br /> statements and projections . <br /> 3 . Business must show a positive net worth. <br /> 4 . Letter of Commitment from applicant pledging <br /> to complete the project during proposed <br /> project duration, if the loan application is <br /> approved. <br /> 5 . Letter of Commitment from other financing <br /> sources stating terms and conditions of their <br /> participation in the project if applicable. <br /> 6 . Sufficient collateral . <br /> c. All other information as required in the <br /> application and/or additional information as may <br /> be requested by the Economic Development Authority. <br /> d. Project compliance with all city codes and <br /> policies . <br /> e. Program Objectives - The applicant must meet all <br /> Revolving Loan Fund criteria and demonstrate how <br />