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Revolving Loan Fund Policy Guildelines Page 4 <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 /> the proposed activities will meet at least one of <br /> the 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 />