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Criteria: At a minimum,20%of Microloan dollars must be used for the <br /> improvement of the building facades,with exceptions to be <br /> considered when it appears the facade improvements are not <br /> necessary.Financing of leasehold improvements will be considered at a <br /> limit of$25,000. <br /> _;_q-mifts nni-i 4- sttrre)rf ed 437 51-1_f4_ei-ef,t_F 9114-rft4,w4ielft ffi"iftelftde rerse)ftft4 ftsse�s ftftd <br /> Formatted:Indent:Left: 0" <br /> gttftrftttfees. <br /> Permitted Fund Uses: Formatted:Indent:First line: 0" <br /> Building construction Formatted:Indent:Left: 1.5",First line: 0" <br /> MachlnerV Formatted:Indent:Left: 1.5" <br /> Furniture,fixtures,and equipment(FF&E) <br /> Renovation and modernization of buildings <br /> Exterior renovation of retail,commercial and industrial bulldinVs <br /> Public infrastructure needed for economic development expansions <br /> Financing of leasehold improvements including facade improvements <br /> will be considered at a limit of$25.000 <br /> Expenditures for the construction and/or renovation of residential <br /> units <br /> Ineligible Fund Uses: <br /> Formatted:Strikethrough <br /> a.Inventory <br /> b.Refinancing of existing debt <br /> c.Working capital <br /> Formatted:Indent:Left: 0" <br /> Energy Efficiency Improvement PwegraFgLoan <br /> Purpose: The Energy Efficiency Improvements hregtarrrLoan is available to <br /> property owners of commercial or industrial buildings in Elk River to <br /> provide eaFlow interest loans to businesses to invest in energy <br /> efficiency and improve their profitability through reduced energy <br /> costs, . In addition, <br /> the program helps the city of Elk River use energy conservation as an <br /> economic development tool.Non-profit organizations may be <br /> considered. <br /> Amount: Applicants may apply for the cost of improvements up to$74,999 <br /> P 0 1 1 0 f a B Y <br /> Page 9 of 29 INATUREJ <br />