Laserfiche WebLink
a. Energy efficiency measures installed in or on a building include: <br /> b. Facility systems optimization (commissioning/re-commissioning) <br /> c. Facility systems control improvements <br /> d. Process efficiency improvements (CenterPoint Energy) <br /> Y) <br /> e. lighting efficiency improvements <br /> f. Heating,ventilation and air conditioning system modifications <br /> g. Exterior envelope improvements <br /> h. Motor and pump efficiency improvements <br /> i. Ground-source heat pump systems used to heat or cool a facility <br /> j. Installation of equipment or devices that use renewable energy sources to <br /> generate electricity or heat or cool a building including solar electricity <br /> (photovoltaic),wind turbine or solar thermal. <br /> Ineligible Fund Uses: <br /> a. Inventory <br /> b. Refinancing of existing debt <br /> c. Working capital <br /> d. Expenditures for the construction and/or renovation of residential units <br /> Micro-Brewery Loan <br /> Purpose: The Micro-Brewery microloan is available to business and property <br /> owners located within the city of Elk River. <br /> Amount: Up to $74,999 of secondary financing not to exceed 20% of the <br /> Total project cost. <br /> �• Equity: Must have private-sector commitments for 50% of the project cost. <br /> Borrower must provide 10% or more of project financing. <br /> Rate: Fixed at 3%. <br /> Term: Financing with a balloon payment in up to 5-years. Loans may be <br /> amortized up to the following limits: <br /> 10 years on equipment uses <br /> Extension: In the event that the Borrower is unable to obtain conventional <br /> financing to replace the Microloan at the end of five years, the loan <br /> may be extended up to two additional years at a market rate of <br /> interest. <br /> Criteria: At a minimum, 50% of Microloan dollars must be used for the <br /> purchase of equipment. <br /> Loans must be supported by sufficient collateral,which will include <br /> personal guarantees. <br /> Page 11 of 22 EDA&City Council Approved April 17,2017 NATURE <br />