8.1. EDSR 04-16-2018 - Laserfiche WebLink

Home Browse Search

Property owners within the City will receive assistance with promotion of available rental spaces. Payment of rent subsidies will occur upon receipt of proof of rental payment starting in the business' first month of operation. Payment may only be made directly to the property owner leasing space to the applicant accepted to this program by the EDA. Property owners and businesses owners must be eligible and compliant with all city building codes and regulations and obligations to receive monetary assistance benefits delineated above. In order to receive assistance indicated through this program, lease/terms must be acceptable as determined by the EDA. Additionally, property must be zoned for business/commercial usage. Residentially zoned properties will not be considered. Contingencies and Considerations: To improve odds of long-term success, approved applicants are required to follow program conditions considered to be valuable by the EDA: 1. Business will open within 90 days of approval of application by the EDA. 2. Business owner will participate in ALL educational classes (outlined in assistance section of this document) provided through this program by the EDA. 3. Business owner will meet with the EDA's staff and representative of the Small Business Development Center on a quarterly basis at minimum. Financial information and documentation will be released and reported during these meetings. Additional meetings may be requested by the business owner or the EDA. 4. Business owner must agree to hours of operation that include at least five (5) days per week.If the business is retail affiliated,the business may be required to operate until at least 8 p.m.one (1) evening/week. 5. Business owner will give a presentation after one (1) year of successful operation at a public EDA meeting to divulge challenges and plans for sustained success.