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ITEM # 6. <br />ver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />Heritage Preservation Commission <br />FROM: Catherine Mehelich, Director of Economic DevelopmentG~~~ <br />DATE: March 6, 2006 <br />SUBJECT: Discuss Amendments to the Redevelopment Financing <br />Program of the Micro Loan Fund Policy <br />Attachments <br />• February 13, 2006 Staff Report to the EDA re: Amendments to Micro Loan Fund <br />Policy <br />• 15C Draft Revised Micro Loan Fund Policy dated February 2006 <br />Background <br />The Economic Development Authority is considering amendments to its Micro Loan Fund <br />Policy which provides loans for manufacturing business expansion under the Industrial <br />Incentive Program and for the rehabilitation of Downtown District buildings under the <br />Redevelopment Financing Program. The Redevelopment Financing Program has been <br />utilized twice in the past 10 years. <br />Issue <br />The EDA has requested both the HRA and HPC's input on the terms of Redevelopment <br />Financing Program and how it may be better utilized to encourage the restoration of <br />commercial buildings in the Downtown District. <br />