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EDA FINANCING GUIDELINES ALL FINANCING APPLICANTS SHALL HAVE A STRONG JOB COMPONENT Eachl-applicant should employ at least one (1) person per 1,000 square feet of financed bulling ~ea, creating a reasonable number of new jobs or preserving existing jobs. This gri[etia may be waived when a project assists in accomplishing specific objectives of the ~ity'S Comprehensive Plan and achieves preservation of historically significant buil~ngsi consists of a multifamily-rental project, prevents the relocation of the project outsi0e tl'/e City, or has a significant portion of costs devoted to pollution control or energy consirvat~on, and when it has been demonstrated that no feasible alternative can meet the job:c~/'teri~bn and accomplish these other objectives simultaneously. FIN4NOING SHOULD HAVE A SIGNIFICANT LEVEL OF LEGITIMATE PROP ,r¥ mPROVE mNTS Legitimate property improvements include replacing or rehabilitating the basic systems, inclu~lingi but not limited to, plumbing, electrical and mechanical systems, the basic strUc~re,,~energy improvements, exterior aesthetic improvements or site improvements, leasel~old.!mprovements and other similar improvements. Acquisition of a building without significa~li property improvements will not be eligible for financing unless it has a strong job C{~mP0nent. ALL FINANCED BUILDINGS SHALL HAVE ADEQUATE URBAN DESIGN STAr DARDs Urbm~ design standards maintain the integrity of the neighborhood by providing adequate parki~ig arid traffic control, minimizing air and noise pollution, assuring adequate screening and e acrgF efficiency to residential areas, providing adequate handicap accessibility, and displ~ yinglcompatible architectural building design. EQUi):'MENT FINANCING MUST HAVE SUFFICIENT SECURITY AND SHALL BE LIMI~['ED TO COMPANIES WHICH CREATE OR PRESERVE A SIGNIFICANT NUMBEK OF JOBS Equipmen:t can be financed, with or without significant property improvements, if a re',dist ic ntlmber of new jobs are created or preserved. RETAIL !ESTABLISHMENTS ARE ELIGIBLE FOR FINANCING ONLY IN RED~VELDPMENT AREAS If anyi apP!icant contemplates constructing or rehabilitating a building for retail use in a Redev~elopment Area, EDA financing could be utilized, providing all other guidelines are met. Ip a~ldition, because of business volatility, the EDA may require additional seem-ity. EDA FINANCING IS INTENDED PRIMARILY WHEN OTHER CONVENTIONAL TYPES O~ FINANCING ARE NOT FEASIBLE FOR WHICH THE PROTECT WOULD NOT OCCUR BUT FOR EDA ASSISTANCE The p ~t~rpo% of a company's utilizing EDA financing is to make the project feasible, not to give i{ an ;unfair financial competitive advantage over similar businesses which used ~onve~tioh~al ~ypes of financing. Each company should clearly demonsn-ate that adequate conver~tion}tl financing is not available or that the project would not be undertaken but for ~ EDA Financing i ~ Page 4 of 7