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EDA FINANCING GUIDELINES ALL ]!~NANCING APPLICANTS SHALL HAVE A STRONG JOB COMPONENT Each .'~pPl!cant should employ at least one (1) person per 1,000 square feet of financed buiMi ~g ar~a, creating a reasonable number of new jobs or preserving existing jobs. This ~teria may be waived when a project assists in accomplishing specific objectives of the C[ty'~IComprehensive Plan and achieves preservation of historically significant buildi~gS~ ~onsists of a multifamily-rental project, prevents the relocation of the project outsid~ th~ City, or has a significant portion of costs devoted to pollution control or energy conse~ati0n, and when it has been demonstrated that no feasible alternative can meet the job eri~eriOt~ and accomplish these other objectives simultaneously. FINANCING SHOULD HAVE A SIGNIFICANT LEVEL OF LEGITIMATE PROPI ERTy IMPROVEMENTS Legiti~nate~:property improvements include replacing or rehabilitating the basic systems, including,~!but not limited to, plumbing, electrical and mechanical systems, the basic structt~'e, ?ergy improvements, exterior aesthetic improvements or site improvements, leaseh~ ~ld ir~provements and other similar improvements. Acquisition of a building without signifil:ant property imProvements will not be eligible for financing unless it has a strong job cot ap0nent. ALL ]~IN~NCED BUILDINGS SHALL HAVE ADEQUATE URBAN DESIGN STA AR S Urban 0esign standards maintain the integrity of the neighborhood by providing adequate parkingand traffic. , . control, minimizing an" and noise pollunon,' assuring' adequate screening and :en4;r. gyleffic~ency to residential areas, providing adequate handicap accessibility, and displaylngd°mpatible architectural building design EQUIP~aMENT FINANCING MUST HAVE SUFFICIENT SECURITY AND SHALL BE LIMITEDi ~To COMPANIES WHICH CREATE OR PRESERVE A SIGNIFICANT NUMI~EKi 0F JOBS Equipment can be financed, with or without significant property improvements, if a realistk~ nUnhber of new jobs are created or preserved. RETA~ ~STABLISHMENTS ARE ELIGIBLE FOR FINANCING ONLY IN REDEVELOPMENT AREAS If any 0pptieant contemplates constructing or rehabilitating a building for retail use in a Redevelopment Area, EDA financing could be utilized, providing all other guidelines are met. Inladdition, because of business volatility, the EDA may require additional security. EDA FJ[NANCING IS INTENDED PRIMARILY WHEN OTHER CONVENTIONAL TYPES :OF FINANCING ARE NOT FEASIBLE FOR WHICH THE PROJECT WOULD NOT O, The put give it conven conven .'CUR BUT FOR EDA ASSISTANCE ~ose~ of a company's utilizing EDA financing is to make the project feasible, not to an Ulnfair financial competitive advantage over similar businesses which used iona! types of financing. Each company should clearly demonstrate that adequate iona! financing is not available or that the project would not be undertaken b~l for EDA Financing Page 4 of 7