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i EDA FINANCING GUIDELINES ALL FINANCING APPLICANTS SHALL HAVE A STRONG JOB COMPONENT Each ~pPl!icant should employ at least one (1) person per 1,000 square feet of financed buildihg a~a, creating a reasonable number of new jobs or preserving existing jobs. [. This 6~riteria may be waived when a project assists in accomplishing specific objectives of the ~tf~;i Comprehensive Plan and achieves preservation of historically significant build~g$,lconsists of a multifamily-rental project, prevents the relocation of the project outside ille City, or has a significant portion of costs devoted to pollution control or energy conse~atibn, and when it has been demonstrated that no feasible alternative can meet the job erlt¢~d[n and accomplish these other objectives simultaneously. pROpk - nVtPROVE ,mN'rs Legiti.haate, property improvements include replacing or rehabilitating the basic systems, incltl~ing,!but not limited to, plumbing, electrical and mechanical systems, the basic structare, energy improvements, exterior aesthetic improvements or site improvements, leasehold :i~provements and other similar improvements. Acquisition of a building without signifi~antiproperty improvements will not be eligible for financing unless it has a strong job component. ALL FINANCED BUILDINGS SHALL HAVE ADEQUATE URBAN DESIGN STANDARDS Urban ~esign standards maintain the integrity of the neighborhood by providing adequate parkinll arid traffic control, minimizing air and noise pollution, assuring adequate screening and energY!efficiency to residential areas, providing adequate handicap accessibility, and displa~ingi !ompatible architectural building design. EQUII~ME~qT FINANCING MUST HAVE SUFFICIENT SECUR1TY AND SHALL BE LIMrl~I) 00 COMPANIES WHICH CREATE OR PRESERVE A SIGNIFICANT NUMBER OF JOBS Equipmentican be financed, with or without significant property improvements, if a realisti~ number of new jobs are created or preserved. RETAIL .ESTABLISHMENTS ARE ELIGIBLE FOR FINANCING ONLY IN REDEVEI. DPMENT AREAS If any qppli~ant contemplates constructing or rehabilitating a building for retail use in a RedeveloPment Area, EDA financing could be utilized, providing all other guidelines are met. in!addition, because of business volatility, the EDA may require additional security. EDA FINANCING IS INrFENDED PRIMARILY WHEN OTHER CONVENTIONAL TYPES!OF ~NANCING ARE NOT FEASIBLE FOR WHICH THE PROJECT WOULD NOT GE:CUR BUT FOR EDA ASSISTANCE The put, Ose of a company's utilizing EDA financing is to make the project feasible, not to give it tm Unfair financial competitive advantage over similar businesses which used [1 conventional types of financing. Each company should clearly demonstrate that adequate conventional financing is not available or that the project wouid not be undertaken but fgr EDA Financing Page 4 of 7 .5'