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Agenda - Economic Development Authority - 07/16/2020
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Agenda - Economic Development Authority - 07/16/2020
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3/14/2025 3:39:34 PM
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7/20/2020 1:54:27 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
07/16/2020
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limited to, all salons and shops licensed by the Minnesota Board of Cosmetologist <br />Examiners and the Minnesota Board of Barber Examiners <br />• Art and music studios. <br />• Bowling alleys, skating rinks, and other similar recreational or entertainment <br />facilities <br />• Other businesses deemed non -essential under Executive Orders. <br />• Other businesses as approved by the EDA. <br />2. The business shall have a physical business address (proof of address required) within the <br />city (not a home -based business) and have been operating within the city long enough to <br />demonstrate financial viability; <br />3. The business shall employ between 3 and 25 Full Time Equivalent (FTE) employees prior <br />to the issuance of the State of Minnesota Emergency Executive Order 20-04 (March 16, <br />2020) and make $1 million or less in annual gross revenue. Businesses with less than 3 <br />employees will be considered on a case -by -case basis; <br />4. The business must have been in operation for a least 6 months prior to March 1, 2020. <br />5. All businesses must serve the general public and be a conforming or legally non- <br />conforming use under the current zoning regulations of the city, must not be in violation of <br />the city's zoning code, and must not have any delinquent taxes, bills, or charges due to the <br />city; <br />6. Applicants are strongly encouraged to claim all applicable private and public insurance <br />and utilize all other sources of applicable assistance available from other private and <br />public sources, including but not limited to requests for rent/mortgage, utility and/or <br />loan deferrals/forgiveness. Applicants are also strongly encouraged to apply for an <br />Economic Injury Disaster Loan through the Small Business Administration (SBA) and Small <br />Business Emergency Loan through the Minnesota Department of Employment and <br />Economic Development (DEED) prior to applying for this grant. For more information, <br />visit: <br />Guide to financial resources for Minnesota small businesses <br />While not absolutely required, applications which include proof of application submittal, <br />acceptance, approval and/or denial of State and federal emergency financing programs <br />will receive additional consideration. <br />Additionally, businesses are strongly encouraged to contact their landlords or <br />mortgage holders to request rent or mortgage payment deferrals/forgiveness. <br />7. Assistance cannot be provided to businesses or non -profits that: <br />2 <br />
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