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<br />ECONOMIC DEVELOPMENT ADVISORY COMMITTEE <br />AGENDA ITEM 3A <br /> <br /> <br />STAFF ORIGINATOR: Mike Grochala, Community Development Director <br />EDAC MEETING DATE: January 5, 2022 <br />TOPIC: Small Business Financial Assistance & Housing <br />Maintenance Assistance Programs <br /> <br /> <br />BACKGROUND <br /> <br />Staff would like to discuss establishing a small business financial assistance program for existing <br />businesses and a housing maintenance program for low income households: <br /> <br />The City currently has financial assistance options for larger new construction projects, such as <br />Tax Increment Financing assistance and tax abatement, but does not have an opportunity for <br />existing businesses with smaller expansion projects. Staff would like to discuss business needs <br />and potential programs. <br /> <br />The City has grant proceeds to implement a possible housing maintenance program for low- <br />income households and is looking for the Committee’s input. This could be in the form of a grant <br />or low interest revolving loan fund for properties that meet affordability guidelines. <br /> <br />EDAC CONSIDERATION <br /> <br />None required. Discussion only. <br /> <br />ATTACHMENTS <br /> <br />1. None