07-20-10 EDC Meeting - Laserfiche WebLink

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b. Direct Monetary Return on Public Investment. Arrangements made or to be made —4\ for the HRA to receive a direct monetary return on its investment in the project. For example,the business subsidy may be in the form of an interest bearing loan or may involve a project sharing arrangement. 5. Economic Development a. Leveraged Funds. For every dollar of business subsidy to be provided for the project, the minimum amount of private funds which will be applied towards the capital cost of the project. b. Spin Off Development. The dollar amount of non-subsidized development the project is expected to generate in the surrounding area and the need for and likelihood of such spin off development. c. Growth Potential. Based on recipient's market studies and plans for expansion, whether and to what extent the project is expected within five years of its completion, be expanded to produce a net increase of full time equivalent jobs and of payroll, over and above the minimum net increase in jobs and payroll described in section 1 above. 6. Quality of Life a. Community Services. Whether the project will provide services in the community and the need for such services. For example, the project may provide health services, retail convenience services such as a nearby grocery store, or social services needed in the community. 7. Other a. Other Factors. Depending on the nature of the project, such other factors as the HRA may deem relevant in evaluating the project and the business subsidy proposed for it. Adopted by: Date of adoption: Date of public hearing: 4