City of Leon Valley Economic Development Corporation
Guidelines for Funding

I.  Statement

The City of Leon Valley Economic Development Corporation (LVEDC) will consider providing funds in accordance with the procedures and criteria outlined in these guidelines, the application and the LVEDC Policy (the “Policy”). Funding agreements will be considered for both new facilities and expansions of existing facilities and for the expansion or modernization of existing facilities and structures. Nothing in these Guidelines, Application or the Policy shall imply or suggest
that the LVEDC is under any obligation to provide any funding to any applicant.  Applications shall be filed with the LVEDC. All applicants shall be considered on a case-by-case basis.

II.  Applicability

The Policy establishes that all funding options, programs, and agreements shall be governed by applicable State statutes and adopted City policies relating to economic development.

III. Eligibility Criteria

Any request for LVEDC funds shall first be reviewed by the LVEDC Board. Any requests below ten thousand dollars may be approved by the board.  If the request exceeds ten thousand dollars and is approved by the Board, the Board will recommend approval to the City Council. Acceptance and approval by the LVEDC Board shall be based upon an evaluation of the Application for  funds Business (attached herein) and all accompanying support documents.

IV. Evaluation Criteria

1. The following criteria will be considered in determining what level of funding may be provided to the applicant:
    

2. Creation of permanent full time employment opportunities. The number and types of jobs to be created or retained (full time vs. part time)
    

3. Total capital investment in the project including site improvement, building cost, business personal property and other equipment.
    

4. Expansion of the local tax base.
    

5. Location of the proposed facility or operation.
    

6. Whether LVEDC funding is likely to influence the decision to locate the project in the City.
    

7. Whether type of activity is appropriate to the proposed area (e.g. office, retail, etc.)
    

8. The types and value of public improvements which will be made by the applicant.
    

9. Whether high quality architecture and site design including landscaping and public amenities beyond the minimum required by the City will be provided.
    

10. Whether the proposed structures will pursue Leadership in Energy and Environmental Design (LEED) certification.
     

11. To what extent City utilities will be used.
     

12. The types and cost of public improvements (e.g. streets, water, wastewater, drainage) and services (e.g. fire, police) which will be required of the City.
     

13. The market conditions and growth potential for the business activity.
     

14. The amount of time necessary to complete the project and create the jobs which are to be provided by the applicant.
     

15. Other funding and grants relating to the project for which the applicant has applied or is qualified.
     

16. Other factors set forth in the Policy.
     

17. Any other factors the LVEDC Board finds helpful and relevant to accomplishing the city’s economic development objectives.