EDA Meeting Date: March 24, 2025
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Title
Staff Updates on Outstanding EDA Items and City-Wide projects
Body
Action Requested:
No action. There are a number of outstanding items related to the EDA. Below is a summary update on each item. Staff will provide an update during the meeting and the Board has the opportunity to discuss each item individually if desired.
Summary Report:
EDA Partnership with Latino Economic Development Center (LEDC)
In an effort to expand the EDA entrepreneurial resources, City staff engaged the executive director of the Latino Economic Development Center (LEDC) to discuss potential partnership. As a result of those discussions, a Memorandum of Understanding (MOU) was drafted and executed. (See attached) This MOU is a six-month pilot partnership with no financial obligations. More information will be provided to EDA Board members in the near future.
Northfield Climate Champions
The City of Northfield's Climate Champion Program empowers local businesses to reduce energy consumption, cut costs, and champion climate action. Participating businesses will collaborate with Energy Smart to conduct a professional energy audit, identify opportunities for improvement, and implement recommended energy efficiency upgrades. The EDA agreed to be the financial conduit for this program in 2021. More information is included in the attachments.
EDA Fa?ade Improvement Grants
The Fa?ade Program is currently closed for applications. More information on the program can be found here: https://www.northfieldmn.gov/753/EDA-Grants-Loans
Staff will update the EDA when awards have been given to the selected applicants.
EDA Future Micro-Loan Programming
The EDA approved a budget allocation for a pilot Micro-Loan program. Staff will be preparing this item for future discussion at a later EDA meeting. For an example please review the City of Brooklyn P...
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