EDA Meeting Date: July 28, 2025
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Title
Review of Micro-Grant Application for Tin Tea, LLC
Body
Action Requested:
EDA Board shall review the Micro-Grant Application and make a motion of approval per the EDA Loan Committee’s recommendation.
Summary Report:
Tin Tea, LLC is requesting a $5,000 Micro-Grant from the Clement Shearer EDA Micro-Grant Program. The owner, Chau Truong, has provided an application for the funds, which can be found attached to this report. This application was provided to staff on June 20. Staff has reviewed the Micro-Grant application thoroughly.
Tin Tea has been in operation since June 2021. The business offers high-quality drinks and food while promoting Vietnamese culture.
At this time, Chau is in-process of a business expansion and relocation opportunity that involves significant build-out investment of an existing downtown space.
The business is seeking assistance from the EDA for the equipment costs related to the expansion project. The applicant will be contributing $69,000 to the project.
Total Project $74,000
The EDA Loan Sub-Committee met on July 17, 2025, and the committee provided a recommendation of approval for the Tin Tea, LLC Micro-Grant.
Alternative Options:
The EDA Board may make a motion to deny the Micro-Grant application.
Financial Impacts:
The EDA has $15,000 for Micro-Grants in the 2025 EDA budget. No other Micro-Grants have been approved in 2025.
Tentative Timelines:
The applicants project is in-process with an anticipated opening date of later this summer.