Economic Development Authority Meeting Date: July 27, 2026
To: Members of the Economic Development Authority
From: Scott Wopata, Community Development Director
Emery John, Interim Program Coordinator
Title
EDA Financial Assistance Evaluation Discussion Kickoff
Body
Action Requested:
N/A
Summary Report:
As our adopted workplan articulates, our first key initiative is rebuilding our financial assistance programs and partnerships. The first step within this initiative is to create a shared understanding of our existing programming through an evaluative process.
This presentation is designed to begin a conversation of evaluating these programs. We are looking for feedback, questions, and points of further conversation that EDA policy makers would like to see incorporated.
Staff is planning on engaging both applicants and recipients of each of these programs to gain a qualitative understanding of the programs. That information and feedback has not yet been incorporated into this presentation, though it is informing our work and the creation of a pilot program for the fall.
Currently, the EDA runs two programs - the Clement Shearer Micro-grant program and the Revolving Loan Fund. We recently finished our last funded round of the Façade Improvement Program. This presentation also considers the DEED funded Mainstreet grant program, which we administered with our partners at SMIF.
Between these programs, we see a clear need for downtown building renovation help. We also see, however, a lack of focus on any other area of Northfield geographically, and any sector specific stimulus. Additionally, there is a notable gender and racial equity gap present in our larger revolving loan program. These are examples of our first-line takeaways that we are looking to build into a more comprehensive evaluation strategy, which is the original long-term goal of the workplan initiative.
City Plans & Policies Relevance:
Comprehensive Plan Ch. 4: Sustainable economic future
Strategic Plan: Tax Base Diversification and Growth
Alternative Options:
N/A
Financial Impacts:
N/A
Tentative Timelines:
June EDA Meeting - Approval of workplan
July EDA Meeting - Program evaluation kickoff
Fall 2026 - Pilot Program Launch