2008 Work Plan
D. Provide Economic Development Assistance to New and Existing Companies as well as to Important Projects and Activities that have Significant Economic Development Benefit
D.1
- Lend a minimum of $500,000 from MAEDC’s revolving loan programs to no less than four borrowers who, in turn, will create or save at least 50 jobs in the Missoula area.
D.2 - Seek additional capital for MAEDC’s RLF program from a variety of sources, including the EQ2 program offered by Wells Fargo Bank, the Intermediary Relending Program administered by USDA/Rural Development, the Montana Community Development Block Grant Program, and the Sudden and Severe Economic Dislocation Program of the U.S. Economic Development Administration.
D.3 - Continue MAEDC’s relationship with the Community Reinvestment Fund by originating and selling at least two loans to CRF’s New Markets Tax Credit and Business Loan Purchase programs for a total minimum amount of $750,000.
D.4 - Investigate the local market for SBA 504 loans and, if sufficient demand is evident, consider establishing a new CDC to originate loans or contact with another CDC in Montana to package 504 loans.
D.5 - Continue to work with the developer of the Missoula Sawmill Site and the City of Missoula to secure final approval of the Voluntary Cleanup Plan by the Montana Department of Environmental Quality and manage the Brownfields RLF to include a $200,000 paydown.
D.6 - Recapitalize the Brownfields RLF administered by MAEDC on behalf of the City of Missoula by securing an additional $1,000,000 in grant funds from EPA and providing the required $200,000 match from program income generated by the existing Brownfields RLF.
D.7 - Draft a memorandum of agreement that will be used to establish a regional Brownfields RLF Program in West Central and North West Montana, and work with local development corporations in the region to finalize the MOA. Involve the Environmental Studies Department at The University of Montana to help identify Brownfields sites in Western Montana that have potential for redevelopment. On behalf of the regional partners, prepare and submit an application to EPA for funding from the Brownfields RLF Program.
D.8 - Using the analysis of the economic impact of the Bitterroot Resort as a guide, continue to educate MAEDC and Chamber of Commerce members and the general public regarding the economic benefits of the proposed project. Monitor plans submitted by the Resort to ensure that infrastructure improvements are included that will mitigate negative impacts of the Resort on water quality, transportation systems, and land use.
D.9 - Assist AquilaVision, a MonTEC tenant, with implementation of the company’s OTTER offender tracking system, MONTS project, and vehicle tracking contract with NATO.
D.10 - Assist GTC Nutrition and its parent company, Corn Products International, with re-establishment of production at the former Nurture facility in Missoula. Work with the new owner and the City’s Public Works Department to reduce the cost of sanitary sewer service provided by the City of Missoula.
D.11 - Provide technical assistance to the Seeley Lake Water and Sewer District regarding proposed infrastructure improvements to the community and Pyramid Mountain Lumber.
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