Establishing an R.L.F. Putting the Puzzle Pieces Together

Community Need Humboldt Population 4,452 Downtown revitalization Need for new business ventures in Central Business District Projects on-going New projects on the horizon Humboldt Population 4,452 Downtown revitalization Need for new business ventures in Central Business District Projects on-going New projects on the horizon

Creating a New RLF Discussion points/narrowing the focus Where will the money come from for RLF? Who will manage the RLF? Who will make RLF decisions (govern/operate the fund)? Who will be our target for loans? Discussion points/narrowing the focus Where will the money come from for RLF? Who will manage the RLF? Who will make RLF decisions (govern/operate the fund)? Who will be our target for loans?

Creating the RLF Partners MIDAS Council of Governments USDA-Rural Development Information Sources Bonding Attorney Business Community Economic Development Professionals Partners MIDAS Council of Governments USDA-Rural Development Information Sources Bonding Attorney Business Community Economic Development Professionals

Humboldt’s R.L.F. Central Business District RLF Utilizing Tax Increment Financing City of Humboldt operates the fund Use wide-based, expert review committee Set parameters that will be acceptable to all entities involved One loan since inception in late 2006 Central Business District RLF Utilizing Tax Increment Financing City of Humboldt operates the fund Use wide-based, expert review committee Set parameters that will be acceptable to all entities involved One loan since inception in late 2006

Administration Costs to administer Who will pay for those On-going oversight Who will conduct on-going oversight, payment coordination, etc. Indirect Costs Opportunity cost for not promoting business development in the Central Business District Costs to administer Who will pay for those On-going oversight Who will conduct on-going oversight, payment coordination, etc. Indirect Costs Opportunity cost for not promoting business development in the Central Business District

Administration Created an urban renewal plan Costs included in interest rate charged City of Humboldt provides on-going oversight with the loan review committee’s assistance Actual direct benefit for City included increasing valuation of former implement building by over $500,000 Created an urban renewal plan Costs included in interest rate charged City of Humboldt provides on-going oversight with the loan review committee’s assistance Actual direct benefit for City included increasing valuation of former implement building by over $500,000

Rustix Restaurant & Reception

Contact Information Lorie Bennett, City Administrator City of Humboldt PO Box th Street South Humboldt IA (515) (515) fax Lorie Bennett, City Administrator City of Humboldt PO Box th Street South Humboldt IA (515) (515) fax