Once a completed application has been received, the loan request will be scheduled for consideration at the next regularly scheduled EDAB meeting. Meetings are generally held once every quarter at Orland Park's Village Hall.
In reviewing the merits of the request, the EDAB gives consideration to the following factors:
1. The enhancement of the overall tax base, including property taxes returned to the Village.
2. Diversification of the property tax base through construction of new office, industrial, warehouse, distribution, and related facilities.
3. A tax revenue/return analysis that insures the tax burden for residents will be favorable.
4. Encouragement of private investment through these public loan dollars.
5. Location of projects within areas of the Village targeted for industrial and commercial growth.
6. Creation or retention of quality full-time permanent jobs over the course of the project and beyond.
7. Adequate credit worthiness of the loan.
8. Conformance of the project to Village land use and economic development goals, policies, and objectives.
(Ord. 5204, 7-17-17)