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communities like Minneapolis, St. Paul, and Bloomington, Orono is <br />not a recipient of these funds and so is subject to the program <br />operation done by the County.) <br />DISCUSSION - For the Year XIII program the City has been <br />al 2 ocated $23,775.00. As noted in Attachment B the City has <br />received a request from a private non-profit group called HERO <br />(Hennepin Economic Resource Organization) who is looking for <br />selected allocations from each of the communities so that they <br />can purchase real estate in order to establish an <br />incubator/accelator for small business in order to stimulate job <br />stimulation. At present this is anticipated to be located in a <br />first ring suburb in the area. While this request ($1,172) does <br />not repre:.ent a substantial share of the City's funding, the <br />staff dcet; not recommend allocation to this group for the <br />folIowin�t reasons. <br />a. It may provide economic advantage for certain small <br />businesses over other small businesses in the local area <br />for reasons of timeing, access etc. <br />b. It provides economic advantage for this property <br />as rental over other property and may put it in direct <br />competition for other low cost rental properties in the <br />metro area. <br />C. Essentially this is a facility that may not directly <br />benefit in either 'Onsiness or job creation for persons <br />in the Orr)no area. <br />On- of the qualifying activities that head been used by a number <br />of communities including Orono has been the use of monies for a <br />housing rehabilitation program. Under this program the residen.A <br />of the community arr. able to apply for grants to make certain <br />improvemen`s to their housi, in order to keep housing stock up. <br />Over the past few years approximately 38 householders have been <br />benef itted by these funds (averaging $6,900 per recepient) and <br />the County currently has had a number of individuals from the <br />Orono Community who, if the funds were available, would apply for <br />such funds. <br />The other probahle fundin_3 allocation would be for �omet.hing in <br />the Stubbs Bay sewer are,. Because of the funds cycles for this <br />program and the anticipated layout for any Stubbs Bay project, <br />even if the go-ahead we -re given yet in 1987, the tunding of such <br />would not probably occur in a tirrely e,nnugh manner to use these <br />funds for Orono r­,identn,. �';r,a111 thx-- fund5 not be committed by <br />December 31 of this yt~ar individuals the funds revert to <br />Hennepin County 'II,d ire rr,iii,trirut.ed through their <br />"discretionary fund". (It. :9,_ fro!,! thi. funel that the City had <br />applied in February for a(iiiti n,)l ar,-sntr; fnr a total of $25,000 <br />for recipients in the Cryc;,-a i ';,iy noighc�or`)nod. The Task Force <br />that nakrs clncistrn; on this it] r— t, thi:: p,,!.t weok and it is <br />ant icipl,ted that they wi l 1 -. ik,, i f.r cl iminary derision can this <br />money tvw week of `lar(-h lilth.) <br />2 <br />