· Hermitage Planning & Development Department - MARCH 2011 Monthly Activity Report

Purpose and Role of the HCEDC

· evaluates and assists in all economic development in the City of Hermitage, reviews economic development projects and other projects having significant community impact, and advises the Hermitage Board of Commissioners regarding said developments and projects.

· reviews, evaluates, and makes recommendations to the Hermitage Board of Commissioners on applications for loans and grants through the various financial assistance programs administered by the City.

· reviews, evaluates, and makes recommendations to the Hermitage Board of Commissioners on the annual CDBG budget, including specific programs and projects detailed in the budget.

· reviews and makes recommendations to the Hermitage Board of Commissioners regarding City applications for state and federal grants and loans for community and economic development programs and projects.

· makes recommendations to the Hermitage Board of Commissioners regarding the economic development issues, policies, and programs relating to the retention and expansion of existing businesses and the attraction of new businesses to the City and region.

· provides ongoing monitoring of outstanding loans made by the City through various economic development loan programs administered by the City.

· makes recommendations to the Hermitage Board of Commissioners regarding site development, land acquisition, and land disposition necessary for the delivery of community and economic development programs and projects.