The Economic Development Department utilizes its limited funds for the maximum benefit to the City of Orange. To that end, the Department evaluates each request for assistance using certain criteria. The Department seeks to assist projects that:
Increase/create new property tax increment.
Increase/create new revenue and retain top revenue generators.
Increase/create jobs or retain top employers in specific industries.
Serve as a catalyst to stimulate additional private investment in the surrounding area.
Improve aesthetics of neighborhoods and/or business districts. (Exterior improvements are favored over interior improvements.)
Would not happen without City’s financial assistance.
Demonstrate ability of applicant to repay loan.
Involve experienced, qualified applicants with a proven track record.
Comply with City ordinances, regulations, etc.
Redevelop under-utilized properties.
Include leveraged funds from other sources.
Exhibit significant financial contribution on the part of the applicant.
“Pay” their fair share of City services.
Provide benefit to the City in proportion to the amount requested.
Support other City Departments/Programs when feasible.
Application Procedure
As the funding for Financial Assistance is supported solely through public funds, a thorough review of the application is required.
The applicant must submit a completed Financial Assistance Application, including all necessary attachments.
The completed Application will be submitted to the Economic Development Loan Committee for review.
If the Loan Committee recommends approval of the Application, a Loan Agreement will be prepared for approval by the Executive Director of the Redevelopment Agency or the Orange Redevelopment Agency Board of Directors (City Council) depending on loan amount.
In conjunction with the processing of the Financial Assistance Application, the applicant must present plans to the Planning Division of the Community Development Department for the appropriate land use approvals which may require further review through the Staff Review Committee, the Design Review Board, and possibly the Planning Commission and City Council.
Final Loan Agreement documents will not be executed by the Agency until the applicant has received all necessary land use approvals and operational permits. All requests are dependent upon availability of funds.
