General Program:

1. The City of New Orleans will use Economic Development Fund in accordance with all City of New Orleans guidelines and regulations.
2. The City will accept Economic Development Fund applications once a year.
3. The City will make every effort to review and submit all applications to the Economic Development Committee on a timely basis.
4. Economic development projects or activities include but are not limited to, physical infrasrtuctures, including buildings that enhance private debt, venture, or seed capital. Such projects or activities may include but are not limited to those projects that are within the normal purview of city government, including, but not limited to projects or activities that enhance trade, commerce, or the attraction of visitors to the city.
5. The City will not finance any projects that do not have a current funding in place for more than or equal to the amount applied for.
6. The minimum goal for job creation will be one permanent, full-time
7. Each project, subsequent to the staff review and Cost- Benefit Analysis (CBA),will make a presentation to the Economic Development Advisory (EDA) Committee.
8. The grant amounts are fully dependant on the approval of the Mayor, the Economic Development committee, the Special Projects Committee, the Budget Committee and the full City Council.

Application:

1. The Economic Development Fund Project Manager/Coordinator will oversee all elements of the application process and will be responsible for briefing the Executive Assistant for Economic Development and Economic Development Advisory Committee.
2. The Economic Development Application to the city will be prepared by the applicant with assistance from the Office of Economic Development, if needed. 

Management:

1. The Office of Recovery and Development Administration will manage the Economic Development Fund.
2. The Office of Recovery and Development Administration will defer to the City Council for final approval.
3. The City will monitor public benefit standards and compliance with Administrative and Council objectives on at a quarterly basis as determined by current City Council precedents.
4. Applicants should be prepared to report to the Economic Development Advisory Committee, the Special Projects committee, the Budget Committee and or the City Council on a quarterly basis with a prepared report documenting progress against the goals set forth in the application.