Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Elevate Hennepin topic
No spam. Unsubscribe anytime.
Dayton EDA approves Elevate Hennepin participation, citing program value to small businesses
Summary
The Dayton EDA approved Resolution 4‑24 to continue participating in Elevate Hennepin, noting the county program provides business advising and two loan products; Dayton's cost is $2,500 per year and staff reported approximately 140 consultant hours used in Jan–June.
The Dayton Economic Development Authority voted to continue the city's participation in Elevate Hennepin and approved Resolution 4‑24 authorizing the multi‑jurisdictional agreement.
Speaker 4 described the county program as one that "partners with different advisors to offer free advice to area businesses" and said the 2025 program includes two loan products — a $50,000 loan and a $350,000 loan for commercial‑space leases — while Dayton's cost to participate is "$2,500 per year." Speaker 4 also said consultants have logged roughly 140 hours providing assistance to Dayton businesses from January through June.
Members said the investment appears to deliver value compared with typical consultant fees. Speaker 6 referenced a background that showed 140 hours used during the reporting period and members agreed continuing the agreement was appropriate. Speaker 6 said, "Yeah, so pretty good utilization, I'd say."
The EDA moved and carried the motion to approve continuation of Elevate Hennepin and to have staff track results for the coming year. Staff will include program details in planned outreach materials and a forthcoming Dayton Chronicle article, and will bring periodic utilization reports to the EDA.
