--- ## title: 2025 City of Edina Powerpoint Template ## author: Bill Neuendorf date: D:20190721043656Z --- ## Grant Agreement with WOLD, LLC ## dba Smith Coffee & Café ## 3948 W. 50 th ## Street ## Presentation to Edina Housing & Redevelopment Authority August 13, 2026 2 ## Edina’s SPARC Program - ## Background •Established 2021, amended 2025 •Based on statewide legislation intended to attract investment, create private sector jobs and strengthen tax base •Program terminates Dec. 31, 2026 •Uses existing (incremental) property taxes previously collected in Edina •Edina pooled up to $10.28 million from three commercial TIF Districts to fund this program •Approx. $1.0 million remains available 3 ## Edina’s SPARC Streamlined Grant Program - Overview •Easy to implement for small businesses •Intended for remodeling and expansion •Applied only when needed •Eligible expenses could include: •Permanent improvements to increase handicapped accessibility and/or energy efficiency •Other permanent improvements critical to open and expand business •Requires matching investment from owner / operator •Lesser amount of: 50% of total project costs, or 100% of eligible costs •Capped at $24,000 per business •Work to be completed by Nov. 2026 •Reimbursable after completion of work and submission of invoice for eligible work •Grant-funded work must remain with the property in case business closes 4 ## Edina’s SPARC Program – Evaluation and Compliance ## Procedures ## Typical Process for Consideration of SPARC Investments Step 1Staff works with prospects, review need and eligibility, prepare Grant Agreement using template created by HRA/City attorney ## Step 2Present Grant Agreement to HRA Board for consideration Step 3Applicant to hire contractors and complete work Step 4Applicant submits request for reimbursement Step 5Staff reviews pay request for compliance ## Step 6HRA Chair & Secretary issue Certificate of Completion Step 7Staff issues reimbursement by 12/31/2026 5 ## Project Location -3948 W. 50 th ## Street 6 ## Streamlined SPARC Grant Recommended •Location: 3948 W. 50 th ## Street ## •Business Owner: Alex and Ann ## Schuster •Type of Business: coffee café with food service •Reason for Grant Request: high costs of construction to modernize outdated food prep area •Project Schedule: completion by Nov. 2026 •Scope of Work: complete remodel of former D’Amico restaurant •Eligible Grant Work: new ceiling, plumbing and electrical in food preparation area to meet modern standards • ## Job Creation: Yes • ## Total Investment: $400,000+ • ## Eligible Costs: $28,000 • Reimbursable Grant: not to exceed $24,000 7 ## Recommended Action Staff recommends that the HRA Board approve the SPARC streamlined grant agreement with WOLD, LLC dba Smith Coffee & Cafe and authorize staff to implement the terms of the agreement.