The Village of Menomonee Falls Economic Development Master Fund (EDMF) was established to increase the tax base of TID No. 9 through the retention and expansion of existing businesses, the development of new businesses, and/ or through physical improvements to existing buildings and properties in the district. The EDMF Grant program is designed to encourage business development, while providing for the recapitalization and growth of the program.
The monies in the EDMF shall be the property of the Community Development Authority (CDA) and funding decisions relative to EDMF Grant applications shall be made by the CDA; however, the CDA delegates decision making authority for matching grants of $10,000 or less to the Director of Economic Development and Tourism. Village Staff shall be responsible for the day-to-day administration of the EDMF Grant program, and shall present an annual report to the CDA outlining all EDMF Grants issued in the calendar year.
Available funding for the EDMF Grant program will be established by the CDA on an annual basis. In those instances where EDMF grant requests exceed available funding, applications will be prioritized based upon the date of receipt of all requested application materials, the community benefit, and the amount of private sector leverage that is included in the project. When deemed appropriate by the CDA, as determined by it in the exercise of its sole discretion, the amount of EDMF monies contributed to each project may be reduced in order to facilitate as many grant requests as possible.
The CDA has the role of determining whether a project is ultimately eligible for EDMF funding, but delegates this role to the Director of Economic Development and Tourism when the matching grant is $10,000 or less.