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<br />~__~,;., ....:....i:4;;~;:~S:...::'~:.;;Z.d~;fZ~:2"2~a~:.:..:. i.2;;:.:?;r""~::~:i'Y..;'.~..:.:'",,,~~:i:';'-:-~,;~<O:';:-'~--- <br /> <br />City and EDA of Ramsey Business Subsidy Policy <br /> <br />4 <br /> <br />c. Growth Potential: Based on recipient's market studies and plans for <br />expansion, whether and to what extent the project is expected <br />within five years of its completion, be expanded to produce a net <br />increase of full time equivalent jobs and of payroll, over and above <br />the minimum net increase in jobs and payroll described in section I <br />above. <br /> <br />6. Quality of Life .. <br /> <br />a. Community Services. Whether the project will provide services in <br />the community and the need for such services. For example, the <br />project may provide health services, retail convenience services <br />such as a nearby grocery store, or social services needed in the <br />community. <br /> <br />b. Natural Environment. Whether the project will add to, or detract. <br />. from, the environment. It is a reflection of what is important to <br />. the community - clean air and water, beautiful scenery, recreational <br />opportunities, and a strong desire to pass along these attrilJUtes to <br />future generations. <br /> <br />7. Other. <br /> <br />a. Other Factors. Dependingon the nature of the project, such other <br />factors as the City may deem relevant in evaluating the project and <br />the business subsidy proposed for it. <br /> <br />D. AD~ITIONAL CONSIDERATIONS <br /> <br />The City will give consideration to one or more of the issues listed below in <br />determining whether to provide fmanciaI or other assistance to a project as <br />a business subsidy: <br /> <br />1. The CitY may consider the requirements. of any other business subsidy <br />received, or to be received, from a grantor other than the City. <br /> <br />2. If the business subsidy is a guaranty, the amount of the business <br />subsidy may be valued at the principal amount of the guaranteed <br />payment obligation. <br /> <br />3. If the business subsidy is real or personal property, the amount of the <br />subsidy' will be the fair market value of the property as determined by . <br />the City: <br /> <br />The Economic Development Authority and City of Ramsey, Minnesota. Policies. <br />17 <br />