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Draft 03/05/99 <br /> <br /> CITY OF RAMSEY <br />ECONOMIC DEVELOPMENT AUTHORITY lEDA] <br />PROJECT FINANCING GUIDELINE <br /> STATEMENT OF POLICY <br /> MARCH 1999 <br /> <br />Section 1. Purpose. The EDA hereby adopts these guidelines in order to provide <br />a framework in which the EDA may review development proposals requesting public <br />assistance. It is the purpose of the guidelines to state in general terms the policies of <br />the EDA regarding assistance to private development, including the type of <br />development the City wishes to encourage, the location of such development and the <br />types of assistance which the EDA is inclined to support. <br /> <br />Section 2. Criteria for <br />following criteria shall be <br />development funds. <br /> <br />Evaluation of Request for Public Assistance. The <br />utilized by the EDA in evaluating expenditure of <br /> <br />The EDA will not provide financial development assistance to <br />residential projects that are not consistent with the City's housing <br />action plan or any residential use outside of the Metropolitan Urban <br />Service Area (MUSA) . For Commercial and Industrial uses or for <br />Residential uses inside the MUSA the principal intent of project <br />funding will be: <br /> <br />2. <br />3. <br />4. <br />5. <br />6. <br />7. <br /> <br />Extension of water/sanitary or storm sewer <br />Street improvements <br />Environmental mitigation of negative impacts <br />Development of parcel site improvements <br />District or City-wide reduction in blighting influences <br />Commercial/Industrial retention, expansion or attraction <br />Housing consistent with the Livable Communities Action Plan <br /> <br />Further, it is intended that when expenditures are directly related to a <br />development proposal, the EDA will complete an EDA project <br />proforma detailing the return on investment of funds. <br /> <br />Number of Jobs Created. In recognition of the goals of the Municipal <br />Development District Act and Tax Increment Financing (TIF) Act that <br />jobs be created or preserved through TIF, it is the policy of the City to <br />favor labor intensive developments over those seeking a similar amount <br />of assistance but providing fewer jobs. Although construction jobs are <br />of significance in this regard, it is the number of full-time or part-time <br />permanent jobs in which the City is predominantly interested. <br /> <br />Types of Development. The EDA intends to promote development of <br />the City in conformance with the Zoning Ordinance and <br />Comprehensive Plan. The EDA will consider requests for assistance <br />for all types of development, including residential projects, but will do <br />so only where the proposed development is consistent with the general <br />plans for development of the City as a whole. <br /> <br />Page 1 <br /> <br /> <br />