Agenda - Council - 12/11/2012 - Laserfiche WebLink

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structural alterations are necessary to occupy the existing space. In addition, Staff does not want to put the City in the position of making a determination of what party actually paid the SAC fee (landlord or tenant). There would be an increase in the amount of administrative time required to track Minor Transfers. Staff would recommend that if if is the City's desire to permit Minor Transfers that this only be used upon approval of the Property Owner (not the tenant) and a lien or recordable document be placed on the Property to ensure proper tracking and survival of sale of property. Small Business Loan Program The Metropolitan Council is also recommending implementation of a Short Term Loan Program that allows the City and Developer to pay SAC obligations over time, with interest. The program would be limited to smaller users often (10) SAC Units or less. The entire SAC amount would not be required to be paid up front. The City would be responsible to ensure annual payments and be required to enter into a Loan Agreement with the Metropolitan Council. Again, some additional administrative time would be required to administer the program. It is the Metropolitan Council's intent to have the new policies effective 1/1/13. Staff is placing this item for consideration at this time to attemp to match this date and have any revised policies effective coinciding with the effective date of the 2013 Rates and Fees. This case was reviewed at the November 27, 2012 City Council Work Session. At that meeting, Staff was directed to implement the policy and place on a future consent agenda. At this time, the policy is eligible for adoption. Recommendation: The EDA met on Thursday, November 8th and recommended approval of the policy to allow Net SAC Credits to be applied Citywide and to create a SAC Small Business Loan/Deferred Payment Program and to recommend that the City Council monitor the success and administrative overhead required to implement these two programs before considering a Minor Transfer Program. Funding Source: Implementation of the program is being handled as part of regular Staff duties. Council Action: Motion to adopt the policy to allow Net SAC Credits to be applied Citywide and to create a SAC Small Business Loan/Deferred Payment Program and to monitor the success and administrative overhead required to implement these two programs before considering a Minor Transfer Program. Attachments Background Presentation Proposed Policy DRAFT EDA Minutes dated November 8, 2012 Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 12/05/2012 03:41 PM Form Started By: Tim Gladhill Started On: 12/04/2012 Final Approval Date: 12/05/2012