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

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Small Business Loan Eligibility Eligible applicants are all commercial and industrial users with a SAC Determination of ten (10) SAC Units or less and within the City limits. All applicants must be a permitted use in compliance with all laws, zoning ordinances, rules and regulations applicable to the business. All Applicants must be current on all City taxes, assessments, and utility bill payments. The Ramsey City Council will review each applications for Small Business Loans on a case -by -case basis and reserves the right to exclude activities not consistent with the City's Comprehensive Plan, or if the concept does not benefit the health, safety and welfare of the community. Applicants do not need to fill out the following application, but do need to request the deferred payment plan in writing. Application Process Applicants for Net Credits must submit a completed SAC Transfer and Loan Application and all required attachments to the City's Community Development Department. City staff will make every effort to review completed applications within a three-week period of time. The Ramsey Economic Development Authority will make a recommendation on the SAC Transfer Application to the Ramsey City Council. Applicants will be notified of EDA and City Council meetings and may be asked to attend to present their request for assistance. Any financial assistance to economic development programs as part of this program is subject to City Council approval. Moreover, such financial assistance is limited by the availability of Net SAC Credits. Applicants for the Small Business Loan must submit their request in writing and specify the amount being requested as well as the proposed length of repayment. Payments must be made on entire SAC Units; payments for partial SAC Units will not be accepted. As the program is administered by the Metropolitan Council with the City, the process defers to Metropolitan Council policies and procedures. Implementation Procedures The program does require the applicant pay upfront permit fees. To be in good standing with the City, applicant and/or landlords must be current on all municipal taxes, special assessments, City utility bills, or EDA loans. Outstanding balances will be assessed against the Property if the applicant and/or landlords fail to be current on these obligations. Outstanding balances will be assessed against the Property if the applicant discontinues the business, moves the business, or fails to comply with any and all building, fire, health, or zoning codes or regulations. As SAC is paid at time of Building Permit, assistance will be provided to the Project in the form of a reduction on the SAC Fee collected with the Building Permit. Sunset Date There is no sunset date on the SAC Credit, Transfer, and Loan Policy. The Policy will be updated as Metropolitan Council Program Guidelines are updated.