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Planning Commission Housing Assistance Policy Sub -Committee <br />Interim Policy Statement <br />On March 26, 2013 the City of Ramsey began drafting a Housing Assistance Policy to help guide the City <br />in analyzing requests for City Assistance for housing projects. While the policy is completed through the <br />assistance of an ad -hoc sub -committee of the Planning Commission, the City hereby issues the following <br />Interim Policy Statement to guide current and future requests until such time the formal Housing <br />Assistance Policy is adopted. The final policy is anticipated to be completed in mid -year 2013. <br />It is hereby the Interim Policy of the City of Ramsey that assistance to housing projects will be <br />considered for the following criteria: <br />1. Tax Increment Financing (TIF) will not be considered except for rehabilitation projects or <br />redevelopment projects. In addition, any housing project the meets the criteria of the preceding <br />statement must provide an increase of _% of taxable market value to the community. <br />2. The City will consider the use of third -party funding such as grants or third -party fund balances. <br />3. The project must demonstrate that it will achieve at least one goal of the City's Housing Plan <br />(Chapter 7 of the Comprehensive Plan). Successful achievement of the Housing Goal must be <br />illustrated by the successful completion of at least one (1) implementation strategy of the <br />identified Housing Goal. <br />4. The project must demonstrate its credit -worthiness. The Developer must submit a project pro - <br />forma and a summarized Sources and Uses table. <br />Akv\--'•\ <br />