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City of Ramsey 2030 Comprehensive Plan <br />Chapter 12: Economic Development <br />2. Livable Communities Act <br />By being a participant in the Metropolitan Council's Livable Communities Act, <br />the City becomes eligible for grants and loans that support development and <br />redevelopment of livable communities. The tax base revitalization account <br />provides funds to clean up contaminated land to support economic <br />redevelopment, job retention and job growth. This site could possibly assist the <br />City with any clean up costs that might be associated with unknown dumps on <br />potential industrial land or spills on redevelopment lands. <br />3. Tax Abatement <br />A new law created in 1997 allows Minnesota communities to individually <br />"abate" taxes on a parcel of land if the community can find that it is in the public <br />interest. Such public interest reasons may include to: <br />• Increase or preserve tax base <br />• Provide employment opportunities <br />• Help to acquire or construct public facilities <br />• Help redevelop blighted areas; or <br />• Help provide residents with access to services <br />4. Department of Trade and Economic Development <br />DTED provides support to local municipalities particularly geared towards <br />retaining businesses within the State of Minnesota. DTED will provide help with <br />creating an economic development plan and identifying strategies to implement <br />the plan. Financial assistance is available in the form of a variety of loans and <br />grants such as the Contaminated Site Cleanup grant program, which is designed <br />to assist communities in converting brownfields back into <br />marketable/developable industrial and commercial land. <br />City of Ramsey 2030 Comprehensive Plan Page 12-12 <br />