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(5) How does this compare to the City's Housing Assistance Policy? <br />(6) Outside of question #3, how does this project help the City of Ramsey? <br />(7) What happens if this project doesn't move forward now? <br />(8) Why wouldn't the City consider the assistance request? <br />(9) What amenities does this project include? <br />(10) Why not tell PSD LLC to simply add more equity to the project to fill the gap? <br />(11) How does the timing of this request work with construction/government regulations? <br />The PSD LLC application was underwritten from two separate perspectives. If you would like to review, please see <br />attached MEMOs. <br />(1) Financially. Is the PSD LLC reasonable and justifiable? Please see attached MEMO from Ehlers. The <br />attached Staff Notes also provide comments on this item. <br />(2) Qualitatively. How does the proposed PSD LLC request relate to the City's housing assistance policy? <br />Please see attached staff MEMO. The attached Staff Notes also provide comments on this item. <br />Funding Source: <br />Anoka County HRA/ EDA account or TIF #14. <br />Recommendation: <br />Please see attached "Staff Notes" document. <br />Action: <br />Motion to recommend the City Council: <br />(direct or do not direct) staff to negotiate a business subsidy agreement with PSD LLC for $500,000 subsidy. <br />NOTE: staff is finalizing a recommendation on the funding source. It will be ready for the City Council. <br />PSD LLC Assistance Request <br />PSD LLC Housing Assistance Policy Application <br />STAFF NOTES <br />Ehlers MEMO <br />Housing Assistance Policy STAFF MEMO <br />Visuals <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 09/14/2015 09:39 AM <br />Patrick Brama Patrick Brama 09/14/2015 10:25 AM <br />Form Started By: Patrick Brama Started On: 09/11/2015 04:43 PM <br />Final Approval Date: 09/14/2015 <br />