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The PSD LLC subsidy application was underwritten from two separate perspectives. (1) Financially. Is the PSD <br />LLC reasonable and justifiable? Please see attached MEMO from Ehlers. (2) Qualitatively. How does the proposed <br />PSD LLC request relate to the City's housing assistance policy? Please see attached "Staff Scoring" document and <br />"Staff Notes." <br />The EDA originally reviewed this request, in concept, on 09/17. In summary, they were in favor of drafting a TIF <br />Agreement for $500,000 of pay -go assistance to PSD LLC. The EDA vote was 4-0-1. Attached are minutes. <br />The City Council originally reviewed this request, in concept, on 09/22. In summary, they were in favor of drafting <br />a TIF Agreement for $500,000 of pay -go assistance to PSD LLC. The Council vote was 6-1-0. Attached are minutes. <br />Notification: <br />NA <br />Observations/Alternatives: <br />The attached TIF agreement was drafted by Ehlers and Briggs & Morgan. This agreement has been reviewed by <br />PSD LLC. This agreement is currently being reviewed by the City Attorney and City Staff. Moving forward, Staff <br />anticipates minor changes to language in this agreement (coming from Staff and the Attorney). <br />Funding Source: <br />Subsidy Application, PSD LLC <br />Assistance, TIF District #14 <br />Recommendation: <br />Please see background section of this case, "Assistance Request Section." Also, please see attached Ehlers MEMO, <br />Staff MEMO, and Staff Notes. <br />Action: <br />Recommend the City Council: <br />Approve the attached TIF Agreement between the City of Ramsey and Parkview East LLC; subject to final review <br />and amendments by the City Attorney. <br />Attachments <br />DRAFT TIF Agreement 10022015 <br />PSD LLC Request Letter <br />PSD LLC Housing Subsidy Application <br />Staff Notes <br />Ehlers MEMO <br />Staff Scoring of PSD LLC Housing Subsidy Application <br />Layout and Visuals <br />Funding Source (Why TIF) <br />EDA Meeting Minutes DRAFT 09172015 <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 10/05/2015 02:07 PM <br />Form Started By: Patrick Brama Started On: 10/02/2015 02:25 PM <br />Final Approval Date: 10/05/2015 <br />