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DIS(~JSSION R~m~DIN~ FUllS FOR <br /> E(II~IC ~ ACTIVITIES <br />Anne L. Norris, C~munity Deve/olmmnt Director <br /> <br />%4: <br /> <br />As you recall, during the process for the 1987 budget, the City Council <br />allocated approximately $50,000 to be used for economic development <br />activities. The Council directed that these funds should be used for the <br />following activities: <br /> <br />1. Inventory of commercial and industrial property. <br />2. Developers' Packet. <br />3. Promotional Packet. <br />4. Advertising and Promotional Activities. <br />5. Study of Highway 10. <br />6. Revolving Loan Fund. <br /> <br />In addition, the Council allocated approximately $ 18,000 to be used for <br />contracted economic development services. <br /> <br />Cbservations: <br /> <br />As you know, the Council has approved an agre~nent with the Ramsey Economic <br />Development Company to administer a revolving loan fund for economic <br />development activities using Community Development Block Grant (CDBG) <br />funds. In addition, (~BG funds will be used to finance all or a portion of <br />the Highway 10 study. <br /> <br />14ecc~tion: <br /> <br />The Commission should discuss how to proceed with the above economic <br />development activities. <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Development Director <br /> <br />X <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Superintendent <br />Other <br /> <br /> <br />