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By: <br /> <br /> DISCUSSION REGARDING FUNDS FOR <br /> ECONOMIC DEVELOPMENT ACTIVITIES <br />Anne L. Norris~ Community Development Director <br /> <br />CASE #3: <br /> <br />Background: <br /> <br />As you recall, during the 1987 budget process, the City Council allocated <br />approximately $50,000 to be used for economic development activities. The <br />Council directed that these funds be used for the 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 />At its last meeting, the Commission requested Staff to compile a list of <br />incomplete Star City activities that could be completed by an intern or <br />consultant. For your information, enclosed is a list of these activities. <br /> <br />Observations: <br /> <br />As you know, the Council has approved an agreement 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, CDBG funds will be used to finance the Highway 10 <br />Corridor Study. <br /> <br />Recommendation: <br /> <br />The Commission should discuss how to proceed with the above economic <br />development activities. <br /> <br />Review Checklist: <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 />