Agenda - Council - 05/24/1984 - Laserfiche WebLink

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I I I I I I i I I I I I I I I I I I I proven extremely useful to many public entities when trying to answer the always present and forever difficult question of how much subsidy is enough subsidy. This system was developed because we believed that public entities were at a distinct disadvantage in contract negotiations if they didn't understand the potential profit margins in this and other similar transactions. From 1976 through 1979, Holmes & Graven represented an ad hoc committee of the League of Minnesota Cities and the Minnesota Chapter of The National Association of Housing and Redevelopment Officials in working with the Minnesota legislature to rewrite and reorganize the state's tax increment financing laws. As a condition of enactment of the 1979 uniform law, the League of Cities agreed to provide housing, development, and redevelopment technical assistance to cities of the state. Three persons staffed this effort from I979 through I981, when two of the three joined Holmes & Graven. The Technical Analysis Department now provides similar service to Holmes & Graven clients with an extremely broad background in project feasibility studies. A list of cities for which they have worked, both at the League of Cities and Holmes & Graven, is attached as Appendix I. Finally, six (6) of our attorneys devote their time to litigation matters, approximately fifty percent (50%) of which involve government clients. Apart from condemnation cases, this department has handled matters involving the open meeting ]aw, development contracts, construction disputes, bidding questions, labor relations, discrimination claims, title disputes, public purpose questions, environmental claims and municipal anti-trust allegations. Once again, we would like to emphasize that we do not propose to do any work currently done by your legal counsel. Our role is as a facilitator to assist the City in accomplishing those redevelopment activities which it could otherwise not accomplish on its own. PROPOSAL Upon receiving a request for assistance from the City Administrator of the City of Ramsey, the staff of the Technical Analysis Department proposes to discuss with city staff the city's plans for redevelopment and possible methods of financing and, if appropriate, to visit some current and potential sites for redevelopment in Ramsey. Several revenue sources might be considered by the city in connection with a public/private economic development venture with varying combinations of private equity, CDBG funds, tax increment financing, revenue o~ general obligation bonds, assistance through commercial rehabilitation or interest reduction programs, and other city, state or federal funds. Since the city's comprehensive plan and other planning documents have already been completed by the City, it would be necessary to review the current plan for development to determine in what manner the economic revitalization should be implemented -- whether in stages or concurrently. The key to revitalization of the area is a program for development which is in harmony with the long-range objectives of the City while achieving these goals utilizing feasible financing mechanisms. We propose a contract with the City of Ramsey whereby the firm of Holmes & Graven, Chartered wi]] review with city staff its plans for commercial, residential and industrial development or redevelopment to provide suggestions for the use of various redevelopment tools and assistance with their implementation, if desired. Our assistance includes the review and development of the program in five phases, -2-