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Chairman Greenberg stated that the next item on the agenda was a presentation <br />of Local Development Corporation by Stephen Schmidt. <br /> <br />Stephen Schmidt - Mr. Schmidt stated that he is Chairman of the Anoka State <br />Bank and Tri-County National Bank of Forest Lake. The Local Development <br />Corporation is a public organization which is owned by local citizens and <br />business community that are concerned with economic health of the community. <br />The LDC can assist financially, provide location and funds for speculability <br />and give more leverage when dealing with companies. LDC can either be profit <br />or non-profit. Ramsey is looking at a non-profit organization~ A characteris- <br />tic of a non-profit organization is one voter per member, regardless of how <br />many shares they own. After a site is located, contact should be made with <br />LDC and we can build to suit. Another objective of the LDC is to eventually <br />become qualified through SBA to issue mortgage bonds at lower than market <br />cost. The Board of Directors of an LDC has basic responsibility of: <br /> <br />1. Determining profit or non-profit. <br /> <br />2. Determining amount of capital stock, power plan, draw up articles <br /> and by-laws and register articles. <br /> <br />3. Contact Securities and Exchange Commission for issuance and sale of <br /> stock. <br /> <br />Councilman Cox inquired what the cost per share would be? <br /> <br />Bob Muller stated that the Economic Development Committee is looking at $25/share. <br /> <br />Mayor Gamec stated that City Council is backing LDC with Federal Block Grant <br />monies. He also stated that Burns has donated their portion ($12,000) of <br />economic development monies to Ramsey. <br /> <br />Chairman Greenberg stated that the next item on the agenda was a presentation <br />of Zoning by City Attorney William Goodrich. <br /> <br />City Attorney William Goodrich - Zoning is one of the implementing tools that <br />the City has and I want to speak to you about land use planning. The Com- <br />prehensive Plan was adopted because it was mandated to the City by the Land <br />Use Planning Act. It took two years for Ramsey to approve it, because of a <br />basic difference in philosophy. Metro Council wants Ramsey to slow down <br />development in order to forestall the necessity of sewer. Ramsey felt that <br />2~ acre lot size was sufficient to provide for on-site sewer system, without <br />creating problems. Metro Council did not agree and as a result we are limited <br />to a density of one (1) in ten (10) acres. Metro Council stipulated that if <br />Ramsey developed any faster than 1 in 10, they would not assist Ramsey in <br />acquiring municipal sewer. Ramsey's goals are to concentrate industrial <br />growth in larger areas, provide area for expansion and apply performance <br />standards. In order to implement these goals and policies, the City has <br />adopted a zoning ordinance. Mr. Goodrich stated that the City is very <br />cognizant of limiting commercial business in residential areas. City <br />Ordinance also addresses subdivision of property as far as drainage is <br />concerned and access onto major thoroughfare, so that in the future everyone <br />can coexist. Ramsey is unique in that we have two rivers which form our <br />boundaries. Because of that fact, Ramsey has imposed on it the Scenic <br />and Wild Rivers Act and the Critical Rivers Area Oridnance. Ramsey also <br />has the Flood Plains Ordinance to comply with. All of these regulations <br />were not created to cause more work and expense to the City, but to insure <br />that in the future we can all coexist. <br /> <br />EDC/October 13, 1982 <br /> Page 3 of 4 <br /> <br /> <br />