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CASE # 2 <br /> <br /> CITY OF RAMSEY EDA: 2005 WORK PLAN <br />Sean M. Sullivan, Economic Development / TIF Specialist <br />Megan Wald, Associate Planner <br /> <br />Background: <br /> <br />As you may recall during the August EDA meeting, staff reviewed numerous projects initiated and completed <br />by the EDA during the past year. The case confirmed how active the City continues to be in redeveloping <br />blighted properties for quality development. The year in review case provided valuable information that will <br />assist in developing a 2005 EDA work plan. <br /> <br />The City's Economic Development Consultant Mike Mulrooney will be in attendance to participate in <br />discussion related to financing of projects and grant/loan opportunities the City can offer to businesses. <br /> <br />Observations: <br /> <br />The EDA directed staff to compile a list of redevelopment projects (within a few year time period) that details <br />the number of jobs created, building square footage, and dollar valuation. Attached is a spreadsheet detailing the <br />requested information. <br /> <br />Recommendation: The EDA may want to discuss what redevelopment projects are priorities to <br />worlr on for the remainder of 2004 and to continue in 2005. Such projects could include <br />Bakestar, Waltek Clean up, acquisition of the B & A Cylinder and Debee properties, and <br />development of the Martin, Cox and Spohn properties. <br /> <br />The EDA inquired as to what types of grants or loans are available to businesses or to Cities that then can be <br />offered to businesses. Staff was directed to contact other Cities to find out what types of loans or programs are <br />offered. Attached is information staff obtained from a few cities and from DEED's website. Also included with <br />this case is a copy of the City's Revolving Loan Fund Guidelines. To date the City has $86,057 available in <br />revolving loan fund monies. Mr. Mulrooney will also be available to further discuss financial opportunities and <br />the City's Revolving Loan Fund. <br /> <br />Recommendation: The EDA shouM discuss the City's current loan availability, policy for <br />issuing a loan, and discuss any other opportunities for new programs. <br /> <br />The EDA may also want to discuss completing another direct mailing of the Balancing Growth and "Don't <br />Break the Bank" pieces. <br /> <br />Staff will be discussing the fall Business Network Meeting and the annual Business/Project Tour as part of the <br />Staff Update Case. <br /> <br />EDA Action: <br /> <br />Based on discussion. <br /> <br />CC: <br />Jim Norman, City Administrator <br /> <br />EDA: 09/8/04 <br /> <br /> <br />