Laserfiche WebLink
USE OF COMHUNITY DEVELOPMENT BLOCK GRANT FUNDS <br />By: Community Development Director Hark Banwart <br /> <br />CASE <br /> <br />Background: <br /> <br />As you may recall, Ramsey's Community Development Block Grant (CDBG) funds <br />have been designated for economic development activities. Approximately <br />$22,500 was used for the revolving loan fund to assist businesses, $25,000 <br />was used for the Hwy. 410 Corridor Study and $4,500 for production of <br />promotional information. Ramsey's CDBG fund balance is approximately <br />$129,555.42. This represents accumulation of monies from 1985, 1986, 1987, <br />and 1988. Anoka County has informed us that effective September 13, 1988, <br />Ramsey has been given 6 month notice of the Board's intent to reallocate <br />CDBG funds. It is necessary for Ramsey to redesignate the use of CDBG <br />funds and proceed with a project, immediately. City Staff suggests using <br />CDBG funds to expand River's Bend Park to include a passive use area <br />readily accessible to senior citizens and handicapped persons. This will <br />be a positive asset to the City, provide a passive use recreational area, <br />be compatible with CDBG funding requirements, and will meet time frame <br />requirements. <br /> <br />If funds are needed for revolving loans for economic development, the <br />Council may want to consider 1989 allocation of CDBG funds. <br /> <br />Recommendation: <br /> <br />Council Action: <br /> <br />Motion to: <br />Adopt Resolution #88-_ redesignating use of 1985, 86, 87 and 88 CDBG <br />funds. <br /> <br />Review Checklist: <br /> <br />Administrator _~_ <br />Attorney <br />Engineer <br />Community Development Director ,%, <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Superintendent <br />Other <br /> <br /> <br />