Laserfiche WebLink
2. Tax Abatement <br />3. EDA Revolving Loan Fund (RLF) <br />4. Anoka County HRA Account <br />5. State Redevelopment Grant and Loan Program <br />6. Land Write Down (City Owned Parcels) <br />The City will consider all financial assistance programs listed above only for projects <br />that directly address existing blighted properties; see Appendix A: Primary Area of <br />Concern. <br />Utilization of financial assistance requires completion and approval of a Business <br />Subsidy Application by the Ramsey EDA and City Council. Consideration will be <br />based on the merits of an individual project and community benefit. <br />II EDA REVOLVING LOAN FUND (RLF) <br />Upon adoption of this Statement of Goals, the Ramsey EDA will review alternatives <br />to utilize the City's existing Revolving Loan Fund (RLF) to stimulate cleanup and <br />revitalization of the 167/47 Node. This may include, but is not limited to the <br />following: <br />Storefront Matching grants to help encourage/spark the `clean-up' or <br />improved `curb -appeal' of properties. For example, a matching grant with a <br />$10,000 maximum City contribution. <br />Revitalization Loan Program: low interest loans that are tied to revitalizing <br />properties to a marketable condition. <br />NOTE: the City has about $275,000 available for these types of programs. <br />This effort would require the creation and adoption of new program <br />polices. <br />III. PEDESTRIAN` UNDERPASS <br />It has been requested, for the City to consider funding a pedestrian underpass to <br />connect the east and west side of MN trunk Highway 47. A pedestrian underpass <br />would increase public safety, enhance connectivity to and from Elmcrest Park and <br />increase foot traffic to retail businesses. <br />At this point, the City will not pre -commit a specific funding source, or specific <br />dollar amount, to a pedestrian underpass. The City would react to this specific <br />request at the time of future development; and, would base their response on the <br />merits of a project —and the value it will bring to the community. Examples of <br />potential funding solutions below: <br />i. Cost Share Agreement with developer (most desired) <br />ii. Redevelopment TIF District proceeds <br />iii. Grant Programs (various) <br />iv. Park/Trail Dedication Fees (from 167/47 area, new development) <br />v. Land Write Down Contribution (city owned parcels) <br />vi. Anoka County HRA Account <br />NOTE: When future development occurs, the City will consider methods beyond a <br />pedestrian underpass for increasing safety at the 167/47 intersection. <br />City of Ramsey 2040 Comprehensive Plan Update <br />Land Use Plan <br />Page 12of18 <br />