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<br />Rum River Hills Redevelopment Plan <br />The Rum River Hills has proposed a redevelopment plan to the City. <br />Figure 6: Rum River Hills Development Plan <br /> <br />Economic Development Tools <br /> <br />The City of Ramsey has a number of financial tools available for economic development projects. Below is an <br />overview of common economic development tools. <br /> <br />GAP FINANCING: <br /> <br />1.Ramsey Revolving Loan Fund (RLF) <br /> <br />2.Minnesota Investment Fund (MIF) <br /> <br />A financial gap occurs when private financing and/or owner equity cannot fund an entire project. <br />Commonly, these programs are used to purchase equipment; however, other eligible uses exist. Interest <br />rates and terms are negotiable. <br /> <br />DEED JOB CREATION FUND: <br /> <br />3.Capital Investment Rebate <br /> <br />4.Job Creation Rebate <br /> <br />DEED assistance to projects that have capital investment and provide well-paying jobs. Program would <br />allow for a company to receive a 5% rebate on capital expenditures (construction costs, materials etc.) up <br />City of Ramsey 2040 Comprehensive Plan Update <br />Land Use Plan <br />Page 15 of 18 <br /> <br />