Laserfiche WebLink
roadways, Phase I roadways and utility improvements and Phase II <br />roadways and utility improvements within the Redevelopment <br />Area. A description of these improvements and the location of <br />where these improvements will be installed is on file with the City. <br /> <br />Financing Plan <br /> <br />1. Project Budget <br /> <br />Attached hereto as:Exhibit B is a budget which details estimated <br />development costs .associated' with constructing and equipping the <br />municipal center as currently contemplated and installing public <br />improvements. Tile items of cost and the costs thereof shown in <br />the budget are estimated to be necessary based Upon information <br />now available. It is anticipated that the items of cost and the costs <br />thereof shown in each category'in the budget may decrease, or <br />increase, but that the. totallProject cost will not exceed the amount <br />shown above. <br /> <br />2. Source of Funds and Security <br /> <br />The City is entering into the lease with option to purchase ~ <br />agreement with the. EDA pursuant to Minnesota Statutes, Section <br />465.71. The lease with option to purchase agreement is payable <br />from general sources including taxes, and its payment is not <br />limited to a specific fund or specific source of revenues. Sources <br />of funds for public improvements include rates and charges, <br />assessments and other available:funds of the EDA Or City. <br /> <br />3. Bond Issue Details <br /> <br />The EDA will issue approximately $19,200,000 in public project <br />revenue bonds to finance the construction of the municipal center. <br />It is anticipated that the City. will issue general obligation <br />improvement bonds to finance the public improvements to be <br />constructed within the Redevelopment Area. <br /> <br />Development Standards <br /> <br />The EDA will consider among other things, the following factors <br />when evaluating development proposals for projects within the <br />Redevelopment Area seeking public assistance and support: <br /> <br />1. Degree to which redevelopment objectives are provided for or enhanced. <br /> <br />2. Consistency with this plan and the City of Ramsey's Comprehensive Plan. <br /> <br />1723662v4 <br /> <br />4 <br /> <br />29 <br /> <br /> <br />