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to apply. A range of criteria is based on research done by staff in relation to other programs. <br />Available Funds (subject to City Council discussion on 7/14) <br />• $200,000 (approximately 10% of Ramsey's allocation) <br />• Note - Staff recommends two rounds of Applications that will allow the City to adapt to the Applicant <br />Pool; also, an additional allocation may be possible once the City's reimbursable expenses are better <br />known. <br />Business size: Options - 3-70 Employees (Full Time Equivalent - FTEs), Case by case if under 3 FTE's <br />• Staff Recommendation - 50 FTE or less <br />Business Type: EO-04-08, Same as previous Ramsey Resident Ad Waiver program, Other? <br />• Staff Recommendation- Any Ramsey Business that can show impacts from COVID-19 <br />Annual Business Revenue: Options - $3.5M or less (majority of peer community examples are capped at $1M) <br />• Staff Recommendation - $2M or less annual revenue <br />Time business has been in operation: Options - 6 months, 1 year prior to March 1, 2020 <br />• Staff Recommendation - 1 year <br />How long business has been in Ramsey (Longevity) <br />• Staff Recommendation - Business should have been operating in Ramsey on or before March 1, 2019. if <br />scoring system is used additional points should be awarded for businesses operating longer in Ramsey. <br />Whether business is in compliance City Zoning Code and current with City utilities, property taxes or other <br />city charges <br />• Staff Recommendation - Compliant with City Zoning Code, current with City Utilities and City Charges. <br />Property Taxes paid through 2019 <br />Business Entity Type: Options - For profit only, Non -Profits. Must be registered with Minnesota Secretary of State <br />and in good standing. <br />• Staff Recommendation: For -Profit businesses only and being registered in good standing (Non -Profit groups <br />can be discussed - but recommending to wait until a second round of applications) <br />Grant/Loan Amount: Options $4-10K (Varies), Amount based on number of employees, Forgivable Loans, <br />Grants, Loans <br />• Staff Recommendation: $10,000 Grant <br />Business Location: Ramsey businesses located in Ramsey only <br />• Staff Recommendation: Ramsey businesses only (Staff has received requests for businesses located in other <br />communities but serving Ramsey as well as residents of Ramsey owning a business in other communities) <br />Application Period: Varies <br />• Staff Recommendation: 2 Week (14 days) Application Period (2 week period in August for businesses to <br />apply) <br />How grants awards are determined: first come -first serve, lottery, scoring system <br />• Staff Recommendation: Random draw with Application Deadline (still some degree of minimum scoring <br />