Agenda - Economic Development Authority - 01/14/2021

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:'irefox about:blank 12 C. PUBLIC PURPOSE OBJECTIVES It is the policy of the City and EDA of Ramsey that the business assistance should result in a public benefit as identified in items 1-10 below. Please indicate how the proposed project will accomplish this by checking the appropriate boxes. Attach additional narrative as Part 7. ❑ 1. To encourage redevelopment. ❑ 2. To retain local jobs and/or increase the number and diversity of jobs that offer stable employment and/or attractive wages and benefits. • 3. To enhance and/or diversify the City's economic base. ❑ 4. To encourage additional unsubsidized private (re)development. ❑ 5. To remove blight and/or encourage (re)development of commercial and industrial areas. ❑ 6. To create housing opportunities. • 7. To provide a diversity of housing. ❑ 8. To provide a variety of family housing ownership alternatives and housing choices. ❑ 9. To promote neighborhood stabilization and revitalization by the removal of blight andthe upgrading of existing housing stock in residential areas. ❑ 10. To accomplish other public policies which may be adopted such as the promotion of quality urban or architectural design, energy conservation, and decreasing capital and/or operating costs of local government. ■ Utilization of architectural and landscaping techniques that will enable the components of the project to blend with the natural environment. ▪ Mitigation of project impact on the natural environment. D. SOURCES & USES OF FUNDS Attach additional information as Part 8 SOURCES Bank Loan . :j A Other Loans ij4si s c. Owner Equity Fed Grant/Loan $ State Grant/Loan $ Industrial Development Bonds $ Tax Increment Financing $ Tax Abatement $ Revolving Loan Fund Other $ TOTAL AMOUNT $ f�. /70 0v $ 75 ooc 00 3 of 5 1/6/21, 2:12 PM