Agenda - Council - 02/08/2021 - Laserfiche WebLink

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Application Process The applicant must submit a completed Business Assistance Application and all required attachments to the City's Economic Development Department. The Ramsey Economic Development Authority will make a recommendation on the full -service restaurant subsidy to the Ramsey City Council. Applicants will be notified of EDA and City Council meetings and may be asked to attend to present their request for assistance. Any financial assistance to full -service restaurants as part of this program is subject to City Council approval. Moreover, such financial assistance is limited by the availability of City Water Funds. The City will underwrite the loan request to ensure that the business concept is financially viable. Implementation Procedures The program does require the applicant pay upfront permit fees, and a minimum of 30% and of all applicable Water Access Charges (WAC) and Sewer Access Charge (SAC fees) that the City of Ramsey is required to pay on behalf of the project to the City and Metropolitan Council. To be in good standing with the City, applicant and/or landlords must be current on all municipal taxes, special assessments, City utility bills, or EDA loans. Principal forgiveness will cease if the applicant and/or landlords fail to be current on these obligations. Principal forgiveness will cease if the applicant discontinues the business, moves the business, or fails to comply with any and all building, fire, health, or zoning codes or regulations. Sunset Date (7/31/2021) The Full Service Restaurant Subsidy Policy and Program Guidelines will expire three years (and at the end of the month) from the date this policy is approved. Financial assistance that has been approved for projects that have not yet begun by the sunset date would still be valid, unless otherwise determined by the City Council.There is no Sunset Date on this program and it will remain in place until such date that the City Council determines it is no longer necessary