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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 acquiring the Anoka Ramsey <br />Sports Center as currently contemplated. The items of cost and the <br />costs thereof shown in the budget are estimated to be necessary <br />based upon information now available. It is anticipated that the <br />items of cost and the costs thereof shown in each category in the <br />budget may decrease or increase, but that the total project cost will <br />not exceed the amount 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 HRA 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 any other public improvements include rates and <br />charges, assessments and other available funds of the HRA or City. <br /> <br />3. Bond Issue Details <br /> <br />The HRA will issue approximately $ in public <br />project revenue bonds to finance the acquisition of the Anoka <br />Ramsey Sports Center. No bonding has currently been structured <br />to finance costs of any other public improvements. <br /> <br />Development Standards <br /> <br />The HRA 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 />Environmental Controls <br /> <br />It is presently anticipated that the proposed development in the <br />Redevelopment Area will not present major environmental <br />problems. All municipal actions and public improvements will be <br />carried out in a manner that will comply with applicable <br />environmental standards. The environmental controls to be <br /> <br />lg21261vl <br /> <br />4 <br /> <br />173 <br /> <br /> <br />