Laserfiche WebLink
12 <br /> C. PUBLIC PURPOSE OBJECTIVES <br /> It is the policy of the City and EDA of Ramsey that the business assistance should result in a public <br /> benefit as identified in items 1-10 below. Please indicate how the proposed project will accomplish <br /> this by checking the appropriate boxes. Attach additional narrative as Part 7. <br /> ❑ 1. To encourage redevelopment. <br /> ® 2. To retain local jobs and/or increase the number and diversity of jobs that offer stable <br /> employment and/or attractive wages and benefits. <br /> ER 3. To enhance and/or diversify the City's economic base. <br /> ® 4. To encourage additional unsubsidized private (re)development. <br /> 5. To remove blight and/or encourage (re)development of commercial and industrial <br /> areas. <br /> ❑ 6. To create housing opportunities. <br /> ❑ 7. To provide a diversity of housing. <br /> ❑ 8. To provide a variety of family housing ownership alternatives and housing choices. <br /> ❑ 9. To promote neighborhood stabilization and revitalization by the removal of blight <br /> and the upgrading of existing housing stock in residential areas. <br /> ❑ 10. To accomplish other public policies which may be adopted such as the promotion of <br /> quality urban or architectural design, energy conservation, and decreasing capital <br /> and/or operating costs of local government. <br /> ■ Utilization of architectural and landscaping techniques that will enable the <br /> components of the project to blend with the natural environment. <br /> ■ Mitigation of project impact on the natural environment. <br /> D. SOURCES & USES OF FUNDS <br /> Attach additional information as Part 8 <br /> SOURCES AMOUNT <br /> Bank Loan $ 6,500,000 <br /> Other Loans $ 3,510,000 <br /> Owner Equity $ 5,084,000 <br /> Fed Grant/Loan $ <br /> State Grant/Loan $ <br /> Industrial Development Bonds $ <br /> Tax Increment Financing $ 617,454 ($311,454 L+ $306,000 SD) <br /> Tax Abatement $ <br /> Revolving Loan Fund $ <br /> Other $ <br /> TOTAL $ 15,711,454 <br />