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City and EDA of Ramsey Business Subsidy Policy s <br /> 3. Land Use <br /> a. Compliance with Comprehensive or Other Plans. Whether, apart <br /> from any needed services to the community described in section <br /> 5 below, the project is compatible with the comprehensive plan <br /> and permitted uses for the property. <br /> b. Marginal Property. Whether the project is located on property <br /> which needs but is not likely to be developed or redeveloped <br /> because of blight or other adverse conditions of the property. For <br /> example property may be so blighted that the cost of making land <br /> ready for redevelopment exceeds the property's fair market value. <br /> c. Design and/or Other Amenities. Whether, as a result of the business <br /> subsidy, the project will include design and/or amenity features not <br /> otherwise required by law. For example, the project may, at the <br /> request of the City, include landscaping, open space, public trails, <br /> employee work out facilities or day care facilities which serve a <br /> public purpose but are not required by law. <br /> 4. Impact on Existing and Future Public Investment <br /> a. Utilization of ExistingInfrastructure Investment. Whether and to <br /> what extent (a) the project will utilize existing public infrastructure <br /> capacity and (b) the project will require additional publicly funded <br /> infrastructure investments. <br /> b. Direct Monetary Return on Public Investment. Arrangements made <br /> or to be made for the City to receive a direct monetary return on its <br /> investment in the project. For example, the business subsidy may <br /> be in the form of an interest bearing loan or may involve a project <br /> sharing arrangement. <br /> 5. Economic Development <br /> a. Leveraged Funds. For every dollar of business subsidy to be <br /> provided for the project, the minimum amount of private funds <br /> which will be applied towards the capital cost of the project. <br /> b. Spin Off Development. The dollar amount of non-subsidized <br /> development the project is expected to generate in the surrounding <br /> area and the need for and likelihood of such spin off development. <br /> The Economic Development Authority and City of Ramsey,Minnesota.Policies. <br />