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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 />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 $ 1,150,000 <br />Other Loans $ <br />Owner Equity $ 160,000 <br />Fed Grant/Loan $ <br />State Grant/Loan $ <br />Industrial Development Bonds $ <br />Tax Increment Financing $ <br />Tax Abatement $ <br />Revolving Loan Fund $ 30,528 (SAC and WAC Deferral Loan) <br />Other $ $299,000 Tenant Improvement Allowance <br />TOTAL $ 1,639,528 <br />