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CITY COUNCIL WORK SESSION <br /> <br /> SEY <br /> <br />Topic Report: ACCAP Town Center Mixed Use Development <br /> <br />By: Sylvia Frolik, Asst. Community Development Director <br /> <br />Background: <br /> <br />At the City Council Work Session on May 30, 2006, the City Council requested a breakdown <br />of how the $400,000 in Ramsey dedicated Anoka County HRA levy funds would be allocated <br />towards reductions in various City impact fees. Since that Work Session, ACCAP has revised <br />their budget plan as follows. Note that ACCAP is only requesting a reduction in one of the <br />development fees - sewer and water trunk. <br /> <br /> 1. $10,000 reduction in the estimated $107,170 sewer and water trunk fees due on the <br />residential portion of the building. <br /> <br /> 2. $120,000 to establish a rent subsidy program for 4 traits over a 10 year period. <br /> <br />3. $270,000 loan (for other eligible expenses) at 1.6% interest with the principal of <br />$400,000 due in 30 years. <br /> <br /> Attachments: <br /> <br />Action Statement: <br /> <br />For information purposes. <br /> <br />CCWS: 06.13.06 <br /> <br /> <br />