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<br />. <br /> <br />. <br /> <br />. <br /> <br />CASE 12: <br /> <br />DIsaJSSION RmARDI~ FUNDS FOR EOONOMIC DEVELOPMENT ACl'IVITIES <br />By: Camntmity Developnent Director Anne Norris <br /> <br />Backgrotmd: <br /> <br />As you recall, during the 1987 budget process, the City Council allocated <br />approximately $50,000 to be used for econanic developnent activities. The <br />Council directed that these funds should be used for the following <br />activities: <br /> <br />1. Inventory of canrnercial and industrial property. <br />2. Developers' Packet. <br />3. Pranotional Packet. <br />4. Advertising and Pranotional Activities. <br />5. Study of Highway 10. <br />6. Revolving Loan Fund. <br /> <br />In addition, the Cotmcil allocated approximately $ 18,000 to be used for <br />contracted econanic developnent services. <br /> <br />Cl:>servations: <br /> <br />As you know, the Council has approved an agreement with the Ramsey Economic <br />Development Company to administer a revolving loan fund for economic <br />developnent activities using Community Development Block Grant (CDBG) <br />funds. In addition, the Council approved using CDBG funds to pay for the <br />Highway 10 Corridor study. <br /> <br />Recamnendation: <br /> <br />The Commission should discuss how to use these funds in order to achieve <br />the econanic developnent activities listed above. <br /> <br />Review Checklist: <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Developnent Director ~ <br /> <br />Chief of Police <br />Finance Officer <br />Public Works SUperintendent <br />other <br /> <br />z. <br />