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10-09-2024 Workshop Packet
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10-09-2024 Workshop Packet
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They have also included a table below that outlines the budget for TIF uses. Other than the <br />stormwater management requirements, these project expenses are unique to this project and <br />wouldn’t typically be included in a the project budget. <br />Additional Funding Opportunities: <br />The Livable Communities Grants offered by the Minnesota Metropolitan Council include the <br />Livable Communities Demonstration Account (LCDA) Grant Program. LCDA grants are aimed <br />at promoting development that integrates affordable housing with transportation, jobs, and <br />services, contributing to the creation of livable, sustainable communities. <br />The City of Little Canada submitted an application in the amount of $1 million on August 12, on <br />behalf of Reuter-Walton for the RIDE project. City staff was notified on Friday, October 3 that <br />the grant application was unfortunately not funded. <br />City staff is seeking one additional funding alternative to help reduce the amount of the requested <br />Tax Increment Finance (TIF) assistance from the City of Little Canada. The Ramsey County <br />Critical Corridors program has a grant application due on October 15th that we are currently <br />pursuing. Any amount of funding that is received would help to reduce the amount of the TIF <br />requested for public infrastructure improvements. <br />RECOMMENDED ACTION <br />Information regarding the final zoning and entitlement issues will be provided by Community <br />Development Director Ben Harrington at the workshop. Additional details are included in the <br />October 10 Planning Commission agenda packet. Paul Keenan from Reuter-Walton and <br />Financial Consultant Mikaela Huot from Baker Tilly, LLC will also be in attendance at the <br />meeting to review the proposed TIF application and other financial information for the Rice and <br />Demont (RIDE) Multi-Family apartment project.
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