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Item No. 14 Staff Report No. III Meeting Date: July 7, 1997 of Business: Work Session K.: Work Session;PH:Public Hearing; CA:Consent Agenda;CB:Council Business City of Mounds View Staff Report To: Mayor and City Council From: Pamela Sheldon, Community Development Director Item Title/Subject: Authorization to File Application with the Metropolitan Council for funds for updating the Comprehensive Plan Date of Report: July 6, 1997 Summary: Staff is proposing to file an application for funds available through the Metropolitan Council to assist local governments in reviewing and amending local comprehensive plans. The deadline for filing an application is July 18, 1997. Background: Funds are available for loans and grants to assist local governments in implementing the Metropolitan Land Planing Act. The funding is available through the Metropolitan Council and is intended to provide communities with incentives to review and amend local comprehensive plans, • fiscal devices and official controls, to reinforce regional goals and to create more livable communities. In 1996, the Legislature authorized the Metropolitan Council to transfer up to $1 million from solid waste bond proceeds to the planning assistance grant and loan program to assist local communities in meeting comprehensive planning requirements. The planning assistance fund includes this $1 million available for grants and approximately $770,000 available for interest free loans. Grants may not exceed up to 75% of the total costs and expenses of the work plan, service or activity for which a grant is awarded. The maximum grant amount allowed for each community is approximately $20,000. Mounds View would need to show an investment of $27,000 in order to receive the maximum grant amount. We have prepared a project budget which shows a City contribution of$73,200 of which$24,200 would be from the General Fund and $49,000 would be from tax increment funds. A grant of$20,000 from the Met Council represents 21.5% of the total project budget of$93,200. The Community Development Department budget for 1997 includes $10,239 for hiring a consultant to assist with updating the Comprehensive Plan. Staff is proposing an additional $14,000 from the general fund be allocated in 1998, for a total of$24,200 from the general fund. Of the money allocated from tax increment funds, $34,500 would be from the money allocated to the Highway 10 corridor and $15,000 from money allocated to housing programs. The proposal for preparing a housing strategy using tax increment funds will be discussed at the August worksession. The total budget would be as follows: