Laserfiche WebLink
______________________________________________________________________________ <br />City of Arden Hills <br />City Council Meeting for October 23, 2017 <br />P:\Planning\Economic Development\Business Subsidy & Public Financing\Revolving Loan Fund\MIF State Funded <br />RLF Request for One-Time Exception\City Council Meeting - 10-23-17 <br /> <br />Page 2 of 2 <br />exception, the amount of money that would be made available to the City for general purpose aid <br />would be approximately $136,212. The remaining $34,054 balance in the RLF would be <br />transferred to the State general fund. The exact dollar amount would be determined at the time a <br />request is approved based on the RLF balance. <br /> <br />RLF Balance as of <br />Aug. 31, 2017 (estimate) <br />Portion for City <br />General Purpose Aid <br />(80 Percent) <br />Portion Returned to <br />State General Fund <br />(20 Percent) <br />$170,266 $136,212 $34,054 <br /> <br /> <br />Attachments <br /> <br />A. Exception Criteria – Laws of MN 2017, Chapter 94, Article 6, Section 24 <br />B. Minnesota Investment Fund State Funded RLF Request for One-Time Exception Form <br />C. Resolution 2017-042