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installing' sidewalks and additional landscaping in the public right of way. Such guidelines are being considered by adjoining property owners. 2.5 As art of the Metropolitan council}s Livable Communities Grant for the implementation he cornerstone Program $150,000 was budgeted for landscape and sidewalk oft . improvements in the public right of way to encourage pedestrian traffic and provide an �rnp � g appeal in g buffer between the roadway and the corner properties. $50,000 of the$150,000 is designated for each of the three corners identified under the program. These funds are intended to be provided as a rant to cornier property owners for implementing ante p g Cornerstone public improvements. 3.0 PROPOSED FINANCE PLAN 3.1 Mr.Johnson has requested financial assistance from the City to enable completion of the improvements as required uine d b the city Council as part of the variance for building expansion. 3.2 The assistance w ould be structured as follows:(summarized on attached sources and uses 3.2.1 City loan from the Small business Revolving Loan Program as approved by Council on January 25, 1999 in the amount of$25,000. Staff is working with Mr.Johnson and his bank to complete the agreements as part of the loan which wilts be reviewed and approved by the city Manager. The loam would be at 2 percent interest matched by a bank loan with an adjustable rate of prime plus 1 percent for five ears. The Cit3es portion of the loans would pay for landscaping improvements, drainage,trash enclosure and part of the parking lot improvements. 3.2.2 Cornerstone Grant in the amount of$12,400 to pay for boulevard landscaping and sidewalks aloe Leidngton and 1 oselawn. The grant would come from the Livable Communities Grant funds of which$50,000 is available for public improvements in the right of way at each Cornerstone intersection. 4.0 FISCAL IMPACT ON THE CITY vial assistance plan outlined in section .2 the city would provide$25,000 of �.1 Per the finan p the $100,000 set aside for the RoseviUe Small Business Loan Program for 1999. The �s program is b y the Tax Increment Project Fund and is an eligible use of these funds increment plan modification adopted in December 1996. The loan would be per the tam p the City over 5 ears at percent interest and would be put back into the paid back to y P Program to finance additional small business loans. 4.2 The grant req uest of$12,500 would have minimal fiscal impact to the City since the funds Bred b the Metropolitan Council"s Livable Communities Grant awarded in 1996 are covered P to the city for the implementation of cornerstone. PF#3029-RCA(02/8/99) -Rage 2 of