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REQUEST FOR CITY COUNCIL ACTION <br />D A T E: 5/22/2000 <br />ITEM NO: �— 3 <br />Agenda Section: <br />Consent <br />Resolution In Support Of Ramsey County Making an Application <br />For The United States Department Of Housing & Urban Development <br />(HUD) Brownfield ':conomic Development Initiative (BEDI) Grant <br />for the Twin Lakes Redevelopment Area <br />1.0 REQUESTED ACTION <br />1.1 Adopt a resolution in support of Ramsey County's application for HUD BED1 funds on behalf of the <br />City of Roseville for redevelopment in the Twin Lakes Area. <br />2.0 BACKGROUND <br />2.1 The Twin Lakes Redevelopment Plan was completed in the mid- 1980s and incorporated into the <br />City's Comprehensive Plan. The purpose of this plan is to guide future development in the area <br />generally bounded by County Road C West on the south, Cleveland Avenue on the west, County <br />Road C-2 on the north, and Fairview Avenue on the east. <br />2.2 Over the past several month staff has been working with a funding committee in developing a <br />strategy to help finance the costly redevelopment of the Twin Lakes area. The funding committee is <br />comprised of US Department of Housing and Urban Development (HCTD), Ramsey County <br />Community & Economic Development, Metropolitan Council, Minnesota Pollution Control District, <br />MN Department of Trade & Economic Development and the City of Roseville Community <br />Development staff and consultants. <br />2.3 As part of that process, several sources of funding have been identified that would be eligible to <br />assist with the public construction of the Twin Lakes Parkway, environmental cleanup and <br />redevelopment of the brownfield sites. <br />3.0 SUMMARY OF HUD ASSISTANCE PROGRAMS <br />3.J There are funds available from HUD such as the 1081oan program and the BED1 grant. Since <br />Roseville is not an entitlement community for CDBG funds, we are unable to apply for these funds <br />directly but must go through Ramsey County's HRA. <br />3.2 There is a limited capacity for the HUD 1081oan funds based upon the amount of CDBG funds <br />provided to Ramsey County. In dis�assion with Ramsey County staff it was determined that $2 <br />million in loan funds could be applied fcr based upon an eligible project in Twin Lakes that would <br />meet the HUD federal objectives of sl �ns and blight and benefiting a low -moderate income <br />population. By participating in a HUD 1081oan, public entities become eligible to access grant <br />dollars (BEDI) to help make the projects feasible. There are appro�mately $25 million appropriated <br />for these BED1 funds by HUD. <br />RCA HUD BED 1 Grant (5/22/00) - Page 1 of 2 <br />