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<br />Anti-Displacement Relocation Assistance and Displacement Minimization Plan <br />Although the displacement of residents and/or businesses is not anticipated with the proposed <br />Sportech, Inc. project, the City Council is requested to adopt a Residential Anti-Displacement, <br />Relocation Assistance and Displacement Minimization Plan in order to meet the federal grant <br />objectives. The attached drafted plan for Residential Anti-Displacement, Relocation Assistance and <br />Displacement Minimization is provided for City Council review. <br /> <br />Local Government Resolution and Compliance Certification <br />The Local Government Resolution formally authorizes the Mayor and Director of Economic <br />Development to submit the application to MN DEED and to execute agreements as necessary to <br />implement the project on behalf of the city. The resolution also certifies that the City of Elk River will <br />comply with all applicable laws and regulations as described in the Compliance Certification, which is <br />attached to the resolution. <br /> <br />It is anticipated that the DEED grant application be submitted on approximately April 28'h. Formal <br />notification from DEED is expected within two weeks. <br /> <br />Financial Impact <br />The DEED grant application leverages the city's public financing investment in the project by securing <br />$500,000 of federal economic development program funds. As the loan is paid back the city is able to <br />retain the full $500,000 plus interest to be used as a revolving loan fund for economic development <br />purposes. <br /> <br />Attachments <br /> <br />· Resolution Adopting a Residential Anti-Displacement, Relocation Assistance and Displacement <br />Minimization Plan <br /> <br />· Local Government Resolution Economic Development Program <br /> <br />Action <br /> <br />Motion by _ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />S:\Industrial Siting\Sportech Expansion II\Memos\4.21.08 CC Action Requested MIr.doc <br />