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City of Lino Lakes, Minnesota reputation, and credit history, among other factors, including the size and scope of the proposed project. For the purposes of underwriting the proposal, the developer shall provide any requested market, financial, environmental, or other data requested by the City or its consultants. V. PROJECT QUALIFICATIONS All Tax Abatement projects considered by the City of Lino Lakes must meet each of the following requirements: a. The project shall meet at least one of the objectives set forth in section IV of this document. b. The use of Tax Abatement will be limited to: • Projects occurring in Town Center; or • Commercial or Industrial development, expansion, redevelopment, or rehabilitation; or C. The developer shall demonstrate that the project is not financially feasible but -for the use of Tax Abatement. d. The project shall comply with all provisions set forth in the state's Tax Abatement Law, statutes 469.1812 to 469.1815, as amended. e. The project must be consistent with the City's Comprehensive Plan, Land Use Plan, and Zoning Ordinances. f. The project shall serve at least two of the following public purposes: • Job creation. • Increase tax base. • Enhancement or diversification of the city's economic base. • Development or redevelopment that will spur additional private investment in the area. • Fulfillment of defined city objectives, such as those identified in the Comprehensive Plan. • Removal of blight or the rehabilitation of a high profile or priority site. VI. SUBSIDY AGREEMENT & REPORTING REQUIREMENTS All developers/businesses receiving Tax Abatement assistance from the City of Lino Lakes shall be subject to the provisions and requirements set forth by state statute 116J.993 and summarized below. �i SPRINGSTED Page 3