My WebLink
|
Help
|
About
|
Sign Out
Home
Search
06-08-1998 EDA Packet
LinoLakes
>
City Council
>
Economic Development Authority (EDA)
>
Packets
>
1998
>
06-08-1998 EDA Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/25/2019 10:54:29 AM
Creation date
3/19/2019 3:43:41 PM
Metadata
Fields
Template:
EDA
EDA Document Type
EDA Packet
Meeting Date
06/08/1998
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
12
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
MEMORANDUM <br />TO: File <br />FROM: Brian Wessel <br />DATE: October 13, 1995 <br />SUBJECT: TIF PROPOSAL POLICY - ECONOMIC DEVELOPMENT <br />The following is standard policy for use of tax increment financing in Lino Lakes: <br />1. The prospect must qualify according to the Economic Development selection <br />criteria. <br />2. A TIF commitment will be made to a project for the following qualified site <br />improvement expenses: <br />a. Special assessments <br />b. Land write down <br />c. Administrative fees <br />3. A land write down commitment will be based on a minimum of 10,000 square feet <br />of building per one acre of land. <br />4. Each project will be self sufficient within the allowable TIF capacity. <br />5. Payback will be within five years of the year the company makes its first tax <br />payment. <br />6. TIF commitments are not to exceed 20% of the total project cost. <br />7. Fifty percent of a TIF commitment to a company will be upfront at closing and 50 <br />percent will be on a pay-as-you-go basis. <br />
The URL can be used to link to this page
Your browser does not support the video tag.