07/23/2001 Council Packet - Laserfiche WebLink

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cost of making land ready for redevelopment exceeds the property's fair market value. 4. Design and/or Other Amenities. Whether, as a result of the business subsidy, the project will include design and/or amenity features not otherwise required by law. For example, the project may, at the request of the City, include building design features, sidewalks, landscaping, open space, or public trails, which serve a public purpose but are not required by law. 5. Utilization of Existing Infrastructure Investment. Whether and to what extent (a) the project will utilize existing public infrastructure capacity and (b) the project will require additional publicly funded infrastructure investments. 6. Direct Monetary Return on Public Investment. Arrangements made or to be made for the City to receive a direct monetary return on its investment in the project. For example, the business subsidy may be in the form of an interest - bearing loan or may involve a project sharing arrangement. 7. Leveraged Funds. For every dollar of business subsidy to be provided for the project, the minimum amount of private funds which will be applied towards the capital cost of the project. 8. Spin Off Development. The dollar amount of non - subsidized development the project is expected to generate in the surrounding area and the need for and likelihood of such spin off development. 9. Growth Potential. Based on recipient's market studies and plans for expansion, whether and to what extent the project is expected within five years of its completion, be expanded to produce a net increase of full time equivalent jobs and of payroll, over and above the minimum net increase in jobs and payroll described in the wage policy above. 10. Community Services. Whether the project will provide services in the community and the need for such services. For example, the project may provide health services, retail convenience services such as a nearby grocery store, or social services needed in the community. 11. Competition. Whether the project would create significant competitive advantage over other projects in the area. 12. Other Factors. Depending on the nature of the project, such other factors as the City may deem relevant in evaluating the project and the business subsidy proposed for it. •