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City of Lino Lakes, Minnesota <br />TIF policy: <br />1. Prospects must qualify according to the City business subsidy selection criteria. <br />2. TIF will be used to pay qualifying reimbursable costs, which include special assessments, land write <br />down, administrative fees, landscaping and site preparation. <br />3. Land write down will be based on a minimum of 10,000 square feet (or more) of facility per acre of <br />land. <br />4. Each project will be self-sufficient within the allowable TIF capacity of the district. <br />5. TIF commitments will not exceed 16% of the estimated market value. <br />6. Administrative fees (upfront escrow) will be reimbursed using TIF funds at the completion of the <br />project. <br />7. Assessments will be paid upfront in the Apollo Business Park to allow for a more expedient return of <br />the city's investment in the park's improvements. <br />8. In other TIF districts, the subsidy for land and assessments will be on a pay-as-you-go basis. <br />9. If the subsidy includes upfront payments of assessments, the city will be reimbursed first from <br />available increment. The grantee will receive its pay-as-you-go after the city is paid back. <br />10. The source of the 10% local contribution will be identified before the project is approved. (This local <br />contribution requirement was eliminated by the legislature in 2001.) <br />