Laserfiche WebLink
PUBLIC FINANCING APPLICATION REVIEW WORKSHEET - <br /> HOUSING PROJECTS <br /> TO BE COMPLETED BY CITY STAFF OR CONSULTANTS <br /> 1. The project meets the criteria set forth in Section IV of the City's Public <br /> Financing Policy. <br /> a) Meets at least one objective in Section II all provisions in <br /> Section III. <br /> b) Demonstrates need for TIF with the but for analysis. <br /> c) The project complies with all applicable laws. <br /> d) Consistent with all city plans and ordinances. <br /> e) Serves at least two public purposes as defined in Section IV(E). <br /> f) Developer has paid the application fee. <br /> 2. Ratio of Private to All Public Investment in Project: Points: <br /> Greater than 7:1 10 <br /> $ Private investment 6:1 8 <br /> $ Public Investment 5:1 6 <br /> Ratio Private: Public Financing 4:1 4 <br /> 3:1 2 <br /> Less than 3:1 1 <br /> 3. Project provides housing that is restricted Points: <br /> to persons 55 years and older: 10 <br /> 4. Market Value/Tax Base Generation: Points: <br /> Project will result in an estimated <br /> market value per unit $135,000/Unit 5 <br /> (land and building) of $125,000/Unit 4 <br /> $115,000/Unit 3 <br /> $105,000/Unit 2 <br /> $ 95,000/Unit 1 <br /> 5. Project proposes rehabilitation of existing <br /> housing,housing stock, and maximizes <br /> utilization of existing infrastructure: Points: <br /> 10 <br /> 6. Project proposes a location near existing <br /> jobs,transportation,recreation,retail services, <br /> social services, and schools: Points: <br /> 3 <br /> City of Mounds View Public Financing Policy&Application <br /> Adopted February,2016(Expected) <br /> Page 20 of 21 <br />