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D. City staff and/or consultants review the application and complete the Commercial- <br /> Industrial and/or Housing Worksheets. The Application and Worksheets are <br /> primarily designed to score the desirability of the proposed project. Each project will <br /> be evaluated on a case-by-case basis to determine the extent to which they meet <br /> the City's desired objectives. <br /> E. At the time of acceptance by staff of the Public Financing Application, the applicant <br /> shall deposit $10,000 with the City to cover attorney and consultant costs incurred <br /> as part of establishing a TIF district or abatement, the TIF plan, drafting and <br /> negotiating a development agreement, and conducting any fiscal analysis that may <br /> be required to meet the requirements of utilizing any public financing. If additional <br /> expenses are incurred beyond the $10,000, prior to the execution of a development <br /> agreement, the City shall notify the applicant in writing and the applicant will be <br /> required to deposit additional funds upon notice. Any unused portion of the$10,000 <br /> deposit may be prorated and returned to the applicant at the city's discretion. <br /> F. Following a review by appropriate City staff/consultants the application shall be <br /> referred to the Economic Development Authority for further action. <br /> G. Before granting a business subsidy that exceeds $150,000, the City shall provide <br /> public notice and hold a hearing on the subsidy. <br /> City of Mounds View Public Financing Policy&Application <br /> Adopted February,2016(Expected) <br /> Page 7 of 21 <br />