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RESOLUTION NO. <br />Page Two <br />e. An annual cash flow analysis showing total <br />income, expenditures, and reserves over the life <br />of the proposed indebtedness. <br />2. The project must be one which might not otherwise be <br />developed in the City in the absence of Tax Increment <br />Financing funding. Desireability shall be measured <br />in terms of <br />a. Increased tax base. <br />b. Elimination or prevention of blight. <br />c. Development of marginal land. <br />d. Provide for the fulfillment of a perceived need <br />of the City's inhabitants. <br />e. Competition with existing retail establishments <br />will be discouraged. <br />-3:--the-prejeet-mnat-add-e4gnifieent4r-te-the-e4tple-tex- <br />------- base r-el4m4nate-er-prevent-b44gh tr-develep-marginal-- <br />-------�endr-endfer-provide-for-the-fn��f44ment-ef-e-------- <br />-------peree4ved-need-ef-the-eityls-4nheb4t6nte:- <br />3. <br />The project must be consistent with the City <br />Comprehensive Plan and other existing codes. <br />4: The City will not sponsor Tax Increment Financing for <br />any proposal which requires rezoning or conditional <br />use permits unless an intention to request such <br />financing is communicated to the City prior to <br />applying for such permits. <br />5. The City reserves the right to employ legal, <br />accounting, appraisal, financial, and other <br />consultants to review the proposed project and its <br />financing which shall be paid by the applicant, <br />whether or not the City agrees to finance the project <br />or whether or not it is built. The City reserves the <br />right to requite cash deposit sufficient to cover <br />such costs. Any unexpended balance of such deposit <br />shall be returned to the applicant if the project is <br />aborted for any reason. If the project is approved, <br />the City will allow said expenses to become part of <br />the indebtedness costs, if financially feasible. <br />