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RESOLUTION NO. 1848 <br />Page Two <br />d. Assumptions made in the preparation of the <br />feasibility report. <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 Tan 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 />f. Consistency with the City Comprehensive Plan or <br />Zoning Code and other existing codes. <br />3. The applicant shall deposit not less than $500 with <br />the application to cover City administrative expenses <br />which deposit is non-refundable. <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 require cash deposit sufficient to rnvPr <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 />