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Saint Anthony Public Financing Policy Page 5 <br />F.Any applicant requesting public financial assistance must be able to <br />demonstrate a previous capability for successful development,as well as <br />specific capability regarding the type and size of the development proposed, <br />unless for a use specified in 4.2C (6-7).Public financing shall not be used <br />when the applicant’s credentials,in the sole judgment of the City,are <br />inadequate due to previous history relating to completion of projects, <br />general reputation,and/or bankruptcy,or other problems or issues <br />considered relevant to the City. <br />G.The applicant,or its contractual assigns,shall retain ownership of any <br />portion of the project long enough to complete it,stabilize its occupancy, <br />establish project management and/or needed mechanisms to ensure <br />successful operation. <br />4.2 DESIRED QUALIFICATIONS: <br />A.Projects providing a high ratio of private investment compared to City public <br />investment shall receive priority consideration.Private investment includes <br />developer cash,government and bank loans,conduit bonds,tax credit <br />equity, and land if already owned by the applicant. <br />B.Proposals that significantly increase the amount of property taxes paid after <br />redevelopment will receive priority consideration. <br />C.Proposals that encourage the following will receive priority consideration: <br />1.Implements the City’s vision and values for a City-identified <br />development or redevelopment area. <br />2.Promotes housing investment that meets the following City goals: <br />i.Provides at least 20%of the units affordable at or below 50%of <br />area median income (AMI),in accordance with housing TIF <br />requirements.If the project is eligible to be included in another <br />type of TIF district or if the developer is requesting other forms <br />of public financing,the City may consider in its sole discretion a <br />different level and percentage of affordability based upon the <br />size and location of the proposed project. <br />ii.Increase housing choice within the community;diversify <br />existing housing stock;and provide options that do not currently <br />exist <br />iii.Provide clean, safe, and affordable housing units <br />3.Provides significant improvement to surrounding land uses, <br />neighborhoods, and/or the City <br />4.Attracts or retains an employer within the City <br />5.Provides increased quality and higher paying jobs