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CC PACKET 05092006
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CC PACKET 05092006
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7/30/2015 11:37:08 AM
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5/7/2014 2:28:48 PM
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City Council
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City Code Chapter Amendment
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3. Proposed projects must be consistent with the City's Comprehensive Plan as <br />determined by the City Council. <br />4. Proposed projects that promote the completion of major public <br />improvements within the City, such as major trunk sanitary or water lines, <br />and major transportation projects are preferred. <br />5. The level of assistance provided to developers will be determined on a case- <br />by-case basis. When determining the level of assistance, the City will <br />consider the quality of the proposed development and/or the quality of the <br />employment opportunities that might be generated. <br />6. TIF assistance will be allocated for appropriate statutorily authorized uses, <br />including but not limited to the following: <br />0 Land acquisition <br />0 Loans <br />0 Site preparation and improvement <br />0 Public improvements <br />0 Demolition <br />0 Bonding costs <br />0 Capitalized Interest <br />0 Specifically stated actual costs of legal and engineering fees <br />7. All new TIF projects considered by the City of St. Anthony Village must <br />demonstrate a compatibility to the City's economic development/ <br />redevelopment and housing goals and will also be evaluated based on their <br />ability to meet the desired qualifications for assistance. However, it should <br />not be presumed that a project meeting any of the goals or qualifications will <br />automatically be approved. Meeting any of these goals and qualifications <br />creates no contractual rights on the part of any potential developer to have its <br />project approved. <br />ADDITIONAL REQUIREMENTS: Application for TIF assistance must be accompanied with <br />a signed Development Application and the payment of a $3,000 non-refundable <br />application fee. Additionally, a $10,000 escrow payment must accompany the <br />application for TIF assistance. These escrow funds are utilized to ensure payment of <br />bond counsel, financial consultants,, attorneys fees, etc. The applicant is responsible to <br />pay for all fees related to the application and development of the TIF plan and its <br />implementation. <br />A final Development Agreement., outlining the terms and conditions of the final TIF <br />plan, shall be completed and signed by the City and TIF applicant. <br />TAX INCREMENT PRgJECT EVALUATION PROCESS: Please note that the evaluation <br />process is intended to provide a balanced review. Each section will be evaluated <br />individually and collectively and in no case shall one area outweigh another in terms of <br />importance to determining the level of TIF assistance. <br />1. Consideration of project meeting rr =**MUM qualifications; <br />2. Consideration of project meeting desired qualifications; <br />a <br />
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