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TAx INCREMENT PROJECT 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 minimum qualifications; <br />2. Consideration of project meeting desired qualifications; <br />3. Consideration of Applicant Information responses (Section A & B); <br />4. Project meets "but for" analysis and statutory qualifications; <br />5. Project is deemed consistent with City Comprehensive Plan and <br />development/ redevelopment goals. <br />6. Developer must demonstrate experience in doing this type of <br />development. <br />7. Developer when applicable must pursue third party grant funds. <br />OTHER POLICY ISSUES <br />Fiscal Disparities: It is the City's general policy to have tax increment financing districts <br />contribute to fiscal disparities in accordance with applicable State Law. In the event a <br />project cannot be completed as a result of this election, the City may re-evaluate the <br />impact of this policy on the project within the framework of State statute. <br />Loss of Government Aid.- At any time, if the formation of a new TIF district or the use <br />of an existing district to finance a project will subject the City to an LGA/HACA penalty <br />or local contribution to a project the transaction shall be structured so as to have the <br />ultimate cost to the City minimized to the greatest extent permitted by law, so as to have <br />the project bear the cost of the penalty or contribution. <br />Public Use of Tax Increment: The City shall follow applicable state laws in terms of <br />potential public improvement financing with TIF. It shall be the general policy of the <br />City to identify public improvements at the time of adoption or amendment of the TIF <br />Plan. <br />HM, <br />