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B. The City shall establish mechanisms within the development agreement to ensure <br /> that adequate checks and balances are incorporated in the distribution of financial <br /> assistance where feasible and appropriate, including but not limited to: <br /> 1. Third party review of the"but for" analysis <br /> 2. Establishment of"look back provisions" <br /> 3. Establishment of minimum assessment agreements <br /> C. The City will elect the fiscal disparities to come from inside applicable T1F <br /> district(s) to eliminate any impact to the existing taxpayers of the community. <br /> D. The City will target up to the maximum allowed by State Statute of tax increment <br /> for administrative purposes. <br /> E. The developer shall proactively attempt to minimize the amount of public <br /> assistance needed through the pursuit of grants, innovative solutions in structuring <br /> the deal, and other funding mechanisms. <br /> 7. PUBLIC FINANCING PROJECT EVALUATION PROCESS <br /> 7.1 The following four methods of analysis for all Public Financing proposals will be used: <br /> A. Consideration of project meeting minimum qualifications <br /> B. Consideration of project meeting desired qualifications <br /> C. Project meets "but=for' analysis and/or statutory qualifications <br /> D. Project is deemed consistent with City's Goals and Objectives <br /> Pleasenote that the evaluation methodology is intended to provide a balanced review. <br /> Each area will be evaluated individually and collectively and in no case should one <br /> area outweigh another in terms of importance to determining the level of assistance. <br /> 8. APPLICATION FOR PUBLIC FINANCING ASSISTANCE <br /> 8.1 The application process is a two-step process and must be completed in accordance with <br /> required application procedures. The purpose of this approach is to give an applicant the <br /> opportunity to present a development proposal without expending a great deal of money <br /> and time in pursuing a development that may conflict with the City's goals and <br /> objectives. <br /> 8.2 The City's public financing program will be administered by the City of Arden Hills. The <br /> City will require a non-refundable application fee in the amount of $2,000 for its <br /> processing of the application. The application fee shall be paid to the City at the time a <br /> final Public Financing Application is submitted. <br /> 8.3 At the time a final Public Financing Application is submitted, the applicant shall also <br /> deposit $10,000 with the City to cover attorney and consultant costs incurred as part of <br /> Page 6 of 7 <br />