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as appropriate,to assist private development projectswhen such assistance <br />complies with all applicable statutory requirements to: <br />1.Remove blight and/or encourage redevelopment in designated <br />redevelopment/development area(s)per the goals and visionsestablished by <br />the City Council <br />2.To achieve thefollowing housing-related goals: <br />a.To provide a balanced and sustainable housing stock to meet diverse <br />needs both today and in the future <br />b.To ensure all housing is safe and well-maintained <br />c.To promote neighborhood stabilization and revitalization by the removal <br />ofblightand the upgrading of existing housing stock. <br />3.To retain local jobs and/or increase the number and diversity of quality jobs <br />4.To encourage additional unsubsidized private development in the area, either <br />directly or through secondary “spin-off” development. <br />5.To offset increased costs forredevelopment over and above thecosts that a <br />developer would incur in normal urban and suburban development <br />(determined as part ofthe But-For analysis). <br />6.To facilitate the development process and to achieve development on sites <br />whichcouldnot be developed without this assistance. <br />7.To meet other uses of public policy, as adopted by the CityCouncil from time <br />to time, includingbut not limited topromotion of quality urban design, quality <br />architectural design,energyconservation, sustainable building practices,and <br />decreasing the capital and operating costs of local government. <br />5.PUBLIC FINANCING PRINCIPLES <br />A. <br />The guidelines and principles set forth in this document pertain to all applications <br />for City public financing regardless of whether they are considered a business <br />subsidy as defined by the Statutes. The following general assumptions of <br />redevelopment shall serve as a guide for City public financing: <br />1.All requests for City public financingassistance shall be reviewed by a third <br />party financial advisorwho will inform the City of its findings and <br />recommendations. <br />2.The City shall establish mechanisms within the development agreement to <br />ensure that adequate checks and balances are incorporatedin the distribution <br />of financial assistancewhere feasible and appropriate, including but not <br />limited to: <br />a.Third party review of the “but for” analysis <br />City of Arden Hills Public Financing Policy Page 3of 7 <br />April 29, 2013 <br />