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08-15-07
ArdenHills
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08-15-07
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• J. Relocation assistance <br /> K. Replacement or cleanup of contaminated soils which would otherwise preclude <br /> redevelopment <br /> L. Rehabilitation <br /> N. Any other costs allowable by state statute and approved by the City Council <br /> 4. Projects Which May Qualify for Tax Increment Financinp_Assistance <br /> It is assumed that the developer will enter into a Development Agreement with the City. <br /> All new PF-applications considered by the City of Arden Hills must meet each of the <br /> following minimum qualifications and will also be evaluated based on their ability to <br /> meet the desired qualifications for assistance. However, it should not be presumed that a <br /> project meeting any of the qualifications will automatically be approved. Meeting the <br /> • qualifications does not imply or create contractual rights on the part of any potential <br /> developer to have its project approved. <br /> Minimum Qualifications: <br /> A. The project should meet one or more of the Tax Increment Financing Objectives <br /> outlined in Section 2. But at a minimum shall: <br /> ■ Remove blight and/or encourage redevelopment in t4i =4 � <br /> adid � ��the City in order to encourage high quality development <br /> or redevelopment and private reinvestment in those areas. <br /> _ 0-a- — <br /> ■ acilitate the development process and to achieve development on sites <br /> which would not be developed without this assistance. <br /> B. The developer must demonstrate that the project is not financially feasible"but <br /> for"the use of tax increment financing. <br /> 1 The project must be consistent with the City's Comprehensive Plan and Zoning <br /> Ordinances, Design Guidelines or any other applicable land use document. <br /> Page 3 of 8 <br /> \\Metro-inet.us\ardenhills\Admin\Committees\Economic Development Commission\Business Subsidy Public <br /> Financing Policy-Draft 7-30-07.doc <br />
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