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will not create such a competitive advantage. Priority consideration will be given <br /> to projects that fill an unmet market need. <br /> • E. TIF will be provided on a pay-as-you-go-basis. Any request for upfront <br /> assistance will be evaluated on its own merits in accordance with the City's <br /> general financing policies. <br /> F. .,k Ivwill not be used to support projects that place extraordinary demands on City <br /> services. _ <br /> ro,o�t L L�i V,�tl4A <br /> G. JIF will not y be used for projects that would generate significant <br /> environmental problems in the opinion of the local, state, or federal governments. <br /> Priority will be given to projects that aim to clean-up existing contaminated sites <br /> and would facilitate the location of an industry or business that has an <br /> environmentally-sound track record, or that meets a housing need in the City. <br /> H. Preference will be given to projects that meet good public policy criteria as <br /> determined by the City Council, including: <br /> • High project quality (e.g. sound architectural design, quality construction and <br /> materials, sustainable building practices) <br /> • Projects that are in accord with the ComprehensivePlan, Zoning Ordinance, <br /> Strategic Plan, and other redevelopment plans of the City <br /> • Projects that provide significant improvement to surrounding land uses, the <br /> • neighborhood, and/or the City' <br /> • Projects that provide a significant increase in tax base <br /> • Projects that provide significant new, or retained employment <br /> • Projects that meet financial feasibility criteria established by the City <br /> • Projects that provide the highest and best desired use for the property <br /> • Projects that are consistent with Active Community Living principles <br /> Gj Ifl Public Financing and Tax Increment Principles <br /> A. General assumptions of redevelopment shall serve as a guide fore financial <br /> assistance policies. These assumptions are as follows: <br /> 1. Redevelopment is an inevitable community process. <br /> 2. The City needs to be proactive to redevelopment challenges. <br /> 3. Redevelopment processes can be complex and may require a large amount <br /> of City resources to be successful. <br /> 4. The City recognizes public investment/initiatives for redevelopment are <br /> essential for the long-term health of the community. <br /> 5. Redevelopment costs may compete with other City interests. <br /> 6. Redevelopment benefits are both tangible and intangible. <br /> Page 5 of 8 <br /> \\Metro-inet.us\ardenhills\Admin\Committees\Economic Development Commission\Business Subsidy Public <br /> Financing Policy-Draft 7-30-07.doc <br />