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<br />. <br /> <br />. <br /> <br />. <br /> <br />are not limited to, assessment agreements, letters of credit, personal deficiency <br />guarantees, guaranteed maximum cost contract, etc. <br /> <br />E. <br /> <br />Any developer requesting TIF assistance should be able to demonstrate past successful <br />general development capability as well as specific capability in the type and size of <br />development proposed. TIF will not be used when the developer's credentials, in the sole <br />judgment of the City, are inadequate due to past history relating to completion of <br />projects, general reputation, and/or bankruptcy, or other problems or issues considered <br />relevant to the City. <br /> <br />F. <br /> <br />The developer, or its contractual assigns, should retain ownership of any portion of the <br /> <br />project long enough to complete it, to stabilize its occupancy, to establish project <br /> <br />management and/or needed mechanisms to ensure successful operation. <br /> <br />TCAAP Guidinl! Public Financinl! Principle <br />The City of Arden Hills is committed to the redevelopment of the Twin Cities Anny <br />Ammunition Plant (TCAAP ) as evidenced by a series of documents including the City Council <br />approved Goals and Objectives, dated January 26, 2004 and the adopted TCAAP Framework <br />Vision. It is understood that the blueprint for the redevelopment will undergo continuous <br />rcfinement and modifications throughout the life of the project. <br /> <br />The City recognizes that the TCAAP project, like all redevelopment efforts, has extraordinary <br />project costs including, but not limited to, environmental clean-up, major infrastructure <br />improvements, architectural enhancements and other modifications that will assist in marketing <br />property that carries with it the stigma of a polluted Super Fund site. The end redevelopment <br />goals are to create a long term community asset and secondly, the environmental clean-up of a <br />vacated military ammunition plant ensuring the health and safety of Arden Hill's residents. <br /> <br />In order to secure these redevelopment goals the City needs to partner with a development group <br />(0 implement the TCAAP vision. Based on observation from other metropolitan redevelopment <br />projects it should be assumed that the TCAAP redevelopment will need substantial public <br /> <br />Page 4 of9 <br />\\Earth\Admin\Committees\Economic Development Commission\Tax Increment Financing Policy - Copy with <br />Council and EDC Strikeouts and Bold Text.doc <br />