Laserfiche WebLink
reinvestment in those areas, retain local jobs, increase the job base, and provide diversity in that <br />job base, enhance existing jobs through increased wages, encourage additional unsubsidized <br />private development in the area, either directly, or through secondary "spin off' development, <br />offset increased costs of redevelopment over and above those costs that a developer would incur <br />in normal urban and suburban development, and meet other uses of public policy, as adopted by <br />the Council from time to time including the promotion of quality urban design, quality architectural <br />design, energy conservation, decreasing the capital and operating costs of local government, etc. <br />The project would increase housing choices in the City. <br />Section 3. City's Objective for the Use of Public Financing. <br />In order to approve a public subsidy, the project must work to advance a City objective. Parts B <br />and G of section 3.1 relate to housing. The other sections pertain to job creation and retention. <br />3.1 As a matter of adopted policy, the City of Arden Hills may consider using Tax Increment <br />Financing (TIF) and other forms of public financing, such as tax abatement, bonds, and <br />other forms as appropriate, to assist private development projects when such assistance <br />complies with all applicable statutory requirements to: <br />B. To achieve the following housing -related goals: <br />1. To provide a balanced and sustainable housing stock to meet diverse needs both <br />today and in the future <br />2. To ensure all housing is safe and well -maintained <br />3. To promote neighborhood stabilization and revitalization by the removal of blight <br />and the upgrading of existing housing stock. <br />G. To meet other uses of public policy, as adopted by the City Council from time to time, <br />including but not limited to promotion of quality urban design, quality architectural design, <br />energy conservation, sustainable building practices, decreasing the capital and operating <br />costs of local government. <br />The project would work to creating a more diverse housing stocks. The SCI proposal also <br />includes information about energy conservation and sustainable building practices for multi- <br />family housing. <br />Section 4. Cost Which May Qualify for Public Financing Assistance, <br />The Business Subsidy Policy limits the types of expenses that would qualify for public <br />assistance. The costs that pertain to this project may include: <br />A. Project design fees including utilities, landscape, architectural, and engineering design <br />B. Site -related work, including earthwork/excavation, soil correction, landscaping, utilities, streets <br />and roads, street/parking lot paving, street/parking lot lighting, curb and gutter, and sidewalks <br />C. Land acquisition <br />E. Soil tests <br />Page 2 of 5 <br />