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<br />public policy. <br /> <br />H. TIF will nonnally not be used in a project that involves an excessive land and/or property price. This <br />will normally be where the acquisition price is more that 10% in excess of market value. <br /> <br />1. All TIF projects will need to meet the "but for" test TIP will not be used unless the need for the <br />City's economic participation is sufficient that, without that assistance the project could not proceed <br />in the manner as proposed. <br /> <br />1. TIF will not be used in projects that would give a significant, competitive financial advantage over <br />similar projects in the area due to the use of tax increment subsidies. <br /> <br />R. TIF will not be used when the developer's credentials, in the sole judgement of the City, are <br />inadequate due to past track record relating to: completion of projects, general reputation and/or <br />bankruptcy, or other problems or issues considered relevant by the City. <br /> <br />L. A developer using TIF will need to provide a fmancial guarantee for the repayment of the TIF, <br />within the constraints of existing tax law. <br /> <br />M. TIF will not be used to support projects that place demands on City services, or other capital or <br />operating expenditures, that exceed the average city expenditures for similar facilities. Consideration <br />will be given to the total public costs that are required to support the project, including offsite <br />facilities costs that are required. <br /> <br />N. TIF will not nonnally be used for projects that would generate significant environmental problems <br />in the opinion of the local, state, or federal governments. <br /> <br />o. TIF will not be used when the schedule for development has exceeded the schedule established in <br />the redevelopment agreement, and where the City has not agreed to extensions of that schedule. <br /> <br />P. TIF funding should not be provided to those projects that fail to meet good public policy criteria as <br />detemrined by the Council, including: poor project quality; projects that are not in accord with the <br />comprehensive plan, zoning, redevelopment plans, and city policies; projects that provide no <br />significant improvement to surrounding land uses, the neighborhood, and/or the City; projects that <br />do not provide. a significant increase in tax base; projects that do not have significant new, or <br />retained, employment; projects that do not meet financial feasibility criteria established by the City; <br />and projects that do not provide the highest and best desired use for the property. <br /> <br />N:\WPDATA\CENTER V1\TIFPOLIC <br />