2015 05-19 CC PACKET - Laserfiche WebLink

Home

PART 11 GUIDELINES 1. The City will consider tax. exempt financing for coriunercial, industrial health care, and any other projects authorized�to be financed under the Industrial Development Act (zeferred tows "non -housing projects"), and housing projects under the Housing Act. An applicant fbr tax. exempt financing for non -housing projects pursuantto the industrial Development Act must submit to the City the application contained in Part W of these. Guidelines. An applicant for tax exempt financing forIousing projects.:pulsuant to the Housiing.Act must submit to the, W ... City the application contained-.in-Party o ese Gui a ixres. - -� - w - ----� - - 2. Projects must be compatible with the overall development plans acid objectives of the City and comply with the zoning and land use regulations of the City: I An application will not be considered by the City until te#itat ve City Code findings acid requirements have been made with respect to zoning, Building plans, platting,. streets,. and utility services. The. application .must be accompanied by the addendum contained in Part 'VT -of these Guidelines and must provide information as to the projeces need for municipal services including, but not limited .to,: street improvements, water and sewer services, and -police and fire protection. 4.. The project°must be a positive benefit to the City. The project must be of a.nature that -the ,. City wishes to attract, or an existing business. which the City wishes to have expend within the City,.*cdi sidering.employment oppartwlities, incentive for further development, impact an City services, and support for the industrial, cominercial or health care: or educational. facilities currently located in the City. A housing *project must provide significant bousing opportunities for low and moderate income persons or the elderly. S: The City. Council wily if .requested, grant an applicant a pre -application review: The purpose.of the pre -application review .is -to. inform applicants of the possibility of rejeciipli or .the possible bases for such rejection. The fact. tlnat.the project is not rejected at the pre= application stage is not to be construed as approval.of'the. projector as an indication that the project will be -approved upon Tormal request to the City Council. Requests for tax exeimpt fiinancing may be rejected by the City whether or not the. protect. was submitted to a pre - application review and regardless *of the: outcome; or recorruttendation of that pre -application review. A request for pre -application review must be.* in writing; addressed to the pity Clerk; and set forth the name of the. project,. the type of project intended nd the name; address and telephone number of the person who will be -representing the applicant at*the pre -application review; together with such additional information as the applicant desires. to submit. 6. The underwriter for 'die *Proposed Bonds will submit a letter that establishes the financial feasibility of the. project. Applications may.; in the alternative, include a signed letter from a. responsible financial institution indicating- that the project is economically feasible and z