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<br />0
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<br />V j. C, DBIELOP.I.-IENIT 'E"OLICY IINPLMIENTNT
<br />5C 0 NO 7 11 0"1 __jQN_iIDELIN20
<br />.2-ayised Fe"Dr'uary 29L_ 1988
<br />JM11 - �i
<br />Areas 'in which tax increment assistance can be provided t-or
<br />co-;a-mileric,lal purposes includ,el, the 3511 corridor (east and west
<br />s de) '-he IdO 2 bridge corridor between 36 and County
<br />t. n ei w, Bi
<br />Road C and the newi County, Road C study area. (see riijap)
<br />Rj Iii
<br />The City will. continue to encourage i.ritens, ity in the
<br />targ,t!.:.%tedI area, In, insitanc,el,s where proposals do not imeni
<br />City guidelinelis for intensityr they should noL be
<br />encolu ragied I. Intensity isi detined as'those items relating to
<br />square footiageli, tax baseir and employment.
<br />III 'D licy, a- -raligties to housincr?
<br />Whipa ims Ta-P ;T , 1
<br />ment-' oil
<br />Cased on the Z""act thiat.. the City has made a iiiult-iol"c"i
<br />Cy
<br />hou s ing ty-,oies a rilaj o r prio r i ty.# tax ionc reman t will o
<br />11
<br />coins ldertn..id a_nywhere throu
<br />"I gnout the City, Of deeiiie
<br />a 3propr late., by lthcal City Clouncil, tor hous"
<br />ing pur-.Do.,SJe.,--3.
<br />P g
<br />The 1City's .,,r,red mzetIlodsi will c".ontinue to be the
<br />you,-go apipiroach,, and the l,oan, approach. Pay-as*iiiiiiiiiiii�you iiiiiiiiiiiiii.g 0 a0es
<br />n,olt involve the issUaIlce of any bondst and thus ates
<br />thize% City"s tanodupposurei in any parlticular deal,
<br />The l oan ap-,Droalch inn olvesi the sale of tax exemot bonds, and
<br />loaning the prioceeds to t-hie developer which, in turn, comes
<br />oac!-ir. to the City with interest. This lessens 'Che bonding
<br />risk 'in, th,at there, are two income Cr s-eams that can be
<br />utilized to, m,elet bonid ,,oaynents, Only 'in special., unique
<br />stiould "'uu. front assistance be cons id red;
<br />bowevierr innovative co.n.,ibinations may be reasonable in som%e.
<br />-lill be used only ]Ln ' instanceis
<br />instiances. Ta'.1, incircamenil T,
<br />w lo*oers can ma kle a "'case" that it
<br />is needed. Need
<br />is based on such criteria, as land Cost ;'),ar sq foot, land
<br />ji Targets
<br />cois' "t, and/or rent. cargets.
<br />L. .oer un].
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