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C. The project shall attempt to create more of a tax basis than it consumes in City, County, or School services. The public services (and the estimated costs) required by the proposed use shall be calculated. Within districts that are prohibited from pooling funds, any excess increment generated shall be returned to the School District and the County. All new districts will not export funds, but may receive additional funds under the guidelines of Section 3. D. The public shall have adequate legal notice of this proposal and been given an opportunity to review the project details before and during public hearings. The use of community polls may be considered to assess community interest in proposed infrastructure projects. E. Significant new employment or housing choices shall be created at the site that will benefit a broad segment of our community. F. The project shall enhance adjoining properties and create opportunities for further development. When an environmental problem exists within a proposed project, the developer shall reduce, correct, or eliminate said problem(s) on the site. G. The project shall be compatible with the adjacent and nearby land uses, and shall be consistent with the City's Comprehensive Plan and zoning regulations. H. The quality of the proposed building and site improvements shall meet or exceed City standards. L Project financing utilizing TIF shall consider alternative equity sources, the barriers to private sector involvement which make necessary the use of TIF, and the project and financial guarantees which protect the City's investment. J. Incentives may be in the form of loans, repayable to the City for other economic development activities. Such incentives may be used by the City to adequately compete with other communities to retain and /or expand head of household jobs when growth requires a building expansion or plant and equipment update. Loans may only be considered as an incentive if tax increment is insufficient to create adequate tax increment to support the project and shall demonstrate and provide surety and security as described in Subsection I. above. ii. Applicants seeking loans shall demonstrate that a local bank will provide at least 50% of the funds and agree to: a) share all underwriting information and, b) service both the bank and City loans. iii. The loan term shall be for no more than 8 years. The City interest rate shall be the City's average earned interest on investments for the previous 12 months. iv. Applications for loans shall use the City tax increment application form and shall include all bank loan application documentation. K. Tax increment may be used for the following purposes: Replacement or cleanup of contaminated soils that would preclude development (as defined by the Minnesota Pollution Control Agency). ii. Reclamation of existing urban area unbuildable soils. II -29