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2015-01-27_PWETC_AgendaPacket
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2015-01-27_PWETC_AgendaPacket
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1/22/2015 4:27:23 PM
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Commission/Committee
Commission/Authority Name
Public Works Commission
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
1/27/2015
Commission/Committee - Meeting Type
Regular
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Attachment C <br />Twin Lakes Public Financial Participation Framework <br />Priority Funding Activities <br />The following is a list of activities, fundable under state statute, in which the City may consider <br />financial participation. <br />• Cleanup of environmental contamination <br />• Construction of public infrastructure (e.g. utilities, roads, and sidewalks) <br />• Streetscaping <br />• Public, structured parking facilities <br />• Site improvements (e.g. soil correction) <br />• Land acquisition (e.g. right-of-way acquisition) <br />• Others on a case-by-case basis <br />General Financial Participation Parameters <br />If it is determined that the City will financially participate in a project, the following are the <br />general parameters by which a development agreement will be negotiated. <br />Grants <br />• The City will apply for available regional, state, and federal grant funds to offset city <br />costs associated with City -led project elements. <br />• The City will consider applying for regional, state, and federal grant fiends to assist <br />developer costs for projects that provide a demonstrated community benefit. <br />• If limited funds available, City will give priority to City -led elements. <br />Tax Increment Financing (TIF) <br />• Pay-as-you-go Financing: Initial financing of eligible improvements will be the <br />responsibility of the developer with the City repaying the developer for eligible costs as <br />revenue is generated (Developer -led project elements) <br />• Upfront Capitalization: Upfront financing for public improvements (City -led project <br />elements) <br />• Financing Terms: Minimum financing for the shortest terms for the project to proceed. <br />Page 3 Adopted March 3, 2008 <br />
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