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• <br />• <br />� <br />1. <br />2. <br />3. <br />4. <br />ECONOMIC DEVELOPMENT POLICY II�IPLEMENTATION GUIDELINES <br />Rev� s�d PrTarrh 14. 19 $ <br />�.. _• �- . .- <br />� �- • Ill' . .- . -. <br />1 . � •11'.! �• .! ,.� <br />Areas in which tax increment assistance can be provided for <br />commercial purposes include the 35W corridor (east and west <br />side) , the new B-2 bridg� corridor between 36 and County <br />Road C, and the new Coun�y Road C study area. (see map) <br />� � � --- �--.�rri1L*.5�1�9�����*S!['3:%���:� <br />The City will continu� to �ncourage intensity in the <br />target�d area. in instances where proposals do not meet <br />City guidelines for intensity, they should not be <br />�ncouraged. Intensity is defin�d as those items relating to <br />square footag�, tax base, and employment. <br />� � ' ` -�----t�- � ���z�•��rss��l�l� • <br />l'i���i �IT�i . 1 • <br />Based on the fact that the City has mad� a multiplicity of <br />housing types a major priority, tax increment will be <br />c.ons idered �,y�here throughout the City, if deemed <br />a�propriate by the City Council, for housing purposes. <br />��- �- �., ., � -u � _�� �• .!� •. t <br />The C'ity's preferred methods will continue to be the a <br />you-gc, a�proach, and the loan a p y-as <br />not involve the issuance of any bonds,� a d ythus yeliminates <br />the City's exposure in any particul�r deal. <br />The loan approach involves the sale of tax exem�at bonds, and <br />loaning th� proceeds to tl�e develop�r which, in turn, comes <br />back to the City wii:h interest. This lessens the bonding <br />risk in that there are two income streams that can be <br />utiliz�d to meet bond payments. Only in special, unique <br />situati.ons should "up front" assistanc� be considered; <br />hos��ever, innovative combinations may be reasonable in some <br />instances. Tax increment will be used only in instances <br />wher� developers can rnake a"case" that i� is n��ed�d. Neec� <br />is based on such crite�ia as land cost p�r s�, foot, land <br />cost per unit, and/or r�nt targets. <br />