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8a. Attachment A D.These criteria are to be used in conjunction with other relevant policies of the City. Compliance with the Business Subsidy Criteria and City Public Financing Guidelines shall not automatically mean compliance with such separate policies. E.The City may deviate from the job and wage goals criteria outlined in Section 5 D and E below by documenting in writing the reason(s) for the deviation. The documentation shall be submitted to the Department of Employment and Economic Development with the next annual report. F.The City may amend this document at any time. Amendments to these criteria are subject to public hearing requirements contained in the Statutes. 2.CITY’S OBJECTIVE FOR THE USE OF PUBLIC FINANCING A.As a matter of adopted policy, the City may consider using public financing which may include tax increment financing (TIF), tax abatement, bonds, and other forms of public financing as appropriate, to assist private development projects. Such assistance must comply with all applicable statutory requirements and accomplish one or more of the following objectives: 1.Remove blight and/or encourage redevelopment in designated redevelopment/development area(s) per the goals and visions established by the City Council and EDA. 2.Expand and diversify the local economy and tax base. 3.Encourage additional unsubsidized private development in the area, either directly or through secondary “spin-off” development. 4.Offset increased costs for redevelopment over and above the costs that a developer would incur in normal urban and suburban development (determined as part of the But-For analysis). 5.Facilitate the development process and promote development on sites that could not be developed without this assistance. 6.Retain local jobs and/or increase the number and diversity of quality jobs 7.Meet other uses of public policy, as adopted by the City Council from time to time, including but not limited to promotion of quality urban design, quality architectural design, energy conservation, sustainable building practices, and decreasing the capital and operating costs of local government. 3.PUBLIC FINANCING PRINCIPLES A.The guidelines and principles set forth in this document pertain to all applications for City public financing regardless of whether they are considered a Business Subsidy as defined by the Statutes.The following general assumptions of development/redevelopment shall serve as a guide for City public financing: