2017-06-05_EDA_Packet - Laserfiche WebLink

Home

Attachment G 3.Please submit an itemized list of project costs for which public financingis being requested. 4.Statespecific reasons why, “but for” the use of public financing, this project would not be possible. Application Process 1.The following documents must accompany the Application: A.A detailed sources & uses statement and 15-year project Pro Forma B.Parcel Map depicting the proposed redevelopment area C.Site plans and floors plans (as available) D.Significant information may be requested at any time by the City/EDA and in addition to the materials outlined in this application. The Applicant shall be required to submit any and all information as requested by the City/EDA. 2.Applicant acknowledges and agrees to pay the $1,500 Public FinancingApplication Fee, which is , at the time the application is submitted non-refundable 3.The application will be reviewed by the City’s Municipal Advisor, and upon favorable review, City/EDA staff will prepare a preliminary development agreement for review and approval by the Applicant and the City/EDA. If the Applicant and the City/EDA approve the preliminary development agreement, the Applicant shall deposit $15,000 with the City/EDA to cover administrative costs, defined as legal and consultants’ costs incurred as part of conducting any required fiscal analysis, negotiating and drafting a development agreement, and establishing a tax increment financing district or granting an abatement. Upon written notice from the City/EDA, the Applicant shall be responsible for paying administrative costs incurred exceeding applicant’s initial $15,000 deposit, if any.