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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 funds 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 />