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Attachmeiit A Tax Increment Poi�cy Purpose The Ciiy of Rose�iIle Tax Iz�crerz�ent k'inancii�g Policies are established to prirnariiy enhance private sector emplaym�n� �rawth and job ret�z�tion, plus tax base expansion. Added priarities includ�. u��rading af obso�esceni public and private facitities, re�nediaiion of pollutio�, provision for nat�ral resc�urce rete��finn or remediation, ex�ansion of life cycle a�d af�'ordable housing re�lovatini� ar►d new construction. It seelcs to invalve the community, the z-e�iaz�, anct other taxing jvrisdiciions in a fair and open process. Tlie policy shall rneet the requiretzaet�is of Mir►nesota Statutes 469. It will be honest to its eitizens, iair io all a�'�'ected ta�ing districts, eornprehensive in calculating its impact, open to public and gavernmental scrutiny aizd eomrr�ent, and treat all applicants in a fair manner--yet, recognize �hat fair treatmei�t may not neaessarily be interpretec� as equal treatrtient to all, due to the limited resources available. Scape ��CTION �. General Policv Statemen�. It is the Ciiy's policy �o encourage and anhance ii�dividual cl�oiee in jobs and in I�ousing to �t our citizens �eeds; to �neourage and enhance economically strong, stabie jo6 praducing cazntnercial and iildustriai projeets wiihi� the city whieh wilt ereate eznplpy�ent oppqrtunities; to provide housing affordable to our reszder�ts; t:p pravide Iife cycle i�ousing opportu��ities; to pro�ide for pollution abateinent and soil carrec�ion; t;o protect a��d e�l�a�ace ��atural resources; and to pro�ect i�dividual a�d eammunity property values by redevelopin� bligl�ted buildings, lai�d, and public infras�r�cture. The City will use tax incre�nent �naneang ir�vestmezits or�ly in ve�y s�ecific eases where a needed public objective is ide��tif ed and approved and pri�ate capital could not Ue attracted. ta accomplisl� tl�'ts obj�ctive. Ti�e City wili be proactive in forming gavern�ne��t collaboratiQns and lev�rage pri�ate ii�vest�nents in areas or sites wliere a project would not atherwise be fnancially feasible. To im�leme��t �hese g��aeral policies, it is also necessary to establish a policy regardin� �he ordearly process of plannin� ai�d budgeting to iulfill legal and operating requirements. Suc� a policy will pra�ide tscal guidance for elected of�ciais, staff, and the cocn�nunity to set priorities and n�eei th� needs oi'the citizens in a methodical a��€d �nancially prudent rnanner. SECTI0�1 2. Public Pur ose Statenr�er�t �or �eo�zpmic and Hot�sin l�evelp ment. The City CounciI sl�all aonsider fil�e followir�g public purpose issues after completion of an application by the develaper: A. The prajeci shall zneet the Iegislative crit�ria and intent for tlie use of tax increment subsidies. T�� �gures supplied ii� the ap�lication shall be cl�eeked for accuracy. Ti�e School �3istric� and County sl�all be approached by tk�e developer and presented with an applicatioii for their review. The City shall �tilize the services of quali�ed advisors iiaeludin� but not lizni�ed to ii�dependent legal, accounting, �nancial and planning advisors vvith developtn�nt expertise to provide tha Ci1,y Ca��cal with additianal praject analysis. B. The de�eloper sha11 dernonstrate t�at th� pro�ject as proposed eannot be built wit�out ��e use af a pub3ic investment ir�cei��ive; it is understood thai tl�ese projects wa�ld noi be �nancially feasible without tax i��crernent assista2�ce fro�n the City. Assista��ce tp pramote cornmunity development ob�ectives shail typically be in fil�e form of pay-as- you-go tax inerenlent �naracing. Each project will be evaluat�d on a case by ease basis. The City Council reserves the ri�i�t to provide up froz�t subsidies for priority projects. C. The project shall at�em�t �o cr�ate mare o� a ta� basxs tt�an it consu�nes in City, Gounty, or School services. The �ublic serviees (a�d. tk�e esti�ated casts) �required by �he praposed use s�all be eaiculated. Within districts thai are prahibited fracxz pooling funds, any excess increment generated s1�all be returned to fhe Schaol District and the County.