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Atfach�nent A <br />All new dis�ricts will not export funds, but may receive additronal funds under the guidelines af <br />Section 3. <br />D. The public shall have adequate legal notice af this paroposal and been give� an opportunity to <br />review tl�e project de�ails befcaz-e aa�d duri��g publie hearings. T�e use of cornmunity polls rnay be <br />cansidered tp assess eommunity interest in proposed infrastructure projects. <br />E. Sig�iifica�it new er�aployrnent or hpusing choices s1�a31 be created at the site that will ben��t a broad <br />sagrne�rt o� our cprnmuni�y. <br />F. The project shall enhance adjoini�g properties and create oppor�unities for further cievelap�x�ent. <br />When an en�iranmental problem exists witl�in a proposed projeci, the developer shalI reduce, <br />corract, ar eliminate said problem(s) on the site. <br />G. The project shalI be ca�npatible r�vitli the adjaceni and nearhy la�td �ses, and s�a�l be ccansiste��t <br />wi�h �he City's Compre�ensive �'lan and zoning regulations. <br />H. The r�uality of the proposed building and site improv�menis shall m��t or exceed City staa�ciards. <br />Prpject financing utilizing TT� sl�all consadez- alternative equity so�rces, t17e barr'rers to private <br />sector invalve�aaen� w�icl� xnake necessary ti�►e �se of TIF, and the project a��d fn�aracial guarantees <br />w1�icIa pratect tha City's i��vestrnent. <br />J. T�centives nnay be in t��e form a� loans, r�payable to t�e City for other econarnic development <br />activities. Suc�Z incentives may be �sed by the City to adequa�ely coin�ete witla other comrnunities <br />ia retain and/pr expand head of household jobs w��� g;rowth requires a b�tilding expansion or plant <br />and equipment update. <br />i. Loans may only be consic�ered as a� i�centive if iax anerement is insufficient to ci•eate <br />adequate taz� i��crem���t to support the project aizd shall demons�ra�e and provide s�ret� <br />ai�d security as described in Subseetion I.. above. <br />ii. Applicants seekin� iqans shali derno��strate thai a local bank will pravide at least 50°/a of <br />the �unds ar�d agree to: a) share ali underwriting inforn7a�ian ancl, b) senrice bot� th� banlc <br />ar�d City loans. <br />iii. Ti�e loan term s�ail be for no more than 8 years. The City interest rate shall be t�e City's <br />averag� earned interest oia invesl:ments for the previous 12 zxao�aths. <br />iv. Applications far loans sl�all use the Ciiy tax incremeiit applicaiion forrn and sl�all include <br />all bank laan application docu.meiiiation. <br />K. Tax i��cre�neni may be used for �h� following purposes: <br />Replacement ar elear��p af contaminat�d soiis ti�at would precl�de c�evalopmer�t (as <br />de�ned by tl�e Minnesota Poil�tion Control Agency). <br />ii. Reclamation o�existi�g urban area unb�xildable soils, <br />iii. . Replacement or corr�etio�a of overburdenecl or aged City or County roads, sewers, or other <br />pubiic utilities, sarvices, or parks w�ich �e��erally serve the praposect developinent sii;e. <br />