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Attachrrrent A iv, Removal and/or replacerr�ent of b�ildings and structures tl�at are blighted, abandaned, or traffic obstructions in a project area where at least 50°/v of the buildin�s are su�standard and require either substantial ra�zpvation or clearance. "Blighted" str�ctures shatl be de�iled as structures which have a market value that is less than 50% of t�e average square faot maricet value (as determined by the currei�t year's County Assessor's records) ofstructures wi�hza� a SQD faot radius a�'fil�e "blighted" structure. v. Constructioi� subsidy of, ar rent subsidy %r, low incorne l�nusing of all types. vi. Construction subsidies equivalent to up to ten (10) years property taxes far eom�ercial, industrial, or multifa�nily struciures which, because of th�ir l�ig� q�:aiity tnaterials, design, a��d constz-uction, will have a constiruction �val�e of a! teast I33% of ihe eurre��t year average building valuation for similar occupanczes as pubiished by �he Minneso�a Building Code Ofi'ice, vu. ��blic infrastruciure projects of a local or regional i�att�re (wliich are loca�ec� in or crass througl� the city) that benefit the site or fiuxure de�velopment po�en�ial but are not nartnally ��anced tlaraugh �eneral praperiy taxaiion. viii. Other building, land, or infrastructure �ses or impraveme�its allow�d witl�i�a State Staiutes 469.175 that are approv�d by the Ci�y Cauncil during the projec� review. SECT�UN 3. Tax I�crement Funds and Policies. Al� Cax incre�nen� revenues, a�ter ann�al d�bt s�z�vice requirements and direci project eoinmit�ents have be.�n �et will l�e depasited ir�to tlXe TAX �NCR�MENT FUND, A� annual f�nancial repaz� shal,l be compiled ii� a manner as estabtished by Minnesota State Statutes w1�ic1� will be �ade available �ublicly as weil as filed with t�e Of�ce of �l�e State Auditnr.. In districts wl�ere increments have beer� generated and are noi obligated to-pay-as yau—go projects, deb� repayinent, or io o�her distric�s, the Co�ncil will eval�ra�:e overall financial �olieies ta determi�ie the advanee payrnent of outstanding debt, district closure or the use of �he funds for ailowable prnjects. SEC�`ION 4. �'t�blxc Purpose �tatement fo� Infrast��eture I9evelopment. From tiine to ti�ne, the City Council ��nay choose to i��vest in i�ifrastructure to improve the qualil.y, quan�ily, ef%c�iv�ness, a�ci efficier�cy of public improvements, programs, and services. The City may assist (or share with a eollahoratar fro� atl�er public or private sector agar�cies} in the provision of such irnproveznex�ts. The pracess for approving i��frastructure developrr�ents includes the fallawing: A. The Ci�y Counci] may designate a review board or task force a��d a e�airperson, and p�•ovide a specife task a►id timetable for the review baard or task forc� ta review suck� proposals. During its designated time, the review board or �ask force may hold public inforrnation Fneetings to gatiier i��pu� regardin� the praposals, and report its �ndings to the City Gouncil for Coui�cil co��sideration. T}�� review baard nr task force rr�ay be composed oi re�resentati�es from the Council, Cl�e Ci�y Manager, Finanee Direc�or, Comzazunity Dc.velapment Diree�or, a repr�sentative from the �'lani�ing Commission ancl th� I'arl<s anc� Reereation Ca�n�nission, as well as otl�er citizens and pariicipai�ts desigr�ated by the Citiy Co�xncil. B. The review prncess s11a11 be eompased af 1j Recornn�ea�di��g possible public and private sector eoliaborators or joint v�nt�zres that may assisi in t�e improvement and ongoing administration, programrr�ing, and main�ena�xee costs of the project. 2) Recarnrr�endi��g a�iy private sector inves�ments fihat may leverage or inultiply the im�act of the public secior investment.