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Attach�ae�t A <br />3) Estiar�ating t��e job creation and head-of hpusehold/living wages that would be erea�ed or <br />supported by such �ventures. <br />4) �stiza�ating tha ta� val�e and possible additionat property tax value that co�ld be generated <br />6y tlie proposed development. Estimati��g the impact on the �ehool I]ist�rict and the <br />Gouniy. <br />5) Estimatir�g the eorr�m�ni€y q�ality of life and customar serviee irr�proveznents tl�at rnay <br />accur because af the projeci. � <br />6} Recomimending fuiure p�ases of improveme�it for ihe project which wo�ld provide a <br />competitive leading edge or new directian for the City. <br />7} The revievv process si�ali be co�posed of eval�ation of potei�tial alternal:ive so�rces of <br />re�enues. <br />APPEND�X 1. Prr�ced�res. The fqIlawing proeadures are l7ereby adopted to provide direction before, <br />during, and afler consideration of the tax iz�crern�en� £'u�ancing request by tha CiLy Council: <br />A. T�e applicant, the propnsed projeef, and its application process shaIl comply with State Statutes, <br />469.175, regarding the use of tax incxement finaz�cz��g. All consulta��ts representing the applican� <br />sha11 be separate and i��depe��dent from t}�e City. All mal:erials and applicatiaz�s supplied by tl�e <br />applieani ar its cons�ltants shall becoan� tl�e properiy of the City. No assurances of approval sre <br />i�nplied or possible thro�gli tha application ar revaew process. <br />B. The City sk�all ba rei�nbursed b� the applicant for ail costs ir�curred by the Ciiy in tl�e preparation <br />and review of ihe proposal. The applica�t shall deposit with the City a naz�-r�fundable <br />adminis�rative/applicatio�� fee as req�estec� by th� City Cauncil. �'riar to �nal approval of the iax <br />subsidy, tl�e City �'inance Directpr shall certify a��y additional cosTs not covered by the <br />ad�ninistrative or application fees, wl�ich shall be paid to the City przor to �nal approvals by �he <br />City, No cons�ructian shall be done prior tc� �'i�ial appraval of �he tax increment s�bsidy plan. <br />C. The City reserves ihe right to deny any application for fnancing at any stage of ihe tax increznent <br />re�iew or hearings prior to the adoptian oithe final appror�al a��harizing tlie issua��ce of the laa�. <br />D. The City reserves the right to seleet a third �a�i:y to assist in the rr�anagemen� nf �he iax <br />subsidy process. <br />E. Proposals shall inelude a description of all direct and indixect service anc� improvernent costs to the <br />Gity, School Dis�rict, and Caunty caused by this project. <br />API'ENDIX 2. Tax Increrxa�e��t Te�z�, The rr�axiznuzn teri� of u€se to collect ta� i��cremeni subsidies shall <br />be Limited, �nless e�te��ded by Cii.y Council to protect cominunity i�iterests, as follows: <br />1. �,ow Incorne Housi�g 20 years increment <br />2, Radevelopment of bXigh�ed areas 12 years increinent <br />3. A�i Oti�er Uses 10 years increment <br />4. Sub districts far Hazardous Substances Onl� the years ne�ded to pay for cieanup <br />APPEND�X 3. Tax I�crernent Application Process. Applications requesting use of tax i�ZCrement <br />fnaa�cing subsidies shall be accornpanied by the following witlaout exe�ption: <br />