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3 <br />Q <br />C <br />I�� <br />E. <br />Replacement or correction of overburdened or aged City or County roads, sewers, or other <br />public utilities, services, or parks which generally serve the proposed development site. <br />Removal andlor replacement of substandard buildings and structures which are blighted, <br />abandoned, or traffic obstructions in a project area as defined by Minnesota Statutes. <br />Construction subsidy of, or rent subsidy for, low income housing of all types. <br />F. Construction subsidies equivalent to up to ten (10) years property taxes for commercial, <br />industrial or multifamily structureswhich, because oftheirhigh qualitymaterials, design and <br />construction, will have a construction value of at least 133% of the current year average <br />building valuation for similar occupancies as published by the Minnesota Building Code <br />Office. <br />G. Public infrastructure projects of a local or regional nature (which are located in or cross <br />through the city) that benefit the site or future development potential, but are not normally <br />financed through general properry taxation. <br />H. Other uses allowed within state statutes as approved by the City Council. <br />Tax Increment District Duration <br />'�he maximum term of use to collecttax increment subsidies shall be limited, unless e�tendedby City <br />Council to protect community interests, as follows: <br />A. Low — Moderate Income Housing <br />B. Redevelopment of blighted areas <br />C. All other uses <br />D. Subdistricts forHazardous <br />Substances <br />Procedure <br />20 years increment <br />12 years increment <br />10 years increment <br />Only the years needed to <br />pay for cleanup <br />The applicant, the proposed proj ect and its application process shall comply with state statutes <br />regarding the use of tax increment financing. All consultants representing the applicant shall be <br />separate and independent from the City. All materials and applications supplied by the applicant or <br />its consultants shall become the properry of the City. No assurances of approval are implied or <br />possible through the application or review process. <br />Before submitting a completed formal application, applicants are encouraged to reserve time <br />to meet with the City Council at a regularly scheduled council work session to explain the <br />proposal; the expected time to complete the review of the project; and seek informal comment <br />and direction. Contact the City Manager to schedule a meeting with the City Council. <br />� <br />