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G. I f requested by the City the developer shall provide adequate financial guarantees to <br />ensure completion of the project, including, but not limited to: minimum assessment <br />agreements, letters of credit, cash escrows, and personal guaranties. <br />H. Each developer must be able to demonstrate to the City's satisfaction, an abiliTy to <br />construct, operate, and maintain the proposed project based on past experience, <br />general reputation, and credit history. <br />I. If requested by the City, or its consultants, the developer shall provide sufficient <br />market, financial, environmental, ox other data relative to the successful operation of <br />the project. <br />J. Projects receiving business subsidy approval from other affected taxing jurisdictions <br />will be more favorably received by the City. <br />V. GUIDELINES FOR COMMERCIAL/INDUSTRIAL BUSINESS <br />SUBSIDIES <br />A. Business subsidies will not be used foxFetail ox service businesses unless it is a <br />redevelopment project that demonstrates that it will result in a substantial increase in <br />tax base and a significant improvement in quality employment. <br />B. The project must be consistent with the City's Comprehensive Plan, Land Use Plan, <br />and Zoning Ordinances. <br />C. The project must result in the retention of existing jobs that would be lost "but fox" <br />the proposed development or result an increase and diversification in local jobs. <br />Business retention jobs will be considered on cone-fox-one match to job creation <br />only in cases where job loss is specific and demonstrable in accordance with the bi1V <br />Business Subsidy I.aw. <br />D. Specific wage and job goals will be determined by the City giving consideration to <br />the particular form of the subsidy, nature of the development, the purpose of [he <br />subsidy, local economic conditions and similar factors. The recipient will have up to <br />two years trom._thc b<ne ht date. titiluch is the d ttc_th~r the rc ci.picnt re cc tvu~s_(hg <br />stebsid~ , to meet the job and wage goals established by the City. <br />__ <br />Deletetl:, <br />Deleted: o, s a <br />1 The minimum wage fox a 'rob to be considered a n~v or retained job shall be 515 Uil ~ i Formattetl: Bullets and Numbering I <br />pe{ho live of bent:fits rultuxed lay, law Decr~.nons Ic ss._tl}m the wu~ t7o <br />... ur, ~x~hi ....... <br />u~ill_h_e_consde.red on ~ case-hr i ane. hasi.nnd m aacscd ince ~yirh_ibe rec}?xit<_mcttt_g, <br />t hc_~(\. liusinc ~ubotdv S,a~q,, <br />[~. Business subsidies will not be used for commercial/industrial projects that have a - - ~ Formatted: bullets and Numbering I <br />history of inconsistent compliance with applicable environmental rules and <br />regulations. <br />City of lilk Rivice Busiuuss Subsidies Putty <br />1~° Draft tlmeuded Apol 2006 <br />