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7.0. EDSR 04-10-2006
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7.0. EDSR 04-10-2006
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8/4/2011 11:14:47 AM
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City Government
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EDSR
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4/10/2006
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• Deleted the summary of the City's Business Subsidy Policy and state statute. Rather <br />the City's Business Subsidy Policy will be fully referenced within all financing policies <br />and applications (Section V) <br />• Increased the $5,000 application fee to a $10,000 non-refundable deposit (to cover <br />costs associated with establishing the TIF district) with the provision that <br />professional services in excess of the deposit shall be paid by the applicant, in <br />addition to professional cost associated with eminent domain and redevelopment <br />substandard tests (Section VI) <br />• Added provision that redevelopment and housing projects will be evaluated on a <br />case-by-case basis rather than using the scoring worksheet which is primarily <br />designed to evaluate industrial developments (Section VI) <br />• Added "Market Value/Tax Base Generation" to the application scoring worksheet <br />(Section I~ <br />Recommendation <br />Staff recommends that the EDA review the draft revised policy and provide feedback on any <br />additional revisions. Following the EDA's feedback staff will make the final revisions and <br />prepare the document for EDA and City Council adoption, along with the final Micro Loan <br />and Tax Abatement Policies, in May. <br />
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