Laserfiche WebLink
retention will be considered onb~ m cases where job loss is specific and <br />demonstrable. <br /> <br />k. All TRti' proposals shah optimize the private development potential of a site. <br /> <br />V. PROJECT QUALIFICATIONS <br /> <br />AH TRF projects considered by the City of Elk River must meet each of the following <br />requirements: <br /> <br />a. The project shall meet at least one of the objectives set forth in Section III of <br /> this document. <br /> <br />The use of TRF will be limited to: · Industrial development, expansion, redevelopment, or <br /> rehabilitation; or <br /> · Commercial redevelopment or rehabilitation; or <br /> · Office or ~_Research anti development facilities that satisfy <br /> Business Park zoning requirements; or <br /> · Office facilities with a minimum nev¢ construction of 25,000 <br /> <br /> square feet and minimum market value of $1,000,000 upon <br /> project completion <br />· Residential development and redevelopment may be eligible for <br /> TRF under a separate set of policies and only with the <br /> recommendation of the HRA. <br />· New commercial or retail development is not eligible for TRF. <br /> <br />The developer shah demonstrate that the project is not financially feasible <br />but-for the use of TRF. Evaluation of the project's financial feasibiliw <br />without TRF shall be provided bv the Cit3,'s financial advisor. <br /> <br />d. d. The project shall comply with all provisions set forth in the state's Tax <br /> Abatement Law, statues 469.1812 to 469.1815, as amended. <br /> <br /> <br />