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• will be need a to address issues such as relocation or abandonment of publicly <br /> owned utilities, easements, right of way, etc. <br /> d. "But For" analysis. State law requires an analysis to determine that the <br /> project would not proceed "but for" the assistance being provided through tax <br /> increment assistance. This is basically the basis for the tax increment <br /> negotiation. The issues that need to be resolved include the level of <br /> assistance provided, timing and form of the assistance. These discussions are <br /> part of the financial feasibility analysis. <br /> e. Environmental review. The City and developer should identify the need for <br /> any environmental review, which may be prompted by the proposed <br /> development. <br /> f. Land use review process. The type of process to be used for land use <br /> approvals and estimated time frames need to be identified. <br /> g. Preparation of final development agreement. The negotiation of the final <br /> development agreement typically takes at least 90 days once the major issues <br /> identified above have been addressed. <br /> The HRA will review both the final development agreement and the refined site plan as part <br /> of this process. In order to prepare the refined site plan, Ehlers recommends that the <br /> developer conduct a community open house prior to submitting a refined site plan for review <br /> with the final development agreement. <br /> The significance of the final development agreement is that it commits both the City and the <br /> Developer to a course of action based on conditions set within the agreement. These <br /> commitments typically include providing financial assistance upon completion of the <br /> project, assistance with land assembly if necessary and similar actions. To qualify for the <br /> assistance the Developer must meet conditions including securing land use and other <br /> regulatory approvals and obtaining financing commitments. <br /> Concurrent with the development agreement process the City should initiate the <br /> establishment of a Redevelopment Tax Increment District. This process includes evaluation <br /> of the qualifications for establishing a district according to State Statutes including <br /> inspections of properties that may be included within the district. Prior to beginning <br /> inspections a letter to property owners would be provided explaining the purpose of the <br /> inspections. <br /> • <br /> S:\Downtown Revitalization\Memos\Predevelopment8.22.02 <br />