3.0. HRSR 02-05-2001 - Laserfiche WebLink

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h. The developer shall adequately demonstrate, to the City's sole satisfaction, an ability to complete the proposed project based on past development experience, general reputation, and credit • history, among other factors, including the size and scope of the proposed project. i. For the purposes of underwriting the proposal, the developer shall provide any requested market, financial, environmental, or other data requested by the City or its consultants. V. PROJECT QUALIFICATIONS All TRF projects considered by the City of Elk River must meet each of the following requirements: a. The project shall meet at least one of the objectives set forth in Section III of this document. b. The use of TRF will be limited to: • Industrial development, expansion, redevelopment, or rehabilitation; or • Commercial redevelopment or rehabilitation; or • Office or research facilities that satisfy Business Park zoning requirements; • • Residential development and redevelopment may be eligible for TRF under a separate set of policies and only with the recommendation of the HRA. • New commercial or retail development is not eligible for TRF. c. The developer shall demonstrate that the project is not financially feasible but-for the use of TRF. d. The project shall comply with all provisions set forth in the state's Tax Abatement Law, statues 469.1812 to 469.1815, as amended. e. The project must be consistent with the City's Comprehensive Plan, Land Use Plan, and Zoning Ordinances. f. The project shall serve at least two of the following public purposes: • Job creation. • Increase of tax base. • Enhancement or diversification of the city's economic base. • • Development or redevelopment that will spur additional private investment in the area. 5