7.0. HRSR 07-23-2001 - Laserfiche WebLink

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• 3. The projects must be compatible with the Comprehensive Plan and the development plans and objectives of the City. 4. A project application requesting a public offering must provide reasonable assurance of security resulting in at least an A rating. 5. A project application must demonstrate equity participation of in the form of cash or depreciable assets. 6. Industrial and health care projects must not be speculative, i.e., they must either be for the applicant's sole use or 60% of the square footage must be pre-leased. 7. The use of conduit bonding for commercial development shall be limited to the presently developed areas for the purpose of accomplishing redevelopment or revitalization. 8. The total principal amount of tax exempt obligations for a single project will be limited to the sum of the following costs: a. Land or land improvements. b. New construction or existing building improvements for a new, redeveloped, or expanded business or housing project. c. Capital equipment and machinery for manufacturing purposes. d. Fees for professional services associated with the project. e. Bond issuance costs and capitalized interest during construction. Those applications which exceed the minimum standards will generally be considered more favorably than those which only meet these standards. B. Additional Review Standards Those applications meeting all of the standards listed above will be further reviewed to determine compliance with the following additional review standards. Applications meeting more of the following standards will generally be considered before those that only meet some of them or meet them less extensively: • 1. Facilitation of the City's development or redevelopment objectives. 2. The number and type of additional jobs created or retained in the City. 2 July 19,2001