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• To offset increased costs of redevelopment (i.e. contaminated site clean up) <br /> over and above the costs normally incurred in development. <br /> 110 • To create opportunities for affordable housing. <br /> • To contribute to the implementation of other public policies, as adopted by the <br /> city from time to time, such as the promotion of quality urban or architectural <br /> design, energy conservation, and decreasing capital and/or operating costs of <br /> local government. <br /> IV. POLICIES FOR THE USE OF TRF <br /> a. TRF assistance will be provided to the developer upon receipt of taxes by the <br /> City, otherwise referred to as the pay-asyou go method. Requests for up front <br /> financing will be considered on a case-by-case basis. <br /> b. Any developer receiving TRF assistance shall provide a minimum of twenty <br /> percent (20%) cash equity investment in the project. <br /> c. TRF will not be used in circumstances where land and/or property price is in <br /> excess of fair market value. <br /> d. Developer shall be able to demonstrate a market demand for a proposed <br /> project. <br /> • e. TRF will not be utilized in cases where it would create an unfair and <br /> significant competitive financial advantage over other projects in the area. <br /> f. TRF shall not be used for projects that would place extraordinary demands <br /> on city services or for projects that would generate significant environmental <br /> impacts. <br /> g. The developer must provide adequate financial guarantees to ensure <br /> completion of the project, including,but not limited to: assessment <br /> agreements,letters-of credit,personal guaranties, and etcetera. <br /> h. The developer shall adequately demonstrate, to the City's sole satisfaction,an <br /> ability to complete the proposed project based on past development <br /> experience, general reputation, and credit history, among other factors, <br /> including the size and scope of the proposed project. <br /> i. For the purposes of underwriting the proposal, the developer shall provide <br /> any requested market, financial, environmental, or other data requested by <br /> the City or its consultants. <br /> • <br /> 4 <br />