7.0. EDSR 03-13-2000 - Laserfiche WebLink

Home Browse Search

h. The developer shall adequately demonstrate, to the City's sole satisfaction, an ability to complete the proposed project based on 410 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 tof this document. b. The use of TRF will be limited to industrial development or expansion, and redevelopment or rehabilitation projects. Certain residential and commercial projects, which serve a public purpose, may be eligible for TRF at the discretion of the city council. 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 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. • Fulfillment of defined city objectives, such as those identified in the Strategic Plan for Economic Development • Removal of blight or the rehabilitation of a high profile or priority site. 1111 • Additional proposed public purposes deemed appropriate by the City Council. 5