9.1 HRSR 05-01-2017 - Laserfiche WebLink

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and Statutes 469.174 to 469.1794, inclusive, as amended. e. The project must be consistent with the city's Comprehensive Plan, Land Use Plan, and Zoning Ordinances. f. A Non - Housing project shall serve at least two of the following public purposes: • Creation of jobs with livable wages and benefits. • Significantly increase the city's tax base. • Enhancement or diversification of the city's economic base. • Industrial development that will spur additional private investment in the area. • Fulfillment of defined city objectives such as those identified in the city's Comprehensive Plan and the city's Economic Development Strategic Plan, among others. • Removal of blight or the rehabilitation of a high profile or priority site g. A Housing Project shall serve at least two of the following public purposes: • Enhancement or diversification of the city's housing stock. Development that will spur additional private investment in the area. Fulfillment of defined city objectives such as those identified in the city's Comprehensive Plan and the city's Housing and Redevelopment Strategic Plan, among others. Removal of blight or the rehabilitation of a high profile or priority site. VII. SUBSIDY AGREEMENT & REPORTING REQUIRMENTS All developers /businesses receiving Tax Increment Financing assistance from the city of Elk River shall be subject to the provisions and requirements set forth by the city's Business Subsidy Policy as amended and Minnesota Statutes Sections 116J.993 to 116J.995 (the "Minnesota Business Subsidy Law "), if applicable. VIII. PUBLIC INFORMATION NOTICE Generally, correspondence to and from Staff is considered public information. Specific data related to a financial assistance request is deemed not public: (e.g.) Financial Information, Financial Statements, Net worth Calculations, Business Plans, Income and Expense projections, Balance Sheets, Customer Lists, Income Tax returns. When public financial assistance is received, only the following remains not public: Business Plans, Income and Expense projections, Customer lists, Income tax returns, design, market, and feasibility studies not paid for with public funds. The city allows an applicant to submit sensitive financial information directly to the city's financial consultant, for additional security. City of Elk River Tax Increment Financing Policy & Application P 0 N E B E 0 B T Amended March 2017 Page 7 of 22 11`41ATUREJ