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shall take action on the project as required under the Tax Incre <br />statutes <br /> <br />10. <br />11. The City Council grants final approval or denial of the request. <br />X. <br />SIGNATURE <br /> <br />I certify that __________________________(legal business name)is defined as a Small <br />Business, For-Profit and is not a religious, Political, Casino, Sports Facilit <br />Enterprise. I further certify that all information provided in t <br />correct to the best of my knowledge. I authorize the city of Elk River and the Finance <br />Committee to check credit references and verify financial and ot <br />agree, if approved, to the loan security and guarantees required <br />agree to provide any additional information as may be requested by the city. <br /> <br />Agreement to Pay Costs of Review <br />It is the policy of the city of Elk River to require applicants <br />in reviewing and acting upon applications, so that these costsare not borne by the taxpayers <br />of the city. These costs include all of the citys out-of-pocket costs for expenses, including <br />the citys costs for review of the application by the citys Fin <br />Attorney, or other consultants, recording fees, and necessary publication costs. <br />The application deposit covers anticipated costs; costs incurred <br />deposit will be invoiced as incurred, and payment will be due wi <br />Application deposit is not refundable, though any unused portion is returned to the <br />applicant. If payment is not received as required by this agreem <br />application review process and may deny the application for fail <br />requirements for processing the application. Payment for costs will be required whether <br />application is granted or denied. <br />The undersigned has received the citys policy regarding the pay <br />understands that reimbursement to the city of costs incurred in reviewing the application will <br />be required, agrees to reimburse the city as required in the pol <br />billed by the city, and agrees that the application may be denie <br />city for costs as provided in the policy. <br />Note:All owners with ownership interests greater than 20% will be req <br />personal guarantees and a minimum assessment agreement if up fro <br />project is required. <br /> <br />APPLICANT SIGNATURE: <br />TITLE: DATE: <br />City of Elk River Tax Increment Financing Policy & Application <br />Amended March 2017 <br />Page 10 of 22 <br />498942v2 JSB EL185-13 <br />