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6. Removes blight and/or encourages redevelopment of commercial and industrial areas resulting in <br /> high quality redevelopment and private reinvestment. <br /> 7. Offsets redevelopment costs (i.e. contaminated site cleanup) over and above the costs normally <br /> incurred in development. <br /> 7. <br /> 8. Aids the implementation of the Economic Development Strategic PlanMi.rsissippi Connections Plan. <br /> Policy Statements <br /> 1. The primary intent of TIF is direct funding for public improvements and secondarily for developer <br /> assistance. <br /> 1. <br /> 2. <br /> 3.2.The use of TIF shall be in accordance with state law,which changes frequently. The more <br /> restrictive language will apply when a conflict exists between this policy and state law. <br /> 4.3.Projects must be consistent with the Comprehensive Plan and/or the Mississippi Connections Plan. <br /> 5.4.Projects must be consistent with the Strategic Plan for Economic Development and/or the most <br /> recent Housing Study. <br /> 6.5.Preferred projects promote the completion of major public improvement projects within the city <br /> such as the installation of trunk sewer and water lines and major transportation projects. <br /> 7.6.The level of assistance provided will be determined on a case-by-case basis as referenced in Policy <br /> ConsiderationsPublic Purpose. <br /> Based on the extent to which the project achieves the policy statements (1-6 above),the city will consider <br /> TIF for projects falling in the following categories:. <br /> • Manufacturing <br /> • Major office warehouse/production facilities <br /> • Research and development <br /> • Commercial projects encouraging substantial redevelopment of substandard properties <br /> • Housing needs identified in the most recent city housing study <br /> 8.1.Assistance for TIF is required to meet the uses identified by statute including,but not limited to the <br /> following: <br /> • Public improvements <br /> • Land acquisition and land write down <br /> • Loans <br /> • Site preparation and improvement <br /> ■ Demolition <br /> ■ Legal,administration, and engineering <br /> 9.2.The preferred method of TIF is pay-as-you-go for eligible costs as reimbursement,upfront financing <br /> maybe considered on a case-by-case basis.IF receipts shall be allocated as pay-as-you-go method. <br /> 10.3. A maximum of ten percent(10%) of any tax increment received from the district shall be <br /> retained by the city to reimburse administrative costs. (Statutory Reference) <br /> Page 2 of 8 <br />