7.1. EDSR 06-15-2020 - Laserfiche WebLink

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Policy 2003-01 Tax Rebate Policy Page 3 of 10 f. The developer shall adequately demonstrate, to the City's sole satisfaction, an ability to complete the proposed project based on past development experience, general reputation, and credit history, among other factors, including the size and scope of the proposed project. g. 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. h. TRF proposals shall not be used to support speculative office projects. Speculative projects are defined as those projects that have pre-leasing agreements or letters of intent for less than 50% of the available space. In addition, leasable office projects must meet the following guidelines: 1. Evidence of the 50% occupancy must be reported to the Community Development Director six months following an issued certificate of occupancy. 2. 50% of the jobs within the leasable office building space must be considered "new" jobs to the City of Anoka, meaning jobs not located in the City at any time prior to occupying space in the project. 3. Business retention jobs will be considered on a one-for-one match to job creation only in cases where job loss is specific and demonstrable in accordance with the MN Business Subsidy Law. Evidence may include documentation that the company will have to close involuntarily, or the company has received an attractive offer to move to another state or community. i. All TRF proposals shall optimize the private development potential of a site. V. PROJECT QUALIFICATIONS All TRF projects considered by the City of Anoka must meet each of the following requirements: a. The project shall meet at least one of the objectives set forth in Section III of this document. b. The use of TRF will be limited to: • Industrial development, expansion, redevelopment, or rehabilitation; or • Commercial redevelopment or rehabilitation; or