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Policy 2003-01 Tax Rebate Policy Page 4 of 10 <br /> <br />• Research and development facilities that satisfy Anoka <br />Enterprise Park zoning requirements; or <br /> <br />• Office facilities with a minimum new construction of 25, <br />000 square feet and minimum market value of $1,000,000 <br />upon project completion; or <br />• Residential development, redevelopment, or rehabilitation <br />upon recommendation of the HRA. <br />• Historic properties preservation, conservation, or <br />rehabilitation. <br /> <br />c. The developer shall demonstrate that the project is not financially feasible but <br />for the use of TRF. Evaluation of the project's financial feasibility without <br />TRF shall be provided by the City's financial advisor on requests of over <br />$25,000 total. <br /> <br />d. The project shall comply with all provisions set forth in the state's Tax <br />Abatement Law, statues 469.1812 to 469.1815, as amended. <br /> <br />e. The project must be consistent with the City's Comprehensive Plan, Land <br />Use Plan, and Zoning Ordinances. <br /> <br />f. The project shall serve at least two of the following public purposes: <br /> <br />• Job creation or job retention. <br />• Increase of tax base. <br />• Enhancement or diversification of the city's economic base. <br />• Development or redevelopment that will spur additional private <br />investment in the area. <br />• Fulfillment of defined city objectives, such as those identified in the <br />Economic Development Plan or the City's Comprehensive Plan, among <br />others. <br />• Removal of blight or the rehabilitation of a high profile or priority site. <br /> <br />VI. SUBSIDY AGREEMENT & REPORTING REQUIRMENTS. <br /> <br />All developers/businesses receiving Tax Rebate Financing assistance from the City of <br />Anoka shall be subject to the provisions and requirements set forth by the City's Business <br />Subsidy Criteria as adopted, and State Statute 116J.993 as summarized below. <br /> <br />All developers/businesses receiving TRF assistance shall enter into a Subsidy Agreement <br />with the City of Anoka that identifies: the reason for the subsidy, the public purpose served <br />by the subsidy, and the goals for the subsidy, as well as other subsidy agreement criteria set <br />forth by Statute 116J.993.