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bakertitl <br />y <br />now, toi tamer -Ow. <br />City of Elk River TIF Policy Considerations <br />• Each project is required to meet the "but -for" test to <br />determine the need for and level of assistance <br />• Developers receiving TIF assistance shall provide a minimum <br />of ten percent (10%) cash equity investment in the project. <br />TIF will not be used to supplant cash equity <br />• TIF will not be used in circumstances where land and/or <br />property price is in excess of fair market value. A third -party <br />appraiser agreed upon by the city and developer will <br />determine the fair market value of the land <br />