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E. Open Space to be Created <br /> <br /> Any open space within the Development District will be created in accordance <br />with the development controls of the City. <br /> <br />F. Public Facilities to be Constructed <br /> <br /> Public facilities constructed within the Development District will be <br />financially feasible and compatible with the City's long range development plans. <br />Public improvements constructed or proposed within Development District No. 1 <br />include ponding for storm water management, soil correction, landscaping, fencing, <br />security lighting, site grading, streets, a well, a water storage facility and extension of <br />water and sanitary sewer to an area designated for industrial use and to an area <br />designated for residential use in the Comprehensive Plan. The City will fund site <br />improvements for a multifamily housing project in the Oxbow Addition within TIF <br />District No. 1 and for an office/industrial facility within TIF District No. 2. The City <br />will also construct sanitary sewer and water utilities to serve TIF District No. 5 <br /> <br />G. Proposed Reuse of Property <br /> <br /> The Development Program contemplates the acquisition of private property <br />within Development District No. 1 for a multifamily housing project in the Oxbow <br />Addition. Proposals for the use of property acquired by the City must be consistent <br />with Development Program objectives and financially feasible. Prior to acquisition of <br />any property for reuse by a private developer, the City Council will require a <br />development contract and other guarantees to ensure that sufficient tax increment or <br />other funds will be available to repay the cost associated with the proposed acquisition. <br />It is the intent of the City to negotiate for the acquisition of property whenever <br />possible, but the City will use its powers of eminent domain to acquire property if <br />required. Appropriate restrictions regarding the reuse and redevelopment of property <br />shall be incorporated into any development contract to which the City is a party. <br /> <br />H. Development District Financing <br /> <br /> Within Development District No. 1, the City has created three TIF Districts. <br />Concurrent with this modification of the Development District Program, the City is <br />creating a fourth TIF District (No. 5), and may create additional TIF Districts to <br />finance development activities. Water and sewer, water tower and well costs which <br />have been or will be incurred in TIF District No. 2, as well as the cost of site <br />improvements within TIF District No. 2, will be paid through the pledge of tax <br />increment from TIF District Nos. 1 and 2. In addition, users will be charged for <br />connecting to the system and will pay usual fees and charges associated with use of the <br />system. Site improvements in TIF District No. 1 will be paid through tax increment <br />and, in the case of Flintwood Hills, through special assessments. Public improvement <br />costs within TIF District No. 4 and TIF District No. 5 will be paid through tax <br />increment and special assessments. <br /> <br />Relocation. <br /> <br />The City anticipates that no relocation will be necessary but accepts its <br /> <br /> <br />