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TO: <br /> <br />Mayor and ~ouncilmembers and Economic Development Commissionmembers <br /> <br />FROM: City staff <br /> <br />RE: Meeting business <br /> <br />CASE #1: <br /> <br />AS, SjI~, TA! <br /> <br />AND PROCESS FOR HANDLING REQUESTS FOR FINANCIAL <br /> <br />~CE IN THE DEVELOPMENT DISTRICT: <br /> <br />As City Council discussed, City Staff has drafted a possible process for <br />revi~win~ requests from developers for financial assistance on projects <br />withiJn th~ Tax Increment project area. <br /> <br />City !'Staff receives the request from the developer and reviews it with respect <br />to the fol. lowing matters: <br /> <br />1) Information regarding a complete description of the total project including <br /> 10'cation and type of development, total project cost and total full-time, <br /> =p&rm.anent employment created, if applicable. <br /> <br />2) InforlPation regarding description of request, including timetable, <br /> .specifications and cost estimates. <br /> <br />3) Fiinar~cial feasibility through review with City's fiscal consultants. If <br /> the request appears to be financially feasible, the fiscal consultants may <br /> r~commend/suggest possible structure(s) for financing request. <br /> <br />4) Legai feasibility through review by City's bond counsel. If request is legally <br /> f~asii~le, bond counsel will determine whether documents need to be <br /> modified and/or hearing process is.necessary. <br /> <br />If th~ request is legally and financially feasible, Staff will forward its findings <br />(inclPdin~ those of bond counsel and fiscal consultants) to the Planning and <br />Zonii~g ;and Economic Development Commissions for their review and <br />recommendation. <br /> <br />The Plaoning and Zoning Commission should review the request with respect <br />to its concerns: <br /> <br />1) Does' the request allow for the highest and best use of land in that area <br /> and i~ the request consistent with the City's Comprehensive Plan? <br /> <br />2) Is the proposed development appropriate under the City's Zoning Code? <br />3) Is the request for a type of development that the City needs? <br /> <br />4) Are 1here alternative sites that would be better suited to the proposed <br /> development? <br /> <br /> <br />