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! <br />! <br />! <br /> <br />~6. WHAT HAPPENS IF ECONOMIC DEVELOPMENT DOESN'T OCCUR? <br />i a,J Without development, cost of government service will rise <br /> <br />1. Better service demands from public works, parks and police <br />Z. Additional demand for enforcement of existing ordinances <br /> <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />5 <br /> <br /> b~ Limited local employment <br /> <br /> c; High residential taxes <br /> <br /> d~- Reduced/stagnated home values <br /> <br /> e.[ Level of government service below what is expected <br /> <br />WH^¢ IS ci,¥'s RESPONSm..Ir¥ 'to ECONOMIC <br /> <br /> : a~ Provide financial assistance <br /> <br />1. Local development corporation <br /> <br />Z. Tax increment <br /> <br />3. Industrial revenue bond <br /> <br />4. Grant assistance <br /> <br />5. City participation <br /> <br />6. General obligation bonds <br /> <br />b Provide technical assistance <br /> <br /> 1. Community development person <br /> <br />a. Solicit commercial/industrial development <br /> <br />b. Provide direction for local development corporation <br /> <br />c. Develop finance and recommend alternative financing <br /> options <br /> <br />--Federal, State and private grants <br /> <br />--prepare tax increment financing plan when needed <br /> <br />--Develop financing packages <br /> <br />--Develop strong working relationship with key <br /> legislative staff \ <br /> <br />--Develop strong working relationship with all government <br /> agencies <br /> <br />--Develop a standard operating procedure project evaluation <br /> <br />Page <br /> <br /> <br />