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POLICY fOR PROCESSING REQ~ FOR FINANCIAL <br /> ASSISTAN~ IN ~HE TAX IN{I~EMENT FINANCING <br /> DEVELOPMENT DIS~RIC~ <br /> <br />Section 1. City Staff receives the request (see attached sheet <br />for information necessary with application) from the developer <br />and reviews it with respect to the following matters. <br /> <br /> A. Information regarding a ocmplete description of the <br /> project including location and type of develol~rent, <br /> total project cost, and total full-thre, permanent <br /> e~plolarent created, if applicable. <br /> <br />B. Information regarding description of request, including <br /> timetable, and any specifications and cost estflrates. <br /> <br />Refer to City's fiscal consultant for their review for <br />financial feasibility. If request is financially feasible, <br />fiscal consultants may recomFend/suggest possible <br />structure(s) for financing request. <br /> <br />Refer to City's bond counsel for review as to legal <br />feasibility. If request is legally feasible, bond <br />counsel will determine whether tax increment doc~ents <br />need to be ~dified and/or public hearing process is <br />necessary. (If hearing is necessary, City Staff will <br />notify developer of additional time involved.) <br /> <br />If request is legally and financially feasible, Staff will <br />forward its findings and those of bond counsel and fiscal <br />consultant to Planning and Zoning and Economic Development <br />Cim~issions for their review and reconurendations. <br /> <br />Section 2. The Planning and Zoning Cimurission reviews the request <br />with respect to the following matters: <br /> <br />A. Is the request consistent with the City's Carprehensive <br /> Plan? <br /> <br />B. Is the request appropriate under the City's Zoning O3de? <br /> <br />Section 3. The Economic Development Commission reviews the <br />request with respect to the following matters: <br /> <br />A. Will the request lead to an increase of full-ti/re <br /> penranent e~plo~t opportunities in the City? <br /> <br />B. Will the request allow the expansion/retention of <br /> a local business7 <br /> <br /> <br />