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I <br />I <br /> <br /> I <br /> I <br /> I <br /> I <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 /> <br />o <br /> <br />WHAT HAPPENS IF ECONOMIC DEVELOPMENT DOESN'T OCCUR? <br /> <br /> a. Without development, cost of government service will rise <br /> <br /> l. Better service demands from public works, parks and police <br /> Z. Additional demand for enforcement of existing ordinances <br /> b. Limited local employment <br /> c. High residential taxes <br /> d. Reduced/stagnated home values <br /> e. Level of government service below what is expected <br /> <br />WHAT IS CITY'S RESPONSIBILITY TO ECONOMIC DEVELOPMENT? <br /> <br /> a. Provide financial assistance <br /> <br /> 1. Local development corporation <br /> <br /> Z. Tax increment <br /> <br /> 3. Industrial revenue bond <br /> 4. Grant assistance <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 a_nd recommend alternative financing <br /> options <br /> <br /> --Federal, State and private gra~ts <br /> <br /> --Prepare tax increment financing plan when needed <br /> <br /> --Develop financing packages <br /> <br /> --Develop strong working relationship with key 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 />