[Ord. No. 2144 §1, 2-15-2000]
It is the policy of the City to consider the use of tax increment
financing for those projects which demonstrate a substantial and significant
public benefit by eliminating blight, financing desirable public improvements,
strengthening the employment and economic base of the City and other
taxing jurisdictions, increasing property values, reducing poverty,
creating economic stability, upgrading older neighborhoods and area,
and facilitating economic self-sufficiency.
[Ord. No. 2144 §2, 2-15-2000]
A.
The
City hereby adopts the following procedures for bids and proposals
for the implementation of redevelopment projects:
1.
The City shall solicit proposals with respect to the implementation
of each proposed redevelopment project.
2.
Each request for proposal shall state the primary objectives of the
proposed redevelopment area or redevelopment project.
3.
Each request for proposal shall provide a reasonable opportunity
for any person to submit alternative proposals or bids.
4.
Each request for proposal shall be mailed to those persons or firms
which the City determines might be interested in submitting a bid,
and shall be published in a newspaper of general circulation in the
City. Each request for proposal shall provide at least thirty (30)
days for the submission of a proposal.
5.
Each proposal must demonstrate that "but for" the use of tax increment
financing, the project is not feasible.
6.
Criteria for the selection of proposals for redevelopment projects
will include, but not be limited to:
a.
The impact of the proposed project on the City and other taxing jurisdictions;
b.
The proposed cost of the project;
c.
The amount of tax increment financing requested;
d.
The term over which tax increment financing is projected to be utilized;
e.
The extent to which the applicant controls the properties within
the area which is the subject of their proposal;
f.
The proposed plan for relocation of existing owners and tenants;
g.
The effect on adjacent properties and surrounding areas;
h.
The financial resources available to the applicant;
i.
The applicant's familiarity and experience in completing projects
of the type proposed; and
j.
Such additional criteria as the City deems appropriate for the selection
of bids and proposals and which are more particularly set forth in
the request for proposal.
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Notwithstanding anything contained herein to the contrary, the
City reserves the right to reject any and all redevelopment projects,
even those which satisfy all the foregoing criteria for any reason
whatsoever. Furthermore, the City reserves the right to waive any
non-conformance to the foregoing policies and approve, subject to
compliance with the Act, any project the Board of Aldermen deems favorable
to the City.
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[Ord. No. 2144 §3, 2-15-2000]
The foregoing policies and procedures have been adopted pursuant
to Section 99.820.1 of the Act.
