Every applicant shall, as part of his application for development,
demonstrate to the reviewing board the economic and market viability
of his project. The reviewing board shall determine that the proposed
use will be economically sound and has a reasonable potential for
economic success. In reaching this conclusion, the Board shall determine
the market demand for the proposed use, the existence of competition
in the area where the proposed use will compete and the potential
for success in this area. The applicant is required to demonstrate
the market feasibility and to indicate the effect which the applicant's
proposal will have on the market in order that a properly balanced
community, free from empty and unusable construction, can be achieved.
Each applicant shall demonstrate the nature of the development
which is proposed, its purpose and its size.
Each applicant shall analyze and present evidence concerning
the local and regional context of the proposed site and the effect
which the proposed development will have on the local and regional
market for the proposed use involved.
Each applicant shall discuss in his application or in his presentation
before the reviewing board the market demand for his project, how
said demand was determined and what effect construction of the development
will have on market demand in the surrounding areas. Each applicant
is required to demonstrate in a fashion indicated by this section
a reasonable market feasibility for the proposal.
The applicant shall present proof of ownership of the tract
involved with the application or his rights to proceed with the application
presented. Further, the applicant shall disclose all rights possessed
by the applicant to develop adjacent or surrounding property in order
to determine the long range development potential of not only the
site in question but also the adjacent and surrounding area.
Each applicant shall present proof sufficient to demonstrate
the factors which support the site's ability to feasibly compete in
the market for residential, commercial or industrial development.
Each applicant shall present proof of the projected numbers,
type, floor area and price of dwelling units or commercial and industrial
areas to be developed on the site and the time sequence for construction
of these items in order to determine with reasonably probability the
sequence of development for the proposed tract.
Each applicant shall produce proof sufficient to determine,
through the determination of rent and sales price levels, the income
levels of the market to which the proposed development is directed.
Recognizing that commercial and industrial proposals will also have
an effect on the demand for residential housing, this item shall also
be discussed by all potential commercial and industrial developers.
Each applicant shall present proof of the effect which the proposed
development will have on the regional needs for the type of facility
proposed. The regional needs may be determined by analyzing the market
for the proposed use, and the geographic area defined as the market.
Each applicant shall in detail present proof concerning needed
community facilities which will reasonably be required to service
the needs of the proposed development. In this regard, the applicant
shall discuss the needs for public utilities, police protection, fire
protection, recreational facilities, school facilities, and other
services currently or reasonably expected to be provided by governmental
sources.
Each applicant shall discuss and show evidence concerning the
effect on which critical market variables on market projections and
the range within which the project's economic variables can vary and
still be an economically viable project.
Each applicant shall discuss in detail other types of development
which are likely to be encouraged to locate within the community in
general and the area of the proposed development in specific as a
result of the proposed development by the applicant.
Each applicant shall discuss the economic benefits which are
forecast as a consequence of the project including a discussion of
employment opportunities, discussing the numbers and types of jobs
which will be created as a result of the proposal and the effect which
the proposed development will have for the tax structure of the community.
Each applicant shall demonstrate through discussion of the above
items an economic viability proposal which will not detrimentally
affect the community in general.