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.