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<br />'1'c): Individuals Interested in the City's Policy Relative <br />to Tax Ext:mpt Financing Approvals. <br />~. <br />Ft<Uht: ~~nnis S. 'Lylla, City Manager <br />DA`I'>•:: ~u~:~~~mber 27, 1979 <br />Ens' lased is tesolution 82168 which establishes industrial/ <br />con,,:~~~rcial devzlopment revenue bond and tax exempt mortgage <br />fir;<in~ my policies for t~1e City of New Brighton. Also <br />i~;~ lu~3u~1 is an application form for both financing methods. <br />Any applicant should be able to support that his project <br />m~:ets one or more of the guidalinc:s identified as 1 through <br />5 un pa,3t5 1 and 2 of Resolution # 2168. <br />An .ipl~l i~.itct 5u~kiny industrial revenue bonds must also be <br />pr~par~~~i t~ provide the flilallLlal infonriatlon specified on <br />pa~]~:s ' and 3 of the Resolution. 'this includes payment <br />~t a ~ ', 5~)0 deposit. An applicant interested in a tax <br />cx~mpt n;<~rt~~aye, in lieu of industrial revr:nue bonds, is <br />rc~ctuir~~ t~~ unl.y present the in Formation contained c,n <br />payer -3 ut the resolution. HUW~VCr, the yuide.linesfrom <br />t~.iyc:5 1 sn,j 2 must still be mgt for the City to consider <br />an}' pt n1,c.~3a 1 . <br />'1'lr~ tc~l lowing prooudure 5hd11 be utilized by .art applicant <br />r,i ut>proa~•t;ing thu City Counci 1 for the required tax exempt <br />rit~ur;~iny apprvv:ils necessary to facilitate any project. <br />1. An .~pp]icant meets with the City Manager tp r~vlew <br />the proposuri project in order to determine the <br />r~asibility bE proceeriiny to the City Council. for <br />~~ t in~i i ny by the Council as to the acccpt.ibi 11 ty of <br />tti~ pro j~ct for a tax ex~:n;pt inortyaye or industrial <br />r~vunuu bonds. <br />1. 1 t thc: applic:.int decides to proceed to ttte City <br />~'vuncil, the applicant completes the City's tax <br />~x~mpt application form and submits it to the City <br />M,~ n.t y o r . <br />3. 'i'ht City M~rrta~3er schedules the applicant for a <br />c'i t.y t'oun~ i. 1 agenda and provides the City Council with <br />s~tt~t~ui tiny concept discussion information. The applicant <br />i5 n~titi~d of the datE :end time that the City Council <br />will con5i~ier the applicant's request. <br />.~, At .~ ~c~uncil meeting, thu City Council will make a <br />t,r~liminary tindinc~ as to the probable acceptability~• <br />~,r the pruj~ct for tax ~xc:mpt financing. This preliminary <br />