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City of , Minnesota <br /> h. Business assistance shall not be provided for projects that would place <br /> extraordinary demands on city services or for projects that would generate <br /> significant environmental impacts. <br /> i. The developer must provide adequate financial guarantees to ensure <br /> completion of the project, including, but not limited to: assessment <br /> agreements, letters of credit, personal guaranties, etc. <br /> j. The developer shall adequately demonstrate, to the City's sole satisfaction, an <br /> ability to complete the proposed project based on past development <br /> experience, general reputation, and credit history, among other factors, <br /> including the size and scope of the proposed project. <br /> k. For the purposes of underwriting the proposal, the developer shall provide any <br /> requested market, financial, environmental, or other data requested by the <br /> City or its consultants. <br /> D. PROJECT QUALIFICATIONS <br /> All projects considered by the City of must meet all of the following <br /> requirements: <br /> a. The project shall meet at least one of the objectives set forth in Section II and <br /> satisfy all the provisions set forth in Section III of this document. <br /> b. The developer shall demonstrate that the project is not financially feasible but <br /> for the use of tax abatement. <br /> c. The project must be consistent with the City's Comprehensive Plan, Land Use <br /> Plan, and Zoning Ordinances. <br /> d. The project shall serve at least two of the following public purposes: <br /> • Creation of jobs with livable wages and benefits, per City's Business <br /> Subsidy Policy. <br /> • Increase of tax base. <br /> • Enhancement or diversification of the city's economic base. <br /> • Industrial development that will spur additional private investment in <br /> the area. <br /> • The project contributes to the fulfillment of the City's development or <br /> redevelopment objectives. <br /> • Removal of blight or the rehabilitation of a high profile or priority <br /> downtown site. <br /> e. That the project will comply with all provisions set forth in Minnesota Statute <br /> chapters 116j.993 through 116j.995, as amendment(Business Subsidies). <br /> f. That the business assistance request complies with all provisions set forth in <br /> Minnesota Statutes chapters 469.1812 through 469.1815, as amended. <br /> Page 5 <br />