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HomeMy WebLinkAbout8.c. Discussion of Project Proposal Formati s CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION PORT AUTHORITY COMMISSION MEETING DATE: APRIL 6, 1993 AGENDA ITEM: PROCEDURE FORMAT FOR PRESENTING AGENDA SECTION: PROJECT PROPOSALS TO THE CITY COUNCIL NEW BUSINESS PREPARED BY: JOHN MILLER, AGENDA0t ECONOMIC DEVELOPMENT COORDINATOR ITM# 8C ATTACHMENTS: MEMO FROM COMMISSIONER EDWARDS, APP VED BY• MEMO FROM JOHN MILLER, VARIOUS SUPPORTING DOC. i Please see attached memorandums and supporting documents. RECOMMENDED ACTION: Motion to approve the Project Plan and Budget Format and content as recommended in John Miller's memorandum (as amended) of March 31, 1993. PORT AUTHORITY ACTION: I MEMO TO: Chairperson Dunn Commissioners Anderson, Carroll, Edwards, McMenomy, Sinnwell, Wippermann FROM: John Miller, Economic Development Coordinator DATE: March 31, 1993 RE: Procedure/Format for Presenting Project Proposals to the City Council Attached please find correspondence from Commissioner Edwards suggesting the Port Authority ..develop a procedure/format for presenting project proposals to the City Council." Also attached is Section 10 of the City Council approved bylaws for the Port Authority. These require the Port Authority to submit a "project plan" and "project budget" to the council for approval with recommendations from the Planning Commission before undertaking "public activities. " I've also included a copy of "Funding Guidelines" and "Preliminary Project Proposal/Funding Application." These documents were drafted by the EDA and have been updated to reflect the existence of the Port Authority. They do, however, address issues that the council would want to see in the project plans and project budgets. And to be complete there is a copy of the request for proposal for the Repairs, Inc. site redevelopment. I certainly agree with Commissioner Edwards that the Port Authority should have a standard format for project presentation to the Planning Commission and City Council. After looking at all of the above documents, my recommendation is to submit a single document to the council titled "Project Plan and Budget for (name of project). From Mr. Edward's note it would include: • Executive Summary • Conclusion Port Authority Resolution • Council Approval/Denial Resolution and Comments Section From the Preliminary Proposal/Funding Application, I would include the following: A. The names and relevant backgrounds of individuals or companies to be involved in the project. B. Experience of individuals listed above in carrying out development projects. C. Property appraisal(s) conducted within the past 12 months. D. A statement that the project will not proceed unless the public assistance requested is obtained. 1 2 E. A statement, to the extent feasible, of the impact the project will have on the community: 1. New jobs to be created 2. Valuation to be added to the community tax base 3. Other benefits to the community F. A statement, to the extent feasible, of the traffic to be created as a result of the project: 1. Anticipated vehicle counts 2. Impact on existing traffic arteries 3. Plan for traffic flow G. A preliminary site lay -out and legal description. H. A breakdown of project space utilization; i.e., bank, office, warehouse, retail, etc. I. A timetable for construction/redevelopment, including beginning and completion, as well as assurance that all work will be completed within a specified time frame. J. A detailed construction cost breakdown for proposed project: 1. Land Acquisition 2. Site Improvements 3. General Construction 4. Leasehold Improvements K. A detailed breakdown of public assistance requested and/or necessary for the project to proceed. Mr. Edwards also made reference to how the project will proceed, management and coordination, and staffing. Good points. Here I would recommend a single additional item: • Project Completion Flow Chart In conclusion then I'm submitting to the Port Authority my recommendations to adopt a "Project Plan and Budget Format" to include the following items: A. Executive Summary B. The names and relevant backgrounds of individuals or companies to be involved in the project. C. Experience of individuals listed above in carrying out development projects. D. Property appraisal(s) conducted within the past 12 months. E. Statement that the project will not proceed unless the public assistance requested is obtained. 2 F. Statement, to the extent feasible, of the impact the project will have on the community: 1. New jobs to be created 2. Valuation to be added to the community tax base ... 3. Other benefits to the community G. Statement, to the extent feasible, of the traffic to be created as a result of the project: I Anticipated vehicle counts 2. Impact on existing traffic arteries 3. Plan for traffic flow H. Preliminary site lay -out and legal description. I. Breakdown of project space utilization; i.e., bank, office warehouse, retail, etc. J. Timetable for construction/redevelopment, including beginning and completion, as well as assurance that all work will be completed within a specified ` time frame. K. Detailed construction cost breakdown for proposed project: 1. Land Acquisition 2. Site Improvements 3. General Construction 4. Leasehold Improvements L. Detailed breakdown of public assistance requested and/or necessary for the project to proceed. M. Project Completion Flow Chart N. Conclusion - Port Authority Resolution O. Council Approval/Denial Resolution and Comments Section Obviously most of this material would be supplied by the developer with the Port Authority staff responsible for compilation and some limited material. dw 3 CITY OF ROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 1991 - 53 A RESOLUTION ESTABLISHING THE ROSEMOUNT PORT AUTHORITY A DEVELOPMENT AGENCY WHEREAS, the Minnesota State Legislature has enacted Laws of Minnesota, 1991, Chapter 291, Article 21, Section 17, authorizing the City of Rosemount to establish a port authority with the same powers as a port authority established under Minnesota Statutes,. Section 469.049, or other law, as a housing and redevelopment authority established under Minnesota Statutes, Chapter 469.047, or other law, and shall constitute an "agency" that may administer one or more municipal development districts under Section 469.110; and WHEREAS, the City of Rosemount wishes -to establish such a port authority and to define the relationship between--it-and the Council by adoption of this V resolution; and WHEREAS, it is intended that this resolution be amended from time to time as required to further define or redefine the respective roles, of the port authority and the Council regarding development and redevelopment within the City of Rosemount; and WHEREAS, it is intended that by this resolution and actions taken hereunder, the Council of the City of Rosemount shall establish broad policies for public -assisted development within the City of Rosemount and that the implementation of such policies be the responsibility of the port authority; and WHEREAS, it is the desire of the Council that adoption of this resolution and the creation of a port authority will result in a conscientious and coordinated effort to encourage and precipitate future development within the �' 1 City of Rosemount so as to increase tax base, promote employment and enhance the health, safety and welfare of City of Rosemount residents; and WHEREAS, the Council has conducted a public hearing, pursuant to.published notice, as required by Laws of Minnesota, 1991, Chapter 291, Article 21, Section 17; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. Definitions. "Authority" means the Rosemount Port Authority, a development agency. "City" means the City of Rosemount, Minnesota. "Commission" means the Rosemount Port Authority, a development agency. "Cpmmissioner means a person serving on the Rosemount Port Authority. "Council" means the duly elected governing body of the City of Rosemount. - "Enakrling fact means Laws of M-i-nnesota, 199-1; -Chapter--291, Article -.:21 Section 17, authorizing -the City of Rosemount to create a port authority. "Enabling Resolution" means this resolution of the Council establishing the Authority pursuant to the Enabl-ing Act. _ - "The Development Act" means Minnesota Statutes, Chapter 469.124 to 469.134, inclusive. "Executive Director" means the City Administrator. "The HRA Act" means Minnesota Statutes, Chapter 469.002 to 469.047, inclusive. "The Housing Bond Act" means Minnesota Statutes, Chapter 462C. "Industrial Bond Act" means Minnesota Statutes, Chapter 469.152 to 469.1651, inclusive. "Project Budget" means a financial budget containing the sources and uses of public funds to be expended in carrying out the public costs associated with 2 I a Project Plan or Project Area Plan. In the event any or all such public costs are Ito be paid with tax increment, the Project Budget shall constitute a "tax increment financing plan," as described in Section 469.175 of the Tax Increment Act. "Project Plan" means an outline for the development or redevelopment of a geographic area or single parcel which contains a statement of objectives for improvement of the area as well as a description of public facilities to be constructed, an estimated schedule of the open space to be created, the environmental controls to be applied, the property to be publicly acquired and the condition under which the Authority shall exercise the right of eminent domain, if any, the proposed reuse of private property, and the general standards of development. Said plan shall be sufficiently complete to constitute a "development_ Program pursuant to Section 469.1-25, Subdivision 3 of the Development Act and a "redevelopment plan" pursuant to Section 469.027 of the HRA Act. "ThePort, Act" -means Minn�eso`ta S-tatutes, Chapter 469.048 to 469.06$, inclusive. "Port District" means the City of Rosemount. "Tax Increment Act" means Minnesota Statutes, Section 469.174 to 469.191, inclusive. Section 2. Establishment. There is hereby created in the City of Rosemount a port authority which, subject to the provisions of this Enabling Resolution, shall have all of the powers, duties and responsibilities of any port authority created pursuant to the Port Act, or .other law, a housing and redevelopment authority created pursuant to the HRA Act, or other law and which shall constitute an "agency 3 that may administer one or more municipal development districts under Section 469.110. It`shalI be the role and responsibility of such port authority to carry out economic and industrial development and redevelopment within the City of Rosemount in accordance within such general policies as may from time to time be established by the Council. Section 3. Legal Status. The Authority shall be a public body politic and corporate and a political subdivision of the State of Minnesota. It shall not be considered a department of the City of Rosemount nor shall the City of Rosemount be liable for its obligations, unless assumed by the City of Rosemount in writing. Its relationship to the Council shall be governed by the Enabling Act, this Enabling Resolution and the various statutes under which it operates, including the Port Act, the HR -k Act, the Development Act, the Industrial Bond Act, the Housing Bond Act and the Tax Increment --Act provided that in the event there is a conflict between the terms of this Enabling Resolution and any such statute, the Enabling Resolution sh-all contro-1 and--in--the event there -is a 'conflictbetween the Port Act and any such statutes, the Port Act shall control; provided further that a statute granting authority shall not be deemed to be in conflict with a statute that grants less or no such authority. Section 4. Name. The port authority created by the Enabling Act and this Enabling Resolution shall be known legally as the Rosemount Port Authority, a development agency. Section 5. Governing Body. The powers of the Authority shall be vested in the commissioners thereof in office at any time, a majority of whom shall constitute a quorum for all purposes. Pursuant to Minnesota Statutes, Section 469.050, Subdivisions 1 and Y 4 3, such commissioners shall be seven (7) in number, shall be residents of the City of Rosemount and shall be appointed and serve as follows: Seat Number Term 1 1 year 2 2 years 3 3 years 4 4 years 5 5 years 6 6 years 7 6 years Not less than two commissioners shall also be members of the Council. Appointments shall be by the Mayor and shall be subject to the approval and consent -of the Council. A va-cancy shall be created whenever a commissioner who is a counci-1- member ends council membership, in which case such vacancy shall be filled by the mayor with the approval and consent of the Council, for the balance of the term. If a citizen -member of the Commission -becomes a -member of the Council or Mayor, a vacancy on the Commission shall be thereby created and shall be filled by the proper reappointing authority for that seat.. Section 6. Authority Staff. The commissioners of the Authority shall be empowered to hire such employees, agents and consultants as they deem proper and as further provided in the Port Act, including the appointment of an Executive Director of the Authority who shall have the following powers and duties: (1) To see that all resolutions, rules, regulations, or orders of the Authority are enforced. (2) To direct and manage the subordinate officers and regular 5 employees of the Authority. (3) To present to the Authority plans, studies, and reports prepared for Authority purposes and recommend to the commissioners for adoption such measures as defined necessary, to enforce or carry out the powers and duties of the Authority or the efficient administration of the affairs of the Authority. (4) To keep the Authority fully advised as to its financial condition, and to prepare and submit to the commissioners the annual budget and such other financial information as requested. (5) To recommend to the commissioners for adoption such rules and regulations as deemed necessary for the efficient operation of the Authority's functions._ (6) To perform such other duties as may -be prescribed by the commissioners. (7) To make necessary purchases of supplies for the operation of the Authority in art-( rdance with State and City regulations -(City Go -de). - (8) To establish and maintain a system of filing and indexfing records and reports. (9) To be responsible for the proper maintenance of all Authority property and equipment. Section 7. Authority Officers. The commissioners of the Authority shall elect officers as provided in Section 469.051 of the Port Act; provided, however, that the City Clerk shall be secretary thereto. Section 8. Reports. A. At least once annually by April 1st, the Authority shall: 6 (1) submit its Enabling Resolution modification recommendations to the Council pursuant to Section 2.of the Enabling Act. (2) appear at a regularly scheduled Council meeting and report to the Council, Mayor and members of the public regarding .the operational status of the Authority. Such report shall comply with Section 469.055, Subdivision 2(9) of the Port Act and shall include a description of current and proposed projects as well as general development goals for the City of Rosemount. B. The Authority shall be responsible for all filings and reports required by the various statutes under which it operates. Copies of all such reports shall be provided to the Council and Mayor and shall be available to members of the public unless otherwise permitted or -required by -law. Section 9. Accounting, Budgets and Fiscal Year. A. The accounting, maintenance of books and records, establishment and maintenance of funds and accounts, investment of cash surpluses, disbursement of monies and other necessary financial matters of the Authority shall be the responsibility of the City Financial Director. Direction of and control over the City Financial Director with respect to such Authority financial matters shall reside in the commissioners and the Authority Executive Director; provided, however, that Authority accounting, investment, fund maintenance and disbursement shall be consistent with City of Rosemount procedures. Any conflict between the Authority or its Executive Director and the City Financial Director with respect to the appropriate interpretation of this paragraph shall be resolved by the Council. 7 B. On or before such date of each year, as the Council may designate, the Authority shall submit its annual budget to the City Administrator in a form prescribed by the City Administrator. Such budget shall include a detailed written estimate of the amount of money that the Authority expects to need from the City of Rosemount for Authority business during the next fiscal year and shall otherwise comply with the Port Act. The Council may impose such conditions upon the issuance of obligations by the City of Rosemount for the purpose of funding said Authority budget as it may determine. The City Administrator shall submit such budget to the Council for review and approval as a part of the City of Rosemount budgetary process. The commissioners and staff of the Authority shall appear before the Council as requested to explain and discuss the content of the proposed Authority budget. Upon approval of such budget, the Authority shall not exceed total budgeted expenditures without approval of corresponding budget amendments by the Council; provided, however, that this provision shall not preclude the Authority from unilaterally making such line -item changes as it deems appropriate. C. The fiscal year of the Authority shall be the same as that of the City of Rosemount. Section 10. Powers. A. The Authority may exercise all of the powers contained in the Port Act, provided that: 1. Before establishing the boundaries of and undertaking public activities with respect to an industrial development district, as set forth in Section 469.058 of the Port Act, the Authority _{ 8 shall submit a Project Plan and Project Budget to the Council for approval. Such Project Plan shall be submitted to the Planning Commission- of the City for its review and comment regarding the consistency of said plan with the City's comprehensive plan. Consideration by the Council shall be made at a public hearing upon 10 days published notice in the official newspaper of the City of Rosemount. The Council may impose such conditions upon its approval as it determines. 2. Before undertaking public activities within the Port District, but outside an industrial development district, the Authority shall submit a Project Plan and Project Budget to the Council for approval. Such Project Plan shall be submitted to the - -- Planning Commission of the City for its. review and comment regarding the consistency of said plan with the City's comprehensive plan. Consideration by the Council shall be made at a public hearing upon 10 days published notice in the official newspaper of the City of Rosemount. The Council may impose such conditions upon its approval as it determines. 3. The Authority shall not issue obligations without the prior approval of the Council. B. The Authority may exercise all of the powers contained in the HRA Act, provided that: 1. Before establishing the boundaries of and undertaking public activities with respect to a redevelopment project, as defined in Section 469.002, Subdivision 14 of the HRA Act, the Authority shall submit a Project Plan and Project Budget to 9 the Council for approval. Such Project Plan shall constitute a "redevelopment plan" pursuant to Section 469.027 of the HRA Act and shall be submitted to the Planning Commission of the City of Rosemount for its review and comment regarding the consistency of said plan with the City's comprehensive plan. Consideration by the Council shall be made at a public hearing upon 10 days published notice in the official newspaper of the City of Rosemount. The Council may impose such conditions upon its approval as it determines. 2. Before undertaking public activities outside of a "redevelopment project", the Authority shall submit a Project Plan and Project Budget to the Council for approval. Consideration =by-the=-Gounc-i l shall be made at a public hearing upon 10 days published notice in the official newspaper of the E - City of Rosemount. The Council may impose such conditions upon its approval as it determines. 3. The Authority shall not issue obligations under the HRA Act without the prior approval of the Council. C. The Authority is hereby appointed Administrator of City of Rosemount Development Districts, numbers 1-1 previously established by the Council. 1. Pursuant to the Development Act, the Authority shall have the following powers: a To acquire property or easements through negotiation. b. To enter into operating contracts on behalf of the City of Rosemount for operation of any of the facilities j 10 authorized to be constructed under the terms of the w: Development Act. C. To lease space to private individuals or corporations within the buildings constructed under the terms of the Development Act. d. To lease or sell land and to lease or sell air rights over structures constructed under the authority of the Development Act. e. To enter into contracts for construction of the several facilities or portion thereof authorized under the Development Act. f. Certify to the Council for acquisition through eminent domain of p-roperty that cannot ,_:_..tie acqu i red by _- --- -- - negotiation_, .: but.s required far__-i_mplementation of the _. _. _ .__ - development program; _ g. Certify to the Council the amount of funds, if any,- which must be raised through sale of bonds to finance the program for industrial development districts. h. Apply for grants from the Federal Government. i. Apply for grants from other sources. D. The Authority may exercise all of the powers of a redevelopment agency contained in the Industrial Bond Act; provided, however, that obligations shall not be issued without the prior approval of the Council. E. The Authority may exercise all of the powers of a city contained in the Housing Finance Act, provided authorized to do so by ordinance 3' of the Council pursuant to Section 462C.02, Subdivision 6 of the Housing Finance Act and provided further that obligations shall not be issued without the prior approval of the Council. F. The Authority may exercise all of the powers of an authority contained in the Tax Increment Act, provided that obligations shall not be issued without the prior approval of the Council. G. The Authority may exercise such powers as may be contained in other laws applicable to port authorities or housing and redevelopment authorities not specifically described herein. Section 11. Levy. Pursuant to Section 469.053, Subdivision 4 of the Port Act, the Council may propose to levy in 1992 .01813 percent of the market value of taxable property within the City of -Rosemount for operation, and .00282 percent of the market value of the taxable property within the City of Rosemount for creating - and development of industrial development districts, which said levy shall be taken into account for purposes of the City's levy limit andtheproceeds of which shall be set aside by the City Financia -1 Director for purposes of the Authority for expenditures by it in accordance with its approved budget. In the event that the City of Rosemount levies an amount in excess of .00282 percent of the market value of the taxable property within the City of Rosemount for the creation and development of industrial development districts, the City Administrator shall prepare a separate resolution and shall publish the same, together with a notice of public hearing on said resolution for two successive weeks in the City's official newspaper. The hearing shall be held on a date specified in said resolution which is two to four weeks after the first publication. After the hearing, the Council may decide to take no action or may } 12 adopt a resolution authorizing the proposed levy or a lesser levy. A resolution authorizing such levy shall be published in the City's official newspaper.In the event that the City levies an amount in excess of .00282 percent of the market value of the taxable property within the City of Rosemount, the resolution shall not be effective if a petition requesting a referendum on said resolution is filed with the City Clerk within 30 days of publication of said resolution. The petition must be signed by voters equaling five percent of the votes cast in the City of Rosemount in the last general election. Then the resolution is only effective if approved by a majority of those voting on the question. The referendum must be held at a special or general election before October 1 of the year for which the levy increase is proposed. Section 12. Influencing Government Actions. Neither the-C-ommiss.onrers or the staff of the Authority -shall present to T Congress, the _state legislature, any federal -or state agency or any member thereof, proposals regarding the structure -and -organization of the Authority or any matter of policy affecting the City -of Rosemount generally -without the prior approval of the Council. It is the intention of this section that the Authority be prohibited from representing to these or similar governmental entitles policy positions which might be in conflict with those held by the Council and Mayor. Section 13. Amendments. The Authority shall not act inconsistently with this Enabling Resolution; provided that a determination by the Council that the limitations imposed by this resolution have been complied with by the Authority shall be conclusive. Amendments to this resolution shall be by written resolution and upon notice and hearing in accordance with Subdivision 3(b) of the Enabling Act. Section 14. Effective Date. The Rosemount Port Authority, a development agency, shall be deemed created as of January 2, 1992. 13 Adopted this 3rd day of Se t_ m�Pr 4erFrni—on.pp , m6yof .ATTEST: r-, M. Walsh ,. -/City Clerk Motion by: Wippermann Seconded by: K1 n s s P n Voted in favor: Wippermann, Napper, Oxborough, Klassen Voted against: None 14 PHONE (612) 423-4411 FAX (612) 423-5203 April 1991 Dear Applicant: fly OOSevv ou". 1 2875 - 145th Street West, Rosemount, Minnesota Mailing Address: P.O. Box 510, Rosemount, Minnesota 550680510 MAYOR Edward S. McMenomy COUNCIIMEMSERS Sheila Klassen James (Red) Staats Harry Willcox Dennis Wippermann ADMINISTRATOR - Stephan Jilk In an effort to clarify the Rosemount Port Authority's dedication to economic and residential development in the city of Rosemount, the attached FUNDING GUIDELINES and PRELIMINARY PROJECT PROPOSAL/FUNDING APPLICATION have been created. Each has been developed to assist you in compiling the project information necessary for project review and funding consideration by the Port Authority. While the Port Authority was established to aid developers and business persons with technical and financial assistance, the Port Authority does require that an indication of the developer's financial commitment to the project be included within the proposal. -Submitting the appropriate information in one concise packet will enable the Port Authority to review and assess funding requests in a more efficient manner. The purpose of these documents is not to create an additional process, but to streamline the existing consideration process for those requesting Port Authority assistance for various projects. `Completed applications w([r7b-d- ie=we i by st6f-and p�t�ced �on ie meeting agenda of the Port Authority so that all-__pr-efeE eceive-equal---c-ensideratior+- The -Pon -Authority, meets on the first and third Tuesdays of each month at 6:00 p.m. in the City Council Chambers at Rosemount City Hall. If you have any questions or concerns regarding the attached, feel free to contact the Rosemount Port Authority at (612) 423-4411. Thank you. Sincerely, -ROSEMOUNT PORT AUTHORITY Chairperson Ed Dunn Board Member Joan Anderson Board Member John Edwards Board Member Bill Mawe Board Member Ed McMenomy Board Member Don Sinwell Board Member Dennis Wippermann 6verlytkings (9oming `C/(b RosemounlY t� recvuetl pane• The City of Rosemount Porn Authority FUNDING GUIDELINES I. PURPOSE It is the purpose of this policy to establish the Rosemount Port Authority's position on providing financial assistance for proposed economic development projects and proposed housing projects. LL RECOGNITION OF NEEDS The Port Authority recognizes that it is essential to maintain the strength and vitality of its residential and economic base and to provide increased opportunities for employment, development, redevelopment and private investment, which in turn acts to strengthen the residential and economic base of the city. III. GOALS AND OBJECTIVES A. To acquire blighted areas and other real properly for the purpose of removing, preventing or reducing blight, blighting factors or the causes of blight. B. To acquire open or undeveloped land which is determined to be blighted by virtue of conditions which have prevented normal development of the land by private enterprise and have resulted in a stagnant and unproductive condition of the land. -- :_ - a - - --_- -- C. T8 -acquire -+and --or space --which is-underwused--or inappropriately used. D. To clear any acquired areas and install, construct or reconstruct streets, utilities and site improvements. E. To provide housing for persons of low and moderate income and for senior citizens. -F. To provide assistance for projects that have no other funding alternatives available. G. To provide assistance for projects that substantially increase the tax base of the city. H. To provide assistance for projects that furnish full-time equivalent employment opportunities. I. To provide assistance for projects which furnish especially needed services or demonstrate other, long term benefits to the city. J. To promote development so as to maintain a viable business district(s). K. To provide assistance in instances where development or redevelopment would not reasonably be expected to occur solely through private investment within the reasonable foreseeable future. L. To provide assistance in such a form as to use the financial investment in a project to produce revenue to fund additional projects. IV. CONSIDERATION OF DEVELOPMENT PROPOSALS The Port Authority is prepared to consider project proposals which meet the following basic criteria: A. The proposal shall be consistent with the City of Rosemount Comprehensive Guide Plan, Zoning Ordinance, Downtown Development Plan, and other existing plans and codes; and B. The development or redevelopment shall be of the type which the city would desire to have remain, expand in, or attract to the community; and C. The proposal shall include a pro forma demonstration of financial need. Staff will not begin work on the evaluation of any project proposal without said pro forma unless the Port Authority specifically directs as such. This demonstrated need will assist the Port Authority in determining its own level of financial participation in the project; and D. The developer's financial participation in and commitment to the project is required and the level of such participation by the developer shall be included within the proposal. - V. CONDITIONS- OF PROPOSAL REVIEW The Port Authority has the right to implement any or all of the following conditions, based upon project specific information submitted: A. As determined by the Port Authority, an initial financial deposit may be required with a formal application to offset city processing costs, such as review by legal counsel, bond counsel, fiscal agent, project specialist and other necessary consultants; and B. The final determination as to what kind of project or what portion(s) of a project qualifies for financial subsidization is the decision of the Port Authority; and C. The Port Authority will control the project funding schedule based upon the benefit a project has on the Rosemount community in relation to the financial assistance requested of the Port Authority. VI. APPLICATION PROCEDURES If a project deals with low/moderate income or senior citizen housing, it must be submitted to the Dakota County HRA for review, The preliminary request for financial assistance shall be made in writing to the Executive Director of the Port Authority by completing the "Preliminary Project Proposal" (see attachment). Upon submission to the Executive Director, the "Preliminary Project Proposal" shall be reviewed by staff and presented to the Port Authority with a staff recommendation. When staff brings a preliminary proposal before the Port Authority and is directed to do further research on said proposal, the following information will be requested from the applicant(s); A. The names and relevant backgrounds of individuals or companies to be involved in the project; B. Experience of individuals listed above in carrying out development projects; C. Property appraisal(s) conducted within the past 12 months; D. A statement that the project will not proceed unless the public assistance requested is obtained; E. A statement, to the extent feasible, of the impact the project will have on the community: 1. New jobs to be created 2. Valuation to be added to the community tax base 3. - Other benefits to the. community F. A statement, to the extent feasible, of the traffic to be created as a result of the project: 1. Anticipated vehicle counts 2. Impact on existing traffic arteries 3. Plan for traffic flow G. A preliminary site lay -out and legal description; H. A breakdown of project space utilization; ie. bank, office, warehouse, retail, etc.; I. A timetable for construction/redevelopment, including beginning and completion, as well as assurance that all work will be completed within a specified time frame; J. A detailed construction cost breakdown for proposed project: 1. Land Acquisition 2. Site Improvements 3. General Construction 4. Leasehold Improvements K. A detailed breakdown of public assistance requested and/or necessary for the project to proceed; L. Any other information you feel may assist the Port Authority in assessing the merits Vil. PROCESSING PROCEDURES The following procedures will be utilized in the review of proposed projects: A. "Preliminary Project Proposal" is reviewed at staff level. B. All projects will be brought before the Port Authority with a recommendation from staff. C. If the Port Authority determines that the proposed project merits further research, it will direct staff to meet with the applicant and obtain the information listed in Section V (to be considered a "Formal Application") of this document. D. Upon receipt of the "Formal Application" staff will review the information and further research project feasibility. This is based in a large part upon the financial abilities of both the applicant and the Port Authority to enter into such a project. E. following Port Authority staff review of the "Formal Application", all project proposals will be brought -before the Port Authority with a staff recommendation. F. Upon recommendation by the Port Authority, staff will work with the applicant to negotiate any and all agreements / contracts necessary for the development of the project in a manner which will be beneficial to all parties involved and to the Rosemount community as a whole. VIII. DISCLAIMER The Rosemount Port Authority reserves the right to deny any project proposal requesting assistance and to terminate processing of same at any stage prior to funding for just cause as determined by the Rosemount Port Authority Commissioners. Those submitting a project proposal shall hold harmless the Rosemount Port Authority, its officers, employees, legal counsel, and consultants in conjunction with the development of a proposed project. The Rosemount Port Authority reserves the right to waive or modify any of the requirements in this policy subject to action by the Board of Commissioners and findings related to same. PRELIMINARY PROJECT PROPOSAL / FUNDING APPLICATION TO THE ROSEMOUNT PORT AUTHORITY Please list all principals involved in the development of the proposed project: Contact Person: Address: Telephone Number: _ PLEASE ADDRESS THE FOLLOWING AS -ACCURATELY AND COMPLETELY AS POSSIBLE ON ADDITIONAL SHEETS OF PAPER: - 1. DESCRIBE THE DEVELOPMENT EXPERIENCE OF THE PERSONS LISTED ABOVE AND NOTE ANY PROJECTS ON WHICH THOSE PERSONS HAVE WORKED WITH THE CITY OF ROSEMOUNT. 2. DESCRIBE THE PROJECT FOR WHICH FINANCIAL ASSISTANCE IS BEING REQUESTED. 3. EXPLAIN WHY THE DEVELOPER(S) WISHES TO LOCATE THE PROJECT IN ROSEMOUNT. 4. NOTE THE BUILDING/SITE SIZE REQUIRED TO DEVELOP THE PROJECT. 5. EXPLAIN, IF FEASIBLE, HOW ANY EXISTING BUILDING MAY BE ADAPTED FOR THE DEVELOPMENT OF THE PROJECT. 6. DESCRIBE THE NUMBER OF FULL-TIME EQUIVALENT JOBS THAT WOULD RESULT FROM DEVELOPMENT OF THE PROJECT. 7. IDENTIFY ANY SPECIAL NEEDS REQUIRED TO INSURE PROJECT DEVELOPMENT (rail access, semi -truck access, highway access, river access, City sewer, City water, high visibility, special permits/licenses, specific location, outside storage, etc.) 8. EXPLAIN THE ASSISTANCE NEEDED FROM THE PORT AUTHORITY TO ALLOW FOR DEVELOPMENT OF THE PROJECT.