HomeMy WebLinkAbout42. Update to TIF Application Scoring SheetTO: Honorable Mayor & Members of the Common Council
FROM: Allen Davis, Community Development Director
DATE: December 8, 2016
RE: Updated Tax Increment Financing Application Scoring Sheets
At City Council's direction, staff has drafted an update to the Tax Incremental Financing (TIF)
score sheet based on the Council's request to create two separate scoring sheets: one for Economic
Development projects (Industrial and Business Park) and one for Redevelopment/blight
elimination projects. Both draft scoring sheets are attached.
Both score sheets total 100 points and projects must score greater than 50 points or a Council
waiver is required to move forward with the TIF application. Each criteria is still a maximum
point total, and the project can score less than the maximum based on the project's ability to meet
the criteria.
Economic Development project scoring criteria are weighted towards projects that create jobs,
with up to 40 points possible based on proposed employment potential, based on 5 different
criteria. Projects of this nature are Industrial/Business Parks, the Oshkosh Corporation E -coat
plant expansion project, and the Bemis Healthcare expansion project.
Redevelopment and blight elimination project scoring criteria are weighted towards projects that
have extraordinary redevelopment costs or provide direct benefit to an area based on blight
elimination. Projects of this nature are like the Marion Road Redevelopment District, the
Bestwestern Hotel (City Center) renovation, and the Beach building renovation.
Staff is seeking City Council direction and input at this time. Staff will plan to use this internally
until City Council approves an update. Staff will share our analysis and scoring with the City
Council and staff will be placing this item on a future City Council Agenda for adoption in early
2017.
Respectfully Submitted, Approved,
,)* A-4— �
Allen Davis Mark Rohloff
Community Development Director City Manager
Tax Incremental Financing Criteria Score Sheet D d
Industrial and Business Park Development
Criteria
Maximum Points
Score
1. Attracting, retaining or expanding businesses for
20
purpose of improving the City's economic base.
2. Project involving development that is targeted to
encourage an inflow of customers from outside the
city that results in exported goods, or that provide
5
services or fill markets that are currently unavailable
or underserved in the City.
3. Presence of extraordinary
development/redevelopment costs such as:
a. Remodeling/Rehabilitation/Demolition
b. Environmental Remediation
20
c. Capital purchases
d. Facility expansion
e. Public Infrastructure
4. Proposes employment potential.
40 Total
a. Number of new or retained employees. (10
a. 10
a.
points)
b. Skill and education levels required forjobs. (5
b. 5
b.
points)
c. Range of salary and compensation rates for the
c. 10
C.
jobs as compared with the median income level
for the community. (10 points)
d. 10
d.
d. Cost of public assistance per job. (10 points)
e. Potential for executive relocation. (5)
e. 5
e.
5. Projects that directly implement specific
recommendations of the City's strategic planning
10
documents such as the Comprehensive Plan,
Downtown Action Plan
6. Environmental sustainability impacts such as higher
standards of building and site design, materials and
energy efficiency.
a. LEED certification, Energy Star, etc
5
b. Use of Green Infrastructure
c. Solar and Wind energy production
Point Total must be greater than 50 points or Council
waiver is required
100
Tax Incremental Financing Criteria Score Sheet IDM
Redevelopment/Blight Elimination
Criteria
Maximum Points
Score
1. Presence of extraordinary development/redevelopment costs
such as:
a. Remodeling/Rehabilitation/Demolition
b. Environmental Remediation
25
c. Capital purchases
d. Facility expansion
e. Public Infrastructure
2. Project provides direct benefit to distressed areas through
25
blight elimination or redevelopment.
3. Projects that directly implement specific recommendations of
the City's strategic planning documents such as the
10
Comprehensive Plan, Downtown Action Plan, Riverwalk Plan,
Vision Report, etc.
4. Historic Preservation or rehabilitation of a nationally or
15
locally significant historic structure.
5. Quality of development and overall aesthetics (architectural,
site design, landscaping, etc) beyond that which is minimally
5
required by the Zoning Ordinance.
6. Environmental sustainability impacts such as higher
standards of building and site design, materials and energy
efficiency.
5
a. LEED certification, Energy Star, etc
b. Use of Green Infrastructure
c. Solar and Wind energy production
7. Enhance the streetscape and pedestrian experience.
5
8. Proposed employment potential.
5
9. Projects that involve development that is targeted to
encourage an inflow of customers from outside the city or
5
that provides services or fill underserved markets in the City.
Point Total must be greater than 50 points or Council waiver is
100
required