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REDEVELOPMENT INCENTIVE POLICY FOR PLANNED DEVELOPMENT 169 (PD 169)

  1.  

Performance-based Matching Grant

The Program is sponsored by the City to provide development incentives for residential and commercial property owners in PD 169 for the replacement of existing development with redevelopment of a site or infill development of vacant lot(s). Any improvements must enhance the tax base related to the residential/commercial properties and surrounding development. The incentives are limited to reimbursement of development fees. Each application is determined on a case by case approach. 

   2.  

Criteria:

  • The site must be located in PD 169.
  • The development must be in accordance with all City ordinances regarding PD169. 
  • The redevelopment of the site should include the replacement of existing development or an infill development on vacant lot(s). 
  • Threshold of a minimum of $250,000 of new construction value. 
  • Prior to the reimbursement of any fees, a Certificate of Occupancy must be issued for the development, and the City must declare that the project complies with the approved Incentive Agreement, the building permit and other code compliance inspections, and is in conformance with all applicable state and local laws and regulations or a valid wavier thereof. 
  • Post-improvement taxable value of the project must result in an increased assessed valuation of at least 50%.
  3.  

Requirements:

  • Completed construction drawings with floor plans and elevation drawings are to be submitted as part of the Development Plan. 
  • Aesthetic and/or architectural appeal of the improvement will be considered. 
  • All incentives are on a reimbursement basis only. 
  • An Incentive Agreement with established enhancements is required to be executed.
   4.  

Eligible Incentives:

  • Limited to a grant which rebates development fees (which had been paid to the City):
    • Planning fees 
    • Building permit fees 
    • Impact fees 
    • Inspections fees 
    • Water and sewer fees
   5.  

Application and Approval Process:

  • An application for an incentive must be submitted to the City's Office of Economic Development by the land owner. 
  • Project review of each application is required by staff including appropriate comments and recommendations for changes prior to submission to the City Council Redevelopment Subcommittee (the "Redevelopment Subcommittee"). 
  • All applications will be reviewed by the City Council Redevelopment Subcommittee. Applicants will be interviewed by the Redevelopment Subcommittee and any modifications to the application will be made prior to forwarding the application to the full City Council with a recommendation for approval or denial. 
  • City Council will review the recommendation of the Redevelopment Subcommittee and vote to either approve or deny the grant application. 
  • Grant incentives will consist of payments payable in accordance with this Policy and an Incentive Agreement to be entered into between the City and the owner of the residential or commercial property receiving the grant.

Redevelopment Incentive for PD 169 Application

SIGN INCENTIVE PROGRAM FOR PD 169

  1.  

Performance-Based Grant

The Program is sponsored by the City to provide financial incentives to existing commercial property owners in PD 169 for sign replacements/upgrades. Improvements/upgrades to the existing signage must enhance the tax base related to the commercial properties and surrounding development. The Program is retention-based with the goal of replacing the existing signage for aesthetic appeal. Each application is determined on a case by case approach.

The Program is a performance-based grant program. If a grant is to be utilized, the City may elect to make a grant in an amount up to 100% of the cost of the improvements (refer to eligible expenses below); such grant of public funds may not exceed $4000 for monument signs and $2000 for wall signs for each grantee.  

   2.  

Acceptable Categories of Improvements

The following are the eligible expenses:

  • Signage upgrade costs
   3.  

Eligibility Criteria

  • Applicant must have a valid certificate of occupancy in PD 169
  • Replacement /upgraded signage must have potential impact on the surrounding community
  • For Monument or Permanent Freestanding Signs:
    • $4,000 maximum grant per sign
    • If replaced by 01/01/2010, reimburse up to 100% of the $4000 limit
    • If replaced by 06/01/2010, reimburse up to 50% of the $2000 limit
    • If replaced by 12/31/2010, reimburse up to 33% of the $1000 limit
    • All will be reimbursement based—must complete work, and then applicant must present invoices or have contractor provide invoice to city in order to be reimbursed
  •  Wall Signs:
    • $2,000 maximum grant per sign
    • If replaced by 01/01/2010, reimburse up to 100% of the $2000 limit
    • If replaced by 06/01/2010, reimburse up to 50% of the $1000 limit
    • If replaced by 12/31/2010, reimburse up to 33% of the $500 limit
    • All will be reimbursement based—must complete work, and then applicant must present invoices or have contractor provide invoice to city in order to be reimbursed
   4.   Application and Approval Process
  • An application for a Sign Incentive Grant must be submitted to the City's Office of Economic Development by the applicant.
  • Project review of each application is required by staff including appropriate comments and recommendations for changes prior to submission to the City Council Retail Subcommittee (the "Retail Subcommittee").
  • All applications will be reviewed by the City Council Retail Subcommittee. Applicants will be interviewed by the Retail Subcommittee and any modifications to the application will be made prior to forwarding the application to the full City Council with a recommendation for approval or denial.
  • City Council will review the recommendation of the Retail Subcommittee and vote to either approve or deny the grant application.

Grant incentives will consist primarily of cash payments payable upon successful completion of all sign improvements as outlined in the Incentive Agreement to be entered into between the City and the owner/tenant of the commercial property receiving the grant.

Sign Incentive Application

Last updated: 7/1/2014 1:22:00 PM