Fillable City of Louisburg, Miami County, Kansas Application for (City of Louisburg)

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City of Louisburg, Miami County, Kansas Application for (City of Louisburg)

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BROWSE CITY OF LOUISBURG (KS) FORMS

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City of Louisburg, Miami County, Kansas
Application for Public Financial Participation
Request for Tax Increment Financing (TIF), Transportation Development District (TDD), Community
Improvement District (CID), Industrial Revenue Bonds (IRB), or Constitutional Abatement
Please note that a non-refundable Application fee of $500 to City of Louisburg must be submitted with this
Application. The fee covers the administration cost of the City to process the Application. There may be other fees
associated with the Application such as legal fees and outside analysis. Applicant may be asked to enter into a
Funding Agreement with the City to cover these additional costs.
Applicant should attach any supplemental documents to the Application rather than typing the answers on the form
below. The supplemental documents shall be in the same order as requested below.
A. PROJECT:
1. Applicant Information
Applicant Name
Address
Contact Person
Telephone #
Fax #
Email address
2. Applicant’s Representative Information (if different than the Applicant)
Name
Company
Address
Contact Person
Telephone #
Fax #
Email address
3. Brief description of Applicant (business – nature of business; non-business – nature of entity or group).
4. Provide status and phasing for obtaining site control for entire Project area (status such as fee simple,
purchase agreement, purchase option, option expiration, etc.).
5. Names and addresses of the owners, and/or officers and directors of the entity requesting the Public
Assistance (Applicant).
6. Legal description, address, parcel ID’s, assessed value and size of Project site; map or boundary
description and legal description of the Project area(s), and a map depicting the existing parcels of real
estate.
7. A list of names and addresses of the owners of record of real estate within the district.
2
8. The existing zoning or rezoning classifications and district boundaries and the existing and proposed
land uses within the area. Description of plans for improving or expanding municipal services within the
Project area including, but not limited to, buildings and facilities, sanitary and storm sewers and lift
stations, drainage conduits, channels and levies, refuse collection, road and street maintenance, street
lighting and fixtures, underground gas, water, heating, and electrical services and connections in the
right-of-way, sidewalks and pedestrian underpasses and overpasses, drives and driveway approaches
within the right-of-way, water mains and extensions, plazas and arcades, parking facilities, landscaping
and plantings, fountains, shelters, benches, sculptures, lighting, decorations, and similar amenities.
9. A description of the need for any relocation of residential, commercial, or industrial facilities.
10. A detailed description of the proposed Projects for which the Public Assistance is to be provided,
including a description of public and/or private improvements, building(s) including square footage,
materials, proposed use, etc. Attach site plan if available.
11. Estimated Project Costs and Sources of Funding. Provide in the format below:
SOURCES
NAME
AMOUNT
Private Bank Loan
Other Private Funds
Equity – Cash
Equity – Land
State Grant/Loan
TIF Proceeds
TDD Proceeds
CID Proceeds
IRB Proceeds
Other
TOTAL SOURCES
For the “Uses” please indicate the total amount to be expended, and then the amount for which
reimbursement is being sought based on the type of assistance.
AMOUNT
TIF
TDD
CID
Abatement
3
12. A Project pro forma showing detailed sources and uses of Project funding and identifying the shortfall
between anticipated private funding and Project costs. Include the status of all sources of financing
including private equity. The identified gap between sources and uses without public participation
should match the requested Application.
13. Provide documentation as to Project feasibility from a market perspective. The City may request
provision of a third party market feasibility study for the proposed Project.
14. Name and address of architect, engineer and general contractor.
For numbers 15-18, a sample form is included as an attachment. The requested information should be
provided in this format.
15. Project schedule (construction through occupancy).
16. Total estimated market value of Project upon completion.
17. Estimated real estate and sales taxes generated by Project upon completion. (Please show
calculations by building/use type.)
18. Projected number of new or retained jobs and economic impact created. For each new job include job
type and expected annual wages. (New jobs are defined as jobs created or relocated from out of the
State of Kansas. Retained jobs are defined as jobs relocated within the State of Kansas).
19. If appropriate, identify the status of tenants for the proposed Project. This should include current
tenants and proposed tenants. Have leases been negotiated or signed? What type of lease has been
signed or is contemplated? Identify any proposed tenants that would be relocating from within the
City.
20. If you have completed other developments please provide three municipal references, with particular
attention to any jurisdictions where you have requested and received public assistance.
21. Attach two complete sets of the following items to the Application:
a. Certified copies of the Applicant’s financial audits for the past three years (if not prepared,
provide three years of balance sheets and income/expense statements).
b. Applicant’s most recent annual or quarterly financial report.
c. Existing firms are required to submit a copy of a Kansas Tax Clearance compiled by the State
dated less than 30 days prior to the Application’s submission.
4
Additional Information for TDD/CID Requests
22. Annual on-going operating costs to be reimbursed through CID, if any.
23. Record owners of the land to be included in the proposed TDD/CID. If the Applicant is different from
the record owners, please state what is the relation to the owners.
24. Completed TDD/CID Applicant Petition (as required under current law). Example includes:
a. TDD petition signed by 100% of property owners within the proposed district;
b. CID petition signed by more than 55% of property owners by land area and 55% of property
owners by assessed value within the proposed district.
Additional Information for TIF Requests
25. Discuss the condition(s) that would qualify the proposed TIF District as a “blighted area” or
“conservation area,” and/or whether the Project is within an enterprise zone as defined within K.S.A.
§12-17,107 through 12-17,113 prior to its repeal.
Additional Information for Bond Requests – TIF/TDD/CID/IRB
26. Provide Bond Counsel Information: Name, Entity, Phone Number, Email address.
27. Provide Bond Underwriter Information: Name, Entity, Phone Number, Email address.
28. Provide Expected Bond Terms: Issue size, Use of Bond Proceeds, Term. Include preliminary term
sheet from underwriter and include projected debt service schedule. If equipment will be financed with
bond proceeds provide detail of equipment type.
29. Will any of the bond proceeds be used to refinance an existing Project or existing debt? If so, identify
the original sources and uses.
30. List all previous public bond issues of Applicant or parent company or subsidiary.
31. If conventional private financing is not included as a source, provide the reason the source is not
feasible for the Project.
32. Marketing of Bonds: provide bond underwriter analysis that the Applicant’s bonds are marketable. If no
analysis available, provide timeline for when this will be completed. What is planned placement for
bonds: public offering, negotiated by underwriter, or private placement? Does Applicant intend to
purchase all or any part of any of the bonds?
33. For IRB’s Only: Provide rationale for IRB bond proceeds compared to private conventional financing
34. For IRB’s Only: How many years has the Applicant been in business? What is the expected amount
the Applicant will be required to deposit in a reserve account for payment of debt service?
5
35. For IRB’s Only: Will the Applicant request an ad valorem tax exemption? If yes, what does Applicant
propose as an annual payment in lieu of taxes?
B. PUBLIC ASSISTANCE REQUEST:
1. Describe the amount and cost for which the public assistance is required for each economic
development financing tool. Include a statement of necessity for the need for public financial
assistance. For TIF requests, explain how the Applicant intends to demonstrate that “but for” the TIF
assistance the Project is not feasible and will not be completed. Substantiate that other alternative
methods of financing have been thoroughly explored and why TIF assistance is necessary. The City
reserves the right to request the Applicant to demonstrate the need for other forms of public
assistance.
2. Please provide any other data or information you deem pertinent for the City’s consideration in this
Application.
C. APPLICANT ACKNOLWEDGEMENTS:
Applicant acknowledges that neither they nor an affiliated party has defaulted on a real estate obligation,
been the defendant in any legal suit or action, declared bankruptcy or had judgments recorded against
them.
Applicant acknowledges and agrees that all fees and expenses incurred in connection with this application
or establishment of the Project, whether or not approved, will be paid by the Applicant. The Applicant shall
hold the City, its officers, consultants, attorneys and agents harmless from any and all claims arising from or
in connection with the Project, including but not limited to, any legal or actual violations for any State of
Federal securities laws.
Applicant agrees and understands that a non-refundable application fee of $500 to City of Louisburg must
be submitted with this Application.
Additional information may be required by the City’s Attorney, Bond Counsel, or Financial Advisor.
It is understood and agreed the information required in this application or any other information will be
disclosed to the City’s financial team and may be disclosed to the public.
Applicant recognizes and agrees that the City reserves the right to deny any Application for Tax Increment
Financing, Transportation Development District, Community Improvement District, or Constitutional
Abatement at any state of the proceedings prior to adopting the resolution approving the district, that the
Applicant is not entitled to rely on any preliminary actions for the City prior to the final resolution, and that all
expenditures, obligations, costs, fees or liabilities incurred by the Applicant in connection with the Project
are incurred by the Applicant at its sole risk and expense and not in reliance on any actions of the City.
Acceptance of the Application for public financial participation does not constitute approval or denial of the
request.
The undersigned, a duly authorized representative of the Applicant hereby certifies that the foregoing
information is true, correct and complete as of the date hereof and agrees that the Applicant shall be bound
by the terms and provision herein.
DATE: ____________________ Applicant: ________________________________
6
Bldg SF
Const Cost
per SF
Appraised
Value per SF
Est Taxes per
SF
Sales per SF
Const Start
Mo/Yr
Const Compl
Mo/Yr
Occupancy
Start Mo/Yr
Occupancy
Compl Mo/Yr
No. of Jobs
Upon Compl
New
Jobs
Relocated
Jobs
Retained
Jobs
No. by
Type
Anticipated
Wage
Office Development
Building 1
Building 2
Building 3
Building 4
Total Office Development
Mixed-Use Development
Building 1
Building 2
Building 3
Building 4
Total Mixed-Use Development
Retail Development
Building 1
Building 2
Building 3
Building 4
Total Retail Development
Industrial Development
Building 1
Building 2
Building 3
Building 4
Total Industrial Development
Total Project
Jobs
Louisburg, Kansas - Application for Public Financial Participation
Attached form for Questions 15-18
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City of Louisburg, Miami County, Kansas Application for (City of Louisburg)

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Completed 23 January 2021

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