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: ________________________________