Fillable Farmington Tax Abatement Application (City of Farmington)

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Farmington Tax Abatement Application (City of Farmington)

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Farmington Tax Abatement Policy rev. 10.27.16
CITY OF FARMINGTON
Tax Abatement Application
GENERAL INFORMATION:
Business Name:
Date:
Address:
Type (Partnership, etc.):
Phone:
Legal Counsel:
Address:
Phone:
FINANCIAL BACKGROUND:
1. Have you ever filed for bankruptcy?
2. Have you ever defaulted on any loan commitment?
3. Have you applied for conventional financing for the project?
4. List financial references:
a.
b.
c.
Farmington Tax Abatement Policy rev. 10.27.16
5. Have you ever used any business subsidy before?
If yes, where and when?
PROJECT INFORMATION:
1. Location of Proposed Project:
2. Amount of Business Subsidy Assistance
requested?
3. Why the need for Business Subsidy
Assistance:
4. Present ownership of site:
5. Number of permanent full-time jobs created as a result
of project. Please include projected wage levels/ranges.
6. Estimated annual sales:
Present:
Future:
7. Market value of project following completion:
8. Name and address of architect:
9. Anticipated start date:
Completion Date:
Farmington Tax Abatement Policy rev. 10.27.16
FINANCIAL INFORMATION:
1. Estimated project related costs:
a. land acquisition
$
b. site development
c. building cost
d. equipment
e. architectural/engineering fee
f. legal fees
g. off-site development costs
TOTAL ESTIMATED COSTS
2. Source of financing:
a. private financing institution
$
b. tax increment/abatement funds
c. other public funds
d. developer equity
TOTAL ESTIMATED SOURCES
(Should equal Total Estimated Costs)
What type of business assistance requested?
Tax Increment Financing
Economic Development Tax Abatement
Other:
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Farmington Tax Abatement Application (City of Farmington)

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Completed 15 July 2020

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