CITY OF IRONTON, MISSOURI
APPLICATION FOR TAX INCREMENT FINANCING OR OTHER PUBLIC INCENTIVES
____________________________________________________________________
Applicant’s Name
Street Address City/State/ Zip
____________________________________________________________________
Applicants’ Federal Tax Identification Number (FEIN) MITS/Missouri ID No.
Name and Title of Responsible Officer Tel e p h o n e / FA X / E - m a i l
Attorney for or Authorized Representative of Applicant Tel e p h o n e / FA X / E - m a i l
Street Address City/State/Zip
Application Format: Please answer the following questions on a separate
sheet of paper.
Upon request, proposals will be kept confidential to the extent permitted by
law.
DEVELOPMENT TEAM:
1)
Provide the relevant information on the Applicants background and
development experience. Demonstrate that the Applicant possesses the
technical ability to complete and operate the project. Include resumes of
key individuals assigned to the project.
2)
Identify the Applicant’s consultants (i.e. architect, civil engineer, legal
counsel and other professionals) involved or proposed to be involved in the
project. Provide addresses and other contact information for each
consultant.
PROJECT DESCRIPTION:
3)
Identify the location of the project by street address and parcel number(s).
4)
Describe the proposed project, including the size and scope and phasing of
the proposed project. Include a site plan that illustrates the project (i.e.
building uses, parking spaces, driveways, sidewalks, etc.) and, if available,
a floor plan.
5)
Identify the current owner(s) of the real property included in the project.
If the Applicant and the current owner(s) are not the same entity, describe
the relationship between such entities (i.e., related entities, Applicant has
contractual option to purchase the property, etc.).
6)
Is the property currently zoned for the proposed use? If not, what zoning
change will be required?
STATU TORY ELIGIBILITY REQUIREMENTS:
7)
State the need and justification for TIF assistance. Provide the “but-for”
affidavit in the form attached.
8)
Attach a letter from a financial institution indicating (a) that the Applicant
has sufficient financial resources to obtain the private financing for the
project and (b) that the financial institution is committed to provide such
private financing, subject to normal underwriting criteria.
PROJECTS COSTS/FINANCING:
9)
Identify sources, amount, and status of all debt financing and/or equity
funding available to complete the project. With respect to each source of
funds, identify a contact person who can verify such source.
10)
Provide and outline the costs associated with the development of the
proposed project(s).
11)
List other public incentives, if any, which are being sought by the Applicant
in furtherance of this project.
12)
Provide a pro forma financial statement, showing the projected return on
investment if the project is built without TIF assistance, and the projected
return on investment if the project is built with TIF assistance.
13)
Provide an estimate of the market value of all taxable personal property to
be located at the project site following completion of the project.
I hereby certify all the information in this application is true and complete to
the best of my knowledge.
I acknowledge submitting this application is not a guarantee of public
assistance. Each proposal will be evaluated to determine how well it supports
the City’s objectives for the Redevelopment Area and if public incentives are
warranted. The City may reject all or part of any redevelopment proposal.
Approval of the redevelopment proposal or any part thereof will be made in
the sole discretion of City.
I also acknowledge the public assistance through the use of Tax Increment
Financing will be on a ‘pay as you go’ basis.
Applicant’s Signature Date
Title
Company!
STATE OF MISSOURI )
)
COUNTY OF IRON)
AFFIDAVIT
I, the undersigned, am over the age of 18 years and have personal knowledge
of the matters stated herein.
1.
I am the ______________________of (name of Company), and am
authorized to attest to the matters set forth herein.
2.
_____________________________ (Name of Company) owns the property
located at ___________________________ in Ironton, Missouri. The
property has not been subject to growth and development through
investment by private enterprise, and would not reasonably be
anticipated to be developed without the adoption of tax increment
financing.
_____________________________________________
Printed Name:________________________________
Subscribed and sworn to before me this ______ day of _______________, 20___
.
_______________________________
Notary Public
My commission expires on:
(Bank’s Letterhead)
_____________, 20
The Honorable Robert Lourwood
Mayor
City Hall
123 North Main
Ironton, MO 63650
Re: (Name of Owner)
Dear Mr. Lourwood:
We are familiar with the project proposed by (Name of Owner), consisting of
the (development/rehabilitation) of an approximately ___________square foot
building at _____________ in Ironton.
We are pleased to announce our commitment to finance the project,
contingent upon final loan committee approval and supported by loan
documentation typical of a transaction of this size and nature.
If the City of Ironton provides tax increment financing to (Name of Owner), and
all other developmental issues are satisfactorily addressed, (Name of Owner)
has the financial ability to proceed with the proposed project.
Sincerely,
(BANK)
By:_______________________________________
Name:____________________________________
Title:_____________________________________