Categories of Participation:

TAX REBATE: Temporary abatement of either real estate or personal property taxes is not available within the TIRZ district.

INFRASTRUCTURE COST PARTICIPATION: City may pay a portion or the entire amount of the required City infrastructure (within ROWs or easements dedicated to the City). For those projects where certain City escrow fees will be required, a waiver of such fees may be considered. In addition, third party utility improvements may be rebated to facilitate aesthetic requirements of the Transit Center District. Participation is considered on a ‘case by case’ basis with limits outlined on the table below.

DEVELOPMENT FEE REBATES: City may rebate a portion or the entire amount of all City fees charged in the regulation of land development. Participation is considered on a ‘case by case’ basis with limits outlined on the table below. Rebates are payable only after a Certificate of Occupancy is granted.

CITY-OWNED REAL PROPERTY/ PUBLIC RIGHT-OF-WAY: The City may transfer ownership of real property at or below market rate (or City’s purchase price, whichever is less) and as required by statute. In the case of public right-of-way, the City may rebate fees charged by the City for abandonment of public rights-of-way. Participation is considered on a ‘case by case’ basis with limits outlined on the table below. Rebates are payable only after a Certificate of Occupancy is granted. Transfer of real property will occur upon issuance of building permit for a fully financed project.  

• Project located within City’s TIRZ #1 as described in Ordinance 3034.
• Project meets the purpose of this Program and assistance is necessary to stimulate private investment to add further value to the project above current minimum zoning requirements.

• An application for incentives must be submitted to the City’s Office of Economic Development by the land owner/ developer. The application should include a detailed description of the project, including renderings or drawings of the proposed project, and a project budget including sources of funds and a project timetable.
• Project review of each application is required by staff including appropriate comments and recommendations for changes prior to submission to the City Council Transit-Oriented Development Subcommittee (the TOD Subcommittee).
• All applications will be reviewed by the TOD Subcommittee. Applicants may be interviewed by the TOD 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 TOD Subcommittee and vote to either approve or deny the application.
• Incentives will not be granted until a successful binding incentive agreement is entered into between the City and the owner/ developer.