The City and TIRZ board determine eligibility based on the economic impact of individual development projects, and the developer's financial and development capacity.
In reviewing development capacity, the TIRZ board evaluates the following:
- Experience of the organization that is relevant to the scope of services
- Experience with public entities
- Number of employees and offices available to support this project
- Experience of teaming partners
- Professional qualifications and experience of staff
- Percentage of time key personnel will devote to the project.
The proposed project plan is evaluated by ensuring the plan addresses key areas of importance to the City and TIRZ boards, including:
- Providing a positive and financial impact to the City through added taxable property value that can contribute to the TIRZ
- Complementing surrounding developments
- Incorporating sustainable opportunities for small and local businesses
- Incorporating sustainability, green building and alternative energy
- Corresponding with the established vision and community plans for the area.
Financial capacity is evaluated by exploring the proposer's access to potential sources and uses of financing including both public and private dollars as well as potential incentives.
Other factors that are reviewed include the:
- Proposed timeline of the project and
- Plan to market the proposed project