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  • 1. Tax Increment Financing District Program Application Forms On the following pages are the forms to use to file a TIF District application with the Vermont Economic Progress Council. Please print out and follow the accompanying instructions and provide all information that is required or the application will be found incomplete. Vermont Economic Progress Council National Life Office Building, 6th Floor 1 National Life Drive Montpelier, VT 05620-0501 (802) 828-5256 http://www.dhca.state.vt.us/TIF/tif%20homepage.htm
  • 2. TIF Form 8 Page 2 of 2 Version 10.2009
  • 3. TIF FORM 1: APPLICANT INFORMATION 1. Name of Municipality:       2. Municipal Contact Person: Name:       Title:       Mailing Address:      Town:       Zip Code:      Physical Address:      Town:       Zip code:      Phone Number:      Extension:      Fax Number:       Cell Phone Number:       Email Address:       3. Is this the same person we should contact about maps included with the application? Yes No If no, who is the map contact? Name:       Phone:       Email address:       4. Contact Information for Municipal Signatories: Name:       Title:       Mailing Address:       Town:       Zip Code:      Physical Address:      Town:       Zip code:       Phone Number:      Extension:       Fax Number:       Cell Phone Number:      Email Address:       Name:       Title:       Mailing Address:       Town:       Zip Code:      Physical Address:       Town:       Zip code:       Phone Number:       Extension:       Fax Number:       Cell Phone Number:       Email Address:       TIF Form 1 Page 1 of 1 Version 10.2009
  • 4. TIF FORM 2 AUTHORIZATION AND CERTIFICATION We, the undersigned, declare under penalties of perjury that this application and all documents attached in support of this application are true, correct and complete to the best of our knowledge. If such statements are required, we declare that the statements included herein regarding whether this activity would occur or would occur in a significantly different or significantly less desirable manner, are true, correct and complete to the best of our knowledge. We certify that we are duly sworn or elected officers of the applicant municipality with the authority, given by the municipality, to enter into contracts or other similar agreements on behalf of the municipality. Signature of Municipal Administrative Official: X__________________________________________________________ _______________ Date:       Type Name:       Title:       Signature of Elected Municipal Official: X__________________________________________________________ __________________ Date:       TIF Form 2 Page 1 of 1 Version 10.2009
  • 5. Type Name:       Title:       Ti TIF Form 8 Page 2 of 2 Version 10.2009
  • 6. TIF FORM 3 APPLICATION FEE IF FORM 3 APPLICATION FEE Application Fee (§6, Act 47, 2009) Attachment 3A: Application Fee TIF Form 3 Page 1 of 1 Version 10.2009
  • 7. TIF FORM 4 STATEMENT OF PURPOSE STATEMENT OF PURPOSE: Attachment 4A: Statement of Purpose narrative. Attachment 4B: Copy of finding adopted by the municipal legislative body. Attachment 4C: Evidence that the finding has been adopted by the municipal legislative body and the body voted to create the TIF District. TIF Form 4 Page 1 of 1 Version 10.2009
  • 8. TIF FORM 5 STATEMENT OF NEED (BUT FOR) BUT FOR CRITERIA: (Choose Number 1, 2 or 3 by checking the appropriate box and attach the requirements for that choice, per instructions) 1. The proposed TIF District is within a Designated Growth Center as defined by 24 VSA, Chapter 76A, §2793c. 2. The municipality has applied for designation of a region within the municipality as a Designated Growth Center as defined by 24 VSA, Chapter 76A, §2793c and the area proposed as a TIF District in this application is within that proposed Designated Growth Center. Growth Center Application was submitted on:       We expect to receive Growth Center Designation by:       3. The proposed TIF District is not within a Designated Growth Center, nor is a Growth Center designation being sought. Attachment 5A: “Decision to Approve” document issued by the Vermont Expanded Downtown Board Attachment 5B: Map showing the municipal, Growth Center, and proposed TIF District boundaries. Attachment 5C: Table indicating expected incremental municipal and education property tax revenues and the amounts expected to go to the municipal general fund, the Education fund, and to retire TIF District debt. Attachment 5D: Detailed But For narrative. Attachment 5E: Table indicating municipal operating budgets. Attachment 5F: Table indicating the municipality’s capital budget (if one exists). Attachment 5G: Table indicating level of bonded debt or other municipal debt. Attachment 5H: Other documents, spreadsheets, or information that support Statement of Need (But For). TIF Form 5 Page 1 of 1 Version 10.2009
  • 9. List: 1.      2.      3.      4.      5.      6.      TIF Form 8 Page 2 of 2 Version 10.2009
  • 10. TIF FORM 6 PROCESS CRITERIA PROCESS REQUIREMENTS APPLICANTS MUST PROVIDE ALL OF THE FOLLOWING AS EVIDENCE THAT ALL FOUR PROCESS CRITERIA ARE MET. 1. Evidence that municipal legislative body held properly warned public hearings The municipality has held public hearings and established a TIF District in accordance with statute: Attachment 6A: Copies of public hearing notices, meeting agendas, meeting minutes, media accounts of public meetings. Attachment 6B: Certification from town clerk and the town lister or assessor that TIF District Plan was recorded. Attachment 6C: Certification of original taxable value. 2. Evidence that the municipality has developed a TIF District Plan: TIF District Plan, which must include: Attachment 6D: A narrative TIF District overview Attachment 6E: A map indicating municipal boundaries in relation to the region (i.e. county), and which also shows major regional transportation routes. Attachment 6F: A map indicating the municipal, TIF District, and any other designated area boundaries indicated (if Attachment 5B is already included, that map will cover this requirement). Attachment 6G: A table listing all properties encompassed by the TIF District. TIF Form 6 Page 1 of 1 Version 10.2009
  • 11. Attachment 6H: A table listing all public infrastructure projects. Attachment 6I: Table summarizing construction costs listed in Attachment 6H, by type of infrastructure . Attachment 6J: Table summarizing construction costs listed in Attachment 6H, by year of construction. TIF FORM 6 (CONT.) PROCESS CRITERIA Attachment 6K: Table listing infrastructure nexus and proportionality information. Attachment 6L: A table listing all expected real property developments. Attachment 6M: A table summarizing characterizations and nexus of expected real property developments. Attachment 6N A table summarizing incremental property tax revenues. Attachment 6O: A table summarizing expected revenue sources Attachment 6P: A table summarizing expected debt costs. Attachment 6Q: A table summarizing income and debt expense by year. Attachment 6R: Table listing expected “related costs 3. Evidence that the municipality has approved or pledged the utilization of incremental municipal tax revenues for purposes of the district in the same or greater proportion as the utilization of education property tax revenues for which approval is sought. Attachment 6S: Narrative statement from municipality stating the percentage of incremental municipal and education property tax to be utilized for TIF District debt. TIF Form 6 Page 2 of 3 Version 10.2009
  • 12. 4. Evidence that the proposed infrastructure improvements and the projected development or redevelopment are compatible with approved municipal and regional development plans, and the project has clear local and regional significance for employment housing, and transportation improvements: Attachment 6T: Narrative statement from municipality regarding compatibility with the municipal plan. Attachment 6U: Narrative explanation from municipality regarding significance for employment, housing, and transportation improvements. Attachment 6V: Narrative explanation from municipality regarding permits. Attachment 6W: Copy of most recently approved comprehensive municipal plan. Internet URL Address:       Updated Comprehensive Municipal Plan Expected by:       TIF FORM 6 (CONT.) PROCESS CRITERIA Attachment 6X: Signed statement from appropriate regional planning commission. Attachment 6Y: Copy of most recently approved regional plan. Internet URL Address:       Updated Regional Plan Expected by:       Attachment 6Z: Signed statement from the CCMPO. TIF Form 6 Page 3 of 3 Version 10.2009
  • 13. TIF FORM 7 LOCATION CRITERIA LOCATION CRITERIA (32 VSA §5404a(h)(3)): APPLICANTS MUST MEET ONE OF THE FOLLOWING CRITERIA: (Check the criterion met by application and attach requirements, per instructions) 1. The expected real property development or redevelopment will be compact, high density, and located in or near existing industrial areas. Attachment 7A: A map of the municipality, indicating the municipal boundaries, TIF District boundaries, municipal zoning areas, with the “existing industrial area” highlighted. Attachment 7B: A copy of the most recent municipal zoning bylaws. Internet URL Address:       Updated Zoning Plan Expected by:       Attachment 7C: Narrative description explaining how the development and/or redevelopment expected to occur within the TIF District meets the definition of “compact and of high density.” 2. The proposed TIF District is within an approved growth center, designated downtown, designated village center or new town center. Attachment 7D: A map of the municipality, indicating the municipal boundaries, TIF District boundaries, and boundaries of the approved growth center, designated downtown, village center, or new town center. (If TIF District is within a Growth Center and Attachment 5B is already included, that map will cover this requirement). Attachment 7E: Copy of the Designation Approval Document from the Vermont Downtown Board or Extended Downtown Board as appropriate. (If TIF District is within a TIF Form 7 Page 1 of 1 Version 10.2009
  • 14. Growth Center and Attachment 5A is already included, that approval document will cover this requirement). TIF Form 7 Page 2 of 2 Version 10.2009
  • 15. TIF FORM 7 (CONT.) LOCATION CRITERIA 3. The development will occur in an area that is economically distressed. Indicate which statutory indicators are met. (Check as many as apply) The area has experienced patterns of increasing unemployment. There has been a drop in average wages. There has been a decline in real property values. Attachment 7F: Narrative supporting claim that area is “economically distressed” as defined by TIF statute and supported by published economic data. Attachment 7G (optional): Data supporting claim in attachment 7F that area is “economically distressed” as defined by TIF statute, including sources of data. Or, There has been a recent economic or catastrophic event that may not be reflected in available economic data published by government entities. Attachment 7H: Narrative information on that event and the impact on the TIF area. Attachment 7I: Data to support the claim included in Attachment 7H. TIF Form 7 Page 3 of 2 Version 10.2009
  • 16. TIF FORM 8 PROJECT CRITERIA PROJECT CRITERIA (32 VSA §5404a(h)(4)): APPLICANTS MUST MEET THREE OF THE FOLLOWING CRITERIA: (Check the 3 criteria met by application and attach requirements, per instructions) 1. The development within the TIF District clearly requires substantial public investment over and above the normal municipal operating or bonded debt expenditures. Attachment 8A: Narrative explanation of public investment requirement. Attachment 8B: Table of municipal operating budgets. Attachment 8C: Table of municipal capital budget. Attachment 8D: Table of municipal debt. [Note: If proposed TIF District is not within a Designated Growth Center, the requirements of Attachment 8B, C, and D are met with Attachments 5E, 5F, and 5G.] 2. The development includes new housing that is affordable to the majority of the residents living within the municipality and is developed at a higher density than at the time of application. Attachment 8E: Table regarding existing and expected housing supply. Attachment 8F: Narrative explanation of how the housing that is expected to be developed in the TIF District meets this criterion, utilizing the data included in Attachment 8E. 3. The project will affect the remediation and redevelopment of a Brownfield located within the TIF District. Attachment 8G: A map indicating the TIF District boundaries, and the location of the Brownfield site within the TIF District. TIF Form 8 Page 1 of 1 Version 10.2009
  • 17. Attachment 8H: Narrative description of the Brownfield site. Attachment 8I: Brownfield certification or documentation. Attachment 8J: Brownfield remediation plan. TIF FORM 8 (CONT.) PROJECT CRITERIA (CONT.) 4. The development will include at least one entirely new business or business operation or expansion of an existing business within the TIF District, and this business will provide new, quality full-time jobs that meet or exceed the prevailing wage for the region as reported by the department of labor. Attachment 8K: Narrative regarding the new business(es) or business expansion(s). 5. The development will enhance transportation by creating improved traffic patterns and flow or creating or improving public transportation systems. Attachment 8L: A narrative description of the transportation enhancements and resulting transportation improvements that will occur. Attachment 8M: Copies of traffic studies, transportation studies, or any other documentary evidence supporting current transportation difficulties and/or proposed transportation solutions. List any attachments: 1.      2.      3.      4.      5.      6.      7.      8.      Attachment 8N: "Transportation Enhancement Grant" information or a copy of the TEG application. TIF Form 8 Page 2 of 2 Version 10.2009
  • 18. TIF FORM 9 OTHER ATTACHMENTS Required from all applicants: Attachment 9A: Most recent zoning map, with TIF District boundaries indicated. (If your application is addressing the Location Criteria using Location Criteria #1, this requirement is already met by Attachment 7A.) Attachment 9B: Most recent zoning bylaws. (If your application is addressing the Location Criteria using Location Criteria #1, this requirement is already met by Attachment 7B.) Internet URL:       Updated Zoning expected by:       Attachment 9C: Maps of any other relevant municipal districts (such as water, fire, wastewater), with TIF District boundaries indicated. Optional: Attachment 9C: Any other studies or reports mentioned by application, or any studies or reports you deem relevant to the application or useful to the determinations that VEPC must make: 1.      2.      3.      4.      5.      6.      7.      8.      TIF Form 9 Page 1 of 1 Version 10.2009
  • 19. TIF FORM 10 APPLICATION CHECKLIST BY TYPE OF DOCUMENT TIF Forms: TIF Form 1: Applicant Information (required) TIF Form 2: Authorization and Certification (required) TIF Form 3: TIF Application Fee (required) TIF Form 4: Statement of Purpose (required) TIF Form 5: Statement of Need (required) TIF Form 6: Process Criteria (required) TIF Form 7: Location Criteria (required) TIF Form 8: Project Criteria (required) TIF Form 9: Other attachments (required) TIF Form 10: Application checklist by Type of Document (Required) Narrative Attachments: 4A: Purpose Explanation (required) 5D: Statement of Need (required if TIF is not within a Growth Center) 6D: TIF Plan Narrative (required) 6T: Municipal Plan Compatibility Narrative (required) 6U: Significance Narrative (required) 6V: Permitting Narrative (required) 7C: Compact and High Density Narrative (required to meet Location Criteria 1) 7F: Economic distress narrative (required to meet Location Criteria 3) 7H: Recent and/or catastrophic Economic Event Narrative (Required if claiming recent or catastrophic economic event to meet Location Criterion 3) 8A: Public Investment Narrative (required to meet Project Criteria 1) 8F: Housing Narrative (required to meet Project Criteria 2) 8H: Brownfield Narrative (required to meet Project Criteria 3) 8K: Business Narrative (required to meet Project Criteria 4) 8L: Transportation Narrative (required to meet Project Criteria 5) Statement Attachments: 6S: Percentage Statement (required) 6X: RPC Statement (required) TIF Form 10 Page 1 of 1 Version 10.2009
  • 20. 6Z: MPO Statement (required if municipality is in MPO area) TIF FORM 10 (CONT.) APPLICATION CHECKLIST BY TYPE OF DOCUMENT Data Attachments: 5C: Revenue Summary (required) 5E: Municipal Budget Summary (required if TIF is not within a Growth Center) 5F: Capital Budget Summary (required if TIF is not within a Growth Center and municipality has a capital budget) 5G: Existing Debt Summary (required if TIF is not within a Growth Center) 6G: All Properties in District List (required) 6H: Infrastructure Project List (required) 6I: Infrastructure Cost Summary, by Type (required) 6J: Infrastructure Cost Summary, by Year (required) 6K: Infrastructure Nexus and Proportionality Information (required) 6L: Real Property Development List (required) 6M: Real Property Characterizations (required 6N Incremental Property Tax Revenue, by Year (required) 6O: All Revenue Sources, by Year (required) 6P: All Debt costs (required) 6Q: Combined Debt and Revenue (required) 6R: Related Cost Summary (required) 7G: Data Supporting Economic Distress Claim (Optional) 7I: Recent and/or catastrophic Economic Event Data (Required if claiming recent or catastrophic economic event to meet Location Criterion 3) 8B: Municipal Budget Summary (required to meet Project Criteria 1) 8C: Capital Budget Summary (required to meet Project Criteria 1) 8D: Existing Debt Summary (required to meet Project Criteria 1) 8E: Housing Data (required to meet Project Criteria 2) Map Attachments: TIF Form 10 Page 2 of 3 Version 10.2009
  • 21. 5B: Map of municipal, Growth Center, and TIF Boundaries (required if TIF is within an approved Growth Center or Growth Center designation has been applied for) 6E: Map of municipal and county boundaries and transportation routes (required) 6F: Map of municipal, TIF, and other boundaries (required, unless 5B included) 7A: Map of municipal, TIF, zoning boundaries and industrial area (required to meet Location Criteria 1) 7D: Map of municipal, TIF, and designated area boundaries (required to meet Location Criteria 2. 8G: Map of municipal and TIF boundaries and Brownfield site (required to meet Location Criteria 3. 9A: Map of municipal, TIF, zoning boundaries (required, unless 7A included) 9C: Map of other municipal districts (required, if other districts exist) TIF FORM 10 (CONT.) APPLICATION CHECKLIST BY TYPE OF DOCUMENT Other Attachments: 3A: Application Fee (required) 4B: Municipal Finding (required) 4C: Finding Adoption Evidence (required) 5A: Growth Center Decision to Approve Document (required if TIF is within an approved Growth Center) 5H: Other Statement of Need Support (optional) 6A: TIF Plan Adoption Evidence (Required) 6B: TIF Plan Recording Certification (Required) 6C: Original Taxable Value Certification (Required, if April 1 of first year after TIF District creation has passed) 6K: Proportionality Support Documents (Required, if they exist) 6W: Municipal Plan (required) 6Y: Regional Plan (required) 7B: Zoning Bylaws (required to meet Location Criteria 1) 7E: Designation Approval Document, other than Growth Center (required to meet Location Criteria 2) 8I: Brownfield certification (required to meet Project Criteria 3) 8J: Brownfield Remediation Plan (required to meet Project Criteria 3) TIF Form 10 Page 3 of 3 Version 10.2009
  • 22. 8M: Transportation Improvement support (required to meet Project Criteria 4) 8N: Transportation Improvement Grant application (required, if filed, to meet Project Criteria 4) 9B: Zoning Bylaws (required, unless 7B included) 9D: Other documentation (optional) TIF Form 10 Page 4 of 3 Version 10.2009