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   (A)   Ten (10) copies of the application for the formation of a PID shall be submitted to the Mayor's Office, which shall coordinate an interdepartmental analysis of each application.
   (B)   At the time of submission of the application, the applicant shall pay a $20,000 non-refundable application fee and shall deposit an additional $30,000 as an advance deposit on account to be applied by the City in its sole discretion to the initial costs incurred in connection with the processing and review of the application and the formation of the PID in accordance with the provisions of § 6-9-1(B) ROA 1994. In calculating costs incurred by the City, the City may include reasonable costs associated with the pre-application discussion contained in § 6-9-2 ROA 1994. An accounting of all costs incurred by the City shall be made to the applicant at its request and if reasonably necessary, additional funds may be requested by the City and must be paid by the applicant. If an applicant withdraws its application, the City shall return the unexpended portion of the advance deposit; provided, that the City shall retain from those funds the amounts necessary to pay costs incurred by the City but not yet paid by the City at the time the application is withdrawn.
   (C)   At the applicant's request, the City staff shall present to the City Council a non-binding resolution expressing the City's intent to proceed with the formation of the PID. Such a resolution may be based upon a preliminary application outline, containing, at a minimum, the following information: (i) ownership of property proposed to be included in the PID; (ii) location and boundaries of the proposed PID; (iii) general description of improvements to be constructed with PID financing and estimated costs of construction; (iv) estimated principal amount of PID bonds proposed to be issued; (v) estimated maximum annual debt service on PID bonds, and (vi) estimated maximum annual PID levy per parcel of real property located within the PID. The City Council may, in its discretion and prior to the formation of the PID, adopt a resolution expressing its intent to proceed with the formation of the PID, subject to such conditions as may be set forth in the resolution. In the event that this resolution is not passed by the Council, the applicant may receive a refund of all of its advance deposit.
   (D)   If the City approves the formation of a PID and there are existing agreements with developers/ landowners for the provision of infrastructure proposed to be furnished by the PID, then those agreements shall be deemed amended to reflect the agreements and conditions pertaining to the PID. The amendments shall reflect that either the developer/landowner or the PID shall provide such infrastructure improvements.
   (E)   After the application fee and deposit are submitted, City staff shall arrange an initial conference with the applicant and the appropriate City staff, for the purpose of reviewing the application for conformity with City policies. The City staff shall use its best efforts to review the application and conduct the initial conference within thirty days following payment of application fee and deposit.
   (F)   If at any time during the application process City staff requests additional information, the applicant shall provide any and all supplemental information requested, in accordance with the provisions of § 6-9-3(K) ROA 1994.
   (G)   After analysis of an application as supplemented, City staff, under the direction of the Mayor's Office, may prepare a report including recommendations relating to the PID and an analysis of the impact of the formation of the PID and its effects on the City. The report may provide a recommended disposition of the application and any additional requirements that shall be placed on the developer/landowner and the PID. The City shall use its best efforts to complete the analysis and report concerning the application within 90 days following the initial application conference.
   (H)   If all costs billed to or incurred by the City have been paid by the applicant by a date at least fourteen (14) days prior to the date of the meeting of the City Council at which the appropriate legislation approving the application is to be introduced and if the application meets the qualifications provided herein as determined by City staff, the application, along with any report and recommendations by City staff, shall be presented by the Applicant and City staff to the Debt Committee established by City Ordinance Enactment No. 20-2001 and thereafter to the City Council, along with appropriate implementing legislation. Final approval of the City Council shall be conditioned on the City Council's conclusion that all matters necessary to be completed prior to the formation of the PID have been completed.
   (I)   If the City Council approves an application for formation of a PID, the applicant/developer/landowner and the City staff shall coordinate a schedule of events for formation of the PID and shall negotiate an appropriate development agreement between the City and the developer/landowner which shall be entered into prior to formation of the PID, which development agreement shall incorporate the requirements of any report, recommendations of the City staff relating to such PID, the requirements of this Ordinance and any other restrictions, provisions and agreements required by the City in its discretion.
(Ord. 12-2003)