Loading...
Upon a rezoning of land within a conversion area, the department may record, or require the applicant to record, a notice against the rezoned area or any portion thereof to ensure that the requirements of this chapter are enforced. The notice shall include (a) an accurate legal description of the rezoned area or any portion thereof; (b) a statement that future development is subject to the conversion fee; (c) a statement that the amount of the conversion fee will be determined in accordance with this chapter; and (d) a statement that if the conversion fee is not paid, the department may impose a lien on the rezoned area, or the applicable portion thereof, in accordance with Sec. 16-8-110. After the conversion fee for any development site or portion thereof has been paid, the commissioner shall have the authority to release the notice against such development site, or the applicable portion thereof, upon the applicant's request and without further city council action.
(Added Coun. J. 7-26-17, p. 53898, § 1)
If, for any reason, a building permit for a development site is issued prior to the applicant paying the conversion fee due and owing, the department may institute lien proceedings to recover the entire unpaid balance of the conversion fee, plus interest and reasonable attorneys' fees and costs, including the reasonable value of any services rendered by the corporation counselor his assistants or any consultants, agents or employees of the city.
(Added Coun. J. 7-26-17, p. 53898, § 1)
The Industrial Corridor System Fund may be used for the following costs when they are necessary or desirable for the preservation, development and/or growth of industrial uses in receiving corridors:
(a) costs to acquire land and buildings;
(b) costs for environmental site assessment and remediation;
(c) costs to demolish substandard, obsolete, or vacant buildings;
(d) costs to rehabilitate or repurpose underutilized or out-of-date industrial buildings;
(e) costs to provide key support infrastructure; and
(f) administrative, reporting, and monitoring costs and expenses of the Industrial Corridor System Fund, provided such costs and expenses may not exceed 5% of the Fund.
(Added Coun. J. 7-26-17, p. 53898, § 1)
In lieu of the required cash contribution to the Industrial Corridor System Fund, applicants may propose to undertake eligible projects themselves, including, without limitation, the acquisition, remediation or rehabilitation of industrial land or buildings for the relocation of industrial establishments from conversion areas to suitable replacement sites in receiving corridors. The department shall review proposals on a case-by-case basis. If the department approves the proposal, the applicant shall submit project documentation, including but not limited to, detailed site-specific cost estimates for the project, appropriate drawings, detailed construction commitments, a construction schedule, and a performance bond for completion of the improvements, if applicable. If the estimated budget for the project exceeds the applicant's required cash contribution, the department may distribute funds from the Industrial Corridor System Fund to the applicant to perform additional work associated with the project on behalf of the City or applicable sister agency, subject to city council approval.
(Added Coun. J. 7-26-17, p. 53898, § 1)
Priority will be given to projects that:
(a) directly facilitate or enable the construction of a facility for a specific new or expanding industrial use;
(b) create or retain jobs for city residents;
(c) eliminate severe, long-term barriers to reuse of vacant or underutilized industrial land and facilities, such as environmental contamination;
(d) are located in areas targeted for investment by the department in its economic development strategy;
(e) commit to hiring residents of qualified investment areas, as defined in Sec. 16-14-020;
(f) show a clear path to financial closing and construction start; and
(g) are economically viable and sustainable.
(Added Coun. J. 7-26-17, p. 53898, § 1)
Loading...