(A) Applicants seeking approval of a project for financing through the issuance of industrial revenue bonds should initiate negotiations by correspondence with the Mayor or his or her designee. The applicant should submit a detailed proposal in the form of a letter of inducement addressed to the Mayor specifying the characteristics of the project, including an estimate of the benefits to the community, as itemized cost/benefit analysis and a description of the public service impact of the project.
(B) Applicants must complete an industrial building revenue bond application form and submit same to the City Administrative Officer. An application deposit of $2,500 must accompany the application. Any amount of the application deposit not required to compensate the city for necessary expenses incurred during review of the application will be refunded.
(Ord. 07-2002, passed 4-16-2002)