A. Application Submission: Ten print copies and one digital pdf copy (on CD or flash drive) of the application for the formation of a PID (including all attachments and exhibits) and an application fee of thirty thousand dollars ($30,000.00) (the "application fee") shall be submitted to the City Manager.
B. Application Fees: The application fee shall be utilized by the City for initial application review and project feasibility analysis, including the payment of the City's financial and legal advisors, at their customary rates, to assist in the evaluation of the feasibility of the proposed PID project. Ten thousand dollars ($10,000.00) of the application fee shall be nonrefundable. The balance of the application fee shall be used by the City in connection with its review of the application. If the applicant withdraws its application prior to the City's completion of its application review, the City shall remit the unused portion (if any), of the application fee (but not the nonrefundable $10,000.00 portion) to the applicant. Upon the applicant's request, the City will provide an accounting of expenditures of funds advanced. Any unused portion of advances shall be refunded to the applicant at such time as the City determines that all costs and expenses have been paid. If at any time the anticipated costs of review and/or remaining third-party expenses exceed the amount of the remaining application fee on hand with the City, the City may require the applicant to deposit additional funds and may suspend its review pending receipt of such additional funds. The City and its legal consultants shall use reasonable efforts to determine whether any features of a PID proposed in an application appear not to be feasible, and to advise the applicant early in the review process, for the purpose of avoiding unnecessary additional costs of review.
C. Post-Application Conference: After the application and the application fee have been submitted, the City Manager, or designee thereof, will arrange a conference with the PID Review Staff for the purpose of reviewing the application and determining whether the application is complete. If, following the application conference or any other time during the application process, PID Review Staff requests additional information, the applicant shall provide any and all supplemental information requested, in accordance with the provisions of Section 11-8-3 K.
D. PID Review Staff Report: After analysis of an application is completed, PID Review Staff, under the direction of the City Manager, or designee thereof, will 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 are recommended in connection with the applicant and/or the PID. 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 Council at which the appropriate resolution(s) approving the application is to be introduced, and if the application otherwise meets the qualifications provided herein and in the Act, the application, along with any report and recommendations by PID Review Staff, will be forwarded to the Council for consideration.
E. PID Development Agreement: If the Council approves an application for formation of a PID, the applicant and the staff of the City shall coordinate a schedule of events for the formation of the PID and shall negotiate an appropriate PID Development Agreement which, if approved by the Council, shall incorporate the recommendations of the PID Review Staff relating to such PID, and any other restrictions, provisions and agreements required by the City.
F. Preliminary Approval: As an alternative to seeking final approval of its application, an applicant may request preliminary, nonbinding approval of its application by the Council ("preliminary approval").
1. A request for preliminary approval will be considered following payment of the initial application fee and information such as the following:
a. A description of the proposed PID boundaries, together with a preliminary description (to the best knowledge of the applicant) of the ownership of property within the PID boundaries and whether any qualified electors are located within the PID boundaries;
b. A description of the improvements to be constructed by the applicant;
c. The estimated construction costs of the improvements and anticipated completion time;
d. A description, by category, of improvements and related costs to be financed by the PID;
e. The estimated issuance amount of PID;
f. The total annual special levy amount (i.e., estimated aggregate annual debt service on bonds); and
g. To the extent applicable, the maximum annual PID property tax, the allocation method and maximum special levy per dwelling unit (single-family residences) or per acre (multifamily and commercial), and the methods by which the levy will be apportioned.
A request for preliminary approval need not include all of the elements of a completed application described in subsection 3.
2. The PID Review Staff report will advise the Council whether preliminary approval is recommended, not recommended, or that no recommendation is made.
3. Additional Fees: An applicant that has received preliminary approval may be required to make such additional advances as the City staff determines are necessary to pay the costs of reviewing the applicant's request for final approval of the formation of the PID, as described in subsection 11-8-4 B. An applicant may be required to submit a full additional initial application fee under subsection 11-8-4 A. (including another non-refundable portion thereof as described in 4 B.) if, in City staffs determination, the application for final approval of a PID departs substantially from the parameters set forth in the application for preliminary approval.
4. Preliminary Approval Not Binding: Preliminary approval, if granted by the counsel under this subsection 11-8-4 F., shall not bind the Council to approve or take any other action with respect to the submission of a completed final application for formation of the PID; the Council may in its sole discretion disapprove a final application notwithstanding that it has previously granted preliminary approval for the same or a similar project.
G. Notice Of Public Hearing: Pursuant to §5-11-4 of the Act, no PID application shall be acted on without a duly noticed public hearing. The notice of public hearing shall be mailed by registered or certified United States mail, postage prepaid, to all owners of real property in the proposed district at least thirty (30) days prior to the date of the hearing. In addition, notice shall be published once each week for two (2) successive weeks in a newspaper of general circulation in the City. The last publication shall be at least three (3) days before the date of the hearing. The notice shall comply with requirements of subsections B and C of §5-11-4 of the Act.
H. Approval Of Formation And PID Financing: The Council may include in its approval of the PID formation the issuance of one or more series of PID bonds, subject to the terms and conditions of the formation resolution, the PID General Plan and the PID Development Agreement. The Council's approval of PID formation and issuance of bonds shall be conditioned on the requirement that the PID shall utilize bond counsel, underwriters and/or other consultants selected by or otherwise acceptable to the Council, and that each issue of PID bonds shall be subject to the review and approval of the Council prior to issuance.
I. Extension Of Application Review Period Beyond 90 Days: In the event that the City for any reason does not take formal action on the PID application within the 90 day review period described in §5-11-3(A) of the Act, the developer may withdraw and resubmit its application with no penalty. No additional fee shall be due in connection with such resubmission as long as there are no material changes to the form and substance of the application. (Ord. 2020-1, 3-17-2020)