RES 347 Draft 01 2006-2008 - Laserfiche WebLink

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[he County relating to the proposed CFD. The deposit will be made pursuant to a Deposit and Reimbursement Agreement between the County and the Applicant. The current form of Deposit and Reimbursement Agreement is attached as Exhibit B hereto. The County will generally suggest the initial deposit to be at least $75,000, and may require a higher amount depending on the circumstances. Pursuant to the Deposit and Reimbursement Agreement, the deposit will be used by the County to pay its costs and expenses relating to the proposed CFD and is subject to replenishment by the Applicant on demand of the County if the balance falls below a specified minimum level. 1'hc use of the deposit shall in no way be construed as obligating the County to form the proposed CFD or to issue CFD bonds. Upon termination of the CFD proceedings or issuance of bonds for the CFD (as applicable), and after payment of all of the County's costs and expenses relating to the CFD, any remaining portion of the deposit will be returned to the Applicant. C. THE CFD REVIEW PROCESS 1. Initial Review Process. The Committee will conduct an initial review process for each proposed CPD prior to consideration of the ROI for the CFD by the County Council. In the case of CFD proceedings to be commenced by petition of a developer/landowner, this initial review process will be conducted upon the Committee's receipt of the completed CFD Application for the proposed CFD, and the Applicant's petition to Council should not be submitted until completion of this review process. This initial review process will focus primarily on the following azcas: a. "fo confirm that the information provided in the CFD Application is sufficiently complete and responsive to the requirements of Chapter 32 and the review criteria set forth herein; b. "fo identify and evaluate the public benefits and funding priorities associated with the special improvements included in the proposed CFD; c. 'I'o review the proposed forms of the Applicant's petition to Council and ROI, including the legislative tindings and detcrrninations [o be made pursuant to the ROI; d. 'fo review the proposed rate and method of apportionment (the "RMA") for the special taxes to be imposed within the proposed CFD, as specified in the RMA report prepared by the County's special tax consultant; e. 'I'o review relevant components of [he proposed CFD for conlormity with the guidelines set forth herein and to identify and address any potential difficulties that may be encountered at later stages in the CFD process (e.g., at the time of the County's consideration of the Ordinance of Formation or Bond Ordinance, or at the time of any subsequent offering of CFD bonds 1'or the proposed CFD); 4