What are the requirements for establishing a project development financing plan?
A project development financing plan must include the following: • A description of the boundaries of the project development district; • A description of the proposed development, both public and private components; • The costs of the proposed public activities; • The sources and amounts of funds to pay for the proposed public activities; • The base valuation of the project development district; • The projected increase in the assessed valuation of property in the district; • The estimated duration of the project development district; • A description of how the proposed public and private development of the district will benefit district residents and business owners in terms of jobs, affordable housing, or services; • A description of appropriate ameliorative activities if the proposed projects negatively impact district residents of business owners in terms of jobs, affordable housing, services, or displacement; and • A statement that the initial users of any new manufacturing facil
