"Checklist for Municipal Tax Increment Financing (Mtif) Application" - Maine

Checklist for Municipal Tax Increment Financing (Mtif) Application is a legal document that was released by the Maine Department of Economic & Community Development - a government authority operating within Maine.

Form Details:

  • Released on November 21, 2019;
  • The latest edition currently provided by the Maine Department of Economic & Community Development;
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Download "Checklist for Municipal Tax Increment Financing (Mtif) Application" - Maine

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CHECKLIST FOR MUNICIPAL TAX INCREMENT FINANCING (MTIF) APPLICATION
**D O NOT include with application submission .
C H E C K E D
A P P L I C A T I O N
A p p l i c a t i o n m u s t i n c l u d e / a d d r e s s t h e f o l l o w i n g :
When naming a TIF district:
o Refrain from including the word “Downtown” for TIFs not seeking
1) TIF Name
a Downtown TIF designation pursuant to Title MRS 30-A §5222(9)
o Include the word “Omnibus” when multiple CEAs may be offered.
A-Z tabs for exhibits must be included.
Do not print on both sides of page.
One application per district designation. Please note: one application
2) Application submission must consist of a
for multiple districts will not be accepted.
single unbound original copy with A-Z tabs
Verify all Sections have been completed.
for exhibits.
Verify information is consistent throughout application, including
Exhibits (i.e. OAV, CAV, District acres, etc.)
For Exhibit (s) J-N, remove any non-applicable Exhibit(s)
After application is completed, follow the instructions below to
automatically update the Table of Contents page numbers:
1. In Microsoft Word, go to top of page and click on “References” tab.
2. Under “References” tab, very left-hand side, go to “Table of
Contents” section.
3) Table of Contents
3. Left click mouse on “Update Table.”
4. A gray rectangle box will pop up named “Update Table of
Contents” at top.
5. Click on the circle beside “Update entire Table”
6. Click OK.
Signature must be of an authorized municipal official, such as the
municipal mayor or manager.
Must be an original signature.
If municipality includes a separate cover letter:
4) Section 1- Cover Letter and Application
o Address letter to Commissioner, but mail to the attention of the
Cover Sheet
Development Program Officer;
o Include the words, “I certify…;” “…true and correct to the best of
my knowledge;”
o Do not use “we,” use “I.”
5) Section 4- Employment Goals
If business is a developer, do not complete this section.
Original Assessed Value (OAV) guidance:
1) Date District was designated by municipality/plantation: _______
6) Section 5- Development Program
2) Date from (1) is during property tax year: 4/1/____ to 3/31/____.
3) The OAV of the district would be the day before 4/1/___ from (2),
which is 3/31/____.
Credit Enhancement Agreement (CEA)/Contracts Terms/Conditions:
o For this requirement lack of XX% will trigger a conditional approval.
o Municipalities seeking omnibus capacity must specify maximum
reimbursement percentage within sole Council or Board of
Selectmen (BOS) discretion, i.e.: “…up to 75% company or
4) Section 6 – Financial Plan
developer reimbursement within sole BOS discretion…” and
include any other desired local triggers/caps.
Transportation Improvements:
o If there are any project costs identified in Exhibit J to improve
public ways/transportation/public safety, there should be a
correlating brief statement included in this section.
Lines A-7 and B-3 must list existing/proposed districts by individual
name on file with DECD and respective acreage/OAV.
Line A-7 must include any Affordable Housing TIF districts.
Do not use local nicknames on Lines A-7/B-3.
5) Exhibit A - Statutory Requirements and
Thresholds
Ensure data is consistent with Program narrative and exhibits.
Do not include any expired Districts (as of the date of this TIF’s
designation)
Ensure ALL necessary lines are complete.
1
CHECKLIST FOR MUNICIPAL TAX INCREMENT FINANCING (MTIF) APPLICATION
**D O NOT include with application submission .
C H E C K E D
A P P L I C A T I O N
A p p l i c a t i o n m u s t i n c l u d e / a d d r e s s t h e f o l l o w i n g :
When naming a TIF district:
o Refrain from including the word “Downtown” for TIFs not seeking
1) TIF Name
a Downtown TIF designation pursuant to Title MRS 30-A §5222(9)
o Include the word “Omnibus” when multiple CEAs may be offered.
A-Z tabs for exhibits must be included.
Do not print on both sides of page.
One application per district designation. Please note: one application
2) Application submission must consist of a
for multiple districts will not be accepted.
single unbound original copy with A-Z tabs
Verify all Sections have been completed.
for exhibits.
Verify information is consistent throughout application, including
Exhibits (i.e. OAV, CAV, District acres, etc.)
For Exhibit (s) J-N, remove any non-applicable Exhibit(s)
After application is completed, follow the instructions below to
automatically update the Table of Contents page numbers:
1. In Microsoft Word, go to top of page and click on “References” tab.
2. Under “References” tab, very left-hand side, go to “Table of
Contents” section.
3) Table of Contents
3. Left click mouse on “Update Table.”
4. A gray rectangle box will pop up named “Update Table of
Contents” at top.
5. Click on the circle beside “Update entire Table”
6. Click OK.
Signature must be of an authorized municipal official, such as the
municipal mayor or manager.
Must be an original signature.
If municipality includes a separate cover letter:
4) Section 1- Cover Letter and Application
o Address letter to Commissioner, but mail to the attention of the
Cover Sheet
Development Program Officer;
o Include the words, “I certify…;” “…true and correct to the best of
my knowledge;”
o Do not use “we,” use “I.”
5) Section 4- Employment Goals
If business is a developer, do not complete this section.
Original Assessed Value (OAV) guidance:
1) Date District was designated by municipality/plantation: _______
6) Section 5- Development Program
2) Date from (1) is during property tax year: 4/1/____ to 3/31/____.
3) The OAV of the district would be the day before 4/1/___ from (2),
which is 3/31/____.
Credit Enhancement Agreement (CEA)/Contracts Terms/Conditions:
o For this requirement lack of XX% will trigger a conditional approval.
o Municipalities seeking omnibus capacity must specify maximum
reimbursement percentage within sole Council or Board of
Selectmen (BOS) discretion, i.e.: “…up to 75% company or
4) Section 6 – Financial Plan
developer reimbursement within sole BOS discretion…” and
include any other desired local triggers/caps.
Transportation Improvements:
o If there are any project costs identified in Exhibit J to improve
public ways/transportation/public safety, there should be a
correlating brief statement included in this section.
Lines A-7 and B-3 must list existing/proposed districts by individual
name on file with DECD and respective acreage/OAV.
Line A-7 must include any Affordable Housing TIF districts.
Do not use local nicknames on Lines A-7/B-3.
5) Exhibit A - Statutory Requirements and
Thresholds
Ensure data is consistent with Program narrative and exhibits.
Do not include any expired Districts (as of the date of this TIF’s
designation)
Ensure ALL necessary lines are complete.
1
CHECKLIST FOR MUNICIPAL TAX INCREMENT FINANCING (MTIF) APPLICATION
**D O NOT include with application submission .
C H E C K E D
A P P L I C A T I O N
A p p l i c a t i o n m u s t i n c l u d e / a d d r e s s t h e f o l l o w i n g :
The provided Exhibit pages in application can be replaced with CLEARLY marked exhibits themselves. For example, the application “Exhibit B-
Assessor’s Certificate” provided page can be replaced with the actual “Assessor’s Certificate” ensuring “Exhibit B” is clearly marked at the top
of the Assessor’s Certificate page.
See Section 5, OAV Guidance.
Must include the following language:
o
“…taxable” original assessed value (OAV) of “$xx,xxx“ of “real”
and/or “…personal” property as of “…March 31, 2019 (April 1,
2018)…” in top paragraph,
o
total acreage of new/amended District, with table
rows/columns for company/developer property OAV if any,
plus call reference to any BETE property present in district but
excluded from OAV;
o
as of “March 31, YYYY (April 1, YYYY)”
6) Exhibit B - Assessor Certificate
o
Ensure certificate includes map and lots of all parcels in the
district, original assessed value of real or real and personal
property and total District acreage.
Ensure OAV dates are consistent with Program narrative and exhibits,
such as Stats/Regs form or District Map.
Ensure Assessor’s Certificate is signed, signature dated and original
provided to DECD.
Ensure certificate is comprehensive referencing any/all previous
amendments.
Provide a map of the ENTIRE municipality on one page.
Ensure map clearly shows the proposed district site location relative to
7) Exhibit C - Map of District Location within
the municipal boundaries.
Municipality
Ensure name of map matches district’s name listed in application
(Section 1, #1).
Ensure map clearly delineates the boundaries of the proposed district
on one page.
Ensure map shows clear tax map/lot numbers (additional pages can be
provided for this). Only exception is downtown designation districts
application, which may include detailed list as addendum to Assessor
8) Exhibit D - Map of District Boundaries
Certificate.
Ensure map is legible.
Ensure legend colors match map colors.
Ensure district name match’s application.
Include annual increased assessed value projections, annual tax
increment, annual capture percentages and dollar projections;
company/ developer allocation(s), if any—ending with rows for annual
average and aggregate total;
Ensure date range is consistent with Program narrative.
Ensure GF Column when capture less than 100%.
9) Exhibit E - Revenue spreadsheet
Ensure allocation columns add up or are consistent with Program
narrative.
Ensure properly labeled columns.
Include explanatory best-practice footnote.
If this is an amendment, provide actual-to-date captured values, clear
labeled.
Ensure date range consistent with Program narrative and Exhibits.
10) Exhibit F - Annual Tax Shift Spreadsheet
Include explanatory best-practice footnote.
Provided legible copy of newspaper clipping, showing public hearing
notice, newspaper name and date of publication.
11) Exhibit G - 10-day Notice of Public Hearing
Publication Proof
Development Program and exhibits must be available to public on date
of notice publication.
2
CHECKLIST FOR MUNICIPAL TAX INCREMENT FINANCING (MTIF) APPLICATION
**D O NOT include with application submission .
C H E C K E D
A P P L I C A T I O N
A p p l i c a t i o n m u s t i n c l u d e / a d d r e s s t h e f o l l o w i n g :
Ensure Public Hearing Minutes are attested to with dated original
signature
Clearly identify where it shows public hearing opened, what was said,
and when public hearing closed.
12) Exhibit H - Minutes of Public Hearing
If Public Hearing minutes are not clear of what was discussed at Public
Hearing, provide a signed and dated statement by an authorized
municipal official, on municipal letter head, to include the date of public
hearing, what time it opened, what was said, and when the public
hearing closed.
Council order should include vote tally.
13) Exhibit I - Legislative body order/vote;
Record of District Designation
Clearly identify/mark where council vote tally can be found.
If applicable, include the following Exhibits (if not applicable, remove the following pages from the application):
Must include spreadsheet/table containing a column to address the
following:
o Authorized Project/Activity as defined by Title 30-A §5225 (1-2),
o Cost estimate for each project/activity with sum-total,
o Statutory citation for each project/activity,
o Identification of common project costs/activities to other
municipal TIF districts/program.
o If this is a downtown designated district, include a column
identifying the page number from Downtown Redevelopment Plan
that corresponds to recommendations and action items.
o If this is an amended application,
- Include a column to report the status of each project.
o If applicable, clearly identify prior approved projects from new
14) Exhibit J - Table of Project Costs
projects.
Do not include any unauthorized project costs as defined by Title 30-A
§5225 (2).
Sort projects by within district, outside district and within municipality.
Only list project costs allowed under Title 30-A §5225 (1) as of date of
application. Do not include any project costs that may be allowed with
future possible legislative changes.
Provide specifics such as expected sample projects.
Do not include unallowable project costs such as residential
components, libraries, parks, fountains and community events.
Reference to support for economic development department should
include “salaries” and/or “operations,” if applicable.
Reference to administrative/organizational costs should include
“prorated municipal salaries,” if applicable.
If this is a downtown designated district, a downtown redevelopment
plan, approved by legislative body, is a requirement. Comprehensive
plans are unacceptable and will trigger a conditional approval.
Must provide verification of legislative body adoption of downtown
15) Exhibit K - Comprehensive Downtown
redevelopment plan.
Redevelopment Plan
Enclose completed Downtown Redevelopment Plan Criteria Checklist
Ensure Exhibit J’s spreadsheet includes a column identifying the page
number of where each project costs can be found/described in the
Comprehensive Downtown Redevelopment Plan.
Map must clearly identify the transit-oriented development area and/or
16) Exhibit L - Transit-Oriented Development
the transit-oriented development corridor as defined by Title 30-A
District Map
§5222 (22) and (23).
Only if an amendment
AND
not already provided to DECD, include a
copy of any executed CEAs (do not provide draft copies)
Ensure dates, reimbursement terms, OAV, etc. are consistent with
17) Credit Enhancement Agreements
information outlined in program.
PLEASE NOTE:
CEAs are legal binding documents,
Include completed a Section 3, from DECD MTIF application, with each
DECD
does not
provide legal advice.
CEA.
If CEA is with a company, include a completed Section 4, from DECD
MTIF application, with each CEA.
11/21/2019
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