The Board of Education will review a list of considerations for approving a tax increment financing project.

Financial Considerations may include, but are not limited to:

• Project grows the commercial tax base within a portion of the District
• A dollar cap on the District contribution to the Project
• Project reflects a lower term (years of increment) for higher percent of increment given (e.g. 10 year term = 90%; 15 year term = 80%; 20 year term = 60%)
• Project increases the assessed valuation while minimizing impact on services required
• Project requests a higher percentage of increment contribution from the city than from the district
• Project has administrative fee lower than 3%
• Project provides the District additional financial benefit beyond what other taxing entities receive (e.g. land, dollars, percent increment, mitigation payment, etc.)
• Project must demonstrate current and future economic benefit for the District
• The District and municipality will collaborate on the housing set aside funds to benefit District and public employees.
• If the project has retail, the municipality must indicate the percentage (%) of sales tax revenue it will contribute to the project

Additional Considerations may include, but are not limited to:

• Project emphasizes mulit-story office, industrial, and hotel development over retail
• Areas of the Project that the District participates in do not include any detached single family housing and transit-oriented housing
• Project triggers within three years of agreement
• Project creates high paying jobs, above Salt Lake County median
• Project provides partnerships opportunities for education
• Project has support of other taxing entities
• Term period of Project does not exceed 20 years
• Performance of the municipality’s previous tax increment projects
• The likelihood of the Project’s development without District participation