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Minimum Threshold Criteria: Tax Exemption Benefit <br />o Applicants meeting the Minimum Threshold Criteria will be eligible for <br />consideration of a 5 year property tax exemption on the eligible portion of the <br />project. Applicants may qualify for an extension of the tax exemption for of up to <br />ten years based on the Additional Public Benefit Criteria. <br />ADDITIONAL PUBLIC BENEFIT CRITERIA <br />• Local Hiring <br />• Increase the percentage for dollar volume of the combined professional services <br />and construction <br />• Increase the percentage of the on -site construction jobs performed by local <br />residents <br />• Location <br />o Do not give extra consideration for projects located within Downtown Plan Area <br />• Project Features <br />• Public safety (lighting, design elements) <br />• No tax exemption on commercial space that competes with neighboring <br />businesses <br />OTHER PROGRAM FEATURES <br />• MUPTE Review Panel <br />• Do not include a MUPTE review panel <br />• Program Volume <br />• Cap the annual dollar amount of tax exemptions approved (Example: <br />$500,000 /year) <br />• Rolling Cap (suspend the program when a specific dollar amount of tax <br />exemptions is reached, then reopen when project come onto the tax rolls) <br />• Application Period <br />• Limit the application period to create competitive process <br />