7.1 HRSR 04-06-2015ilk
River
Request for Action
To
Item Number
Housing and Redevelopment Authority
17.1
Agenda Section
Meeting Date
Prepared by
Workshop
Aril 6, 2015
Jeremy Barnhart, Deputy Director, CODD
Item Description
Reviewed by
Review changes to the Housing Tax Increment
Reviewed by
Financing Policy
In 2014, the HRA and the City Council established a Housing TIF policy, formalizing a tool to assist in
the development of housing projects that satisfy City goals and require assistance. The Housing TIF
policy is very similar to TIF policy employed for economic development, where factures such as job
growth and wages are a vital consideration.
Wanting to be more responsive to the market, the HRA directed staff to review the Housing TIF
program, and suggest amendments.
In March, the HRA reviewed the score sheet, changes identified there are reflected in the draft policy
attached.
Staff will provide verbal comments at the meeting.
Attachments
■ Housing TIF Policy and Scoresheet
P 0 N E R E 0 8 C
NATUR
City
E
Tax Increment Financing
Policy & Application
HOUSING
DRAFT April 2015
Amended: February 2014
Amended: May 2006
Amended: March 2000
Adopted: August 1991
City of Elk River
Economic Development Division
13065 Orono Parkway
Elk River, NIN 55330
763.635.1040
Table of Contents
I. Policy Purpose 3
I1. Objectives of Tax Increment Financing 3
III. Policies for the Use of TIF 4
IV. Project Qualifications 5
V. Subsidy Agreement & Reporting Requirements 6
V1. Application Process for TIF 6
VII. Meeting Schedule 7
VIII. Sample But -For Analysis 9
IX. Application Review Worksheet:
Housing Projects 8
Application 1 I
City of Elk River Tax Increment Financing Policy & Application- Housing P 0 N E 0 1 0 1 1
Amended DINE INATURE
Page 2 of 16
I. POLICY PURPOSE
For the purposes of this document, the term "City "shall include the Elk River City Council, Economic
Development Authority, and Housing and RedevelopmentAuthorzty.
The purpose of this policy is to establish the City of Elk River's position relating to the
use of Tax Increment Financing (TIF) for Housing projects private development above
and beyond the requirements and limitations set forth by State Law. This policy shall be
used as a guide in the processing and review of applications requesting tax increment
assistance. The fundamental purpose of tax increment financing in Elk River is to
encourage desirable development or redevelopment that would not otherwise occur but
for the assistance provided through TIF.
The City of Elk River is granted the power to utilize TIF by the Minnesota Tax
Increment Financing Act, as amended. It is the intent of the City to provide the
minimum amount of TIF, as well as other incentives, at the shortest term required for
the project to proceed. The City reserves the right to approve or reject projects on a
case by case basis, taking into consideration established policies, project criteria, and
demand on city services in relation to the potential benefits from the project. Meeting
policy criteria does not guarantee the award of TIF to the project. Approval or denial of
one project is not intended to set precedent for approval or denial of another project.
II. OBJECTIVES OF TAX INCREMENT FINANCING
As a matter of adopted policy, the City will consider using TIF for Housing to assist
private development projects to achieve one or more of the following objectives:
• To retain local jobs and /or increase the number and diversity of jobs that offer
stable employment and /or attractive wages and benefits as defined in the City's
Business Subsidy Policy.
• To encourage additional unsubsidized private development in the area, either
directly or indirectly through "spin off' development.
• To facilitate the development process and to achieve development on sites
which would not be developed without TIF assistance.
• To remove blight and /or encourage redevelopment of commercial and
industrial residential areas in the city that result in high quality redevelopment
and private reinvestment.
• To offset increased costs of redevelopment (i.e. contaminated site clean up)
over and above the costs normally incurred in development.
• To create opportunities for affordable housing.
• To contribute to the implementation of other public policies, as adopted by the
city from time to time, such as the promotion of quality urban or architectural
design, energy conservation, and decreasing capital and /or operating costs of
local government.
City of Elk River Tax Increment Financing Policy & Application- Housing p p w E A E @ B 1
Amended DATE
Page 3 of 16 NATURE
• To enhance and diversify the City of Elk River's economic basehousing stock.
• To significantly increase the City of Elk River's tax base.
III. POLICIES FOR THE USE OF HOUSING TIF
a. When possible, TIF shall be used to finance public improvements associated
with the project. The priority for the use of TIF funds is:
1. Public improvements, legal, administrative, and engineering costs.
2. Site preparation, site improvement, land purchase, and demolition.
3. Capitalized interest, bonding costs.
b. It is the City's policy to establish the following types of TIF districts:
1. Economic Development Districts
• It is desired that the project result in a minimum creation of
one full time job per $25,000 of TIF, or
• Result in a significant increase in the tax base.
2. Redevelopment Districts
• The market value of a redeveloped site shall increase by a
minimum of 50% of the current market value.
3. Housing Districts
• May be considered on a case -by -case basis.
Other types of TIF districts, along with specific criteria, may be considered
on a case -by -case basis.
c.b. TIF assistance will be provided to the developer upon receipt of the
increment by the City, otherwise referred to as the pay- asyougo method.
Requests for up front financing will be considered on a case -by -case basis.
d.c. A maximum of ten percent (10 %) of any tax increment received from the
district may be retained by the City to reimburse administrative costs.
e.d. Any developer receiving TIF assistance shall provide a minimum of ten
percent (10 %) owner cash equity investment in the project.
£e. TIF will not be used in circumstances where land and /or property price is in
excess of fair market value.
g.f. Developer shall be able to demonstrate a market demand for a proposed
project. TIF shall not be used to support purely speculative projects.
h.g. TIF will not be utilized in cases where it would create an unfair and
significant competitive financial advantage over other projects in the area.
i.h. TIF shall not be used for projects that would place extraordinary demands
on city services or for projects that would generate significant environmental
impacts.
City of Elk River Tax Increment Financing Policy & Application- Housing p 0 M E R E 0 8 Y
Amended DATE INATURE
Page 4 of 16
j.i. The developer must provide adequate financial guarantees to ensure
completion of the project, including, but not limited to: minimum assessment
agreements, letters of credit, personal guaranties, etc.
k.j. The developer shall adequately demonstrate, to the City's sole satisfaction, an
ability to complete the proposed project based on past development
experience, general reputation, and credit history, among other factors,
including the size and scope of the proposed project.
l.k. For the purposes of underwriting the proposal, the developer shall provide
any requested market, financial, environmental, or other data requested by
the City or its consultants.
m.1.All TIF proposals shall optimize the private development potential of a site.
IV. PROJECT QUALIFICATIONS
All Housing TIF projects considered by the City of Elk River must meet each of the
following requirements:
a. To be eligible for TIF, a project shall result in:
i. The new construction of a minimum of 25,000 square feet;
ii.i. A minimum increase of $37,500 per year in property taxes, excluding
the state portion; and
iii.ii. Have a market value of at least $1,250,000 upon completion.
b. The project shall meet at least one of the objectives set forth in Section II
and satisfy all the provisions set forth in Section III of this document.
c. The developer shall demonstrate that the project is not financially feasible
but for the use of TIF.
d. The project shall comply with all provisions set forth in the Tax Increment
Financing Act, Minnesota Statutes 469.124 to 469.134, inclusive, as amended,
and Statutes 469.174 to 469.1794, inclusive, as amended.
e. The project must be consistent with the City's Comprehensive Plan, Land
Use Plan, and Zoning Ordinances.
The project shall serve at least two of the following public purposes:
• Creation of jobs with livable wages and benefits.
• Significantly increase the City's tax base.
• Enhancement or diversification of the city's economic basehousing stock.
• Industrial dDevelopment that will spur additional private investment
in the area.
• Fulfillment of defined city objectives such as those identified in the
City's Comprehensive Plan and the City's Economic Development
Housing and Redevelopment Strategic Plan, among others.
City of Elk River Tax Increment Financing Policy & Application- Housing p p w E A E D 8 1
Amended DATE INATURE
Page 5of16
• Removal of blight or the rehabilitation of a high profile or priority
site.
V. SUBSIDY AGREEMENT & REPORTING REQUIRMENTS
All developers /businesses receiving Tax Increment assistance from the City of Elk
River shall may be subject to the provisions and requirements set forth by the City's
Business Subsidy Policy as amended and Minnesota Statutes Sections 116J.993 to
116J.995 (the "Minnesota Business Subsidy Law ").
VI. APPLICATION PROCESS FOR TIF
1. Applicant submits the completed application along with a $10,000 application
deposit, to be refunded for any portions not utilized if the tax increment project
does not proceed. The application deposit will be used toward the cost of
services provided in the evaluation of financial feasibility, establishment or
modification of the TIF district, and preparation of legal documents and
agreements. An additional deposit of $10,000 will be required for projects that
require meeting statutory eminent domain and /or redevelopment substandard
tests. Projects that demand professional services in excess of the initial deposit
shall be required to reimburse the City for the additional expenses.
2. City staff reviews the application and completes the Commercial - Industrial
and /or Housing Worksheets. The Application and Commercial - Industrial
and /or Housing Worksheets are primarily designed to score the desirability of
the proposed project. Industrial, Redevelopment and Housing projects will be
evaluated on a case -by -case basis and as the projects meet the city's desired
objectives.
3. Results of the Commercial- Industrial and /or Housing Worksheets are
submitted to the appropriate governing authorities (EDA or HRA) for
recommendation to the City Council of approval or denial of the request.
4. If preliminary approval is granted, the Tax Increment Financing Plan, along
with all necessary notices, resolutions are prepared by City staff and /or
consultants.
5. Notices are published and sent to the county and school board.
6. Public hearing(s) on the proposed request are held.
7. The City Council grants final approval or denial of the request.
City of Elk River Tax Increment Financing Policy & Application- Housing p p E R E l B 1
Amended DATE [NATURE
Page 6 of 16
VII. MEETING SCHEDULE
2015 Economic Development Authority & City Council Meeting Schedule
For Review of Business Subsidy Applications
APPLICATION
DEADLINE
1st Monday)
EDA Finance
Committee
(4th Tuesday)
EDA
(3`d Monday)
CITY
COUNCIL
3 d Monday)
Jan 5
Jan 20
Jan 20
Jan 5
Jan 27
Feb 17
Feb 17
Feb 2
Feb 24
Mar 16
Mar 16
Mar 2
Mar 24
Apr 20
Apr 20
Apr 6
Apr 28
May 18
Ma 18
May 4
May 26
Jun 15
Jun 15
Jun 1
Jun 23
Jul 20
Jul 20
Jul 6
Jul 28
Aug 17
Aug 17
Aug 3
Aug 25
Sep 21
Sep 21
Sep 8
Sep 22
Oct 19
Oct 19
Oct 5
Oct 27
Nov 16
Nov 16
Nov 2
Nov 24
Dec 21
Dec 21
Dec 7
Dec 29
Jan 19 2016
Jan 19 2016
ALL REQUIRED APPLICATION MATERIALS MUST BE SUBMITTED BY
THE DEADLINE OR YOUR APPLICATION WILL BE POSTPONED TO
THE NEXT MONTH
City of Elk River Tax Increment Financing Policy & Application- Housing =1N�AXWORRE] 1 1
Amended DATE
Page7of16
VI11. SAMPLE BUT-FOR ANALYSIS
City of Elk River Tax Increment Financing Policy & Application- Housing P 0 E 0 E 0 1 1
Amended DATE INATURE
Page 8 of 16
WITH NO
WITH
TAX ABATEMENT
TAX ABATEMENT
SOURCES AND USES
SOURCES AND USES
SOURCES
SOURCES
Mortgage
9,600,000
8,667,000
Equity
2,400,000
2,400,00
Tax Abatement
0
933,000
TOTAL SOURCES
12,000,000
12,000,000
USES
USES
Land
1,500,000
1,500,000
Site Work
300,000
300,000
Soil Correction
468,000
468,000
Demolition
100,000
100,000
Relocation
65,000
65,000
Subtotal Land Costs
2,433,000
2,433,000
Construction
6,750,000
6,750,000
Finish Manufacturing
250,000
250,000
Subtotal Construction Costs
7,000,000
7,000,000
Soft Costs
350,000
350,000
Taxes
35,000
35,000
Finance Fees
850,000
850,000
Project Manager
542,000
542,000
Developer Fee
540,000
540,000
Contingency
250,000
250,000
Subtotal Soft Costs
2,567,000
2,567,000
TOTAL USES
12,000,000
12,000,000
Income Statement
Income Statement
Sq. Ft.
Per Sq. Ft.
Sq. Ft.
Per Sq. Ft.
Rent -Space 1
100,000 $8.00
800,000
100,000 $8.00
800,000
Rent -Space 2
25,000 $8.50
212,500
25,000 $8.50
212,500
Rent -Space 3
25,000 $9.00
225,000
25,000 $9.00
225,000
Other
0 $0.00
0
0 $0.00
0
1,237,500
1,237,500
Mortgage
20 Term
1,051,646
20 Term
949,439
9.00% Interest
9.00% Interest
9,600,000 Principal
8,667,000 Principal
Net Income
185,854
288,061
Total Return on Equity
7.74%1
12.00%
City of Elk River Tax Increment Financing Policy & Application- Housing P 0 E 0 E 0 1 1
Amended DATE INATURE
Page 8 of 16
2015 Financial Incentive
El Application
River Housing Tax Increment Financing
I. PROJECT INFORMATION
Property Information (Please print)
Address: Parcel Number: 75 -
The project will be:
Industrial: New Construction Expansion Redevelopment / Rehab.
Office /research facility that conforms to Business Park zoning standards
Commercial Redevelopment or Rehabilitation
Other
The project will be:
If Leased Space
Owner Occupied Leased Space
Percent Occupied 6 months after Certificate of Occupancy
Total Amount of Tax Increment Requested: $ over years.
City Portion:
County Portion:
ISD 728 Portion:
Current Real Estate Taxes on Project Site:
Annual $ Total $
Annual $ Total $
Annual $ Total $
Estimated Real Estate Taxes upon Completion: Phase I $ Phase II $
Construction Start Date Construction Completion Date
Percent of project complete on December 31, current year.
11. CONTACT INFORMATION
Public Information Notice
Generally, correspondence to and from Staff is considered public information. Specific data related
to a financial assistance request is deemed not public: Financial Information, Financial Statements,
Net worth Calculations, Business Plans, Income and Expense projections, Balance Sheets, Customer
Lists, Income Tax returns. When public financial assistance is received, only the following remains
not public: Business Plans, Income and Expense projections, Customer lists, Income tax returns,
design, market, and feasibility studies not paid for with public funds. The city does allow an
applicant to submit sensitive financial information directly to the City's financial consultant, for
additional security.
Property Owner Information (Pleaseprint)Name:
mail address:
City of Elk River Tax Increment Financing Policy & Application- Housing
Amended DATE
Page 9 of 16
E-
P 0 1 E R E 0 1 1
NATURE
Address:
Street
Phone:
Legal Name of Business:
Check One:
Federal ID #
City
Proprietor Corporation
Agent Information (print) Same as Property Owner ❑
Name:
Address:
Strcct
Phone (w):
III. SIGNATURE
I certify that
(Business name)
State ID #
State Zip Code
Partnership
Different, as below ❑ (Check one)
E -mail address:
City
State Zip Code
is defined as a Small Business, For - Profit and is not a religious,
Political, Casino, Sports Facility, or Pornographic Enterprise. I further certify that all information
provided in this application is true and correct to the best of my knowledge. I authorize the city of
Elk River and the Finance Committee to check credit references and verify financial and other
information. I further agree, if approved, to the loan security and guarantees required by the Subsidy
policy. I agree to provide any additional information as may be requested by the city.
Agreement to Pay Costs of Review
It is the policy of the City of Elk River to require applicants to pay costs incurred by the City in
reviewing and acting upon applications, so that these costs are not borne by the taxpayers of the City.
These costs include all of the City's out -of- pocket costs for expenses, including the City's costs for
review of the application by the City's Financial Consultant and City Attorney, or other consultants,
recording fees, and necessary publication costs.
The application processing fees cover anticipated costs; costs incurred above the application fee will
be invoiced as they are incurred, and payment will be due within thirty (30) days. Application fees
are not refundable, though any unused portion is returned at the request of the applicant. If payment
is not received as required by this agreement, the City may suspend the application review process
and may deny the application for failure to comply with the requirements for processing the
application. Payment for costs will be required whether the application is granted or denied.
The undersigned has received the City's policy regarding the payment of costs of review, understands
that reimbursement to the City of costs incurred in reviewing the application will be required, agrees
to reimburse the City as required in the policy and make payment when billed by the City, and agrees
that the application may be denied for failure to reimburse the City for costs as provided in the
policy.
Note: All Major shareholders will be required to sign personal guarantees and a minimum
assessment agreement if up front financing of the project is required.
APPLICANT SIGNATURE:
City of Elk River Tax Increment Financing Policy & Application- Housing p 0 E 0 E B 0 C
Amended DATE INATURE
Page 10 of 16
TITLE: DATE:
IV. PUBLIC PURPOSE
It is the policy of the City of Elk River that the use of Tax Increment Financing should
result in a benefit to the public. Please indicate how this project will serve a public purpose:
Job Creation /Retention (Complete table in Section V).
New industrial development which will result in additional private
investment in the area.
_Enhancement and /or diversification of the City of Elk River's economic base.
_The project contributes to the fulfillment of the City's Economic Development
Strategic Plan.
_Removal of blight.
_Rehabilitation of a high profile or priority site.
_Significantly increase the City's tax base.
V. SOURCES & USES
SOURCES
Bank Loan
Other Private Funds
Owner Cash Equity
Fed Grant /Loan
State Grant /Loan
EDA Micro Loan
Tax Abatement
ID Bonds
TOTAL
USES
Land Acquisition
Site Development
Construction
NAME
Machinery & Equipment
Architectural & Engineering Fees
Legal Fees
Interest During Construction
Debt Service Reserve
Contingencies
TOTAL
AMOUNT
AMOUNT
VI. ADDITIONAL DOCUMENTATION AND CHECKLIST
Please provide one paper and one electronic copy of following: (Incomplete applications
will delay the review of an application)
A) Application deposit of $10,000, with any unused portion to be refunded if
project does not proceed.
City of Elk River Tax Increment Financing Policy & Application- Housing p 0 M E A E 0 0 1
Amended DATE NATURE
Page 11 of 16
Sources
B) Written Narrative: Please give a brief summary of your business, its products or
service, the project and how this subsidy will impact your project. The
narrative should include a statement demonstrating how the project meets the
public purpose in IV (above).
C) Business Plan. The business plan should include the following:
1. Description of Business
2. Ownership
3. Management
4. Date Established
5. Products /Services
6. Future Plans
7. Market for Business
D) Project Proforma'
1. Sources and uses of funds to finance the project, and
2. Operating cash flow assumptions that include:
a. Projected revenues,
b. Operating expenses,
c. Net operating income, and
d. Annual debt service and loan payments.
E) Financial Statements for previous Two Years and the Current year to date'
Profit & Loss Statement
Balance Sheet
F) Financial Projections for Term of abatement, up to 10 Years'
G) Personal Financial Statements of all Major Shareholders, Partners, Guarantors
11) Letter of Commitment from Applicant Pledging to Complete
During the Proposed Project Duration
I) Letter of Commitment from the Other Sources of Financing,
Stating Terms and Conditions of their Participation in Project Completion
J) Written statement of contact information (Name, Company, Address, Email,
Phone, Fax) for project team, including: Attorney, Accountant, Financing
(lenders, partners, etc...), Parent Company, Architect
' Sensitive financial documents, while not -public information, may be submitted directly to the City's
financial consultant by signing the attached confidentiality agreement, for additional confidentiality.
The attached Confidentiality Agreement may be signed and included with the application.
City of Elk River Tax Increment Financing Policy & Application- Housing p D N E D E D D r
Amended DATE INATURE
Page 12 of 16
I) Construction Plans and Itemized Project Construction Statement
L) Attach the following do(
Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E
.umentation as Exhibits
— Corporation /Partnership Description
— List of Shareholders /Partners
— But -For Analysis
— List of Prospective Lessees (if applicable)
— Legal Description
NV Site and Construction Plans
City of Elk River Tax Increment Financing Policy & Application- Housing p 0 w E A E 0 8 Y
Amended DATE INATURE
Page 13 of 16
CONFIDENTIALITY AGREEMENT
(Sample Agreement)
This agreement is made this day of , 20_, by and between
, a company, hereinafter "Developer," and
Springsted Incorporated, a Minnesota corporation, hereinafter "Springsted."
WHEREAS, Developer is (description of project), hereinafter the "Project,"
pursuant to a (form of agreement) with
(public entity), hereinafter the "City," dated ;
and
WHEREAS, Springsted has been hired by the City to investigate certain financial aspects of the
Developer and the Project; and
WHEREAS, in conjunction with such investigation, Springsted desires to examine the financial
information of Developer relative to Developer and the Project; and
WHEREAS, Developer is willing to disclose such information only on the condition that such
information be kept confidential.
NOW, THEREFORE, in consideration of the terms and mutual covenants contained herein, the
parties agree as follows:
1. Developer agrees to make its financial information, development pro forma and
projection, budget information, and such other financial information concerning the
Project as Springsted may reasonably request, hereinafter the "Information," available
for inspection by Springsted, but solely for the purpose set forth above.
2. Springsted shall accept the Information in strict confidence solely for that purpose
and shall make no other use of the information, or disclose it to any other person or
party, including the City, without the express written consent of Developer.
Notwithstanding the foregoing, Springsted may use the Information in summary form
only to report its findings to the City provided that Springsted first presents its proposed
report to Developer and obtains Developer's written consent to ensure that no
inadvertent disclosures of confidential information or other inaccurate information are
contained in such report.
3. Inspection of the Information shall take place in such manner and at such place and
time as the parties may agree. The Information shall not be copied, duplicated,
abstracted, summarized or recorded, directly or indirectly, by any means whatsoever,
without the prior consent of Developer.
4. The Information shall remain the property of Developer, and any Information
provided in tangible form shall be returned to Developer upon completion of such
inspection. Any copies, duplications, abstracts, summaries or other recordings of the
Information made with Developer's consent shall be returned to Developer upon
demand.
5. Springsted agrees that any breach of the obligation of confidentiality imposed hereby
shall constitute irreparable harm to Developer and shall entitle Developer to equitable
relief enjoining any further breaches of this Agreement, together and in conjunction with
any and all such other remedies as may be available to Developer at law or in equity.
IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year first above
written.
DEVELOPER ...
By
Its
SPRINGSTED INC.
By
Its
City of Elk River Tax Increment Financing Policy & Application- Housing
Amended DATE
Page 14 of 16
IPDNERED DI'
NATURE
City of Elk River Tax Increment Financing Policy & Application- Housing P 0 W E 1 E B 1 C
Amended DATE ������
Page 15 of 16
IX. WORKSHEET- HOUSING PROJECTS
TO BE COMPLETED BY CITY STAFF
The project must meet the criteria set forth in Section IV of the City's Tax Increment
Financing policy to continue.
a) Meets minimum thresholds for size, value, and tax revenue.
b) Meets at least one of the objectives in Section II and satisfies
all of the provisions set forth in Section III.
c) Demonstrates need for TIF with the but for analysis.
d) Consistent with all city plans and ordinances.
e) Serves at least two public purposes as defined in Section IV (f).
1. Ratio of Private to All Public Investment in Project:
Points:
Greater than
7:1
10
$ Private investment
6:1
8
$ Public Investment
5:1
6
Ratio Private: Public Financing
4:1
4
3:1
2
Less than
3:1
1
2. Project provides housing that is restricted
Points:
to persons 55 years and older:
10
3. Market Value /Tax Base Generation:
Points:
Project will result in an estimated
market value per unit
$135,000 /Unit
5
(land and building) of
$125,000 /Unit
4
$115,000 /Unit 3
$105,000 /Unit 2
$ 95,000 /Unit 1
4. Project proposes rehabilitation of existing
housing, housing stock, and maximizes
utilization of existing infrastructure: Points:
10
5. Project proposes a location near existing
jobs, transportation, recreation, retail services,
social services, and schools: Points:
3
6. Project includes community/ neighborhood: Points:
facility (pool, community center, etc.)
Points based on scale of improvement (1 -5)
9. Type of Housing Project:
100% Owner Occupied
Investment Property
10. Likelihood that the project will result in
unsubsidized, spin -off development.
Yes 5
Points:
Sub - Total Points: of a possible 50 points.
2
1
Points:
High 5
Moderate 3
Low 1
11. Bonus Points Bonus Points:
The project will be 100% Pay- asyougo TIF. -5 points
The project does not require modification to land use plan. 2 points
The project contributes to the goals of Energy City. 2 points
• Product promotes sensible use of energy, OR
• Project utilizes significant energy efficient design & /or
materials in construction.
Total Points:
Overall project analysis: Rank Points Max eligible
High 45 -50 points 100%
Moderate 37 -44 points 85%
Low 30 -36 points 65%
Not Eligible 0 -29 points