Local Development Finance Authority

Purpose
The City of Fremont established the Local Development Finance Authority for the purpose of acquiring the additional land and expanding the Industrial Park with future infrastructure improvements. These improvements include, but are not limited to:

• Cable television with high-speed fiber optic access to the Internet
• Constructing
• Curbs and gutters
• Directional signage
• Drainage improvements
• Electrical power
• Excavating
• Grading
• Installing and equipping commercial all-season streets
• Natural gas
• Sanitary lift station(s)
• Sanitary sewers
• Stormwater collection and detention system
• Street lighting
• Telephone
• Watermains
• Wetland mitigation

Expansion Project
The Fremont Industrial Park expansion and improvement project incorporating a total of 148 acres was completed in mid-1997.

Plat Approval
The Fremont Industrial Park Plat was officially approved by the State in 1998. It consists of 32 industrial development lots and 3 city-owned outlots.

Development & Tax Increment Financing Plan
The city amended its Development and Tax Increment Financing Plan in September 2006. The purpose of the amended plan (outlined below) is to conduct, but not be limited to, the following activities, projects and services:

• Acquisition, construction, installation and financing of public or private improvements, infrastructure, public utilities, etc.
• Acquisition and development and disposition of necessary or desirable property
• Enhancement of amenities for owners and tenants in the Fremont Industrial Park by acquiring, installing, constructing, enhancing, replacing and financing improvements including, but not limited to:
  • Lighting (decorative, utility, security and other)
  • Signage (directional, locational, entryway, lot, regulatory and other)
  • Landscaping of public street rights-of-way and other publicly owned outlots and areas
  • Enhancement of natural areas, open space, woodlands, wetlands, agricultural and other lands
  • Park, picnic and wildlife/waterfowl viewing areas
  • Multi-modal paths, walking or nature trails, bike routes, sidewalks and other similar improvements
• Marketing, promotion, advertising and other similar efforts for the Industrial Park
• Administrative costs associated with the operations of the LDFA, including, but not limited to:
  • Accounting
  • Accounts payable/receivable
  • Auditing
  • Authority staffing and administrative/meeting services
  • Contracting
  • Engineering and design
  • Grant administration
  • Inspections
  • Purchasing
  • Testing

These activities, projects, services and improvements will facilitate the further and enhanced use of the Industrial Park by industrial and manufacturing firms, thereby creating economic growth and development in the Authority’s District as well as other areas of the community for the benefit of all taxing jurisdictions.