Section 280.420 - Eligibility of projects for financing; standards; ordinance for applicationsPrior to exercising any power granted by ORS 280.410 to 280.485 the governing body of a city shall:
(1) Adopt by ordinance standards to determine the eligibility of economic development projects. In determining such standards, the governing body shall consider all relevant data without giving priority to one factor over others. The governing body may consider but is not limited to the following:(a) Density of use and potential impact in the area affected by the proposed project;(b) City's ability to support other needed services resulting from economic development projects;(c) Effect of economic development projects on balanced economic development of the city;(d) Employment opportunities; and(e) Suitability of various areas in the city for particular types of economic development projects.(2) Adopt by ordinance procedures for the acceptance and processing of applications for consideration of the eligibility of economic development projects. The ordinance shall state what city officers shall receive such applications and shall provide for the content of any application form.