Laserfiche WebLink
IX. TAX ABATEMENT APPLICATION REVIEW WORKSHEET <br />TO BE COMPLETED BY CITY STAFF <br />1. The project meets the criteria set forth in Section V of the Tax Abatement policy. <br />a) Meets at least one of the objectives in Section III. <br />b) Demonstrates need for Tax Abatement with the but for analysis. <br />c) Consistent with all city plans and ordinances. <br />d) Serves at least two public purposes as defined in Section V(~. <br />2. Ratio of Private to All Public Investment in Project: Points: <br />Private Investment 5:1 5 <br />$ Public Investment 4:1 4 <br />Ratio Private: Public Financing 3:1 3 <br />2:1 2 <br />Less than 2:1 1 <br />3. Job Creation in the City of Elk River: Points: <br />Number of new jobs as a result of the project. 25+ 5 <br />Number of existing/retained jobs 20+ 4 <br />Total 15+ 3 <br />10+ 2 <br />Less than 10 1 <br />4. Ratio of Public Investment to Job Creation: Points: <br />$ Public Investment $8,000 or less 5 <br />Number of new jobs created/retained $10,000 or less 4 <br />$ of Public Investment per ne~v job $12,000 or less 3 <br />$15,000 or less 2 <br />Over $15,000 1 <br />5. Wage Level of new jobs created/retained Points: <br />Minimum hourly wage Over $21 /hour 5 <br />of jobs created/retained: $18-21 /hour 4 <br /> $14-17 /hour 3 <br /> $10-13 /hour 2 <br /> Under $10 /hour 1 <br />G. Project size: Points: <br />The project will result in the construction 40,000+ 5 <br />of square feet 30,000+ 4 <br /> 20,000+ 3 <br /> 10,000+ 2 <br /> 10,000 or less 1 <br />City of L.lk River <br />Tax Abatement Policy <br />] ~~ Draft Amended March 2006 <br />_ 12_ <br />