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B. PROJECT INFORMATION <br />1. The project will be <br />Industrial Greenfield: New Coastmcfion <br />Commercial Redevelopment: _New Construction <br />-Industrial Redevelopment: _New Construction <br />Other <br />2. The project will be: -Owner Occupied Leased Space <br />3. Project Address <br />Legal Description & Parcel Identification Number(s) <br />Expansion <br />Rehabilitation <br />Rehabilitation <br />4. Site Plan and Preliminary Construction Plans Attached: <br />5. Amount of Tax Increment Requested fox: <br />Land Purchase <br />Public Improvement', <br />Site Improvement <br />6. Current Real Estate Taxes on Project Site: $ <br />Estimated Real Estate Taxes upon Completion: <br />7. Construction Start Date: <br />Construction Completion Date: <br />If Phased Project: <br />Year % Completed <br />Year % Completed <br />C. PUBLIC PURPOSE <br />It is the policy of the City of Elk River that the use of Tax Increment Financing should <br />result in a benefit to the public. Please indicate how this project will serve a public <br />purpose. <br />Job Creation/Retention: Number of existing jobs <br />Number of jobs created by project <br />Average hourly wage of jobs created/retained <br />_New industrial development, which will result in additional private <br />investment in the area. <br />-Enhancement or diversification of the city's economic base. <br />-The project contributes to the fulfillment of the City's Economic Development <br />Strategic Plan. <br />-Removal of blight ox the rehabilitation of a high profile ox priority site. <br />_Sigrtificantly increase the City's tax base. <br />Other: <br />City of Elk River <br />Tax Increment Policy & Application <br />1`~ Draft Modified Apri12006 <br />Yes No <br />Phase I $ <br />Phase II $ <br />Page 12 of 14 <br />