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IX. TAX INCREMENT FINANCING APPLICATION REVIEW <br />WORKSHEET <br />TO BE COMPLETED BY CITY STAFF <br />1. The project meets the criteria set forth in Section IV of the City's Tax Increment <br />Financing policy. <br />a) Meets minimum thresholds fox size, value, and tax revenue. <br />b) Meets at least one of the objectives in Section II and satisfies <br />the provision set forth in Section III. <br />c) Demonstrates need fox TIF with the but for analysis. <br />e) Consistent with all city plans and ordinances. <br />f) Serves at least two public purposes as defined in Section IV. <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 /> Nutnbex of new jobs as a result of the project. 40+ 5 <br /> Number of existing/retained jobs divided by 10. 30+ 4 <br /> Total 20+ 3 <br /> 10+ 2 <br /> Less than 10 1 <br />4. Ratio of Public Investment to Job Creation: Points: <br />$ Public Investment $15,000 ox less 5 <br /> Number of new jobs created/retained $20,000 ox less 4 <br />$ Public Investment per new job $22,000 ox less 3 <br /> $25,000 ox less 2 <br /> Over $25,000 1 <br />5. Wage Level of new jobs created/retained: Points: <br />Mi nimum hourly wage Over $21 /hou r 5 <br />of jobs created/retained: $18-21 /hoax 4 <br /> $14-17 /hour 3 <br /> $10-13 /hoax 2 <br />Under $10 /hour 1 <br />6. Project size: Points: <br />The project will result in the construction 80,000+ 5 <br />of square feet 65,000+ 4 <br />50,000+ 3 <br />35,000+ 2 <br />25,000+ 1 <br />City of Elk River <br />Tax Increment Policy & Application <br />1" Draft Modified April 2006 Page 16 of 14 <br />