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X. 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 fox 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: <br />$ Private Investment <br />$ Public Investment <br />Ratio Private: Public Financing <br />Less than <br />3. Job Creation in the City of Elk River: <br />Number of new jobs as a result of the project. <br />Number of existing/retained jobs <br />Total <br />Less than <br />Points: <br />5:1 5 <br />4:1 4 <br />3:1 3 <br />2:1 2 <br />2:1 1 <br />Points: <br />25+ 5 <br />20+ 4 <br />15+ 3 <br />10+ 2 <br />10 1 <br />4. Ratio of Public Investment to Job Creation: Points: <br />$ Public Investment $8,000 ox less 5 <br />Number of new jobs created/retained $10,000 or less 4 <br />$ of Public Investment per new job $12,000 ox less 3 <br /> $15,000 ox 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 /hoax 1 <br />6. 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 ox less 1 <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br />13- <br />