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C. PUBLIC PURPOSE <br /> ~t is the policy o£ the City o£ Elk River that the use o£Tax Rebate Financing should <br /> result in a benefit to the public. Please indicate how this project will serve a public <br /> purpose. <br /> .lob Creation: Number of existing jobs <br /> Number o£jobs created by project <br /> Average hourly wage o£jobs created <br /> __Netv industrial development which will result in additional private <br /> investment in the area. <br /> __Enhancement and/or diversification of the city's economic base. <br /> The project contributes to the fulfillment of the City's Strategic <br /> Plan for Economic Development. <br /> __Removal of blight. <br /> __Rehabilitation of a high profile or priori~ site. <br /> Other: <br /> <br />D. SOURCES & USES <br /> <br />SOURCE~ <br />Bank Loan <br />Other Private Funds <br />Equity <br />Fed Grant/Loan <br />State Grant/Loan <br />EDA Micro Loan <br />Tax Rebate Financing <br />ID Bonds <br />TOTAL <br /> <br />NAME AMOUNT <br /> <br /> USES <br />Land Acquisition <br />Site Development <br />Construction <br />Machine~ & Equipment <br />Architectural & Engineering Fees <br />Legal Fees <br />Interest During Construction <br />Debt Service Reserve <br />Contingencies <br />TOTAL <br /> <br />AMOUNT <br />$ <br />$. <br />$. <br /> <br />$ <br />$. <br />$ <br />$ <br />$ <br /> <br />9 <br /> <br /> <br />