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Other <br />2. In addition to the City of Elk River, applicant is requesting Tax Abatement from: <br />_x_ Sherburne County School District 728 <br />3. The project will be: –x—Owner Occupied Leased Space <br />4. Project Address 10846 170th CT NW, Elk river, MN 55330 <br />Lot 1, Block 3, Nature's Edge Business Center <br />Parcel Identification Number(s� 75- 8200305 <br />5. Site Plan and Construction Plans Attached: _X_ Yes No <br />6, Total Amount of Tax Abatement Requested: $ 1,153,878 over 12 years. <br />City Portion: Annual $ 45,656 $547,872 <br />County Portion: Annual $ 50,500* $ 606,006 <br />*this is an estimation based on the gap needed for the project to work; we <br />are open to discussing once the county amount is calculated. <br />7. Current Real Estate Taxes on Project Site: $ <br />Estimated Real Estate Taxes upon Completion: <br />8. Construction Start Date: August 2013 <br />Construction Completion Date: November 2013 <br />C. PUBLIC PURPOSE <br />It is the policy of the City of Elk River that the use of Tax Abatement should result <br />in a benefit to the public. Please indicate how this project will scrvc a public <br />purpose. <br />_X Job Creation /Retention Number of existing jobs 24 <br />Number of jobs created by project 8 -10 <br />Average hourly wage of jobs created /retained <br />$15.00 <br />X_New industrial development which will result in additional private <br />investment in the area. <br />X_Enhancement and /or diversification of the City of Elk River's economic base. <br />X--The project contributes to the fulfillment: of the Cit,>'s Economic Development <br />Strategic Plan.. <br />_Removal of blight. <br />_X—Rehabilitation of a higli profile or priority site. First development in <br />City of Ell: River <br />Ta\ Abatement Policy <br />Amended May 2006 ` 12- <br />