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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 for Tax Abatement with the bat for analysis. <br />c) Consistent with all city plans and ordinances. <br />_ d) Serves at least two public purposes as defined in Section V(g). <br />_- 2.-Ratio of Private -to All-Pubiic- Investment -in Project- <br />Private Investment <br />$ U � ?U1 Public Investment <br />;A 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 />- Points ...._..__. <br />5:1 5 <br />4:1 4 <br />3:1 3 <br />2:1 2 <br />2:1 1 <br />Less than <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: <br />Points: <br />Public Investment <br />$8,000 or less 5 <br />a. Number of new jobs created /retained <br />$10,000 or less 4 <br />$ -5 of Public Investment per new job <br />$12,000 or less 3 <br />$15,000 or less 2 <br />Over $15,000 1 <br />5. Wage Level of new jobs created /retained <br />Points: <br />Minimum hourly wage t <br />Over $21/ hour 5 <br />of jobs created /retained: ` <br />$18 -21 / hour 4 <br />$14 -17 / hour 3 <br />$10 -13 / hour 2 <br />Under $10 / hour 1 <br />6. Project size: Points: <br />The project will result in the construction 40,000+ 5 <br />of square feet Iit1� 30,000+ 4 <br />20,000+ 3 <br />10,000+ 2 <br />10,000 or less 1 <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br />- 13- <br />