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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 giver, MN 55330 <br /> Lot 1, Block 3, Nature's Edge Business Center <br /> Parcel Identification Number(s� 75-820-0305 <br /> 5. Site Plan and Construction Plans Attached: X Yes No <br /> 6. Total Amount of Tax Abatement Requested: $ 1153,878 over 12 years. <br /> Ciry Portion: Annual $45,656 $ 547, 872 <br /> County Portion: Annual S 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 serve 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 City'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 Elk River <br /> Tax Ahaternent Policy <br /> Amended May 2006 - 12- <br />