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B. PROJECT INFORMATION <br /> 1. The project will be: <br /> Industrial Greenfield: New Construction Expansion <br /> Commercial Redevelopment New Construction Rehabilitation, <br /> Industrial Redevelopment: New Construction Rehabilitation <br /> __X_0 Residential X New Construction <br /> 2. The project will be: _Owner Occupied —2L—Leased Space <br /> 3. Project Address 183rd NW at Yankton Elk River MN <br /> Legal Description&Parcel Identification Number(s) , <br /> Lots 1-41,BL 1,West Oaks Third Addition and Outlot A,West Oaks Fourth <br /> Addition <br /> 4. Site Plan and Preliminary Construction Plans Attached: X Yes No <br /> 5. Amount of Tax Increment Requested for: (See attached worksheet) <br /> Land Purchase$ 0 <br /> Public Improvement$ 0 <br /> Site Improvement$ 1,481.404 _ <br /> (Based upon 15 yrs with 3%trending) <br /> 6. Current Real Estate Taxes on Project Site: $ 6,000.00 <br /> Estimated Real Estate Taxes upon Completion: Phase I $ 4.500 <br /> Phase II$ incl <br /> 7. Construction Start Date: September 2013 <br /> Construction Completion Date: August 2014 _ <br /> If Phased Project: N A Year %Completed <br /> Year % Completed <br /> C. PUBLIC PURPOSE <br /> It is the policy of the City of Elk River that the use of Tax Increment Financing should <br /> result 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 0 <br /> Number of jobs created by project 73 lmpg=and 3 on gaLng <br /> Average hourly wage of jobs created/retained $25.00 <br /> `New industrial development,which will result in additional private <br /> investment in the area. <br /> _Enhancement or diversification of the city's economic base. <br /> The project contributes to the fixlfillment of the City's Economic Development <br /> Strategic Plan. <br /> _Removal of blight or the rehabilitation of a high profle or priority site. <br /> Significantly increase the City's tax base. <br /> X Other: Create affordable ho for area Senior Citizens <br /> Page 8 of 13 <br /> ► I1EE I E 1 I r <br /> NA <br />