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5, Amount of Tax Increment Requested fox: (See attached worksheet) . <br />Land Purchase $ 0.. . <br />Public Improvement $ 0 <br />Site Improvement $---1,481404 <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 $ 94.500 <br />Phase II incl <br />7. Construction Start Date: September 2013 <br />Construction Completion Date: August 2014 <br />If Phased Project: N/A ,'S'ear % Completed <br />Year % Completed <br />It is the policy of the City of Elie 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 <br />Number of jobs created by project 23 1=orary and 3 on goit�„ <br />Average hourly wage of jobs created/retained-__V5.00 <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 fulfillment of the City's Economic Development <br />Strategic Plan.. <br />,Removal of blight or the rehabilitation of a high profile or priority site. <br />Significantly increase the City's tax base. <br />-Z -Other: Create affordable housing for area Senior Citizens <br />Page 8 of 13 <br />p6EIEE 0Y <br />