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X. TAX ABATEMENT APPLICATION REVIEW WORKSHEET: <br /> Stonesthrow Properties, LLC <br /> TO BE COMPLETED BY CITY STAFF <br /> 1. The project meets the criteria set forth in Section V of the Tax Abatement <br /> policy. <br /> X a) Meets at least one of the objectives in Section III. <br /> X b) Demonstrates need for Tax Abatement with the but for analysis. <br /> X c) Consistent with all city plans and ordinances. <br /> X d) Serves at least two public purposes as defined in Section V (g). <br /> 2. Ratio of Private to All Public Investment in Project: Points: 5 <br /> $2,263,399 Private Investment 5:1 5 <br /> $336,601 Public Investment 4:1 4 <br /> 7:1 Ratio Private: Public Financing 3:1 3 <br /> 2:1 2 <br /> Less than 2:1 1 <br /> 3.Job Creation in the City of Elk River: Points: 5 <br /> 10 Number of new jobs as a result of the project. 25+ 5 <br /> 26 Number of existing/retained jobs 20+ 4 <br /> 36 Total 15+ 3 <br /> 10+ 2 <br /> Less than 10 1 <br /> 4. Ratio of Public Investment to Job Creation: Points: 4 <br /> $336,601 Public Investment $8,000 or less 5 <br /> 36 Number of new jobs created/retained $10,000 or less <br /> 4 <br /> $9,350 of Public Investment per new job $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 Points: 3 <br /> Minimum hourly wage Over$21/ hour 5 <br /> of jobs created/retained: $15 $18-21 / hour 4 <br /> $14-17 / hour 3 <br /> $10-13 / hour 2 <br /> Under$10 / hour 1 <br /> 6. Project size: Points: 0 <br /> The project will result in the construction 40,000+ 5 <br /> of square feet 0 30,000+ 4 <br /> 20,000+ 3 <br /> 10,000+ 2 <br /> 10,000 or less 1 <br />