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IX. TAX INCREMENT FINANCING APPLICATION REVIEW <br /> WORKSHEET - COMMERCIAL/INDUSTRIAL PROJECTS <br /> TO BE COMPLETED BY CITY STAFF <br /> 1. The project meets the criteria set forth in Section IV of the City's Tax Increment <br /> Financing policy. <br /> a) Meets minimum thresholds for size,value, and tax revenue. <br /> b) Meets at least one of the objectives in Section II and satisfies <br /> all of the provisions set forth in Section III. <br /> c) Demonstrates need for TIF with the but for analysis. <br /> d) Consistent with all city plans and ordinances. <br /> e) Serves at least two public purposes as defined in Section N (f). <br /> 2. Ratio of Private to All Public Investment in Project: Points: <br /> $ Private investment 5:1 5 <br /> $ Public Investment 4:1 4 <br /> 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: <br /> Number of new jobs as a result of the project. 40+ 5 <br /> Number of existing/retained jobs divided by 2. 30+ 4 <br /> Total 20+ 3 <br /> 10+ 2 <br /> Less than 10 1 <br /> 4. Ratio of Public Investment to Job Creation: Points: <br /> S Public Investment $15,000 or less 5 <br /> Number of new jobs created/retained $20,000 or less 4 <br /> $ Public Investment per new job $22,000 or less 3 <br /> $25,000 or less 2 <br /> Over $25,000 1 <br /> 5. Wage Level of new jobs created/retained: Points: <br /> Minimum hourly wage Over $21/ hour 5 <br /> of jobs created/retained: $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 80,000+ 5 <br /> of square feet 65,000+ 4 <br /> 50,000+ 3 <br /> 35,000+ 2 <br /> 25,000+ 1 <br /> City of Elk River Tax Increment Financing Policy&Application p 0 W E R E 0 0 r <br /> Amended February 2014 <br /> Page 13 of 15 INAWRE <br />