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B. PROJECT INFORMATION <br />1. Xroject will be: <br />ndstrial: 4 New Construction � Expansion _Redevelopment / Rehab. <br />ffice/research facility that conforms to Business Park zoning standards <br />_Commercial Redevelopment/Rehabilitation <br />_Other <br />2. In a dition to the City of Elk River, applicant is requesting Tax Abatement from: <br />Sherburne County School District 728 <br />3. The project will be: ^ Owner Occupied _Leased Space <br />4. Project Address <br />Parcel Identification <br />10155 170 <br />5. Site Plan and Construction Plans Attached: .? Yes No <br />6. Total Amount of Tax Abatement Requeste : $ I �� 0 5 over 10—year s. <br />City Portion: Annual $ 1 o i Total $ 17 , W5 (15 4 K <br />County Portion: Annual $ 0 Total $ 461, 00 <br />ISD 728 Portion: Annual $ Total $ <br />7. Current Real Estate Taxes on Project Site: $ <br />Estimated Real Estate Taxes upon Completion: Phase I $ �✓ 11 <br />Phase II $ <br />8. Construction Start Date: <br />Construction Completion Date: <br />If Phased Project: <br />C. PUBLIC PURPOSE <br />61 AWI �)I, tiol5 <br />_Year % Completed <br />_Year % Completed <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 />puj� ose. <br />Job Creation/Retention Number of existing jobs FTE � Wo"Ai pdorsze. <br />Number of jobs created by project 95 FTL— <br />Average hourly wage of jobs created/retained 2-7.11 <br />New industrial development which will result in additional private <br />-ivestment in the area. <br />nhancement and/or diversification of the City of Elk River's economic base. <br />TThe project contributes to the fulfillment of the City's Economic Development <br />Strategic Plan. <br />Removal of blight. <br />Rehabilitation of a high profile or priority site. <br />Significantly increase the City's tax base. <br />Page 9 of 14 Pa N EE H E a 1t <br />NAWREJ <br />