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<br />City of Elk River Tax Abatement Policy & Application <br />Amended February 2014 <br />Page 9 of 15 <br /> <br /> <br />B. PROJECT INFORMATION <br />1. The project will be: <br />____Industrial: ____New Construction ____ Expansion Redevelopment / Rehab. <br /> Office/research facility that conforms to Business Park zoning standards <br />____Commercial Redevelopment/Rehabilitation <br />____Other <br /> <br />2. In addition to the City of Elk River, applicant is requesting Tax Abatement from: <br /> __ Sherburne County _ School District 728 <br /> <br />3. The project will be: ___Owner Occupied ____Leased Space <br /> <br />4. Project Address <br />Parcel Identification Number(s) <br /> <br />5. Site Plan and Construction Plans Attached: ____ Yes ____ No <br /> <br />6. Total Amount of Tax Abatement Requested: $ over years. City Portion: Annual $ Total $ County Portion: Annual $ Total $ ISD 728 Portion: Annual $ Total $ <br />7. Current Real Estate Taxes on Project Site: $ <br />Estimated Real Estate Taxes upon Completion: Phase I $ Phase II $ <br /> <br />8. Construction Start Date: ______ <br />Construction Completion Date: ____ <br />If Phased Project: Year __ % Completed <br /> Year ______ % Completed <br /> <br />C. PUBLIC PURPOSE <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 />purpose. <br />___Job Creation/Retention Number of existing jobs <br /> Number of jobs created by project <br /> Average hourly wage of jobs created/retained <br />___New industrial development which will result in additional private <br /> investment in the area. <br /> _Enhancement and/or diversification of the City of Elk River’s economic base. <br />___The 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.