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C. PUBLIC PURPOSE <br /> It is the policy of the City of Elk River that the use of Tax Rebate Financing should <br /> • result in a benefit to the public. Please indicate how this project will serve a public <br /> purpose. <br /> Job Creation: Number of existing jobs <br /> Number of jobs created by project <br /> Average hourly wage of jobs created <br /> New industrial development which will result in additional private <br /> investment in the area. <br /> _Enhancement and/or diversification of the city's economic base. <br /> The project contributes to the fulfillment of the City's Strategic <br /> Plan for Economic Development. <br /> _Removal of blight. <br /> _Rehabilitation of a high profile or priority site. <br /> Other: <br /> D. SOURCES & USES <br /> SOURCES NAME AMOUNT <br /> Bank Loan $ <br /> Other Private Funds $ <br /> Equity $ <br /> Fed Grant/Loan $ <br /> • State Grant/Loan <br /> EDA Micro Loan <br /> Tax Rebate Financing $ <br /> ID Bonds $ <br /> TOTAL $ <br /> USES AMOUNT <br /> Land Acquisition $ <br /> Site Development $ <br /> Construction <br /> Machinery&Equipment $ <br /> Architectural& Engineering Fees $ <br /> Legal Fees $ <br /> Interest During Construction $ <br /> Debt Service Reserve $ <br /> Contingencies $ <br /> TOTAL $ <br /> • <br /> 9 <br />