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X ` `. TAX INCREMENT FINANCING APPLICATION REVIEW <br /> WORKSHEET- HOUSING PROJECTS <br /> TO BE COMPLETED BY CITY STAFF <br /> The project must meet the criteria set forth in Section IV of the City's Tax Increment <br /> Financing policy to continue. <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 IV(I). <br /> 1. Ratio of Private to All Public Investment in Project: Points: <br /> Greater than 7:1 10 <br /> $ Private investment 6:1 8 <br /> $ Public Investment 5:1 6 <br /> Ratio Private:Public Financing 4:1 4 <br /> 3:1 2 <br /> Less than 3:1 1 <br /> 2.Project provides housing that is restricted Points: <br /> to persons 55 years and older: 10 <br /> 3. Market Value/Tax Base Generation: Points: <br /> Project will result in an estimated <br /> market value per unit $135,000/Unit 5 <br /> (land and building) of $125,000/Unit 4 <br /> $115,000/Unit 3 <br /> $105,000/Unit 2 <br /> $ 95,000/Unit 1 <br /> 4.Project proposes rehabilitation of existing <br /> housing,housing stock,and maximizes <br /> utilization of existing infrastructure: Points: <br /> 10 <br /> 5.Project proposes a location near existing <br /> jobs,transportation,recreation,retail services, <br /> social services,and schools: Points: <br /> 3 <br /> City of Elk Rives Tax Increment Financing Policy&Application R N N E R E 0 9 <br /> Amended Febfuafy 2014 INATURIE <br /> Page 25 of 15 <br />