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B. PROJECT INFORMATION <br />1. The project will b <br />XIndustrial: lNew Construction _ Expansion _Redevelopment / Rehab. <br />--Office/research facility that conforms to Business Park zoning standards <br />_Commercial Redevelopment/Rehabilitation <br />2. In ddition to the City of Elk River, applicant is requesting Tax Abatement from: <br />Sherburne County School District 728 <br />3. The project will be: X Owner Occupied _Leased Space <br />4. Project Address II75 158th LII -SIC NW. 51k-FiV154., MC455330 <br />Parcel Identification Number(s) 15 '611- 0 0 <br />5. Site Plan and Construction Plans Attached: Yes —No <br />6. Total Amount of Tax Abatement Requested: S I 2 1 5 uver 1 y� s.\ <br />City Portion: Annual $_ �11 O�Total $ 5,14x4 (12 a <br />County Portion: Annual $_ 11 5I—Total $ 15q 0 (10 it -5 <br />ISD 728 Portion: Annual $ Total <br />7. Current Real Estate Taxes on Project Site: $ d 641,. D <br />Estimated Real Estate Taxes upon Completion: Phase 1 <br />y Phase Il $ f <br />8. Construction Start Date: e (it. NO V t 1 fop I b <br />Construction Completion Date: PIt- I ki 9 7.0 h <br />If Phased Project: Year % Completed <br />Year % Completed <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. i Q (hCW iv 1 <br />ob Creation/Retention Number of existing jobs % I k tai VGF <br />Number of jobs created by project <br />Average hourly wage of jobs create0 <br />ANew 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. N/A <br />Rehabilitation of a high profile or priority site. <br />--X-Significantly increase the City's tax base. <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br />9- <br />