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e. The project must be consistent with the city's Comprehensive Plan,Land <br /> Use Plan,and Zoning Ordinances. <br /> f. A Non-Housing project shall serve at least two of the following public <br /> purposes: <br /> • Creation of jobs with livable wages and benefits. <br /> • Significantly increase the city's tax base. <br /> • Enhancement or diversification of the city's economic base. <br /> • Industrial development that will spur additional private investment in <br /> the area. <br /> • Fulfillment of defined city objectives such as those identified in the <br /> city's Comprehensive Plan and the city's Economic Development <br /> Strategic Plan, among others. <br /> • Removal of blight or the rehabilitation of a high profile or priority <br /> site <br /> g. A Housing Project shall serve at least two of the following public purposes: <br /> • Enhancement or diversification of the city's housing stock. <br /> • Development that will spur additional private investment in the area. <br /> • Fulfillment of defined city objectives such as those identified in the <br /> city's Comprehensive Plan and the city's Housing and <br /> Redevelopment Strategic Plan, among others. <br /> • Removal of blight or the rehabilitation of a high profile or priority <br /> site. <br /> VII. SUBSIDY AGREEMENT & REPORTING REQUIRMENTS <br /> All developers/businesses receiving Tax Increment Financing assistance from the <br /> city of Elk River shall be subject to the provisions and requirements set forth by the <br /> city's Business Subsidy Policy as amended and Minnesota Statutes Sections 116J.993 <br /> to 116J.995 (the "Minnesota Business Subsidy Law"),if applicable. <br /> VIII. PUBLIC INFORMATION NOTICE <br /> Generally, correspondence to and from Staff is considered public information. <br /> Specific data related to a financial assistance request is deemed not public: (e.g.) <br /> Financial Information, Financial Statements,Net worth Calculations, Business Plans, <br /> Income and Expense projections,Balance Sheets, Customer Lists, Income Tax <br /> returns. When public financial assistance is received, only the following remains not <br /> public: Business Plans,Income and Expense projections, Customer lists,Income tax <br /> returns,design,market, and feasibility studies not paid for with public funds. The <br /> city allows an applicant to submit sensitive financial information directly to the city's <br /> financial consultant, for additional security. <br /> City of Elk River Tax Increment Financing Policy&Application . . <br /> N E H E D B T <br /> Amended March 2017 <br /> Page 7 of 15 A URE <br />