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PUBLIC PURPOSE <br />It is the policy of the city of Elk River that the use of Tax Increment Financing should result <br />in a benefit to the public. <br />A Non-Housing project shall serve at least two of the following public purposes: <br />Creation of jobs with livable wages and benefits. <br />Significantly increase the citys tax base. <br />Enhancement or diversification of the citys economic base. <br />Industrial development that will spur additional private investm <br />Fulfillment of defined city objectives such as those identified <br />Comprehensive Plan and the citys Economic Development Strategic Plan, <br />among others. <br />Removal of blight or the rehabilitation of a high profile or pri <br /> <br />A Housing Project shall serve at least two <br /> of the following public purposes: <br />Enhancement or diversification of the citys housing stock. <br />Development that will spur additional private investment in the area. <br />Fulfillment of defined city objectives such as those identified <br />Comprehensive Plan and the citys Housing and Redevelopment Stra <br />among others. <br />Removal of blight or the rehabilitation of a high profile or priority site. <br /> <br />Please indicate how this project will serve a public purpose: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />JOB CREATION/RETENTION <br /> <br />Number of existing jobs: <br />Number of jobs created by project: <br />Average hourly wage of jobs created/retained: <br />Job Creation/Retention <br /> Average Expected <br /> Number Hourly AnnualAre the Jobs Newly Hiring <br />Job Titleof Jobs WageSalary Created or Retained Date <br /> <br /> <br /> <br /> <br />City of Elk River Tax Increment Financing Policy & Application <br />Amended March 2017 <br />Page 13 of 22 <br />498942v2 JSB EL185-13 <br />