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b. <br />Housing TIF Districts will primarily be utilized to assist housi <br />following priorities: <br />1. <br />Senior Housing: Rental housing in which at least 80% of the unit <br />are occupied by at least one resident who is 55 years of age or <br />older; <br />2. <br />Workforce Housing: Rental housing in which (i) at least 20% of t <br />units are occupied by residents whose family income does not <br />exceed 50% of the area median income and at least [60%] of the <br />units are occupied by residents whose family income does not <br />exceed [110%] of the area median income, or (ii) at least 40% of <br />the units are occupied by residents whose family income does not <br />exceed 60% of the area median income and at least [40%] of the <br />units are occupied by residents whose family income does not <br />exceed [110%] of the area median income; <br />3. <br />High Density Housing: (i) At least ___ rental housing units [wit <br />retail or commercial on the ground floor not to exceed 20% of <br />square footage of building] [located in the downtown area] or (ii) at <br />least ___ owner occupied housing units per acre <br />4. <br />Owner Occupied housing; <br />5. <br />Redevelopment: Housing developed on a site where significant <br />blighting conditions will be removed as a result of development; <br />6. <br />Priority Locations: Housing located in ______________ areas of <br />the City. <br />c. <br />Redevelopment and Renewal and Renovation TIF Districts will prim <br />utilized to assist development meeting the following priorities: <br />1. <br />Priority Locations: Development located in ______________ areas <br />of the City. <br />2. <br />Housing which meets one of the priority conditions listed in (b) <br />above. <br />3. <br />Commercial/industrial development which meets one of the <br />priority conditions listed in (d) below. <br />d. <br />Economic Development TIF Districts will primarily be utilized to <br />development meeting the following priorities: <br />1. <br />Priority Locations: Development located in ______________ areas <br />of the City. <br />2. <br />Quality Jobs: Development which creates (i) at least [2] jobs at <br />wage of $18+/hour per $1,000 of public assistance; (ii) at least[5] <br />jobs at a wage of $14+/hour per $1,000 of public assistance; or <br />at least [10] jobs at a wage of $11+/hour per $1,000 of public <br />assistance. <br />3. <br />Additional Tax Base: Development which creates an increase in <br />taxable market value of the property of at least ___%. <br />4. <br />Purpose: (i) Manufacturing, [(ii) research and development <br />combined with manufacturing, warehouse or distribution] or (iii) <br />development which creates at least __ jobs per square foot of <br />building area. <br />e. <br />When possible, TIF shall be used to prioritize projects that contribute to the <br />goals of Energy City by (i) promoting sensible use of energy, OR <br />City of Elk River Tax Increment Financing Policy & Application <br />Amended March 2017 <br />Page 4 of 22 <br />498942v2 JSB EL185-13 <br />