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MICROLOAN APPLICATION SCORING WORKSHEET <br />TO BE COMPLETED BY CITY STAFF <br />1. The project meets the criteria set forth in the appropriate the Microloan policy. <br />a) Meets at least one of the microloan objectives in Section 7; 6(e). <br />c) Consistent with all city plans and ordinances. <br />d) Meets the wage requirements as defined in the city's business subsidy policy. <br />2. Ratio of Private to All Public Investment in Project: <br />Points: <br />$ Private Investment <br />5:1 5 <br />$ Public Investment <br />4:1 4 <br />Ratio Private: Public Financing <br />3:1 3 <br />2:1 2 <br />Less than <br />2:1 1 <br />3. Job Creation in the City of Elk River: <br />Points: <br />Number of new jobs as a result of the project. <br />25+ 5 <br />Number of existing /retained jobs <br />20+ 4 <br />Total <br />15+ 3 <br />10+ 2 <br />Less than <br />10 1 <br />4. Ratio of Public Investrnent to Job Creation: <br />$ Public Investment <br />Number of new jobs created /retained <br />$ of Public Investment per new job <br />5. Wage Level of jobs created /retained or relocated <br />Minimum hourly wage <br />of jobs created /retained: <br />6. Project size: <br />The project will result in the construction <br />of square feet <br />16 <br />Points: <br />$8,000 or less 5 <br />$10,000 or less 4 <br />$12,000 or less 3 <br />$15,000 or less 2 <br />Over $15,000 1 <br />Points: <br />Over $21 /hour 5 <br />$18 -21 /hour 4 <br />$15 /hour 3 <br />Points: <br />40,000+ 5 <br />30,000+ 4 <br />20,000+ 3 <br />10,000+ 2 <br />10,000 or less 1 <br />EDA & City Council Approved April 17, 2017 <br />