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<br />City of Elk River Tax Increment Financing Policy & Application <br />Amended February 2014 <br />Page 8 of 15 <br />B. PROJECT INFORMATION <br />1. The project will be: <br /> ____Industrial Greenfield: ____New Construction ____ Expansion <br /> ____Commercial Redevelopment: ____New Construction ____ Rehabilitation <br /> ____Industrial Redevelopment: ____New Construction ____ Rehabilitation <br /> ____Other <br /> <br />2. The project will be: ___Owner Occupied ____Leased Space <br /> <br />3. Project Address <br /> Legal Description & Parcel Identification Number(s) <br /> <br /> <br /> <br />4. Site Plan and Preliminary Construction Plans Attached: ____ Yes ____ No <br /> <br />5. Amount of Tax Increment Requested for: <br /> Land Purchase $ <br /> Public Improvement $ <br /> Site Improvement $ <br /> <br />6. Current Real Estate Taxes on Project Site: $ <br /> Estimated Real Estate Taxes upon Completion: Phase I $ <br /> Phase II $ <br /> <br />7. Construction Start Date: <br /> Construction Completion Date: <br /> If Phased Project: Year ____ % Completed <br /> Year ___ % Completed <br /> <br />C. PUBLIC PURPOSE <br />It is the policy of the City of Elk River that the use of Tax Increment Financing should <br />result in a benefit to the public. Please indicate how this project will serve a public <br />purpose. <br />___Job Creation/Retention: Number of existing jobs <br /> Number of jobs created by project <br /> Average hourly wage of jobs created/retained <br />___New industrial development, which will result in additional private <br />investment in the area. <br /> ___Enhancement or diversification of the city’s economic base. <br />___The project contributes to the fulfillment of the City’s Economic Development <br /> Strategic Plan. <br />___Removal of blight or the rehabilitation of a high profile or priority site. <br />___Significantly increase the City’s tax base. <br />___Other: <br /> <br /> <br /> <br />