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C. POLICY CONSIDERATIONS AND PUBLIC PURPOSE <br /> It is the policy of the City of Elk River that the use of Tax Increment Financing should result in a benefit to the <br /> public. Please indicate how this project will serve a public purpose. <br /> Job Creation/Retention: <br /> 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 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 Strategic PlanPlan. <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 /> D. SOURCES & USES <br /> SOURCES NAME AMOUNT <br /> Bank Loan. $ <br /> Other Private Funds $ <br /> Owner Cash Equity $ <br /> Fed Grant/Loan $ <br /> State Grant/Loan $ <br /> EDA Micro Loan $ <br /> Tax Increment $ <br /> ID Bonds $ <br /> TOTAL $ <br /> USES AMOUNT <br /> Land Acquisition $ <br /> Site Development $ <br /> Construction $ <br /> Machinery&Equipment $ <br /> Architectural&Engineering Fees $ <br /> Legal Fees $ <br /> Interest During Construction $ <br /> Debt Service Reserve $ <br /> Contingencies $ <br /> TOTAL $ <br /> Page 7 of 8 <br />