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C. PUBLIC 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 investment in area <br />Enhancement and/or diversification of the City of Big Lake's economic base <br />Removal of blight <br />Rehabilitation of a high profile or priority site <br />Significantly increase the City's tax base <br />D. SOURCES AND 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 Abatement $ <br />ID Bonds $ <br />TOTAL $ <br />USES <br />Land Acquisition AMOUNT <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 />It is the policy of the City of Big Lake that the use of Tax Abatement should result in a benefit to the <br />public. Please indicate how this project will serve a public purpose. <br />Abatement Application <br />Page 3 of 5