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C. PUBLIC PURPOSE <br />It is the policy of the City of Elk River that the use of Tax Increment Financing should result in a <br />benefit to the public. Please indicate how this project will serve a public purpose. <br />X Job Creation/Retention: 2 <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 />X Enhancement or diversification of the city's economic base. <br />X The project contributes to the fulfillment of the City's Plan. <br />X Removal of blight or the rehabilitation of a high profile or priority site. <br />X Significantly increase the City's tax base. <br />X Other: Unbuildable site based on soil conditions <br />