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assistance as requested to include land write down due to debt financing constraints and need for sufficient <br />working capital. <br />Considered parameters for level of public assistance include the following: <br />Return on Investment: (City benefits) <br />Purchase price and other development costs: (reasonable ranges and supported by project) <br />Public to private investment: (public participation 10%) <br />Public assistance (TIF) and private equity: (public does not exceed private equity) <br />Extraordinary costs: (development) <br />Financial gap: (limit on private debt and equity) <br />Market conditions (financing limitations) <br />Term of district collection: (up to 9 years for economic development) <br />Other identified public improvements: (case by case basis to be determined) <br />The assistance would also constitute as a business subsidy and would be required to comply with the City’s <br />business subsidy policy requirements that includes certain wage and job goals as outlined in the policy. <br />Thank you for the opportunity to be of assistance to the City of Elk River. We look forward to discussing the project <br />and financing assumptions in greater detail. <br />Page 44 of 64Page 405 of 464