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<br />B. PROJECT INFORMATION <br /> <br />1. The project will be: <br />_Industrial: _New Construction _ Expansion _Redevelopment / Rehab. <br />_Office/research facility that conforms to Business Park zoning standards <br />_Commercial Redevelopment/Rehabilitation <br />_Other <br /> <br />2. In addition to the City of Elk River, applicant is requesting Tax Abatement from: <br />Sherburne County School District 728 <br /> <br />3. The project will be: _Owner Occupied _Leased Space <br />4. Project Address <br /> Parcel Identification Number(s) <br />5. Site Plan and Construction Plans Attached: Yes No <br />6. Total Amount of Tax Abatement Requested: $ over_ years. <br /> City Portion: Annual $ Total $ <br /> County Portion: Annual $ Total $ <br /> ISD 728 Portion: Annual $ Total $ <br /> <br />7. Current Real Estate Taxes on Project Site: $ <br />Estimated Real Estate Taxes upon Completion: Phase I $ <br />Phase II $ <br /> <br />8. Construction Start Date: <br />Construction Completion Date: <br />HPhased Project: <br /> <br />% Completed <br />% Completed <br /> <br />Year <br />Year <br /> <br />C. PUBLIC PURPOSE <br /> <br />It is the policy of the City of Elk River that the use of Tax Abatement should result <br />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 and/or diversification of the City of Elk River's economic base. <br />_The project contributes to the fulfillment of the City's Economic Development <br />Strategic Plan. <br />_Removal of blight. <br />_Rehabilitation of a high profile or priority site. <br />_Significantly increase the City's tax base. <br /> <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br /> <br />- 9- <br />