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<br />x. TAX ABATEMENT APPLICATION REVIEW WORKSHEET <br />I TO BE COMPLETED BY CITY STAFF I <br /> <br />1. The project meets the criteria set forth in Section V of the Tax Abatement policy. <br />a) Meets at least one of the objectives in Section III. <br />b) Demonstrates need for Tax Abatement with the butforanalysis. <br />c) Consistent with all city plans and ordinances. <br />d) Serves at least two public purposes as defined in Section V(g). <br /> <br />2. Ratio of Private to All Public Investment in Project: <br />$ Private Investment <br />$ Public Investment <br />Ratio Private: Public Financing <br /> <br />Points:_ <br />5:1 5 <br />4:1 4 <br />3:1 3 <br />2:1 2 <br />2:1 1 <br /> <br />Less than <br /> <br />3. Job Creation in the City of Elk River: <br />Number of new jobs as a result of the project. <br />Number of existing/retained jobs <br />Total <br /> <br />Points: <br />25+ 5 <br />20+ 4 <br />15+ 3 <br />10+ 2 <br />10 1 <br /> <br />Less than <br /> <br />4. Ratio of Public Investment to Job Creation: <br />$ Public Investment <br />Number of new jobs created/retained <br />$ of Public Investment per new job <br /> <br />Points: <br />$8,000 or less <br />$10,000 or less <br />$12,000 or less <br />$15,000 or less <br />Over $15,000 <br /> <br />5. Wage Level of new jobs created/retained <br />Minimum hourly wage <br />of jobs created/retained: <br /> <br />Points: <br />Over $21/ hour <br />$18-21 / hour <br />$14-17 / hour <br />$10-13 / hour <br />Under $10/ hour <br /> <br />6. Project size: <br />The project will result in the construction <br />of square feet <br /> <br />Points: <br />40,000+ <br />30,000+ <br />20,000+ <br />10,000+ <br />10,000 or less <br /> <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br /> <br />5 <br />4 <br />3 <br />2 <br />1 <br /> <br />5 <br />4 <br />3 <br />2 <br />1 <br /> <br />5 <br />4 <br />3 <br />2 <br />1 <br /> <br />- 13- <br />