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<br />B. PROJECT INFORMATION <br /> <br />1. The project will be: <br />_Industrial Greenfield: _New Construction <br />_Commercial Redevelopment: _New Construction <br />_Industrial Redevelopment: _New Construction <br />_Other <br /> <br />_ Expansion <br />Rehabilitation <br />Rehabilitation <br /> <br />2. The project will be: <br /> <br />_Owner Occupied _Leased Space <br /> <br />3. Project Address <br />Legal Description & Parcel Identification Number(s) <br /> <br />4. Site Plan and Preliminary Construction Plans Attached: <br /> <br />Yes <br /> <br />No <br /> <br />s. Amount of Tax Increment Requested for: <br />Land Purchase $ <br />Public Improvement $ <br />Site Improvement $ <br /> <br />6. Current Real Estate Taxes on Project Site: $ <br />Estimated Real Estate Taxes upon Completion: <br /> <br />Phase I $ <br />Phase II $ <br /> <br />7. Construction Start Date: <br />Construction Completion Date: <br />If Phased Project: <br /> <br />Year <br />Year <br /> <br />% Completed <br />% Completed <br /> <br />C. PUBLIC PURPOSE <br /> <br />It is the policy of the City of Elk River that the use of Tax Increment Financing should <br />result 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 or diversification of the city's economic base. <br />_The project contributes to the fulfillment of the City's Economic Development <br />Strategic Plan. <br />_Removal of blight or the rehabilitation of a high profile or priority site. <br />_Significandy increase the City's tax base. <br />_Other: <br /> <br />City of Elk River <br />Tax Increment Policy & Application <br />Amended May 2006 <br /> <br />Page 8 of 14 <br />