Laserfiche WebLink
<br />VIII. TAX INCREMENT FINANCING APPLICATION REVIEW <br />WORKSHEET <br /> <br />I TO BE COMPLETED BY CITY STAFF I <br /> <br />1. The project meets the criteria set forth in Section IV of the City's Tax Increment <br />Financing policy. <br />a) Meets minimum thresholds for size, value, and tax revenue. <br />b) Meets at least one of the objectives in Section II and satisfies <br />the provision set forth in Section III. <br />c) Demonstrates need for TIF with the butjor analysis. <br />e) Consistent with all city plans and ordinances. <br />f) Serves at least two public purposes as defined in Section IV. <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 />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 divided by 10. <br />Total <br /> <br />4. Ratio of Public Investment to Job Creation: <br />$ Public Investment <br />Number of new jobs created/retained <br />$ Public Investment per new job <br /> <br />5. Wage Level of new jobs created/retained: <br />Minimum hourly wage <br />of jobs created/retained: <br /> <br />6. Project size: <br />The project will result in the construction <br />of square feet <br /> <br />City of Elk River <br />Tax Increment Policy & Application <br />Amended May 2006 <br /> <br />Points: <br /> 5:1 5 <br /> 4:1 4 <br /> 3:1 3 <br /> 2:1 2 <br />Less than 2:1 1 <br />Points: <br /> 40+ 5 <br /> 30+ 4 <br /> 20+ 3 <br /> 10+ 2 <br />Less than 10 1 <br />Points: <br />$15,000 or less 5 <br />$20,000 or less 4 <br />$22,000 or less 3 <br />$25,000 or less 2 <br />Over $25,000 1 <br />Points: <br />Over $21/ hour 5 <br />$18-21 / hour 4 <br />$14-17 / hour 3 <br />$10-13 / hour 2 <br />Under $10/ hour 1 <br />Points: <br />80,000+ 5 <br />65,000+ 4 <br />50,000+ 3 <br />35,000+ 2 <br />25,000+ 1 <br /> Page 12 of 14 <br />