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7. Market Value/Tax Base Generation: <br />The project will result in a per square foot <br />es ated market value (land and building) <br />of ~3.3y <br />8. Type of Project: <br />100% Owner Occupied <br />Mix Owner Occupied & Investment <br />Investment Property <br />9. Use: <br />/Industrial or Business Park Project <br />Commercial Rehabilitation/Redevelopment <br />10. Likelihood that the project will result in <br />unsubsidized, spin-off development. <br /> <br /> Points: <br />Industrial Commercial <br />$80/sf+ $110/sf+ 5 <br />$70/sf+ $100/sf+ <br />$60/sf+ $90/sf+ 3 <br />$50/sf+ $80/sf+ 2 <br />$40/sf+ $70/sf+ 1 <br /> Points• <br /> <br /> 4 <br /> 3 <br /> Points• <br /> <br /> 4 <br />Points: <br />l~ High <br />Moderate 3 <br />Low 1 <br />Sub -Total Points: 2 of a possible 45 points. <br />11. Bonus Points Bonus Points: <br />~/ The project will be 100% Pay-asyougo Tax Abatement ~ints <br />~~ The project contributes to the goals of Energy City. 2 points <br />• Product promotes sensible use of energy, OR <br />• Project utilizes significant energy efficient design &/or <br />materials in construction. <br />Total Points• <br />Overall project desirability: High 45- 8 points <br />Moderate 37-29 points <br />Low 28-20 points <br />Not Eligible 19-0 points <br />Ciry of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br />- 14- <br />