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B. PROJECT INFORMATION <br />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 />2. In addition to the City of Elk River, applicant is requesting Tax Abatement from: <br />~_ Sherburne County School District 728 <br />3. The project will be: <br />4. Project Address S ~ <br />Parcel Identification <br />Owner Occupied Leased Space <br />~D~,~.o-/ DcJS~lne_5S ~~/~C.. -PjvS~we.-SS C <br />'f <br />5. Site Plan and Construction Plans Attached: Yes No <br /> <br />6. Total Amount of Tax Abatement Requested $ ~ Z~ 5 3 3 over ~ ~ years. <br />City Portion: Annual $ Total $ <br />County Portion: Annual $ Total $ <br />ISD 728 Portion: Annual $ Total $ <br />7. Current Real Estate Taxes on Project Site: $ ~0,~~1Z <br />Estimated Real Estate Taxes upon Completion: Phase I $ <br />Phase II $ <br />8. Construction Start Date: 2. D'~vw~v ~ 0 ~'~~~'~/ t7~ <br />Construction Completion Date: y ~~ ~ ~ <br />If Phased Project <br />Year <br />Year <br />C. PUBLIC PURPOSE <br />Completed <br />Completed <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 ~ZZ- <br />Number ofjobs created by project x3o ov~/ y~-w <br />Average hourly wage ofjobs created/retamed~ ~°~•"1~ <br />New industrial development which will result in additional private <br />investment in the area. <br />Enhancement and/or diversification ofthe 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 />City of Elk River <br />Tax Abatement Polity <br />Amended May 2006 <br />- 9- <br /> <br />