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X. TAX ABATEMENT APPLICATION REVIEW WORKSHEET <br />TO BE COMPLETED BY CITY STAFF <br />1. The roject meets the criteria set forth in ,Section V of the Tax Abatement policy. <br />__1c/ ) Meets at least one of the objectives in Section III. <br />-fib) Demonstrates need for Tax Abatement with the but for analysis.. <br />~) Consistent with all city plans and ordinances.. <br />~/" d) Serves at least two public purposes as defined in Section V(g). <br />2. Ratio of Private to All Public Investment i Project: <br />$ rivate Investment (/1ot~n~~~ <br />$ Public Investment <br />~: / Ratio Private: Public Financing <br />Less than <br />3. Job Creation in the City of Elk River: <br />2~ Number of~ new jobs as a result of the project. <br />Number of existing/retained jobs <br />/~!9 Total <br />Less than <br />Points: <br />5:1 ~5 <br />4:1 4 <br />3:1 3 <br />2:1 2 <br />2:1 1 <br /> <br />Points: <br />25+ <br />20+ 4 <br />15+ 3 <br />10+ 2 <br />10 1 <br />4. Ratio of Public Investment to Job Creation: Points: <br />$ ~2 000 Public Investment $8,000 or less <br />Number of neav jobs created/retained $10,000 or less 4 <br />$ 'j S/ `7 of Public Investment per new job $12,000 or less 3 <br />$15,000 or less 2 <br />Over $15,000 1 <br />5. Wage Level of ne7v jobs created/retained Points: <br />Minimum hourly wage ~ Over $21 /hour 5 <br />of jobs created/retained: ~©O $18-21 /hour 4 <br />$14-17 /hour <br />$10-13 /hour 2 <br />Under $10 /hour 1 <br />6. Project size: Points: s <br />The project will result in the construction 40,000+ <br />of square feet '-~s~~~ 30,000+ 4 <br />.~ <br />20,000+ 3 <br />10,000+ 2 <br />10,000 or less 1 <br />City of Elk River <br />Tax Abatement Polity <br />Amended May 2006 - 13- <br />