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C. PUBLIC PURPOSE <br /> It is the policy of the City of Elk River that the use of Tax Rebate Financing should <br /> result m a benefit to the public. Please indicate how this project will serve a public <br /> purpose. <br /> Job Creation: Number of existing jobs <br /> Number of jobs created by project <br /> Average hourly wage of jobs created <br /> New industrial development which will result m additional private <br /> investment in the area. <br /> Enhancement and/or diversification of the city's economic base. <br /> The project conmbutes to the fulfillment of the City's Strategic <br /> Plan for Economic Development. <br /> Removal of blight. <br /> Rehabilitation of a high profile or priority site. <br /> Other: <br /> <br />D. SOURCES & USES <br /> <br />SOURCES <br />Bank Loan <br />Other Private Funds <br />Equity <br />Fed Grant/Loan <br />State Grant/Loan <br />EDA Micro Loan <br />Tax Rebate Financing <br />ID Bonds <br />TOTAL <br /> <br />NAME AMOUNT <br /> <br />$ <br />$. <br /> <br />USES <br />Land Acquisition <br />Site Development <br />Construction <br />Machinery & Equipment <br />Architectural & Engineering Fees <br />Legal Fees <br />Interest During Construction <br />Debt Service Reserve <br />Contingencies <br />TOTAL <br /> <br />AMOUNT <br />$ <br />$ <br />$ <br />$ <br /> <br />$ <br /> <br />$ <br />$ <br />$ <br /> <br />Existing Tax Rebate Financing Policy, Adopted April 2000 - 9 - <br /> <br /> <br />