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X. TAX ABATEMENT APPLICATION REVIEW WORKSHEET <br />TO BE COMPLETED BY CITY STAFF <br />1. The project meets the criteria set forth in Section V of the Tax Abatement policy. <br />~~a) Meets at least one of the objectives in Section III. <br />L b)/ Demonstrates need for Tax Abatement with the but for analysis. <br />L/c) Consistent with all city plans and ordinances. <br />Serves at least two public purposes as defined in Section V(g). <br />2. Ratio of Private to All Public Investment in Project: <br />$ ~ 9x~c`~ ~vate Investment <br />$ Public Investment ~~~~~,~-~ /Y1C.t jYf/~' <br />,~ ~ f Ratio Private: Public Financing <br />Less than <br />~--° <br />Points---~ <br />5:1 5 <br />4:1 4 <br />3:1 3 <br />2:1 2 <br />2:1 1 <br /> <br />3.~ob Creation in the City of Elk River: Points: <br />~S Number of new jobs as a result of the project. 25+ 5 <br />> Number of existing/retained jobs 20+ 4 <br />~~ Total 15+ 3 <br /> 10+ 2 <br />Less than 10 1 <br />4. Ratio of Pu is Investment to Job Creation: <br />~ Points: <br />$ ~~'~ <br />Public Investment~f~~.~+/~L~m/~ $8,000 or less 5 <br />9 Number of nezv jobs created/retained $10,000 or less 4 <br />$ ~ 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 neaa~ jobs created/retained Points: ~- <br />Minimum hourly wage Over $21 / hour 5 <br />of jobs created/retained: ~ ~ ~a $18-21 /hour 4 <br />$14-17 /hour 3 <br />$10-13 /hour 2 <br />Under $10 /hour 1 <br />6. Project size: Points: <br />The project will result in the construction 40,000+ 5 <br />of square feet ~ ~ ~Q 30,000+ 4 <br />20,000+ 3 <br />10,000+ 2 <br />10,000 or less 1 <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br />- 13- <br />