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B. PROJECT INFORMATION <br />1. The project will be: <br />X Industrial: X New Construction Expansion Redevelopment /Rehab. <br />Office/research facility that conforms to Business Park zoning standards <br />Commercial Redevelopment/Rehabilitation <br />Other <br />2. In addition to the City of Elk River, applicant is requesting Tax Abatement from: <br />X Sherburne County _ School District 728 <br />3. The project will be: X Owner Occupied Leased Space <br />4. Project Address :Sandpiper Business park Hwy 10 (business center drive), 17.11 acres <br />Parcel Identification Number(s) <br />Sec 31 Twp 33 Rng 26 E 1-2 of SE 1-4 ex plats of Sandpiper Estates & Sandpiper Estates Two & ex a strip <br />of land 80 ft in width, over that pt of E 1-2 of SE 1-4, the N line of which is contiguous with S R-0-W line of <br />Hwy 10. This parcel should consist of 17.11 acres or 745,312 square feet of raw land. <br />5. Site Plan and Construction Plans Attached: X" Yes No <br />"This is an unconfirmed proposal <br />6. Total Amount of Tax Abatement Requested: $853,776 over 12 years. <br />City Portion: Annual $36,996.09 Total $ 426,888.00 <br />County Portion: Annual $34988.87 Total $ 426,888.00 over 10 years <br />ISD 728 Portion: Annual $ 0 Total $ 0 <br />7. Current Real Estate Taxes on Project Site: $ 67,852.00 -Base tax amt is $25,028.28 <br />Estimated Real Estate Taxes upon Completion: Phase I $ 145,146.25 <br />Phase II $ Not applicable at this time <br />8. Construction Start Date: May /June 2008 <br />Construction Completion Date: April 2009 <br />If Phased Project: 2008 Year 60 % Completed <br />2016 Year 100 % Completed <br />