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C. PUBLIC PURPOSE <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 />X Job Creation/Retention <br />Number of existing jobs 78 <br />Number of jobs created by project 26 <br />Average hourly wage of jobs created/retained $21.95 <br />X New industrial development which will result in additional private <br />investment in the area. <br />X Enhancement and/or diversification of the City of Elk River's economic base. <br />X The project contributes to the fulfillment of the City's Economic Development <br />Strategic Plan. <br />-Removal of blight. <br />X Rehabilitation of a high profile or priority site. <br />X Significantly increase the City's tax base. <br />