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<br />City of Mounds View Public Financing Policy & Application <br />Adopted February, 2016 (Expected) <br />Page 18 of 21 <br /> <br />J. PUBLIC FINANCING APPLICATION REVIEW WORKSHEET – <br />COMMERCIAL/INDUSTRIAL PROJECTS <br /> <br /> <br />1. The project meets the criteria set forth in Section IV of the City’s Public <br />Financing Policy. <br /> a) Meets at least one objective in Section II all provisions in Section III. <br /> b) Demonstrates need for TIF with the but-for analysis. <br /> c) The project complies with all applicable laws. <br /> d) Consistent with all city plans and ordinances. <br /> e) Serves at least two public purposes as defined in Section IV (E). <br /> f) Developer has paid the application fee. <br /> <br />2. Ratio of Private to All Public Investment in Project: Points: <br />$ Private investment 5:1 5 <br />$ Public Investment 4:1 4 <br />____________Ratio Private: Public Financing 3:1 3 <br /> 2:1 2 <br />Less than 2:1 1 <br /> <br />3. Job Creation in the City of Mounds View: Points: <br /> Number of new jobs as a result of the project. 40+ 5 <br /> Number of existing/retained jobs divided by 2. 30+ 4 <br /> Total 20+ 3 <br />10+ 2 <br />Less than 10 1 <br />4. Ratio of Public Investment to Job Creation: Points: <br />$ Public Investment $15,000 or less 5 <br /> Number of new jobs created/retained $20,000 or less 4 <br />$ Public Investment per new job $22,000 or less 3 <br />$25,000 or less 2 <br />Over $25,000 1 <br />5. Wage Level of new jobs created/retained: Points: <br />Minimum hourly wage Over $21/ hour 5 <br />of jobs created/retained: $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 80,000+ 5 <br />of square feet 65,000+ 4 <br /> 50,000+ 3 <br /> 35,000+ <br />25,000+ <br />2 <br />1 <br /> <br />TO BE COMPLETED BY CITY STAFF OR CONSULTANTS