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Phase II $ <br /> Construction Start Date: <br /> Construction Completion Date: <br /> If Phased Project: Year % Construction Completed <br /> Year % Construction Completed <br /> C. PUBLIC PURPOSE <br /> It is the policy of the City of Hugo that the use of Tax Increment Financing <br /> should result in a benefit to the public. Please indicate how this project will <br /> serve a public purpose. <br /> _Job Creation: Number of existing jobs <br /> Number of jobs created by project <br /> Average hourly wage of jobs created <br /> _Increase in Tax Base <br /> _Enhancement or diversification of the city's economic base. <br /> New industrial development which will result in additional private <br /> investment in the area. <br /> _The project contributes to the fulfillment of the City's development or <br /> redevelopment objectives. <br /> _Removal of blight or the rehabilitation of a high profile or priority <br /> downto" site. <br /> Other: <br /> D. SOURCES & USES <br /> SOURCES NAME AMOUNT <br /> Bank Loan $ <br /> Other Private Funds $ <br /> Equity $ <br /> Fed Grant/Loan $ <br /> State Grant/Loan $ <br /> Other Loans $ <br /> ID Bonds $ <br /> Tax Increment $ 0 ** <br /> TOTAL $ <br /> "Note: Tax Increment is not an upfront funding source as it will be <br /> provided only on a pay-as-you-go basis. Developer needs to identify <br /> funding sources to cover ALL costs up front, absent Tax Increment. <br /> USES AMOUNT <br /> Land Acquisition $ <br /> Site Development $ <br /> Construction $ <br /> Machinery & Equipment $ <br /> Architectural & Engineering Fees $ <br /> 10 <br />