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City of Hugo, Minnesota <br /> Estimated Real Estate Taxes upon Completion: <br /> Phase 1 $ <br /> Phase 11 $ <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 should result in <br /> a benefit to the public. Please indicate how this project will 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 investment in the <br /> area. <br /> The project contributes to the fulfillment of the City's development or redevelopment <br /> objectives. <br /> _Removal of blight or the rehabilitation of a high profile or priority downtown 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 provided only <br /> on a pay-as-you-go basis. Developer needs to identify funding sources to cover <br /> ALL costs up front, absent Tax Increment. <br /> Sprfngsted Page <br />