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City of Hugo, Minnesota <br /> TAX INCREMENT FINANCING PROPOSAL REVIEW WORKSHEET <br /> Redevelopment Districts <br /> 1.The project meets the criteria set forth in Section III of the City's Tax Increment <br /> Financing policy. <br /> a) Meets minimum thresholds for size, value, and tax capacity. <br /> b) Meets at least one of the objectives in Section III and satisfies <br /> the provision set forth in Section IV. <br /> c) Demonstrates need for TIF with the but-for analysis. <br /> e) Consistent with all city plans and ordinances. <br /> f) Serves at least two public purpose as defined in Section IV. <br /> 2. Ratio of Private to Public Investment in Project: Points: <br /> $ Private investment 5:1 5 <br /> $ Public Investment 4:1 4 <br /> Ratio Private to Public Financing 3:1 3 <br /> 2:1 2 <br /> Less than 2:1 1 <br /> 3. Structure of Financing: Points: <br /> < 10%of Subsidy Requested for Land Acq. 5 <br /> 11%-20%of Subsidy Requested for Land Acq. 4 <br /> 21%- 30%of Subsidy Requested for Land Acq. 3 <br /> 31%-40%of Subsidy Requested for Land Acq. 2 <br /> 41%-50%of Subsidy Requested for Land Acq. 1 <br /> 4.Type of Project: Points: <br /> 100%Owner Occupied 5 <br /> Mix Owner Occupied & Investment 4 <br /> Investment Property 3 <br /> 5. Use: Points: <br /> Retail 5 <br /> Office/Commercial 5 <br /> Mixed-use 5 <br /> Housing 3 <br /> 1 ndustrial 1 <br /> 6.Type of Development: Points: <br /> Redevelopment of Substandard Structures 5 <br /> Development of Vacant Land 3 <br /> 7.Job CreationlWage Level Points: <br /> 15+Full Time Equivalent(FTE) Jobs, $15-$20 per hour 5 <br /> 10-14 FTE's, $10-$14 per hour 4 <br /> 1-9 FTE's, $749 per hour 3 <br /> pl~lgsed Page 11 <br />