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indicated this is an option. Conversations with City Engineer Justin Femrite and Environmental <br /> Engineer Rebecca Haug on 3-13-13 further indicated this option can be explored. At time of <br /> application submission, Decklan Group staff has begun the process to mitigate the wetland. If <br /> this request is denied, Preferred Powder will be exploring other site options in Elk River. <br /> III. FINANCING <br /> Project Costs <br /> Land $ 714,000 <br /> Site improvements <br /> Buildings (attach plans & costs) $ 3,500,000 <br /> Equipment/Machinery/Fixtures <br /> (attach list and estimated costs) $ 1,000,000 <br /> Remodeling <br /> Industrial Inventory/Working Capital $ 200,000 <br /> Other (soft costs) $ 200,000 <br /> Total Costs $ 5,614,000 <br /> Proposed Sources of Financing <br /> SOURCE <br /> NAME TERMS AMOUNT <br /> First N'tI Bank (2 loans) 25 yr, 7-10 yr ammort $ 2,708,000 <br /> SBA 25 yr, 7-10 yr ammort. $ 2,164,400 <br /> Cash Equity (applicant) $ 441,600 <br />