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Please describe how this loan will impact your project: <br /> This loan will be used to help offset the cost of the land. <br /> 3. FINANCING <br /> Project Costs <br /> Land $ 349,351 <br /> Buildings (includes site improvements) $ 1,824,769 <br /> Equipment/Machinery/Fixtures <br /> (attach list and estimated costs) $ 80,600 <br /> Professional Fees $ 35,825 <br /> Other (Contingencies) $ 90,000 <br /> Total Costs $ 2,380,545 <br /> Comments: <br /> Proposed Sources of Financing <br /> SOURCE NAME TERMS AMOUNT <br /> Bank Loan The Bank of Elk River $ 1,680,545 <br /> Applicant Contribution S 500,000 <br /> Other $ <br /> Fed Grant/Loan $ <br /> State Grant/Loan S. <br /> EDA Microloan Jobs Incentive $ 200,000 <br /> Tax Increment Financing <br /> Tax Abatement $ <br /> Total Financing $ 2,380,545 <br /> Page4of8 / A I E R E O 1 i <br /> NATURE <br />