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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 <br />land. <br />3. FINANCING <br />Project Costs <br />Land <br />$ <br />349,351 <br />Buildings (includes site improvements) <br />$ <br />1,824,769 <br />Equipment/Machinery/Fixtures <br />(attach list and estimated costs) <br />$ <br />80,600 <br />Professional Fees <br />$ <br />35,825 <br />Other (Contingencies) <br />$ <br />90,000 <br />Total Costs <br />$ <br />2,380,545 <br />Comments: <br />Proposed Sources of Financing <br />SOURCE NAME <br />TERMS AMOUNT <br />Bank Loan The Bank of Elk River <br />$ 1,680,545 <br />Applicant Contribution <br />$ 500,000 <br />Other <br />$ <br />Fed Grant/Loan <br />$ <br />State Grant/Loan <br />$ <br />EDA Microloan Jobs Incentive <br />$ 200,000 <br />Tax Increment Financing <br />$ <br />Tax Abatement <br />$ <br />Total Financing <br />$ 2,380,545 <br />Page4of8 P0WIR10 BY <br />NATURE <br />