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1 —Title Clerk(average salary$32,240/year) <br /> 1—Commercial Service Employee (average salary$42,000/year) <br /> 2- Internet Sales Employees(average salary$33'280/yea,) <br /> Note;New Department <br /> Weighted average of jobs created =$53'721/yea,of$25J03/huur. <br /> Note: <br /> Cornerstone Ford/Chrysler currently has 108 full time employees and 44 part time employees and we <br /> have an immediate need of additional personal. In all of our locations, we've added more than 70 jobs <br /> in the past year. Most of these positions were in Elk River. We are looking to hire at least an additional <br /> 50 employees. <br /> At our Elk River location,we can't wait for the expansion to be finished before filling many of these <br /> positions, but we also wouldn't be able to hire them without the anticipated expansion. Our building is <br /> overcrowded now. We will commit to hiring 20 positions in Elk River, after Tax Abatement is approved. <br /> However,all future positions created at our Elk River location will either be jobs created or jobs retain <br /> because of the expansion. <br /> New industrial development which will result in additional private <br /> Investment in the area. <br /> X Enhancement and/or diversification of the City of Elk River's economic base. <br /> X The project contributes to the fulfillment of the City's Economic Development Strategic Plan. <br /> Removal of blight. <br /> _X Rehabilitation of a high profile or priority site. <br /> X Significantly increase the City's tax base. <br /> Page 10 of 14 <br /> D. SOURCES & USES Name Amount <br /> SOURCES NAME AMOUNT <br /> Bank Loan Wells Fargo Bank $4'800.000 <br /> Other Private Funds Equipment Loan $730.000 <br /> Owner Cash Equity Cornerstone Elk River $l.SUO'UOO <br />