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MAY- 4-95 THU 9:33 METAL CRAFT FAX NO. 4410798 P. 05 <br /> • PROPOSED PROJECT <br /> Describe Project: To build a manufacturing plant/office building with approximately <br /> 12,000 square feet.Neos Inc. will require 4800 square feet now, and approximately 3000 more in <br /> the next two years. Metal Craft also needs expansion room and will take over the existing area <br /> rented by Neos now. It is far more cost effective to build a larger building now and rent the space <br /> until needed by Neos, or Metal Craft. <br /> Location: Lot 6 and 7 of McChesneys Industrial Park. <br /> Type of Project: Industrial <br /> JOB CREATION <br /> NEOS PROSPECTIVE TENANTS <br /> Current Number of employees 3 full time, 2 part time 11 full time <br /> Current Payroll $120,000.00 $360,000.00 <br /> Number of Jobs Created 6 10 <br /> Number of Jobs Retained 5 11 <br /> • Revised Payroll $240,000.00 $690,000.00 <br /> PROJECT COSTS <br /> Land Acquisition: $60,000.00 <br /> Site Development: $20,000.00 Estimate <br /> Construction: $380,000.00 Estimate <br /> Machinery and Equipment: <br /> Architectural and Eng. Fees: <br /> Legal Fees: <br /> Interest During Construction: <br /> Debt Service Reserve: <br /> Contingencies <br /> Total: $460,000.00 <br /> SOURCE OF FINANCING <br /> Conventional Loan $300,000.00 <br /> Equity 4O100O.00 <br /> • SBA Loan <br /> Revenue Bond <br /> Tax Increment Financing $80,000.00 Estimate <br /> Grant(s) <br /> Other <br /> Total $u6fl 1000 <br />