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aD. DEVELOPMENT ACTIVITIES <br /> 1. Development Overview <br /> Kjellberg' s Carpet and Interiors proposes to <br /> construct a new retail facility containing <br /> approximately 12,000 square feet on the redevelopment <br /> site. The new facility will have a finished market <br /> value estimated at approximately $625,000. <br /> Construction may begin during the fall of 1993 and <br /> will be completed by the spring of 1994 . <br /> Kjellberg's Carpet will occupy approximately 6,000 <br /> square feet in the retail facility. The remaining <br /> 6 ,000 square feet will be leased space. <br /> 2 . Contracts <br /> No contracts have been entered into at the time of <br /> the preparation of this Tax Increment Financing <br /> Plan. Proposed contracts for services associated <br /> with Tax Increment Financing No. 12 include: <br /> - Contract for Private Development <br /> • - Contract for construction of a 12,000 square foot <br /> retail facility (by Kjellberg' s Carpet and <br /> Interiors) <br /> E. FINANCIAL ANALYSIS OF TAX INCREMENT FINANCING DISTRICT NO. <br /> 12 <br /> 1 . Tax Increment Financing District No. 12 Cost <br /> Estimates <br /> Budget Amount <br /> Site Preparation $165,000 <br /> Administration -0- <br /> Legal $ 5,000 <br /> Cost of Issuance Fees $ 6,000 <br /> Bond Discount -0- <br /> Capitalized Interest $ 19,000 <br /> Miscellaneous 5,000 <br /> Total $200,000 <br /> Total Project Costs $200,000 <br /> Less Application Fee 5,000 <br /> Net Project Costs $195,000 <br /> • <br />