Laserfiche WebLink
3 . Purpose of Loan: <br /> To leverage existing funding from Industrial Development Revenue <br /> Bond and Minnesota Small City Development grant and Tax Increment <br /> Financing to allow completion of the described project. <br /> 4 . Cost of Project: <br /> A) Land $ 100,000 <br /> B) Buildings (attach plans & costs) $ 950,000 <br /> C) Equipment/Machinery/Fixtures (attach list <br /> and estimated costs) $ 1,031,900 <br /> • D) Remodeling $ 80,000 <br /> E) Industrial Inventory/Working Capital $ <br /> F) Other (attach description) $ <br /> TOTAL COSTS $ 2,161,900 <br /> 5 . Proposed Financing: <br /> SOURCE NAME TERMS AMOUNT <br /> A) Bank Loan C/E Allocation $ 114,200 <br /> B) Bank Loan IDRB $ 1,500,000 <br /> C) Other Private Funds W/C $ 147,700 <br /> D) Applicant Contribution $ <br /> E) Other TIF $ 100,000 <br /> • <br /> F) Fed Grant/Loan MSCDP $ 250,000 <br /> 111 <br /> G) State Grant/Loan $ <br /> Elk River <br /> H) This Loan EDRLF $ 50.000 <br /> TOTAL FINANCING $2,161,900 <br /> -2- <br />