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This project will result in the development of one of four vacant lots on a cul-de-sac <br />on the east end of Elk River and an increase of approximately $30,000/yr in property <br />taxes. This loan is imperative to leverage private investment and will improve <br />employment and economic opportunity for citizens in the region. <br />The new equipment will increase print production capacity, as well as the efficiency <br />of their printing operations. It will also provide us the additional needed capacity for <br />the introduction of a new product they've developed which is a more efficient process <br />of manufacturing multi -color heat transfers. <br />Apex has considered numerous sites in Ramsey, and throughout the NW Metro. <br />Their decision to locate in Elk River is due to the availability of this program, as well <br />as tax abatement through the city and the county. The combination of these <br />programs is crucial to support their continued growth, sustainability and success. <br />Additional capabilities are outlined in the attached investment impact statement. <br />III. FINANCING <br />Project Costs <br />Land <br />Site improvements <br />Buildings (attach plans & costs) <br />Equipment/Machinery/Fixtures <br />(attach list and estimated costs) <br />Moving Expenses <br />Professional Fees <br />Other (Contingencies + Closing fees ($35k) <br />Total Costs <br />Comments: <br />Proposed Sources of Financing <br />SOURCE NAME <br />Forgivable Loan Fund Application <br />DRAFT <br />$ 121,968 <br />$ 154.000 <br />$ 1.064,000 <br />$ 321.000 <br />$ 30.000 <br />$ 10.000 <br />$ 50.000 <br />$ 1.750.968 <br />TERMS AMOUNT <br />Page 11 of 8 <br />