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III Tescom currently employs 200 persons at its Elk River <br /> facility. As a result of the expansion, 45 to 60 <br /> permanent, full time jobs will be created within a <br /> two year time period. <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. 9 include: <br /> - Soil borings and analysis . <br /> - Survey, civil and engineering <br /> - Contract for construction of 30, 000 square foot <br /> facility (by Tescom Corporation, Inc . ) . <br /> E. TAX INCREMENT FINANCING DISTRICT NO. 9 BUDGET <br /> 1 . Tax Increment Financing District No. 9 Cost <br /> Estimates <br /> Budget Amount <br /> • Land Write Down $165,000 <br /> Site Survey, Civil and Engineering 4, 000 <br /> Soil Borings and Analysis 25,000 <br /> Administration 6,000 <br /> Legal -0- <br /> Cost of Issuance Fees -0- <br /> Bond Discount -0- <br /> Capitalized Interest -0- <br /> Miscellaneous <br /> Total $200,000 <br /> 2 . Bonded Indebtedness <br /> No Bonds will be issued as part of Tax Increment <br /> Financing District No. 9 . <br /> 3 . Sources of Revenue to Pay Public Costs <br /> Tax Increments collected from Tescom Corporation' s <br /> expansion will be used to pay the public costs <br /> associated with Tax Increment Financing District No. <br /> 9 . <br /> 4 . Original Tax Capacity <br /> • Because the property in Tax Increment District No. 9 <br /> is tax exempt, the original net tax capacity, based <br /> on the January 2, 1992, valuation, is estimated to be <br />