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410 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 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 /> 410 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 /> 2 . Bonded Indebtedness <br /> The Elk River Economic Development Authority is <br /> proposing to privately place a tax increment note <br /> through a lending institution to finance the costs <br /> associated with Tax Increment Financing District No. <br /> 12 . <br /> 3 . Sources of Revenue to Pay Public Costs <br /> Tax Increments collected from the Kjellberg retail <br /> facility will be used to pay the public costs <br /> associated with Tax Increment Financing District No. <br /> 12 . <br /> 4 . Original Tax Capacity <br /> 410 The original net tax capacity, based on the January <br /> 2 , 1992, valuation, for the real property in Tax <br /> Increment District No. 12 is estimated to be $0 .00 . <br />