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• 2. Contracts <br /> No contracts have been entered into at the time of the <br /> preparation of this Tax Increment Financing Plan. <br /> Proposed contracts for services associated with Tax Increment <br /> Financing District No. 14 include: <br /> • Contract for Construction of a 9,324 Square Foot <br /> Facility (by Marketech, Inc.) <br /> • Soil Borings and Analysis <br /> • Site Preparation and Development <br /> E. FINANCIAL ANALYSIS OF TAX INCREMENT FINANCING <br /> DISTRICT NO. 14 <br /> 1. Tax Increment Financing District No. 14 Cost Estimates <br /> Budget Amount <br /> Land Write Down $65,100 <br /> Administration & Legal $ 1,000 <br /> Miscellaneous $ 1.000 <br /> Total $67,100 <br /> • <br /> 2. Bonded Indebtedness <br /> The City of Elk River anticipates a pay-as-you-go Tax Increment <br /> Financing District No. 14 and no bonds will be issued. <br /> 3. Sources of Revenue to Pay Public Costs <br /> Tax Increments collected from the Marketech, Inc., expansion <br /> will be used to pay the public costs associated with Tax <br /> Increment Financing District No. 14. <br /> 4. Original Tax Capacity <br /> The original net tax capacity, based on the 1995 valuation, for <br /> the real property in Tax Increment District No. 14 is estimated <br /> to be $2,300. The County Auditor Certification attributable to <br /> this value is attached as Exhibit C. <br />