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<br />E. ADDITIONAL DOCUMENTATION AND CHECKLIST <br />Applicants will also be required to provide the following documentation: <br /> <br />A) Written business plan, including a description of the business, <br />ownership / management, date established, products and services, and <br />future plans <br /> <br />B) Financial Statements for Past Two Years <br />Profit & Loss Statement <br />Balance Sheet <br /> <br />C) Current Financial Statements <br />Profit & Loss Statement to Date <br />Balance Sheet to Date <br /> <br />D) Two Year Financial Projections <br /> <br />E) Personal Financial Statements of all Major Shareholders <br />Profit & Loss <br />Current Tax Return <br /> <br />F) Letter of Commitment from Applicant Pledging to Complete <br />During the Proposed Project Duration <br /> <br />G) Letter of Commitment from the Other Sources of Financing, <br />Stating Terms and Conditions of their Participation in the Project <br /> <br />H) Non-refundable application deposit of $5,000 <br /> <br />I) Construction Plans and Itemized Project Construction Statement <br /> <br />J) Attach the following documentation as Exhibits <br />Exhibit A - Corporation/Partnership Description <br />Exhibit B - Description of Project <br />Exhibit C - List of Shareholders/Partners <br />Exhibit D - But-For Analysis <br />Exhibit E - List of Prospective Lessees <br />Exhibit F - Legal Description and PID Number(s) <br /> <br />Note: All Major shareholders will be required to sign personal guarantees and a minimum <br />assessment agreement if up front financing of the project is required. <br /> <br />The undersigned certifies that all information provided in this application is true and correct <br />to the best of the undersigned's knowledge. The undersigned authorizes the City of Elk <br />River to check credit references, verify financial and other information, and share this <br />information with other political subdivisions as needed. The undersigned also agrees to <br />provide any additional information as may be requested by the City after the filing of this <br />application. <br /> <br />Applicant Name <br /> <br />City of Elk River <br />Tax Abatement Policy <br />Amended May 2006 <br /> <br />Date <br /> <br />- 11- <br />