Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />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 /> <br />2. <br /> <br />Contracts <br /> <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 /> <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 /> <br />E. TAX INCREMENT FINANCING DISTRICT NO. 9 BUDGET <br /> <br />1. <br /> <br />Tax Increment <br />Estimates <br /> <br />Financinq <br /> <br />District <br /> <br />No. <br /> <br />9 Cost <br /> <br />Budqet <br /> <br />Amount <br /> <br />Land Write Down <br />Site Survey, Civil and Engineering <br />Soil Borings and Analysis <br />Administration <br />Legal <br />Cost of Issuance Fees <br />Bond Discount <br />Capitalized Interest <br />Miscellaneous <br /> <br />$165,000 <br />4,000 <br />25,000 <br />6,000 <br />-0- <br />-0- <br />-0- <br />-0- <br /> <br />Total <br /> <br />$200,000 <br /> <br />2. Bonded Indebtedness <br /> <br />No Bonds will be issued as part of Tax Increment <br />Financing District No.9. <br /> <br />3. Sources of Revenue to Pay Public Costs <br /> <br />Tax Increments <br />expansion will <br />associated with <br />9. <br /> <br />collected from Tescom Corporation's <br />be used to pay the public costs <br />Tax Increment Financing District No. <br /> <br />4. <br /> <br />Oriqinal Tax Capacity <br /> <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 />