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<br />5. Panther expects normal TIF financing to be integral to the overall package. Panther . <br />forecasts the addition of a minimum of 8 employees within 2 years after building <br />occupancy. <br /> <br />6. The economics of the proposal breaks down as follows: <br /> <br />Purchase of 2.2 acres @ $2.50 Isq ft <br /> <br />$ 239,580 <br /> <br />1- Less required improvements as outlined in Attachment A-1 <br />(Panther's responsibility): <br /> <br />o Soil correction <br /> <br />$ 51,000 <br />$ 32,000 <br />$ 7,500 <br /> <br />o Relocate pond <br /> <br />o Adjust existing storm sewer <br /> <br />Sub-Total <br /> <br />$ .90, 500 <br />$149,080 <br />$ 200,.000 <br />$ 39,580 <br /> <br />Land purchase price <br />Credit for TIF financing - 8 employees @ $25,000 ea. <br /> <br />Net. cost to Panther at closing <br /> <br />We are pleased with our decision to relocate to Ramsey in 2003 and look forward continued <br />growth in the Sunfish Lake Business Park. <br /> <br />Sincer!~$7 . <br /> <br />a's Olson <br />President <br />Panther Precision Machine <br /> <br /> <br /> <br />cc. Chris Miller <br /> <br />Attachments <br /> <br />- A-1 Letter dated Feb 27, 2008 <br /> <br />. Panther Precision Machine · 6640 Sunwood Dr. NW · Ramsey,MN 55303 <br />Tel (763) 586-9651 Toll (866) 297-9651 Fax (763) 586-9652 info@pantherprecision.com 29 <br />