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i I I ,I I I I I I I I I I I ! I I Funding for the project will be provided from the following sources: - $100,000 - Department of Economic Security Grant through CAP Agency. - City of Ramsey - $61,078 CDBG - City of Anoka - $30,539 CDBG - Anoka County - $30,539 CDBG All funds provided through this project will be on a loan basis with the monies from the two cities and Anoka County being paid back in approximately three years. The funding priority will first be to the cities and County with the remainder of the $95,000 to be paid back to CAP. Waltek will pay the Board for gas used by Waltek to power the generators, an amount equal to 70% of the cost of that electricity if it had been provided to Waltek by Anoka Electric Cooperative, for electricity actually generated by the generators. Payments shall be made quarterly, according to a schedule provided by the Board. Cost of gas will be determined by the landfill Board by December 31, 1988, for gas used by Waltek after December 31, 1988. Waltek shall apply for all available investment tax credits for the generators, for the applicable tax year. Upon thirty days of receipt of said investment tax credits, the total shall be paid to the Board and applied toward the gas purchase amount provided in the paragraph above. The term of this project will be five years in len§th. The two 85KW generators will use approximately 120,000 cubic feet of landfill gas per day of the approximate 1.3 to 1.5 million cubic feet of landfill gas produced per day. It is our goal to have Waltek generating electricity on its own by August l, 1983.