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<br />EXHIBIT C <br /> <br />Estimated Project Costs <br /> <br />City of Ramsey, Minnesota <br />Tax Increment District No. 11 <br />Project Budget <br /> <br />SOURCES OF FUNDS (Estimates) <br /> <br />1 <br />2 <br /> <br />Tax Increments <br />Total Sources <br /> <br />5.300.000 <br />5.300.000 <br /> <br />USES OF FUNDS (Estimates) - PUBLIC COSTS <br /> <br />3 <br />4 <br />5 <br />6 <br /> <br />Costs of Housing Project <br />Public Improvements <br />Administrative Cost <br />Total Uses <br /> <br />4,300,000 <br />700,000 <br />300.000 <br />5.300.000 <br /> <br />ESTIMATE OF BONDED INDEBTEDNESS <br /> <br />The City does not intend to issue Tax Increment Bonds to finance the above public costs. <br />Rather, the City intends to finance said costs on a pay as you go basis, utilizing a Tax Increment <br />Revenue Note. <br /> <br />1954494v3 <br />-180- <br /> <br />C-1 <br />