Laserfiche WebLink
Financing Structure - EDA 5-14-26 (Subject to Change) <br />Proposed Financing <br />Uses of Funds <br />Notes/Change <br />9,397,926 No Financial Guaranty 70/30 <br />1,370,000 Bank Approved Appraisal <br />cc <br />T <br />1,877,683 HRA Loan / Redevelop Area <br />750,000 Verbal Agreement by others <br />69 69 6A 69 69 69 69 H4 <br />Construction, Soft Costs & Fees <br />Payoff of Existing Land Loan <br />Total Project Cost <br />Sources of Funds <br />a) <br />Senior Construction Loan 5 yr. term 25 year amortization (70% of Total Project Cost) <br />Initial Funding Gap $653,507 (Before Land Equity) <br />Developer Land Equity <br />n <br />5 <br />cd <br />N <br />ct <br />ct <br />ct <br />O <br />- <br />5)cp <br />o <br />Q" o t <br />c <br />ct <br />Total Sources / Uses <br />Contingencies / Notes <br />Approval Required by CorTrust Bank <br />Fund Allocation (Resolution) <br />Need Anoka County Approval of H <br />Redevelopment Area Plan Required (Resolutions) <br />ARAA to deposit 10K into Escrow to start Redevelopment Plan/Area Process <br />