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Financing Structure - CCWS 6-9-26 <br />Uses of Funds <br />Use <br />Construction, Soft Costs & Fees <br />Payoff of Existing Land Loan <br />Total Project Cost <br />Sources of Funds <br />Source <br />Senior Construction Loan 5 yr. term 25 year amortization (70% of Total Project Cost) <br />Initial Funding Gap $653,507 (Before Land Equity) <br />Developer Land Equity <br />Land Payment (Ferret Street) <br />Lity or xamsey Loan io mt. tnaexea to iu year treasury bill, ' Y ear term, zD yr. <br />a rn r rt <br />Cash/Loans by Others <br />Total Sources / Uses <br />Contingencies / Notes <br />Formal Bank Approval Required by CorTrust Bank <br />Need Anoka County Approval of HRA Fund Allocation (In Process) <br />Redevelopment Area Plan Required (In Process) <br />ARAA to deposit 10K into Escrow to start Redevelopment Plan/Area Process (DONE) <br />6/1/2026 <br />Proposed Financing <br />Amount <br />$ 12,849,609 <br />$ 576,000 <br />$ 13,425,609 <br />$ 9,397,926 <br />$ <br />$ 1,370,000 <br />$ 20,000 <br />$ 1,877,683 <br />$ 750,000 <br />$ 13,425,609 <br />City required to assume ARAA Mortgage in Event of Default by ARAA <br />Notes/Change <br />Assumed by City in Event of Default <br />Solved below <br />Bank Approved Appraisal <br />By ARAA <br />HRA Loan / Redevelop Area <br />Verbal Agreement by others <br />