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-T,Vorksheet <br />Number <br />Hamline Senior Housing <br />TIF Project (Relocation) <br />Preliminary Project Cost Estimates <br />Project Expense <br />Item <br />4 Business relocations <br />10% Contingency <br />Relocation Consultant Fee <br />Capitalized Interest (2 yr. at 6 %) <br />Underwriter (o.5 %) <br />Issuer Fee (0.75 %) <br />Letter of Credit (o.8 %) <br />Project Cost Estimate <br />Round Off <br />Debt Service Requirements <br />Assumptions'. <br />Pay As You Go TIF <br />"CIF note interest rate: 5% and % <br />TIF mote principal: $1,050,000 <br />Term <br />Annum Debt ervice4% <br />8 gears <br />$162,1457 <br />9 years <br />$ 1471724 <br />10 years <br />1 35979 <br />15 years <br />$101,159 <br />0 gears <br />843-254 <br />Estimate <br />$7501,000 <br />753000 <br />75,000 <br />X5,000 <br />5,200 <br />7,800 <br />81300 <br />$1,046}300 <br />$19050,000 <br />Annual „Debt Service.6% <br />$169,087 <br />$154,373 <br />$ X42,661 <br />$108,110 <br />91,543 <br />Estimated annual TEF available: $146,507 to 1555433 (See Worksheet Number ) <br />Preliminary Conclusion <br />Relocation cost and related financing costs could be repaid with nine annual TIF <br />payments. <br />Page 3 <br />Handin a Senior Housing <br />