pf_01548 - Laserfiche WebLink

Home

4. Economic Factors: It is estimated that there will be approximately 34 new jobs created by the project at an annual payroll of approximately $788,000 based on currently prevailing wages. A breakdown of the positions created by the various portions of the project has been submitted. 5. Financing: Tax exempt industrial year period is contemplated at First Corporate Services, Inc. instrument and has submitted a is economically feasible. Its revenue financing over a 5 to 20 an interest rate to be negotiated. has proposed to purchase this deL t letter indicating that the project letter provides in pertinent part: "At the request of Health Resources, we have con- ducted a study of the economic feasibility of the propo- sal that the City of Roseville issue one or more of its revenue bondL under the provisions of the Minnesota Municipal Industrial Development Act to provide funds for the acquisition and construction of a medical office facility located within the City of Roseville, to be owned by Health Resources. our study has led us to the conclusion that on the basis of current financial conditions, the Project is economically feasible and the revenue bond (s) of the City can be successfully issued and sold. we propose to purchase said bonds as a single debt instrument, subject to approval of the Project by the City of Roseville and the Commissioner of Energy and Economic Development and agreements as to the terms and conditions of the loan." 6. Financial Information: The applicant supplied a $5,000 non-refundable cash deposit and a $10#000 refundable cash deposit with the City at the time of application. The applicant also supplied 1% of the project amount ($15,000) to preserve the City's IRH allocation. The fiscal year of the applicant ends on August 31 of each year. Audited financial statements for 1983 and 1982 have been supplied.