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• The project will be located on approximately 1.56 acres on Snelling Avenue one-half mile north of Rosedale Shopping Center. A legal description has been supplied. 3. Cost Breakdown: The applicant has supplied the following cost breakdown of the amount to be financed: Acquisition, reconstruction, improvement, betterment, or extension of project $ 290,000 Construction Costs 350,000 Equipment Acquisition and Installation 90,000 Fees: Architectural, engineering, inspection fiscal, legal administration or printing 102,000 Interest accrual during construction 30,000 Initial bond reserve -0- Contingencies 30,000 Bond Discount -0- Other 8.000 TOTAL $ 900,000 In addition, any and all city expenses not specified above, unpaid assessments or assessments pending but not yet levied will have to be ascertained and paid at the time of closing in acc-^r- dance with the City's policy. 4. Economic Factors: It is estimated that there will be approximately 21 new jobs created by the project at an annual payroll of approximately $638,000 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 revenue financing over a 30 year period is contemplated at an interest rate to be negotiated. First Corporate Services, Inc. has submitted a letter indicating that the project is economically feasible. Its 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 bonds 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.