Components of Project. Developer is to be the owner of the Property and will develop and operate the Project. However, the various component businesses of the Project may be owned by other entities to operate the various components of the Project (the “Tenants”). The following will apply with respect to the Tenants and their relationship to Developer. Tenants may or may not be operating cannabis related businesses.
Components of Project. The components of the Project and the Company budget therefor are as follows: Description of Capital Project Components Cost (Est'd.) ------------------ ------------- Land $1,051,000 Equipment Purchased Prior to 9/8/095 804,669 ---------- Other Costs of Project $1,855,669 Project Equipment Purchased 9/8-12/31/95 59,192 Project Equipment Purchased 1/1-4/1/96 106,442 Building 5,775,537 Projected Equipment Purchases 4/1/96 to 4/1/99 1,227,696 Company Legal Expenses 20,000 Office Furniture 125,000 Impact Fees 80,989 Consulting 20,000 Capitalized Interest 191,250 ---------- Qualified Costs of Project $7,606,106 TOTAL CAPITAL COSTS $9,461,775 OF PROJECT ========== A-1- 47 C. Computation of Loan Amount Portion of Total Capital Costs of Project to be Financed with Bond Proceeds $7,606,106 Estimated Qualified Bond Issuance Costs 144,822 Estimated Letter of Credit Fees 30,250 Estimated Investment Earnings on Project Fund (131,178) --------- LOAN AMOUNT $7,650,000 ==========
