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Project Financials <br />Total Rehabilitation <br />Project Cost: $400,000 <br />Public Financing: Approximately 25% of completed project value <br />• Proposed rebate program, City contribution capped at $100,000. <br />• Once -a -year submission of qualifying expenses, annual payroll, and closed <br />building permits <br />• Rebate of 25% of qualifying expenses issued if job growth goals are met <br />• 4 additional full time equivalent jobs created per $25,000 rebate <br />Private Financing: Approximately 75% of completed project value <br />• University Tees will utilize existing capital improvement funds totaling $300,000. <br />Page 18 of 22 <br />