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the Enprgy Resource Center Annual Report, available in May Of <br />each calendar veer. 001- <br />1111M11 <br />The Energy Resource Center will provide all loan origination <br />services (eligibility analysis, title and credit checks), sub- <br />contracting for loan sprvtcinq, coordination of energy audits, <br />information and technical assistance On energv conservation <br />mpasures, marketing (in cor3peralion with the community), and <br />preparation of legal ducuments. <br />gtK� _vict (N.Uv_UY SFtrsl yg r <br />QUILY) <br />D011trs <br />WIN. <br />EN <br />lotal. <br />1. Staff Costs:1.5 perions <br />s10,000 <br />$35,00() <br />$45,000 <br />_'. Marketing <br />3,000 <br />0 <br />:r, 000 <br />_. operational overhead <br />2, OCKr <br />4,000 <br />6.000 <br />4. Legal <br />3,000 <br />1,(xio <br />4,000 <br />b. Serviciny Fees <br />0 <br />2, 40(1 <br />2,400 <br />TOTAL <br />--- <br />20, ixx) <br />-------- <br />42,400 <br />------- <br />62,400 <br />The ERC intends to Offset a portion of the loan servicing costs <br />over the program life by using interest yenerated on the CDBo <br />installment loans and interest accumulated by the loan pool <br />daring the two year origination period. All principal from CDHO <br />monies will return to Ramsey County. A schedule of principal and <br />intrrest repayments on 4139,Cioo at 3% over a ten year term is <br />enclosed as Attachment A. This schedule approximates rrpayment <br />of the CDOG 3% installment loan portfolio, assuming 100% <br />commitment of funds anrd a ten year term for each loan. <br />4 <br />