1. Property tax exemption/Dakota Ag Co-op

Description of Project Business Note: "project" means a newly established business or the expansion portion of an existing business. Do not include any established part of an existing business. 17. Type of business to be engaged in: III Ag processing D Manufacturing D Retailing D Wholesaling D Warehousing D Services 18. Describe in detail the activities to be engaged in by the project operator, including a description of any products to be manufactured, produced, assembled or stored (attach additional sheets if necessary). Receive, store, condition and shipment of small and coarse grains. 19. Indicate the type of machinerv and eauipment that will be installed 20,000 bu receiving conveyors, 40,000 bu reclaim conveyor for shipping, 25,000 bu cleaner 20. Projected annual revenue, expense, and net income of the project for each year for the first five years. Year 2006 2007 2008 2009 2010 Annual revenue $390,000 $495,000 $512,000 $521,735 $526,650 Annual expense $404,975 $410,725 $445,820 $470,570 $477,565 Net income ($14,975) $54,275 $66,180 $51,165 $49,085 21. Projected annual average number of persons to be employed by the project at the project location for each year for the first five years and the estimated annual payroll. Year 2006 2007 2008 2009 2010 No. of Employees (1) 1 1 1 2 2 (2) 1 1 1 I 1 Estimated payroll (1) $28,000 $28,500 $29,000 $45,000 $47,000 (2) $15,250 $15,500 $15,750 $14,500 $15,000 (1) - full time (2) - part time Previous Business Activity 22. Is the project operator succeeding someone else in this or a similar business? D Yes III No 23. Has the project operator conducted this business at this or any other location either in or outside of the state? III Yes D No 24. Has the project operator or any officers of the project received any prior property tax incentives? DYes III No If the answer to 22, 23, or 24 is yes, give details including locations, dates, and name offormer business (attach additional sheets if necessary). City of Kindred - year 2005 - Tax increment Financing Program.