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6 <br /> Scope of Work <br /> Page 3 <br /> PW-03-691-PRE-117 <br /> Calculating Local Percentage: (Note: Please exclude any expansion/growth costs and <br /> funding before calculating the local percentage.) <br /> Calculate as follows: <br /> Total Local Revenue <br /> PWTF Loan +Total Local Revenue = Local Loan Percentage <br /> $148,530 <br /> $990,200 = 15% <br /> The local contribution must be at least: <br /> Five percent (5%) for a loan interest rate of 2% <br /> Ten percent (10%) for a loan interest rate of 1% <br /> Fifteen percent (15%) for a loan interest rate of 0.5% <br /> 38 <br /> T:\Contracting\Pre-Con\PC Scope 03 PRE 117.dot <br />