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TAX ANALYSIS
<br />Industrial vs Petrina Park
<br />Land @ $1.25 Per Square Foot
<br />Sample Of industrial Properties:
<br />Land Area Land EMV Cost/Sq. Ft Bldg. EMV Sq. Footage Cost/Sq. Ft % Covered
<br />310 Cty Rd 0 50,560 50,600 $1.00 $249,400 12,800 $19.48 25.32%
<br />Kandice Heights 1 99,680 149,500 $1.50 $867,700 32,000 $27.12 32.10%
<br />Kandice Heights 11 52,732 79,100 $1.50 $510,600 13,200 $38.68 25.03%
<br />Metaltronics 156,777 156,800 $1.00 $739,000 40,400 $18.29 25.77%
<br />North Star Turf 115 335 173,000 $1.50 $913,900 35,127 $26.02 30.46%
<br />Slumberland 438,384 328,800 $0.75 $2,790,200 141,140 $19.77 32.20%
<br />Trane Building 127,445 191,200 $1.50 $518,900 31,432 $16.51 24.66%
<br />Average $1.25 Average $23.70
<br />Developable Land Area of Site
<br />Max. Building Size
<br />Tax Calculations:
<br />Sq. Footage
<br />797,148
<br />(21.3 Acres. 3 acres of wetland)
<br />Estimated Market Value 0
<br />Sq. Footage $16.51 $23.70 $38.68
<br />25% Coverage 199,287 $3,290,228 $4,723,102 $7,708,421
<br />30% Coverage 239,144 $3,948,274 $5,667,722 $9,250,105
<br />Building Land 0 Tax Taxes Difference
<br />EMV's $1.25 Capacity 0 1.47081% vs Petrina
<br />Land Value = 21.3 acres 0 53,290,228 $1,159,785 $176,051 $258,937 $6,983
<br />$1.25 per Square Foot $3,948,274 $1,159,785 $202,372 $297,651 $45,697
<br />54,723,102 $1,159,785 $233,365 $343,236 591,282
<br />Tax Capacity = $5,667,722 $1,159,785 $271,150 $398,811 5146,857
<br />2.7% 1st $150,000 57,708,421 $1,159,785 $352,778 $518,870 5266,916
<br />4.0 %over $9,250,105 $1,159,785 5414,446 $609,571 5357,617
<br />Petrina Park Calculation:
<br />Number of Units 89
<br />Average Cost Per Unit $138,500
<br />Tax Capacity Per Unit $1,925
<br />Taxes Per Unit @ 147.081% $2,831
<br />Total Taxes When Developed $251,954
<br />(1% 1st 75,000; 1.85% over)
<br />PAGE 2
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