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.Jan 18 99 11 :51p John Seibert (612) 421-0549 p. 2 <br /> Mermaid Complex - Development Project Costs <br /> Co Developed by Halls, LLC & JCS Development, Inc. <br /> Land costs <br /> $350,000.00 <br /> Purchase of B.E.C.Property 350,000.00 <br /> Purchase of Music Off 10 Property $$350,000.00 <br /> Purchase of Easement&Pond-Cabot 100,000 ft $8.00/sqft $800,000.00 <br /> Purchase of Property From Mound Vista sq $1,600,000.00 <br /> Total Land Costs <br /> Land Improvement Costs <br /> $9000;000.00 <br /> Parking Lot development 10 ,000.00 <br /> Parking Lot Landscape&Curbing $50,000.00 <br /> Parking Lot lntergration Costs $ 50,000.00 <br /> Demolition and removal $100,000.00 <br /> Holding Pond Construction $425,000.00 <br /> Total Land Improvement Costs <br /> Construction Costs <br /> Building costs-Hotel $5,075,000.00$525,040.00 <br /> FF&E costs for Hotel $1,200,000.00$ <br /> Building costs-Banquet Center $250,000.00 <br /> FF&E costs for Banquet Center $240,000.00 <br /> Building lntergration Costs $100,000.00 <br /> Glass Foyer between Buildings $100,000.00 <br /> Manso <br /> rd for the Mermaid $ 00,000.00 <br /> Total Construction Costs <br /> Development&Soft Costs <br /> Financing&Soft Costs for Hotel $200,000.00 <br /> Development Costs-Hotel $200,000.00 <br /> Contingency&Working Capital-Hotel $175,000.00 <br /> Financing&Soft Costs for Banquet Center $55,000.00 <br /> Development Costs-Banquet Center $75,000.00 <br /> Contingency&Working Capital-Banquet $50,000.00$$5 ,000.00 <br /> Total Development&Soft Costs <br /> Total Project Development Costs. $10,270,000.00 <br /> Financing Requirements <br /> Equity Requirements <br /> Cash $867,500.00 <br /> TIF Proceeds $1.700.000.00 <br /> Total Equity $2,567,500.00 <br /> Debt Financing $7,702,500.00 <br /> Total Project Development Costs $10,270,000.00 <br />