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06/15/00 15:50 FAX 6512233002 SPRINGSTED INC. �ihnte <br /> 39 <br /> • The Findings <br /> More than 50% of the buildings are found structurally substandard due to a combination <br /> of defects that are of sufficient total significance to justify substantial renovation or <br /> clearance and qualifies the buildings as eligible under the statutory criteria and formula <br /> for Tax Increment Financing District Funding. <br /> Example of a Typical Calculation would estimate$75 dollars per square foot for <br /> commercial/retail food service use replacement cost times 15 % equaled the formula <br /> threshold and when the cost of necessary renovation exceeded the amount of the 15% <br /> cost of replacement the calculation concluded thereby qualified the building as <br /> structurally substandard in accordance with Laws of Minnesota. <br /> Cc Springsted Corp. <br /> • <br /> • <br />