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EXHIBIT D <br /> HILJGO COMMONS PROFORMA <br /> EFFECT ON RETURN ON EQUITY INVESTMENT OF NO TIF <br /> ......................................................................................................................... <br /> WITHOUT TIF WITH TIF <br /> r..............................................T...................I.............T.......................................................................................................................... .............................................................................................................. <br /> SQ FT RENT/SQ FT SQ FT RENT/SQ FT <br /> L ........................................L................................. .............................................................. ................................................. ........................................................................................................... <br /> RETAIL 23,000 $16.80 $386,400 RETAIL 23,000 $16.80 $386,400 <br /> ......................................... <br /> $o fv <br /> TIF $59,143 <br /> ..............................................Z................................. ........................................................................................................................ ........................................................................... <br /> ................................ <br /> TOTAL 23,000 $386,400 TOTAL 23,000 <br /> $445,543 <br /> ?................................................. .....................................z...................................................................... <br /> VACANCY 10% $38,640 E VACANCY 100% $38,640 <br /> ........................... ................................................. .................................... <br /> ......................................... <br /> EFFECTIVE RENT $347,760 EFFECTIVE RENT <br /> $406,903 <br /> ....................................................................................................................r...........................T.......................................................................................................................................................................... <br /> RE TAX ON VACANCY $3.88 sq.ft. $8,924 RE TAX ON VACANCY $8,924 <br /> .......................................................................................................... <br /> CAM ON VACANCY $3.95 $9,085 CAM ON VACANCY <br /> $9,085 <br /> ................. ......................... <br /> ................................ <br /> .............................................. ................................. ............................................................. ................................................. ............................................................................ <br /> ............................... <br /> 1 NOI $329,751 NOI $388,894 <br /> :.............................................. ................................. ....................................................................... ................................................. .................................... ........................................ <br /> ..................... <br /> DEBT $326,252 DEBT <br /> $326,252 1 <br /> ................................................i................................. ............................................................. ................................................. .................................... ........................................................................ <br /> 1 CASH FLOW $3,499 CASH FLOW <br /> $62,642 <br /> ..................................&............................................................. ................................................. ........................................................................................................... <br /> EQUITY $853,490 1 EQUITY $853,490 <br /> ............................................... ................................. ............................................................. .............................................................................................................................................................. <br /> E RETURN **0.41% RETURN **7.340/o <br /> .................................................................................................o........................................................................................................ ........................................................................................................... <br /> .......................................................................................................................................................... <br /> BLDG VAIJSQFT TOT VAL <br /> 23,000 $160.87 $3,700,000 <br /> COST: $183.85 $4,353,490 WITHOUT DE- <br /> VELOPER FEE <br /> DEBT AS PERCENT OF COST 800/0 <br /> 1 DEBT $3,500,000 <br /> 1 EQUITY $853,490 <br /> RETURN ON EQUITY GOAL 10% $85,349 <br /> DEBT PMT 7% 20 YR $326,252 <br /> ..................... ...... .... ..... ............. <br /> ** Need to get to a 10%annual return <br />