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HUGO COMMONS PROFORMA <br /> EFFECTS ON RENTS OF NO TIF <br /> ...........................................................................................................................................................I .................................................................................................................................................................... <br /> WITHOUT TIF WITH TIF <br /> ....................................................................................................................................................... ................................................. ................................. .............................................................................. <br /> SQ FT RENT/SQ FT SQ FT RENT/SQ FT <br /> ................................................................................................................ ...................................... ................................................. ................................. ............................................................................... <br /> RETAIL 23,000 $20.10 $462,300 RETAIL 23,000 $16.80 $386,400 1 <br /> ............................................................................ ............................................................................. <br /> i TIF $0 TIF $59,143 <br /> ........................................................................... ........................................................................... ................................................. ................................. ................................. ............................................ <br /> TOTAL $462,300 TOTAL $445,543 <br /> ........................................................................... .................................... ...................................... ..................................................................................................................... ........................................... <br /> VACANCY 10% $46,230 VACANCY 10% $38,640 <br /> ........................................................................... <br /> I EFFECTIVE RENT $416,070 E E EFFECTIVE RENT $406,903 <br /> ............................................................................ ....................................................................................................................................................................................................................................................... <br /> RE TAX ON VACANCY $3.88 sq.ft. $8,924 RE TAX ON VACANCY $3.88 sq.ft. $8,924 <br /> .................................................. <br /> ................................................Z,......................................i ................................................. ................................. ............................................................................. <br /> CAM ON VACANCY $3.95 $9,085 CAM ON VACANCY $3.95 $9,085 <br /> .......................I................................................... .................................... <br /> .................?................................................................................... ................................. ........................................... <br /> ................................................................................................................ ...................................... ................................................................................... ............................................................................. <br /> NOI $398,061 is NOI $388,894 <br /> .......................................................................... .................................... ...................................................I.......................................... ................................. ................................. ............................................ <br /> DEBT $326,252 DEBT <br /> $326,252 <br /> ........................................................................... <br /> .................................... ...................................... ................................................. ................................. .............................................................................. <br /> CASH FLOW $72,809 CASH FLOW $62,642 <br /> ................................................................................................................ ...................................... ................................................................................................................................................................. <br /> I EQUITY $853,490 EQUITY $853,490 <br /> ................................................................................................................r..............................................r...................................................................................r..............................................................................n <br /> RETURN 8.53% E RETURN "734% <br /> ............................................................................. <br /> I.................................... ..............................................;................................................................................... ............................................................................. <br /> ............................................................................................................................................................. <br /> BLDG VALJSQ FT 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 80% <br /> DEBT $3,500,000 <br /> I EQUITY $853,490 <br /> RETURN ON EQUITY GOAL 10% $85,349 <br /> I DEBT PMT 7% 20 YR $326,252 <br /> ............................................................................................................................................................. <br /> ** Need to get to a 10% annual return <br />