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Page 1 of 2 <br /> Rachel <br /> From: Bryan Bear <br /> Sent: Monday, February 23, 2009 8:12 AM <br /> To: Rachel <br /> Subject: FW: Proposed Carpenters project <br /> -----Original Message----- <br /> From: Mikaela Huot [mailto:mhuot@springsted.com] <br /> Sent: Monday, February 23, 2009 8:03 AM <br /> To: Bryan Bear <br /> Subject: Proposed Carpenters project <br /> Hi Bryan - <br /> I was not able to connect with Jim Holmes prior to the EDA meeting regarding the preliminary analysis of the <br /> proposed Carpenters project. <br /> However, he did leave me a voicemail indicating the projections are very preliminary and subject to further <br /> refinement. <br /> I was not able to receive verification to my questions but can still provide you with a summary for the EDA meeting: <br /> General assumptions: <br /> Base valuations assume certification prior to June 30, 2009 <br /> The difference in base values between Scenario 1 and Scenarios 2 and 3 is the building value of one of the <br /> properties (20.031.21.24.0045- and I'm not sure why <br /> 1% compounded market value inflator over 26 years <br /> Fiscal disparities contribution outside district <br /> All properties classified as commercial-industrial <br /> Total values per square foot (building only) range from $143 - $185/sq ft <br /> Scenario 1: <br /> Base value of 5 parcels (land and building value) is $758,700 <br /> Total value -$230/square foot(including land) is $2,000,000 <br /> Value for building only is $143/sq ft <br /> Total gross increment over 26 years is approximately $617k (future value) <br /> Total net increment over 26 years is $553k (future value) <br /> Total increment (present value at 5%) is $276k <br /> Total increment(present value at 6%) is $245k <br /> Scenario 2: <br /> Base value of 5 parcels (land value - no building value of 1 parcel) is $594,200 <br /> Total value-$230/square foot (including land) is$2,000,000 <br /> Value for building only is $162/sq ft <br /> Total gross increment over 26 years is approximately $685k (future value) <br /> Total net increment over 26 years is$615k (future value) <br /> Total increment(present value at 5%) is $308k <br /> Total increment(present value at 6%) is $273k <br /> 2/23/2009 <br />