2009.02.23 EDA Packet - Laserfiche WebLink

Home

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