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Page 2 of 2 <br /> Scenario 3: <br /> Base value of 5 parcels (land value - no building value of 1 parcel) is $594,200 <br /> Total value - $253/square foot (including land) is $2,200,000 <br /> Value for building only is $185/sq ft <br /> Total gross increment over 26 years is approximately $780k (future value) <br /> Total net increment over 26 years is $700k (future value) <br /> Total increment(present value at 5%) is $351 k <br /> Total increment (present value at 6%) is $312k <br /> In summary- most of the initial assumptions seem reasonable. Since I was not able to confirm what the actual <br /> request for assistance is from Jim, aside from the$300k that has been indicated, we don't really know what the gap <br /> is, if any. We will also need the project sources and uses to analyze it further. <br /> Please let me know if you have any questions or need additional information. <br /> Thanks, Mikaela <br /> Mikaela R. Huot,Assistant Vice President <br /> Consultant <br /> Springsted Incorporated <br /> 380 Jackson Street,Suite 300 <br /> Saint Paul, Minnesota 55101.2887 <br /> 651-223-3036 <br /> 651-268.5036 Fax <br /> mhuot@springsted.com <br /> Visit us on the web at www.springsted.com <br /> This communication is confidential and intended for the addressee only. If you are not the intended recipient,please notify the sender immediately and then <br /> delete this communication from all data storage devices and destroy all hard copies. Dissemination,distribution,copying and/or other use of the information <br /> contained in this communication is strictly prohibited. <br /> 2/23/2009 <br />