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DESIGN
<br />BUILD
<br />
<br />JOHN C.
<br />
<br /> AND SSOCIATES LLP
<br />
<br /> GENERAL CONTRACTORS
<br />P.O. Box 368, Elk River, Minnesota 55330
<br />Telephone: (763) 633-3600 · Fax: (763) 633-3601
<br />
<br />BUILDINGS
<br />
<br /> WITH NO WITH
<br /> TAX REBATE FINANCING TAX REBATE FINANCING
<br /> SOURCES AND USES SOURCES AND USES
<br /> SOURCES SOURCES
<br />Mortgage 3,856,000 3,456,000
<br />Equity 864,000 864,000
<br />Tax Rebate Financing 0 400,000
<br />TOTAL SOURCES 4,720,000 4,720,000
<br /> USES USES
<br />Land 300,000 300,000
<br />Site Work 65,000 65,000 i
<br />Soil Correction
<br />Demolition
<br />Relocation
<br />Subtotal Land Costs i 365,000 365,000
<br />Construction 3,626,000 3,626,000
<br />Finish Manufacturing
<br />Subtotal Construction Costs 3,626,000 3,626,000
<br />Soft Costs 100,000 100,000
<br />Taxes
<br />Finance Fees 100,000 100,000
<br />Project Manager 184,000 184,000
<br />Developer Fee 92,000! 92,000
<br />Contingency 253,000 253,000
<br />Subtotal Soft Costs 729,000 729,000
<br />TOTAL USES 4,720,000 4,720,000
<br /> Income Statement Income Statement
<br /> Sq. Ft. Per Sq. Ft. Sq. Ft. Per Sq. Ft.
<br />Rent-Space 1 41,889 $12.50 523,612 41,889 $12.50 523,612
<br />Rent-Space 2 4,834 $8.00 38,672 4,834 $8.00 38,672
<br />Parking 18 $360.00 6,480 18 $360.00 6,480
<br />Vacancy Loss 10% (56,876) 10% (56,876)
<br />Oper. Expense (64,098) (64,098)
<br />Mortgage 20 Term 387,038 20 Term 346,888
<br /> 8.00% Interest 8.00% Interest
<br /> 3,856,000 Principal 3,456,000 Principal
<br />Net Income 60,752 100,902
<br />Total Return on Equity 7.03% 11.67%
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