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• These prices were determined by using a Cap Rate Analysis. A Cap Rate of 9.5% <br /> was used with the following assumptions: <br /> EDA Building — $8.00 PSF 11,600 sf office <br /> — $6.00 PSF 47,100 sf manufacturing <br /> — $4.00 PSF 47,100 sf warehouse <br /> Building 2 — $8.50 PSF 90,800 sf R & D <br /> — $4.00 PSF 10,000 sf warehouse <br /> Building 3 — $8.00 PSF 50,400 sf office <br /> — $4.00 PSF 50,400 sf warehouse <br /> YMCA — $13.50 PSF Multiple uses <br /> 4) An estimate of the build-out time for all parcels <br /> We anticipate that development of this park would take place over a period of <br /> approximately 2—3 years. The plan would be to finish the first 105,800 sf EDA <br /> building in 2005. The other buildings would be constructed as build-to-suit <br /> clients are identified or in the case of the YMCA, as funding is available. <br /> Construction time for each facility would vary from 6— 12 months depending on <br /> • what is constructed. <br /> 5) When including SAC, WAC, park dedication fees, current special <br /> P <br /> assessments and future public improvements, what is the estimate of the 1:1 <br /> amount a third party would or could pay per square foot of land? r4th <br /> We estimate the value of this property to be in the $1.50- $2.00 psf range. 'fl <br /> SAC and WAC costs would be included as part of the building construction cost. ' <br /> Park dedication fees would be paid by the EDA as noted in the request for <br /> proposal. Special assessments and future public improvements have not been <br /> determined. <br /> 6) List the estimated development fees and overhead expenses <br /> Development fees and overhead expenses would be included as part of the <br /> building construction cost. <br /> • <br /> 4 <br />