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3/4/2004 BUT-FOR ANALYSIS Page 1 of 2
<br /> WITH NO WITH
<br /> TAX REBATE TAX REBATE
<br /> Ill
<br /> SOURCES AND USES SOURCES AND USES
<br /> SOURCES SOURCES
<br /> Mortgage 1,456,000 1,256,000
<br /> Equity 50,000 50,000
<br /> Tax Rebate Financing 0 ZOO 000
<br /> TOTAL SOURCES 1,506,000, 1,506,000
<br /> USES USES
<br /> Land 185,000 185,000
<br /> Site Work 15,000 15,000
<br /> Soil correction
<br /> Demolition
<br /> Relocation 50,000 50,000
<br /> Subtotal Land Costs 250,000 250,000
<br /> Construction 1,160,000 1,160,000
<br /> Finish Manufacturing
<br /> Subtotal Construction Costs 1,160,000 1,160,000
<br /> 4 Soft Costs
<br /> Taxes
<br /> Finance Fees Cap Interest 54,000 54,000
<br /> Project Manager
<br /> Development Fee
<br /> Contingency 3% 42,000 42,000
<br /> Subtotal Soft Costs 96,000 96,000
<br /> TOTAL USES 1,506,000 1,506,000
<br /> Income statement Income Statement
<br /> Sq. Ft. Per Sq. Ft.
<br /> Rent-Space 1 10,000 $6.00 60,000 60,000
<br /> Rent-Space 2 10,000 $6.00 60,000 60,000
<br /> Vacancy 7% Space 2 (4,200) (4,200)
<br /> TOTAL INCOME 115,800 115,800
<br /> Mortgage TERM 20
<br /> RATE 6.00%
<br /> PRINCIPAL 1,456,000 1,256,000
<br /> DEBT SERVICE PAYMENT 126,941 109,504
<br /> • Net Income -11,141 6,296
<br /> Total Return on Equity i
<br /> BUT-FOR ANALYSIS-orluck-2-pst
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