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JOHN C.WEICHT AND ASSOCIATES LLP ♦m
<br /> Vi.
<br /> ;R
<br /> i DESIGN GENERAL CONTRACTORS BUILDINGS
<br /> BUILD P.O. Box 368, Elk River, Minnesota 55330
<br /> Telephone: (763) 633-3600 • Fax: (763) 633-3601
<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
<br /> Soil Correction
<br /> Demolition
<br /> Relocation
<br /> Subtotal Land Costs 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 /> IPNet Income 60,752 100,902
<br /> Total Return on Equity 7.03% 11.67%
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