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FEB-04-98 04 :04 PM PELSTRING01 5509221 P. 05 <br /> • ASSOCIATED DEVELOPERS,INC. <br /> HIGHWAY t0 6 HIGHWAY 101 <br /> EX RIVER,MINNESOTA <br /> ESTIMATED DEVELOPMENT COSTS <br /> ACQUISITION <br /> Purchase Price 53,600,000 <br /> Closing/transaction fees 5250.000 <br /> Subtotal 53,850,000 <br /> DEVELOPER COSTS <br /> Mobile home park relocation costs $425,000 <br /> Engineering $72,400 <br /> Legal $112,000 <br /> Development fees $250,000 <br /> Permits b local fees 5135,000 <br /> Environmental 6 site surveys 595,000 <br /> Closing/contingency $30,000 <br /> Subtotal 51,119,400 <br /> 110 <br /> SITE DEVELOPMENT COSTS <br /> SsII corrections/overall grading $250,000 <br /> Site grading and pad preparation $4,756,793 <br /> Pipeline Relocation SO <br /> Wetlands Mitigation $260,000 <br /> Trunk sanitary sewer 6 water $434,160 <br /> Lateral Sanitary Sewer&water 5207,500 <br /> Sheet Assessment $753,104 <br /> Storm Drainage 5192,550 <br /> Main Street improvements 5213,232 <br /> Subtotal $7,067,339 <br /> SALES 6 HOLDING COSTS <br /> Sales costs $336,000 <br /> Financial/Holding Costs 5140,000 <br /> Real Estate Tues $67,000 <br /> Accounting/Administration 525.000 <br /> S568,000 <br /> TOTAL PROJECT COSTS <br /> 512,604,739739 <br /> PER ACRE (TOTAL) $185,364 <br /> ST-PER SQUARE FOOT(TOTAL) $4.26 <br /> COST-PER ACRE(USABLE) 5286,471 <br /> COST-PER SQUARE FOOT (USABLE) $6.58 <br />