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FEB-04-98 04 :04 PM PELSTRING01 5509221 P. 06
<br /> • ASSOCIATED DEVELOPERS,INC.
<br /> HIGHWAY 10 6 HIGHWAY 101
<br /> ELK RIVER.MINNESOTA
<br /> PROPERTY DEVELOPMENT/SALES PRICES
<br /> LAND REIMBURSED TOTAL
<br /> LOT.R USE ACREAGE it FT. SALES/SF SUS PRICE SITE DEVELOPMENT SALES PRICE
<br /> 1 Large commerdal user 15.00 653,400 52.50 81,633,500 52,000,010 83,633.510
<br /> 2 Large commercial user 14,00 609,840 53.00 51,829,520 $1,973,000 $3,802,520
<br /> 3 Mid site user 1,72 75,000 53.50 5262,500 $249,793 5512,293
<br /> 4 Pad site•accesssory user 1.38 60,000 53.50 5210,000 5210,200 5420,200
<br /> S Pad she•accesssory user 1.38 60.000 53,50 5210,000 5210200 5420,200
<br /> 6 Pad site-'caisson/user 1.61 70,000 53.50 5245,000 5270,000 5515,000
<br /> 7 Pad site-accesssory user 1.00 43,560 53.50 5152,460 5261.000 5413.460
<br /> 8 Pad she•accessory user 1,00 43,560 53.50 5152.460 5261,000 5413.460
<br /> 9 Pad site-accessory user 1.00 43,560 53.50 $152,460 5261,000 5413,460
<br /> 10 Convenience Store 2.00 87,1.20 $3.50 5304,920 $392,500 5697,420
<br /> Total sales 40.08 1,746,040.00 5,152,820.00 6.088,703.00 11,241,523.00
<br /> DEVELOPMENT RECAP
<br /> Total Sales $11,241,523
<br /> Less:Acquisition (53,850,000)
<br /> Developer costs (51.119,400)
<br /> Site development Costs ($7,067,339)
<br /> IIISales and Holding Costs (556(000).
<br /> Profit before Investment return (51,363,216)
<br /> Developer Profit 6 Overbead 1,500.000
<br /> City TIF request-Net Present Value 2,863,216
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