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<br />1 0/25/2004 <br /> <br />Prepared by Ehlers <br /> <br />City of Elk River <br />River Front Redevelopment <br /> <br />S~ff <br /> <br /> <br /> <br />DEVELOPER FINANCING <br />DEVELOPER eaUITY <br />AMOUNT FINANCED <br /> <br />% OF FINANCE TOTALS <br />1,088,332 <br />362,111 <br />1,448,4.12 <br /> <br /> 0.00% 0 <br />TOTAL SOURCES 100.0(10/0 1,44',442 <br /> Per Sq. Ft. % OF TOTAL SUBTOTAL TOTALS <br />ACQUISITION COSTS 22,870 <br />Property_.5Acres 2,67 ..21%;1: :!:n!'!!!!.,;iiO,#'i 61,000 <br />DemoliUon 0.00 0.00% 0 <br />Relocation 0.00 0.00% 0 <br />Asbestos 0.00 0,00% 0 <br />CONSTRUCTION COSTS 819.000 <br />Shops Shell 83,00 56.54% 819,000 <br />Office Shell 0.00 0.00% 0 <br />Office Common Area 0.00 0.00% 0 <br />Par1lingLot 0,00% 0 <br />Signs,benches,trash,etc 0 <br />Streets 0 <br />Ponding 0 <br />TENANT IMPROVEMENTS 195,000 <br />Tenant Improvements 15.00 13,46% 195,000 <br />Tenant Allowances 0.00 0 <br />SOFT COSTS <br />PREDEVELOPMENT COSTS 94,320 <br />Archited & Civil 6.22% 90.060 <br />Govemmental 0 <br />Environmental 0 <br />Legal_Survey_Hie 029% 4,280 <br />Survey & Soli Testing 0 <br />CONSTRUCTION COSTS 11,000 <br />Architedure&Civil-Buildings 0 <br />Building Mech& ElecEng 0.38% 5,500 <br />MaterielTestino&lnsp 0 <br />Builders Risk 0 <br />Environmental Enoineering 0 <br />InspeClingArchiteCl 0 <br />Appraisals 0.38% 5,500 <br />INTEREST EXPENSE <br />LendlPredevlGoV'UFinancelLegal <br />Construction Loan Interest <br />Par1l Dedication YET TO BE DETERMINED 0 <br />LEGAL-Borro_r 2.24% 32,500 32,500 <br />REAL ESTATE TAXES 0,07% 1,000 1,000 <br />FINANCING 79,735 <br />Interest Reservas 2,18% 31,345 <br />Bank Legal 0.69% 10,000 <br />Recording & ClosinO Costs 0.92% 13,390 <br />Lease Up Deflcit 1.73% 25,000 <br />Loan (Construction) 0 <br />LEASING $4.00 3,59% 52,000 52,000 <br />PROMOTION COSTS 0 0 <br />OFFICE OVERHEAD 0 <br />Metro Plains <br />ReproduClion&CoUrH1r <br />Travel <br />DEVELOPER FEE <br />MISC 0.34% <br />CONTINGENCY 1.73% 25,000 25,000 <br />Total Soft Com 373,442 <br />TOTAL USES 100.000/0 1,44',442 <br /> <br />Page 6 of 13 <br /> <br />Appendix H Metroplains proforma <br />