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Vill. SAMPLE BUT-FOR ANALYSI'S
<br /> WITI I NO WITI I
<br /> TAXABATI-'MENT TAX ABATEMENT
<br /> SOURCES AND 1;;ES SOURCL,S AND USF�S
<br /> SOURCES S0U,,RCJ-'1S
<br /> Mortgage 9,600,000 8,667,000,
<br /> Equity 2,400,000 2,400,00
<br /> 'Fax AbAtement, 0 933,000
<br /> TOTALSOURCES 12,000,000 12,000,000
<br /> USLI'S USES
<br /> Land 1,5()0,000
<br /> rite Work 300,000 300,000
<br /> Soil Col rectI011 468,000 468,000
<br /> Dern(Aidon 100,000 100,000
<br /> Rcicwation 65,000 65,000
<br /> Subtwil Land Costs 2,433,000 2,� 33,000
<br /> Coils tructI011 6,750,000 6,750,000
<br /> Finish Nfiarlufacturii-.Ig 250,000 250,000
<br /> Subtotal C oilstructicrn costs 7,000,000 7,000,000
<br /> Soft Costs 350,000 350,000
<br /> Taxes 35,000 3-5,000
<br /> I il Inance Fees 850,000 850,000
<br /> Procct Manager 542,000 542,000
<br /> Developer Fee 540,0(.0 540,000'
<br /> C'011011gericy 250,000 250,000
<br /> Subtotal Soft Cost's 2,567,000 2,567,000
<br /> TOJ'AL USE'S 2,00(,),()()() 12,000,000
<br /> Income Statement 111con-le:tatetncnt
<br /> Sq Ft. Per Sq. fltl Sq, Ft. Per Sq. Ft
<br /> Rent.-Space I 1 0,0 58,00 wo,000 100,000 $8.00 80(),()()o
<br /> Rent-Space 2 25,000 $&50 212,500 25,000 58.50 212,500
<br /> Rent-Space 3 25,0()0 KOO 225,000 2-3,000 59.()0 225,000
<br /> C)ther $0.04) 0 0 SUM 0
<br /> 1,237,5001 T,237,500
<br /> morigage 201'erm 1,051,646 20 Term, 949,439
<br /> 9.00% Imcrest 9M"/c, Interest
<br /> 9,6001,000 Principal 8,667,000 Principal
<br /> Net Tncome 185,854 288,061
<br /> Total Return on [,,quity - 7,74'`G 12.00'`/fl
<br /> City of Elk River Tax Increnwor Fitiancing Policy&Application- lJousing
<br /> Ail'iended April 8 2015 a I D I f
<br /> Page 8of 14 INATUREI
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