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ILLUSTRATION <br />ECM PUBLISHERS, INC. <br />KING AND MAIN STREET OFFICE <br />Background <br />A. Existing Properties <br />931 Main Street <br />317 King Avenue <br />307 King Avenue <br />$ 4,601 net tax capacity <br />3,248 <br />$13,650 original net tax capacity <br />B. Hypothetical Office <br />$ 975,000 building value <br />162.000 land value ($5.00 per sq. ft.) <br />$1,137,000 <br />$1,137,000 times 4.6% (commercial property -second parcel) <br />equals net tax capacity of $52,302 <br />C. Captured Net Tax Capacity <br />$52,302 net tax capacity of office building less <br />13,650 original net tax capacity equals <br />$38,652 "captured" net tax capacity <br />D. Estimated Tax Increment Value <br />$38,652 "captured" net tax capacity times <br />1.04247 1995 tax capacity rate equals <br />$40,294 tax increment <br />HRA/City Project Debt -estimated and assumed <br />$238,000 (purchase price of three existing sites at King/Main <br />of $40,000 less $162,000 attributable to "land only" <br />value [$5.00 per sq. ft.]) <br />Demolition 22,000 <br />Site Prep/Site 1r 0 <br />Development <br />• TOTAL $275,000 <br />