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~ , Gl/V'Y^pLJ~tN~~ ~oS~s ? `^, ~'" ,~~~, <br />' ,~1 f b s~-v.eicR.~- I~o~.,a,u /~~1~-.;:~ ~~ ~~l%+'~C,LC~"'~7 <br />• • M U~S t C.~ 0~~.~a-.Lti?s ~~rr o t.-i '~- ~rw. Gr ~ G c y`- d, oo~ : 3 Q N b~'ht <br />~sCv ~. Y~-.-~~,'E; ~ W ~ ~ ~ ~ w~ ~.iiW <br />~ ` ' ~ ~ F _ 3 ~ ~ ., ~ .a .'~. o-t r-~ e~' ~`~ -i1e 1~ a4 a ~'*~ . <br />d1 YJ ~~-.`~~\l-~ 4 'o!/ ( 2Y~Y ~. /~/~ '` l ~~ <br />ASSUMPTIONS -10/22/97 Financial Model (1:46 P1V~ REVISED <br />Private occupancy of speculative space <br />Five Story Structure <br />Assumes Marion County occupies 82,959 sf. An additiona12,633 sf is assessed for'/: interest in the fust <br />floor conference room. Assumes a 0% vacancy rate. <br />-Assumes Salem Area Transit's shaze of the project is $ 9,844,000. <br />t .a~ <br />-The models reflect rents at .25 / . Per rentable sf ($15.00 annually). <br />-Expenses are assumed to be $.28 / mo. Per rentable sf ($ 3.41 annually). The County reimburses <br />expenses escalated over base year expenses. <br />-The model assumes 258 stalls subsurface and 59 above grade pazking stalls. <br />-The model assumes County controls 220 stalls and generates $ 40 per stall on all spaces and ,~. <br />escalates at 4% annually. <br />-Assumes a 6.34% blended interest rate on a standard 25-year amortization schedule. <br />-The exempt portion of the blended interest rate is 5.79%. <br />-Assumes the County pays expense escalation over base year. <br />Assumes Marion County Controls 28,965 sf of speculative space. Assumes the space is leased to a non- <br />exempt tenant The model assumes a 0% vacancy rate at building completion. <br />-Assumes a$1.60 per sf rent on the speculative space. Tenant pays escalarions over base year <br />expenses. <br />-Leasing commission is calculated at 5% for the fust five years 2'/~% for the second five years. <br />-The non-exempt portion of the blended interest rate is 8%. <br />Assumes Salem Area Transit con~ols 24,193 sf of office. An additiona12,633 sf is assessed for'/Z interest <br />in the first floor conference room. <br />-Assumes Transit pays S 9,844,000 cash for their interest and pays no rent <br />-Expenses aze assumed to be $.28 / mo. Per rentable sf ($ 3.41 annually). Transit reimburses their <br />prorata share of these expenses. <br />-The model assumes that transit controls 40 subsurface parking stalls. <br />,, ~ <br />S S~~ ?`~ b. Z-~-r. ~~ 1~ <br />~. 1~ ? 9~ p r,Y lz~~~ <br />