Financial- Argus Financial Assumptions Model

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10/30/97 THU 17:21 FA!i 503 223 4606 MELVIN ~iARK C09IP~NIES , • ASSUMPTIONS -10/30/97 Financial Model (10:23A11~ Fonr Story -192 subsurface stal]s Assumes Marion Caunty occu~ies 83,122.sf. An addtiona12,651 sf is assessefl for'/: interest in the first floor cunference room Assumes a 0% vacancp rate. , -Assumes Salem Area Transit's share of the project is $ 9,844,000. -The models reflect rents at S 1.33 / mo. Per rentable sf ($16.00 annnally). •Expmses aze assumed to be 5.28 / mo. Per rentable sf (S 3.41 annually). The Couaty reimburses expenses escalated over base year exgenses. -The model assumes 192 stalls subsurface and 59 above grade parlang stalis_ -The model assvmes County controls 152 s~lls and generates S 40 per stall on all spaces, with a 15% avessell, and esCalates at 4% anuually. -Assumes a 5.79% interest rate on a standazd 25 year amortiration schedule. The model assumes there is no private sector non-exempt tenani -Assumes the County pays expense escalatian over base year. Assumes Salem Area Traz~sit controls 22,614 sf of office. An additiona12,651 sf is assessed for %a interest in th~ first floor conference room ~ -Assumes Transit pays S 9,844,OOQ cash for their interest and pays no rent -Expenses are assumed to be S.28 / mo. Per rentable sf (S 3.41 annnally). Transit reitnburses their prorata share of these eacpenses. ~002 The mudel assumes that transit con~ols 40 svbsutface parldng stalls.