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,~ . • • ~ -~ SUMMARY OF PROPOSAL ;- ~ I,and Value ~ Lease; Developer to lease t~e land bac~ ~rom Marion County based on a?~'et Land Lease. Annual payments to be paid to t~e County once tke developer ~ias received ~ a net cask on cask return o~ 15%. Return will be based on t~e developers'equity position to b,uid tke private space. Annual payments to be based on a 10% equity yield o~ t~e poztion o~ the land to buildin~ area t~at t~e developer will occupy o~ ~ t~e total project area. Example: As s~own above if t~e Developer percentage is 7.25% and the ~ land value is equal to ~142,455 t~ien the annual zental rate would be, ~14,2~6. ~ In no event would t~e rental rate exceed 10% o~ t~e value o~ t~e project based on t~e land value at tlie time o~ construction. Based ~~mple t~is would equal an ~ amount o~ ~'.~1~,24f~. ~ Term: would be ~or 99 y~~ ~~ and option. Bui~c~ing Lease Terms; 1 County to lease t~e portion o~ t~e 61,000 NSF plus t~e prorated comman area ~-'~ bac~x ~rom t~e developer / project coordinator ~oz a period o~ 25 years ~or t~e ~oll~~ t~s: ~ Wit~ cost savin ideas, or Fec~eral Grant Dollars ~rom I~larion County: ~ ~ Assumptions: Construction Cost: ~12,685,000 @ 71,000 GSF/61,000 ns~ Maximum Loan Amount: 0,841T000 ~a 6.5% / 25 yrs. ~ Cash or Sa.rin~ by County: ~ 1,844,000 Lease Rate: ~1~.~0 year or 5~1.20 mont~ Net jquare Footage. ~ Annual Rent o~: ~1,080,000. ~ Common areas: estimated at: 85 to 1 Ratio. S~ould common area be increased t~en t~ie rental rate would increase. ~ Full Service Lease; (Excluding interioz Janitorial jervice) -~ Adjusted annually up or down based on operating cost ~or t~e buildin$. ~ ~de 12I Summarv o{ P~~~l ~ DAN BERREY, P. C., BROKER ~