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PALMER <br />GROTH & <br />PIETKA INC <br />REAL F.STATC• ANALYSI5 <br />February 16, 1998 <br />Mr. Ken Roudybush <br />Administrative Officer <br />Marion County <br />Board of Cominissioners <br />100 High Street <br />Salem, Oregon 97301 <br />RE: COURTHOUSE SQUARE <br />Court and High Streets <br />Salem, Oregon <br />Dear Mr. Roudybush: <br />As you requested, we have conducted consultation analysis regarding Marion County office <br />portion of the proposed Courthouse Square project. The purpose of this consultation report is to: <br />(1) Present a oomparison per square foot of the present value of leasing at market rates versus <br />building the referenced office space; <br />(2) Present a comparison per square foot of the present value of leasing at market rates versus <br />the present value of the scheduled contract rendownership position; and <br />(3) Present graphic illustrations of these comparisons. <br />To prepare this analysis, we have used generally acx;epted consultation principles and theory. 'I'his <br />consultation is intended to conform with Standards 4 and 5 of the Uniform Standards o, f <br />Professional Appraisal Practices (USPAP) formulated by the Appraisal Foundation. <br />pONAID R PAI2.~R, MAI <br />DAVm W. GR07I'1.1vfA1 <br />DAVm E. P~'IKA, MAI <br />BRIAN L. KffiLS1G MAI <br />'PODD & G~OW, MAI <br />MI(IiAEL P. GRII~IN. MAI <br />PHII.IP I.. SI'BPFHN. MAI MARK M. I.A{M{NII.I. MAI <br />Q~RIS1'OPHER K MONGER, MAI TA~IOTHY E. WRICFI'4 MAI <br />