Laserfiche WebLink
.~ <br />~< ~ <br />ASSUMPTIONS -10/22/97 Financial Model ~~ <br />Private occupancy of speculative space ~ <br />Five Sto Structure ~~ <br />ry <br />Assumes Marion County occupies 82,959 sf. An additiona12,633 sf is assessed for'/z interest in the first <br />floor conference room. Assumes a 0% vacancy rate. . <br />-Assumes Salem Area Transit's share of the project is $ 9,844,000. <br />1,,,a -The models reflect rents at $1.29 / mo. Per rentable sf ($15.50 annually). <br />~~.-, <br />~ 5 w -Expenses are assumed to be $.28 / mo. Per rentable sf ($ 3.41 annually). The County reimburses <br />~ ~°~ expenses escalated over base yeaz expenses. <br />! V~%I~ ' ` -T'he model assumes 258 stalls subsurface and 59 above grade parking stalls. <br />fr L2p <br />w"`~~ -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.~3% blended interest rate on a standard 25-year amortization schedule. <br />o ' <br />-The exempt portion of the blended interest rate is 5.92%. -~-xx,~~[a.~1 ~'y 3/ <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 escalations over base year <br />expenses. ~ j <br />-Leasing commission is calculated at 5% for the first five years 2'/Z% for the second five years. <br />-'The non-exempt portion of the blended interest rate is 8%. <br />Assumes Salem Area Transit controls 24,193 sf of o~ce. An additiona12,633 sf is assessed for'/~ interest <br />in the first floor conference room. <br />-Assumes Transit pays $ 9,844,000 cash for their interest and pays no rent. <br />-Expenses are assumed to be $.28 / mo. Per rentable sf ($ 3.41 annually). Transit reimburses their <br />prorata share of these expenses. <br />-T'he model ~ssumes that transit controls 40 subsurface parking stalls. <br />~,:~..r.=., ~,~-. ~,-~ ~~ . ~ ~.~,.~- C ~ K ~ <br />~~2c,~~ ~- ~/~~~,J~~.~. S'~~ ~~ . L1,k.¢_ I-~o.., ,,~.,~~. .rw~.~2 <br />~ ~ <br />S ~ /~~~ .~.~ ~, ~_~,~-~" ~,~ <br />~c~ Q -~.- -Y~- ~`•-~''~- ~~~ ~~.~- .~~~1 7;~ a. ~-~.~,e~ c~.~~- <br />