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Salem Area Transit 10 Year CH2 Operating Pro Forma Assumptions Explanation Assumption Number 1-10 Used estimates from MMDC proforma dated 2-11-98, Rental reimbu;sable expenses Assumptions 1-~ 0 increased 4% annually for 10 year projection • 11 Based on current square footage/personnel to additional footage Assumption 11 increased annually per Districts 10-year Financial plan 12 - 13 Estimate based on information from other Transit Districts expenses on comparable Malls Assumptions 12-13 increased 4% annually for 10 year projection 14 Used estimates from MMDC proforma dated 2-11-98 Assumption 14 increased 4% annually for 10 year projection 15 Transit District estimate of additional help needed Assumption 15 increased annually per Districts 10-year Financal plan 16 Parking Maintenance covered in items 11 and 12 17 Salem Area Transit will serve as their own leasing agent 18 Used estimates from MMDC proforma dated 2-11-98, Rental reimbursable expenses, Amount included in rental rate Assumption 18 increased 3% annually for 10 year projection 19 Actual monthly rental on 3 downtown offices and Parking spaces Assumption 19 increased 3% annually for 10 year projection 20 Average actual utility expenses for the 3 rented downtown offices Assumption 20 increased 4% annually for 10 year projection 21 Actual annual rental on storage unit Assumption 21 increased 3% annually for 10 year projection 22 Rental rate from MMDC proforma 2-11-98 applied to square footage with 5% vacancy 23 Rental rate from MMDC proforma 2-11-98 applied to square footage with 5% vacancy Assumptions 22 - 23 space rent and property taxes increased 3% annually major maintenance reserve and condo office maintenance increased 4% annually for 10 year projection 24 Assumption 24 increased 4% annually for 10 year projection 25 Calculation from CH2 Land Lease Estimate prepared by R Curtis 1-28-98 Ch2 ProForma 3/25/98