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<br />,II <br />. J <br />I'.' <br /> <br />, I' <br />I <br />'! <br /> <br />SCHEDULE 1 TO EXHIBIT A <br /> <br />ESTIMATED MARKET VALUE INCREASE FOR A REDEVELOPMENT <br />PROJECT WITHOUT TAX INCREMENT ASSISTANCE <br /> <br />construction of a three story, 60,000 square foot office <br />building on the 4 southern parcels (previously known as <br />the "bowling alley" and "Keys") <br /> <br />Estimated Fair Market Value of Redeveloped Parcels <br />and Parcels Not Redeveloped <br />Less: Original Market Value <br />Increased Market Value <br /> <br />$10,808,300 <br />$ 6,967.000 <br />$ 3,841,300 <br /> <br />ESTIMATED MARKET VALUE INCREASE FOR A REDEVELOPMENT <br />PROJECT WITH TAX INCREMENT ASSISTANCE <br /> <br />construction of 132 condominiums with an average <br />market value of $180,000, 168 loft units with an average <br />market value of $185,000, and 80 senior rental units with <br />an average market value of $90,000 on the entire 11 parcel site <br /> <br />Estimated Fair Market Value of Redeveloped Parcels <br />Less: Original Market Value <br />I ncreased Market Value <br />Less: Present Value of the Tax Increment Generated <br />5.5% over the term of the Proposed District <br />See Attached Exhibit 1) <br />Net Increased Market Value <br /> <br />$62,040,000 <br />$ 6.967,000 <br />$55,073,000 <br />,$10.028,082 <br /> <br />$45,044,918 <br /> <br />G:\WPDATA\N\NW QUAD\D9\TIF\COUNCIL RESOLUTION.DOC <br /> <br />9 <br />