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<br />SCHEDULE 1 TO EXHIBIT A <br />TO RESOLUTION NO. 99-056 <br /> <br />REDEVELOPMENT WITHOUT TAX INCREMENT ASSISTANCE <br /> <br />Due to the irregplar shape of the property, which could only be developed <br />in connection with adjacent property previously acquired by the City, and <br />the unusual topography of the property, it is unlikely that any development <br />would occur without TIF assistance. If the City had not intervened, <br />construction of multi-purpose manufacturing/office/warehouse facilities <br />would not have occurred. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br /> <br />$ 174,614 <br />$ 174,614 <br />$ -0- <br /> <br />REDEVELOPMENT WITH TAX INCREMENT ASSISTANCE <br /> <br />Construction of approximately 49,600 square feet of multi-purpose <br />manufacturing! office/warehouse facilities. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br />Less: Present Value of the Tax Increment Generated <br />@ 7.5%, 25 tax increment years <br />(See Attached Exhibit 1) <br />Net Increased Market Value <br /> <br />$ 1,860,000 <br />$ 174,614 <br />$ 1,685,386 <br />$ 797,884 <br /> <br />$ 887,502 <br /> <br />G,\W~DATA\N\NBW BRIGHTON\29\TIF\COUNCIL RESOLUTION.DOC <br /> <br />6 <br />