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<br />SCHEDULE 1 TO EXHIBIT A <br />TO RESOLUTION NO. <br /> <br />REDEVELOPMENT WITHOUT TAX INCREMENT ASSISTANCE <br /> <br />This site has a non-conforming use and existing structure can not be expanded. <br />An existing power line easement presents further construction. The only <br />increase in market value would result from inflation. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br /> <br />190,000 <br />~90,q~ <br />o <br /> <br />REDEVELOPMENT WITH TAX INCREMENT ASSISTANCE <br /> <br />The site would be redeveloped to include a 3,200 square foot convenience store <br />with an estimated market value of $255,500, a 1,200 square foot coffee shop with <br />an estimated market value of $55,200 and a 12,000 square foot two~story office <br />building with an estimated market value of $696,000. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br /> <br />1,006,400 <br />190,000 <br />816,400 <br /> <br />Less: Present Value of the Tax Increment Generated <br />@ 7.50%, 25 tax increment years (see attached Exhibit 1) <br /> <br />480,216 <br /> <br />Net Increased Market Value <br /> <br />336,184 <br />