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<br />SCHEDULE 1 TO EXHIBIT A <br />TO RESOLUTION NO. <br /> <br />REDEVELOPMENT WITHOUT TAX INCREMENT ASSISTANCE <br /> <br />The Super America and Dairy Queen expansion can not occur without City <br />intervention and assistance. The Rice Creek shopping center would probably <br />be improved and its value could double from $850,000 to $1,700,000. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br /> <br />5,544,500 <br />4,694,500 <br />850,000 <br /> <br />REDEVELOPMENT WITH TAX INCREMENT ASSISTANCE <br /> <br />Construction of approximately 97 units of market rate senior housing; renovation <br />of approximately 20,000 square feet of retail space; construction of an additional <br />35,000 square feet of retail space; relocation and expansion of the existing Super <br />America and Dairy Queen. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br /> <br />10,441,600 <br />4,694,500 <br />5,747,100 <br /> <br />Less: Present Value of the Tax Increment Generated <br />@ 7.50%, 25 tax increment years (see attached Exhibit 1) <br /> <br />2,431,638 <br /> <br />Net Increased Market Value <br /> <br />3,315,462 <br />