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<br /> SEP 28 '98 11:18AM EHLERS & ASSOCIATES <br /> V9 P,2/10 <br /> ~~rr 6 ~J <br /> . -if <br /> EHLERS <br /> . <br /> & ASSOCIATES IN C <br /> September 28, 1998 <br /> TO: Terry Post, City of Arden Hills <br /> FR: Mark Ruff <br /> RE: Office Development <br /> A[tached are two estimates for tax increment and debt service for the redevelopment of the 1-35W and 1- <br /> 694 intersection. The estimates, given the attached assumptions, require 390,000 s.f. of office <br /> development to pay for .$5,000,000 of project costs. The $11,300,000 project cost would require 870,000 <br /> s.c. of office development. <br /> Please note that I have been conservative on both taxes per s.f. ($3.50) and imerest rate (8%). Please <br /> review the attached runs and call with any changes. <br /> . <br /> t t.:;ua.1 Opllutllll\it'l (rnpln:/-:f <br /> ! <br /> . lEA 0 E R S I N PUB L I C FINANCE ! <br /> ! Chilrt~r Me'lllar 01 th~ ~htio",~1 A~~1<i~i~1101) <br /> ul Itldependen! I'Clbllc Fin3n~! Adyj,aff <br /> i <br /> ---... ......--... . ..---,.. ..,.-. -.... ___'4 . "J <br /> 3060 Centle PointQ Drive. Rose~jl1e, MN 55113.1103 651.697.8500 fail( 651,697.8555 WWW ,ehler~.in( .eol'll <br /> -- <br />