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<br />October 20, 1994 <br /> <br />Mike <br /> <br />You had asked about the value of the land at the water tower site <br />and with Doug Strong's help, I have calculated the current land <br />values in that area. <br /> <br />Parcel 05~29-23-41-0010 NTC 35,489 Sq. Ft. 291,103 <br />NTC per Sq. Ft .1219 * 1.32 = 1.61 Per year taxes <br /> <br />Parcel 05-29-23~41~0011 NTC 22,366 Sq. Ft. 187218 <br />NTC per Sq. Ft. .1194 * 1.32 = 1.57 per year taxes <br /> <br />Proposed Area <br /> <br />20 X 40 = 800 <br /> <br />690/800=.86*12= $10.35 per year <br /> <br />As you can see the proposed rent appears to be well above the <br />current market for prime development land taxes. <br /> <br />Hope this helps in our discussion. <br /> <br />~ <br /> <br />Ed Burrell <br />