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<br />r <br /> <br />HOUSING <br /> <br />AMOUNT OF LAND IN ACRES AND SQUARE FEET: 4.1 ACRES OR 178,596 SQ. FT. <br /> <br />15 UNITS/PER ACRE <br /> <br />AT A COST OF $7.00 PER FT. = $1,250,172 <br /> <br />15 Units per acre: Developer will pay $1.50 per sq. ft. = $267,894 <br /> <br />SUBSIDY NEEDED: $982,278 <br /> <br />62 TOTAL UNITS AT $40,000 = $2,480,000 X .034 ~ 84,320 <br />EXISTING ~ 42.000 <br />TAXES ~ 42,320 <br /> <br />PAYOUT IS $42.320 AT 8% INTEREST OUTCOME: CAN NOT MEET PAYOUT <br /> <br />********************************************************************* <br /> <br />AMOUNT OF LAND IN ACRES AND ~QUARE FEET: 4.1 ACRES OR 178,596 SQ. FT. <br /> <br />25 UNITS/PER ACRE <br /> <br />AT A COST OF $7.00 PER FT. ~ $1,250,172 <br /> <br />25 Units per acre: Developer will pay $2.00 per sq. ft. ~ $357,192 <br /> <br />SUBSIDY NEEDED: $892,980 <br /> <br />103 TOTAL UNITS AT $60,000 ~ <br /> <br />$6,180,000 X .034 = <br />EXISTING ~ <br />TAXES ~ <br /> <br />210,120 <br />43.000 <br />167,120 <br /> <br />. <br /> <br />PAYOUT IS 7.25 YEARS <br /> <br />OUTCOME: CAN MEET PAYOUT <br /> <br />********************************************************************** <br /> <br />AMOUNT OF LAND IN ACRES AND SQUARE FEET: 4.1 ACRES OR 178,596 SQ. FT. <br /> <br />20 UNITS/PER ACRE <br /> <br />AT A COST OF $7.00 PER FT. ~ $1,250,172 <br /> <br />20 units per acre: Developer will pay $1.75 per sq. ft. ~ $312,543 <br /> <br />SUBSIDY NEEDED: $937,629 <br /> <br />82 TOTAL UNITS AT $50,000 ~ $4,100,000 X .034 ~ 139,400 <br />EXISTING ~ 43.000 <br />TAXES ~ 95,320 <br /> <br />I <br /> <br />PAYOUT IS 20.25 YEARS <br /> <br />OUTCOME: TECHNICALLY POSSIBLE, HOVEVER, NOT IN <br />ROSEVILLE'S TIME FRAME POLICY <br /> <br />***************************************************************t!***** <br /> <br />R-0002617 <br /> <br />... <br />