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<br />2.4 Alternative #4 proposes 480 luxury apartment units in 2-7 story buildings with a <br />floor to area configuration not to exceed 30, Underground parking would be required, <br />Oakcrest would be reconstructed through the center of the site, Twenty-eight 2 story <br />town homes and 16 - 1 story senior townhomes would be added adjacent to the <br />existing homes on Fry. The project would add approximately $57,700,000 in new value <br />to the site. The average value of the apartment unit would be more than $110,000, <br />including land. Over a ten year period slightly more than $9,7 million in net new <br />available TIF taxes would be generated. <br /> <br />M:\JAMESADD\JAMES1,SNO <br /> <br />6 <br />