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<br />--.-------- <br /> <br />Summary of Veritas Development <br /> <br /> Current Proposed <br />SF 60000 240000 <br />Jobs 200 650 <br />Est. payroll $15 m $48 m <br />Bldg Assessed Value $5.2 m $15 m <br />Est.Value (with finishes) $120 per sf $150persf <br /> <br />Comparison of Centre Pointe and Lawson Software <br /> <br /> Centre Pointe Veritas Lawson <br />Current Building SF 280,715 62,000 350,000 <br />New SF <br />- Approved SF 145,397 <br />- -Expansion 115,000 <br /> . <br />Current Est Employees 3,500 200 800-1000 <br />New Est Emp. 400 <br />- Approved 400 <br />- Expansion 600 <br />Estimate Payroll $70 m annual <br />TIF $7.8 m 14 m* <br />Construction Value $75 /sf $150+ per SF $53 m Bldg <br /> $21 m $36 m $22 m Parking <br />Taxes $250,000 orig <br /> $1.9 m new <br /> <br />By comparison: <br /> <br />-. The City of St Paul purchased the entire block for Lawson Software Building at a cost of <br />$14 million which included 13 properties, 34 businesses, relocation & demolition. The <br />developer paid for 1/3 of that cost. The City also constructed a municipal parking garage <br />with 1,000 spaces. Lawson is obligated to make $5.50 per SF in lease payments for IS <br />years and it is considered a bondable lease. The developer will cover the lease payments <br />if Lawson is in default. <br /> <br />. Roseville provided Centre Pointe with $5 million pay-as-you-go TIF and a $2.4 million <br />loan to Ryan with $381,000 in contamination clean up funds. <br /> <br />.. <br />Q:\Special Projects\Centre Pointe\Centre Pointe - Lawson.doc <br />