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<br />- <br /> \1../~/q~ <br /> Term Sheet <br />Sunrise New Development\Rehab Gym <br /> Use Source Gap <br />Acquisition (Costs) (Sunrise/Gym) <br />Parcel 1 $ 1,200,000 $ 1,200,000 $ <br />Parcel 2 $ 545,000 $ 545,000 $ <br />Demolition Parcel 1 $ 60,000 $ $ (~ <br />Soil Corrections Parcel 1 $ 40,000 $ $ (~) <br />Parking & Road Improvements $ 50,000 $ $ (50,OOO)o"\-e. '~OIW'D <br /> $ <br />Rehab Parcel 2 $ 150,000 $ 50,000 $ (100,000) ~ ~ <br />Total $ 1,895,000 $ 1,745,000 $ (250,000) <br />Assistance to Fill Gap: <br />City Infrastructure Improvements $ 150,000 <br />(new roadway/additional parking for Rosebrook Park) <br />(City to assess Parcel 1 portion back to Sunrise over 15 years) <br /> <br />Sunrise provide funding to Gym for exterior improvements <br /> <br />$ 100,000 <br /> <br />Total <br />Summary of Taxes: <br /> Annual Taxes <br />Existing $45,000 <br />New $ 180,000 <br />o iff $ 135,000 <br />City Portion (15%) $ 20,250 <br /> <br />$ 250,000 <br /> <br />Private/Public Investment Ratio 50 to 1 Public Investment Recaputured in <br />1-2 years based upon new taxes <br />Q:\planning files\3159_Sunrise Senior Living (James Addition)\Sources& Uses senior - gym <br />