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<br /> Term Sheet <br /> Sunrise Development (James Addition) <br /> Use Source Gap <br />Acquisition (Costs) (Developer) <br />Parcel 1 $ 1,300,000 $ 1,175,000 $ 125,000 <br />Parcel 2 $ 545,000 $ 250,000 $ 295,000 <br />Demolition $ 60,000 $ $ 60,000 <br /> <br />Soil Corrections <br /> <br />$ <br /> <br />40,000 <br /> <br />$ <br /> <br />$ <br /> <br />40,000 <br /> <br />Parking & Road Improvements <br /> <br />$ <br /> <br />500000 <br /> <br />$ <br /> <br />$ <br /> <br />50,000 <br /> <br />Total <br /> <br />$ 1,995,000 <br /> <br />$ 1,425,000 <br /> <br />$ 570,000 <br /> <br />Assistance to Fill Gap: <br /> <br />City Infrastructure - Grant <br /> <br />$ 100,000 <br />$ 250,000 <br />$ 220,000 <br />$ 570,000 <br /> <br />County Loan - Parcel 2 acquisition <br /> <br />City Loan - Fill Gap <br /> <br />Total <br /> <br />Summary of Taxes: <br /> <br />Existing <br /> <br />Annual Taxes <br />$45,000 <br /> <br />New <br /> <br />$208,000 - $245,000 <br /> <br />Diff <br /> <br />$163,000 - $200,000 <br /> <br />City Portion (15%) <br /> <br />$24,000 - $30,000 <br /> <br />Private/Public Investment Ratio 20 to 1 <br /> <br />Public Investment Recaputured in <br />3-5 years based upon new taxes <br /> <br />Q:\planning files\3159_Sunrise Senior Living (James Addition}\Sources& Uses <br />