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Mr. C. Waldron <br />2/8/89 Page 2 <br />4. What is the meaning of the Revenue for the <br />townhouse portion (student residences)? <br />We have planned phase I of the townhouses to accommodate 88 <br />students as residents. The revenue dollars per bed of $3,000 <br />represents the price that a student will be charged per year to <br />reside on campus. The $264,000 is the total revenue we will <br />receive if all the spaces are sold. As a point of reference, the <br />revenue per student for this year was $2,700; I projected the <br />revenue per bed forward to give you a revenue figure that fairly <br />represents what I expect to happen. <br />5. What is the rent and operating expense we are <br />paying in our present school facility? <br />For our last operating year, Fiscal 1988, our rent, operating <br />expenses and parking totaled $280,315. <br />6. What are the current market rates for similar <br />commercial space in the market? <br />For your review, I have enclosed the November 1988 survey for the <br />Roseville area as published in "Commercial Space". <br />I trust that this information will clarify the package that Sid <br />sent you and provide the information you need. I would however, <br />suggest that we arrange a meeting to discuss these or any other <br />issues in the detail that you require. A meeting would also afford <br />me the opportunity to explain the concepts and methodology. <br />I can be available to meet Tuesday through Friday next week at <br />your convenience. <br />Sincerely, <br />A. Christopher Seigle <br />Project Manager/Real Estate <br />cc: S. Inman <br />File <br />enclosure: Commercial Space survey <br />Deliver: Federal Express <br />