3_Northfield Project Reference Document_Cost Estimates

Business & Industrial Park Master Plan

Cost Estimates :

South Site - Plan B

LF Streets Summary Roadway Cost per Lineal Foot

5,000 Collector B (100' ROW) 3,035,000.00$ $607.003,700 Local A (70' ROW) 2,368,000.00$ $640.006,000 Local B (70' ROW) 2,766,000.00$ $461.00

Subtotal 8,169,000.00$ Contingency (10%) 1,225,350.00$

25% - Legal, Engineering, Administration 2,042,250.00$ Total Estimated Public Improvement Costs (2010) 11,436,600.00$

Estimate Does Not Include the Following:Small utilities (gas, telephone, electric, broadban communications, etc)Greywater Collections or Distribution System (piping, treatment, etc)Stormwater PondingIrrigation within Right of WayGrading beyond roadway right of wayWetland Construction

Opinion of Probable Street Improvement Costs

South Site - Plan BTotal LF @ Centerline 5,000

Description (Collector B Street) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 34,600 415,200$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 11,600 208,800$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 4,000 280,000$ B1224 Curb and Gutter LF 24.00$ 10,000 240,000$ B618 Curb and Gutter LF 12.00$ 10,000 120,000$ Bituminous Tack Coat GAL 2.00$ 1,300 2,600$ Common Excavation CY 3.00$ 41,200 123,600$

Road Striping and Signage4" Solid White Stripe LF 1.00$ 20,000 20,000$

Watermain ImprovementsHydrant w/Gate Valve & Box @ ~500' Spacing EA 4,000.00$ 10 40,000$ 8" DIP Watermain LF 34.00$ 5,000 170,000$

Sanitary Sewer ImprovementsSanitary Sewer Manhole (48" Diameter w/Casting) @ ~400' Spacing EA 3,500.00$ 13 45,500$ 8" PVC Sanitary Sewer LF 22.00$ 5,000 110,000$

Storm Sewer ImprovementsStorm Sewer Manhole (48" Diameter w/Casting) @ ~400' Spacing EA 3,500.00$ 13 45,500$ Storm Sewer Catch Basin (2' x 3') @ ~400' Spacing EA 1,500.00$ 13 19,500$ 24" RCP Storm Sewer LF 46.00$ 5,000 230,000$

Subtotal A 2,070,700$

Trails & Sidewalk10' Wide Concrete Sidewalk (4" Thick) SF 5.00$ 100,000 500,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 1,400 25,200$

Subtotal B 525,200$

Lighting & SignageStreet Lighting @ ~400' Spacing EA 7,000.00$ 13 91,000$

Subtotal C 91,000$

LandscapingSeed (native) with topsoil SY 2.50$ 18,600 46,500$ Tree (shade, 2.5" caliper) EA 450.00$ 350 157,500$

Subtotal D 204,000$

Subtotal 2,890,900$ Mobilization 5% 144,545$ Subtotal w/ Mobilization 3,035,445$

Estimated Cost Per Lineal Foot (2010) $607.00

Roadway

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Description (Local Street A) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 23,600 283,200$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 7,900 142,200$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 2,200 154,000$ Concrete Hardened Edge LF 10.00$ 7,400 74,000$ 8' Wide Pervious Pavers SF 8.00$ 59,200 473,600$ Bituminous Tack Coat GAL 2.00$ 1,500 3,000$ Common Excavation CY 3.00$ 42,100 126,300$

Road Striping and Signage4" Double Yellow Stripe LF 2.00$ 3,700 7,400$






Subtotal B 247,200$

Lighting & SignageStreet Lighting @ ~400' Spacing EA 7,000.00$ 9 63,000$ Pedestrian Lighting @ 200' Spacing EA 5,000.00$ 18 90,000$

Subtotal C 153,000$


Subtotal D 110,938$



Roadway




Description (Local B Street) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-35' Wide B-to-B Roadways) TON 12.00$ 32,400 388,800$ 8" Class 5 Aggregate Base (2-35' Wide B-to-B Roadways) TON 18.00$ 10,800 194,400$ 4" Bituminous Pavement (2-30' Wide Roadways) TON 70.00$ 4,500 315,000$ B618 Curb & Gutter LF 12.00$ 12,000 144,000$ Bituminous Tack Coat GAL 2.00$ 1,500 3,000$ Common Excavation CY 3.00$ 42,100 126,300$






Trails & Sidewalk10' Wide Bituminous Trail (2" Thick) TON 70.00$ 1,500 105,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 3,400 61,200$

6' Wide Concrete Sidewalk (4" Thick) SF 5.00$ 36,000 180,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 2,300 41,400$

Subtotal B 387,600$


Subtotal C 105,000$

LandscapingSeed (native) with topsoil SY 2.50$ 13,300 33,250$ Trees (shade, 2.5"caliper) EA 450.00$ 300 135,000$

Subtotal D 168,250$



Roadway


Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 5,000 25 2.00 500,000 138 34,500Class 5 5,000 25 0.67 166,667 138 11,500Bit 5,000 16 0.33 53,333 146 3,893wide curb & gutter 10,000curb & gutter 10,000tack coat 5,000 16 0.05 8,000 1,284excavation 5,000 37 3.00 1,110,000 41,111walk conc 5,000 10 0.33 33,333walk base 5,000 12 0.333333 40,000 138 2,760

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 3,700 46 2.00 340,400 138 23,488Class 5 3,700 46 0.67 113,467 138 7,829Bit 3,700 24 0.33 29,600 146 2,161hardened edge 7,400tack coat 3,700 24 0.05 4,440 713excavation 3,700 62 3.00 688,200 25,489walk conc 3,700 6 0.33 14,800walk base 3,700 8 0.333333 19,733 138 1,362

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 6,000 39 2.00 468,000 138 32,292Class 5 6,000 39 0.67 156,000 138 10,764Bit 6,000 30 0.33 60,000 146 4,380curb & gutter 12,000tack coat 6,000 30 0.05 9,000 1,445excavation 6,000 63 3.00 1,134,000 42,000trail bit 6,000 10 0.17 20,000 146 1,460trail base 6,000 12 0.333333 48,000 138 3,312walk conc 6,000 6 0.33 24,000walk base 6,000 8 0.333333 32,000 138 2,208

Local B Street

Collector B Street

Local A Street

South Site - Concept A


5,200 Collector B (100' ROW) 3,153,118.50$ $606.374,000 Local A (70' ROW) 2,521,083.60$ $630.27

Subtotal 5,674,202.10$ Contingency (10%) 851,130.32$




South Site - Concept ATotal LF @ Centerline 5,200


Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 35,880 430,560$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 11,960 215,280$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 4,049 283,430$ B1224 Curb and Gutter LF 24.00$ 10,400 249,600$ B618 Curb and Gutter LF 12.00$ 10,400 124,800$ Bituminous Tack Coat GAL 2.00$ 1,336 2,672$ Common Excavation CY 3.00$ 42,756 128,268$







Subtotal B 571,660$


Subtotal C 91,000$


Subtotal D 204,000$



Roadway

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South Site - Concept ATotal LF @ Centerline 4,000

Description (Local Street A) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 25,392 304,704$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 8,464 152,352$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 2,336 163,520$ Concrete Hardened Edge LF 10.00$ 8,000 80,000$ 8' Wide Pervious Pavers SF 8.00$ 64,000 512,000$ Bituminous Tack Coat GAL 2.00$ 771 1,542$ Common Excavation CY 3.00$ 27,556 82,668$







Subtotal B 266,496$


Subtotal C 170,000$


Subtotal D 134,750$



Roadway

5/21/2010 3M:\Northfield\009-PRO#-Northfield 3rd. Business Industrial Park\12 Cost Estimates\South Site Infrastructure Cost.Concept A

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 5,200 25 2.00 520,000 138 35,880Class 5 5,200 25 0.67 173,333 138 11,960Bit 5,200 16 0.33 55,467 146 4,049wide curb & gutter 10,400curb & gutter 10,400tack coat 5,200 16 0.05 8,320 1,336excavation 5,200 37 3.00 1,154,400 42,756walk conc 5,200 10 0.33 34,667walk base 5,200 12 0.333333 41,600 138 2,870

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 4,000 46 2.00 368,000 138 25,392Class 5 4,000 46 0.67 122,667 138 8,464Bit 4,000 24 0.33 32,000 146 2,336hardened edge 8,000tack coat 4,000 24 0.05 4,800 771excavation 4,000 62 3.00 744,000 27,556walk conc 4,000 6 0.33 16,000walk base 4,000 8 0.333333 21,333 138 1,472

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 0 39 2.00 0 138 0Class 5 0 39 0.67 0 138 0Bit 0 30 0.33 0 146 0curb & gutter 0tack coat 0 30 0.05 0 0excavation 0 63 3.00 0 0trail bit 0 10 0.17 0 146 0trail base 0 12 0.333333 0 138 0walk conc 0 6 0.33 0walk base 0 8 0.333333 0 138 0

Local B Street

Collector B Street

Local A Street

Business & Industrial Park Master Plan Hoisington Koegler Group Inc. - Design Workshop - Northland Securities - EcoDEEP - MSA Professional Services - ProLogis

Phasing DiagramNORTH SITE PHASE 1

August 2nd, 2010

Civic

Light Industrial/Industrial

Offi ce/Institutional

Retail

Mixed-Use

High Density Housing

Medium Density Housing

Parking/Streets

Open Space

LEGEND

NORTH AVENUE

DEC

KER

AVE

NU

E

320TH STREET

STATE HWY 19

COU

NTY

RO

AD 2

3



August 2nd, 2010

Civic



Retail

Mixed-Use



Parking/Streets

Open Space

LEGEND

NORTH AVENUE

DEC

KER

AVE

NU

E

320TH STREET

STATE HWY 19

COU

NTY

RO

AD 2

3


Phasing DiagramSOUTH SITE PHASE 1

August 2nd, 2010

LEGENDCivic

Commercial.Retail



Parking/Right-of-Way

Open Space

Cannon River

DEC

KER

AVEN

UE

100TH STREET EAST

Ca

ARMSTRONG ROAD

STATE HWY 1990TH STREET EAST



August 2nd, 2010

LEGENDCivic

Commercial.Retail




Open Space

Cannon River

DEC

KER

AVEN

UE

100TH STREET EAST

Ca

ARMSTRONG ROAD


Northfield Business and Industrial Park - North Site (Phase 1)Estimated Taxable Property Values

9/8/2010Building Estimated Market Value Tax Capacity Value

Land Use Program Units ($/SF) Total Rate TotalLight Industrial/Industrial 653,400 sf 45 29,403,000.00$ 2% 588,060.00$ Office/Institutional 708,000 sf 100 70,800,000.00$ 2% 1,416,000.00$ Retail 72,000 sf 100 7,200,000.00$ 2% 144,000.00$ Mixed Use

retail 15,000 sf 100 1,500,000.00$ 2% 30,000.00$ office 100,000 sf 100 10,000,000.00$ 2% 200,000.00$ residential 200 units 150,000 30,000,000.00$ 1% 300,000.00$

Hotel Accomodations 120 rooms 40,000 4,800,000.00$ 2% 96,000.00$ Civic sf NAHigh Density Housing 120 units 150,000 18,000,000.00$ 1% 180,000.00$ Medium Density Housing 250 units 225,000 56,250,000.00$ 1% 562,500.00$ Open Space NARight of Way NA

Total 227,953,000.00$ 3,516,560.00$



Land Use Program Units ($/SF) Total Rate TotalLight Industrial/Industrial sf 45 -$ 2% -$ Office/Institutional 81,675 sf 100 8,167,500.00$ 2% 163,350.00$ Retail sf 100 -$ 2% -$ Mixed Use

retail sf 100 -$ 2% -$ office sf 100 -$ 2% -$ residential units 150,000 -$ 1% -$

Hotel Accomodations rooms 40,000 -$ 2% -$ Civic 110,000 sf NAHigh Density Housing units 150,000 -$ 1% -$ Medium Density Housing units 225,000 -$ 1% -$ Open Space NARight of Way NA

Total 8,167,500.00$ 163,350.00$



Land Use Program Units ($/SF) Total Rate TotalLight Industrial/Industrial 495,000 sf 45 22,275,000.00$ 2% 445,500.00$ Office/Institutional 403,000 sf 100 40,300,000.00$ 2% 806,000.00$ Retail sf 100 -$ 2% -$ Mixed Use


Hotel Accomodations rooms 40,000 -$ 2% -$ Civic sf NAHigh Density Housing units 150,000 -$ 1% -$ Medium Density Housing units 225,000 -$ 1% -$ Open Space NARight of Way NA

Total 62,575,000.00$ 1,251,500.00$



Land Use Program Units ($/SF) Total Rate TotalLight Industrial/Industrial 762,000 sf 45 34,290,000.00$ 2% 685,800.00$ Office/Institutional sf 100 -$ 2% -$ Retail sf 100 -$ 2% -$ Mixed Use


Hotel Accomodations rooms 40,000 -$ 2% -$ Civic sf NAHigh Density Housing units 150,000 -$ 1% -$ Medium Density Housing units 225,000 -$ 1% -$ Open Space NARight of Way NA

Total 34,290,000.00$ 685,800.00$

Phase One (estimated costs, developables lands and timetable) 8.19.10

Item Quantity Unit Unit Cost Cost

Roadway and Utility CostsArterial (CR 23) 4,000 LF 649.00$ 2,596,000.00$ Collector (Type A) 2,000 LF 629.00$ 1,258,000.00$ Collector (Type B) 7,000 LF 615.00$ 4,305,000.00$ Utilities in North Ave. (per current city cost info) LS 730,000.00$ Additional Utilities in North Ave. LS 250,000.00$ Roundabout at Hwy 19 and CR 23 LS 1,000,000.00$ Land Acquisition for Roundabout LS 250,000.00$ Stormwater management (ponds/infiltration) LS 500,000.00$ Water tower LS 2,000,000.00$ Grading (associated with access for development) LS 1,000,000.00$

Total Cost (Phase One) 13,889,000.00$ Developable Acres (Phase One) 168.5 acresDevelopment Timeframe (Phase One) 15 - 20 years

Breakdown of Phase One Estimated Costs into Subphases (with options) 9.8.10Note: Phase 1B(2) includes areas of the North Site not originally included within Phase One (see attached diagrams)

Quantity Unit Unit Cost Cost

Roadway and Utility CostsArterial (CR 23) 3,100 LF 649.00$ 2,011,900.00$ Asphalt Road 1650 LF 100.00$ 165,000.00$ Collector (Type A) 2,000 LF 629.00$ 1,258,000.00$ Collector (Type B) 2100 LF 615.00$ 1,291,500.00$ Utilities in North Ave. (per current city cost info) LS 730,000.00$ Additional Utilities in North Ave. LS 250,000.00$ Roundabout at Hwy 19 and CR 23 1 LS 1,000,000.00$ 1,000,000.00$ Land Acquisition for Roundabout 1 LS 250,000.00$ 250,000.00$ Stormwater management (ponds/infiltration) LS 500,000.00$ Water tower (5.5%) LS 110,000.00$ Grading (associated with access for development) LS 400,000.00$

Total Cost 7,966,400.00$ Developable Acres 75Development Timeframe 6‐8 yearsEstimated Taxable Valuation 76,446,118$ Estimated Jobs Created 885

Phas

e I ‐ A

Roadway and Utility CostsArterial (CR 23) 900 LF 649.00$ 584,100.00$ Collector (Type A) 0 LF 629.00$ ‐$ Collector (Type B) 1500 LF 615.00$ 922,500.00$ Utilities in North Ave. (per current city cost info) LSAdditional Utilities in North Ave. LSRoundabout at Hwy 19 and CR 23 LSLand Acquisition for Roundabout LSStormwater management (ponds/infiltration) LS 100,000.00$ Water tower (1.6%) LS 32,000.00$ Grading (associated with access for development) LS 300,000.00$

Total Cost 1,938,600.00$ Developable Acres 38.00 Development Timeframe 3‐4 yearsEstimated Taxable Valuation 18,606,865$ Estimated Jobs Created 345

Roadway and Utility CostsCollector (Type A) 300 LF 629.00$ 188,700.00$ Collector (Type B) 3500 LF 615.00$ 2,152,500.00$ Local (Type B) 2500 LF 495.00$ 1,237,500.00$ Utilities in North Ave. (per current city cost info) LSAdditional Utilities in North Ave. LSRoundabout at Hwy 19 and CR 23 LSLand Acquisition for Roundabout LSStormwater management (ponds/infiltration) LS 500,000.00$ Water tower (5%) LS 100,000.00$ Grading (associated with access for development) LS 400,000.00$

Total Cost 4,578,700.00$ Developable Acres 82.50 Development Timeframe 6‐8 yearsEstimated Taxable Valuation 62,559,005$ Estimated Jobs Created 1,420

Roadway and Utility CostsArterial (CR 23) LF 649.00$ Collector (Type A) LF 629.00$ Collector (Type B) 3500 LF 615.00$ 2,152,500.00$ Utilities in North Ave. (per current city cost info) LSAdditional Utilities in North Ave. LSRoundabout at Hwy 19 and CR 23 LSLand Acquisition for Roundabout LSStormwater management (ponds/infiltration) LS 200,000.00$ Water tower (5.2%) LS 104,000.00$ Grading (associated with access for development) LS 200,000.00$

Total Cost 2,656,500.00$ Developable Acres 55.25Development Timeframe 5‐7 yearsEstimated Taxable Valuation 95,663,287$ Estimated Jobs Created 1,150

Phas

e I ‐ C (S

t. O

laf)

Phas

e I ‐ B

(1)

Phas

e I ‐ B

(2)

Northfield Village Center Plan (South Site)20 Year Concept Snapshot Model7/5/2010

Total Net Sellable Land 220 Acres Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20Assumed Net Acres Per Year Sold 8 Acres 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8

Total Number of Years for Build‐Out 27.50 Average Improved Land Sales Price 175,000$ /Acre ‐$ 1,428,000$ 1,456,560$ 1,485,691$ 1,515,405$ 1,545,713$ 1,576,627$ 1,608,160$ 1,640,323$ 1,673,130$ 1,706,592$ 1,740,724$ 1,775,539$ 1,847,270$ 1,847,270$ 1,884,216$ 1,921,900$ 1,960,338$ 1,999,545$ 2,039,536$ Annual Land Sales Price Escalation 2.00%

Raw Land Purchase Price 20,000$ /Acre (327,273)$ (333,818)$ (340,495)$ (347,304)$ (354,251)$ (361,336)$ (368,562)$ (375,933)$ (383,452)$ (391,121)$ (398,944)$ (406,923)$ (415,061)$ (423,362)$ (431,829)$ (440,466)$ (449,275)$ (458,261)$ (467,426)$ (476,775)$ Acres Per Year Purchased (Incl Open Space, ROW, etc.) 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36 16.36

Annual Land Purchase Price Escalation 2.00%

On‐Site Improvement Costs Initial Est.Mass Rough Grading/SWM 3,250,000 (580,357) (640,761) (707,452) (781,084)

Wetland Mitigation 200,000 (35,714) (39,431) (43,536) (48,067) Sanitary Sewer Lift Station 250,000 (44,643) (49,289) (54,419) (60,083)

Fire Water Tank, Pumps & Pump House 450,000 (80,357) (88,721) (97,955) (108,150) Road Improvements Incl. Utilities 8,752,500 (1,562,946) (1,725,619) (1,905,223) (2,103,520)

Entry Monumentation 250,000 (44,643) (49,289) (54,419) (60,083) Improvements Paid by Public Agencies (500,000) 89,286 98,579 108,839 120,167

5.00% Construction Management Fee 657,625 (117,433) (129,656) (143,150) (158,049) 15.00% Contingency 1,972,875 (352,299) (388,967) (429,451) (474,148) 25.00% Soft Costs 3,288,125 (587,165) (648,278) (715,751) (790,247)

18,571,125$ On‐Site Improvement Annual Cost Escalation 2.00%

Off‐Site Improvement Costs Initial Est.Traffic Signals 750,000 (133,929) (147,868) (163,258) (180,250)

Sanitary Sewer Line Extension 212,500 (37,946) (41,896) (46,256) (51,071) Water Line Extension 187,500 (33,482) (36,967) (40,815) (45,063)

Gas Line Extension 125,000 (22,321) (24,645) (27,210) (30,042) Power Line Extension 375,000 (66,964) (73,934) (81,629) (90,125) Road Improvements 4,750,000 (848,214) (936,497) (1,033,968) (1,141,585)

Improvements Paid by Public Agencies (1,000,000) 178,571 197,157 217,678 240,334 5.00% Construction Management Fee 320,000 (57,143) (63,090) (69,657) (76,907)

15.00% Contingency 960,000 (171,429) (189,271) (208,970) (230,720) 25.00% Soft Costs 1,600,000 (285,714) (315,452) (348,284) (384,534)

8,280,000$ Off‐Site Improvement Annual Cost Escalation 2.00%

Net Income/(Loss) (327,273)$ (3,700,662)$ 1,116,065$ 1,138,387$ 1,161,154$ 1,184,378$ (4,085,830)$ 1,232,226$ 1,256,871$ 1,282,008$ 1,307,649$ (4,511,086)$ 1,360,478$ 1,423,908$ 1,415,441$ 1,443,750$ (4,980,604)$ 1,502,077$ 1,532,119$ 1,562,761$ Cumulative Net Income/(Loss) (327,273)$ (4,027,935)$ (2,911,869)$ (1,773,482)$ (612,328)$ 572,050$ (3,513,780)$ (2,281,554)$ (1,024,683)$ 257,326$ 1,564,974$ (2,946,112)$ (1,585,634)$ (161,726)$ 1,253,714$ 2,697,464$ (2,283,140)$ (781,062)$ 751,056$ 2,313,817$

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

IRR 5.99%

DiscountRate Net Present Value Sensitivities

10% NPV of Net Income Stream ($634,237)15% NPV of Net Income Stream ($1,017,600)20% NPV of Net Income Stream ($1,188,833)

Northfield Village Center Plan (North Site)20 Year Concept Snapshot Model7/5/2010

Land Sales Assumptions 355 Acres Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20Assumed Net Acres Per Year Sold 8.00 Acres 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00

Total Number of Years for Build‐Out 44.38 Average Improved Land Sales Price 205,000$ /Acre ‐$ 1,672,800$ 1,706,256$ 1,740,381$ 1,775,189$ 1,810,693$ 1,846,906$ 1,883,844$ 1,921,521$ 1,959,952$ 1,999,151$ 2,039,134$ 2,079,917$ 2,163,945$ 2,163,945$ 2,207,224$ 2,251,369$ 2,296,396$ 2,342,324$ 2,389,170$ Annual Land Sales Price Escalation 2.00%

Raw Land Purchase Price 20,000$ /Acre (238,873)$ (243,651)$ (248,524)$ (253,494)$ (258,564)$ (263,735)$ (269,010)$ (274,390)$ (279,878)$ (285,476)$ (291,185)$ (297,009)$ (302,949)$ (309,008)$ (315,188)$ (321,492)$ (327,922)$ (334,480)$ (341,170)$ (347,993)$ Acres Per Year Purchased (Incl Open Space, ROW, etc.) 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94 11.94

Annual Land Purchase Price Escalation 2.00%

On‐Site Improvement Costs Initial Est.Mass Rough Grading/SWM 3,750,000 (416,667) (460,034) (507,914) (560,778)

Wetland Mitigation 250,000 (27,778) (30,669) (33,861) (37,385) Sanitary Sewer Lift Station 250,000 (27,778) (30,669) (33,861) (37,385)

Fire Water Tank, Pumps & Pump House 450,000 (50,000) (55,204) (60,950) (67,293) Road Improvements Incl. Utilities 32,250,000 (3,583,333) (3,956,290) (4,368,063) (4,822,695)

Entry Monumentation 250,000 (27,778) (30,669) (33,861) (37,385) Improvements Paid by Public Agencies (500,000) 55,556 61,338 67,722 74,770

5.00% Construction Management Fee 1,860,000 (206,667) (228,177) (251,926) (278,146) 15.00% Contingency 5,580,000 (620,000) (684,530) (755,777) (834,438) 25.00% Soft Costs 9,300,000 (1,033,333) (1,140,883) (1,259,628) (1,390,731)

53,440,000$ On‐Site Improvement Annual Cost Escalation 2.00%

Off‐Site Improvement Costs Initial Est.Traffic Signals 500,000 (55,556) (61,338) (67,722) (74,770)

Sanitary Sewer Line Extension 212,500 (23,611) (26,069) (28,782) (31,777) Water Line Extension 187,500 (20,833) (23,002) (25,396) (28,039)

Gas Line Extension 125,000 (13,889) (15,334) (16,930) (18,693) Power Line Extension 375,000 (41,667) (46,003) (50,791) (56,078) Road Improvements 4,750,000 (527,778) (582,709) (643,358) (710,319)

Hwy 19 Improvement Contribution 2,000,000 (222,222) (245,351) (270,888) (299,082) Improvements Paid by Public Agencies (1,000,000) 111,111 122,676 135,444 149,541

5.00% Construction Management Fee 407,500 (45,278) (49,990) (55,193) (60,938) 15.00% Contingency 1,222,500 (135,833) (149,971) (165,580) (182,814) 25.00% Soft Costs 2,037,500 (226,389) (249,952) (275,967) (304,690)

10,817,500$ Off‐Site Improvement Annual Cost Escalation 2.00%

Net Income/(Loss) (238,873)$ (5,710,573)$ 1,457,732$ 1,486,887$ 1,516,625$ 1,546,957$ (6,304,934)$ 1,609,454$ 1,641,643$ 1,674,476$ 1,707,966$ (6,961,157)$ 1,776,968$ 1,854,937$ 1,848,757$ 1,885,732$ (7,685,679)$ 1,961,916$ 2,001,154$ 2,041,177$ Cumulative Net Income/(Loss) (238,873)$ (5,949,446)$ (4,491,714)$ (3,004,827)$ (1,488,202)$ 58,755$ (6,246,179)$ (4,636,725)$ (2,995,082)$ (1,320,605)$ 387,360$ (6,573,796)$ (4,796,829)$ (2,941,892)$ (1,093,134)$ 792,598$ (6,893,082)$ (4,931,166)$ (2,930,012)$ (888,835)$

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

IRR ‐1.74%

DiscountRate Net Present Value Sensitivities

10% NPV of Net Income Stream ($2,454,086)15% NPV of Net Income Stream ($2,502,483)20% NPV of Net Income Stream ($2,448,369)

MEMO

Date: July 6, 2010

From: Mike Russell

To: Jeff McMenimen

Subject: Northfield Business Park – CONCEPT 20 Year Snapshot IRR Models

Jeff,

In thinking about presentation of the concept IRR models, and because our to‐date estimates show long absorption schedules, it occurred to me that it might be best to look at producing models that have a reduced “snapshot” or window of time, say 20 years. While this work today is still more guesswork than science, it does provide a master developer’s perspective on how one analytic approach may be made to evaluate the shorter‐term financial feasibility of these types of complex, non‐core market projects.

Because the projects are still in the early planning stages and there are numerous unknowns, these models should not be accepted as gospel. There are cost items that can’t be identified at this time so costs will change, development sequencing will be dependent on who’s strategizing and directing the development, local and state jurisdiction requirements/participation, traffic impacts, etc.; we cannot even be sure of the purchase price of the raw land since in essence since there are no purchase and sale information/agreements in place. All we can do is provide our best guess for this type of analysis based on the information we have available at this time.

A Few Notes About the Excel Spreadsheets:

Highlighted Cells: All cells highlighted in yellow in the attached spreadsheets are variables that can be changed to develop different sensitivities.

Annual Escalations: Annual cost and price escalations (currently included at 2% per year) for purchasing raw land, selling developed land and all construction costs are included in the attached model calculations.

Land Acquisition & Development Assumptions: Since we are viewing this effort from 50,000 feet up, we have included the following land acquisition and development assumptions in the models:

o Land can be purchased from the land seller for only the estimated land absorbed (sold) each year, modified by dividing gross site acreage by the net sellable acres. For the North Site, the raw land purchase calculation is (530/355) times estimated net sellable acres in any given year; for the South site, the raw land purchase calculation is (450/220) times estimated net sellable acres in any given year.

o The model includes a straight line annual average absorption based on earlier developed guesstimates of future annual land absorption.

o For simplification, we have assumed that land development activities (and incurred land development costs) will occur every 5 years during the duration of the overall build‐out. Again, we have used a straight line method for these calculations, adjusted by the indicated annual escalation factors. We did not front‐load the land development costs. Also, if the Assumed Net Acres Per Year Sold variable is changed in the models, the land development amounts will change to reflect slower or faster absorption, albeit in 5 year increments. This will undoubtedly not be how this site is actually developed, but for now and for this test, this level of detail should suffice.

North Site:

For the North Site, we have included the following costs and assumptions:

On‐Site Costs: o Mass Grading/Storm Water Management: This is a budget we’ve typically

included in our modeling to evaluate the total site cost impact; this budget is our best guess at this time (without detailed grading studies) to prepare the development areas to an overlot graded condition. For this site, we have guesstimated that 1.5 million cubic yards of dirt will need to be balanced on site to attain overlot condition in developed site areas; open space disturbance is assumed to be minimal.

o Wetland Mitigation: Place holder cost of $250,000 in case mitigation is required at the site.

o Sanitary Sewer Lift Station: Place holder cost of $250,000 in case lift station is required at the site.

o Fire Water Tank, Pump and Pump House: $450,000 to cover 350,000 gallon fire water tank, pump and pump house if required at the site.

o Road & Utility Improvements: Road and utility improvements are based on the previously generated MSA Engineers’ budgets. For the attached models, all Arterial, Collector A, Collector B, Local A and Local B streets have been included; we have added cost to include street landscaping at both sides of the streets throughout this scheme. This scheme includes a total 50,050 lineal feet of street construction in the attached budget.

o Entry Signage & Monumentation: For now, an allowance of $250,000 has been included to cover main entry signage, monumentation and related adjacent landscaping.

o Improvements Paid by Public Agencies: This budget is a total guess, as we could use meaningful feedback on what participation may be available at the site.

o Construction Management Fee: Percentage fee based on hard construction costs (fee is currently shown at 5%, but can be changed if desired).

o Contingency: Percentage fee based on hard construction costs (fee is currently shown at 15%, but can be changed if desired).

o Soft Costs: This line item includes design, engineering, surveying, testing/inspection services, permits and other normal soft costs related to the land development activities (currently shown at 25%, but can be changed if desired).

Off‐Site Costs: o Traffic Signals: We have assumed two complete signalized intersections will be

required in our current model. o Sanitary Sewer Line Extension: We have assumed that 2,500 lineal feet of

sanitary sewer line will be needed to service the site. o Water Line Extension: We have assumed that 2,500 lineal feet of water line will

be needed to service the site o Gas Line Extension: We have assumed that 2,500 lineal feet of natural gas line

will be needed to service the site o Power Extension: We have assumed that 2,500 lineal feet of underground power

line will be needed to service the site. o Road Improvements: This early in a project and in our typical site analysis, we

assume that half‐street improvements will be required at all property lines

adjacent to current street ROW’s; we’ve interpolated pricing from MSA Engineer’s budgets, and we’ve included 6,400 lineal feet of half‐street improvements at the perimeter of the site in our budgets.

o Highway 19 Improvement Contribution: This budget is a total guess, as we could use meaningful feedback on what participation may be needed at the site.





South Site:

For the South Site, we have included the following costs and assumptions:

On‐Site Costs: o Mass Grading/Storm Water Management: This is a budget we’ve typically

included in our modeling to evaluate the total site cost impact; this budget is our best guess at this time (without detailed grading studies) to prepare the development areas to an overlot graded condition. For this site, we have guesstimated that 1.275 million cubic yards of dirt will need to be balanced on site to attain overlot condition in developed site areas; open space disturbance is assumed to be minimal.

o Wetland Mitigation: Place holder cost of $200,000 in case mitigation is required at the site.

o Sanitary Sewer Lift Station: Place holder cost of $250,000 in case lift station is required at the site.

o Fire Water Tank, Pump and Pump House: $450,000 to cover 350,000 gallon fire water tank, pump and pump house if required at the site.

o Road & Utility Improvements: Road and utility improvements are based on the previously generated MSA Engineers’ budgets. For the attached models, all Collector B, Local A and Local B streets have been included; we have added cost to include street landscaping at both sides of the streets throughout this scheme.

This scheme includes a total 14,700 lineal feet of street construction in the attached budget.

o Entry Signage & Monumentation: For now, an allowance of $250,000 has been included to cover main entry signage, monumentation and related adjacent landscaping.





Off‐Site Costs: o Traffic Signals: We have assumed three complete signalized intersections will be

required in our current model. o Sanitary Sewer Line Extension: We have assumed that 2,500 lineal feet of

sanitary sewer line will be needed to service the site. o Water Line Extension: We have assumed that 2,500 lineal feet of water line will

be needed to service the site o Gas Line Extension: We have assumed that 2,500 lineal feet of natural gas line

will be needed to service the site o Power Extension: We have assumed that 2,500 lineal feet of underground power

line will be needed to service the site. o Road Improvements: This early in a project and in our typical site analysis, we

assume that half‐street improvements will be required at all property lines adjacent to current street ROW’s; we’ve interpolated pricing from MSA Engineer’s budgets, and we’ve included 11,900 lineal feet of half‐street improvements at the perimeter of the site in our budgets.





Additional Notes/Observations:

In the North Site Model, we had to make the starting Improved Land Sales Price $205,000 per acre (likely higher pricing than realistic market?) so the model would even calculate an IRR. Costs for the North Site are much higher, based on the site carrying over 50,000 lineal feet of road construction in the attached models. The North Site Model shows negative IRR and NPV, so the model would indicate that this investment (under all the current costs and assumptions) is not viable, at least from a master developer’s viewpoint.

The South Site Model starting Improved Land Sales Price is currently plugged into the model at $175,500 per acre (more realistic pricing in the market?), which shows a less than marginal IRR and negative NPV, so the model would indicate that this investment (under all the current costs and assumptions) is not viable, at least from a master developer’s viewpoint.

Please note that changing any of the variables in these models will provide very different outcomes, and that these models can be updated and changed based on any varying array of assumptions/approaches.

North Site - Concept A


6,400 Arterial Street 4,139,692.20$ $646.8316,000 Collector B (100' ROW) 9,848,153.70$ $615.51





North Site - Concept ATotal LF @ Centerline 6,400

Description (Arterial Street) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-22' Wide B-to-B Roadways) TON 12.00$ 45,926 551,112$ 8" Class 5 Aggregate Base (2-22' Wide B-to-B Roadways) TON 18.00$ 19,136 344,448$ 4" Bituminous Pavement (2-18' Wide Roadways) TON 70.00$ 5,606 392,420$ B624 Curb and Gutter LF 25.00$ 25,600 640,000$ Bituminous Tack Coat GAL 2.00$ 1,849 3,698$ Common Excavation CY 3.00$ 56,889 170,667$

Road Striping and Signage4" Dashed White Stripe LF 0.50$ 12,800 6,400$





Trails & Sidewalk10' Wide Bituminous Trail (2" Thick) TON 70.00$ 1,557 108,990$ 4" Thick Class 5 Trail Base TON 18.00$ 3,553 63,954$

Subtotal B 172,944$


Subtotal C 112,000$


Subtotal D 368,875$



Roadway

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North Site - Concept ATotal LF @ Centerline 16,000


Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 110,400 1,324,800$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 36,800 662,400$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 12,459 872,130$ B1224 Curb and Gutter LF 24.00$ 32,000 768,000$ B618 Curb and Gutter LF 12.00$ 32,000 384,000$ Bituminous Tack Coat GAL 2.00$ 4,110 8,220$ Common Excavation CY 3.00$ 131,556 394,668$






Trails & Sidewalk10' Wide Concrete Sidewalk (4" Thick) SF 5.00$ 320,000 1,600,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 8,832 158,976$

Subtotal B 1,758,976$


Subtotal C 280,000$

LandscapingSeed (native) with topsoil SY 2.50$ 71,000 177,500$ Trees (shade,2.5" caliper) EA 450.00$ 1,050 472,500$

Subtotal D 650,000$



Roadway

5/21/2010 3M:\Northfield\009-PRO#-Northfield 3rd. Business Industrial Park\12 Cost Estimates\North Site Infrastructure Cost.Concept A

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 6,400 26 2.00 665,600 138 45,926Class 5 6,400 26 0.83 277,333 138 19,136Bit 6,400 18 0.33 76,800 146 5,606curb & gutter 25,600tack coat 6,400 18 0.05 11,520 1,849excavation 6,400 40 3.00 1,536,000 56,889trail bit 6,400 10 0.17 21,333 146 1,557trail base 6,400 12 0.333333 51,200 138 3,533

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 0 31 2.00 0 138 0Class 5 0 31 0.67 0 138 0Bit 0 23 0.33 0 146 0curb & gutter 0tack coat 0 23 0.05 0 0excavation 0 41 3.00 0 0walk conc 0 8 0.33 0walk base 0 10 0.333333 0 138 0

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 16,000 25 2.00 1,600,000 138 110,400Class 5 16,000 25 0.67 533,333 138 36,800Bit 16,000 16 0.33 170,667 146 12,459wide curb & gutter 32,000curb & gutter 32,000tack coat 16,000 16 0.05 25,600 4,110excavation 16,000 37 3.00 3,552,000 131,556walk conc 16,000 10 0.33 106,667walk base 16,000 12 0.333333 128,000 138 8,832

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 0 46 2.00 0 138 0Class 5 0 46 0.67 0 138 0Bit 0 24 0.33 0 146 0hardened edge 0tack coat 0 24 0.05 0 0excavation 0 62 3.00 0 0walk conc 0 6 0.33 0walk base 0 8 0.333333 0 138 0

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYLocal B Street

Arterial Street

Collector A Street

Collector B Street

Local A Street

Select granular 0 39 2.00 0 138 0Class 5 0 39 0.67 0 138 0Bit 0 30 0.33 0 146 0curb & gutter 0tack coat 0 30 0.05 0 0excavation 0 63 3.00 0 0trail bit 0 10 0.17 0 146 0trail base 0 12 0.333333 0 138 0walk conc 0 6 0.33 0

0 8 0.333333 0 138 0

North Site - Concept B


6,400 Arterial Street 4,153,248.75$ $648.955,150 Collector A (110' ROW) 3,239,302.50$ $628.99

14,950 Collector B (100' ROW) 9,188,077.50$ $614.5915,150 Local A (70' ROW) 9,810,018.75$ $647.53

8,400 Local B (70' ROW) 4,154,010.00$ $494.53





North Site - Concept BTotal LF @ Centerline 6,400

Description (Arterial Street) Unit Unit Cost Qty Subtotal


Road Striping and Signage4" Dashed White Stripe LF 0.50$ 12,800 6,400$





Trails & Sidewalk10' Wide Bituminous Trail (2" Thick) TON 70.00$ 1,600 112,000$ 4" Thick Class 5 Trail Base TON 18.00$ 3,600 64,800$

Subtotal B 176,800$


Subtotal C 112,000$


Subtotal D 368,875$



Roadway

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Description (Collector A Street) Unit Unit Cost Qty Subtotal








Subtotal B 455,200$


Subtotal C 91,000$

LandscapingSeed (native) with topsoil SY 2.50$ 22,800 57,000$ Trees (shade,2.5" caliper) EA 450.00$ 350 157,500$

Subtotal D 214,500$



Roadway





Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 103,200 1,238,400$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 34,400 619,200$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 11,700 819,000$ B1224 Curb and Gutter LF 24.00$ 29,900 717,600$ B618 Curb and Gutter LF 12.00$ 29,900 358,800$ Bituminous Tack Coat GAL 2.00$ 3,900 7,800$ Common Excavation CY 3.00$ 123,000 369,000$






Trails & Sidewalk10' Wide Concrete Sidewalk (4" Thick) SF 5.00$ 299,000 1,495,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 8,300 149,400$



Subtotal C 259,000$


Subtotal D 593,500$



Roadway




Description (Local A Street) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-21' Wide B-to-B Roadways) TON 12.00$ 96,200 1,154,400$ 8" Class 5 Aggregate Base (2-21' Wide B-to-B Roadways) TON 18.00$ 32,100 577,800$ 4" Bituminous Pavement (2-16' Wide Roadways) TON 70.00$ 11,700 819,000$ Concrete Hardened Edge LF 10.00$ 30,300 303,000$ 8' Wide Pervious Pavers SF 8.00$ 242,400 1,939,200$ Bituminous Tack Coat GAL 2.00$ 3,000 6,000$ Common Excavation CY 3.00$ 104,400 313,200$









Subtotal C 646,000$


Subtotal D 449,825$



Roadway




Description (Local B Street) Unit Unit Cost Qty Subtotal

Paving & UtilitiesRoadway Improvements24" Select Granular Borrow Subbase (2-35' Wide B-to-B Roadways) TON 12.00$ 45,300 543,600$ 8" Class 5 Aggregate Base (2-35' Wide B-to-B Roadways) TON 18.00$ 15,100 271,800$ 4" Bituminous Pavement (2-30' Wide Roadways) TON 70.00$ 6,200 434,000$ B618 Curb & Gutter LF 12.00$ 16,800 201,600$ Bituminous Tack Coat GAL 2.00$ 2,100 4,200$ Common Excavation CY 3.00$ 58,900 176,700$






Trails & Sidewalk10' Wide Bituminous Trail (2" Thick) TON 70.00$ 2,100 147,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 4,700 84,600$

6' Wide Concrete Sidewalk (4" Thick) SF 5.00$ 50,400 252,000$ 4" Thick Class 5 Sidewalk Base TON 18.00$ 3,100 55,800$

Subtotal B 539,400$

Lighting & SignageStreet Lighting @ ~400' Spacing EA 7,000.00$ 21 147,000$ Pedestrian Lighting @200' Spacing EA 5,000.00$ 42 210,000$

Subtotal C 357,000$


Subtotal D 249,000$



Roadway


Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 6,400 26 2.00 665,600 138 45,926Class 5 6,400 26 0.83 277,333 138 19,136Bit 6,400 18 0.33 76,800 146 5,606curb & gutter 25,600tack coat 6,400 18 0.05 11,520 1,849excavation 6,400 40 3.00 1,536,000 56,889trail bit 6,400 10 0.17 21,333 146 1,557trail base 6,400 12 0.333333 51,200 138 3,533

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 5,150 31 2.00 638,600 138 44,063Class 5 5,150 31 0.67 212,867 138 14,688Bit 5,150 23 0.33 78,967 146 5,765curb & gutter 20,600tack coat 5,150 23 0.05 11,845 1,902excavation 5,150 41 3.00 1,266,900 46,922walk conc 5,150 8 0.33 27,467walk base 5,150 10 0.333333 34,333 138 2,369

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 14,950 25 2.00 1,495,000 138 103,155Class 5 14,950 25 0.67 498,333 138 34,385Bit 14,950 16 0.33 159,467 146 11,641wide curb & gutter 29,900curb & gutter 29,900tack coat 14,950 16 0.05 23,920 3,840excavation 14,950 37 3.00 3,318,900 122,922walk conc 14,950 10 0.33 99,667walk base 14,950 12 0.333333 119,600 138 8,252

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYSelect granular 15,150 46 2.00 1,393,800 138 96,172Class 5 15,150 46 0.67 464,600 138 32,057Bit 15,150 24 0.33 121,200 146 8,848hardened edge 30,300tack coat 15,150 24 0.05 18,180 2,919excavation 15,150 62 3.00 2,817,900 104,367walk conc 15,150 6 0.33 60,600walk base 15,150 8 0.333333 80,800 138 5,575

Length (ft) Width (ft) Depth (ft) Volume (cf) lb/cf Tons gallons CYLocal B Street

Arterial Street

Collector A Street

Collector B Street

Local A Street

Select granular 8,400 39 2.00 655,200 138 45,209Class 5 8,400 39 0.67 218,400 138 15,070Bit 8,400 30 0.33 84,000 146 6,132curb & gutter 16,800tack coat 8,400 30 0.05 12,600 2,023excavation 8,400 63 3.00 1,587,600 58,800trail bit 8,400 10 0.17 28,000 146 2,044trail base 8,400 12 0.333333 67,200 138 4,637walk conc 8,400 6 0.33 33,600walk base 8,400 8 0.333333 44,800 138 3,091


Phasing DiagramNORTH SITE PHASE 1-A

Civic



Retail

Mixed-Use



Parking/Streets

Open Space

Existing Roads

LEGEND

September 9th, 2010

NORTH AVENUE

DEC

KER

AVE

NU

E

320TH STREET

STATE HWY 19

COU

NTY

RO

AD 2

3


Phasing DiagramNORTH SITE PHASE 1-B1

Civic



Retail

Mixed-Use



Parking/Streets

Open Space

Existing Roads

LEGEND

September 9th, 2010

NORTH AVENUE

DEC

KER

AVE

NU

E

320TH STREET

STATE HWY 19

COU

NTY

RO

AD 2

3


Phasing DiagramNORTH SITE PHASE 1-B2

Civic



Retail

Mixed-Use



Parking/Streets

Open Space

Existing Roads

LEGEND

September 9th, 2010

NORTH AVENUE

DEC

KER

AVE

NU

E

320TH STREET

STATE HWY 19

COU

NTY

RO

AD 2

3


Phasing DiagramNORTH SITE PHASE 1-C

September 9th, 2010

Civic



Retail

Mixed-Use



Parking/Streets

Open Space

Existing Roads

LEGEND

NORTH AVENUE

DEC

KER

AVE

NU

E

320TH STREET

STATE HWY 19

COU

NTY

RO

AD 2

3

Northfield Business and Industrial Park8-Sep-10

Phasing Strategy - North Site (DRAFT)

Phase One (estimated costs, developables lands and timetable)


Roadway and Utility CostsArterial (CR 23) 4,000 LF 649.00$ 2,596,000.00$ Collector (Type A) 2,000 LF 629.00$ 1,258,000.00$ Collector (Type B) 7,000 LF 615.00$ 4,305,000.00$ Utilities in North Ave. (per current city cost info) LS 730,000.00$ Additional Utilities in North Ave. LS 250,000.00$ Roundabout at Hwy 19 and CR 23 LS 1,000,000.00$ Land Acquisition for Roundabout LS 250,000.00$ Stormwater management (ponds/infiltration) LS 500,000.00$ Water tower LS 2,000,000.00$ Grading (associated with access for development) LS 1,000,000.00$

Total Cost (Phase One) 13,889,000.00$

Developable Acres (Phase One) 168.5 acres

Development Timeframe (Phase One) 15 - 20 years

Estimated Annual Tax Revenue Generated (City) 1,900,496.00$

Estimated Number of Jobs Created 2,703

Phase Two (estimated costs, developables lands and timetable)


Roadway and Utility CostsLocal (Type A) 3,800 LF 647.00$ 2,458,600.00$ Local (Type B) 5,600 LF 495.00$ 2,772,000.00$

Total Cost (Phase Two) 5,230,600.00$

Developable Acres (Phase Two) 17.5 acres

Development Timeframe (Phase Two) 2 - 3 years

Estimated Annual Tax Revenue Generated (City) 67,793.00$

Estimated Number of Jobs Created 314

Note: The streets and utilities identified for development in Phase Two could be considered for negotiationwith developer for sharing costs. These are the local streets necessary to complete the plan and open up all developable areas within the Phase One general area.

Phase Three (estimated costs, developables lands and timetable)


Roadway and Utility CostsCollector (Type A) 300 LF 629.00$ 188,700.00$ Collector (Type B) 3,500 LF 615.00$ 2,152,500.00$ Local (Type B) 2,900 LF 495.00$ 1,435,500.00$ Stormwater management (ponds/infiltration) LS 200,000.00$ Grading (associated with access for development) LS 250,000.00$

Total Cost (Phase Three) 4,226,700.00$

Developable Acres (Phase Three) 98.5 acres

Development Timeframe (Phase Three) 10 - 12 years


Estimated Number of Jobs Created 1,420

Phase Four (estimated costs, developables lands and timetable)


Roadway and Utility CostsArterial (CR 23) 2,400 LF 649.00$ 1,557,600.00$ Collector (Type B) 6,660 LF 615.00$ 4,095,900.00$ Stormwater management (ponds/infiltration) LS 200,000.00$ Grading (associated with access for development) LS 250,000.00$

Total Cost (Phase Four) 6,103,500.00$

Developable Acres (Phase Four) 100 acres

Development Timeframe (Phase Four) 10 - 12 years


Estimated Number of Jobs Created 635

3_Northfield Project Reference Document_Cost Estimates

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