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Freeway Signage The Agency is responsible for finding a suitable location, visible from Interstate 880, for a Readerboard Sign. The Agency has no financial obligations related to the sign or the land upon which the sign will be located. The Auto Dealer's cost for purchasing the sign and leasing the site for the sign is not included in this analysis as these are not considered site assemblage costs. Project Management The Agency is expected to incur project management costs of $300,000. These costs will not be passed on to the Auto Dealer. 3. Estimated Total Costs - Agency Assemblage For this agreement, the up -front costs that the Agency must incur are estimated to be: Estimated Site Assemblage (Purchase Land) - 1066-1072 Marina Blvd. $ 450,000 Site Assemblage (Purchase Land) - 1152 Marina Blvd. 740,000 Environmental Remediation - 1066-1072 Marina Boulevard 57,000 Predevelopment Costs(l) 40,000 Project Management(l) 3001000 Asbestos and Lead -Paint Removal- 1066-1072 Marina Boulevard 10,000 Closing Costs 202000. Equipment.Relocations - 1152 Marina Boulevard 5.000 Total $1, 622,000 (1)Predevelopment and project management costs will not be included in the total costs passed on to the Auto Dealer. 4. Payment by Auto Dealer (Revenues to the Agency) The Agency will sell the Agency Assemblage to the Auto Dealer for a set purchase price, as described earlier in the report. The purchase price will be determined by the formula (described previously in Section V of the report), as summarized below: Total Costs to Agency $ 1,622,000 Less Predevelopment and Project Management (340.0001 Costs not Passed on to Auto Dealer Total Costs Passed on to Auto Dealer $1,282,000 (Rounded) $1,300,000 Less Credit to Auto Dealer (800,000) Net Payment (balloon payment) by Auto Dealer to Agency, Year 5 $500,000 Present Value of Payment to Agency $ 340,000 KEYSER MA RSTON ASSOCIATES INC. 19096=14-003.doc Page 19