Laserfiche WebLink
EXHIBIT E <br /> EFFECT OF GRAPE ROAD DEVELOPMENT <br /> ON MULTI—FAMILY STARTS <br /> 1975 thru 1987 <br /> Mishawaka/Northeast 2,403 <br /> South Bend/Northwest 1,118 <br /> Differential (54%) 1,285 <br /> What does 1,285 Multi—Family -Units mean to a community: <br /> ASSESSED VALUATION/TAXES <br /> 1,285 X 650 SF Avg. Size = 835,250 Total SF <br /> 835,250 SF @ $1.45 PSF Assessed Value =$1,211,112 <br /> $1.2 Million Assessed Value @ $15.00 + Tax Rate = $182,000 + <br /> CONSTRUCTION/WAGES <br /> 835,250 SF @ $40 PSF = $33,410,000 Cost <br /> $33,410,000 X 38% Labor = $12,695,800 Wages <br /> (1) POPULATION <br /> 1,285 Units @ $2.49 per NN = 3,200 Citizens <br /> (1) INCOME <br /> 1,285 Households @ $23,447 = $30,167,945 <br /> FOOTNOTE: <br /> (1) Source of report from Urban Decision Systems for geographic <br /> area of subject property. <br />