tollefsen village business plan

THIS PLAN IS CONFIDENTIAL. COPYRIGHT © MMXII TOLLEFSEN LLC. ALL RIGHTS RESERVED.

Confidential ComprehensiveExpansion Plan

B L O O M F I E L D M I C H I G A N

Confidential | 1

Notice of Confidentiality

The information contained in this plan is highly confidential. No portions may be reproduced, copied, distributed, or otherwise disclosed without the express written consent of Tollefsen, LLC and Chuck

Tollefsen. The disclosure of this information is intended only for the person who has executed a confidentially agreement with Tollefsen, LLC. This notice constitutes a confidential relationship between you, the reader, Tollefsen Communities and Chuck Tollefsen. This plan in its entirety must be surrendered to Tollefsen and Chuck Tollefsen upon request.

Not an Offering

This is not an offering to sell securities. Such an offer can only be made by a private offering memorandum.

Copyright

Copyright © 2012 Tollefsen, LLC. All rights reserved. Tollefsen Communities project number 316.

Delivery

This plan may be delivered via the Tollefsen

website at www.ctollefsen.comor hand delivered in printed form.

Inquiries:

Mr. Chuck Tollefsen, Tollefsen LLC636 East 6th Street

Tulsa, Oklahoma 74120United States of America

Tel 918 743 3676

eMail: [email protected]: www.ctollefsen.com

Preparation

Competent financial and industry experts should be consulted. Tollefsen makes no legal representations whatsoever, and further recommends that anyone viewing this plan consult competent legal counsel. Tollefsen urges you to ask questions regarding any of the information contained

herein. Any research cited is provided by outside sources, and Tollefsen makes no representations as to its accuracy.

Confidentiality Agreement

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Confidential | 2

Leaders

Chuck Tollefsen President

Tollefsen Village LeadsTollefsen Village LeadsTollefsen Village LeadsTollefsen Village LeadsDavid Oberle Director of ProjectsDirector of ProjectsDirector of Projects

Pamela Rosenbaum Community DirectorCommunity DirectorCommunity DirectorChris Shondelmyer Director of ResearchDirector of ResearchDirector of Research

Executive ArchitectExecutive ArchitectExecutive ArchitectExecutive Architect

Andy Cohen Executive Director, Gensler WorldwideExecutive Director, Gensler WorldwideExecutive Director, Gensler Worldwide

Marty Borko Principal + Leader Mixed Use Practice WorldwidePrincipal + Leader Mixed Use Practice WorldwidePrincipal + Leader Mixed Use Practice Worldwide

Legal CounselLegal CounselLegal CounselLegal CounselSteve Metcalf General Counsel, Partner, McDonald, McCann & Metcalf, LLPGeneral Counsel, Partner, McDonald, McCann & Metcalf, LLPGeneral Counsel, Partner, McDonald, McCann & Metcalf, LLP

Cheryl Denney Government Counsel, Partner, McAfee & TaftGovernment Counsel, Partner, McAfee & TaftGovernment Counsel, Partner, McAfee & Taft

AdvisorsAdvisorsAdvisorsAdvisorsBernard Carballo Retired COO, Majority Stockholder, Seagate TechnologiesRetired COO, Majority Stockholder, Seagate TechnologiesRetired COO, Majority Stockholder, Seagate Technologies

Terry Horton Co-founder, D.R. Horton Homes NationwideCo-founder, D.R. Horton Homes NationwideCo-founder, D.R. Horton Homes Nationwide

Contacts


Corporate InformationCorporate InformationCompany Tollefsen LLCType Oklahoma Limited Liability

CompanyHeadquarters 636 East 3rd Street

Tulsa Oklahoma 74120 USATele 24/7 1+ 918 743 3676eMail [email protected] www.cTollefsen.com



http://www.cTollefsen.com

http://www.cTollefsen.com

Confidential | Précis | 3

Précis

Summary. Research+Social Criteria Met. Extensive research determines the size...here is the result: Spanning 480+ acres it is located within the 5th wealthiest US township of Bloomfield and adjacent Pontiac, Michigan. It is a comprehensive infill, upscale, suburban community where you can safely live, shop, play and stay. Michigan themed, it’s affordable, relaxed, and set in a world-class beautiful resort. The unique “Imaagine” social programs make Tollefsen Village spring to life. Here is the difference we make in Michigan’s job market and economy.

Project Description. Complete CommUnity.

Green: Using geothermal, solar and biogas this will be Michigan's first sustainable nearly carbon neutral, fully integrated, neighborhood.

Pre-leasing + Timing: We have a jumpstart on opening by incorporating “Bloomfield Park” a partially completed development.

Business Operations. World-class Team.The Tollefsen CommUnities Development team provides the overall direction and coordinates with the participants - architect, builder, city officials, hotel management, etc. Focus is on planning and financial oversight to ensure that quality control, construction progress and the budget is maintained over all elements. Ongoing management/oversight will be provided by experienced industry companies/professionals.

Research. Hypothesis Confirmed.

Following extensive research using the null hypothesis testing model, Tollefsen found no reason to stop moving forward with development.

Financial. Makes Sense All Around.Tollefsen VIllage is made up of several components. Each has its own financial structure, incentives utilized and rate of return. See the Financial Section for Element details.

Total Cost $MillionsConstruction $1,050Soft Costs $200

Total $1,250

Element Sq Ft.In Thousands

Units

Retail Space 303 87Office 181 n/aRestaurant 192 29Lofts 387 364Hotel 1 | Business 312 235Hotel 2 | Themed 133 112Hotel 3 | Resort 133 122Golf Clubhouse 10 2Grand (Sr) Living 194 130Brownstones 240 112

Development TeamDevelopment Team

Founder Chuck TollefsenProject Leaders

David Oberle, Pamela Rosenbaum, Chris Shondelmyer

Advisors Terry Horton, co founder of DH Horton Homes (Largest in US)Bernard Carballo, former COO of SeagateKingsley Koch, Director, DIRTT Environmental Solutions, Canada

Architect | Lead

Gensler, Los Angeles/DetroitAndy Cohen, Executive Director/LAMarty Borko, Principal and leader of Gensler’s mixed use practice/LA

Architect M+E, Ohio, former Bloomfield Park architect

Real Estate Robert Mihelich, CBRE DetroitDennis Griffin, CBRE Detroit

Timeline/Months 1 2 4 12-18

Final PlanningCapitalConstructionOpening

Social+Economic ImpactSocial+Economic ImpactNew Jobs 25,000Permanent Jobs 10,000$MillionsInvestment $1,250Taxes Yrs 1+2 $488Taxes /Yr 3+ $244

Pre-LeasingPre-LeasingDining 72%Retail 69%Office 4%Total 57%



Located within minutes of Downtown Detroit and facing Telegraph Road, Tollefsen Village is on the border of Pontiac and Bloomfield Hills, Michigan.

Précis | Location Maps

Bloomfield Hills

Tollefsen Sports Fields 260 acres

Village 220 acres

Précis


Précis | Location Maps | Existing “Bloomfield Park”

This is an aerial view of the existing, partially-completed development known as “Bloomfield Park”. It is estimated that somewhere between $150MM and $300MM has been invested in land, infrastructure and partially-completed buildings.

Retail + Office Retail + Parking Garage

Retail + Lofts Retail + Office Retail + Parking GarageRetail + Parking

Précis


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Précis | Preliminary Site Map | Existing+Planned+Conceptual

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Cottages + Brownstones

Grand Living

ConceptualRetailLivingOfficeParkingGarage

This view encompasses the existing structures, resort hotel, living and concepts for the very front of the property facing Telegraph Road. It is anticipated the front “Conceptual” development will be done last in the development process. The circled letters correspond with the descriptions on the following page.

Précis


Précis | Building Map Key & Estimated Square Footage Summary

The graph to the right corresponds with the drawing on the previous page.

Précis


Précis | Pre-Leased Summary

The table and graph correspond to the estimated pre-leased units within the buildings.

Current Estimated Pre-Leased Percentages:

Restaurant Space 72%Retail Space 69%Office Space 4%Total Space 57%

Information provided by CBRE.

[ End of Section ]

Précis

Confidential | 9

Précis 3

Project Description 11

Unique Attributes 12

Project History 13

Elements/Components 14

1 | Spirit, Heart + Soul 15

2 | Live 18

3 | Resort Hotel 30

4 | Work 31

5 | Play 32

6 | Shop 36

7 | Sports+Arts 39

8 | Health+Safety 42

Business Operations 47

Oversight 48

Org. Chart 48

Excellence, Accountability +Transparency 49

Community Leaders 49

Construction 50

Financial 51

Tollefsen Profits 51

Use of Incentives 51

Sales+Marketing 51

Development Team 53

Research 63

Feasibility: Method 64

Feasibility Areas 65

Business Feasibility 65

Project Specific 66

Litigation+Other 67 Material Issues

Financial 69

Operating Income Statement 70

Building Location Map 71

Est. Total Const. Costs 72

Retail Const. Costs 73

Retail Estimated Income 74

Loft Const. Costs 75

Loft Details 76

Hotel+Resort Const. Costs 77

Grand Living Const. Costs 78

Brownstones Const. Costs 79

Table of Contents

Confidential | 10

Confidential | Project Description | 11

This section describes the entire Tollefsen Village project.

Project Description


1. The Tollefsen Village concept is based upon substantial demographic research.

2. Located within Bloomfield Township, and Pontiac Michigan.

3. Approx. 8 million people reside in the Detroit MSA.

4. First integrated living complex in the area and patterned after the successful Legacy Center in North Dallas (Plano), Texas, LA Live in Las Angeles, CA and Dominion in Austin, Texas.

5. Project hosts first 5-star resort hotel in Bloomfield or Pontiac similar to a Ritz-Carlton/Four Seasons.

6. Shops, restaurants, living, work space, pools, theatre, hotels, entertainment district, grocery store, medical clinic, and ice-rink, will all be contained within Tollefsen Village.

7. The Bloomfield Township retail market has over the last 5 years enjoyed retail, apartment and office space absorption rate of +80%.

8. Splendid creative design that has a “World-class” quality and image, priced at below market rates.

9. Will enable all types of families to live within Tollefsen Village through differing housing alternatives and price points.

10. Tollefsen Village will be the safest place to live, shop and visit due to ConciergeCare - a technology integration developed by Formaation.

11. All facilities within Tollefsen Village will be built to LEED standard and striving for Carbon Neutral with Wind, Solar and Geothermal.

12. Located adjacent to Major Hospitals and Health care facilities, with on site 24 hr clinic and pharmacy.

13. Convenient and accessible location along Telegraph Road.

14. Adjacent Land allows for ease of expansion.

Unique Project Attributes

Project Description


Project History

Tollefsen Village was formulated by Chuck Tollefsen, an entrepreneur for over 20 years, and his firms, Tollefsen CommUnities and Formaation. Formaation (www.formaation.com), has been active in many types of businesses - developing them and assisting others in their development - often using government incentives to lower the cost. Tollefsen CommUnities is a development company whose sole purpose is to ease the suffering of people and to provide a better way of life.

Upon completing extensive feasibility research for the Detroit area (including Pontiac, Bloomfield Hills, Troy, Flint, Dearborn, Farmington Hills etc.) and other economically depressed areas, it became clear that Michigan is ready for a complex of the size, design and price of Tollefsen Village.

The discovery of the stalled Bloomfield Park project which has over $300 Million in infrastructure and construction will allow an accelerated completion schedule. Though some aspects of the Bloomfield Park design and model is unsuitable and insufficient for the needs of Tollefsen Village, the majority of the items which have been constructed are useable as planned.

Public Support

Tollefsen CommUnities and Formaation are working closely with Oakland County, Pontiac and Bloomfield Township to aid and assist with land acquisition, government incentives and permitting.

Being well versed with the local bureaucracy, Tollefsen CommUnities has been assured it will receive full cooperation from the city, county and its employees.

Feasibility

Through study sessions and research, Tollefsen CommUnities has formalized its plan to redevelop the previously failed Bloomfield Park area. Weighing the opinions of Consultants such as Terry Horton (co-founder D.R. Horton Homes), Gensler Architecture Firm (LA and Phoenix offices), M

+A Architects, and Haskell Architects, Tollefsen Communities and Formaation have established the area, the scope and the plan that will become Tollefsen Village. The cost estimates have been developed using standard AIA costs, RS Means. Tollefsen CommUnities submitted these budgets to Flintco Construction

based in Tulsa, OK and Haskell Construction based in Jacksonville, FL for their review and recommendations. Those recommendations have been incorporated. Gensler Architects, Los Angeles, reviewed the project and made recommendations which led to the final costs for anticipated structure design.

Tollefsen Village employs timeless style and is based on solid research with practical cost projections to arrive at the final project development, ready to be initiated at the proposed location within the proposed timeframe.

Project Description




Tollefsen Village is a cross-generational, mixed-use, lifestyle community divided into these main elements:

1| Spirit, Heart + Soul 1 Chapel, Michigan Theme, The Sounds of Motown

2| Live 29965

115608010

HeartLoftsHeartHomesHeartStonesGrandLiving ApartmentsGrandLiving CottagesGrand Living HeartStones

3| Stay 200 Rooms300 Rooms

Resort Hotel Luxury Hotel and Conference Center

4| Work 185,000 SF Work Space - Practice Your Passion

5| Play 37 Restaurants

6| Shop 87+ Shops from Boutique to National Brands to Co-op

7| Recreate Multi Sports All Arts and Sports for All Ages

8| Health, Service, Safety

24 hr Onsite Assistance

Healthcare, ConciergeCare, SafeZone

Tollefsen Village | Elements

Project Description


The Soaring Spirit makes each Tollefsen CommUnity come alive. We construct and design a special non-denominational chapel for everyone to enjoy. Staffed by retired ministers, attention is there for you 24/7.

The Chapel is a place for worship, to get married, to talk to someone, to listen to a concert...all kinds of good things happen here.

Uniquely inspired architecture with warm woods and calming colors. All symbols of our spirit that propel us to further greatness than when we entered.

Come see the Spirit of Angels in Architecture.

Components Specs

Chapel Non Denominational

Services Minister Avail. 24/7

Location In the Village Heart

Amenities Weddings, Worship, Music, Special Events

Size 4,000 SF

Architecture Sacred and Beautiful

Element 1 | Spirit, Heart + Soul | Spirit

Project Description


Each Tollefsen CommUnity has a deep history and unique attributes that make it a one-of-a-kind historical accomplishment. No two CommUnities are alike. Tollefsen CommUnities mirror not only the hosting city and its attributes, but also the fine thread of events, whether it be in the past or the present that bring people in the same locale together. Tollefsen CommUnities takes the glue that bonds people with their neighborhood and magnifies it to create a deeper, truer, neighborhood character.

Here you will find the pulse of the development. Tollefsen CommUnities are

alive with vitality—each resident, family, business—free to pursue excellence. Tollefsen CommUnities are the springboard that assist its residents in transcending from normal and common to excellence and innovation.

The soul of Tollefsen CommUnities is the master plan that creates a stage for accomplishment, gain, and achievement. It creates a gratifying lifestyle with purpose, direction and fulfillment.

Element 1 | Spirit, Heart + Soul | Soul

Project Description


The heart—the innermost and central theme of a Tollefsen CommUnity—is in part a historical mixture of occurrences that frame an area and impact the residents. Michigan, rich in its beauty, is a perfect frame for the picture of a Tollefsen CommUnity. The beauty of the Great Lakes, white sand dunes and changing seasons, as well as the rich iron ore, copper, salt and gravel mines are all part of the treasure of resources that Michigan offers.

Michigan people are problem solvers and people of soul. Look at the the Mackinaw Bridge, one of the world’s longest suspension bridges that links the upper and lower peninsula, or the deep soul music that permeates the entire world.

Michigan people are explorers and entrepreneurs, not afraid and courageous. French voyageurs settled and explored

Michigan. Detroit became a major fur trading and shipping post primed for business. That innovative business spirit continued with the birth of the auto industry and permanently altered the socio-economic life of the United States and much of the world.

Auto industry jobs created a melting pot of culture and diversity as cultures within the city developed communities like Greek-town and Chinatown. Detroit was especially affected by the large urban culture and from that sprung the Motown Sound in the 1960’s led by a variety of singers and groups.

The heart—moving, propelling, revolving, performing—strengthened by the energy of a Tollefsen CommUnity.

Element 1 | Spirit, Heart + Soul | Heart

Project Description


Live is the residential components of Tollefsen Village. The components are divided among HeartLofts (Rental/Lease Residence Lofts), HeartHomes (Purchased Resident Lofts both modern and Luxury) HeartStones (Purchased Brownstone Residences), HeartCottages (Purchased single family homes for both young and old) and Grand Living (a combination of Cottages Brownstones and Apartments exclusive to Seniors). Tollefsen Village will offer approximately 470,000SF in HeartLofts, 260,000SF in HeartHomes, and 350,000SF in Brownstone Living opportunities. This total of 1,080,000SF will provide anywhere from 500 to 600 units dependent on floor-plan demand.

All residential layouts can be configured to conform to the housing demand by using a base floor-plate size that can be manipulated to fit a variety of sizes. This flexibility allows Tollefsen Village to adjust should our research results prove to be different from our client needs.

HeartLofts

Element 2 | Live

GrandLiving

HeartCottages

HeartStones

HeartHomes

Components Specs

HeartLofts 239

HeartHomes 65

HeartStones

Light 35

Sound 40

Rising 25

Paramount 15

GrandLiving

GrandLofts 60

Brownstones 30

Cottages 80

LuxuryLiving 60

TOTAL 649

Project Description


HeartLofts will be available for rent or “Lease to Own “ and will range in size from 600 to 2,400SF, in studio to four bedroom configurations. The HeartLofts will be available for rent on a first come, first serve basis, and will be affordable at a low monthly rent between $600 and $2,000. The HeartLoft pricing will be based on a formula of cost per square foot and designed to accommodate a varying range of sizes and floor-plates and income levels, which will be determined as demand dictates.

The HeartLofts will have the use of ConciergeCare, and have numerous amenities including secured entrances and exits, secured parking, private elevators, community pool, rooftop gardens, community building, and fitness center. Each HeartLoft shall have designated covered parking spaces within a structure or underground and be connected by an elevator or climate controlled access. Many HeartLofts shall have large shared garden balconies and direct access to rooftop gardens. All HeartLofts shall have large windows and a private balcony and access to the rooftop gardens. Heat and air will be

supplied by way of geothermal system, which will allow for 60% savings on heating/cooling bills. Each HeartLoft will be designed and built similar to LEED standards.

Element 2 | Live | HeartLofts

Components Specs

HeartLofts 239

Building A, B, C, E, L

Lease Rate $650—$2,200

Size 600—2,400SF

Est. Const. Cost $86,792.6

HeartHomes 65

Building J

Est. Sale Price $185—$425

Size 1,100—2,600SF

Est. Const. Cost $162,244.8

(Est. Costs in thousands)(Est. Costs in thousands)

Project Description


Tollefsen Village HeartHomes are Residence Lofts that will be for sale and range in size from 1,100 to 2,700SF containing two to four bedrooms for modern and 1,800 to 5,000SF with two to ve bedrooms for Luxury Resort. They will be sold as part of a cooperative. The HeartHomes will be designed to allow for each unit to have expansion available and sales will dictate the number and size needed.

The Modern HeartLofts will be built above the retail and ofce space and will be limited to a rst come rst serve basis. All HeartHomes will have elevator access. Many lofts will have private garden balconies, and all will have access to a rooftop garden. The Luxury HeartHomes will be within the Tollefsen Hotel.

HeartHomes have increased security and privacy and will be supplied with 24 hr hotel conveniences.

Both HeartHome choices will have Concierge Care, but the Luxury HeartHomes will also have a full time staff to only service the Luxury HeartHomes.

The HeartHomes shall have numerous amenities, some shared with the HeartStone residences. The amenities shall includes a private adult rooftop pool, shared larger family pool, community center, tness center, lush gardens, private rooftop gardens and secured parking. Each HeartHome will come with two designated parking spaces with additional spaces available as well as secured storage. All HeartHomes will have a private balcony and access to the HeartLoft amenities as well.

Element 2 | Live | HeartHomes

Project Description


The HeartStones will range in size from 1,800 to 5,500SF and will be two to five bedrooms with expandable plans. HeartStones will be offered in a variety of styles; Light, Sound, Rising and Paramount. They will be sold as part of a cooperative, the same structure as the Residence Lofts or HeartHomes.

Each HeartStone will have a private garden balcony and will offer numerous upgrades including private rooftop splash pools, commercial kitchen appliances, outdoor kitchens, sunken baths, steam showers, and window shades. All HeartStones shall have access to rooftop gardens and numerous amenities. The amenities shall include a private adult rooftop pool, shared larger family pool, community center, fitness center, lush gardens, private rooftop gardens and secured parking access to private playgrounds. Most HeartStones shall have private elevator access, and storage with a minimum of two parking spaces. Additional parking spaces will be available upon request.

Element 2 | Live | HeartStones

Components Specs

Light 35 Units


Size 1,800—3,000SF

Est. Construction Cost $19,585.2

Sound 40 Units


Size 2,200—3,500SF


Rising 25 Units


Size 2,500—4,000SF


Paramount 15 Units

Est. Sale Price $575—$1,200

Size 3,000—5,500SF



Project Description


“Light” HeartStones will be super-sleek modern with expansive glass carried into the pool or garden area. Clean lines, lots of natural light, open kitchen and bathroom plans with smooth cabinets, no crown moldings, recessed LED lights, long slender gas ember fireplace, all controlled with a single remote. Light HeartStones are intended to bring outdoor-space into the living areas. The roof garden will match the style with a simple sleek look with minimal

use of plantings and common materials. Underground storage, service and garage keep curbs looking crisp and clean.

Light Heart Stones are for those who enjoy the outdoors all year long and relish the Seasons.

Element 2 | Live | HeartStones | Light

Project Description


“Sound” HeartStones are built in classic modern architectural style with a mixed use of materials, textures and glass. Natural light will be mixed with classic style LED lighting. Kitchens and bathrooms will offer more division with high-end appliances and fixtures. Few walls will be used; only to separate areas. Fireplace shall be alcohol in a more modern manner. State-of the art controls will manage lights, entertainment, window coverings, and ambiance all at your fingertips. The roof garden will have a classic modern feel with a simple planting plan and

a wide use of materials in the hardscape. Underground storage, service and garage keep curbs looking crisp and clean.

Sound HeartStones are for those who enjoy the benefits of Natural Light but prefer a more private setting.

Element 2 | Live | HeartStones | Sound

Project Description


“Rising” HeartStones are an updated Michigan style. Classic feel with a hint of modern flare to provide buyers with a sense of Urban living, but the coziness of traditional style. Natural light will flow throughout with oversized traditional windows. Classic staircases and moldings offer the resident a more traditional style. High-end appliances and fixtures will adorn the separated kitchen and baths with cabinetry and hardware maintaining a classic feel. The roof garden will offer

landscaping to match the style, with less reliance on the hardscape and more on lush plantings and variety. Underground storage, service and garage keep curbs looking clean and is the ultimate in convenience and security.

Rising HeartStones are for those who like the idea of urban living for its convenience but cannot fully let go of their traditional style.

Element 2 | Live | HeartStones | Rising

Project Description


“Paramount” HeartStones are considered the best of traditional architecture with the convenience of modern technology. The classic feel of a traditional New York historical Brownstone complete with large crown moldings, cut stone fireplace, dark wood cabinetry and traditional kitchen with the best in appliances. Paramount is for those entrenched in tradition and classic style. All the classic appointments with modern operations of remote control. The private courtyard will be lushly planted with classic

patio and pergola. Underground storage, service and garage keep curbs looking clean and is the ultimate in convenience and security.

Paramount HeartStones are for those who like the idea of urban living for its convenience but cannot fully let go of their traditional style.

Element 2 | Live | HeartStones | Light

Project Description


Tollefsen Village refers to its Senior Living component as Grand Living, because it is just that—“Grand.” Grand Living will be a mix of living choices with varying aspects and an array of choices to assist with daily life, but all commonly themed. The leasable units will consist of apartments contained within a 3 story apartment complex (Grand Lofts), a mixture of independent single family homes (Grand Cottages and GrandStones) with shared walls and elevators. GrandLofts will offer floor plans ranging from 500SF studios to 1,500SF two bedroom apartment with each having a choice of amenities and services. The GrandCottages ranging from 1,200 to 2,200SF offer the opportunity to use all the amenities of the GrandLoft Living, but with the choice of fully independent living and a choice of views and security levels.

Element 2 | Live | Grand Living

Components Specs

GrandLofts 60 Units

Lease Rate $1,250—$2,000

Size 750—1,200SF


GrandStones 30 Units


Size 2,500—3,500SF


GrandCottages 80 Units


Size 1,500—2,200SF



Project Description


Any unit within the GrandLoft complex, the GrandCottage development, or GrandStones will have full and complete access to any of the Senior living amenities and services, and will all be within walking distance of Tollefsen Village.

Tollefsen Village Senior Apartment Complex will be referred to as the GrandLofts. Designed specifically for the active senior over 55, GrandLoft living at Tollefsen Village offers a social, lively environment that focuses on life without quite as many demands. Residents relish in reduced home maintenance and chores, and delight in spacious apartments with full-sized kitchens and balconies overlooking an impeccably maintained golf course, Native wetland or Park. For the GrandLiving customer it is life with housekeeping services, on-site shopping, an in-house full-service beauty salon, wonderful nutritious meals, an onsite tavern for socializing, access to a wide array of amenities, and the added safety and convenience within a secured building and grounds environment.

The GrandLofts will be built for expansion. Phase 1 will be a three story 60 unit facility including an activities center, restaurant, exercise room, 24 hour cafe, library, game room, computer room, and will offer an extensive patio with lush outdoor landscaping.

Features:

• GrandLofts include an alcove, and one and two bedroom floor plans

• Accessible room design for a variety of needs

• Choice of location and view

• Oversized bathroom with tiled walk-in showers with seating bench

• Emergency in-house call system in each room, shower and facilities

• Individual unit climate control with heated and cooled floors.

• Complete utility package provided for ease of a single set rate billing, weekly, monthly quarterly or yearly.

• Kitchen appointed w/granite countertops and top of the line appliances

• Cable television and wireless internet services included within Utility Package.

• Ample storage within room and additional storage available on site.

• Smooth transition flooring materials to reduce tripping

• Experienced staff on hand 24 hours a day/7 days a week

• Shuttle services to and from medical appointments, airport, shopping, arts, and outside activities.

• 24 hour security controlled access

• Special dietary accommodations

• Room service availability

• Access to complete line of ConciergeCare Services

• Easy access to walking trails, private parks, golf course, and nature preserve.

• Walking distance to public movie theatre, restaurants, entertainment venues, fantastic shopping.

Element 2 | Live | GrandLiving | GrandLofts

978 s.f 2 Bedroom

Project Description


Independence is something to be celebrated. The choices of Tollefsen GrandLiving puts you in control of your life. Choose from a variety of activities and dining options that you are a part of designing.

Enjoy the simple life with as few routine home owning chores as you desire leaving you time to enjoy things important to you.

Similar to GrandLoft living, GrandCottage living offers tailored daily support. Residents can choose the exact amenity plan that ts them. Plans may include physical therapy, personal trainers, meal plans, housekeeping, full golf package, shuttle service, or numerous other amenities. Whether a resident wishes to prepare all meals themselves or have all three meals prepared for them and delivered to the door daily, house keeping daily or weekly or somewhere in between, each resident will be able to select a service package best suited to their needs. Regardless of service package selected, they will be connected to “ConciergeCare” for all the convenience of the resort at their ngertips.

The leased or purchased GrandCottage offer the full comforts of home with the convenience of a resort. Either fully furnished or unfurnished, all cottages face the golf course, green space, or one of the numerous ponds and wetlands . Each GrandCottage contains a covered patio, has a private gated entry, and offer a variety of oor plans which can be modied to suit anyone’s taste.

Each GrandCottage comes with a 1or 2 car garage plus golf cart with additional parking space within the driveway. Each one is designed to have its own unique character while still maintaining the architectural style of Tollefsen Village.

GrandCottage residences have access to all the amenities within Tollefsen Village. A neighborhood pool and activities center is

located in the center of the cottage development, offering each resident convenient access and a source of communal gathering space.

Element 2 | Live | GrandLiving | GrandCottages

Project Description


Features of GrandCottage Living:

• Patio Homes include alcove, one, two and three bedroom floor plans with full kitchen

• Attached 1 and two car garages with storage and cart parking

• Accessible room designs for a variety of senior needs

• Vast choice of cottage locations and views

• Oversized bathrooms with tiled walk-in showers with seating bench

• Emergency call system in each room

• Individual unit climate control

• Complete utility package available

• Full kitchens and service bar w/granite countertops and top brand appliances

• Flat screen televisions with cable and wireless internet services included in utility package

• Ample storage within home and additional storage within garage

• Smooth transition flooring materials and non-slip surfaces to reduce tripping

• Experienced staff on hand 24 hours a day/7 days a week

• Shuttle services to and from medical appointments, airport, shopping, arts, and outside activities

• 24 hour security controlled gated access

• Special dietary accommodations

• 24 hr room service availability

• Full access to all amenities contained within Tollefsen Village

• Variety of convenience packages that allow each resident to choose the perfect package to accommodate each living style and budget

• Common sidewalks and cart trails adjoin the resort through security gates

• IT support included with each cottage, with special training classes available

• LEED certified Energy Efficient Homes

• Community pool within seconds of front door.

• Activities Lodge for all seniors to enjoy, with exercise room, card room and gathering room

• Heavy landscaping and maintained by Tollefsen Village

• All cottages face or have easy access to the beautifully maintained golf course

Element 2 | Live | GrandLiving | GrandCottages (cont’d)

Project Description


There is nothing quite like a friendly, beautiful, safe and romantic hotel to come home to at the end of a great day.

Beautiful French inuence from the early days mixed with modern Michigan style.

Check out the Snowake Suite to see one of the most beautiful snow scenes in Michigan, while you warm yourself by the bedroom replace. Slip into the nice “All Season” indoor swimming pool.

Dine in the Salt and Light room lled with special crystal and romantic lighting that make the total room glisten.

Dance the night away in the Great Lakes Ballroom that gleams with rushing river fountains, smooth sand-colored silk curtains that all together forms a wonderful backdrop for any event or special occasion.

Snuggle into the best linens, pillows and custom comforters to get a wonderful night’s rest. In the morning let us bring you Tollefsen Prairie coffee and select breakfast items, served with a smile and warmth of a staff who cares.

Element 3 | Hotel | Tollefsen Bloomfield

Components Specs

Metro Business Hotel 200 Rooms

Retail 7,500SF

Restaurants 2 Units

Luxury Living 30 Units

Luxury Hotel 300 Rooms

Retail 100,000SF

Restaurants 3 Units

Luxury Living 30 Units

Resort Hotel 120 Rooms

Retail 5,000SF

Restaurants 1 Unit

TOTALS 620 Rooms


Project Description


PassionPlace is the business heart to Tollefsen Village. For Tollefsen CommUnities and Formaation, our business is our passion, for most other people it should be the same. With 185,000SF of PassionPlaces, Tollefsen Village will have a relaxed business presence. Each PassionPlace (business ofce) will be offered to companies seeking to own their own style, or to investors wishing to lease to the businesses of the area. Ranging in size from 2,000 to 60,000SF, the PassionPlace space is designed to accommodate the area’s small business demand.

Each PassionPlace has its own specic design to delineate each business from the others, and dedicated parking sized to t each companies need.

All ofces will be design and constructed to LEED standards and equipped with geothermal HVAC, solar panels, LED lighting, energy efcient glass, and sustainable materials. LEED standard buildings will offer a utility cost that is 60% less than conventional utility use.

Costar rates LEED certied buildings as being able to drive$11.20 more per SF than traditional buildings.

Element 4 | Work | Passion Places

Element 4 | Work SpecsElement 4 | Work Specs

Buildings Containing Ofce Space

A, B, C, F, G, L, P

Total Square Footage 185,089

Location Throughout Tollefsen Village

Services Businesses receive full benets of ConciergeCare, Employees can be a part of 24 hr Medical Clinic, Dedicated Parking

Estimated Lease Rates

< $20.00

Project Description


From Steakhouses to sushi bars, cafes to bistros, formal dining and burger’s—the Village has you covered.

Enjoy local avor or national brands. Breakfast, lunch and dinner all in one place.

Quick foods, lingering formal dining, pastries. Milkshakes and malts....sounds good! MMM..MMM Good!

Element 5 | Play | Dining

Element 5 | Dining SpecsElement 5 | Dining Specs

Total 38

Total Square Footage 234,505


Services Special Events, Dine In, Carry Out, Delivery in concert with ConciergeCare

Architecture Customer Specic

Project Description


Time to relax and play? Nightlife in a Tollefsen CommUnity is lled with options.

Wonderful places to dine. Romantic and quiet dinner, or how about family style dinner with ice cream? An evening stroll to window shop with an after dinner cappuccino. Hear the music wafting through the trees? Time for a concert in the park. Top off your night with a glass of wine or a late snack.

Live entertainment performed by Imaagine performers all year long.

Element 5 | Play | NightLife

Element 5 | NightLife SpecsElement 5 | NightLife Specs

Multiple Venues Music, Theatre, Dining, Movies, Dance Clubs, Bowling

Unique Venues TollefsenLive


Services Special Events, Advanced Tickets through ConciergeCare


Project Description


Tucked deep inside the Village is a very cool place to be. Here you will experience early Detroit architecture, hidden bohemian shopping, little cafes, stylish yet edgy bars.

Its a place to get into and enjoy your night. Hear the jazz and Motown sounds rising out of the unique clubs and bistros. Feel the rhythm of the New Detroit.

You can drive your Harley, ‘Vette, ‘Stang or old Hemi right on in. This is place of diversity, unlimited curiosity, fun, and of course, great safety.

But, it will take a little effort to nd out where it is, ‘cause its not for the un-initiated.

Element 5 | Alley District SpecsElement 5 | Alley District Specs

Multiple Venues Live Music, Theatre, Dining, Dance Clubs,

Unique Venues TollefsenLive

Location Along single avenue in Tollefsen Village

Services Advanced Tickets through ConciergeCare, Pedestrian Trafc Only


Element 5 | Play | Alley District

Project Description


TollefsenLive is the energy that drives the entertainment district of the neighborhood. TollefsenLive serves two purposes—depending on the time of day.

First, it serves as a unique venue for nightly entertainment that will host bands, small plays, national speakers, comedy acts, etc. It is an area that will be surrounded by restaurants and clubs. The latest in technological advances will be used to stimulate the senses for an unforgettable experience.

Second, TollefsenLive is a community center featuring a wide array of possibilities for public and private use. From morning radio shows broadcasting locally to daily live telecasts, TollefsenLive will always be the front runner for local information regarding the city and the Tollefsen CommUnities. As an inexpensive venue available to the community, TollefsenLive can be used to host gatherings, fund-

raisers, company luncheons, wedding receptions, trade-shows, and conferences in a unique surrounding which can be considered an outside venue, and is designed to offer divisions within the area to host multiple small events.

Element 5 | Play | TollefsenLive

Project Description


During the day and early evening the focus of Tollefsen Village is the retail center. It will have a base of 465,000 total square feet, with limitless congurations based on expandable oor plates. The Tollefsen Village Retail Center will be focused on bringing multiple destination style shops to a single location as well as residential support businesses. The businesses can purchase or rent their respective spaces. Destination shops are those “Unique Boutiques” which customers will seek out regardless of their location. Bridal Salons, modern furniture showrooms, culinary and specialty gift shops, custom design studios, art galleries will all nd a home and thrive here. Residential support will be critical to Tollefsen Village as well with over 5,000 people living and working within the community. Beauty salons, day spas, dry cleaner, liquor store and specialty markets are a must.

Tollefsen Village is made to be a destination for not just the area, but for all of Michigan. With Tollefsen CommUnities

understanding the demographics and how to address the demographics which Tollefsen Village serves, it is sure to be a success

The incentives Tollefsen CommUnities/Formaation uses to nance the project offers the retailers a higher quality space at less cost.

Element 6 | Shop | Boutique to Co-op

Components Specs

Buildings with Retail SpaceA, B, C, D, E, F, G, I, J, K, L, M, N, O, P, Q

Amount of Space 465,096

Dedicated Parking Yes

Estimated Pre-Leased 69%

Est. Lease Rate per SF $18.50—$30.50

Est. Construction Cost for Mix-Use Buildings, Restaurant, & Office Space

$546,691.0


Project Description


The design of the facilities ensures longevity. The construction of the facility ensure energy efciency. The incentives, design, and efciencies ensure the retail component will be successful and offer a backbone to the vitality of Tollefsen Village.

All retail spaces will be built to LEED standards, though many retailers will not see the difference in the building style, or operation. However, with the utility bills being as much as 60% less, it will speak volumes in the bottom line for these “Unique Boutiques.”

Another concern for mixed-use developments, especially for retailers, is the simple task of parking competition among consumers, residents, and employees. Tollefsen Communities/Formaation will work with Gensler, and M+A Architects to correct this and allow for convenient parking in an aesthetic structure or underground. The entire development will rely on these parking structures which conveniently connects all of Tollefsen Village. All street parking will be reserved for retail and restaurant customers. Retail owners, employees, professional services,

and residents will be required to park in their designated areas.

Customers will be able to use the structured parking spaces during inclimate weather and overow. All deliveries and other services will take place in designated areas within the structured parking areas to prevent trucks from blocking the streets and keep Tollefsen Village free of congestion. Though most parking will be restricted to structured parking, these parking structure will be designed for maximum use of natural light with small pocket parks to allow a sense of unity.

Sidewalks and streets throughout Tollefsen Village will offer a snow melt system. By running heated water through the concrete of the sidewalks and under the “reclaimed Detroit” brick of the streets, Tollefsen Village will remain “open, convenient and safe” for its residents, shoppers and visitors, regardless of weather conditions.

Element 6 | Shop | Boutique to Co-op (cont.’d)

Project Description


An important part of the success of the Tollefsen Village neighborhood is the local market. The market will be available to residents 24/7, hence the name. The store will sell all the necessities, but have a niche with local organic fruits, vegetables and florals as well as specialty foods and top quality meats. 24 Market will be linked to the ConciergeCare Service, allowing email orders for pick-up and delivery to all customers within Tollefsen Village. The concierge service will be a special amenity for the neighborhood, especially the empty-nesters, who often time have difficulty carrying their groceries to their home.

Though the market will be operated on a contractual basis, 24 Market will be owned and subsidized by the HOA, as it is a vital component to a vivacious neighborhood. Part of the 24 Market will be the pharmacy, offering medicines around the clock to support the Tollefsen Village/Graace medical Clinic.

Element 6 | Shop | 24 Market

Element 6 | 24 Market Specs Element 6 | 24 Market Specs

Services In store and On-line Shopping

Operations Ran as non-profit and supported by HOA

Goods Groceries, Fresh Market Produce and Meat, Limited Brands, complete range of Items

Medical 24 Hour Pharmacy to Support 24 Hr Clinic

Assistance 24 Hour Delivery Service

Security 24 hr Link to ConciergeCare

Project Description


TollefsenArts is impossible to define as it is as limitless as the imagination.

Imagine being able to work out issues that trouble you through the arts. Using drama to be able to “try out” any life style or “try on” any character trait. Using dance to feel freedom, happiness, or expressing yourself without using your voice. Using music to get into the rhythm of life or the beat of your heart. Creating your world using design and art.

Imagine being with a group of people that are imagining too. Where you are not too big or too small, where you are not too pretty or not pretty enough. Where you are not too weak or too strong. You dance just right—but want to improve your technique. You sing just right—but need to be a little more in tune. You can paint, design, and create—but you need to use a little more color. You imagine taking the next step and helping others take the next step. Imagine being the very best at what you do. See yourself being expressive using your full potential. Imagine displaying all the beauty inside you for others to see and imagine feeling confident your expression makes a difference

Our staff imagines you being connected with us. We know that there is only one you and no two people can ever be the same. We imagine assisting you in developing your uniqueness to its full potential. We imagine you being elevated to your dreams.

TollefsenArts is a venue in which kids of all ages can come and express themselves in any form they wish. Art, Film, literature, music, Dance, makeup, fashion, television, Audio, computer graphics, website design, media, or their own personal expression. It all can be explored and mentored through Imaagine. It is a collection of spaces which allow you to be you, to be expressive, to get in touch with yourself and gain confidence in areas which you normally wouldn’t receive.

TollefsenArts offers a place for young boys and girls who normally don’t get the attention they deserve to come and do just that, be recognized for who they are within.

Imagine that.

Element 7 | Sports+Arts | Arts

Project Description


TollefsenSports, the ultimate amateur sports venue, is geared to the young and young at heart to develop minds, bodies, and spirits not just athletes. It is about sportsmanship and character, healthy competition and to be able to learn, improve, and grow from others.

Like Tollefsen Arts, it is about giving those who participate the ability to express themselves and to discover who they truly are. Though it is true that all TollefsenSports participants are winners within for participating, It’s is not about providing everyone a trophy—it is about learning from loss, because as in life, losses come just like wins. It is about setting obtainable goals and working hard to reach them. TollefsenSports teaches young athletes to be disciplined, gracious, self reliant, responsible, polite, and to work well with others.

TollefsenSports is a collection of the world’s best amateur sport venues located in one area. From Basketball to X-Games, we covers it all—including Band and Cheer. TollefsenSports will have leagues for all ages

and skill levels. It is the venue that can hosts the largest or smallest tournaments. TollefsenSports is geared to attract the parents , teams, and coaches from the surrounding areas because of the excellent facilities, affordable hotel geared especially to teams, and the proximity to TollefsenVillage.

For each sport, the TollefsenSports will have numerous practice and game facilities, and a small stadium for tournament finals and special events. Tollefsen CommUnities will provide special transportation services to enable parents, kids and coaches easy access around the facilities—including Diggs Hotel and TollefsenTown Sports Village—and to and from Tollefsen Village.

Diggs Hotel is a 100 Team Hotel with 200 coaches and chaperone rooms. The Diggs is geared toward fun, responsibility and affordability. Mobile bunk bends, re-sizable rooms lets it fit everyone and their budget.

Element 7 | Sports+Arts | Sports

Project Description


Element 7 | Sports+Arts | Arts Details

reservation, a room or suite of rooms will be set up to accommodate all. At check in, each team members will be given a duffle, inside sheets, towels, toiletries, and a complete guide to TollefsenSports—including passes to the water park, shuttle service routes and times—and their TollefsenSports ID card to allow them access and star athlete treatment.

Part of TollefsenSports is TollefsenTown, a retail, restaurant, entertainment venue geared to support TollefsenSports+Arts. Restaurants will be family oriented for fun, atmosphere, and affordability. Shops will be geared toward athletes and the arts.

Entertainment venues for Imagineers to perform and hold exhibits to showcase their work, and alcohol free dance clubs for all ages dedicated to the visitors of TollefsenSports and TollefsenArts.

TollefsenSports+Arts, above all, will be safe. It will have 24 hr security, gated and patrolled access, and linked to ConciergeCare. TollefsenSports is to be enjoyed by all without fear for safety.

Project Description


Tollefsen Village will offer unparalleled medical service. Because the owner of Tollefsen Village will be Graace Charity Inc., a 501-(3)(c) public charity, whose mission is to provide superior healthcare to all, Tollefsen Village will be able to house a state-of the art clinic with a new mindset of operation.

Through HOA fees, Residents are automatic members of the clinics healthcare provisions and will receive preferential appointment times automatically blocked out daily. Business Employees, Renters and other locals who may not be a resident of Tollefsen Village may still join the medical clinic by a low monthly fee and a small per visit charge (much like a co-pay). The clinic will be open 24/7 to allow employees within the service industry access without missing work. With dental and optometry services and having extended hours, people within the Tollefsen Village can count on preventative medical services.

Hotel guests as part of their room charge will have the same access as a Resident and will

be buzzed when the doctor is available to see them.

A guest of Tollefsen Village who forgot his glasses, or twists their ankle while dancing... no problem in Tollefsen Village, hit the papoose and all will be made better.

Note: Eighty-five percent of all medical cases are routine family practice visits which include cases of colds, rashes, sprains, abrasions, prescription renewals, etc. Graace Clinic will cover all of these issues. For serious illnesses which the clinic cannot treat, patients would need to rely on a catastrophic policy which can be purchased through Tollefsen Village or an independent provider. The patient can be treated at one of the Graace Hospitals or other facility. Current quotes on the supplemental policy are approx. $110.00 per month and you cannot be turned down regardless of age or medical history.

Element 8 | Health+Safety | HealthCare

Project Description


ConciergeCare is the ultimate service and convenience package, exclusive to Tollefsen Village, connecting you 24 hours a day to every aspect of Tollefsen Village through your iPhone. Through the Tollefsen Village ConciergeCare, all residents, business owners and visitors are just a finger tap away from services anywhere within the Tollefsen Village community.

Residents and visitors will browse the various stores and businesses, setting up reservations, meetings, and appointments as well as shopping on-line like never before.

Hotel Guests can receive their download for the Tollefsen Village App in advance of their arrival. When they touch down press the icon to speak with the car service announcing their arrival. If driving, touch the icon as the lights of Tollefsen Village are in your view and your bellman will be awaiting your arrival at the curb ready to greet you by name and have your room ready. Simply sign the hosts iPad as he

familiarizes you with the room, and the check-in is done. Out of town guest will have access to each Tollefsen Village restaurant and make reservations before their arrival. They can set up appointments with the stores for private showings, or

Element 8 | ConciergeCare Specs Element 8 | ConciergeCare Specs

Retail On-line Shopping and delivery Services

Restaurant Reservations, Availability Alerts, Take-out or Delivery

Office Appointments detail of Services

Medical Appointments & Emergency Services

Activities Show Dates & Times, Tickets,

Security 24 hr Access and GPS Location

Element 8 | Health+Safety | ConciergeCare

Project Description


arrange appointments with any number of professionals in the Tollefsen Village development.

Business Owners will be in constant connection with their consumers. Reservations, appointments, orders all on line with a touch of the button. Shops can have delivery service within Tollefsen Village added to their services simply by offering ConciergeCare free of charge.

Business Employees will have access to many of the same services much like the Residents. All they need is a credit card on file. All businesses can enroll their employees in the Tollefsen Village Medical Program. Medical absence times can be cut in half due to paging service supplied by ConciergeCare. Nightly Deposits can be escorted by armed security to on-site banks with the touch of a button. Even a store clerk, left alone and uncomfortable due to undesirables within store, press the icon and a security agent can pop in until the comfort level is back. Locking up late is no longer a worry either.

All services billed to your credit card through your iPhone, simply “bump” your iPhone to the delivery assistant and the transaction is made.

Residents will have full service which will provide them 24/7 access to personal assistant for all their needs and delivery service for groceries, medicine, dry cleaning, liquor store, poolside lunch, or shopping. The service can also provide reservations, car/airport shuttle service, tickets, shopping, not to mention security.

Residents who need assistance with changing a hard to reach light bulb or

carrying in a Christmas tree can tap the building icon to call the maintenance and they will be at your aid quickly, and yes, 24/7.

Set up appointments with the on-site medical clinic, and sign in all with a tap of the iPhone. You will be buzzed when the Doctor is ready to see you—no more sitting in the waiting room. Once again, tap your iPhone and have your prescription filled and delivered to your door, all at your convenience...all at your fingertips.

Element 8 | Health+Safety | ConciergeCare (cont.’d)

24 Market

Project Description


The Security System works through the GPS. In the event of an emergency, or simply a late night noise your wife hears while you are away on business, press the papoose and a medically trained security agent will talk to you, while yet another is dispatched to your location within minutes. Should you not be in your home, the GPS within the phone will tell the agents your exact location (even if your battery goes dead after the call was made) and be able to reach you within minutes.

ConciergeCare can be hooked into your home security, allowing you to view your homes security cameras or Tollefsen Village Street View security cameras while you are away, or as you are arriving back to your home in Tollefsen Village.

Element 8 | Health+Safety | SafeZone

[ End of Section ]

Project Description

Confidential | 46

Confidential | Business Operations | 47

This sec(on describes in summary the way the business operates.

Business Operations


OversightTollefsen, LLC is the developer providing the direction and coordination with the various active participants—architects, contractors, city officials, hotel management, and others involved in the project.

Planning of any Tollefsen CommUnity is performed at the Tollefsen Headquarters and 90% of the work is implemented by local businesses.

A primary focus will be on oversight of the planning and maintaining the quality control over all elements of the construction progress. Financial controls are implemented to monitor the budget vs.

actual expenditures to bring the project in for the amount planned.

Organization and Project ConstructionTollefsen will oversee the project’s development while contracting out its major components to experienced, bondable contractors. Tollefsen will make sure the creative vision is brought to reality, while at the same time, overseeing construction companies to insure the budget is met. An independent finance/accounting/auditing firm and Tollefsen are used to insure responsible fiscal management.

Business Operations


Excellence, Accountability+TransparencyTollefsen and anyone working with Tollefsen will pursue excellence and innovation. Transparency is required of all. Tollefsen has a “no tolerance” policy for businesses and/or associates that go outside these parameters. This policy will be detailed to each participant and an agreement executed prior to them joining the Tollefsen team.

Should an infraction occur and not be adequately explained, the associate or outside business will not be allowed to continue.

Community LeadersPrior to development, Tollefsen will connect with local civic leaders. While the overall plan is formed by Tollefsen, LLC, the overall objective is to make each project unique and indigenous.

For each Tollefsen project, a Community Director will be selected to serve as spokesperson and project leader. The responsibility to develop and supervise each community is the director’s responsibility.

All Tollefsen Communities will require political help and social direction. For example, if an area is struggling with crime, the Tollefsen CommUnity will focus on its safety and security aspects and will demonstrate how it will assist with additional police officers and alternative programs. If the area has a soaring unemployment rate, Tollefsen will focus its attention to the creation of long term jobs and affordable housing.

Pursue excellence + innovation

No tolerance policy for businesses who do not adhere to the standards set forth by Tollefsen

Each city has a CommUnity Director

Tollefsen focuses on job creation and building places of hope

Business Operations


Construction

Each Tollefsen CommUnity has a Master Contractor to oversee construction as well as maintain budgets and schedules. The Master Contractor will be contracted with a CMAR (Construction Manager at Risk) Contract. A CMAR contract ensures the budget will be maintained without risk to Tollefsen. The Master Contractor will be contracted on a sliding pay scale which will reward the use of small businesses and contractors. It is our plan to provide smaller contractors with an opportunity they would otherwise not have.

In order to achieve this, monies will be set aside as well as educational service provided to all contractors interested in working on the project. They will be provided instruction by CPA’s to establish accounting practices and current financial statements. The interested contractors will be assisted with contracts, cash flow, insurance and bonding.

Those contractors without the bonding capability will be assisted to obtain the necessary performance bonds.

All contractors are required to meet minimal requirements including all necessary insurance, updated tax records and credit reporting.

Contractors will not be selected solely on price and experience, but on ability. Tollefsen, LLC understands that quality is important and observes that true artisans are generally within the smaller companies.

All contractors, sub-contractors and consultants shall be responsible for paying wages as established within the Davis Bacon Act outlining the particular area. All employees must be legal citizens or provide work visas and/or green cards. All employees must adhere to codes and conduct as will be outlined within the Master Contractors Contract.

Tollefsen will make sure the creative vision is brought to reality, while at the same time, the construction companies will make sure the budget is met. An independent finance/accounting/ auditing firm and Tollefsen will insure responsible fiscal management.

Master Contractor with CMAR

Small Business priority

High level of quality expected of contractors

Adherence to the Davis Bacon Act

Creative vision brought to reality

Business Operations


Financial

Tollefsen ProfitsWe use a somewhat unique model for our profits. We charge 10% on any project we develop. For example if a building all in costs are $100MM we would charge a 10% fee or $10MM thus making the project cost $110MM. We understand that most development fees range from 15-30%. However to accomplish our social mission we hold ours at 10%. This savings is passed along to our customers.

Use of IncentivesWe combine all available incentives to produce more value for those living in a Tollefsen CommUnity. We have used all kinds of government and charitable contributions and understand not only how they work but what they are intended to provide for citizens. When incentives lower the cost we pass this savings along. We are happy to provide any kind of reporting requested to insure the use of incentives are consistent with the plan and intended use.

Sales & MarketingLeasing and Sales will be done internally and in concert with real estate, public relations, advertising agencies, non-profit organizations and volunteers.

A special focus will be the non-working, stay-at-home parent. Much of the community outreach and project education can be accomplished during a 9-2:30 schedule enabling them to be stay at home, within the Tollefsen Community, yet earn income.

Due to the value pricing of each Tollefsen community, it is expected that demand will outstrip supply. In those projects which demand is heavy, a fair lottery system will be used. This insures fair and equal opportunity across all Americans. Careful race and age distribution will be monitored to insure all have equal and fair opportunity.

Development fee limited to 10%

Combine incentives to lower cost for end users

Value pricing+location=high demand

Business Operations

Confidential | 52

Business Operations

Confidential | 53

Chuck TollefsenPresident/Founder

Pamela RosenbaumCommUnites Director

David OberleProjects Director

Chris ShondelmyerResearch+Sustainability

Andy CohenExecutive Director, Gensler Architects

Bernard CarballoAdvisor

Former Seagate COO

Terry HortonAdvisor | Co-founder

DR Horton Homes

Steve MetcalfLegal Counsel | Partner

McCann, McDonald + Metcalf

Tollefsen Development TeamTollefsen has assembled the premier leaders in their respective field. Each member has been selected for their understanding and desire to promote the ideas set out by Tollefsen President, Chuck Tollefsen, and are committed to ensuring the Tollefsen Communities Project reaches success.

Summary biographies follow:

Business Operations

Confidential | 54

Chuck TollefsenPresident/FounderTollefsen LLC.

The project has been conceived and planned by Mr. Chuck Tollefsen. Mr. Tollefsen is a Tulsa based entrepreneur and through his firm Formaation (www.formaation.com) has developed varied companies the last 20 years. Formaation is currently constructing a 100,000SF $75MM oncology center in Tulsa. He has been active in Oil and Gas, Theme parks, Manufacturing, Restaurants, Real Estate, Software, Web Design and other business areas. While developing his software company, “Practix, Software for Healthcare”, they went public. He has done work with the Five Civilized Tribes and worked with many individual Native American Tribes in helping develop their economies. In Florida he planned and arranged a $110mm financing for a new technology that makes hydrogen fluoride that was later sold to Dupont. His firm recently completed the research, feasibility study and bank syndication plan, facilitating a $100mm Tulsa real estate development. His creative work spans from business branding to theme park design, including the master concept and planning of a $3b theme park . The art seen in Formaation’s web site and the sample client sites are his design. He created the Indiaan Pointe concept, art, design and web.

He was invited by the Irish Development Authority, Dublin, Ireland, to assist with the implementation of software development in concert with Trinity University for the country of Ireland. He received the Gold Achievement award from Junior Achievement national office. He is the past President of the Woolaroc Museum (established by Frank Phillips the founder of Phillips Petroleum Company), Bartlesville, Oklahoma, Tulsa board. Mr. Tollefsen also served as Gary Richardson’s Economic Advisor during his Oklahoma gubernatorial race.

Early in his career he graduated from the Neiman Marcus, Dallas, Texas, Executive Training Program. Mr. Tollefsen graduated from Westminster College, Fulton Missouri in 1977 with a degree in Psychology. He has 2 daughters 17 and 19 who are Cherokee Indian.

Tollefsen Founder

Entrepreneur for 25+ years

First company, medical software, he took Public

Invited by Irish Government to help establish Software Development in Ireland

Neiman Marcus Executive Training Program Graduate

Graduated Westminster College, Fulton Mo.

Business Operations



Confidential | 55

Pamela RosenbaumCommUnities Director

Pamela Rosenbaum-Thomas joined the Tollefsen Team in May of 2010 as Director of CommUnities. Graduating from the University of Michigan with her Master’s of Social Work, Pamela has been a catalyst for change.

Licensed for home studies and evaluations in four states, Pamela started her own court and community service group company, Visit Solution, in 1990.

In 1996 Pamela was appointed by the Governor of Oklahoma to the Post Adjudication Review Board, and in 1998 was also appointed to the Child Death Review Board.

Since 1996, she has been a certified foster parent and adoptive parent trainer in both Oklahoma and Florida, as well as being a certified instructor for the Department of Human Services for separation and anxiety disorders.

In 2003, she became a crisis call gatekeeper for Oklahoma insurance groups.

Pamela brings a wealth of knowledge in navigating local, state, and federal governmental systems.

Recently she has added a National Certification in Trauma in individuals and communities to broaden the social services of Tollefsen.

As an adoptive mother since 1993, her youngest daughter just graduated from high school.

Masters in Social Work University of Michigan

Court and Community Company Visit Solution she started

Separation and Anxiety disorder certified trainer

Certified trauma specialist

Government specialist

Great Mother

Business Operations

Confidential | 56

David OberleDirector, Design+Architecture

David has been involved in Real Estate development for the past 15 years. He has experience in Architecture, golf design and construction, land planning, Landscape Architecture, finance, and commercial design and construction. Prior to joining Formaation’s leadership team, David was the creator and owner of Progeny, LLC a Construction Company specializing in the construction of Residential Golf Course Development. With over 150 employees, David directly led scheduling, project cash-flow, architects and engineers, entitlements, contracts and governmental agencies.

David headed notable Golf construction/renovation projects such as The Ocean Course and Turtle Point on Kiawah Island, Pinehurst 2 & 7, Augusta National, TPC Sawgrass & Southwind, Golf Club of New England, Barton Creek, The Hills and Falls of Lakeway, River Oaks CC, The Pines and some 30+ other Golf & Golf Development Projects with single project values in excess of $150 Million and moving 2.5 million yards of dirt.

During this time he formed relationships with developers and architects such as Jack Nicklaus, Tom Fazio, Jim Fazio, Arnold Palmer, and Gary Player. David established a separate road, utility, and landscape division under Progeny to be a one-stop-shop for developers.

Developer services expanded into entitlements, planning, finance packages, budgets and pro-formas. This division further expanded into building residential, and commercial developments in Golf and Mixed Use, as well as unique projects such as Water Treatment Facilities and an Airport Expansion. David built Progeny to become the largest contractor in Texas using GPS guided Equipment with a fleet of over 25 GPS guided units.

David joined Formaation in July of 2009. David, his lovely wife Lucia live in Tulsa. He has three great sons; Jack (14), Paxton (13), and Alec (10). David graduated from the University of Arkansas School of Architecture in 1994.

15+ years Real Estate Development Experience and Development Construction Experience

Owner of Golf Resort Development Construction Company - Progeny

Golf Course Experience includes Augusta National, Pinehurst, TPC Sawgrass and others Resort Experience Kiawah Island, HorseshoeBay Resort, Escondido.

Implements and Directs Projects for Tollefsen

Architecture degree, University of Arkansas

Business Operations

Confidential | 57

Chris ShondelmyerResearch and Sustainability

Prior to joining our firm, Chris worked in a golf course design firm as a design apprentice and planner. During his tenure, Chris helped design four 18-hole championship golf courses, four private club restoration projects, and the master planning of 3 other sites. He was intimately involved in all phases of the design process from conceptual design through construction. His strengths lie and seeing the big-picture of what it takes to implement a project and developing solutions to complex issues.

When his company relocated, Chris took a position with a non-profit to develop and implement a donor development strategy. Having spent the last four years developing communication strategies and handling donor relationships, Chris is intimately aware that fast and responsive communication is a key component to an organization’s success.

He and his lovely bride of 7 years, Kelly, have two beautiful daughters, Bella (3.5 yrs.) and Lainy (2 yrs.). A fourth generation Oklahoman raised in the rural southwest part of the state, Chris graduated from Oklahoma City University in 2001 with degrees in Economics and Information Technology.

Chris directs our research and sustainability

Experience on all types of construction

Experienced in donor development

Married to Kelly with 2 small girls

Degree’s in Economics and Information Technology

Business Operations

Confidential | 58

Steven Metcalf, Esq.McCann, McDonald and Metcalf

General Counsel

Steven K. Metcalf is an accomplished lawyer with more than 18 years of experience successfully representing clients in all aspects of construction and real estate law and litigation. Whether in the day-to-day operation of the clients’ businesses, or the periodic instances in which some form of dispute resolution is involved, Mr. Metcalf serves as both a trusted advisor and top notch litigator. In his work with contractors, design professionals, owners, subcontractors, suppliers, sureties and developers, Mr. Metcalf has been active in state and federal trial courts in Oklahoma, Missouri and Arkansas, in arbitration and mediation throughout the midwest, and in state and federal appellate courts in Oklahoma, Texas, the Eighth Circuit and Tenth Circuit. Mr. Metcalf also serves as General Counsel for several clients, where he works in partnership with the clients to promptly and properly address the various business and legal issues that arise in the clients’ day-to-day operations.

Mr. Metcalf’s legal experience follows a successful ten year career in construction management where he was involved in managing projects exceeding $200 million in value. This unique blend of practical construction experience and legal expertise allows Mr. Metcalf to get right to work with the client to address the dispute or issue at hand, frequently preventing a problem before it occurs, but able to effectively and efficiency resolve it once it does.

Mr. Metcalf has first-chair experience in litigating, arbitrating, mediating Expert and negotiating all forms of construction disputes and construction contracts, including lien filing and foreclosure disputes, bid contests, code enforcement disputes, breach of contract and payment disputes, construction and design defect disputes, insurance-coverage claims, default and surety claims, payment and performance bond claims, and delay, acceleration and inefficiency claims.

In his role as General Counsel, Mr. Metcalf is a counselor and trusted advisor concerning any variety of legal, business and construction issues, including personnel issues, employment issues, contract drafting, interpretation, and negotiation issues, dispute and litigation management issues, code compliance issues, OSHA issues, construction, development and financing under state and federal government statutes and regulations, and a variety of other subjects.

Mr. Metcalf lead the legal team to our recent $22MM bond with the City of Tulsa. He completed the bond start to finish in 21 days the fastest in the US.

General and Construction Counsel

Extensive 18+ years of Law Practice

Specializes in Development Law Contractor Disputes

10+ years in Construction Management

Construction Contract Expert

Founding Member of His firm

www.mmmsk.com

Business Operations

http://www.mmmsk.com

http://www.mmmsk.com

Confidential | 59

Advisor | Bernie CarballoBusiness Management & Operations

Based in Florida in the United States, Bernie served as Seagate Technology Inc’s NYSE: STX executive vice-president responsible for global sales and marketing from 1991 to 2000. Seagate is the largest hard drive company in the world, with 100,000 employees in 28 countries and sales of $1.9 billion per quarter. He then established his own consulting practice and currently provides professional services to Seagate and serves as a director on the boards of several other high technology companies in the US.

During more than 15 years at Seagate Bernie personally spearheaded the company’s entry into the Asian & South African market and played a major role in helping to establish Seagate disk drives as the brand of choice among the country’s leading desktop and server manufacturers. In addition, he is on the Board of Directors and a majority Shareholder in Innovida based in Miami. Innovida, a billion dollar company, works with various poverty stricken countries to build affordable housing and Bernie is the Mid-Eastern strategist.

Through a personal commitment to the country as well as customers throughout southern Africa, he continues to work tirelessly with carefully selected South African companies to provide international access to leading edge products, solutions and skills development resources. He is the majority Shareholder and Co-Founder of a data company located in Johannesburg, South Africa which has sales of 400 million rand per year.

Bernie and his wife Silvia live in Jupiter, Florida with their dogs “BeeBee” and “CeeCee.” Bernie has two children and two grandchildren.

Former Executive VP of Seagate Technologies

Seagate is the largest hard drive mfg. in the world

Board Member and majority shareholder of Innovida....which builds affordable homes in impoverished countries

Business Operations

Confidential | 60

Advisor | Andy Cohen

Executive Architect

Andy Cohen is a champion of design excellence at Gensler, and a mentor to the design leadership of their practices and offices. As an Executive Director, he oversees initiatives related to design, client development and strategic growth. He's also the Regional Managing Principal for the Southwest, including Gensler offices in Denver, Las Vegas, Los Angeles, Newport Beach, Phoenix and San Diego. In that role, he helped build Gensler's airport, entertainment, hospitality and mixed-use practices.

An architect, he is a graduate of Pratt Institute and Fellow of the American Institute of Architects.

Gensler uses a collaborative model of senior leadership. Their Board of Directors sets overall strategy and policy. Executive Directors Andy Cohen, David Gensler and Diane Hoskins run the firm, working with and through our Management Committee. Together, they direct and integrate our practices, offices, and design and delivery teams to serve our clients effectively on a global, 24/7 basis.

To see to Andy and other Gensler Executive Directors click:http://www.youtube.com/watch?v=yFEsxjmX6AA

Executive Director Worldwide

Gensler Architects

www.gensler.com

Business Operations

http://www.youtube.com/watch?v=yFEsxjmX6AA

http://www.youtube.com/watch?v=yFEsxjmX6AA

http://www.gensler.com

http://www.gensler.com

Confidential | 61

Advisor | Terry HortonReal Estate and Housing

Terry Horton co-founded D.R. Horton, Inc. in 1978 with his brother, Don Horton. D.R. Horton, Inc. achieved positive cash flow in the first four months and delivered 117 homes with a $2.8 million net profit in the first year. In 2006, D.R. Horton closed over 250,000 homes and generated in excess of $13 billion in revenue. Terry served as President of the DFW Division from 1981-2000 and was a member of the Board of Directors from 1992-2002.

In 2001, Terry and his son, Trent, formed Horton Capital Partners, LLC. The partnership has been involved with several projects from Texas to Florida to Hawaii. Notably, in 2005, the partnership invested $1.2 million to assemble 1,700 acres in the town of McKinney, one of the fastest growing communities in Texas. The partnership planned, engineered, and entitled 4,500 units. The property sold in 2007 for $16.8 million. In 2006, the corporation became a financial partner in the luxurious Texas Hill Country community of Escondido. Escondido has been recognized as the best selling golf course community in Texas and was awarded the best new course in Texas by The Dallas Morning News. Additionally, Golf Week named Escondido among the top 100 Best Residential Golf Courses in 2010, nationwide.

Key to Terry’s success is involvement in the cost aspect of business ventures. He has been profitable on every home under his management and subsequently every business endeavor he has undertaken. His in-depth understanding of the cost side of each business is the foundation for strategic business plans that yield profitable results.

Prior to entering the homebuilding industry, Terry built and operated the Medicare Pharmacy in his hometown of Marshall, Arkansas from 1974-1978. He borrowed 100% of the funds to build, accessorize, and stock the pharmacy. The business was profitable in six months; and, all debt was paid off in eighteen months.

Terry obtained a Doctor of Pharmacy degree from the University of Oklahoma in 1973. He also attended the University of Central Arkansas from 1967-1969.

Mr. Horton is currently an owner of Endeavor Wall Homes, Inc. and serves on the Board of Directors for the World Evangelism Fellowship, a group that is involved in water well development in third world countries. Additionally, he is involved in the President’s Council of “A Defining Moment” which helps with AIDS education and treatment in Sub-Saharan Africa. He formerly served on the Board of Governors for The Vaquero Club (2002-2005) and on the International Mission Board (1988 – 1996). Terry became an ordained Southern Baptist Deacon in 1978.

Co-founded D.R. Horton homes with his brother

Largest homebuilder in US

Understands the costing of home building

Registered Pharmacist

Active as a deacon in his church

www.drhorton.com

[ End of Section ]

Business Operations

http://www.dhhorton.com

http://www.dhhorton.com

Confidential | 62

Confidential | Research Methods | 63

Methods Used by Tollefsen, LLC

This section described the methodology used by Tollefsen, LLC to determine the size and scope of the project.

Research Methods


Feasibility: MethodTollefsen uses a strategic method of planning to determine the feasibility of a project. In summary, the strategic method employed by Tollefsen is a hypothesis testing model. Under this method, a hypothesis is first established for the project.

As research is conducted, the null hypothesis is tested. For example, if the first broad hypothesis is “X Project can be expanded,” the null hypothesis is “X Project cannot be expanded.”

This process continues more into specific aspects. For example, after calculating the capital requirements necessary for project, the hypothesis may be “X Debt Structure can be reasonably supported if income levels do not reach expectations”; the null hypothesis is “X Debt structure is unworkable.”

If the null hypothesis is supported during any portion of the project planning, creative alternatives are presented and tested again until one of the following determinations is made: (a) all foreseen obstacles have been removed; (b) the project cannot be completed as initially planned but can be successfully revised; or (c) the project cannot be accomplished.

Tollefsen’s Strategic Planning Method Employs Hypothesis Testing Model

Research Conducted by Testing Null Hypothesis, Working form General to Specific

If Null Hypothesis is Supported, Alternatives are Created & Examined, then Feasibility Determined

Research Methods


Feasibility AreasThese are the 3 areas of feasibility analyzed:

• Overall Business Feasibility

• Project Specific Feasibility

• Litigation and Other Material Issues

Overall Business FeasibilityThe broad main overall business hypotheses tested for projects are as follows:

1. ProjectThere is an opportunity environment for the project.

2. EnvironmentThe environment is accepted by the customer and they are satisfied.

3. CompetitionCompetition will always exist, does the community have the opportunity to capture a market share significant enough to support its growth, development, and viability in the marketplace.

4. ManagementEach community will have the management with sufficient experience to successfully complete each stage of the project.

5. Adherence to StandardsThe community adheres to practical principles of business. For example, sample areas examined include the practice of fiscal discipline, valuing the contributions of associates, the ability to delegate responsibility and recognize limitations, and willingness to consult experts when appropriate.

6. Long Term CommitmentThe community is committed to the project and its expectations are realistic and achievable.

7. External RelationshipsRelationships are in good order, and past commitments have been met.

8. Reasonable LiabilityThe design and structure of the project has reasonable liability to all parties involved.

9. Litigation & Other ProblemsDiscover if any litigation and/or other disputes or problems are present.

Research Methods


Project Specific FeasibilityFeasibility factors examined and evaluated were specific to this project:

1. Contractors Company's ability to obtain excellent contractors;

2. Technology ImplementationProject's ability to use proven standard technology to accommodate its business;

3. MarketThe market in general, and the opportunity for Tollefsen Village to penetrate this market;

4. SalesAdequate absorption of the properties;

5. Sales AvenuesProbability of sales being generated through existing networks and realtors;

6. Construction QualityProduct quality in comparison to price and competitors;

7. PricingCompetitive prices relative to the market;

8. ManagementExisting Management's ability to conduct the development and ongoing aspects of the business, as well as their willingness to use additional experts to insure all management and control functions are covered; and

9. Financial ObligationsEstablishment of an overall plan of financing which balances equity, debt, and ability to perform on obligations incurred.

Project Specific Feasibility...

Products

Sales

Construction

Financial Obligations

Management

Market

Research Methods


Litigation & Other Material Issues

1. Tollefsen does not render legal advice whatsoever nor does it consider itself to be sophisticated in legal matters. At the time of this writing there are no lawsuits or pending litigation against Tollefsen, LLC.

2. ConclusionThrough investigation of the Community while preparing this Comprehensive Business Plan, it is the conclusion of research that Tollefsen Communities has a viable business, product, and customers.

3. Each Tollefsen Community has options and contingency plans, has a well researched project, experienced management, and is flexible to change as the market dictates.

No Legal Issues

Challenges:

Maintain & Further Develop Their New Market

Tollefsen has thought through Its options, has a proven track record, experienced mgmt. & is flexible to change

[ End of Section ]

Research Methods

Confidential | 68

Confidential | Financial | 69

Projections and Costs

Explanation of ContentsThe following covers the projected Operating Income (Loss) and the Costs to build the Village by building number or Element.

Operating Income (Loss)This projection assumes conservative occupancy/absorption rates. No debt service, depreciation/amortization or tax was projected to show the Operating Income generated each year. A Projected Income Statement, Cash Flow Statement and Balance Sheet will be prepared once the structure is in place. Income is based upon the cash method of accounting assuming no accounts receivables.

CostsThe Cost Summary and Operating Income for each Building/Element is included. Costs were based upon prevailing rates and verified by Flintco Construction, Tulsa Oklahoma and Gensler Architects, Los Angeles, California. Flintco is the 19th largest construction company in the US and Gensler is the largest architecture firm in the world. The experience of Tollefsen, LLC was used as well.

Financial


Operating Income Statement: 5 Year Projection

Following Construction Years 1 2 3 4 5

Elements Occupancy

Retail 64% 80% 85% 90% 90%Lofts 58% 80% 90% 95% 95%Hotels/Resort 43% 50% 55% 55% 55%Grand Living 58% 70% 80% 90% 95%Brownstones 100% 58% 70% 75% 85% 90%

Assume (In $Thousands)

Built Cost 1,249,850

IncomeRetail 18,305 11,785 14,644 15,559 16,474 16,474 Lofts 7,231 4,186 5,785 6,508 6,870 6,870 Hotels/Resort 56,961 24,485 28,480 31,328 31,328 31,328 Grand Living 2,686 1,555 1,880 2,149 2,417 2,552 Brownstones 5,000 2,895 3,500 3,750 4,250 4,500 Total Income 90,182 44,906 54,289 59,294 61,339 61,724

Expense

VariableAdvertising 2,000 2,000 1,000 1,000 1,000 Legal+Professional 100 100 100 100 100 Security+Support 1,500 1,500 1,500 1,500 1,500 Hotel Mgmt. Contract 25.0% 6,121 7,120 7,832 7,832 7,832 Mgmt. Contract 3.0% 1,347 1,629 1,779 1,840 1,852 Holiday Decorating 750 750 750 750 750 R/E Commissions 3.20% 1,433 498 289 181 132 Maintenance 5.30% 2,380 2,877 3,143 3,251 3,271 Total: Variable 15,631 16,474 16,392 16,454 16,437 FixedInsurance Building 0.34% 4,249 4,249 4,249 4,249 4,249 Property Tax 1.20% 14,998 14,998 14,998 14,998 14,998 Repairs+Maint. 2.5 2.5 2.5 2.5 2.5Total Fixed 19,250 19,250 19,250 19,250 19,250 Total Op. Exp. 34,881 35,724 35,643 35,704 35,687

Op. Inc. (Loss)/EBITDA 10,024 18,565 23,651 25,635 26,037

This is the projected Summary Operating Income Statement for all Tollefsen Village Elements.

Financial


Buildings Location Map

Financial


Estimated Total Construction Costs

HARD%CONSTRUCTION%COSTSArea%/%Square%Footage% 4,621,174%%%%%%%%%%%%%%%%%%

Description TOTAL PERCENTAGE

2.0000 Existing+Conditions 198,602$+++++++++++++++++++ 0.019%

2.1000 Demolition 244,896$+++++++++++++++++++ 0.023%

2.0100 Erosion+/+Site+Control 119,443$+++++++++++++++++++ 0.011%

2.1000 Earthwork 15,732,007$+++++++++++++ 1.499%

2.4000 Special+Foundations+and+Load+Bearing+Elements 21,851,514$+++++++++++++ 2.082%

2.5000 Utilities 15,229,949$+++++++++++++ 1.451%

2.5900 Utility+Relocation 119,088$+++++++++++++++++++ 0.011%

2.6000 Paving+and+Surfacing 8,018,605$++++++++++++++++ 0.764%

2.9100 Landscaping 23,365,314$+++++++++++++ 2.226%

2.9500 Special+Amenities+and+Water+Features 21,797,215$+++++++++++++ 2.077%

2.9800 Transportation+Signaling+and+Control+Equip 2,053,452$++++++++++++++++ 0.196%

2.9900 Site+Drinage+and+Stormwater+Retention 4,500,000$++++++++++++++++ 0.429%

2.9950 Wetlands+/+Waterways 1,719,537$++++++++++++++++ 0.164%

3.0000 Concrete 18,860,195$+++++++++++++ 1.797%

3.4000 Precast+Concrete 96,579,057$+++++++++++++ 9.202%

3.5300 Miscellaneous+Concrete 1,702,420$++++++++++++++++ 0.162%

4.0000 Masonary 13,120,533$+++++++++++++ 1.250%

5.0000 Structural+Steel 41,948,019$+++++++++++++ 3.997%

5.0001 Composite+Structure 28,970,192$+++++++++++++ 2.760%

5.4000 ColdVFormed+Metal+Framing 8,841,035$++++++++++++++++ 0.842%

5.5000 Metal+Fabrications+/+Stairs+/+Rails 8,132,267$++++++++++++++++ 0.775%

6.0000 Rough+Carpentry 2,679,887$++++++++++++++++ 0.255%

6.2000 Finish+Carpentry+/Architectural+Woodwork 1,214,818$++++++++++++++++ 0.116%

7.1000 Dampproofing+and+Water+Proofing 6,510,572$++++++++++++++++ 0.620%

7.2000 Thermal+and+Moisture+Barriers 1,728,447$++++++++++++++++ 0.165%

7.3000 Roofing+/+Metal+wall+and+Roof+Panels 20,131,624$+++++++++++++ 1.918%

7.8000 Sealants+/+Fire+proofing 2,473,899$++++++++++++++++ 0.236%

7.9000 Roof+Paving+Systems 2,804,289$++++++++++++++++ 0.267%

8.0000 Exterior+/+Fire+Doors+and+Windows 16,519,434$+++++++++++++ 1.574%

8.9000 Overhead+Doors 1,076,161$++++++++++++++++ 0.103%

9.0500 Demountable+partitions 68,864,836$+++++++++++++ 6.561%

9.1000 Plaster+/+Interior+Metal+Framing+/+Gypsum+Wallboard 6,384,121$++++++++++++++++ 0.608%

9.2000 Interior+Composite+Walls 2,818,364$++++++++++++++++ 0.269%

9.3000 Finishes 6,880,444$++++++++++++++++ 0.656%

9.4000 Raised+Flooring+and+Finishes 62,092,900$+++++++++++++ 5.916%

9.5000 Sealed+Concrete+Floor+and+Finishes 2,539,124$++++++++++++++++ 0.242%

10.0000 Speacialties 3,316,115$++++++++++++++++ 0.316%

10.1000 Toilet+&+Accessories 14,358,834$+++++++++++++ 1.368%

10.8000 Postal+Boxes 417,860$+++++++++++++++++++ 0.040%

11.0000 Equipment 32,363,812$+++++++++++++ 3.083%

13.0000 Special+Construction 5,117,060$++++++++++++++++ 0.488%

14.1000 Conveying+Equipment+Elevators+Escalators 7,025,117$++++++++++++++++ 0.669%

15.3000 Fire+Supression 4,064,690$++++++++++++++++ 0.387%

15.4000 Plumbing 48,060,212$+++++++++++++ 4.579%

15.8000 Heating,+Ventalating+and+Air+Conditioning+(HVAC) 95,954,668$+++++++++++++ 9.142%

16.0000 Electrical 48,445,966$+++++++++++++ 4.616%

16.7100 Data+/+Communications/+Audio+visual 1,050,216$++++++++++++++++ 0.100%

16.8000 Fire+Alarm+/+Security+Systems 3,076,636$++++++++++++++++ 0.293%

SUBTOTAL 801,073,445$%%%%%%%%%%% 76.32%

7.50% Construction+Contingency 60,080,508$+++++++++++++ 5.724%

5.00% Design+Contingency 40,053,672$+++++++++++++ 3.816%

4.50% Escalation+Contingency 36,048,305$+++++++++++++ 3.435%

2.00% Site+Requirements/+Permitting 16,021,469$+++++++++++++ 1.526%

4.50% General+Conditions 36,048,305$+++++++++++++ 3.435%

4.00% Constructin+Management 32,042,938$+++++++++++++ 3.053%

1.70% Construction+Bonds 15,797,168$+++++++++++++ 1.505%

1.55% Liability+Insurance 12,416,638$+++++++++++++ 1.183%

TOTAL%CONSTRUCTION%COSTS 1,049,582,449$%%%%%%% 100%227.12$+++++++++++++++++++++

SOFT%COSTS8.0% A&E+Fees 81,691,547$+++++++++++++ 7.783%

1.5% Consultant/Legal+Fees 4,953,008$++++++++++++++++ 0.472%

10.0% Development+Fee 113,622,700$+++++++++++ 10.826%

Total 1,249,849,705$%%%%%%% 119.081%

Total+Cost+per+Square+Foot 270.46$+++++++++++++++++++++

Financial


Retail Buildings

Est. Construction Costs



2.0000 Existing+Conditions 136,940$+++++++++++++++++++ 0.030%

2.1000 Demolition 26,175$+++++++++++++++++++++ 0.006%

2.0100 Erosion+/+Site+Control 12,245$+++++++++++++++++++++ 0.003%

2.1000 Earthwork 9,531,846$++++++++++++++++ 2.076%

2.4000 Special+Foundations+and+Load+Bearing+Elements 12,104,183$+++++++++++++ 2.637%

2.5000 Utilities 10,669,661$+++++++++++++ 2.324%

2.5900 Utility+Relocation 104,088$+++++++++++++++++++ 0.023%

2.6000 Paving+and+Surfacing 3,087,881$++++++++++++++++ 0.673%

2.9100 Landscaping 10,482,209$+++++++++++++ 2.283%

2.9500 Special+Amenities+and+Water+Features 3,627,515$++++++++++++++++ 0.790%

2.9800 Transportation+Signaling+and+Control+Equip 1,933,437$++++++++++++++++ 0.421%

2.9900 Site+Drinage+and+Stormwater+Retention 4,500,000$++++++++++++++++ 0.980%

2.9950 Wetlands+/+Waterways 1,534,723$++++++++++++++++ 0.334%

3.0000 Concrete 11,427,670$+++++++++++++ 2.489%

3.4000 Precast+Concrete 61,683,017$+++++++++++++ 13.436%

3.5300 Miscellaneous+Concrete 1,143,013$++++++++++++++++ 0.249%

4.0000 Masonary 10,732,787$+++++++++++++ 2.338%

5.0000 Structural+Steel 5,257,090$++++++++++++++++ 1.145%

5.0001 Composite+Structure 4,483,062$++++++++++++++++ 0.977%

5.4000 ColdVFormed+Metal+Framing 1,832,176$++++++++++++++++ 0.399%

5.5000 Metal+Fabrications+/+Stairs+/+Rails 3,817,053$++++++++++++++++ 0.831%

6.0000 Rough+Carpentry 723,557$+++++++++++++++++++ 0.158%

6.2000 Finish+Carpentry+/Architectural+Woodwork 465,550$+++++++++++++++++++ 0.101%

7.1000 Dampproofing+and+Water+Proofing 1,715,785$++++++++++++++++ 0.374%

7.2000 Thermal+and+Moisture+Barriers 939,921$+++++++++++++++++++ 0.205%

7.3000 Roofing+/+Metal+wall+and+Roof+Panels 5,074,446$++++++++++++++++ 1.105%

7.8000 Sealants+/+Fire+proofing 1,793,160$++++++++++++++++ 0.391%

7.9000 Roof+Paving+Systems 1,081,864$++++++++++++++++ 0.236%

8.0000 Exterior+/+Fire+Doors+and+Windows 4,773,652$++++++++++++++++ 1.040%

8.9000 Overhead+Doors 67,799$+++++++++++++++++++++ 0.015%

9.0500 Demountable+partitions 30,568,789$+++++++++++++ 6.659%

9.1000 Plaster+/+Interior+Metal+Framing+/+Gypsum+Wallboard 1,769,597$++++++++++++++++ 0.385%

9.2000 Interior+Composite+Walls 193,007$+++++++++++++++++++ 0.042%

9.3000 Finishes 2,209,797$++++++++++++++++ 0.481%

9.4000 Raised+Flooring+and+Finishes 34,164,610$+++++++++++++ 7.442%

9.5000 Sealed+Concrete+Floor+and+Finishes 167,272$+++++++++++++++++++ 0.036%

10.0000 Speacialties 613,139$+++++++++++++++++++ 0.134%

10.1000 Toilet+&+Accessories 3,369,824$++++++++++++++++ 0.734%

10.8000 Postal+Boxes 17,919$+++++++++++++++++++++ 0.004%

11.0000 Equipment 1,802,499$++++++++++++++++ 0.393%

13.0000 Special+Construction 428,580$+++++++++++++++++++ 0.093%

14.1000 Conveying+Equipment+Elevators+Escalators 3,884,025$++++++++++++++++ 0.846%

15.3000 Fire+Supression 2,236,842$++++++++++++++++ 0.487%

15.4000 Plumbing 23,687,186$+++++++++++++ 5.160%

15.8000 Heating,+Ventalating+and+Air+Conditioning+(HVAC) 44,556,990$+++++++++++++ 9.705%

16.0000 Electrical 23,919,304$+++++++++++++ 5.210%

16.7100 Data+/+Communications/+Audio+visual 305,885$+++++++++++++++++++ 0.067%

16.8000 Fire+Alarm+/+Security+Systems 1,736,081$++++++++++++++++ 0.378%

SUBTOTAL 350,393,850$%%%%%%%%%%% 76.32%

7.50% Construction+Contingency 26,279,539$+++++++++++++ 5.724%

5.00% Design+Contingency 17,519,692$+++++++++++++ 3.816%

4.50% Escalation+Contingency 15,767,723$+++++++++++++ 3.435%

2.00% Site+Requirements/+Permitting 7,007,877$++++++++++++++++ 1.526%

4.50% General+Conditions 15,767,723$+++++++++++++ 3.435%

4.00% Constructin+Management 14,015,754$+++++++++++++ 3.053%

1.70% Construction+Bonds 6,909,767$++++++++++++++++ 1.505%

1.55% Liability+Insurance 5,431,105$++++++++++++++++ 1.183%

TOTAL%CONSTRUCTION%COSTS 459,093,030$%%%%%%%%%%% 100%201.57$+++++++++++++++++++++

SOFT%COSTS8.0% A&E+Fees 35,732,324$+++++++++++++ 7.783%

1.5% Consultant/Legal+Fees 2,166,473$++++++++++++++++ 0.472%

10.0% Development+Fee 49,699,183$+++++++++++++ 10.826%

Total 546,691,008.74$%%%%% 119.081%

Total+Cost+per+Square+Foot 240.03$+++++++++++++++++++++

Financial


Retail Buildings

Available Retail Income

Retail'Building'Details !Value!of!Buildings 546,691,009Buildings'included'within'the'Retail'building'Category'are'A,B,C,D,E,F,G,H1,H2,H3,K,'&'Q.

Retail Qty!of!Units S.F. Lease!Rate Total!

Building'A 6''''''''''''''''''' 26,928''''' 28.00$'''''''''' 753,984$'''''''''''Building'B 7''''''''''''''''''' 22,845''''' 28.00$'''''''''' 639,660$'''''''''''Building'C 3''''''''''''''''''' 8,507'''''''' 28.00$'''''''''' 238,196$'''''''''''Building'D 4''''''''''''''''''' 23,973''''' 28.00$'''''''''' 671,244$'''''''''''Building'E 11'''''''''''''''' 32,716''''' 28.00$'''''''''' 916,048$'''''''''''Building'F 11'''''''''''''''' 24,032''''' 28.00$'''''''''' 672,896$'''''''''''Building'G 2''''''''''''''''''' 32,023''''' 28.00$'''''''''' 896,644$'''''''''''Building'I 6''''''''''''''''''' 64,453''''' 28.00$'''''''''' 1,804,684$''''''''Building'K 5''''''''''''''''''' 7,648'''''''' 28.00$'''''''''' 214,144$'''''''''''Building'L 8''''''''''''''''''' 25,615''''' 28.00$'''''''''' 717,220$'''''''''''Building'Q 3''''''''''''''''''' 34,155''''' 28.00$'''''''''' 956,340$'''''''''''

Totals 87!!!!!!!!!!!!!!!! 302,895!!! ! 8,481,060$!!!!!!!!' ' ' '' ' ' '

Office!Space Qty!of!Units S.F. Lease!Rate Total!

Building'A n/a 20,699''''' 22.00$'''''''''' 455,378$'''''''''''Building'B n/a 22,854''''' 22.00$'''''''''' 502,788$'''''''''''Building'C n/a 13,181''''' 22.00$'''''''''' 289,982$'''''''''''Building'F n/a 65,717''''' 22.00$'''''''''' 1,445,774$''''''''Building'G n/a 32,023''''' 22.00$'''''''''' 704,506$'''''''''''Building'L n/a 25,615''''' 22.00$'''''''''' 563,530$'''''''''''

Totals n/a 180,089!!! ! 3,961,958$!!!!!!!!

Restaurant Qty!of!Units S.F. Lease!Rate Total!

Building'A 3 10,593''''' 28.00$'''''''''' 296,604$'''''''''''Building'B 2 15,477''''' 32.00$'''''''''' 495,264$'''''''''''Building'C 3 16,643''''' 32.00$'''''''''' 532,576$'''''''''''Building'D 5 63,234''''' 28.00$'''''''''' 1,770,552$''''''''Building'E 3 12,157''''' 28.00$'''''''''' 340,396$'''''''''''Building'F 3 9,947'''''''' 32.00$'''''''''' 318,304$'''''''''''Building'H1 2 11,511''''' 36.00$'''''''''' 414,396$'''''''''''Building'H2 1 7,818'''''''' 36.00$'''''''''' 281,448$'''''''''''Building'H3 1 6,964'''''''' 36.00$'''''''''' 250,704$'''''''''''Building'K 3 11,583''''' 28.00$'''''''''' 324,324$'''''''''''Building'Q 3 26,155''''' 32.00$'''''''''' 836,960$'''''''''''

Totals 29!!!!!!!!!!!!!!!! 192,082!!! ! 5,861,528$!!!!!!!!

' ' ' ' 'Total!Available!Combined!Income 18,304,546!!!!!!!!

Financial


Lofts

Construction Costs



2.0000 Existing+Conditions 25,510%%%%%%%%%%%%%%%%%%%%%%% 0.012%2.1000 Demolition 26,476%%%%%%%%%%%%%%%%%%%%%%% 0.012%2.0100 Erosion+/+Site+Control 12,500%%%%%%%%%%%%%%%%%%%%%%% 0.006%2.1000 Earthwork 3,021,346%%%%%%%%%%%%%%%%%% 1.367%2.4000 Special+Foundations+and+Load+Bearing+Elements 4,998,058%%%%%%%%%%%%%%%%%% 2.261%2.5000 Utilities 263,316%%%%%%%%%%%%%%%%%%%%% 0.119%2.5900 Utility+Relocation K%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.6000 Paving+and+Surfacing 214,436%%%%%%%%%%%%%%%%%%%%% 0.097%2.9100 Landscaping 1,266,311%%%%%%%%%%%%%%%%%% 0.573%2.9500 Special+Amenities+and+Water+Features 719,122%%%%%%%%%%%%%%%%%%%%% 0.325%2.9800 Transportation+Signaling+and+Control+Equip 203,125%%%%%%%%%%%%%%%%%%%%% 0.092%2.9900 Site+Drinage+and+Stormwater+Retention K%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.9950 Wetlands+/+Waterways 12,743%%%%%%%%%%%%%%%%%%%%%%% 0.006%3.0000 Concrete 5,816,431%%%%%%%%%%%%%%%%%% 2.632%3.4000 Precast+Concrete 37,457,996%%%%%%%%%%%%%%% 16.947%3.5300 Miscellaneous+Concrete 525,109%%%%%%%%%%%%%%%%%%%%% 0.238%4.0000 Masonary 2,965,185%%%%%%%%%%%%%%%%%% 1.342%5.0000 Structural+Steel 335,019%%%%%%%%%%%%%%%%%%%%% 0.152%5.0001 Composite+Structure 9,099,616%%%%%%%%%%%%%%%%%% 4.117%5.4000 ColdTFormed+Metal+Framing 127,774%%%%%%%%%%%%%%%%%%%%% 0.058%5.5000 Metal+Fabrications+/+Stairs+/+Rails 1,915,856%%%%%%%%%%%%%%%%%% 0.867%6.0000 Rough+Carpentry 336,378%%%%%%%%%%%%%%%%%%%%% 0.152%6.2000 Finish+Carpentry+/Architectural+Woodwork 64,197%%%%%%%%%%%%%%%%%%%%%%% 0.029%7.1000 Dampproofing+and+Water+Proofing 1,568,514%%%%%%%%%%%%%%%%%% 0.710%7.2000 Thermal+and+Moisture+Barriers 403,201%%%%%%%%%%%%%%%%%%%%% 0.182%7.3000 Roofing+/+Metal+wall+and+Roof+Panels 3,030,687%%%%%%%%%%%%%%%%%% 1.371%7.8000 Sealants+/+Fire+proofing 895,494%%%%%%%%%%%%%%%%%%%%% 0.405%7.9000 Roof+Paving+Systems 413,297%%%%%%%%%%%%%%%%%%%%% 0.187%8.0000 Exterior+/+Fire+Doors+and+Windows 3,077,295%%%%%%%%%%%%%%%%%% 1.392%8.9000 Overhead+Doors 90,587%%%%%%%%%%%%%%%%%%%%%%% 0.041%9.0500 Demountable+partitions 13,924,157%%%%%%%%%%%%%%% 6.300%9.1000 Plaster+/+Interior+Metal+Framing+/+Gypsum+Wallboard 1,254,416%%%%%%%%%%%%%%%%%% 0.568%9.2000 Interior+Composite+Walls 324,162%%%%%%%%%%%%%%%%%%%%% 0.147%9.3000 Finishes 1,224,264%%%%%%%%%%%%%%%%%% 0.554%9.4000 Raised+Flooring+and+Finishes 17,522,598%%%%%%%%%%%%%%% 7.928%9.5000 Sealed+Concrete+Floor+and+Finishes 683,323%%%%%%%%%%%%%%%%%%%%% 0.309%10.0000 Speacialties 485,789%%%%%%%%%%%%%%%%%%%%% 0.220%10.1000 Toilet+&+Accessories 1,276,626%%%%%%%%%%%%%%%%%% 0.578%10.8000 Postal+Boxes 49,151%%%%%%%%%%%%%%%%%%%%%%% 0.022%11.0000 Equipment 4,157,652%%%%%%%%%%%%%%%%%% 1.881%13.0000 Special+Construction 718,930%%%%%%%%%%%%%%%%%%%%% 0.325%14.1000 Conveying+Equipment+Elevators+Escalators 1,360,516%%%%%%%%%%%%%%%%%% 0.616%15.3000 Fire+Supression 1,112,595%%%%%%%%%%%%%%%%%% 0.503%15.4000 Plumbing 12,149,001%%%%%%%%%%%%%%% 5.497%15.8000 Heating,+Ventalating+and+Air+Conditioning+(HVAC) 21,126,067%%%%%%%%%%%%%%% 9.558%16.0000 Electrical 11,321,491%%%%%%%%%%%%%%% 5.122%16.7100 Data+/+Communications/+Audio+visual 234,554%%%%%%%%%%%%%%%%%%%%% 0.106%16.8000 Fire+Alarm+/+Security+Systems 884,349%%%%%%%%%%%%%%%%%%%%% 0.400%

SUBTOTAL 168,695,221$%%%%%%%%%%% 76.32%

7.50% Construction+Contingency 12,652,142$+++++++++++++ 5.724%5.00% Design+Contingency 8,434,761$++++++++++++++++ 3.816%4.50% Escalation+Contingency 7,591,285$++++++++++++++++ 3.435%2.00% Site+Requirements/+Permitting 3,373,904$++++++++++++++++ 1.526%4.50% General+Conditions 7,591,285$++++++++++++++++ 3.435%4.00% Constructin+Management 6,747,809$++++++++++++++++ 3.053%1.70% Construction+Bonds 3,326,670$++++++++++++++++ 1.505%1.55% Liability+Insurance 2,614,776$++++++++++++++++ 1.183%


SOFT%COSTS8.0% A&E+Fees 17,203,134$+++++++++++++ 7.783%1.5% Consultant/Legal+Fees 1,043,036$++++++++++++++++ 0.472%10.0% Development+Fee 23,927,402$+++++++++++++ 10.826%

Total 263,201,424.26$%%%%% 119.081%Total+Cost+per+Square+Foot 225.31$+++++++++++++++++++++

Financial


Lofts

Building Details

Loft%Building%Details !Value!of!Buildings 263,201,424$!!!!!!!Buildings%included%within%the%Loft%building%Category%are%A,%B,%C,%E,%J%&%L

Loft!Building!Size Qty!of!Units Loft!SF Building!Size !%

Building%A%=%Urban%Lofts 60 60,263%%%%%%%%%%% 60,263%%%%%%%%%% % %Building%B%=%Urban%Lofts 40 69,290%%%%%%%%%%% 69,290%%%%%%%%%% % %Building%C%=%Urban%Lofts 24 43,983%%%%%%%%%%% 43,983%%%%%%%%%% % %Building%E%=%Economy%Lofts 75 69,456%%%%%%%%%%% 69,465%%%%%%%%%% % %Building%J%=%Metro%Condos%|Heart%Homes 65 97,990%%%%%%%%%%% 879,074%%%%%%% % %Building%L%=%Urban%Lofts 40 46,170%%%%%%%%%%% 51,230%%%%%%%%%% % %Totals 364 569,630!!!!!!!! 1,173,305!!!! ! !

Loft!Sizes!and!Quantity Qty!of!Units S.F. Lease!Rate Total! Average!Unit!Rent

Building%A%=%Urban%Lofts % 60 60,263%%%%%%%%%%% 14.00$%%%%%%%%%% 843,682$%%%%%%%%%%%%%%% 1,172$%%%%%%%%%Building%B%=%Urban%Lofts % 50 69,290%%%%%%%%%%% 14.00$%%%%%%%%%% 970,060$%%%%%%%%%%%%%%% 1,617$%%%%%%%%%Building%C%=%Urban%Lofts % 45 43,983%%%%%%%%%%% 14.00$%%%%%%%%%% 615,762$%%%%%%%%%%%%%%% 1,140$%%%%%%%%%Building%E%=%Economy%Lofts % 75 69,456%%%%%%%%%%% 12.50$%%%%%%%%%% 868,200$%%%%%%%%%%%%%%% 965$%%%%%%%%%%%%Building%J%=%Metro%Condos%|Heart%Homes% 65 97,990%%%%%%%%%%% 18.00$%%%%%%%%%% 1,763,820$%%%%%%%%%%%% 2,261$%%%%%%%%%Building%L%=%Urban%Lofts % 40 46,170%%%%%%%%%%% 14.00$%%%%%%%%%% 646,380$%%%%%%%%%%%%%%% 1,347$%%%%%%%%%

Totals ! 364 387,152!!!!!!!! ! 5,707,904$!!!!!!!!!!!!

Other!income!from!Buildings Qty!of!Units S.F. Lease!Rate Total!

Building%J%=%Resteraunts 2 5,423%%%%%%%%%%%%% 32.00$%%%%%%%%%% 173,536$%%%%%%%%%%%%%%%Building%J%=%Retail 12 48,201%%%%%%%%%%% 28.00$%%%%%%%%%% 1,349,628$%%%%%%%%%%%%

Totals 14!!!!!!!!!!!!!!!! 53,624!!!!!!!!!!! ! 1,523,164$!!!!!!!!!!!!

Financial


Hotels+Resort

Construction Costs



2.0000 Existing+Conditions 45,678%%%%%%%%%%%%%%%%%%%%%%% 0.011%2.1000 Demolition 173,980%%%%%%%%%%%%%%%%%%%%% 0.043%2.0100 Erosion+/+Site+Control 72,634%%%%%%%%%%%%%%%%%%%%%%% 0.018%2.1000 Earthwork 5,118,140%%%%%%%%%%%%%%%%%% 1.276%2.4000 Special+Foundations+and+Load+Bearing+Elements 9,050,239%%%%%%%%%%%%%%%%%% 2.257%2.5000 Utilities 629,143%%%%%%%%%%%%%%%%%%%%% 0.157%2.5900 Utility+Relocation 15,000%%%%%%%%%%%%%%%%%%%%%%% 0.004%2.6000 Paving+and+Surfacing 1,386,560%%%%%%%%%%%%%%%%%% 0.346%2.9100 Landscaping 6,495,347%%%%%%%%%%%%%%%%%% 1.620%2.9500 Special+Amenities+and+Water+Features 15,490,355%%%%%%%%%%%%%%% 3.862%2.9800 Transportation+Signaling+and+Control+Equip 79,588%%%%%%%%%%%%%%%%%%%%%%% 0.020%2.9900 Site+Drinage+and+Stormwater+Retention K%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.9950 Wetlands+/+Waterways 79,412%%%%%%%%%%%%%%%%%%%%%%% 0.020%3.0000 Concrete 5,508,703%%%%%%%%%%%%%%%%%% 1.374%3.4000 Precast+Concrete 30,915,010%%%%%%%%%%%%%%% 7.708%3.5300 Miscellaneous+Concrete 363,553%%%%%%%%%%%%%%%%%%%%% 0.091%4.0000 Masonary 1,516,451%%%%%%%%%%%%%%%%%% 0.378%5.0000 Structural+Steel 36,560,291%%%%%%%%%%%%%%% 9.116%5.0001 Composite+Structure 4,449,600%%%%%%%%%%%%%%%%%% 1.109%5.4000 ColdTFormed+Metal+Framing 7,008,859%%%%%%%%%%%%%%%%%% 1.748%5.5000 Metal+Fabrications+/+Stairs+/+Rails 2,927,922%%%%%%%%%%%%%%%%%% 0.730%6.0000 Rough+Carpentry 1,271,063%%%%%%%%%%%%%%%%%% 0.317%6.2000 Finish+Carpentry+/Architectural+Woodwork 340,890%%%%%%%%%%%%%%%%%%%%% 0.085%7.1000 Dampproofing+and+Water+Proofing 3,129,691%%%%%%%%%%%%%%%%%% 0.780%7.2000 Thermal+and+Moisture+Barriers 636,951%%%%%%%%%%%%%%%%%%%%% 0.159%7.3000 Roofing+/+Metal+wall+and+Roof+Panels 11,751,621%%%%%%%%%%%%%%% 2.930%7.8000 Sealants+/+Fire+proofing 443,304%%%%%%%%%%%%%%%%%%%%% 0.111%7.9000 Roof+Paving+Systems 1,284,065%%%%%%%%%%%%%%%%%% 0.320%8.0000 Exterior+/+Fire+Doors+and+Windows 9,272,284%%%%%%%%%%%%%%%%%% 2.312%8.9000 Overhead+Doors 477,226%%%%%%%%%%%%%%%%%%%%% 0.119%9.0500 Demountable+partitions 20,064,790%%%%%%%%%%%%%%% 5.003%9.1000 Plaster+/+Interior+Metal+Framing+/+Gypsum+Wallboard 3,457,022%%%%%%%%%%%%%%%%%% 0.862%9.2000 Interior+Composite+Walls 1,705,469%%%%%%%%%%%%%%%%%% 0.425%9.3000 Finishes 3,773,726%%%%%%%%%%%%%%%%%% 0.941%9.4000 Raised+Flooring+and+Finishes 15,614,081%%%%%%%%%%%%%%% 3.893%9.5000 Sealed+Concrete+Floor+and+Finishes 1,477,509%%%%%%%%%%%%%%%%%% 0.368%10.0000 Speacialties 1,755,786%%%%%%%%%%%%%%%%%% 0.438%10.1000 Toilet+&+Accessories 6,726,087%%%%%%%%%%%%%%%%%% 1.677%10.8000 Postal+Boxes 258,976%%%%%%%%%%%%%%%%%%%%% 0.065%11.0000 Equipment 21,227,896%%%%%%%%%%%%%%% 5.293%13.0000 Special+Construction 3,787,039%%%%%%%%%%%%%%%%%% 0.944%14.1000 Conveying+Equipment+Elevators+Escalators 1,268,560%%%%%%%%%%%%%%%%%% 0.316%15.3000 Fire+Supression 1,477,285%%%%%%%%%%%%%%%%%% 0.368%15.4000 Plumbing 15,835,102%%%%%%%%%%%%%%% 3.948%15.8000 Heating,+Ventalating+and+Air+Conditioning+(HVAC) 37,106,440%%%%%%%%%%%%%%% 9.252%16.0000 Electrical 12,869,766%%%%%%%%%%%%%%% 3.209%16.7100 Data+/+Communications/+Audio+visual 393,459%%%%%%%%%%%%%%%%%%%%% 0.098%16.8000 Fire+Alarm+/+Security+Systems 805,951%%%%%%%%%%%%%%%%%%%%% 0.201%

SUBTOTAL 306,098,504$%%%%%%%%%%% 76.32%

7.50% Construction+Contingency 22,957,388$+++++++++++++ 5.724%5.00% Design+Contingency 15,304,925$+++++++++++++ 3.816%4.50% Escalation+Contingency 13,774,433$+++++++++++++ 3.435%2.00% Site+Requirements/+Permitting 6,121,970$++++++++++++++++ 1.526%4.50% General+Conditions 13,774,433$+++++++++++++ 3.435%4.00% Constructin+Management 12,243,940$+++++++++++++ 3.053%1.70% Construction+Bonds 6,036,262$++++++++++++++++ 1.505%1.55% Liability+Insurance 4,744,527$++++++++++++++++ 1.183%


SOFT%COSTS8.0% A&E+Fees 31,215,191$+++++++++++++ 7.783%1.5% Consultant/Legal+Fees 1,892,596$++++++++++++++++ 0.472%10.0% Development+Fee 43,416,417$+++++++++++++ 10.826%

Total 477,580,585.46$%%%%% 119.081%Total+Cost+per+Square+Foot 313.66$+++++++++++++++++++++

Financial


Grand (Sr) Living

Construction Costs

HARD%CONSTRUCTION%COSTSArea%/%Square%Footage% 217,380%%%%%%%%%%%%%%%%%%%%%


2.0000 Existing+Conditions 6,530%%%%%%%%%%%%%%%%%%%%%%%%% 0.013%2.1000 Demolition 18,265%%%%%%%%%%%%%%%%%%%%%%% 0.036%2.0100 Erosion+/+Site+Control 9,018%%%%%%%%%%%%%%%%%%%%%%%%% 0.018%2.1000 Earthwork 502,537%%%%%%%%%%%%%%%%%%%%% 1.004%2.4000 Special+Foundations+and+Load+Bearing+Elements 391,849%%%%%%%%%%%%%%%%%%%%% 0.783%2.5000 Utilities 1,361,349%%%%%%%%%%%%%%%%%% 2.720%2.5900 Utility+Relocation K%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.6000 Paving+and+Surfacing 1,085,542%%%%%%%%%%%%%%%%%% 2.169%2.9100 Landscaping 1,882,289%%%%%%%%%%%%%%%%%% 3.761%2.9500 Special+Amenities+and+Water+Features 740,697%%%%%%%%%%%%%%%%%%%%% 1.480%2.9800 Transportation+Signaling+and+Control+Equip 11,363%%%%%%%%%%%%%%%%%%%%%%% 0.023%2.9900 Site+Drinage+and+Stormwater+Retention K%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.9950 Wetlands+/+Waterways 33,125%%%%%%%%%%%%%%%%%%%%%%% 0.066%3.0000 Concrete 786,366%%%%%%%%%%%%%%%%%%%%% 1.571%3.4000 Precast+Concrete 1,427,780%%%%%%%%%%%%%%%%%% 2.853%3.5300 Miscellaneous+Concrete 51,864%%%%%%%%%%%%%%%%%%%%%%% 0.104%4.0000 Masonary 230,751%%%%%%%%%%%%%%%%%%%%% 0.461%5.0000 Structural+Steel 26,461%%%%%%%%%%%%%%%%%%%%%%% 0.053%5.0001 Composite+Structure 5,081,401%%%%%%%%%%%%%%%%%% 10.153%5.4000 ColdTFormed+Metal+Framing K%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%5.5000 Metal+Fabrications+/+Stairs+/+Rails 141,107%%%%%%%%%%%%%%%%%%%%% 0.282%6.0000 Rough+Carpentry 181,467%%%%%%%%%%%%%%%%%%%%% 0.363%6.2000 Finish+Carpentry+/Architectural+Woodwork 48,711%%%%%%%%%%%%%%%%%%%%%%% 0.097%7.1000 Dampproofing+and+Water+Proofing 150,852%%%%%%%%%%%%%%%%%%%%% 0.301%7.2000 Thermal+and+Moisture+Barriers 30,696%%%%%%%%%%%%%%%%%%%%%%% 0.061%7.3000 Roofing+/+Metal+wall+and+Roof+Panels 726,346%%%%%%%%%%%%%%%%%%%%% 1.451%7.8000 Sealants+/+Fire+proofing 63,289%%%%%%%%%%%%%%%%%%%%%%% 0.126%7.9000 Roof+Paving+Systems 61,894%%%%%%%%%%%%%%%%%%%%%%% 0.124%8.0000 Exterior+/+Fire+Doors+and+Windows 655,062%%%%%%%%%%%%%%%%%%%%% 1.309%8.9000 Overhead+Doors 207,974%%%%%%%%%%%%%%%%%%%%% 0.416%9.0500 Demountable+partitions 4,714,800%%%%%%%%%%%%%%%%%% 9.421%9.1000 Plaster+/+Interior+Metal+Framing+/+Gypsum+Wallboard 234,500%%%%%%%%%%%%%%%%%%%%% 0.469%9.2000 Interior+Composite+Walls 243,485%%%%%%%%%%%%%%%%%%%%% 0.487%9.3000 Finishes 181,870%%%%%%%%%%%%%%%%%%%%% 0.363%9.4000 Raised+Flooring+and+Finishes 3,260,700%%%%%%%%%%%%%%%%%% 6.515%9.5000 Sealed+Concrete+Floor+and+Finishes 211,020%%%%%%%%%%%%%%%%%%%%% 0.422%10.0000 Speacialties 251,582%%%%%%%%%%%%%%%%%%%%% 0.503%10.1000 Toilet+&+Accessories 1,160,315%%%%%%%%%%%%%%%%%% 2.318%10.8000 Postal+Boxes 36,974%%%%%%%%%%%%%%%%%%%%%%% 0.074%11.0000 Equipment 2,622,088%%%%%%%%%%%%%%%%%% 5.239%13.0000 Special+Construction 182,511%%%%%%%%%%%%%%%%%%%%% 0.365%14.1000 Conveying+Equipment+Elevators+Escalators 61,140%%%%%%%%%%%%%%%%%%%%%%% 0.122%15.3000 Fire+Supression 71,196%%%%%%%%%%%%%%%%%%%%%%% 0.142%15.4000 Plumbing 2,260,752%%%%%%%%%%%%%%%%%% 4.517%15.8000 Heating,+Ventalating+and+Air+Conditioning+(HVAC) 3,528,300%%%%%%%%%%%%%%%%%% 7.050%16.0000 Electrical 2,951,019%%%%%%%%%%%%%%%%%% 5.896%16.7100 Data+/+Communications/+Audio+visual 96,173%%%%%%%%%%%%%%%%%%%%%%% 0.192%16.8000 Fire+Alarm+/+Security+Systems 215,065%%%%%%%%%%%%%%%%%%%%% 0.430%

SUBTOTAL 38,198,075$%%%%%%%%%%%%% 76.32%

7.50% Construction+Contingency 2,864,856$++++++++++++++++ 5.724%5.00% Design+Contingency 1,909,904$++++++++++++++++ 3.816%4.50% Escalation+Contingency 1,718,913$++++++++++++++++ 3.435%2.00% Site+Requirements/+Permitting 763,962$+++++++++++++++++++ 1.526%4.50% General+Conditions 1,718,913$++++++++++++++++ 3.435%4.00% Constructin+Management 1,527,923$++++++++++++++++ 3.053%1.70% Construction+Bonds 753,266$+++++++++++++++++++ 1.505%1.55% Liability+Insurance 592,070$+++++++++++++++++++ 1.183%

TOTAL%CONSTRUCTION%COSTS 50,047,882$%%%%%%%%%%%%% 100%230.23$+++++++++++++++++++++

SOFT%COSTS8.0% A&E+Fees 3,895,348$++++++++++++++++ 7.783%1.5% Consultant/Legal+Fees 236,177$+++++++++++++++++++ 0.472%10.0% Development+Fee 5,417,941$++++++++++++++++ 10.826%

Total 59,597,347.88$%%%%%%% 119.081%Total+Cost+per+Square+Foot 274.16$+++++++++++++++++++++

Financial


Brownstones

Construction Costs

HARD%CONSTRUCTION%COSTSArea%/%Square%Footage% 314,475%%%%%%%%%%%%%%%%%%%%%


2.0000 Existing+Conditions 9,454%%%%%%%%%%%%%%%%%%%%%%%%% 0.014%2.1000 Demolition G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.0100 Erosion+/+Site+Control 13,046%%%%%%%%%%%%%%%%%%%%%%% 0.019%2.1000 Earthwork 579,484%%%%%%%%%%%%%%%%%%%%% 0.862%2.4000 Special+Foundations+and+Load+Bearing+Elements G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.5000 Utilities 2,488,359%%%%%%%%%%%%%%%%%% 3.703%2.5900 Utility+Relocation G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.6000 Paving+and+Surfacing 2,345,368%%%%%%%%%%%%%%%%%% 3.490%2.9100 Landscaping 3,494,158%%%%%%%%%%%%%%%%%% 5.199%2.9500 Special+Amenities+and+Water+Features 1,219,526%%%%%%%%%%%%%%%%%% 1.815%2.9800 Transportation+Signaling+and+Control+Equip 16,436%%%%%%%%%%%%%%%%%%%%%%% 0.024%2.9900 Site+Drinage+and+Stormwater+Retention G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%2.9950 Wetlands+/+Waterways 63,034%%%%%%%%%%%%%%%%%%%%%%% 0.094%3.0000 Concrete 1,137,456%%%%%%%%%%%%%%%%%% 1.692%3.4000 Precast+Concrete 2,553,250%%%%%%%%%%%%%%%%%% 3.799%3.5300 Miscellaneous+Concrete 75,000%%%%%%%%%%%%%%%%%%%%%%% 0.112%4.0000 Masonary 333,788%%%%%%%%%%%%%%%%%%%%% 0.497%5.0000 Structural+Steel G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%5.0001 Composite+Structure 6,289,500%%%%%%%%%%%%%%%%%% 9.358%5.4000 ColdTFormed+Metal+Framing G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%5.5000 Metal+Fabrications+/+Stairs+/+Rails 689,475%%%%%%%%%%%%%%%%%%%%% 1.026%6.0000 Rough+Carpentry 262,523%%%%%%%%%%%%%%%%%%%%% 0.391%6.2000 Finish+Carpentry+/Architectural+Woodwork 295,470%%%%%%%%%%%%%%%%%%%%% 0.440%7.1000 Dampproofing+and+Water+Proofing 461,779%%%%%%%%%%%%%%%%%%%%% 0.687%7.2000 Thermal+and+Moisture+Barriers G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%7.3000 Roofing+/+Metal+wall+and+Roof+Panels 349,418%%%%%%%%%%%%%%%%%%%%% 0.520%7.8000 Sealants+/+Fire+proofing 91,556%%%%%%%%%%%%%%%%%%%%%%% 0.136%7.9000 Roof+Paving+Systems 138,580%%%%%%%%%%%%%%%%%%%%% 0.206%8.0000 Exterior+/+Fire+Doors+and+Windows 947,651%%%%%%%%%%%%%%%%%%%%% 1.410%8.9000 Overhead+Doors 232,575%%%%%%%%%%%%%%%%%%%%% 0.346%9.0500 Demountable+partitions 6,289,500%%%%%%%%%%%%%%%%%% 9.358%9.1000 Plaster+/+Interior+Metal+Framing+/+Gypsum+Wallboard G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%9.2000 Interior+Composite+Walls 352,241%%%%%%%%%%%%%%%%%%%%% 0.524%9.3000 Finishes G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%9.4000 Raised+Flooring+and+Finishes 4,717,021%%%%%%%%%%%%%%%%%% 7.019%9.5000 Sealed+Concrete+Floor+and+Finishes G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%10.0000 Speacialties 362,505%%%%%%%%%%%%%%%%%%%%% 0.539%10.1000 Toilet+&+Accessories 1,825,982%%%%%%%%%%%%%%%%%% 2.717%10.8000 Postal+Boxes 54,840%%%%%%%%%%%%%%%%%%%%%%% 0.082%11.0000 Equipment 2,682,960%%%%%%%%%%%%%%%%%% 3.992%13.0000 Special+Construction G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%14.1000 Conveying+Equipment+Elevators+Escalators 1,575,000%%%%%%%%%%%%%%%%%% 2.343%15.3000 Fire+Supression G%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 0.000%15.4000 Plumbing 3,270,540%%%%%%%%%%%%%%%%%% 4.866%15.8000 Heating,+Ventalating+and+Air+Conditioning+(HVAC) 2,096,871%%%%%%%%%%%%%%%%%% 3.120%16.0000 Electrical 3,632,186%%%%%%%%%%%%%%%%%% 5.404%16.7100 Data+/+Communications/+Audio+visual 181,637%%%%%%%%%%%%%%%%%%%%% 0.270%16.8000 Fire+Alarm+/+Security+Systems 166,459%%%%%%%%%%%%%%%%%%%%% 0.248%

SUBTOTAL 51,294,628$%%%%%%%%%%%%% 76.32%

7.50% Construction+Contingency 3,847,097$++++++++++++++++ 5.724%5.00% Design+Contingency 2,564,731$++++++++++++++++ 3.816%4.50% Escalation+Contingency 2,308,258$++++++++++++++++ 3.435%2.00% Site+Requirements/+Permitting 1,025,893$++++++++++++++++ 1.526%4.50% General+Conditions 2,308,258$++++++++++++++++ 3.435%4.00% Constructin+Management 2,051,785$++++++++++++++++ 3.053%1.70% Construction+Bonds 1,011,530$++++++++++++++++ 1.505%1.55% Liability+Insurance 795,067$+++++++++++++++++++ 1.183%

TOTAL%CONSTRUCTION%COSTS 67,207,248$%%%%%%%%%%%%% 100%213.71$+++++++++++++++++++++

SOFT%COSTS8.0% A&E+Fees 5,230,903$++++++++++++++++ 7.783%1.5% Consultant/Legal+Fees 317,153$+++++++++++++++++++ 0.472%10.0% Development+Fee 7,275,530$++++++++++++++++ 10.826%

Total 80,030,834.12$%%%%%%% 119.081%Total+Cost+per+Square+Foot 254.49$+++++++++++++++++++++

Financial

tollefsen village business plan

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