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ti11 <br /> Exhibit 2 <br /> m PRELIMINARY SITE DEVELOPMENT COSTS <br /> to <br /> 3. TOTAL EXPENSE <br /> Is <br /> om BUILDING $3,759,155.00 <br /> 4 ASPHALT $275,000.00 <br /> HEATED CONCRETE $22,000.00 <br /> TEMPORARY ELECTRIC $31,350.00 <br /> 0 DESIGN AND ENGINEERING $98,500.00 <br /> 0 <br /> ESTIMATED TOTAL $4,186,005.00 <br /> A. Narrative Description of Project <br /> Developer will develop and construct, at its expense, what is expected to be a new 29,720 square <br /> foot auto dealership, and associated improvements to include an expanded indoor display area, <br /> modernized exterior fagade, new lighting and landscaping among other improvements. The new <br /> facility will be constructed on the site of the current Jackson Ford Dealership at 455 E. Pershing <br /> Road. The city shall be under no obligation to participate in the construction of any <br /> improvements associated with the project other than incentives outlined as part of this <br /> agreement. <br /> B. Timetable <br /> 1. Commence Construction: Sept. 30`h, 2011 <br /> 2. Complete Construction: No later than March 2013 <br /> C. Summary of Project <br /> 1. Construction By Developer <br /> (A) Estimated Total Project Costs $4,186,005 <br /> (B) Estimated Eligible Redevelopment Costs 50% of Final Project Costs <br /> to a Maximum of$2,093,002 <br /> 2. Estimated Total Incremental Real Estate and Sales Taxes <br /> (A) Real Estate Taxes $466,283 <br /> (B) Sales Taxes Dependent upon Sales <br /> Increase <br /> 3. Estimated Number of Permanent Jobs <br /> Created N/A <br /> D. Developer's Share of Proceeds <br /> (A) Real Estate Tax Increment: One Hundred (100%) Percent of the Real Estate Tax <br /> Increment for the previous calendar year actually received by the City. <br /> (B) Sales Tax Increment: Ninety (90%) Percent of the Sales Tax Increment for the <br /> previous calendar year actually received by the City; <br /> City of Decatur/Jackson Ford Redevelopment Agreement 21 <br />