Authority hears proforma showing modest developer return on Kemmer Road project
The project proforma presented financing of roughly 65% debt and 35% developer equity with a projected internal rate of return of about 2.97% on developer equity over 20 years; members described that return as relatively modest and asked for additional modeling.
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During the March 12 meeting the development team described the proposed financing structure for the Kemmer Road project as approximately 65% debt financing and 35% developer equity. The team said the projected internal rate of return on the 35% equity investment over a 20-year period is approximately 2.97%.
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