PROJECT DATA

Land Use Information:

Site Area: 9 acres (3.6 hectares)

Gross Building Area:

Phase I: 110,000

Phase II: 124,967

Gross Leasable Area:

Phase I: 86,707 square feet

Phase II: 100,000 square feet (approximate)

Parking Spaces: 400

Tenant Information (Square Feet):¹

<table><tr><td>Restaurant/Entertainment</td><td>41,739</td></tr><tr><td>Fast Food</td><td>3,877</td></tr><tr><td>Specialty Retail</td><td>5,559</td></tr><tr><td>Office</td><td>32,246</td></tr><tr><td>Other</td><td>3,286</td></tr><tr><td>Total</td><td>86,707</td></tr></table>

Notes:

¹Phase I only.

²Estimated.

³Estimate of amount contracted to date. Construction not yet complete.

⁴This amount is sufficient to fund all the public improvements, about 75 percent of the external construction, and 40 percent of the tenant improvements associated with the project.

Economic Information:

Construction Cost:

<table><tr><td>Streets</td><td>$ 1,289,596</td></tr><tr><td>Park</td><td>426,212</td></tr><tr><td>Utilities</td><td>700,000<sup>2</sup></td></tr><tr><td>Parking and Plazas</td><td>1,508,845</td></tr><tr><td>Buildings</td><td>6,580,153</td></tr><tr><td>Tenant Improvements</td><td>450,000<sup>2</sup></td></tr><tr><td>Total</td><td>$10,954,806<sup>3</sup></td></tr></table>

Funding Sources:

<table><tr><td>Department of Housing and Urban Development</td><td>$ 2,200,000</td></tr><tr><td>Economic Development Administration</td><td>3,870,000</td></tr><tr><td>State of Tennessee, Governor's Jobs Conference</td><td>3,500,000</td></tr><tr><td>Shelby County</td><td>600,000</td></tr><tr><td>City of Memphis</td><td>1,600,000</td></tr><tr><td>Total</td><td>$11,770,000<sup>4</sup></td></tr></table>

Retail Rents: $8 to $14 per square foot⁵

⁵Tenants also pay percentage rents that vary from 9 percent to 15 percent of gross sales and annual common area charges of $2.24 per square foot. All leases for retail tenants are for one year. Other leases range from one to 10 years.