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Maximum transfer value of Lessee’s interest in the Leased Premises and the Improvements shall not be more than the

 

 (a)   Original Value of the Improvements as stated in Section 10.9 of the Extending Period Ground Lease; plus

 

 (b)   an annual inflation adjustment equal to the product of (i) the Original Value set forth in (a) above, times (ii) the percentage change in the Consumer Price Index (CPI) for the immediately preceding year or the Applicable Percentage (defined below), whichever is less.  CPI shall mean the Consumer Price Index [all urban consumers, average all items, Northeast Region, standard reference base, 1982-84 (Published by the U.S. Department of Labor, or if no longer published, an equivalent index)]; plus

 

(c)   the value of Work approved in accordance with Article X hereof, [which shall not exceed a certain amount annually less a depreciation allowance or a cap on the lifetime value of the improvements.]

 

The maximum annual percentage inflation adjustment set forth in subsection (b) above shall be increased each year, up to a maximum five percent (5%).

 

 

 

 

 

 

 

 

 

Resell Calculation Spreadsheet

 

 

 

 

 

 

 

Purchase date:

 September 13, 2005

 

 

 

 

Purchase price:

$90,000

 

 

 

 

 

Address:

 

 

 

 

 

 

Leaseholder:

 

 

 

 

 

 

 

 

 

 

 

 

 

Resell Date

Year after Purchase

Original Sales Price

Allowed Appreciation

Allowed sales price prior to addition of improvements

Added improvements

Allowed Resell Value

September 13, 1996

1

$90,000

100.500%

$90,450

 

$90,450

September 13, 1997

2

$90,000

101.000%

$90,900

 

$90,900

September 13, 1998

3

$90,000

101.500%

$91,350

 

$91,350

September 13, 1999

4

$90,000

102.000%

$91,800

 

$91,800

September 13, 2000

5

$90,000

102.500%

$92,250

 

$92,250

September 13, 2001

6

$90,000

103.000%

$92,700

 

$92,700

September 13, 2002

7

$90,000

103.500%

$93,150

 

$93,150

September 13, 2003

8

$90,000

104.000%

$93,600

 

$93,600

September 13, 2004

9

$90,000

104.500%

$94,050

 

$94,050

September 13, 2005

10

$90,000

105.000%

$94,500

 

$94,500

 

 

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Last modified: 05/20/06