a propose land use property is 41.57 acres, optional for the developer to lease for 50 years. developer's responsiblity is to provide surveyor, update appraisal value, infrastruct water and sewage pumb station /connection due to none availability within two miles to the main sewer. And if developer is awarded and the signing of the contract, the responsibility of the developer is to update survey, appraisal of land use, pay demand up front 7% annual fee of update fair value of the property and pay land use tax.
investor's intent to develope 100 unit motel/apartment, 50 unit commercial retail, office space and a open public, civil open pevilion to accomodate 300 people.
If land use cost 11 million and lease is 50 years and developer to pay 7% annually, what will be the fee?
I'm not sure what the question was there. What fee's are you looking to find out about?
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