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3rdand BroadwayPBA/CDANovember 17, 2020Slide 20Purchase Option for Public Parking• Developer has option to purchase 211 public parking for $15 million for first 15 years. After that, higher of $15 million or appraised value.Example: – 5 years = $3.5 million net to City– 10 years = $5 million net to City– 15 years = $8 million net to City• Parking to remain Public in perpetuity