Laserfiche WebLink
Mr Jonathan Lowell <br /> November 25, 2015 <br /> Page 6 <br /> Estimated Final Estate Value <br /> The estimated additional costs between now and conveyance to the City or the <br /> Endowment are as follows <br /> 1 Closing the Conservatorship β€” legal and accounting $ 5,000 <br /> 2 Closing the Estate β€” legal and accounting <br /> Estate attorney (Statutory assumes $1,250,000 estate) $25,000 <br /> Court fees, etc $ 1,000 <br /> Accountant's fee 7 <br /> Executor's fee $25,000 <br /> (% will be donated to the Endowment, if created ) <br /> 3 Final site work (coy pond removal) $ 5,000 <br /> 4 Final payment on Historic Study $ 8,000 <br /> 5 Monthly utilities, insurance, and caretakers wages $ 6,500 <br /> (5 months @$1,300 month) <br /> 6 Cost of sale of property to be netted against sale price $0 <br /> (Expected to be 1'Y° to listing broker, 2% to buyer's broker) <br /> 7 Contingency and miscellaneous e g Jones historic house plaque $10,000 <br /> Total estimated future costs $85,500 <br /> These anticipated expenses total approximately $85,500 That deducted from the <br /> expected checking balance of$376,673 would bring the Estate checking account to <br /> approximately $291,133 Adding the restitution asset of$29,952, which will be received <br /> over time, non-real property assets total $321,085 Thus, if the property sale brings in <br /> $1,000,000 net (perhaps optimistic), then the historic endowment would be funded with <br /> approximately $1,321,085 <br /> The supporting documents are being provided by dropbox link β€”to save paper and <br /> allow the City to determine which if any items require confidential treatment <br /> Miscellaneous items <br /> 1 Marketing plan <br />