
| |
We will raise the funds as a unit, and also each museum will run its own fundraising.
The money raised by these efforts and applied to build "His Only Begotten"
Monument will be credited to each museum as per paid rent. Therefore, museums will receive
the pre-paid rent back from gate fees and will be able to use this money to improve their
own museum.
Example:
Gate fee of $6 per person for the month:
2000 visitors a day X $6 gate fee = $12,000 per day
$12,000 X 30 days = $360,000 monthly income
Tenant rents for 12,000 SF in 65,000 per month. If the tenant had raised 1,000,000
toward the construction of the monument, that amount would be spread over the 60-month
repayment plan shown in Justifying Required Income
$1,000,000 divided by 60 months = $16,600 per month
tenant rent 65,000 per month - $16,600 = $48,400
Therefore the tenant would receive 16,600 from that months gate fees. Example: a
tenant occupying 12,000 square foot and paying $65.00 per square foot would receive a
credit toward their rent of $780,000 per year, plus income of $126,240.
CALCULATION
Gross income from gate $4,380,000 per year divided by 58,000 SF = $75.25 X tenant area
12,000 SF = $906,240 - rent of $65.00 per square foot X 12,000 SF = 780,000
Tenant share of gate $906,240
minus tenants share of rent -$780,000
PAID to tenant as income $126,240
Tenants share of income is $10.25 per square foot of space rented per year.
Using this calculation the tenant would receive $10.25 per square foot for each square
foot they occupy. You could look at this scenario in a different direction and say that
HOBMF was paying $10.25 square foot to the tenant for each foot of area they occupy.
This income and sales along with sales from their merchandise, will be the primary
means of securing their required operations income.
|