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CONSULTATInN (continued) The reversion value is based.on the following analysis. The current land cost basis used in the analysis is $2,182,664 plus the reported development cost of the improvements less the transit distdct grant which results in a total building cost of $18,643,485 for Marion County. It is difficult to forecast the future reversionary value (26 years ahead). Aowever, it is recognized that construction costs are escalating, and it is very probable that the future value will exceed the current costs, assuming good maintenance of the structure and value escalafion influences offsetting any depreciation. 'I'herefore, the cunent land cost basis and building cost for Marion County's portion will be used as the reversionary value. Adding the cost basis of the land at $2,182,664 results in a total reversionary value estimate of $20,826,149 in 1998 dollars. For purposes of this compacative analysis, the actual reversionary value will be deducted to indicate Uie net asset position for Marion County, recognizing that the reversionary interest reflects a future asset value. This technique will result in a total net comparison on a per square foot basis of the leasing scenario versus the scheduled rent/ownership scenario. ' The previously reported discount rates will also be applied in this technique. Calculaflons of the present value are presented on the following Lease Versus Contract RenUOwnership Analysis Tabulation Chart. -