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"INTEGRATED REAL ESTATE INVESTMENT MODELING TOOL"
By David Batker, Stuart Cowan, Teddi !rit Ca##e$$, and %a&on Twi$$
' ()** +y Eart Eono-i&
.ROTOT/.E VERSION *01
Ti& Ver&ion Oto+er (2, ()**
3or 4ue&tion& or Co--ent&, ontat5
Stuart Cowan, Auto#oie&i& LLC, &owan6a#oie&i&0o- or 7)189(2811(:
This model was created with grant support from the Bullitt Foundation.
This prototype EXCEL model is designed to show the basic structure of an integrated
real estate investment model that could systematically incorporate the many
social and environmental benefits (and costs of green buildings.
For a discussion of model assumptions and fuller conte!t" please see the Earth Economics
website (www.eartheconomics.org" where an accompanying report is also available
for download.
This model will be continually revised and updated to incorporate ongoing research
and comments and feedbac# from users.
This is an e!perimental and prototype model and under no circumstances should be used
for purposes of appraisal" valuation" real estate investing" or related purpose.
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"INTEGRATED REAL ESTATE INVESTMENT MODELING TOOL" By David Batker, Stuart Cow
.ROTOT/.E VERSION *0)
REVISION5 OCTOBER (2, ()** 8 CONTACT Stuart Cowan, Auto#oie&i& LLC, &owan6a#oie
!ORMMAR/
.ro?et Na-e5 Living Building Case $tudyBui$din >&e&5
O;;ie %&'"'''
Retai$ %'"'''
Mu$ti83a-i$y Re&identia$
Indu&tria$
Tota$ Gro&& S@uare 3ootae5 %)'"'''
Site &ie5 *'"'''
3$oor8Area Ratio 3AR *.' +%
Tota$ .ro?et Budet &,"%-'",'
SO>RCES AND >SES O3 3>NDS
$ources /mount a!imum /vailable
1wner E2uity %%"'''"'''
Construction Loan34ermanent Loan *)"%-'",' **"'%")&
Total $ources &,"%-'",'
INVESTOR RET>RNS A3TER TA
5nternal 6ate of 6eturn 7et 4resent 8alue% 9ear :.&*; (%"-%'"*'
& 9ear %-.',; %"&*)"'
%' 9ear %*.,&; *":%
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n, Teddi !rit8Ca##e$$, and %a&on Twi$$ ' ()** +y Eart Eono-i&
i&0o- or 7)189(2811(: ;or Co--ent& or 4ue&tion&
=ses /mount
Land Costs
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"INTEGRATED REAL ESTATE INVESTMENT MODELING TOOL" By David Batker, S
.ROTOT/.E VERSION *0)
REVISION5 OCTOBER (2, ()** 8 CONTACT Stuart Cowan, Auto#oie&i& LLC, &owa
!ORILDINGS
Type 7otes ?efinition
?efinition of Benefit
46185$51757@ EC1$9$TE0 $E685CE$
Aater 4rovision
0aterials 4rovision
0aterials 4rovision
Type within Ta!onomy ofBenefits
uantitative modelsavailable Aater supply capturing andpurifying water from enviornment
Biological materials used formedicines" fuel" art and building.@eological materials used forconstruction or other purposes
Lifecycle analysis forbuilding materials energy" to!icity"
mutagenicity"carcinogenicity
Building materials wood"
concrete" steel" glass
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uart Cowan, Teddi !rit8Ca##e$$, and %a&on Twi$$ ' ()** +y Eart Eono-i&
n6a#oie&i&0o- or 7)189(2811(: ;or Co--ent& or 4ue&tion&
4athway to 8alue in Building Estimated Total 8alueuantity and3or uality ofBeneficial 5mpact Created
$pecific Building Feature(s@enerating this EnvironmentalBenefit
uantitative or ualitative/ssessment of 8alueCreated
0onetary 8alue Created asFunction of uantity and3oruality or Beneficial 5mpact
Created
Aater catchment (cistern orotherwise that contributes to
water supply. 6euse of greywater" or conservation thatreduces water consumption3s2foot or per occupant.
Fiber or other materialproduction from the building
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8aluation 0ethodology 0etadata0onetiation 0ethods and
/pplication in this 4ro Forma
$amples 5nclude /voidedCosts" 6eplacement Costs"Factor 5ncome" Travel Cost">edonic 4ricing" 0arginal4roduct Estimation"Contingent 8aluation" @roup8aluation" 0ar#et 4ricing
Lin#s to 0etadata on8aluation 0ethods
$amples 5nclude Ta! credits"ta! deductions" ecosystemservices payments" onetimeincentives" longtermstreams of payments"F=7?57@ 0EC>/75$0$"belowmar#et financing"grants" reduced capitalcosts" direct monetiationthrough increased rents"decrease turnover etc."impact fees" feebates"subsidies" loan guarantee"watershed improvementdistrict
0ar#et 8alues of 0ar#etTraded @oods
Estimate units (e.g. ccf of
water consumption avoidedand decrease proDectedwater bills accordingly
0ar#et value of materialsproduced
4ossible incentives basedon low to!icity or low
embodied energy
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8alue 6ealied by 4ublic8alue /ctually 6ealied in0odel
8alue 6ealied by 7eighbors3 /dDacent Buildings
?escription of Cells Ahere8alue is 0onetied in 4roForma
Estimated 0onetary 8alue/ccruing to other species"watersheds" neighboring
buildings" individuals
Estimated 0onetary 8alue/ccruing to neighbors 3adDacent buildings
$ee Aater and Aastewater5ncentives Aor#sheet
$ee Cash Flow 4roDectedAor#sheet" 0aterials4rovision 6ow
$ee Cash Flow 4roDectedAor#sheet" 0aterials
4rovision 6ow
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Energy 4rovision
Energy 4rovision
Food 4rovision
6E@=L/T57@ EC1$9$TE0 $E685CE$
0oderating the local heatisland e
5ndoor /ir uality
>uman ?isease Control
Aater 6egulation Aater filtration
Aater 6egulation
=pstream calc. of avoideddamage on the landscape e.g. avoided coal mining
Fossil fuel" electricity" heatingenergy production or coolingvalue
Biomass for humanconsumption" provided by a webof organisms and a functioningecosystem
Climate $tability andCarbon $e2uestration
value per ton ChicagoClimate E!change"$terns 8alue &'%''3ton can calculateavoided emissions
0aintaining a climate within astable range. This is facilitatedby the capture and longtermstorage of carbon as a part ofthe global carbon cycle. 1ceansalso play a crucial in role climatestabiliation.
Climate $tability andCarbon $e2uestration
$hift away from lump sumpayments to value anegative #ilowatt as anewly generated $eattleutility e!ample
Climate $tability andCarbon $e2uestration
Temperature 6egulation+Local Climate $tability
Temperature decreasefrom street trees"ecoroofs" painting roofsreflective colors" livingwalls
=ndisturbed ecosystems #eep in
chec# organisms which cancause disease in humans
Aater temperature average Temitted by green building
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Carbon se2uestion on site.
/voided carbon emissions.
Energy production from thesite or energy consumptionreduction values.
Transportation /ccess toAal#ing" Bi#ing" TransitCreates /voided EnergyTransportation Energy =se
Food produced on a rooftopgarden or elsewhere.
Building carbon budget.6elation to offsite carbonse2uestration area.
6eduction in heatisland effectdue to building structure.
/ir uality" waterborne
diseases" heat stro#e" outsidebuilding3inside buildings
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5ncentives for water 2uality
Estimate unitis (e.g. #Ah"therms of electricity ornatural gas consumptionavoided and decreaseproDected energy billsaccordinglyG =tility incentivesbased on units of energyefficiency (white tags
4ossible incentives basedon trip reduction
0ar#et value of foodproduced
Carbon credits based onavoided C1: emissions
Carbon credits based onavoided C1: emissions
Carbon credits based onavoided C1: emissions
5ncorporated in energymodelsH
5ncentives based ondecreased to!ic airemissions
5ncentives for watertemperature
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$ee Energy 5ncentivesAor#sheet
$ee Cash Flow 4roDectedAor#sheet" Transportation?emand 6eduction5ncentives
$ee Cash Flow 4roDectedAor#sheet" Food 4rovision
$ee Cash Flow 4roDectedAor#sheet" Carbon Credits
$ee Cash Flow 4roDectedAor#sheet" Carbon Credits
$ee Cash Flow 4roDectedAor#sheet" Carbon Credits
$ee Cash Flow 4roDectedAor#sheet" Energy5ncentives
$ee Cash Flow 4roDectedAor#sheet" 5ndoor /iruality 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Aater6egulation 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Aater6egulation 5ncentives
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Aater 6egulation
Aater 6egulation
$tormwater 0anagement
?rought recovery andgroundwater recharge value e.g. low flow is dangerous tosalmon" cree#s run dry thatnever ran dry before
6echarge a2uifier helps
generate drin#ing water(production function
/voided stormwaterG /lsoloo# at avoided capitalcosts to upgradeinfrastructure
$tormwater infiltration onsitereduces amount going tostormwater system
7atural >aard6egulation
Could this impactinsurance rates is thisbuilding more or lessstorm resistantG healthybuildings less impact on
human health shouldimprove insurance rates
earth2ua#e" fire" flood" winds"hurricanes"
Aaste /bsorption andBrea#down
?eto!ification or absorption ofnatural or humanmadecontaminants
Aaste /bsorption andBrea#down
Aaste /bsorption andBrea#down
Aaste /bsorption andBrea#down
Aaste /bsorption andBrea#down
Flood 4rotection andAater Flow 6egulation
Flood district fee adopted in :''" high fee
6etention and storage of freshwater" recharge of groundwater consider e!emption fromstormwater fee for livingbuildings since they dontcontribute to loads
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$torm water disposal on siteHContribution or reduction ofwaters flowing into stormwater systemsH
/ir 2uality+ contribution toindoor and outdoor air 2uality.
Aater 2uality removal ofhumanmade contamination+Building and site impact onwater 2uality measurablyreduced. /re waters fromother properties improved bythis property.
$ewage treatment 3 greywatertreatment biologicaldecontamination" nutrientremoval" chemical removal endocrine disruptors
$oil 2uality+ impact on overallsoil 2ualityH
Aaste recycling" nutrientremoval" waste disposal.
6eduction and attenuation offloodwaters. Aater redirectionto increase lowflow watersand reduce high flow waters.6eduction of floodwatersdownstream (down street.6echarge of groundwater.
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?ecreased insurance ratesH
5ncentives for water 2uantitywith seasonal schedule
5ncentives for water 2uantitywith seasonal schedule
Estimate units (e.g. ccf ofstormwater dischargeavoided and decreaseproDected stormwater billsaccordingly
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$ee Cash Flow 4roDectedAor#sheet" Aater6egulation 5ncentives
$ee Cash Flow 4roDected
Aor#sheet" Aater6egulation 5ncentives
$ee Aater and Aastewater5ncentives Aor#sheet
$ee Cash Flow 4roDectedAor#sheet" Aaste6egulation 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Aaste6egulation 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Aaste6egulation 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Aaste6egulation 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Aaste6egulation 5ncentives
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$horeline $tabiliation
5nsect 4est Control
$=4416T57@ EC1$9$TE0 $E685CE$
4ollination
>abitat
Ieeping shorelines in a state ofe2uilibrium with ocean waters"especially in the face of risingsea levels
4roviding $hade and$helter
$oil Formation J6etention
0aintenance of $oil>ealth
7utrient 6egulation andCycling
Transfer of nutrients from one
place to anotherG transformationof critical nutrients fromunusable to usable forms
0aintenance ofBiodiversity
The number and types ofspecies and the ecosystemsthey comprise. 0easured atgene" population" species"ecosystem" and regional levels.Biodiversity provides resilienceto ecosystems and economies.Biodiversity is the infrastructure
provisioning other ecosystemservices
0aintenance ofBiodiversity
4roviding for the life historyneeds of plants and animals.
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8alue of natural shorelineprotection or stabiliation withthe construction" for e!ample"conservation sea grass areaor natural beach conserved
7utrient movements and loads
outside wastes discussedabove. 7itrogen" phosphorus"potassium" etc.
Biodiversity support in areaaround building" or ruralac2uisition land related to thebuilding.
Contribution to salmonrestoration or other habitatbenefits with storm waterrecharging of groundwater onsite" wastewater treatment orother actions that havebiodiversity implications.
>abitat contribution" on andoffsite.
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$ee Cash Flow 4roDectedAor#sheet" $oil and 7utrient5ncentives
$ee Cash Flow 4roDectedAor#sheet" $oil and 7utrient5ncentives
$ee Cash Flow 4roDected
Aor#sheet" $oil and 7utrient5ncentives
$ee Cash Flow 4roDectedAor#sheet" Biodiversity and>abitat 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Biodiversity and>abitat 5ncentives
$ee Cash Flow 4roDectedAor#sheet" Biodiversity and>abitat 5ncentives
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"INTEGRATED REAL ESTATE INVESTMENT MODELING TOOL" By David Batker, Stuart Cowan, Ted
.ROTOT/.E VERSION *0)
REVISION5 OCTOBER (2, ()** 8 CONTACT Stuart Cowan, Auto#oie&i& LLC, &owan6a#oie&i&0o- o
!ORILDINGS
Type ?efinition
?efinition of Benefit
>uman >ealth Enhanced health 5ndoor /ir uality
>uman >ealth >ealthy 0aterials
>uman >ealth /sthma /voidance
>uman >ealth
Aor#er 4roductivity
Comfort
4athway to 8alue inBuilding uantity and3or uality ofBeneficial 5mpact Created
$pecific BuildingFeature(s @eneratingthis EnvironmentalBenefit
uantitative or ualitative/ssessment of 8alueCreated
Bioaccumulation/voidance
5ncreased wor#erproductivity (wor#
accomplished upGabsenteeism down
7atural 8entilationG /bilityto Control ThermalComfortG 7atural LightG
4resence of 4lantsG8iews" etc.
Enhanced perceivedcomfort (thermal" fresh airflow" visual stimuli
7atural 8entilationG /bilityto Control ThermalComfortG 7atural LightG4resence of 4lantsG8iews" etc.
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i !rit8Ca##e$$, and %a&on Twi$$ ' ()** +y Eart Eono-i&
7)189(2811(: ;or Co--ent& or 4ue&tion&
Estimated Total 8alue 8aluation 0ethodology 0etadata
0onetary 8alue Created asFunction of uantity and3oruality or Beneficial 5mpactCreated
$amples 5nclude /voidedCosts" 6eplacement Costs"Factor 5ncome" Travel Cost">edonic 4ricing" 0arginal4roduct Estimation"Contingent 8aluation" @roup8aluation" 0ar#et 4ricing
Lin#s to 0etadata on8aluation 0ethods
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8alue 6ealied by 4ublic0onetiation 0ethods and/pplication in this 4ro Forma 8alue /ctually 6ealied in0odel
$amples 5nclude Ta! credits"ta! deductions" ecosystemservices payments" onetimeincentives" longtermstreams of payments"F=7?57@ 0EC>/75$0$"belowmar#et financing"grants" reduced capitalcosts" direct monetiationthrough increased rents"decrease turnover etc."impact fees" feebates"subsidies" loan guarantee"watershed improvementdistrict
?escription of Cells Ahere8alue is 0onetied in 4roForma
Estimated 0onetary 8alue/ccruing to other species"watersheds" neighboringbuildings" individuals
/voided costs of healthissues caused by poor5ndoor /ir uality
$ee Cash Flow 4roDectedAor#sheet" 5ndoor /iruality 5ncentives
/voided costs of healthissues caused by to!icbuilding materials
$ee Cash Flow 4roDectedAor#sheet" >ealthy0aterials 5ncentives
/voided costs of healthissues caused by asthma
$ee Cash Flow 4roDectedAor#sheet" 5ndoor /iruality 5ncentives and>ealthy 0aterials 5ncentives
/voided costs of healthissues caused bybioaccumulation of to!imaterials
$ee Cash Flow 4roDectedAor#sheet" >ealthy0aterials 5ncentives
5ncremental value of wor#accomplished in high
performance building versusconventional buildings
$ee Cash Flow 4roDectedAor#sheet" Aor#er
4roductivity 5ncentives
5ncremental value ofincreased wor#erproductivity" decreasedemployee turnover" etc.
$ee Cash Flow 4roDectedAor#sheet" Comfort5ncentives
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8alue 6ealied by 7eighbors3 /dDacent Buildings
Estimated 0onetary 8alue/ccruing to neighbors 3adDacent buildings
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$atisfaction
AellBeing Enhanced wellbeing
Transportation 4edestrian access
Transportation Bi#ing access
Transportation $treetcar
Transportation Carpooling
Enhanced daytodaysatisfaction
7atural 8entilationG /bilityto Control ThermalComfortG 7atural LightG4resence of 4lantsG8iews" etc.
7atural 8entilationG /bilityto Control ThermalComfortG 7atural LightG4resence of 4lantsG8iews" etc.
1pportunities for multipletransportation choices can decrease cost"decrease stress" enhancepro!imity to desiredactivities
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5ncremental value ofincreased wor#erproductivity" decreasedemployee turnover" etc.
$ee Cash Flow 4roDectedAor#sheet" $atisfaction5ncentives
5ncremental value ofincreased wor#erproductivity" decreasedemployee turnover" etc.
$ee Cash Flow 4roDectedAor#sheet" AellBeing5ncentives
>oward Frum#in wor#ing to2uantify health benefits ofsmart growth communitiesG
/dditional benefits fromdecreased need to invest inconventional transportationinfrastructure (roads"par#ing" etc.G ?ecreased
commuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
>oward Frum#in wor#ing to2uantify health benefits ofsmart growth communitiesG
/dditional benefits fromdecreased need to invest inconventional transportationinfrastructure (roads"par#ing" etc.G ?ecreasedcommuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
>oward Frum#in wor#ing to2uantify health benefits ofsmart growth communitiesG
/dditional benefits fromdecreased need to invest inconventional transportationinfrastructure (roads"par#ing" etc.G ?ecreasedcommuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
>oward Frum#in wor#ing to
2uantify health benefits ofsmart growth communitiesG/dditional benefits fromdecreased need to invest inconventional transportationinfrastructure (roads"par#ing" etc.G ?ecreasedcommuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
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Transportation Carshare
Transportation Bus
Transportation Light 6ail
4lacema#ing 4laa or KThird $paceK
4lacema#ing Beauty
4lacema#ing $afety
4lacema#ing
4lacema#ing 4laces for Children
7ature ?eficit ?isorderCure
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>oward Frum#in wor#ing to2uantify health benefits ofsmart growth communitiesG
/dditional benefits fromdecreased need to invest inconventional transportation
infrastructure (roads"par#ing" etc.G ?ecreasedcommuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
>oward Frum#in wor#ing to2uantify health benefits ofsmart growth communitiesG
/dditional benefits fromdecreased need to invest inconventional transportationinfrastructure (roads"par#ing" etc.G ?ecreased
commuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
>oward Frum#in wor#ing to2uantify health benefits ofsmart growth communitiesG
/dditional benefits fromdecreased need to invest inconventional transportationinfrastructure (roads"par#ing" etc.G ?ecreasedcommuting e!pense versusdriving
$ee Cash Flow 4roDectedAor#sheet" Transportation1ptions $ocial 5ncentives
>edonic value created forwor#ers" residents" visitors"and general public byeffective placema#ing
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value created forwor#ers" residents" visitors"and general public byeffective placema#ing
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
/voided costs of crime"conventional security" etc.
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
/voided costs of health
issues related to 7ature?eficit ?isorder
$ee Cash Flow 4roDected
Aor#sheet" 4lacema#ing5ncentives
>edonic value created forchildren" wor#ers" residents"visitors" and general publicby effective placema#ing
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
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4lacema#ing 4laces for Elders
4lacema#ing
4lacema#ing
Biophilia Living Aall
Biophilia Filtering 4lants
Biophilia 5magery and /rtwor#
Biophilia Ecoroof
Biophilia @ardens
4sychological 8alue of
4ro!imity to BetweenFamily and Aor#
CollaborativeConsumption+ $haring6esources 6educesCosts
Ecosystem $ervices+/esthetic 8alues
The role which naturalbeauty plays in attractingpeople to live" wor# andrecreate in an area
?oes this building
contribute a net aestheticimprovement to thecommunity" does it fit withnatural systems. ?oes itraise property values inthe areaH ?oes it have aview of natural assets li#ethe Cascade 0ountainsor 4uget $oundH 5s thebuilding a blight toneighboring residentsH
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>edonic value created forelders" wor#ers" residents"visitors" and general publicby effective placema#ing
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value created forwor#ers and their families
through pro!imity betweenfamily and wor#
$ee Cash Flow 4roDected
Aor#sheet" 4lacema#ing5ncentives
/voided costs of eachindividual owning their owncar" tools" appliances" etc.
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value createdthrough enhancede!periences of biophilia
$ee Cash Flow 4roDectedAor#sheet" Biophilia5ncentives
>edonic value createdthrough enhancede!periences of biophilia
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value createdthrough enhancede!periences of biophilia
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value createdthrough enhancede!periences of biophilia
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value createdthrough enhancede!periences of biophilia
$ee Cash Flow 4roDectedAor#sheet" 4lacema#ing5ncentives
>edonic value createdthrough enhanced aesthetice!periences derived fromecosystem serices in thebuilt environment
$ee Cash Flow 4roDectedAor#sheet" /esthetic 8alues 5ncentives
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Ecosystem $ervices+$piritual 8alues
The roles whichecosystems and theircomponents play in thespiritual beliefs of people.This is especiallyimportant for indigenous
cultures. These values donot lend themselves wellto economic2uantification.
Building contribution tospiritual values
Ecosystem $ervices+6ecreational 8alues
The contribution ofecosystem features li#ebiological diversity andclean water in attractingpeople to engage inrecreational activities.
6ecreational and healthbenefits of the @reenbuilding and theinteractions with thelandscapeH
Ecosystem $ervices+$cientific and Educational
Ecosystems are thesubDect of much scientificstudy for both basic#nowledge and forunderstanding thecontribution of functioningecosystems to humanwellbeing.
Building contribution toscientific understanding ofthe connection betweenecosystem services andthe built environment.
Ecosystem $ervices+$cientific and Educational
Educational value forconnecting ecosystemservices and the builtenvironment.
Ecosystem $ervices+
Tourism
The e!plicit role that
innovative green buildingsplay in attracting visitors
Creation of building that is
an ecotourism destination
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>edonic value createdthrough enhanced spirituale!periences derived fromecosystem services in thebuilt environment
$ee Cash Flow 4roDectedAor#sheet" $piritual 8alues 5ncentives
>edonic value createdthrough enhanced spirituale!periences derived fromecosystem services in thebuilt environment
$ee Cash Flow 4roDectedAor#sheet" 6ecreational8alues 5ncentives
5ntellectual property and
innovation value derivedfrom proDects contributionsto enhanced scientificunderstanding of connectionbetween ecosystem servicesand the built environment
$ee Cash Flow 4roDectedAor#sheet" $cientific andEducational 8alues 5ncentives
Educational value derivedfrom connecting ecosystemservices to the builtenvironment
$ee Cash Flow 4roDectedAor#sheet" $cientific andEducational 8alues 5ncentives
>edonic value created
through ecological tourism toliving buildings
$ee Cash Flow 4roDected
Aor#sheet" Ecotourism1pportunities 5ncentives
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"INTEGRATED REAL ESTATE INVESTMENT MODELING TOOL" By David Batker, Stuart Cow
.ROTOT/.E VERSION *0)
REVISION5 OCTOBER (2, ()** 8 CONTACT Stuart Cowan, Auto#oie&i& LLC, &owan6a#oie
!OR
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an, Teddi !rit8Ca##e$$, and %a&on Twi$$ ' ()** +y Eart Eono-i&
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?escription 1ffered By /mount /vailable
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=$ @reen Building Council
Commissioning 4lan Funding $eattle City Light &"''' to %'"'''
ENERG/ E33ICIENC/
$eattle City Light
4uget $ound Energy
=.$. Treasury ?ept.
!ATER E33ICIENC/
Aater Efficiency 5ncentives $aving Aater 4artnership
@reen Triple 7et Lease
SOLAR ENERG/
Federal Ta! Credit =.$. Treasury ?ept.
$ales Ta! E!emption Aashington $tate
@reen Tags Cascade $olar Consulting
/ccelerated ?epreciation =.$. Treasury ?ept.
DESIGN, COMMISSIONING,AND LEED COSTS
Energy $cenario /nalysis?early ?esign /ssistance
City of $eattle ?epartment of4lanning and ?evelopment
Free 4latinum LEE?Certication
6ebate of certification fees forLEE? 4latinum building
Energy Efficiency 5ncentives
for Electricity
$ee KEnergy 5ncentivesK
Aor#sheet
Energy Efficiency 5ncentivesfor 7atural @as
=p to ,'; of incremental costfor specific componentsproviding increased naturalgas efficiency
=$ Energy 4olicy /ct of :''&>igh 4erformance BuildingsTa! ?eduction
Ta! deduction of %.'3sf forbuildings with &'; below codeenergy performance
$ee KAater and Aastewater5ncentivesK Aor#sheet
Aastewater Efficiency
5ncentivesO.ERATIONAL COSTSAVINGS
5ncorporated 5nto Financial0odel
/nnual rent up to first yeardemonstrable cost savingsfrom green building features
Ta! credit of -'; of eligiblecosts for 48 system
Aaived sales ta! for sales andinstallation of 48 and solar hot
water systems&P3#Ah to %'P3#Ah for solarenergy production
$olar and wind installationscan be depreciated over a &year period
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Cash 1ccupancy
Cash 1ccupancy
*:%")'' Cash 1ccupancy
Cash 1ccupancy
:"'''
-,"''' Cash 1ccupancy
:&%")') Cash (6ent
Federal Ta! Credit
1ccupancy
Cash
Type (Cash"
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Ta! 9ear of1ccupancy
Aith 6ent4ayments forentire term oflease
Ta! 9ear of1ccupancy
$tate $ales Ta!
Aaiver1ccupancy andongoing
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REVISION5 OCTOBER (2, ()** 8 CONTACT Stuart Cowan, Auto#oie&i& LLC, &owan6a#oie&i&0
!ORCTIONS
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!ORCTION .ERIOD INTEREST
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