Brooks Estate Master PlanDonovan D. Rypkema, a preservationist and economist made these comments in his presentation Economics, Sustainability, and Historic Preservation for a plenary

Brooks Estate Master Plan

Final Report and Suggestions

Sarah Brophy, Consultant

bMuse, Inc.

Easton, Maryland

November 21, 2011

To: Medford-Brooks Estate Land Trust (M-BELT) From: Sarah S. Brophy, consultant Date: 11/21/2011 Re: Final Report and Suggestions: Brooks Estate Master Plan In 30 years of management and consulting experience, I can confidently say that communities benefit significantly from the presence of accessible, engaging and well-maintained historic properties. Strong communities are characterized by Smart Growth. These principles are:

• Create range of housing opportunities and choices • Create walkable neighborhoods • Encourage community and stakeholder collaboration • Foster distinctive, attractive places with a Sense of Place • Make development decisions predictable, fair, and cost effective • Mix land uses • Preserve open space, farmland, natural beauty and critical environmental areas • Provide variety of transportation choices • Strengthen and direct development toward existing communities • Take advantage of compact built design.

The Brooks Estate project addresses six of those ten principles. Donovan D. Rypkema, a preservationist and economist made these comments in his presentation Economics, Sustainability, and Historic Preservation for a plenary session at the 2005 national conference for the National Trust for Historic Preservation:

The city tells it own past, transfers its own memory, largely through the fabric of the built environment. Historic buildings are the physical manifestation of memory – it is memory that makes places significant. The whole purpose of sustainable development is to keep that which is important, which is valuable, which is significant. The definition of sustainable development is ‘…the ability to meet our own needs without prejudicing the ability of future generations to meet their own needs.’ We need to use our cities and our historic resources in such a way that they are available to meet the needs of future generations as well. Historic preservation makes cities viable, makes cities livable, makes cities equitable.”

The Brooks Estate project makes a marvelous, once very exclusive, site accessible to the entire community in a myriad of ways, in a manner that is not a burden but an asset to the City of Medford. Donna Ann Harris, preservation consultant and widely-known author of the valuable book New Solutions for House Museums: Ensuring the Long-Term Preservation of America’s Historic Houses (AltaMira Press, 2007), writes that “The first challenge to house museum stewards facing a reuse decision is finding a use that fits the house, rather than to fit a use into a house.” I think that you have taken a very thoughtful, responsible approach to fitting the use to this property. I am suggesting some tweaks on packaging, partners and environmental sustainability that I believe will make it a bit more responsive to actual conditions, and will give you some flexibility to adapt to operating conditions over the years. This is based on new information and experiences collected from others since we worked together a few years ago at the beginning of this effort. 1

I. Site-use Formats and Rental Concepts In the first few years of operations you will need to generate your own site activities to drive visitation to the site and interest future renters. Though the time factor can be substantial, I trust that as this planning effort closes, some energy can be shifted to additional events such as teas, festivals, or camp-like programs. These will allow you and the event manager to learn about the property’s particular characteristics that offer opportunities or create restrictions in site use. That experience will improve your ability to target an audience most likely to be pleased by the experience, while keeping your event management activities manageable. You may offer these activities yourself, in partnership with a food or program vendor, or simply partner with a vendor who handles the entire event for s set fee to you. A. Wedding Rentals: Across the country these continue to be key sources of income for historic properties even in difficult economic times. This will be a major focus of your event manager’s efforts, of course. In addition to the sites and information cited in the original project, here are some others I’ve known recently. Though every site’s pricing varies and it’s impossible to compare ‘like’ with ‘like’, these support our pricing expectations. BelAir Mansion, Bowie, MD http://www.cityofbowie.org/LeisureActivities/Museum/museum_rentals.asp It’s a city-owned site with excellent rental guidelines. Price examples listed here.

1. Weekday Rentals, 9 a.m. to 5 p.m. Up to 75 guests: $75/hr. - minimum. 3 hours 2. Weeknight Rentals, 5 p.m. to 11 p.m. Up to 75 guests: $100/hr. - minimum 3 hours 3. Weekend Rentals (Friday Evening through Sunday Evening)

a. Bowie residents: $900/6 hours. Additional hours at $150/hr. b. Non-Bowie: $1,200/6 hours. Additional hours at $200/hr.

At The Webb-Dean-Stevens’ Museum, CT, The Webb Barn is the wedding site, and there are three historic houses available for touring under additional arrangement. http://www.webb-deane-stevens.org/weddings_and_event_rentals.html This has some interesting add-ons:

Rental Fee (4 hour event) 2011 Saturdays, holidays, and holiday weekends $2,500 Fridays & Sundays $2,000 Monday – Thursday $1,700

Refundable Damage Deposit $250 Wedding ceremonies and photography on the grounds included Optional Additional Costs Rehearsal fee $85 per hr Tent on Grass $300 Heating barn $200

• Rentals are for 4 hours with the option of booking one-two extra hours in advance for a fee of $300. Six hours is the maximum rental.

• Caterers are allowed to begin setting up 3 hours prior to the event. • There is an additional charge of $20 per person for events with more than 135 guests. 2

Linden Place, RI http://www.lindenplace.org/wedding_general.htm This is a major site much like the Brooks Estate will be, and it has a hefty fee and w well-developed rental procedure. 2011 Daily Rates Daily Rates (8 hours) *May - October Nov - April

Monday-Thursday $3,600 $2,500

Saturday $6,200 $3,700

Friday & Sunday $4,800 $2,900

2011 Hourly Rates

Hourly Rates *May - October Nov - April Monday-Thursday $475 $375

Saturday $800 $475

Friday - Sunday $625 $400

2012 Daily Rates

Daily Rates (8 hours) *May - October Nov - April

Monday-Thursday $3,900 $2,500

Saturday $6,500 $3,700

Friday & Sunday $5,100 $2,900

2012 Hourly Rates

Hourly Rates *May-October Nov - April Monday-Thursday $575 $350

Saturday $850 $475

Friday & Sunday $650 $400 May - October event prices include ,a 20x40 foot tent in courtyard adjacent to the ballroom with sides, lighting and hardwood flooring. November through April events must obtain a tent on their own, if desired, through a local rental company. B. Funerals, Memorial Gatherings: This has not been an area of service that historic sites fill regularly but I believe it is an overlooked opportunity that is very appropriate in general, and specifically to the Brooks Estate. The Estate’s setting is close, respectful, comfortable and special – all important attributes of an appropriate memorial reception. It is convenient yet not generic as are hotel and funeral home settings. You have a promotional team in place already with four Medford funeral 3

homes, and 102 others in the state who might find themselves providing services to Medford and the adjacent cemetery. I find that sites promote their memorial service availability only through the funeral home sites or the funeral directors’ sites, but I would encourage you to include this option on your list of services at your website. C. Meeting Rentals: Your AV capabilities in the large gathering space in the Carriage House will be critical for attracting this sort of customer. This will also mean having a manager onsite who is comfortable with the electronics and who can provide support to busy presenters who do not wish to deal with electronic glitches. Please do solicit contributions of first-class equipment, and discounts, but do not count on them. Promote the site not just to the obvious renters such as corporations and colleges, but also to the nonprofit associations who hold retreats or conferences. These range from funeral directors to museum associations, from health to social service. The Massachusetts Nonprofit Network is a good resource for this: http://www.massnonprofitnet.org/. D. Afternoon teas are a low-investment option that you could offer on your own or in partnership with a food vendor. The field seems to charge between $12 and $25 for prepared tea and a tour. Some sites allow for special scheduling including added instrumental music. Some sites have special days with multiple seatings, like for Mother’s Day, Valentine’s Day, etc. I am not suggesting weekly program, but seasonal or special event scheduling; privately-scheduled groups could be viable options. I would have the events manager handle these, with a contract with a local baker for the treats. With the number of cupcake shops appearing these days, perhaps you can capitalize on the trend while helping a new Medford-area business owner. Here are some sample links:

http://www.oatlands.org/ant/index.asp Oatlands, VA, a full season of tea events. http://www.wvcommerce.org/travel/travelplanner/event/Christmas_High_Tea__Historic_House_Tour/6958/default.aspx High Tea at Woman’s Club of Fairmont, WV. http://www.tudorplace.org/calendar.html Tudor Place, scroll through the page for a variety of tea events. http://www.blithewold.org/event/show/297 Blithewold Mansion, Gardens and Arboretum, example of tea and special program. E. Festival Venue: Although large events are very hard on a site, you might want to consider two or three a year in addition to the events you already hold. These additional events would be entirely managed by the festival ‘owner’, and you would receive either a fee for rental equal to the value of the property rental that day as if you were renting for a wedding, or a set percentage of income. Be sure to factor site set-up and site clean-up either into their agreement or your fee depending upon who does it. These events could include

• Green living festivals, or wedding showcase events • Weekend harvest festivals • Food festivals like chocolate or wine tasting, restaurant cook-offs or chowderfests

F. Program Site for other Agencies: You may want to provide your site to a program vendor that has a camp or an afterschool program but needs a space. You can limit your availability to the hours 4

and weeks that do not interfere with your wedding rentals. The advantage is that you’ll have someone else’s staff running events that bring parents of little learners to the property. I’d recommend you negotiate an overall use fee once you identify the right partner and understand their business model. G. Film Rentals: Of all the rental formats, this is the most demanding, but it has the advantage of a bringing in a chunk of income in a condensed period. The Massachusetts Film Office will provide promotion and advising. And the end result may be a film that brings you added recognition and participation – in the long run. The website www.mafilm.org lists locations: http://www.mafilm.org/locations/ and meeting/event spaces http://www.mafilm.org/production-guide/?c=Miscellaneous|Meeting/Event+Spaces

II. Environmental Sustainability: This is a growing movement that has many connections to your site: management for large events such as weddings, appeal to the “green” event genre for weddings or any other type of programming, and education using your landscape. Your positioning as an environmentally-conscious organization will be a very important, and could eventually create its own income boost. My book Environmental Sustainability: A Primer for Environmental Practice (AltaMira Press 2008) is currently the guide on this work in the museum field. Recent research by Reach Advisors, a northeast audience evaluation firm has clearly identified museums-goers and preservationists as people who consider environmental sustainability and important factor in making choices for weddings and special events, shopping and leisure. They choose heritage learning programs from gardening to keeping chickens, how to make rag rugs and can tomatoes. And they are willing to pay more for sustainable goods and services. This is not your only audience, so it motivates only a portion of your users, but for them it makes the final difference. III. Property Ambiance: This is the key to successful event rentals, and it is as much the entrance drive as the house, the gardens as the parking lot. Extravagant is not necessary, but well-kept is critical. You have the valuable package of what Olmstead called “Prospect and Refuge”: you have a view and you have a hidden space; discovering it coming up the drive is the selling point for your wedding crowd and your most important source of income. This means the entrance drive is a major factor. I am sure there is a road shoulder/water management design, and it hope it includes bioswales as an enhancement of otherwise simply utilitarian ditches. These water management tools not only help address stormwater runoff and erosion issues and improve the health (and appearance) of vegetation alongside the drive, but also contribute to substantially-reduce maintenance costs because the degree of water reduction significantly reduces frost-heave damage annually. This is a significant cost-avoidance you can factor into the project. Please try to limit chemical use on the roadway because of your natural location. I realize that permeable paving may be too expensive for most surfaces, but you it will be very valuable in the parking area, in order to reduce ice-buildup and slip-and-fall dangers, and to reduce the need for chemicals or salts that will be tracked into the structures. IV. Salary/Wages for Function Facilities Manager I continue to feel that providing a base salary with a commission is a good idea, but there are two caveats. I believe you will have to start higher than $20,000, and that you might have to start higher at first because it will take awhile for the commissions to develop. My guess is that you will have to start at $25,000 with the 15% commission paid upon completed events. Making base salary indirectly 5

proportionate to commissions (base salary goes down as commissions go up) is counterintuitive though, at least for the partially-motivated, so I would recommend expecting to step down the base salary after the second year to spur first-year activity, but not to drop it again after that. Also, if your function facilities manager leaves after a couple years of creating a user base, the new manager’s salary should be separate compensation package that takes into account the bookings the previous manager has already arranged and arranges for a split of commission if the new manager must implement the previous manager’s booking. You may decide that only your first or second manager work on a salary + commission basis, and subsequent managers work on a salary only, guaranteed by continued performance. This position, like the caretaker, can make or break the institution, and careful selection of a person with the right experience and right personality is critical, critical, critical, and oversight will be, too. For the first few years you should have weekly, the bi-weekly check-ins with reviews of financial commitments and effectiveness of promotion. The Bureau of Labor Statistics’ most appropriate job category is “Convention and Meeting Planner”. The income reporting shows: Median annual wages of meeting and convention planners in May 2008 were $44,260. The middle 50 percent earned between $34,480 and $57,820. The lowest 10 percent earned less than $27,450, and the highest 10 percent earned more than $74,610. In May 2008, median annual wages in the industries employing the largest numbers of meeting and convention planners were as follows”: (for full time employment; average for Metro Boston area is $53,000).

Management, scientific, and technical consulting services $49,600 Business, professional, labor, political, and similar organizations 47,670 Other support services 44,290 Colleges, universities, and professional schools 41,860 Traveler accommodation 41,470

V. Caretaker This is the other critical staff choice. This person must be a handyman (person) and a salesman, a gardener and a preservationist, and a happy person – not a recluse. Again, chose carefully and then invest in the person to create a long-term relationship. VI. Maximizing Income Property income recommendations assume an effective sales manager who is creative, active and self-managing. IT assumes that some days have multiple uses on site, even three different rooms let to three different groups on some days – weekdays for example. And it assumes a great variety of uses. This is a reasonable assumption because what you have to offer is a special space, indoors and out, that very few others have to offer. It is your commodity to capitalize on. Because your site does not have building frontage, it requires promotion in print and media to become more present in peoples’ minds. This ‘hidden’ aspect is an incredible value in an urban setting, and should be promoted to your advantage. Advertising is very important for developing name recognitions, but enticing all types of users to the site to try it on for themselves is what will sell this special place. Just as the museums of New York City once famously invited all the taxi cab drivers to their museums for free – thus dramatically 6

improving driver promotion of the sites and improving wayfinding – you should plan to invite your future partners through recruitment open house events for funeral directors, event organizers, wedding organizers, environmental educators, activity organizers looking for day hikes and flora identification sites. VII. Other Operational Costs I cannot comment on liability insurance, or utility costs (though I assume those are based on current costs plus added CH costs) and I agree that allowing for an annual utility increase is practical. A. Cleaning supplies: if you start with a green cleaning approach, especially one that relies on vinegar and water wherever health laws allow, you can achieve lower monthly cleaning supply costs by at least 50%. http://www.care2.com/greenliving/make-your-own-non-toxic-cleaning-kit.html We, the Brophy family, use these in our own home and they are fine for you: including for laundry (table cloths which the caterer does not take away), and dishwasher. http://www.care2.com/greenliving/make-your-own-eco-friendly-dishwasher-detergent.html. I strongly recommend this as the supplies take up less space, last longer and require fewer trips to the store, they cost significantly less, are very easy to make-up and conforms to your environmental ethic. B. Furnishings: I’d allow for some upfront purchases of furnishings that are not donated, but that you need to provide. For example, consider basic service ware for meetings and small events where they bring the food and beverage and you provide coffee and plates, etc. I understand you expect to have available, as part of your fee, table and chair purchases, cloths and service ware come in. Some wedding folks will want to rent their own to match their ‘look’ so if you provide furnishings in the fee, be ready with a negotiated answer. For furniture in the mansion, I suggest that a furniture store might donate the seating for small groups and for the bride and groom changing rooms. This is what BelAir Mansion (Bowie, MD) says it offers: 10 round tables (60" - seating 8 persons); 9 indoor rectangular six-foot tables; 75 indoor stacking chairs; 1 microwave oven; 1 commercial refrigerator & small icemaker; 2 compartment sink with 1 faucet. (Please note: There is no stove or freezer on site.) Additionally, if requested, the Mansion can provide: lectern, TV/VCR (1 available), slide projector and/or screen (1 available), overhead projector (1 available). Please be advised the Mansion has no facilities for internet connections for rentals C. Lawn Care: You’ll want to bid this out, of course; please do invite at least one lawn care company interested in environmental sustainability so you can consider the advantages of limiting chemicals for feeding and weed control, and fossil-fuel use for lawn and leaf service, on the site. My guess is that this cost will be larger than budgeted, each year, perhaps in the $2000 range, unless the caretaker manages the weekly lawncare activities and the current costs reflect extra help at the beginning or close of the season. This annual cost could also be less than $2000 if you have solid support from volunteer teams– either once-a-week group volunteers who work together, or smaller teams who rotate responsibilities for two-week periods during the growing season. Composting onsite may allow you to reduce fertilizer and mulching costs further, and your lawn care team can help with or handle this if the caretaker does not. I would definitely pursue low-chemical management, given your sensitive area. 7

What this chart shows

Income over 20 years and Expenses over 20 years (with contingent Enhancement spending)

Cost of full P/I over 20 years is shown (will be less if amortized before 20 years)

Chart 1 - Summary Income and Expenses (20 years)

Total income $6,968,557 Total expenses $6,782,241

Operating Expenses $1,830,893

Construction costs $3,200,000

Carriage House Income $5,825,335

Manor Income $993,139

Caretaker Income $150,083

Cost of financing (interest) $901,348

Startup expenses $100,000

$2.3 million bond @ 3.5%

Enhancements (contingent) $750,000

= Amount of debt remaining, by year

= Annual net income applied to pay off debt ‘


Initial debt (Principal and Interest) (Year 1) is $3,201,348 on a $2.3 million bond at 3.5% interest (20 years)

Each year net income is applied to reduce debt (amortization)

Debt is completely paid (amortized) in approximately Year 18, based on these income projections

Chart 2 - Amortization of Capital Investment

Debt

Amount applied to debt

-$200,000

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

$2,200,000

$2,400,000

$2,600,000

$2,800,000

$3,000,000

$3,200,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Series1Series2Series3

= Annual income


The rental income grows conservatively in Years 1 to 9, levels off at Year 10, with price increases thereafter

The function rental business is generally quite profitable, particularly weddings and similar celebration-type events.

Chart 3 - Income and Direct Operating Expenses

= Direct operating expenses by year

Year


Shows Year 1 to Year10 (full utilization). Rentals/income thereafter based on Year 10 level, plus price increases.

“Rental event” is any paid rental of a single room in Manor, Carriage House, or combo rentals

There are approximately 248 days available per year for indoor and outdoor rentals.

Note: Approximately 60% of all rental income involves active or background use of the Manor Yard.

Chart 4 - Annual Paid Rental Events (10 years)

Year

= Rental events - Manor

= Rental events - Manor

31

5264

7784

102112

120128

135

1222

5366

89101

108117 121

129

43

74

117

143

173

203

220

237249

264

1 2 3 4 5 6 7 8 9 10

= Number of Manor rental events

= Number of Carriage House rentals

= Total rental events per year

Chart 5 - Income by Source and Year (20 years)

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Carriage House Income $5,825,335 83.6%


All income by source and %

Carriage House (including Lawn) is main income source

Majority of Manor income includes use of the grounds

Manor Income $993,139 14.3%

Year

Caretaker Income $150,083 2.2%

Chart 6 - Operating Costs by Type

$0$3,000$6,000$9,000

$12,000$15,000$18,000$21,000$24,000$27,000$30,000$33,000$36,000$39,000$42,000$45,000$48,000$51,000$54,000$57,000$60,000$63,000$66,000$69,000$72,000$75,000$78,000$81,000$84,000$87,000$90,000$93,000$96,000$99,000

$102,000

1 2 3 4 5 6 7 8 9 10

Tota

l - Y

ear

1

Tota

l - Y

ear

5

Tota

l - Y

ear

6

Tota

l - Y

ear

7

Tota

l - Y

ear

8

Tota

l - Y

ear

9

Tota

l - Y

ear

10

Tota

l - Y

ear

2

Tota

l - Y

ear

3

Tota

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4

Expense Types

Year

(10 years)

Utilities

Supplies

vv

General maintenance

Function Manager salary/commission

Liability insurance

Total direct operating expenses

What this chart shows [All numbers rounded up]

Annual direct operating expenses

Individual, regular expenses are increased 5% per year

A few expenses, such as access drive maintenance are periodic, but not annual

Expenses in Years 11-20 are similar, with allowance for inflation, except that Function Manager expense flattens out as full capacity utilization is reached

Brooks Estate Business Plan: Summary of Overall Costs and Income Page 1

Cost Projection - 20 YearA - Construction and Restoration $3,200,000B - Startup Costs $100,000 [ marketing, FM startup, etc.]

C - Interest on Financing $901,348 [ 20 years' of payments; will be less as/if amortization occurs earlier]

D - Direct Operating costs $1,830,893 [ includes 20 years of operations; includes cost adjustments]

E - Enhancements to Property $750,000 [contingent upon available cashflow]

TOTAL COSTS $6,782,241

Income Projection - 20 Year

A - Manor - Facility Rentals $993,139B - Manor - Caretaker Rent $150,082C - Carriage House - Facility Rentals $5,825,335

TOTAL INCOME $6,968,556

Brooks Estate Business Plan: Cost Details Page 2

A - Construction and Restoration

Manor $200,000Carriage House (with design) $2,000,000Access Drive / infrastructure $1,000,000

Sub-total $3,200,000

B - Startup Costs

Marketing $25,000Facility Manager (initial subsidy) $40,000Other costs paid directly by M-BELT $35,000

Sub-total $100,000

C - Interest Payments

Interest payments (20 year bond) $901,348 ($2.3 million at 3.5%)

Sub-total $901,348

D - Direct Operating costs

20 years of direct operating costs Sub-total $1,830,893

E - Enhancements to PropertySub-total $750,000

Total all costs $6,782,241

$3,300,000 Total capital costs

Brooks Estate Business Plan: Income Details Page 3

A - Manor Facility Rentals Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10$7,350 $14,650 $25,055 $30,670 $38,450 $42,225 $37,425 $42,125 $44,850 $50,000

Sub-total $993,139 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

$52,500 $55,125 $57,881 $60,775 $63,814 $67,005 $70,355 $73,873 $77,566 $81,445

B - Manor - Caretaker Rental Income Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10$5,040 $5,242 $5,451 $5,669 $5,896 $6,132 $6,377 $6,632 $6,898 $7,173

Sub-total $150,082 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

$7,460 $7,759 $8,069 $8,392 $8,728 $9,077 $9,440 $9,817 $10,210 $10,619

C - Carriage House Facility Rentals Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10$25,350 $42,950 $97,800 $117,875 $195,525 $218,875 $226,950 $276,800 $297,150 $312,550

Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20Sub-total $5,825,335 $326,615 $341,312 $356,671 $372,722 $389,494 $407,021 $425,337 $444,478 $464,479 $485,381

Total all income $6,968,556

Brooks Estate Business Plan: Capital Funding Sources and Amounts Page 4

A - Private Contributions

M-BELT direct contribution

Sub-total $100,000

B - Chapter 90 / Other Source

Funds for access drive / infrastructure

Sub-total $900,000

C - General Bond

For construction and restoration of the Carriage House and the Manor

Sub-total $2,300,000

Total all funding $3,300,000

Brooks Estate Business Plan: Costs and Income by Year Page 5

Costs Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Amortization of Debt (20-year bond) $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068

Utilities $5,900 $6,165 $6,493 $6,815 $7,142 $7,474 $7,813 $8,178 $8,556 $8,952 $9,414 $9,911 $10,423 $10,971 $11,567 $12,173 $12,805 $13,495 $14,198 $14,942

General Repairs / preventive maintenance $14,000 $13,650 $14,333 $17,049 $15,802 $16,592 $20,421 $18,292 $19,207 $23,167 $21,176 $22,234 $27,346 $24,513 $25,739 $31,526 $28,377 $29,796 $36,786 $32,850

Supplies $1,375 $1,561 $1,599 $1,639 $1,681 $1,750 $1,822 $1,920 $2,021 $2,105 $2,166 $2,240 $2,307 $2,387 $2,465 $2,547 $2,628 $2,722 $2,810 $2,907

Function Manager

Base salary $25,000 $25,000 $25,000 $25,000 $25,000 $26,250 $26,250 $27,500 $28,000 $28,750 $29,250 $30,000 $30,335 $30,500 $31,923 $32,088 $32,925 $33,008 $33,845 $33,928

Commission rate 15% 15% 12% 11% 10% 10% 9% 8% 7% 7% 7% 7% 6% 6% 6% 6% 6% 6% 5% 5%

Commission paid $4,905 $8,640 $14,743 $16,340 $23,398 $26,110 $23,794 $25,514 $23,940 $25,379 $26,538 $27,751 $24,873 $26,010 $27,198 $28,442 $29,742 $31,101 $27,102 $28,341

Total cost of Function Manager $29,905 $33,640 $39,743 $41,340 $48,398 $52,360 $50,044 $53,014 $51,940 $54,129 $55,788 $57,751 $55,208 $56,510 $59,121 $60,530 $62,667 $64,109 $60,947 $62,269

Misc. Costs (Liability Insurance) $2,800 $2,940 $3,087 $3,241 $3,403 $3,574 $3,752 $3,940 $4,137 $4,344 $4,561 $4,789 $5,028 $5,280 $5,544 $5,821 $6,112 $6,418 $6,739 $7,075

[Sub-total] Direct Operating Costs only $53,980 $57,956 $65,255 $70,085 $76,426 $81,750 $83,851 $85,344 $85,860 $92,696 $93,105 $96,925 $100,312 $99,661 $104,437 $112,597 $112,589 $116,539 $121,480 $120,044

Enhancements to property / long-term care $0 $0 $0 $0 $0 $15,000 $30,000 $40,000 $50,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $65,000 $55,000 $30,000 $20,000 $10,000

[Further landscape, environmental, etc.]

TOTAL COSTS BY YEAR (with amortization of debt) $214,048 $218,024 $225,323 $230,153 $236,494 $256,818 $273,919 $285,412 $295,928 $312,764 $318,173 $326,993 $335,380 $339,729 $349,505 $337,665 $327,657 $306,607 $301,548 $290,112

Income Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Manor - Facility rentals $7,350 $14,650 $25,055 $30,670 $38,450 $42,225 $37,425 $42,125 $44,850 $50,000 $52,500 $55,125 $57,881 $60,775 $63,814 $67,005 $70,355 $73,873 $77,566 $81,445

Caretaker Rental Income $5,040 $5,242 $5,451 $5,669 $5,896 $6,132 $6,377 $6,632 $6,898 $7,173 $7,460 $7,759 $8,069 $8,392 $8,728 $9,077 $9,440 $9,817 $10,210 $10,619

Carriage House - Function Income $25,350 $42,950 $97,800 $117,875 $195,525 $218,875 $226,950 $276,800 $297,150 $312,550 $326,615 $341,312 $356,671 $372,722 $389,494 $407,021 $425,337 $444,478 $464,479 $485,381

TOTAL INCOME BY YEAR $37,740 $62,842 $128,306 $154,214 $239,871 $267,232 $270,752 $325,557 $348,898 $369,723 $386,575 $404,196 $422,622 $441,889 $462,036 $483,103 $505,132 $528,168 $552,256 $577,444

Brooks Estate Business Plan: Amortization (Payback) of Capital Investment Page 6

SummaryTotal amount Financed (P/I) $3,201,348 (for full bond term of 20 years)

Principal $2,300,000and Interest $901,348

Annual P/I (over 20 years) $160,068

NOTE: If income that exceeds expenses is applied annually to the debt, payoff is projected in approximately Year 18

Details Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Annual P/I $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $142,248 $0 $0 $0

Total income $37,740 $62,842 $128,306 $154,214 $239,871 $267,232 $270,752 $325,557 $348,898 $369,723 $386,575 $404,196 $422,622 $441,889 $462,036 $483,103 $505,132 $528,168 $552,256 $577,444

Total direct operating costs $53,980 $57,956 $65,255 $70,085 $76,426 $81,750 $83,851 $85,344 $85,860 $92,696 $93,105 $96,925 $100,312 $99,661 $104,437 $112,597 $112,589 $116,539 $121,480 $120,044

Enhancements to property / long-term care $0 $0 $0 $0 $0 $15,000 $30,000 $40,000 $50,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $65,000 $55,000 $30,000 $20,000 $10,000

Amount applied to annual P/I (until payoff) -$16,240 $4,885 $63,052 $84,129 $163,445 $170,482 $156,901 $200,213 $213,037 $217,027 $228,470 $237,272 $247,310 $262,228 $272,599 $305,506 $337,543 $344,380 $410,776 $447,399

PAYOFF

Balance on total amount financed $3,201,348 $3,196,463 $3,133,411 $3,049,282 $2,885,837 $2,715,355 $2,558,454 $2,358,240 $2,145,203 $1,928,176 $1,699,706 $1,462,434 $1,215,125 $952,897 $680,298 $374,793 $37,249 $0 $0 $0

P/I payments exceed annual P/I amount (paying down balance faster)

Brooks Estate Business Plan: Manor Costs Detail Page 7

P/I Allocated to the Manor Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

$2,300,000 principal at 3.50% per annum Total monthly payment = $13,339 Annual P/I allocated $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822 $52,822

Percentage allocated to Manor = 33% to ManorPayment allocated to Manor $4,402

Utilities (increase at 5% per year) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Furnance/heating Actual cost $2,000 $2,100 $2,205 $2,315 $2,431 $2,553 $2,680 $2,814 $2,955 $3,103 $3,258 $3,421 $3,592 $3,771 $3,960 $4,158 $4,366 $4,584 $4,813 $5,054

minus Caretaker share of 40% $800 $840 $882 $926 $972 $1,021 $1,072 $1,126 $1,182 $1,241 $1,266 $1,291 $1,317 $1,343 $1,370 $1,398 $1,426 $1,454 $1,483 $1,513= Net Cost $1,200 $1,260 $1,323 $1,389 $1,459 $1,532 $1,608 $1,689 $1,773 $1,862 $1,992 $2,129 $2,275 $2,428 $2,590 $2,760 $2,940 $3,130 $3,330 $3,541

Electricity

Actual cost $1,200 $1,260 $1,323 $1,389 $1,459 $1,532 $1,608 $1,689 $1,773 $1,862 $1,955 $2,052 $2,155 $2,263 $2,376 $2,495 $2,619 $2,750 $2,888 $3,032minus Caretaker share 25% $300 $315 $331 $347 $365 $383 $402 $422 $443 $465 $475 $484 $494 $504 $514 $524 $535 $545 $556 $567

= Net Cost $900 $945 $992 $1,042 $1,094 $1,149 $1,206 $1,266 $1,330 $1,396 $1,480 $1,568 $1,661 $1,759 $1,862 $1,971 $2,085 $2,205 $2,332 $2,465

Water filter system $300 $300 $325 $340 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $375 $375 $375 $400 $400 $400

General Repairs / Maintenance (5% increase per year) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

General repairs / preventative maintenance $6,000 $6,300 $6,615 $6,946 $7,293 $7,658 $8,041 $8,443 $8,865 $9,308 $9,773 $10,262 $10,775 $11,314 $11,880 $12,474 $13,097 $13,752 $14,440 $15,162

Lawn care / Historic Core Landscape $600 $630 $662 $695 $729 $766 $804 $844 $886 $931 $977 $1,026 $1,078 $1,131 $1,188 $1,247 $1,310 $1,375 $1,444 $1,516

Supplies Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Bathroom supplies $200 $300 $300 $300 $300 $325 $350 $350 $375 $400 $400 $410 $410 $420 $420 $425 $425 $435 $435 $440

Cleaning Supplies $450 $500 $500 $500 $500 $500 $500 $550 $575 $580 $585 $590 $595 $600 $610 $615 $620 $625 $630 $635

Other supplies $100 $105 $110 $116 $122 $128 $134 $141 $148 $155 $163 $171 $180 $189 $198 $208 $218 $229 $241 $253

Function Manager Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Base pay set above 33.0% allocated to Manor $8,250 $8,250 $8,250 $8,250 $8,250 $8,663 $8,663 $9,075 $9,240 $9,488 $9,653 $9,900 $10,011 $10,065 $10,535 $10,589 $10,865 $10,893 $11,169 $11,196

Commission rate set above commission rate 15% 15% 12% 11% 10% 10% 9% 8% 7% 7% 7% 7% 6% 6% 6% 6% 6% 6% 5% 5%

commission paid on Manor rentals $1,103 $2,198 $3,007 $3,374 $3,845 $4,223 $3,368 $3,370 $3,140 $3,500 $3,675 $3,859 $3,473 $3,647 $3,829 $4,020 $4,221 $4,432 $3,878 $4,072

Miscellaneous Costs Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Liability Insurance - premises (rises 5% per year) $1,400 $1,470 $1,544 $1,621 $1,702 $1,787 $1,876 $1,970 $2,068 $2,172 $2,280 $2,394 $2,514 $2,640 $2,772 $2,910 $3,056 $3,209 $3,369 $3,538

Manor Total Costs by Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

$77,625 $79,595 $81,190 $82,372 $83,692 $85,389 $85,485 $86,920 $87,925 $89,634 $91,104 $92,731 $93,701 $95,246 $97,300 $98,991 $100,981 $102,842 $104,231 $106,207

Brooks Estate Business Plan: Manor Facility Rental Income Detail Page 8

NOTE: Detailed (room by room) rates and income are shown for Years 1 to10; Medford residents get discount. Capacity will have maximized by Year 10, thus only summary income is shown for Years 11 to 20 (with 5% annual increase)

Manor: Parlor Rentals Parlor Rentals - Income by Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Total $ by year $700 $1,000 $1,425 $1,500 $2,250 $4,050 $5,700 $6,000 $6,750 $7,650 $8,033 $8,434 $8,856 $9,299 $9,764 $10,252 $10,764 $11,303 $11,868 $12,461

Year 1 In Season DAY number EVENING number WEEKEND number rate $100 1 (Medford) rate $100 2 (Medford) rate $0 0 (Medford) rate $250 0 (non-Med.) rate $250 0 (non-Med.) rate $0 0 (non-Med.)

Year 1 Off Season DAY number EVENING number WEEKEND rate $100 2 (Medford) rate $100 2 (Medford) rate $0 0 (Medford)rate $250 0 (non-Med.) rate $250 0 (non-Med.) rate $0 0 (non-Med.)

Year 2 In Season DAY number EVENING number WEEKEND number rate $100 3 (Medford) rate $100 2 (Medford) rate $0 0 (Medford)rate $250 0 (non-Med.) rate $250 0 (non-Med.) rate $0 0 (non-Med.)

Year 2 Off Season DAY number EVENING number WEEKEND number rate $100 3 (Medford) rate $100 2 (Medford) rate $0 0 (Medford)rate $250 0 (non-Med.) rate $250 0 (non-Med.) rate $0 0 (non-Med.)

Year 3 In Season DAY number EVENING WEEKEND rate $125 3 (Medford) rate $100 3 (Medford) rate $0 0 (Medford)rate $300 0 (non-Med.) rate $250 0 (non-Med.) rate $0 0 (non-Med.)

Year 3 Off Season DAY number EVENING WEEKEND rate $125 3 (Medford) rate $125 3 (Medford) rate $0 0 (Medford)rate $300 0 (non-Med.) rate $300 0 (non-Med.) rate $0 0 (non-Med.)









Year 8 In Season DAY number EVENING WEEKEND rate $150 9 (Medford) rate $150 6 (Medford) rate $150 0 (Medford)rate 1 (non-Med.) rate $300 1 (non-Med.) rate $300 1 (non-Med.)






Manor: Dining Room rentals Dining Room Rentals - Income by Year page 9 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Total $ by year $500 $800 $1,255 $1,970 $2,650 $2,775 $3,425 $4,150 $5,000 $4,750 $4,988 $5,237 $5,499 $5,774 $6,062 $6,365 $6,684 $7,018 $7,369 $7,737


















Year 9 Off Season DAY number EVENING WEEKEND rate $100 9 (Medford) rate $100 7 (Medford) rate $0 0 (Medford)rate $250 2 (non-Med.) rate $250 2 (non-Med.) rate $0 0 (non-Med.) #REF!



Library Rentals - Income by Year page 10Manor: Library rentals Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Total$ by year $700 $1,400 $2,125 $2,250 $3,000 $3,300 $3,300 $4,525 $4,550 $4,550 $4,778 $5,016 $5,267 $5,531 $5,807 $6,097 $6,402 $6,722 $7,059 $7,411



















Year 10 In Season DAY number EVENING WEEKEND rate $175 9 (Medford) rate $175 4 (Medford) rate $0 0 (Medford)rate $325 0 (non-Med.) rate $325 0 (non-Med.) rate $0 0 (non-Med.)0


Manor: First Floor Combo rentals (Event held in all rooms on first floor) Manor First Floor Combo - Income by Year page 11 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Total $ by year $5,450 $11,450 $20,250 $24,950 $30,550 $32,100 $25,000 $27,450 $28,550 $33,050 $34,703 $36,438 $38,260 $40,172 $42,181 $44,290 $46,505 $48,830 $51,271 $53,835

Year 1 In Season DAY number EVENING number WEEKEND number rate $650 1 (Medford) rate $500 1 (Medford) rate $1,000 1 (Medford)rate $1,300 0 (non-Med.) rate $1,000 0 (non-Med.) rate $2,000 0 (non-Med.)

Year 1 Off Season DAY number EVENING WEEKEND rate $500 1 (Medford) rate $400 1 (Medford) rate $800 1 (Medford)rate $1,000 0 (non-Med.) rate $800 0 (non-Med.) rate $1,600 1 (non-Med.)

Year 2 In Season DAY number EVENING WEEKEND rate $650 1 (Medford) rate $500 1 (Medford) rate $1,000 2 (Medford)rate $1,300 0 (non-Med.) rate $1,000 1 (non-Med.) rate $2,000 1 (non-Med.)

Year 2 Off Season DAY number EVENING WEEKEND rate $500 1 (Medford) rate $400 2 (Medford) rate $800 1 (Medford)rate $1,000 0 (non-Med.) rate $800 0 (non-Med.) rate $1,600 2 (non-Med.)


Year 3 Off Season DAY number EVENING WEEKEND rate $500 1 (Medford) rate $400 2 (Medford) rate $1,000 1 (Medford)rate $1,000 1 (non-Med.) rate $800 0 (non-Med.) rate $2,000 3 (non-Med.)


Year 4 Off Season DAY number EVENING WEEKEND rate $500 1 (Medford) rate $400 3 (Medford) rate $1,000 2 (Medford)rate $900 2 (non-Med.) rate $800 0 (non-Med.) rate $2,000 2 (non-Med.)


Year 5 Off Season DAY number EVENING WEEKEND rate $750 2 (Medford) rate $400 2 (Medford) rate $1,200 1 (Medford)rate $1,500 1 (non-Med.) rate $1,000 0 (non-Med.) rate $2,400 2 (non-Med.)

Year 6 In Season DAY number EVENING number WEEKEND number rate $850 2 (Medford) rate $750 2 (Medford) rate $1,500 2 (Medford)rate $1,700 1 (non-Med.) rate $1,500 2 (non-Med.) rate $3,200 3 (non-Med.)




Year 8 In Season DAY number EVENING WEEKEND rate $1,000 2 (Medford) rate $850 2 (Medford) rate $1,750 2 (Medford)rate $1,900 2 (non-Med.) rate $1,700 3 (non-Med.) rate $3,600 1 (non-Med.)


--------------------------------Year 9 In Season

DAY number EVENING WEEKEND rate $1,000 2 (Medford) rate $850 2 (Medford) rate $1,750 2 (Medford)rate $1,900 2 (non-Med.) rate $1,700 3 (non-Med.) rate $3,600 1 (non-Med.)


Year 10 In Season DAY number EVENING WEEKEND rate $1,000 2 (Medford) rate $850 2 (Medford) rate $1,750 2 (Medford)rate $2,000 2 (non-Med.) rate $1,700 3 (non-Med.) rate $3,600 1 (non-Med.)


Brooks Estate Business Plan: Caretaker Rental Income Detail Page 12

Rent by year[Caretaker will also have maintenance and other responsibilities]

Year Monthly Rent (with 4% annual increase) Caretaker Rental Income by YearYear 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

1 $420 $5,040 $5,242 $5,451 $5,669 $5,896 $6,132 $6,377 $6,632 $6,898 $7,173 $7,460 $7,759 $8,069 $8,392 $8,728 $9,077 $9,440 $9,817 $10,210 $10,6192 $4373 $4544 $4725 $491 $150,082 Total rent over 20 years6 $5117 $5318 $5539 $57510 $59811 $62212 $64713 $67214 $69915 $72716 $75617 $78718 $81819 $85120 $885

Brooks Estate Business Plan: Carriage House Costs Detail Page 13

P/I Allocated to the Carriage House

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

20-year Bond $2,300,000 principal at 3.50%Total monthly payment = $13,339Percentage allocated to C.H. = 67% Annual P/I allocatedPayment allocated to C.H. $8,937 to Carriage House $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246 $107,246

Utilities (increase at 5% per year)Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Furnance/heating Actual cost $2,000 $2,100 $2,205 $2,315 $2,431 $2,553 $2,680 $2,814 $2,955 $3,103 $3,258 $3,421 $3,592 $3,771 $3,960 $4,158 $4,366 $4,584 $4,813 $5,054

0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%= Net Cost $2,000 $2,100 $2,205 $2,315 $2,431 $2,553 $2,680 $2,814 $2,955 $3,103 $3,258 $3,421 $3,592 $3,771 $3,960 $4,158 $4,366 $4,584 $4,813 $5,054

ElectricityActual cost $1,200 $1,260 $1,323 $1,389 $1,459 $1,532 $1,608 $1,689 $1,773 $1,862 $1,955 $2,052 $2,155 $2,263 $2,376 $2,495 $2,619 $2,750 $2,888 $3,032

0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%= Net Cost $1,200 $1,260 $1,323 $1,389 $1,459 $1,532 $1,608 $1,689 $1,773 $1,862 $1,955 $2,052 $2,155 $2,263 $2,376 $2,495 $2,619 $2,750 $2,888 $3,032

Water filter system $300 $300 $325 $340 $350 $360 $360 $370 $375 $380 $380 $390 $390 $400 $405 $415 $420 $425 $435 $450

General Repairs / Preventative Maintenance Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

General repairs $6,000 $6,300 $6,615 $6,946 $7,293 $7,658 $8,041 $8,443 $8,865 $9,308 $9,773 $10,262 $10,775 $11,314 $11,880 $12,474 $13,097 $13,752 $14,440 $15,162

Drive maintenance (periodic) $1,000 $0 $0 $2,000 $0 $0 $3,000 $0 $0 $3,000 $0 $0 $4,000 $0 $0 $4,500 $0 $0 $5,500 $0

Other $400 $420 $441 $463 $486 $511 $536 $563 $591 $621 $652 $684 $718 $754 $792 $832 $873 $917 $963 $1,011

Supplies Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Bathroom supplies $200 $210 $221 $232 $243 $255 $268 $281 $295 $310 $326 $342 $359 $377 $396 $416 $437 $458 $481 $505

Cleaning supplies $300 $315 $331 $347 $365 $383 $402 $422 $443 $465 $489 $513 $539 $566 $594 $624 $655 $688 $722 $758

Other supplies $125 $131 $138 $145 $152 $160 $168 $176 $185 $194 $204 $214 $224 $236 $247 $260 $273 $287 $301 $316

Staffing - Function ManagerYear 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

$25,000 Base pay 67.0% allocated to C.H. $16,750 $16,750 $16,750 $16,750 $16,750 $17,588 $17,588 $18,425 $18,760 $19,263 $19,598 $20,100 $20,435 $20,435 $21,775 $21,775 $22,613 $22,613 $23,450 $23,450 [Commission included in Summary just below]

Miscellaneous CostsYear 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Liability Insurance - (rises 5% per year) $1,400 $1,470 $1,544 $1,621 $1,702 $1,787 $1,876 $1,970 $2,068 $2,172 $2,280 $2,394 $2,514 $2,640 $2,772 $2,910 $3,056 $3,209 $3,369 $3,538

Carriage House - Cost Summary Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

(includes commissions paid to function facility manager)

TOTAL by Year $136,796 $136,371 $136,999 $139,648 $138,324 $139,870 $143,604 $142,222 $143,371 $147,728 $145,955 $147,404 $152,723 $149,766 $152,195 $157,843 $155,381 $156,641 $164,307 $160,205

Brooks Estate Business Plan: Carriage House Facility Rental Income Detail Page 14

NOTE: Detailed breakout for Years 1 to 10; Years 11 to 20 based on Full Carriage House Rentals - Income by Year

capacity maximization - income includes 4.5% annual price rise Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Full Carriage House Rentals Total $ by year $4,650 $12,450 $28,800 $35,275 $50,525 $60,675 $57,150 $72,300 $79,550 $85,450 $89,295 $93,314 $97,513 $101,901 $106,486 $111,278 $116,286 $121,518 $126,987 $132,701

Year 1 In Season In Season In Season Total Rental DaysDAY number EVENING number WEEKEND number rate $650 1 (Medford) rate $500 1 (Medford) rate $1,000 1 (Medford) 3rate $1,300 0 (non-Med.) rate $1,000 0 (non-Med.) rate $2,000 0 (non-Med.) 0

Year 1 Off Season Off Season Off SeasonDAY number EVENING WEEKEND rate $500 1 (Medford) rate $400 1 (Medford) rate $800 1 (Medford) 3rate $1,000 0 (non-Med.) rate $800 1 (non-Med.) rate $1,600 0 (non-Med.) 1

--------------------------------Year 2 In Season In Season In Season

DAY number EVENING WEEKEND rate $650 1 (Medford) rate $500 2 (Medford) rate $1,000 1 (Medford) 4rate $1,300 1 (non-Med.) rate $1,000 1 (non-Med.) rate $2,000 1 (non-Med.) 3

Year 2 Off Season Off Season Off SeasonDAY number EVENING WEEKEND rate $500 1 (Medford) rate $400 2 (Medford) rate $800 1 (Medford) 4rate $1,000 1 (non-Med.) rate $800 1 (non-Med.) rate $1,600 1 (non-Med.) 3

-------------------------------- Year 3 In Season In Season In Season


Year 3 Off Season Off Season Off SeasonDAY number EVENING WEEKEND rate $650 1 (Medford) rate $500 3 (Medford) rate $925 2 (Medford) 6rate $1,300 2 (non-Med.) rate $1,000 3 (non-Med.) rate $2,000 1 (non-Med.) 6



Year 4 Off Season Off Season Off SeasonDAY number EVENING WEEKEND rate $650 1 (Medford) rate $500 3 (Medford) rate $925 3 (Medford) 7rate $1,300 2 (non-Med.) rate $1,000 3 (non-Med.) rate $2,000 3 (non-Med.) 8



Year 5 Off Season Off Season Off SeasonDAY number EVENING WEEKEND rate $750 3 (Medford) rate $500 4 (Medford) rate $1,200 4 (Medford) 11rate $1,500 2 (non-Med.) rate $1,000 3 (non-Med.) rate $2,400 4 (non-Med.) 9


DAY number EVENING number WEEKEND number rate $850 4 (Medford) rate $625 3 (Medford) rate $1,400 4 (Medford) 11rate $1,700 3 (non-Med.) rate $1,300 4 (non-Med.) rate $2,800 5 (non-Med.) 12





-------------------------------- Year 8 In Season In Season In Season

DAY number EVENING WEEKEND rate $1,000 3 (Medford) rate $500 5 (Medford) rate $1,600 6 (Medford) 14rate $2,000 4 (non-Med.) rate $1,000 5 (non-Med.) rate $3,200 6 (non-Med.) 15



DAY number EVENING WEEKEND rate $1,000 3 (Medford) rate $1,000 4 (Medford) rate $1,600 7 (Medford) 14rate $2,000 3 (non-Med.) rate $2,000 4 (non-Med.) rate $3,200 6 (non-Med.) 13




Year 10 Off Season Off Season Off Season


Carriage House with Lawn (Combo) Page 15 NOTE: " In-season" rentals only

Carriage House with the Lawn (Combo) Rentals - Income by YearYear 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Total $ by year $9,200 $11,600 $21,400 $27,600 $37,600 $39,800 $44,000 $49,400 $55,800 $57,600 $60,192 $62,901 $65,731 $68,689 $71,780 $75,010 $78,386 $81,913 $85,599 $89,451

Year 1 In Season DAY number EVENING number WEEKEND number rate $1,000 1 (Medford) rate $1,000 1 (Medford) rate $1,200 2 (Medford)rate $2,000 1 (non-Med.) rate $2,000 0 (non-Med.) rate $1,400 2 (non-Med.)


--------------------------------Year 2 In Season

DAY number EVENING WEEKEND rate $1,000 2 (Medford) rate $1,000 1 (Medford) rate $1,200 2 (Medford)rate $2,000 1 (non-Med.) rate $1,800 0 (non-Med.) rate $1,400 3 (non-Med.)

Year 2 Off Season DAY number EVENING WEEKEND rate $800 0 (Medford) rate $800 0 (Medford) rate $1,000 0 (Medford) 0rate $1,600 0 (non-Med.) rate $1,600 0 (non-Med.) rate $2,000 0 (non-Med.) 0

-------------------------------- Year 3 In Season


Year 3 Off Season DAY number EVENING WEEKEND rate $800 0 (Medford) rate $800 0 (Medford) rate $1,400 0 (Medford) 0rate $1,600 0 (non-Med.) rate $1,600 0 (non-Med.) rate $2,800 0 (non-Med.) 0

--------------------------------Year 4 In Season


Year 4 Off Season DAY number EVENING WEEKEND rate $1,000 0 (Medford) rate $1,000 0 (Medford) rate $1,400 0 (Medford) 0rate $2,000 0 (non-Med.) rate $2,000 0 (non-Med.) rate $2,800 0 (non-Med.) 0

--------------------------------Year 5 In Season



--------------------------------Year 6 In Season

DAY number EVENING number WEEKEND number rate $1,200 3 (Medford) rate $1,200 3 (Medford) rate $1,600 3 (Medford) 9rate $2,400 3 (non-Med.) rate $2,300 2 (non-Med.) rate $3,200 5 (non-Med.) 10


--------------------------------Year 7 In Season



-------------------------------- Year 8 In Season



--------------------------------Year 9 In Season



--------------------------------Year 10 In Season



Manor and Carriage House - Total Combo Rentals Page 16 NOTE: Evenings and Weekends only

Total Combo Rentals - Income by YearYear 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Total $ by year $11,500 $18,900 $47,600 $55,000 $107,400 $118,400 $125,800 $155,100 $161,800 $169,500 $177,128 $185,098 $193,428 $202,132 $211,228 $220,733 $230,666 $241,046 $251,893 $263,228

Year 1 In Season DAY number EVENING number WEEKEND number rate $1,300 0 (Medford) rate $1,300 1 (Medford) rate $2,000 0 (Medford) 1rate $2,600 0 (non-Med.) rate $2,600 0 (non-Med.) rate $4,000 1 (non-Med.) 1


--------------------------------Year 2 In Season



-------------------------------- Year 3 In Season



--------------------------------Year 4 In Season



--------------------------------Year 5 In Season



--------------------------------Year 6 In Season

DAY number EVENING number WEEKEND number rate $1,700 0 (Medford) rate $1,700 3 (Medford) rate $3,000 6 (Medford) 9rate $3,400 0 (non-Med.) rate $3,400 4 (non-Med.) rate $6,000 7 (non-Med.) 11

Year 6 Off Season


--------------------------------Year 7 In Season



-------------------------------- Year 8 In Season



--------------------------------Year 9 In Season



--------------------------------Year 10 In Season



Brooks Estate Business Plan: Manor and Carriage House - Combined Summary Page 17

Cost and Income Summary


Amortization of Capital Debt $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068 $160,068

Utilities $5,900 $6,165 $6,493 $6,815 $7,142 $7,474 $7,813 $8,178 $8,556 $8,952 $9,414 $9,911 $10,423 $10,971 $11,567 $12,173 $12,805 $13,495 $14,198 $14,942

General Maintenance $14,000 $13,650 $14,333 $17,049 $15,802 $16,592 $20,421 $18,292 $19,207 $23,167 $21,176 $22,234 $27,346 $24,513 $25,739 $31,526 $28,377 $29,796 $36,786 $32,850

Supplies $1,375 $1,561 $1,599 $1,639 $1,681 $1,750 $1,822 $1,920 $2,021 $2,105 $2,166 $2,240 $2,307 $2,387 $2,465 $2,547 $2,628 $2,722 $2,810 $2,907


Staffing / Function Mgr. Base salary $25,000 $25,000 $25,000 $25,000 $25,000 $26,250 $26,250 $27,500 $28,000 $28,750 $29,250 $30,000 $30,335 $30,500 $31,923 $32,088 $32,925 $33,008 $33,845 $33,928

Commission rate 15% 15% 12% 11% 10% 10% 9% 8% 7% 7% 7% 7% 6% 6% 6% 6% 6% 6% 5% 5%Commission paid $4,905 $8,640 $14,743 $16,340 $23,398 $26,110 $23,794 $25,514 $23,940 $25,379 $26,538 $27,751 $24,873 $26,010 $27,198 $28,442 $29,742 $31,101 $27,102 $28,341

Total salary cost $29,905 $33,640 $39,743 $41,340 $48,398 $52,360 $50,044 $53,014 $51,940 $54,129 $55,788 $57,751 $55,208 $56,510 $59,121 $60,530 $62,667 $64,109 $60,947 $62,269

Miscellaneous Costs $2,800 $2,940 $3,087 $3,241 $3,403 $3,574 $3,752 $3,940 $4,137 $4,344 $4,561 $4,789 $5,028 $5,280 $5,544 $5,821 $6,112 $6,418 $6,739 $7,075

Total Direct Operating Expenses $53,980 $57,956 $65,255 $70,085 $76,426 $81,750 $83,851 $85,344 $85,860 $92,696 $93,105 $96,925 $100,312 $99,661 $104,437 $112,597 $112,589 $116,539 $121,480 $120,044

TOTAL ANNUAL COSTS $214,048 $218,024 $225,323 $230,153 $236,494 $241,818 $243,919 $245,412 $245,928 $252,764 $253,173 $256,993 $260,380 $259,729 $264,505 $272,665 $272,657 $276,607 $281,548 $280,112

COMBINED INCOME Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Manor - Function Income $7,350 $14,650 $25,055 $30,670 $38,450 $42,225 $37,425 $42,125 $44,850 $50,000 $52,500 $55,125 $57,881 $60,775 $63,814 $67,005 $70,355 $73,873 $77,566 $81,445

Caretaker Rental Income $5,040 $5,242 $5,451 $5,669 $5,896 $6,132 $6,377 $6,632 $6,898 $7,173 $7,460 $7,759 $8,069 $8,392 $8,728 $9,077 $9,440 $9,817 $10,210 $10,619

Carriage House - Function Income $25,350 $42,950 $97,800 $117,875 $195,525 $218,875 $226,950 $276,800 $297,150 $312,550 $326,615 $341,312 $356,671 $372,722 $389,494 $407,021 $425,337 $444,478 $464,479 $485,381

TOTAL ANNUAL INCOME $37,740 $62,842 $128,306 $154,214 $239,871 $267,232 $270,752 $325,557 $348,898 $369,723 $386,575 $404,196 $422,622 $441,889 $462,036 $483,103 $505,132 $528,168 $552,256 $577,444

PROFIT / LOSS after payment of debt Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Annual -$176,308 -$155,183 -$97,016 -$75,939 $3,377 $25,414 $26,833 $80,145 $102,969 $116,959 $133,402 $147,204 $162,242 $182,160 $197,531 $210,438 $232,475 $251,561 $270,708 $297,331

Cumulative -$176,308 -$331,491 -$428,507 -$504,446 -$501,069 -$475,655 -$448,822 -$368,676 -$265,707 -$148,748 -$15,346 $131,858 $294,099 $476,259 $673,790 $884,227 $1,116,703 $1,368,264 $1,638,971 $1,936,303

COMBINED COSTS

Brooks Estate Business Plan: Rentals per Year (Utilization) Page 18


Manor Rentals

Parlor Rentals (Medford) 7 10 12 12 15 23 28 31 34 40 40 40 40 40 40 40 40 40 40 40

(non-Med.) 0 0 0 0 0 2 5 6 6 6 6 6 6 6 6 6 6 6 6 6

Dining Room Rentals (Medford) 10 16 17 23 26 29 31 31 32 32 32 32 32 32 32 32 32 32 32 32

(non-Med.) 0 0 1 2 3 3 5 4 8 7 7 7 7 7 7 7 7 7 7 7

Library Rentals (Medford) 7 14 17 18 20 22 22 24 26 26 26 26 26 26 26 26 26 26 26 26

(non-Med.) 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0

Manor First Floor Combo Rentals (Medford) 6 8 8 12 10 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12(non-Med.) 1 4 9 10 10 11 9 11 10 12 12 12 12 12 12 12 12 12 12 12

Total Annual Rental Events - Manor 31 52 64 77 84 102 112 120 128 135 135 135 135 135 135 135 135 135 135 135

Carriage House Rentals Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20

Full Carriage House Rental (Medford) 6 8 11 15 19 20 22 24 25 28 28 28 28 28 28 28 28 28 28 28

(non-Med.) 1 6 15 17 19 24 24 27 26 28 28 28 28 28 28 28 28 28 28 28

Carriage House with Lawn Rental (Medford) 0 0 6 7 7 9 10 11 11 12 12 12 12 12 12 12 12 12 12 12

(non-Med.) 0 0 5 7 10 10 11 12 14 14 14 14 14 14 14 14 14 14 14 14

Total Combo Rentals -- C.H. & Manor (Medford) 2 4 6 7 15 17 18 19 19 20 20 20 20 20 20 20 20 20 20 20(non-Med.) 3 4 10 13 19 21 23 24 26 27 27 27 27 27 27 27 27 27 27 27

Total Annual Rental Events - Carriage House 12 22 53 66 89 101 108 117 121 129 129 129 129 129 129 129 129 129 129 129

TOTAL NUMBER OF RENTALS OF ALL TYPES

Total rentals 43 74 117 143 173 203 220 237 249 264 264 264 264 264 264 264 264 264 264 264

Total Annual Rental Events - Manor 31 52 64 77 84 102 112 120 128 135 135 135 135 135 135 135 135 135 135 135

Total Annual Rental Events - Carriage House 12 22 53 66 89 101 108 117 121 129 129 129 129 129 129 129 129 129 129 129

Total number of rentals - all types 43 74 117 143 173 203 220 237 249 264 264 264 264 264 264 264 264 264 264 264

DAYS OF THE YEAR - AVAILABILITY INDEX

weekdays - winter 68

weekdays - spring 40

weekdays - summer 48

weekdays - fall 24

weekend days - winter 12

weekend days - spring 18

weekend days - summer 24

weekend days - fall 14 248 TOTAL DAYS

Brooks Estate Master PlanDonovan D. Rypkema, a preservationist and economist made these comments in his presentation Economics, Sustainability, and Historic Preservation for a plenary

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