1. Downtown East By Tony Barranco, Vice President of Development Ryan Companies US, Inc.September 20, 2014

2. Transit-Friendly LocationRYANSSITE 3. Post-MetrodomeDevelopment Huberts 4. Downtown East Low Density, Surface Parking 5. West Side of 5th Avenue Physical Barrier 6. Minneapolis Skyway System 7. Mill District Development -2004 Aerial Photo 8. Mill District Development -2013 Aerial PhotoSt. Anthony Mills ApartmentsGuthrie TheatreGuthrie Parking RampGold Medal ParkAmerican Academy of NeurologyZenith CondominiumsAloft HotelThe BridgewaterMacPhailCenter for MusicMill District City Apartments 9. Transit-Friendly LocationRYANSSITE 10. Stadium District Per State Legislation 11. Reinventing Downtown EastWe started with a Stadium, Plaza and Parking$400 million private investment193 apartment units (first phase)/300 residents1,610 stall parking ramp5,000 -6,000 downtown jobsConnections between Stadium and Core$3.5 million annual taxes / $1 million to MinneapolisWorld-Class Urban Park 12. The Downtown East Development 13. Important Skyway Connection From Downtown to Stadium 14. Perspective View of Downtown 15. Most Significant Project ChallengesCreating A Compelling Vision for ALL Project StakeholdersStarTribune (to allow us to control land)Corporate Office User Wells FargoMinnesota Sports Facilities AuthorityMinnesota VikingsCity of MinneapolisNeighborhoodsExpending SIGNIFICANT at risk Effort, $DesignDevelopmentConstruction ManagementLegalGovernment AffairsEnvironmentalAUARCreating a Funding Plan that satisfied City, Wells FargoNo TIFMulti-party Public Commitments RequiredCity of MinneapolisMSFA (required Minnesota Vikings concurrence)Aggressive ScheduleFixed occupancy date by Wells FargoManaging RisksCorporate User CommitmentMulti-Entity Political Decision-MakingConstruction Pricing/AvailabilityDesign ScheduleEnvironmental Contamination 16. Funding Plan Public Project ComponentsParking Ramps, SkywaysOwned by MSFASubstantially funded through State legislation for Vikings StadiumParkOwned by City of MinneapolisPublic Funding for Park, City Portion of Parking Ramp (non-Vikings):TIF is not an option for several key reasonsRyan Proposed Funding PlanApproximately $55 -$60 M G.O. bond issuance by CityRyan manages MSFA-owned Parking RampsRyan takes all economic risks during contract termRyan commits to make payments to CityBased on, but not tied to, parking NOI 17. Ryans Project Completed beforeStadium opening-City Council ApprovalsDecember 13, 2013-MSFA Board/Vikings ApprovalDecember 13, 2013-Acquired 5 blocksfrom StarTribuneFebruary 10, 2014-CityIssued G.O. BondsMarch 4, 2014-Abatementand Demolition StartApril 1, 2014-Groundbreaking CeremonyMay 13, 2014-Initial Office Tower DeliveryFebruary2016-Initial Residential DeliverySpring2016-Park Opening2Q 2016Aggressive Project Schedule 18. Phase I -Downtown East-2 Wells Fargo buildings = 1,200,000sf-193 apartment units facing the park-1,610 stall parking rampPlus air rights development above parking ramp(pending)-350 apartment units with Magellan/RyanAir rights above parking ramp 19. It Takes a Village! 20. Downtown East By Tony Barranco, Vice President of DevelopmentRyan Companies US, Inc.Questions?