Attachment B

 

Income Determination for Henley Forest, Inc.

Appraised Value of Easement = $ 242,00.00

 

 

Owner % Ownership Average Income % Appraised Value Payment

Joseph & Joan Henley 3.600% $ 23,903 (husband & wife)                                                 100% $ 8,712

Charles T. & Sara 12.000 59,767 (husband & wife)                                 94% 27,298

Jacquelin V. Heney 6.600 0 (daughter of Charles & Sara) 100% 15,972

Timothy S. Henley 4.000 0 (daughter of Charles & Sara) 100% 9,680

Charles B. Henley 4.000 0 (daughter of Charles & Sara)    100% 9,680

Joseph Henley, III 12.000 42,135                 100% 29,040

Temple Jenson 14.200 15,899                100% 34,364

Matthew Jenson 6.600 0 (son of Temple) 100% 15,972

Sophie Jenson 6.600 0 (daughter of Temple) 100% 15,972

Tracy Barnett 14.200 12,439                 100% 34,364

Brittany Barnett 6.600 0 (daughter of Tracy) 100% 15,972

Kable Barnett 6.600 202 (daughter of Tracy) 100% 15,972

Clark Henley 1.500 97,314                   70% 2,541

John Henley 1.500 112,037 58% 2,105

Total 100.00 $ 20,267 $237,644

 

$237,644/$242,000 = 98.2% of appraised value

 

 

Aggregate Income (of 15 shareholders): $ 363,696

Income contributed by Clark Henley & John Henley: $ 209,351 (58%)

Weighted Income: $ 20,267

 

 

 

 

 

 

 

 

 

 

Notes:

1)      There are 15 shareholders of Henley Forest, Inc. A 16th shareholder (Ian Henley, child) is deceased

2)      Joseph T. and Joan H. Henley incomes were combined since they filed together. Each owns 1.8% of Henley Forest, Inc.

 

 

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