Presentation to Langley Township Council by Dave Kirk regarding rental rates at Langley Regional Airport April 6, 2009.

1. Rentable Value Appraisal of Langley Regional Airport Cunningham & Rivard Appraisals (Nanaimo) Ltd. 70 Prideaux Street, Nanaimo

2. Cunningham & Rivard Appraisals (Nanaimo) Ltd.

3. Cunningham & Rivard Appraisals (Nanaimo) Ltd.

4. DISTANCE CHART Cunningham & Rivard Appraisals (Nanaimo) Ltd.

5. Industrial Land Value Airport Lease Rate Comparison Table Cunningham & Rivard Appraisals (Nanaimo) Ltd. Location Industrial Land Value per acre Airport Land Rent Rate per square foot Langley 1,000,000 $0.28 Victoria 1,000,000 $0.43 Kelowna 750,000 $0.31 Chilliwack 600,000 $0.25 Nanaimo 500,000 $0.17 Campbell River 200,000 $0.17 Average industrial land values and airport land rental rates

8. Cunningham & Rivard Appraisals (Nanaimo) Ltd.

9. Rate of Return Lease Rate Comparison Table Cunningham & Rivard Appraisals (Nanaimo) Ltd. Location Existing Land Rent Rate per sq ft 2009 Rate of Return Rent 1999 Rate of Return Rent Langley $0.28 $1.37 $0.34 Victoria $0.43 $1.37 $0.34 Kelowna $0.31 $1.03 $0.26 Chilliwack $0.25 $0.83 $0.21 Nanaimo $0.17 $0.69 $0.17 Campbell River $0.17 $0.28 $0.07 The existing land rent rates are established by the open (free) aviation industry land rental market. The rate of return rents are calculated at 6% of average industrial land values at 2009 and 1999.