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  "documentTitle": "Target Corporation (TGT)",
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  "authorName": "William Ackman",
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  "presentationDate": "2008-10-29 00:00:00",
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      "text": "Outsourcing these capital requirements to TIP REIT would increase Target Corp's cash flows and decrease its need for growth capital",
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      "text": "Today, on average, it costs Target approximately $100/sq. ft. to procure and develop land for its stores. In 2009, this is expected to amount to roughly 50% of growth capital or $1.1bn",
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      "text": "(1) Depreciable asset",
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      "text": "Land: Cost of raw land, Permits / Zoning, Professional fees, Surveying, Real estate taxes. Land Improvements: Land excavation, Drainage, Demolition, Sewage, Parking, Lights, Fencing, Sidewalks, Landscaping.",
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