O XFORD P LAZA AND THE D AVID B ROWER C ENTER Resources for Community Development The David Brower Center Equity Community Builders
O XFORD P LAZA AND THE D AVID B ROWER C ENTER 4 (Garage Entrance) 2 1 3 Four Parcels including: 1. Retail/Residential Parking 2. Housing/Apartments 3. Office/Conference & Restaurant 4. Underground Parking Garage
O XFORD P LAZA AND THE D AVID B ROWER C ENTER C ONCEPT P LANS: G ARAGE L EVEL Residential Support Retail Office Conference Public Parking Residential Parking
O XFORD P LAZA AND THE D AVID B ROWER C ENTER C ONCEPT P LANS: S TREET L EVEL Residential Support Retail Office Conference Public Parking Residential Parking
O XFORD P LAZA AND THE D AVID B ROWER C ENTER C ONCEPT P LANS: P ODIUM (2ND LEVEL) Residential Support Retail Office Conference Public Parking Residential Parking
O XFORD P LAZA AND THE D AVID B ROWER C ENTER S ECTION Residential Office Parking Conference
O XFORD P LAZA AND THE D AVID B ROWER C ENTER OXFORD PLAZA / BROWER CENTER New Markets Tax Credits Structure (Dollar Figures are Approximate Amounts) NMTC Tax Credit Equity Investor (99.99%) Conventional Bank Financing and $ 5,700,000 $ 7,500,000 Program Related Investment (PRI) Loans Debt Service NMTC Debt Service Section 108 Loan Brower Center / NMTC General Partner / Managing and Member of Investment Partnership Investment Partnership / LLC BEDI Grant / LLC (.01%) $ 6,000,000 CDE/NMTC Allocatee Entity Debt Service Owner Investment/Loan ROE $ 29,700,000 and $ 10,500,000 Charitable Contributions and Housing Air Rights Purchase Fees CDE / NMTC Allocatees TBD CDE / NMTC Allocatee in negotiations with Sponsor LISC, Lenders for Community Services Development, Clearinghouse CDFI $32,500,000 Housing Sources $32,500,000 Housing Sources $ 29,700,000 Debt Service (Net of Fees) Oxford Plaza, L.P. $1,928,300 Housing Air Rights Purchase Master Development / Owner Included in Owner Investment Oxford Development LLC Above (or new Non-Profit Entity) Lease Lease Lease $ $ $1 Retail/Parking Parking Revenues to Parking Component City of Berkeley Component Brower Center / Office Component Retail/Parking Entity City of Berkeley controlled by RCD David Brower Center
O XFORD P LAZA AND THE D AVID B ROWER C ENTER AGREEMENTS* PROJECT - WIDE DDA Reciprocal Easement Agreement/Draft OXFORD PLAZA HOUSING Development Loan Agreement Regulatory & Afford. Agreements Revocable Grant Agreement COMMERCIAL COMPONENT NMTC Agreements BROWER CENTER Regulatory Agreement HUD 108 Agreement RETAIL COMPONENT HUD 108 Loan Agreement BEDI Loan Agreement PARKING GARAGE Lease Agreement * These are the agreements known at this time
O XFORD P LAZA AND THE D AVID B ROWER C ENTER GAP FINANCING Part or most of the savings which have resulted from the $8,000,000-8,500,000 financial gap identified to City Council on July 19, 2005, were from the outlined strategies (included in the report) which were to be undertaken. These strategies have helped in closing the financial gap and are outlined below: $1,768,000 BEDI Grant Award $1,400,000 Equity through Using the HUD 108 and BEDI as loans through the NMTC Structure $ 500,000 Value Engineering Cost Savings $2,500,000 Housing Trust Fund $1,545,400 Redevelopment Agency Housing Grant $ 500,000 Interim Financing Use of HUD 108 funds Generating Additional Loan Funds for Project $8,213,000 TOTAL 97 Units of Housing Per Unit City Subsidy = $41,696
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