2 1 3 Four Parcels including: 1. Retail/Residential Parking 2. - - PowerPoint PPT Presentation

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Dec 13, 2022 229 likes •346 views

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.

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OXFORD PLAZA AND THE DAVID BROWER CENTER

Resources for Community Development The David Brower Center Equity Community Builders

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OXFORD PLAZA AND THE DAVID BROWER CENTER

4

(Garage Entrance)

1 2 3

Four Parcels including:

1. Retail/Residential Parking
2. Housing/Apartments
3. Office/Conference & Restaurant
4. Underground Parking Garage

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OXFORD PLAZA AND THE DAVID BROWER CENTER

CONCEPT PLANS: GARAGE LEVEL

Residential Support Retail Office Conference Public Parking Residential Parking

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OXFORD PLAZA AND THE DAVID BROWER CENTER

CONCEPT PLANS: STREET LEVEL

Residential Support Retail Office Conference Public Parking Residential Parking

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OXFORD PLAZA AND THE DAVID BROWER CENTER

CONCEPT PLANS: PODIUM (2ND LEVEL)

Residential Support Retail Office Conference Public Parking Residential Parking

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OXFORD PLAZA AND THE DAVID BROWER CENTER

SECTION

Residential Office Parking Conference

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OXFORD PLAZA AND THE DAVID BROWER CENTER

OXFORD PLAZA / BROWER CENTER New Markets Tax Credits Structure

(Dollar Figures are Approximate Amounts)

5,700,000 $ 7,500,000 $ Debt Service NMTC Debt Service 6,000,000 $ Debt Service ROE 29,700,000 $ 10,500,000 $ Fees Services 29,700,000 $ Debt Service (Net of Fees) $1,928,300 Lease Lease Lease $ $ $1 $32,500,000 Housing Sources Parking Revenues to City of Berkeley Owner Investment/Loan and Charitable Contributions and Housing Air Rights Purchase

Brower Center / Office Component David Brower Center Retail/Parking Component Retail/Parking Entity controlled by RCD CDE / NMTC Allocatees in negotiations with LISC, Lenders for Community Development, Clearinghouse CDFI Brower Center / NMTC Investment Partnership / LLC Parking Component City of Berkeley

Section 108 Loan and BEDI Grant Conventional Bank Financing and Program Related Investment (PRI) Loans NMTC Tax Credit Equity Investor (99.99%) General Partner / Managing Member of Investment Partnership / LLC (.01%) CDE/NMTC Allocatee Entity

Master Development / Owner Oxford Development LLC (or new Non-Profit Entity) TBD CDE / NMTC Allocatee Sponsor Oxford Plaza, L.P. Housing Air Rights Purchase Included in Owner Investment Above

$32,500,000 Housing Sources

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OXFORD PLAZA AND THE DAVID BROWER CENTER

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

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OXFORD PLAZA AND THE DAVID BROWER CENTER

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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