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Commercial Use Summary/ Tenant Mix3,900 sq. ft. leased to Bayshore Child Care Services, 10 year lease 871 sq. ft. leased to Royal Carpet and Flooring, 3 year lease 1,401 sq. ft. currently open 1,629 sq. ft. leased to Signworld, 5 year lease 2,383 sq. ft. leased to Countrywide Mortgage, 3 year lease 10,184 sq ft. total Development Budget Summary Total Development Cost: $11,011,844 Cost attributed to commercial space: $757,917 (6 %) – Excluded from Tax Credit Basis Additional Tenant Improvements for Commercial Space: $390,000
Financing Sources California Community Reinvestment Corporation (CCRC) Daly City Redevelopment Agency City of Daly City Edison Capital (purchased 9% tax credits) Allied Irish Bank construction loan Commercial Operating Budget Summary CCRC requires all commercial space to be leased and generate a minimum annual income of $110,559 or average of $.76/sq.ft with minimum three year term. Project Team
Project Manager(s): Sheela Bhatt, housing, Ramie Dare, commercial Architect: Donald McDonald General Contractor: James E. Roberts-Obayashi Corporation Commercial Leasing Agent: Garrison Properties Financing Consultant: Community Economics
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