20 sites 24 acres $93M - cao-94612.s3.amazonaws.com · Market Rate Units 430 492 322 0 Affordable...
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Staff Strategy Future fiscal benefits (Net Present Value) Affordable units Affordable units Market rate units Market rate units Commercial/ office square footage Commercial/ office square footage 60% Below Market Rate guillen/kaplan 60% Below Market Rate CWN PROPOSAL 100% Below Market Rate PLA and S/LBE requirement No additional PLA or S/LBE requirement 100 units of housing 470,000 sq ft PLA or S/LBE requirement $10 million Source: Table 1 of Supplemental Staff Report for July 18, 2018 CED Committee, dated July 12, 2018 20 sites 24 acres $93M O A K L A N D ’ S P U B L I C L AN D S f o r w h i c h p u b l i c g o o d ? -$6m -$33m -$112m NET PROJECTED CITY SUBSIDY
Transcript of 20 sites 24 acres $93M - cao-94612.s3.amazonaws.com · Market Rate Units 430 492 322 0 Affordable...
Staff Strategy
Future fiscal benefits
(Net Present Value)
Affordable units
Affordable units
Market rateunits
Market rateunits
Commercial/ office square
footage
Commercial/ office square
footage
60% Below Market Rateguillen/kaplan
60% Below Market RateCWN PROPOSAL
100% Below Market Rate
PLA and S/LBE
requirement
No additional PLA or S/LBE requirement
100 units of housing
470,000 sq ft
PLA or S/LBE requirement
$10 millionSource: Table 1 of Supplemental Staff Report for July 18, 2018 CED Committee, dated July 12, 2018
20 sites24 acres
$93M
OAKLAND’S PUBLIC LANDSf o r w h i c h p u b l i c g o o d ?
-$6m
-$33m
-$112m
NET PROJECTED
CITY SUBSIDY
Comparison of Proposals:Affordable Housing Outcomes/Costs
Item
Guillen/Kaplan
(60% BMR)
StaffStrategy
(60% BMR)
Guillen/Kaplan
(70% BMR)
CWN JuneProposal
(100% BMR)# Sites Designated for 100% Affordable Housing* 6 14 8 18 # Sites Designated for 15% BMR (80% AMI)* 12 0 10 0 # Sites Designated for Market‐Rate Residential 0 1 0 0 # Sites Designated for Commercial 2 5 2 2 Total Sale Proceeds Generated $24M $51M $24M $6M Net Proceeds to GPF/Redevelopment Funds $0 $26M $0 $3M Fiscal Benefits NPV TBD $96M TBD $7M Gross AHTF Funds Generated (incl. fees) $34M $44M $34M $4M Total Units Produced 1,077 1,238 1,077 1,080 Market Rate Units 430 492 322 0 Affordable Units 647 746 755 1,080 % Affordable 60% 60% 70% 100%Commercial/Office Sqft 294,428 1,420,341 294,428 294,428 (Additional City Subsidy Needed) ($33M) ($32M) ($45M) ($115M) Estimated Years to Fund 3‐4 years 3‐4 years 4‐6 years 10‐14 years Total Net City Fund Impact (AHTF + Other) ($33M) ($6M) ($45M) ($112M)
