Up with what is the percentage decline in the rent. Once we have the percentage decline in the rent, we multiply that to the total rent value, what we estimate, given the data, vendor which we used there to look at all the parcels around the city. And figure out what is the total what was the assumed per Square Footage for Residential Office retail and p. D. R. . I believe about, total citywide was i believe 107 million, office space not how many square foot, what did you value it per square foot for rent. Yeah, rent is, i believe, if my memory serves me right, about 67, 63 to 64 for the office space per square feet, and if i believe its for retail, about 30. And for p. D. R. , around 10. So, i can get you those numbers exact, thats the range we are talking about. And what was the assumed value for the market rate residential . Market rate, using an average of these based on the 700, average 749 square foot area, 800,000 per unit market unit. 800,000 rent, total across the city and the
20 . Under this d. D. A. , its 18 . But the developer does get more participation in project revenues and that is on page 19 of the report. In terms of sort of the project financing, Public Financing for the horizontal infrastructure, the developer under the d. D. A. Will construct the infrastructure. Funding sources are shown on page 14 of our report. The sources and uses are estimated to be about 700 million, thats in current dollar value. The developers and the project source, project revenue financing this project have shown the table on page 14. The Developers Equity contribution is estimated to be about 190 million. They have already contributed about 27 million of that towards entitlement costs. With their return, we estimate that the return to developer and the payment to developer will be around 268 million in current dollars. Under the d. D. A. , the developer is paid back from project revenues, prepaid ground leases, rents, financing from the financing district, they say the
And also noting that you are what you eat. So eat to live and not live to eat. These are quotes pulled from the report. Not only are the students engaging in advocacy and data collection, theyre investigating questions that sit at the intersection of health and Environmental Justice for the Immediate School environment and the community. As a member of this board, who has been an advocate, im beyond impressed by the work of the young people and grateful that they have advisors and instructors that believe in them, support their work, and has taken the time to empower the Young Leaders who desire to see change in a neighborhood. So today, its my great honor to recognize the hard work and fast action of these young people. Understandably, the students were unable to attend the Board Meeting because theyre middle School Students in the middle of their school day and theyre preparing for black History Month celebration. So as an fyi, thats tonight at 2055 silver avenue, willie brown middle
Someone live another day. I guarantee that. I guarantee that. So move. Second. In all favour . S aye. Opposed . Item three Public Comment and executive session. Any Public Comment . Seeing none. Ok. Executive session. May i have a motion . So move. Second. All in favour . Aye. Great. Executive session with Legal Counsel [inaudible]. I make a motion i move that we not discuss closed session. Second. All in favour . Aye. Ok. Pledge of allegiance. I pledge of allegiance to the flag, of the United States of america, and to the republic for which it stands, one nation, under god, indivisible with liberty and justice for all. Please be advised that the ringing of and use of cell phones and other Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room of any persons responsible for the ringing of or use of a cell phone, pager or other similar soundproducing electronic device. Please be advised that a member of the public
The developers and the project source, project revenue financing this project have shown the table on page 14. The Developers Equity contribution is estimated to be about 190 million. They have already contributed about 27 million of that towards entitlement costs. With their return, we estimate that the return to developer and the payment to developer will be around 268 million in current dollars. Under the d. D. A. , the developer is paid back from project revenues, prepaid ground leases, rents, financing from the financing district, they say they cannot compel the general fund or the port fund to repay their costs. In sort of summary of this project, same we said when we looked at the pier 70 project, this is complex, the financing is complex. If project revenues do not come in in the amount or the frequency that they are expected, it will cause delays in the project, that would be the major risk to the project. We recommend amending the resolution that approves the d. D. A. To requ