I think those are the two where the question is most relevant. Yeah. Well, i would just say it had an immediate effect on me, because i was supposed to be in germany right now at the bayer stockholders meeting. I had bought one share. I should mention, i was train by some really amazing historians, a bunch of people, but we didnt learn journalism, you know . We didnt know how to go on the ground. Ive had to learn on the fly. Buying a share, that sounds great. Ill tell you, the zoom version of the shareholders version was six hours straight, no breaks. No breaks literally just watching zoom from 4 00 in the morning germany until i dont know what time it was when i gave up. But and it was really interesting because heres the interesting confluence with this company, right . Its both a company thats on the cutting edge of health care and dealing, you know, so theyre talking a great deal about the pandemic at the exact moment in that stockholders e meeting theyre getting peppered by whats
That i grew up around and those that are being honored tonight and to concentrate on the substance not a capacious place and then to have a series of conversations and then when we are done we will take questions in chat to wrap up in an hour using the best practice not keeping you in front of your computer screen for too long especially this time of day. New to the awards and the legac legacy, we have a short video. Talk about the process of writing at the keyboard. Its not the most important par part. [inaudible] this work was detailed. And with a set of ideas and what he hoped for is the elevation of nonfiction programs. He cared so much about the craft and then said to do something and carry forward. And David Marinus and robert caro, on and on with this silly group of americans. And none of this would be possible. And talk about narrative nonfiction. And it would allow me to take more time of the debt for the first time author. It gave me confidence. Because this type of work that
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
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