Commercial and Mixed-Use Development Nonprofit Commercial projects Types of Financing DEBT Senior Debt –Bank Loan –Bond Financing Subordinate Debt –Community.

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Presentation transcript:

Commercial and Mixed-Use Development Nonprofit Commercial projects Types of Financing DEBT Senior Debt –Bank Loan –Bond Financing Subordinate Debt –Community Development Lenders –Public Sector Lenders EQUITY Traditional Equity Tax Credit Equity Deferred Developer Fees Grants –Foundation Grants –Economic Development Grants (Federal or local) SOFT DEBT –Deferred Payment Loans –Residual Receipts Loans

Commercial and Mixed-Use Development Swans Marketplace Sponsor: EBALDC Location: Old Oakland Uses: Office Space 17,000 sf Retail 25,000 sf + 18 pkg including Housewives Market Live/work rental 1,000 sf 20 Cohousing condos and 2-bdrm apts (50-60% AMI)

Commercial and Mixed-Use Development Financing Sources Swans Marketplace Wells Fargo Bank ($3,350,000) Standard Insurance ($3,300,000) California Equity Fund-Historic Credits ($2,100,000) Economic Development Administration ($1,700,000) Commercial Tenant Prepaid Rent (1,700,000) Oakland Redevelopment Agency, TIF ($1,150,000) Capital Campaign/Kresge Found. ($1,150,000) Office of Community Services ($500,000) Heron Foundation PRI ($300,000) Total:$12,100,000

Commercial and Mixed-Use Development Fruitvale Transit Village Sponsor: The Unity Council Location: Oakland, CA Uses: 68,000 s.f. community resources 47,000 s.f. La Clinica 52,000 s.f. housing (47) 38,000 s.f. retail 50,000 s.f. parking

Commercial and Mixed-Use Development Financing Sources Fruitvale Transit Village Citibank – Tax Exempt Bond Local Initiatives Support Corporation National Cooperative Bank City of Oakland – Sec 108 Dept. of Commerce, EDA US. Dept. of Housing and Urban Development Environmental Protection Agency BART Federal Transit Administration Federal Emergency Management Agency U.S. Department of Health and Human Services California Health Facilities Financing Authority Alameda County Transportation Improvement Agency

Commercial and Mixed-Use Development Grant Sources Fruitvale Transit Village Evelyn & Walter Haas Foundation Richard & Rhoda Goldman Fund Levi-Strauss Foundation The Ford Foundation Neighborhood Reinvestment Corporation James Irvine Foundation National Council of La Raza PG&E Corporation

Commercial and Mixed-Use Development Financing Sources Directory Loan sources Grant sources Equity sources Public Agencies Private Investors Community Development Lenders