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Development <br />Scenario C2 – <br />Feasibility <br />Costs include prevailing wage and exclude <br />land purchase price/ground lease. <br />May 11, 2026 Middlefield Library Lot B Design & Feasibility Analysis 14 <br />State, local, or private funding <br />City funding <br />Total Project Cost 91,286,300$ <br />City Office Space Cost (Including <br />Improvements)1,011,000 <br />Library Parking Cost 5,765,900 <br />Projected Non-Residential Gap 6,776,900$ <br />Residential Cost 84,509,400$ <br />Projected Debt Financing 23,662,600 <br />Projected Tax Credit Equity 38,029,200 <br />Deferred Developer Fee 5,915,700 <br />Projected Residential Gap 16,901,900$ <br />Gap per unit 196,530 <br />Project Total Gap 23,678,800$