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Development <br />Scenario R1 - <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 16 <br />State, local, or private funding <br />City funding <br />Total Project Cost 86,355,000$ <br />City Office Space Cost (Including <br />Improvements)794,800 <br />Library Parking Cost 7,762,500 <br />Projected Non-Residential Gap 8,557,300$ <br />Residential Cost 77,797,700$ <br />Projected Debt Financing 21,783,400 <br />Projected Tax Credit Equity 35,009,000 <br />Deferred Developer Fee 5,445,800 <br />Projected Residential Gap 15,559,500$ <br />Gap per unit 154,050 <br />Project Total Gap 24,116,800$