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Development <br />Scenario R2 - <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 18 <br />State, local, or private funding <br />City funding <br />Total Project Cost 91,399,600$ <br />City Office Space Cost (Including <br />Improvements)794,800 <br />Library Parking Cost 7,743,800 <br />Projected Non-Residential Gap 8,538,600$ <br />Residential Cost 82,861,000$ <br />Projected Debt Financing 23,201,100 <br />Projected Tax Credit Equity 37,287,500 <br />Deferred Developer Fee 5,800,300 <br />Projected Residential Gap 16,572,100$ <br />Gap per unit 159,350 <br />Project Total Gap 25,110,700$