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Development <br />Scenario R3 - <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 20 <br />State, local, or private funding <br />City funding <br />Total Project Cost 94,797,400$ <br />City Office Space Cost (Including <br />Improvements)794,800 <br />Library Parking Cost 10,088,800 <br />Projected Non-Residential Gap 10,883,600$ <br />Residential Cost 83,913,800$ <br />Projected Debt Financing 23,495,900 <br />Projected Tax Credit Equity 37,761,200 <br />Deferred Developer Fee 5,874,000 <br />Projected Residential Gap 16,782,700$ <br />Gap per unit 166,170 <br />Project Total Gap 27,666,300$