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Correspondence - #1
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07/26/2021 Special Work Study
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Correspondence - #1
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7/26/2021 4:07:00 PM
Creation date
7/26/2021 11:33:16 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Clerk of the Council
Item #
1
Date
7/26/2021
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<br />Ώ <br /> <br />Ώ $274/gsf <br /> <br />Ώ BIA member <br /> <br />Ώ Conversely, ownership/condo development should reflect higher construction costs vs. <br />rental. <br /> <br />Ώ When compared to BIA member <br />costs are significantly understated. <br /> <br />developer profit of 8.5% - this <br />does not represent fair and reasonable profit. <br /> <br />Ώ Driving to below-market profit metrics also overstates the supportable in-lieu fee. <br /> <br />Ώ Developer profit of 15-20% represents more reasonable profit metrics. <br /> <br /> <br /> <br />
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