Tampa Housing Authority. YouthBuild School

Transcription

1 Tampa Housing Authority YouthBuild School

2 C.C.G. Developers Non-profit organization working in collaboration with the Tampa Housing Authority Damien Beal Pascale D. Edouard Steve Baumann

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4 Development Concept Renovate an existing office/warehouse building into a 24,223 square foot YouthBuild training school, offices, storage facility and day care center Site is located at 808 North Rome Ave, Tampa FL Renovation is intended to engage and support the community Stimulate the local economy

5 Development Concept Site Location

6 Development Concept Site Location

7 Development Concept Enterprise Zone

8 Development Concept

9 Development Concept

10 Development Concept

11 Development Concept Services to be provided: YouthBuild Facility GED classrooms Trade classrooms Carpentry, HVAC, Plumbing & Electrical Professional office space rentals Storage space rentals Day care facility Parking

12 Development Concept Zoning Zoning Classification: IG (Industrial General) Allows for office, vocational schools storage and daycare uses Maximum Height: 60 feet. Actual is 24 feet Minimum Lot Size: 5,000 sq.ft. Actual is 1.02 acres Maximum F.A.R..75 allowable Actual F.A.R..54

13 Development Concept Existing building to be demolished Building & Site Plan Rental storage space 1 st level YouthBuild School classrooms Day care school 2 nd level office space

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15 Market Analysis and Demands Community Need Approximately 37.7% of residents do not have a high school diploma Roughly 34.4% of residents living below the poverty line 1.6 million shortage of qualified construction and skilled workers

16 Market Analysis and Community Need Demands

17 Market Analysis and Community Need Demands There are only 2 daycare centers within 1 mile of the site. The closest is approximately.5 miles away. There are very few office rentals available near the site with the closest office being.7 miles from the site. The closest storage facility is located 1.2 miles from the site. With the University and hundreds of apartments adjacent to the site, the need for storage is substantial.

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19 Collaborations & Partnerships Hillsborough County School System STC Partners University of South Florida University of Tampa Head Start Hillsborough County Health Dept. Drug Abuse Comprehensive Counseling Office (DACCO) Tampa Bay Workforce Alliance Habitat for Humanity (Hillsborough and Pinellas County)

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21 Financials Construction/ Rehabilitation $1,550,272 Development Cost $52,000 Contractors Insurance $28,000 Developers Fees $259,000 Contractor's Profit $180,000 Soft Cost $401,378 Permitting $26,000

22 Financial Sources SI Fund Grant $500,000 Brownfield Designation $39,300 Enterprise Zone $41,300 Total Development Cost $2,496,650 Total Debt Service $1,457,050 YouthBuild Grant $200,000 CDBG $100,000 Deferred Developer Fee $159,000 Total Equity $1,039,600

23 Cash Flow Effective Annual Income $652,600 Operating Expenses $388,290 Debt Service $93,280 Net Operating Income $175,824

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25 Community Impacts Increase the number of jobs in the area Advance the vocational skills of 25 to 40 youth per year Employ YouthBuild employees, teachers, property managers, day care employees, maintenance employees and lawn care companies

26 Community Impacts Cater to community members with construction skills Fuel the lost skilled construction labor during the recession

27 Community Impacts Economic benefits $500,000 per year into the local economy Salaries from program graduates Permanent employees of the facility will contribute to the area economy Construction will generate over $1,000,000 of economic benefits to the area Enhance the aesthetics of neighborhood and continue the revitalization momentum Decreased crime due to employment opportunities for disadvantaged youth

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29 Threats & Challenges Potential Threats The unexpected could possibly happen where the economy could move into another recession greatly impacting the construction industry. In any renovation there are unknown issues that could greatly impact the construction costs and put pressure on the sustainability of the project. Anticipated grant money for construction may not be available prior to construction causing the project to rely on more expensive private money.

30 Threats & Challenges Potential Threats Renewing operating grant money after 3 years may not be available causing the project to search for other revenue Competition form other sources such as storage facilities and office buildings

31 Tampa Housing Authority YouthBuild School Questions