Laserfiche WebLink
<br />bbpc <br /> <br />ASSOCIATES <br /> <br />Financial Services Consulting- Skyland Shopping Center Redevelopment <br />Washington, DC <br /> <br /> <br />~bllb;'.-i <br /> <br />Client National Capital Revitalization Corporation <br /> <br />Project Overview: <br />. Recreation Development <br />. RedevelopmenVUrban Planning <br /> <br />· Tax Increment Financing (TIF) <br />. Development Impact Assessments <br /> <br />Served as the financial real estate consultant to the National Capital Revitalization Corporation (NCRC) <br />for the redevelopment of the Skyland Shopping Center in Southeast Washington, DC into a 280,000 <br />square foot high quality retail center. This 18.5-acre site is located on the north side of the intersection <br />of Good Hope Road, Alabama Avenue and Naylor Street, in SE Washington, DC. <br /> <br />Conducted a local tax base impact evaluation quantifying the benefits of the project in terms of current <br />and projected sales and property tax revenues for the site to determine estimated Tax Increment <br />Finance (TIF) revenues for underwriting purposes. This included an estimation of current tax revenues <br />and the projected tax revenues during the construction period and during annual operations at full <br />build out of the planned redevelopment. <br /> <br />Prepared a strategy report to determine potential deal and ownership structures that would serve to <br />optimize NCRC's financial contributions to the project, both as a lender and as a potential investor, <br />including an estimation of the value of the properties and potential purchase price based on a series of <br />scenarios that takes into consideration the cost to acquire the site and its re-use value. Prepared an <br />economic feasibility model showing the returns to the public and private sector, funding gaps and <br />opportunities for publici private partnerships. <br /> <br />Basile Baumann Prost Cole & Associates, Inc. <br /> <br />Public/Private Development Advisors <br />