Menlo Park City Council
May 24, 2022

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org City Council

REGULAR MEETING AGENDA
Date: 5/24/2022
Time: 6:00 p.m.

Location: Zoom.us/join – ID# 831 3316 9409
NOVEL CORONAVIRUS, COVID-19, EMERGENCY ADVISORY NOTICE
Consistent with Government Code section 54953(e), and in light of the declared state of emergency, and maximize public safety while still maintaining transparency and public access, members of the public can listen to the meeting and participate using the following methods.

How to participate in the meeting
• Submit a written comment online up to 1-hour before the meeting start time:
[email protected] *
Please include the agenda item number you are commenting on. • Access the meeting real-time online at:

Zoom.us/join – Meeting ID 831 3316 9409
• Access the meeting real-time via telephone at:
(669) 900-6833
Meeting ID 831 3316 9409
Press *9 to raise hand to speak
*Written public comments are accepted up to 1-hour before the meeting start time. • Watch meeting:
• Cable television subscriber in Menlo Park, East Palo Alto, Atherton, and Palo Alto:

Channel 26
Note: City Council closed sessions are not broadcast online or on television and public participation is limited to the beginning of closed session.

Subject to Change: Given the current public health emergency and the rapidly evolving federal, state, county and local orders, the format of this meeting may be altered or the meeting may be canceled. You may check on the status of the meeting by visiting the City’s website www.menlopark.org. The instructions for logging on to the webinar and/or the access code is subject to change. If you have difficulty accessing the webinar, please check the latest online edition of the posted agenda for updated information (menlopark.org/agenda).

According to City Council policy, all meetings of the City Council are to end by midnight unless there is a super majority vote taken by 11:00 p.m. to extend the meeting and identify the items to be considered after 11:00 p.m.

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org City Council Regular Meeting Agenda
May 24, 2022

Regular Session (Zoom.us/join – ID# 831 3316 9409)
A. Call To Order
B. Roll Call
C. Agenda Review
D. Presentations and Proclamations
D1. Proclamation: Recognizing Public Works Week (Attachment) E. Public Comment
Under “Public Comment,” the public may address the City Council on any subject not listed on the agenda. Each speaker may address the City Council once under public comment for a limit of three minutes. Please clearly state your name and address or political jurisdiction in which you live. The City Council cannot act on items not listed on the agenda and, therefore, the City Council cannot respond to non-agenda issues brought up under public comment other than to provide general information.

F. Study Session
F1. Review and consider applicant’s community amenities proposal for the Willow Village master plan project (Staff Report #22-093-CC)
G. Consent Calendar
G1. Accept the City Council meeting minutes for April 19 and May 10, 2022 (Attachment) G2. Adopt a resolution to continue conducting the City’s Council and advisory body meetings remotely due to health and safety concerns for the public and to authorize the use of hybrid meetings (Staff Report #22-103-CC)
G3. Adopt a resolution amending City Council Policy CC-22-004 Commissions/Committees Policies and Procedures, Roles and Responsibilities to update the Complete Streets Commission membership (Staff Report #22-094-CC)
G4. Authorize the city manager to enter into an agreement with EOA, Inc. to perform business inspections per the City’s stormwater municipal regional permit (Staff Report #22-096-CC) G5. Adopt a resolution of preliminary approval of the engineer’s report for the Menlo Park Landscaping Assessment District and adopt a resolution of intention to order the levy and collection of assessments for the Landscaping Assessment District for fiscal year 2022-23 (Staff Report #22-098-CC)
G6. Adopt a resolution approving the list of projects eligible for fiscal year 2022-23 funds from Senate Bill 1: The Road Repair and Accountability Act of 2017 (Staff Report #22-096-CC) G7. Adopt a resolution determining that the final map and public improvement agreement for the Menlo Uptown project located at 180-186 Constitution Drive and 141 Jefferson Drive conform to Menlo City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org City Council Regular Meeting Agenda
May 24, 2022

Park Municipal Code 15.24 and the Subdivision Map Act; approve said final map and public improvement agreement; authorize the city clerk to sign the final map; authorize the city manager to sign the public improvement agreement; and accept dedication of public access easements for site access purposes and an emergency vehicle access easement for fire access purposes (Staff Report #22-100-CC)
G8. Adopt a resolution authorizing staff to submit an application to the San Mateo County Transportation Authority for Measure A Alternative Congestion Relief and Measure W Transportation Demand Management Program Funding (Staff Report #22-102-CC)
H. Regular Business
H1. Adopt a resolution to ratify a successor agreement between the City of Menlo Park and Menlo Park Police Sergeants’ Association expiring June 30, 2025 (Staff Report #22-092-CC) (Presentation)
H2. Adopt a resolution approving a Water Conservation Plan pursuant to Menlo Park Municipal Code Chapter 7.35 imposing Stage 2 Drought Measures of the City’s 2020 Water Shortage Contingency Plan and the State Water Resources Control Board’s proposed emergency regulations regarding turf irrigation (Staff Report #22-097-CC)
H3. Direction on drafting an ordinance preserving park land (Staff Report #22-107-CC) I. Informational Items
I1. City Council agenda topics: May 31, 2022 – June 2022 (Staff Report #22-105-CC) I2. General Obligation Bonds – cost of issuance (Staff Report #22-095-CC) I3. Menlo Park Community Campus operational planning updates: Subcommittee report; updated operational plan milestones; draft program survey (Staff Report #22-101-CC) I4. Bayfront area pedestrian circulation plan update (Staff Report #22-104-CC) I5. Police department quarterly update – Q2 September 2021 – December 2021 and Q3 January 2022 – March 2022 (Staff Report #22-106-CC)
J. City Manager's Report
K. City Councilmember Reports
L. Adjournment
At every regular meeting of the City Council, in addition to the public comment period where the public shall have the right to address the City Council on any matters of public interest not listed on the agenda, members of the public have the right to directly address the Council on any item listed on the agenda at a time designated by the chair, either before or during the City Council’s consideration of the item.

At every special meeting of the City Council, members of the public have the right to directly address the City Council on any item listed on the agenda at a time designated by the chair, either before or during consideration of the item.

For appeal hearings, appellant and applicant shall each have 10 minutes for presentations.

If you challenge any of the items listed on this agenda in court, you may be limited to raising only those issues you or

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org City Council Regular Meeting Agenda
May 24, 2022

someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City of Menlo Park at, or prior to, the public hearing.

Any writing that is distributed to a majority of the City Council by any person in connection with an agenda item is a public record (subject to any exemption under the Public Records Act) and is available by request by emailing the city clerk at [email protected]. Persons with disabilities, who require auxiliary aids or services in attending or participating in City Council meetings, may call the City Clerk’s Office at 650-330-6620.

Agendas are posted in accordance with Government Code Section 54954.2(a) or Section 54956. Members of the public can view electronic agendas and staff reports by accessing the City website at menlopark.org/agenda and can receive email notification of agenda and staff report postings by subscribing to the “Notify Me” service at menlopark.org/notifyme.

Agendas and staff reports may also be obtained by contacting City Clerk at 650-330-6620. (Posted: 05/19/2022) AGENDA ITEM D-1 Page D-1.1
Community Development

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org

STAFF REPORT
City Council
Meeting Date: 5/24/2022
Staff Report Number: 22-093-CC
Study Session: Review and consider applicant’s community amenities proposal for the Willow Village master
plan project
Recommendation
Staff recommends that the City Council review the applicant’s community amenities proposal (Attachment A) which sets forth the proposed community amenities to be provided in exchange for bonus level development for the proposed Willow Village master plan project pursuant to Menlo Park Municipal Code Chapters (MPPC) 16.43.060 and 16.45.070 and General Plan Policy LU-4.4 and Program LU-4.C. The City Council should use this study session to ask clarifying questions and evaluate the applicant’s proposed community amenities including:

1. whether the proposed amenities satisfy the criteria and need for community amenities pursuant to MPMC 16.43.060 and16.45.070, General Plan Policy LU-4.4 and Program LU-4.C, and City policies and priorities;

2. whether the applicant and/or City have adequately valued the proposed community amenities pursuant to MPMC 16.43.060 and 16.45.070; and

3. whether the proposed amenities are consistent with the current City Council-adopted community amenities list (Attachment B.)
No action is needed by the City Council as part of this study session, and feedback on the proposed amenities is considered preliminary to help the applicant and staff continue to evaluate the proposed project and bring forward a compliant community amenities package for future consideration by the City Council.

Policy Issues
The City Council’s review and feedback on the appropriateness of the applicant’s proposed community amenities will inform staff and the applicant’s continued work on the proposed project, including but not limited to the development agreement (DA) negotiation and preparation, the conditional development permit (CDP), and the ongoing environmental review. The Planning Commission and the City Council will ultimately be required to consider the merits of the proposed project, including its consistency with the City’s General Plan and Zoning Ordinance, along with the municipal code, and other adopted policies and programs of the city such as the below market rate (BMR) housing program and the provision of community amenities in exchange for bonus level development, which this study session is intended to inform. The proposed project would also require the Planning Commission and City Council to determine the appropriateness of Circulation Element and Zoning Map amendments to modify the on-site circulation network. Pursuant to the California Environmental Quality Act (CEQA), the proposed project requires an environmental impact report (EIR), which was released for public review and comment April 8, 2022. The comment period ends May 23, 2022. The City Council will be the final decision-making body on the certification of the EIR, General Plan amendment, rezoning, CDP, major subdivision (including the AGENDA ITEM F-1 Page F-1.1
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org realignment of Hamilton Avenue), and DA. The Planning Commission will be the final decision making body on the architectural control permits for each of the 21 individual buildings within the main project site.

Background
Community amenities overview
ConnectMenlo general plan update
As a part of the approval of the ConnectMenlo general plan update, the City approved the following new zoning districts: Office (O), Life Sciences (LS) and Residential Mixed-use (R-MU.) Regulations for bonus level development and community amenities were established in these zoning districts. In exchange for bonus level development (increased floor area ratio, density (dwelling units per acre) and/or height), an applicant is required to contribute to community amenities in the area between Highway 101 and the San Francisco Bay. The community amenities were identified and prioritized through public outreach and input, but the ordinance allows the adopted community amenities list to be updated to reflect evolving community needs and priorities.

The method for determining the required value of the community amenities begins with an appraisal. The applicant provides, at their expense, an appraisal performed by a licensed appraisal firm consistent with the City’s appraisal instructions. The Zoning Ordinance requires the form and content of the appraisal to be approved by the community development director. To provide the community development director with sufficient information to determine if the form and content is adequate, the city commissions a peer review or peer appraisal at the applicant’s cost. Once the community development director approves the appraisal based on the peer review or peer appraisal identifying the required community amenity value, the applicant will then provide the City with a proposal identifying the proposed community amenity and providing an explanation of the amenity value. More details on the appraisal process can be found in the City’s Appraisal Instructions (Attachment C.)
The required community amenity value is 50 percent of the increase in value of the bonus level development above the base level of the Zoning Ordinance.

Following determination of community amenities value, the applicant submits an initial community amenities proposal and associated valuation that add up to the minimum required value for City review. When an applicant is proposing physical amenities on or off-site, the City typically obtains a consultant to evaluate the value of the amenities proposal. This is typically based on the cost to the applicant to deliver the amenities.

For physical amenities, the cost is based on an incremental cost approach (when contained within a larger building/site.) The City also evaluates additional costs incurred by the applicant to deliver the proposed amenities (e.g., rent subsidies and operations and maintenance.) The preferred approach to implementation of community amenities, at the time of adoption, was the establishment of an amenities list and process versus a case-by-case review, to provide greater consistency and predictability. The payment of a fee was also identified as a potential means to comply with the community amenities requirement, although there was a desire to see immediate tangible results delivered by applicants. Therefore, the construction of the amenity was preferable to the payment of a fee, as noted in the applicable community amenities sections in the Zoning Ordinance.

On April 20, 2021, the City Council conducted a study session on community amenities for the Bayfront Area. The City Council subcommittee presented its recommendations, including:

1. adopt a revised community amenities list,

2. adopt an in-lieu fee,
Page F-1.2
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org

3. adopt a “gatekeeper” application process, and

4. establish a community amenities working group.

The City Council provided direction to staff to amend the Zoning Ordinance to establish the in-lieu fee and to allow for negotiated community amenities not identified on the community amenities list through a DA.

The City Council adopted the ordinance establishing an in-lie fee at its meeting June 22, 2021. Work on a potential updated community amenity list (Item 1) and the development of a gatekeeper (or screening) process for community amenities (Item 3) is ongoing. However, this study session is intended to provide a comparable community amenities screening process for the proposed project while staff works on developing the formal screening process.

Willow Village City Council subcommittee
The City Council’s subcommittee for the proposed Willow Village project consists of Mayor Nash and City Councilmember Taylor. The subcommittee has been reviewing the proposed community amenities and meeting with staff and the applicant to discuss the proposal. The subcommittee will continue to work with staff on the DA and community amenities proposal throughout the duration of the entitlement review for the proposed project.

Project site location
The project includes a main project site, the realignment of Hamilton Avenue and the associated parcels on the north and south sides of Hamilton Avenue, and the tunnel access on the Meta (formerly Facebook) West Campus adjacent to Building 20 along Willow Road. Each component is discussed below for reference. The main project site is zoned O-B and R-MU-B, allowing for bonus level development on the main project site. The Hamilton Avenue Parcels are zoned C-2-S (Neighborhood Commercial District, Special.) Attachment D identifies the project site location.

Main project site
The approximately 59-acre main project site is generally located along Willow Road between Hamilton Avenue and Ivy Drive, previously referred to as the ProLogis Menlo Science and Technology Park. The project site currently contains 20 buildings with approximately 1 million square feet of gross floor area. Meta Building 20 is located to the northwest and multifamily and neighborhood commercial uses are to the west, across Willow Road. The main project site is generally bordered by the San Francisco Public Utilities Commission (SFPUC) Hetch Hetchy right of way and Mid-Peninsula High School to the south, the Dumbarton Corridor to the north, and properties within the Menlo Park Labs (formerly Menlo Business Park) to the east.

Hamilton Avenue parcels
The proposed project includes the realignment of Hamilton Avenue west of Willow Road, and the environmental review for the proposed project studies potential redevelopment of the Chevron station on the parcel to the south of Hamilton Avenue (referred to as Hamilton Avenue Parcel South) and the potential expansion of retail uses on the parcels north of Hamilton Avenue (referred to as Hamilton Avenue Parcel North.) Hamilton Avenue Parcel North is bounded by Willow Road to the east, Hamilton Avenue to the south, and the Dumbarton Rail Corridor to the north. Multifamily dwelling units at the 777 Hamilton Avenue property are located to the west. Hamilton Avenue Parcel South is bounded by Hamilton Avenue to the north, Willow Road to the east, and Carlton Avenue to the west. To the south of the site is a 140-unit multifamily BMR residential project that is currently under construction.

Willow Road undercrossing and overcrossing
The main project site would be connected to the Meta West Campus by an undercrossing and an elevated Page F-1.3
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org parkway would connect the main project site with the Hamilton Avenue parcel north. Both the undercrossing and elevated park would include public access for pedestrians and bicyclists.

Proposed project
The applicant, Signature Development Group (SDG) on behalf of Peninsula Innovation Partners, Inc., is proposing to redevelop the project site through the masterplan process, as provided for in the Zoning Ordinance, by utilizing a CDP and entering into a DA, to secure vested rights, with the City. These provisions allow a project to aggregate development potential across the entire site, including square footage, open space requirements, parking, etc. As stated in the site location, the proposed project includes a main project site and off-site components along Hamilton Avenue. The summary below is intended to provide an overview of the proposed project for the City Council.

Main project site
The proposed project would redevelop the main project site with a town square district, a residential/shopping district, and a campus district. The campus district is intended to be occupied by Meta.

The proposed site plan is included in Attachment E and a hyperlink to the project plans is included in Attachment F. The proposed project would result in a total of approximately 1.8 million square feet of nonresidential uses (office and commercial/retail) at the main project site. In addition, the proposed project would include multifamily housing units, a hotel, publicly accessible open space (i.e., elevated linear park, town square, dog park and 3.5 acre publicly accessible park.) The proposed hotel would include 193 rooms and be approximately 172,000 square feet in size. The following table summarizes proposed development at the project site.

Table 1: Main project site project data
Proposed project (CDP standards) Zoning Ordinance bonus level standards (maximums)*
Residential dwelling units 1,730 units** 1,730 units
Residential square footage 1,695,975 s.f. 1,695,975 s.f.

Residential floor area ratio 225% 225%
Commercial Retail
square footage 200,000 s.f. 396,578 s.f.

Commercial Retail
floor area ratio 12.6% 25%
Office square footage 1,600,000 s.f.* 1,774,755 s.f.

Office floor area ratio 113% 125%
*up to 1.25 million square feet of office space, with the balance [e.g., space for accessory uses, including meeting and collaboration space totaling 350,000 square feet if the office square footage is maximized] in multiple buildings; the total square feet includes the 25% non-residential FAR permitted in the R-MU portion of the project site. **The total units would include a minimum of 15 percent of the residential units as BMR units to satisfy the City’s inclusionary requirements. The current BMR proposal also incorporates additional BMR units to comply with the commercial development requirement.

The proposed project would also include a minimum of approximately 19.6 acres of open space, including a minimum of approximately 8.2 acres of publicly accessible open space, both of which exceed the minimum required acreage set by the Zoning Ordinance. The proposed building heights would range from Page F-1.4
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org approximately 15 feet to approximately 117 feet for the glass dome enclosing the meeting and collaboration space. The proposed project includes modification requests for various design standards enumerated by the Zoning Ordinance and an increase in height above the maximum height for the mixed-use building identified as Residential Parcel 3. The proposed project would comply with the height (average) for all buildings within each respective zoning district.

Hamilton Avenue Parcels and Willow Road grade separated crossings The proposed project includes off-site improvements (e.g., the realignment of Hamilton Avenue and the Willow Road undercrossing and elevated park.) The realignment of Hamilton Avenue would result in the demolition and potential reconstruction of the existing Chevron station (Hamilton Avenue Parcel South) and the potential future expansion of retail uses at the existing Belle Haven neighborhood shopping center (Hamilton Avenue Parcel North.)
The realignment of Hamilton Avenue and resulting demolition of the Chevron station are components of the proposed project. However, the potential improvements on Hamilton Avenue Parcels North and South that could occur as a result of the realignment of Hamilton Avenue would be enabled through separate permitting processes.

The table below summarizes the potential development on the two Hamilton Avenue Parcels and the maximum permitted by the underlying zoning district (C-2-S district.) The potential future projects on each parcel are listed below and studied for environmental clearance in the project EIR; however, subsequent permitting would be required for each parcel individually, including use permits and architectural control permits. Specific designs for developments on each parcel have not been submitted at this time.

Table 2: Hamilton Avenue parcels north and south project data Project site Potential future projects Zoning Ordinance maximums* Hamilton Avenue Parcel North 22,400 s.f. 48,134 s.f./(FAR 0.5) Hamilton Avenue Parcel South 5,700 s.f. 21,126 s.f./(FAR 0.5) *Zoning Ordinance maximums represent maximum development potential after realignment of Hamilton Avenue, which includes resubdividing the parcel to reduce the size of Hamilton Avenue Parcel South and increase the size of Hamilton Avenue Parcel North.

Analysis
Bonus level development appraised value
To determine the minimum required value of the community amenities, the applicant submitted an appraisal for bonus level development to the City. The applicant’s initial appraisal for the proposed project concluded that the community amenities value would be approximately $101.6 million.

As with previous projects that have proposed community amenities in exchange for bonus level development, the City commissioned Fabbro, Moore & Associates, Inc. to perform an independent professional peer-appraisal of the applicant’s proposed project. That appraisal determined that the project’s community amenities obligation would be $133.3 million, which the City’s community development director is reviewing and is anticipated to approve (hyperlink Attachment G) pursuant to the municipal code provisions requiring community development director approval of bonus level appraisals (See MPMC

16.43.070(3), 16.45.070(3.)) The appraisal may be subject to further refinements (e.g., cost for PG&E substation upgrades to deliver a predominantly all electric buildings) as the proposed project review Page F-1.5
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org continues and before approval by the community development director.

Community amenities proposal
The applicant submitted a community amenities proposal, which is included in Attachment A. The proposed community amenities include items that are identified on the current community amenities list as well as community amenities that could be approved through the approval of a DA. City staff reviewed the proposal to ensure that standard requirements from the municipal code were not included in the community amenities proposal (e.g., minimum acreage of publicly accessible open space, minimum number of BMR units, and typical bicycle/pedestrian and transportation improvements.) While these components could provide benefits to the broader community, these are already required of the applicant pursuant to existing laws and regulations. The list below identifies the general categories of amenities proposed by the applicant:
• Full-service grocery store and associated rent subsidy • Pharmacy services
• Bank/credit union with ATM
• Workforce/teacher housing
• Restaurants/cafes
• Bicycle/pedestrian trails, paths and lanes
• Job training
• Dog park
• Community entertainment offerings
• Food stability/mobile market
• Elevated park
• Town square
• Additional publicly accessible open space and maintenance obligation Some of the items on the above list (e.g., town square, elevated park, bicycle/pedestrian paths, and additional open space) include components of the item that the applicant considers above and beyond the minimum requirement from the City’s municipal code. For instance, the open space contained within the elevated park and town square would be required by the Zoning Ordinance, but the design of the elevated park could be considered above and beyond the minimum requirements. The current estimate does not remove the cost of designing an equivalent at-grade park with comparable landscaping/site features (i.e., does not include an incremental cost approach to the valuation.) The City Council may wish to provide guidance to staff on whether the full cost of the elevated park could be considered an amenity or if the cost to construct an equivalent at grade open space should be excluded from the value (an equivalent at-grade open space is estimated to cost approximately $11 million.) For the town square, the City’s independent estimate was prepared to assess only the costs of the outdoor plaza and horizontal open spaces, excluding the costs to construct the pavilion buildings with retail space, the underground shared commercial parking garage, and the elevator access to the underground shared commercial parking garage. These specific components are excluded from BAE’s assessment of the value of the town square because they would primarily serve other private commercial uses on the site. Similar to the elevated park, the City Council could provide guidance on whether some of the more typical costs for developing publicly accessible open spaces should be removed from the cost/valuation of the town square.

Further, the applicant is proposing publicly accessible open space throughout the site above the code required minimum, which is valued as an amenity in the applicant’s proposal.

Page F-1.6
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org Community amenities proposal evaluation
The applicant’s community amenities proposal includes a valuation of each of the proposed community amenities. The applicant’s valuation was conducted by multiple firms; the supporting calculations by amenity with reference to the firm valuing the amenity are included in the community amenities proposal exhibits (Attachment H.) In total, the applicant values all of its proposed community amenities at a sum of $295.5 million. This amount exceeds the minimum required community amenity valuation of $133.3 million.

The City also conducted a valuation of each of the proposed community amenities. The City’s valuations were conducted by BAE Urban Economics. BAE and its subconsutlant, Leland Saylor and Associates, evaluated the construction cost calculations, ongoing maintenance/operations costs, and subsidy/financial contributions for each proposed amenity. BAE’s independent evaluation of the community amenities value identified a total amenities valuation of approximately $267.1 million. Table 3 below identifies the specific amenity, the applicant’s valuation, BAE’s valuation, and the delta between the two valuations and staff’s initial evaluation of whether the amenity is on the current adopted amenities list or could be considered through the DA. As stated earlier in the report, community amenities can be provided through 1) provision of an amenity on the City Council-adopted list, 2) provision of an amenity not on the adopted list through a DA, and 3) payment of in-lieu fees or any combination. The City’s evaluation, prepared by BAE, of the applicant’s community amenities proposal is included in Attachment I.

Page F-1.7
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org Table 3: Summary of community amenity proposal valuation Amenity Applicant
valuation
BAE (City’s)
valuation Delta
Amenity
on City
Council
adopted
list
Possible
amenity
provided
through DA
Grocery store space $33,276,808 $30,450,935 ($4,104,123) X Grocer space rent subsidy $2,014,800 $1,972,630 ($42,170) X Pharmacy $1,405,346 $992,340 ($413,006) X
Dining options $10,064,499 $10,316,257 $251,758 X
Community entertainment offerings $11,768,423 $12,247,793 $479,370 X Bank or credit union $1,504,156 $1,557,964 $53,808 X
Willow Road tunnel bike and
pedestrian paths $35,467,818 $22,250,919 ($13,216,899) X Elevated park improvement costs $135,321,486 $133,668,672 ($1,652,814) X Town square Improvement Costs $17,623,908 $15,517,431 ($2,106,477) X Dog park improvements $1,197,682 $1,058,510 ($139,172) X Teacher housing rent subsidies $1,906,772 $1,745,319 ($161,453) X Excess public open space $24,115,309 $18,078,137 ($6,037,172) X Open space operations & maintenance
costs $7,133,693 $4,656,361 ($2,477,332) X
Funding for job training programs $8,363,395 $8,304,907 ($58,488) X Community mobile market funding $4,400,000 $4,299,571 ($100,429) X Total $295,564,095 $267,117,746 ($28,896,349)
The above values may be further refined as the proposed project continues to be reviewed by staff. The values should be considered in evaluating whether the final community amenity proposal meets the applicant’s minimum obligation based on the bonus level development appraisal. The applicant’s proposed Community Amenities are described below.

Grocery store and rent subsidy
The applicant is proposing to incorporate a grocery store into the ground level of the building located at Willow Road and Hamilton Avenue (commonly referred to as Parcel 2.) The grocery store would be located at a prominent entrance to the main project site. The grocery store is proposed to be approximately 39,600 square feet. In addition to the physical space, the applicant is proposing a two year rent subsidy to enable the grocery store to be frontloaded into an early phase of the proposed project; the subsidy would allow the grocery store to be open while the site is still under construction. A grocery store is listed on the adopted Page F-1.8
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org community amenities list. The valuation in table 3 for this amenity does not include any long term operating guarantee or penalty if the grocery store ceases operations in the future. If a penalty is included, the potential cost of such a penalty would be added to the valuation of the amenity, even if the penalty is never triggered.

Pharmacy services
The applicant is proposing approximately 2,500 square feet of pharmacy services. The pharmacy services may be located on the Hamilton Avenue Parcel North (in either an existing tenant space or potential building expansion), within the non-office retail square footage on the main project site as a standalone business, or inboard of another commercial space (e.g., the grocery store.) The exact location of the pharmacy services has not been determined at this time; however, the approximate square footage to deliver the pharmacy services regardless of location within the main project site or the Hamilton Avenue Parcel North has been identified by the applicant and evaluated by the City.

Other commercial space (bank, retail, dining and entertainment offerings) The applicant is proposing approximately 2,660 square feet for a bank/credit union, 18,000 square feet for dining options, and 21,690 square feet for entertainment offerings. The collective non-office retail square footage that the applicant is proposing for community amenities (not including the grocery store) would be a total of approximately 42,350 square feet. The bank/credit union and restaurants are on the adopted community amenities list. Entertainment offerings are not on the adopted list but could be incorporated into the community amenities for the project through the DA. The applicant’s proposal identifies that these types of uses may include a bowling alley, cinema or theater. The specialty uses are not typical of retail spaces and could be considered amenities that might benefit the broader community, while helping to make the proposed project successful.

Workforce/teacher housing
As part of its DA for 301-309 Constitution Drive, Facebook committed up to $430,000 per year for five years ($2,150,000 total) to operate a workforce housing pilot program at 777 Hamilton Avenue to subsidize the rents for 22 units of workforce housing for community-serving professions such as teachers. Through the community amenities proposal, the applicant is proposing to extend this pilot program for a period of 26 months, beginning in February 2022. These units would not be deed restricted BMR housing units. The applicant has negotiated with the property owner to secure these 22 units for teacher housing for the next 26 months. This extension intended to provide a gap period until another Meta supported affordable housing community is completed where these residents could then reside. While the adopted community amenities list includes “High-Quality Affordable Housing,” since these units are not deed restricted and may not meet the income criteria of the City’s BMR ordinance, this proposed community amenity would need to be considered through the DA. It should be noted that the proposed project would comply with the minimum required inclusionary BMR housing requirement (15 percent.) The current BMR proposal incorporates the commercial linkage fee units within the project, increasing the total BMR units to 308 units (or 17.8 percent of the total proposed units.) The total 308 BMR units include 260 inclusionary units and 48 commercial linkage fee units. The teacher housing subsidy at 777 Hamilton Avenue would be provided in addition to the minimum required BMR units on the main project site.

Bicycle/pedestrian trails, paths and lanes
The City’s Zoning Ordinance includes various requirements for bicycle and pedestrian infrastructure through frontage improvement requirements along right-of-ways within and adjacent to the main project site. In addition, the Zoning Map and Circulation Element include multiple paseos (publicly accessible pathways) throughout the site. In addition to meeting the Zoning Ordinance requirements, the proposed project includes a below-grade tunnel connecting the main project site with the Meta West Campus and the existing Page F-1.9
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org tunnel between the West and East Campuses. With the connection to the existing tunnel below Bayfront Expressway, the Willow Road tunnel would provide a connection from the main project site to the Bay Trail.

The City’s adopted Zoning Map and Circulation Element did not identify this connection between campuses and the Bay Trail. However, the adopted community amenities list identifies “Bike trails, paths and lanes” and specifically references connecting new lanes and paths to the existing facilities and the Bay Trail. The proposed Willow Road tunnel would provide an additional connection from the main project site and the broader community to the Bay Trail, increasing recreational opportunities for bicyclists and pedestrians. The tunnel would provide access to the multi-use path along north loop road and the eastern edge of the main project site, providing a link to O’Brien Drive and the broader life sciences area of Menlo Park. The valuation of the tunnel includes the percentage of the tunnel that would be publicly accessible to pedestrians and bicyclists (approximately 35.7 percent of the width.)
Job training
The applicant’s proposal includes financial contributions to two non-profit organizations, Year Up and JobTrain, to support local job training programs. In addition to the applicant’s financial contribution to the organizations, the applicant’s proposal also states that the applicant will fully subsidize all rental costs and operating expenses for the existing Community Hub, located at 1010 O’Brien Drive, for a period of three years. For the financial contribution to JobTrain, the proposal states that it would cover activities such as trades training, the annual breakfast of champions fundraiser, new building construction, training program expansion and development, and career centers in Menlo Park and East Palo Alto over a two-year period.

For Year Up, the applicant states its financial contributions would go to partnership fees and host fees to support up to 86 externs over a three-year period. The financial contributions to Year Up and JobTrain, and the subsidy for the Community Hub generally are within the various amenities listed under “Jobs and Training at M-2 Area Companies” of the adopted community amenities list. As staff continues to review the proposal, components of this item may be considered through the DA, specifically the Community Hub component.

Dog park improvements
The proposed project includes a dog park. The dog park would be located between the proposed senior BMR building and Main Street along the southern boundary of the site, close to the site access point at Main Street and O’Brien Drive. The proposed dog park would be publicly accessible to residents of the project site and the broader community. The adopted community amenity list included a dog park, but the proposed location across Willow Road does not make it easily accessible to Belle Haven residents.

Food stability/mobile market
Since 2017, Facebook has sponsored a weekly community mobile market in the Belle Haven neighborhood and East Palo Alto. The weekly mobile market program sells organic produce and other fresh food products at a discounted rate to local residents. The program is a partnership between Facebook and Good Roots Farmers Markets and Events, which acts as the market vendor. The applicant is proposing to continue funding the Community Mobile Market program for a period of two years starting in 2022 as part of the applicant’s community amenities proposal for the proposed project. This proposed amenity is not on the adopted community amenities list, and can be considered through the DA.

Elevated park
The applicant is proposing a linear elevated park that would extend from the northeastern corner of the main project site to the Belle Haven Parcel North. The elevated park would provide a grade separated connection for bicyclists and pedestrians from the west side of Willow Road (and the Belle Haven neighborhood) to the main project site. The elevated park would provide publicly accessible open space in a unique linear parkway that would be elevated above the town square and Campus Districts. It would provide Page F-1.10
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org direct access to the hotel, the Hamilton Avenue Parcel North, the town square and the multi-use pathways along the northern and eastern edges of the main project site. The applicant’s community amenities proposal includes the unique construction cost for the elevated park improvements and not necessarily the square footage of the publicly accessible open space of the elevated park. The applicant included additional acreage of publicly accessible open space above the Zoning Ordinance minimum requirements in its community amenities proposal, and that proposed amenity is analyzed separately. For this amenity, the applicant is requesting the value of the unique design/improvement be included in the amenities proposal.

This specific improvement is not listed on the adopted amenities list; however, it can be considered to be in the spirit of “Bike Trails, Paths or Lanes” since it links to existing and new infrastructure within the vicinity of the proposed project. Staff believes this proposed amenity could be considered through the DA.

Town square improvements
The town square would provide a central plaza and gathering space adjacent to the elevated park, meeting and collaboration space (part of the secure Campus District), the hotel, and various retail and entertainment uses. The applicant is proposing that the plaza and other horizontal improvement costs be included in the community amenities proposal. Similar to the elevated park, the applicant states that these publicly accessible open space improvements are not typical of other publicly accessible open space and that additional value is provided through the creation of these spaces. Any excess publicly accessible open space within the main project site is evaluated separately. The enhanced improvements within the Town Square can be considered as a community amenity by the City Council through the DA.

Additional publicly accessible open space and maintenance obligation The proposed plan for the project includes publicly accessible open space that would exceed the amount of publicly accessible open space required by the Zoning Ordinance for the main project site. The applicant has proposed a minimum amount of publicly accessible open space that would be required for the project through the CDP. This amount exceeds the minimum required publicly accessible open space by approximately 75,000 square feet (or 1.72 acres.) While the applicant’s illustrative plans currently identify additional acreage of publicly accessible open space, the CDP sets the minimum that the applicant and developers of individual parcels/buildings within the main project site would be required to provide. The additional publicly accessible open space is not specifically identified on the adopted community amenities list; however, the list includes a category for “Park and Open Space Improvements.” The additional publicly accessible open space could be enabled through the DA.

City Council review and input
This overview and agenda item provides an opportunity for the City Council to review the applicant’s current proposal, receive public comment on the community amenity proposal, ask clarifying questions of the applicant and staff, provide feedback on the appropriateness of the amenities, and identify additional details that may be needed for the City Council to consider in its future review of the community amenities proposal as part of the CDP, DA, and other entitlements for the proposed project. The draft bonus level development appraisal and the City’s valuation of each community amenity are provided in this report for background information. In reviewing the community amenities proposal, key topics for the City Council to consider are listed below. The City Council is not limited to this list and may identify other topics for discussion. • Consideration of community amenities not on the City’s adopted community amenities list • Location of proposed amenities within the community or on the project site • Open space improvement design (e.g., town square and elevated park) • Credit for actual built out open space versus CDP minimum requirement • Operational requirements for specific uses (e.g., grocery store, pharmacy, dining, entertainment) Page F-1.11
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org • Variety of proposed community amenities
• Other amenities for consideration
Correspondence
Staff has not received any correspondence specifically on the proposed community amenities.

Impact on City Resources
The applicant is required to pay planning, building and public works permit fees, based on the City’s master fee schedule, to fully cover the cost of staff time spent on the review of the proposed project. The applicant is also required to fully cover the cost of work by consultants performing environmental review and additional analyses to evaluate potential impacts of the project.

Environmental Review
A project level Draft EIR was released April 8, 2022, beginning the 45-day public review and comment period (ending at 5 p.m. Monday, May 23, 2022.) The Planning Commission held a Draft EIR public hearing at its meeting April 25, 2022.

The Project Site is within the General Plan and M-2 Area Zoning Update (ConnectMenlo) study area.

ConnectMenlo, which updated the City’s General Plan Land Use and Circulation Elements and rezoned land in the M-2 Area (now referred to as the Bayfront Area), was approved November 29, 2016. Because the City’s General Plan is a long-range planning document, the ConnectMenlo Final EIR was prepared as a program EIR, pursuant to CEQA Guidelines Section 15168. Section 15168(d) of the CEQA Guidelines provides information for simplifying the preparation of subsequent environmental documents by incorporating by reference analyses and discussions. CEQA Guidelines Section 15162(d) states that where an EIR has been prepared and certified for a program or plan, the environmental review for a later activity consistent with the program or plan should be limited to effects that were not analyzed as significant in the prior EIR or susceptible to substantial reduction or avoidance. The Draft EIR was prepared under the terms of the settlement agreement between the cities of Menlo Park and East Palo Alto, which allows for simplification in accordance with CEQA Guidelines Section 15168 for all topic areas, except housing and transportation. The analysis provided in the Draft EIR tiers from the ConnectMenlo Final EIR, as appropriate.

The Draft EIR finds that impacts related to air quality and noise would be significant and unavoidable. The proposed project would result in potentially significant impacts related to transportation, air quality, energy, greenhouse gas emissions, noise, cultural and tribal cultural resources, biological resources, geology and soils, hydrology and water quality, and hazards and hazardous materials, but these impacts would be reduced to a less-than-significant level with implementation of identified mitigation measures. Impacts related to land use, aesthetics, population and housing, public services and recreation, and utilities and service systems would be less than significant.

More information on the Draft EIR, including how to comment on the Draft EIR, is available in the notice of availability in Attachment J.

Public Notice
Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 Page F-1.12
Staff Report #: 22-093-CC

City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org hours prior to the meeting.

Attachments
A. Applicant community amenities proposal
B. Hyperlink – City Council adopted community amenities list:
menlopark.org/DocumentCenter/View/15009/6360---Community-Amenities?bidId C. Hyperlink – Community amenities appraisal instructions:
menlopark.org/files/sharedassets/public/community-development/documents/appraisal-instructions_1- 10-19.pdf
D. Location map
E. Illustrative site plan
F. Hyperlink – masterplan project plans: menlopark.org/files/sharedassets/public/communitydevelopment/documents/projects/under-review/willow-village/december-2021/masterplan-plan-setdecember-2021.pdf G. Hyperlink – Bonus level development appraisal (City peer appraisal):
menlopark.org/files/sharedassets/public/community-development/documents/projects/underreview/willow-village/draft-willow-village-community-amenities-appraisal.pdf H. Willow Village master plan community amenities proposal supporting exhibits I. Community amenities valuation, prepared by BAE Urban Economics J. Hyperlink – Notice of availability: menlopark.org/files/sharedassets/public/communitydevelopment/documents/projects/under- review/willow-village/draft-eir/20220408-notice-of-availabilitywillow-village-draft-environmental-impact-report.pdf Report prepared by:

Kyle Perata, Acting Planning Manager
Report reviewed by:

Deanna Chow, Assistant Community Development Director
Nira Doherty, City Attorney
Page F-1.13
Community
Amenities & Benefits
APRIL 2022
ATTACHMENT A Page F-1.14
Contents
1 Executive Summary
2 ConnectMenlo Community Amenities Overview
4 Willow Village Community Outreach & Engagement
6 Community Voices: What We Heard
8 Willow Village Plan Revisions Based on Community Feedback 12 Community Amenities & Benefits
Page F-1.15
Peninsula Innovation Partners, LLC is pleased to present to the City of Menlo Park a range of community amenities and benefits incorporated into Willow Village that directly respond to input, feedback and requests we have received from over four years of community outreach and engagement. Our community engagement and community amenities and benefits proposed for Willow Village are consistent with Meta’s decade long partnership with and commitment to the Belle Haven neighborhood of the City of Menlo Park and the broader Menlo Park community.

Meta’s existing commitment to its neighbors has resulted in tens of millions of dollars in direct investment in Belle Haven including the commitment to fund and build a new $40M Menlo Park Community Campus (new community center, youth center, library, senior center) at 100 Terminal Avenue; provide support for small business in Belle Haven and citywide; fund local education and environmental initiatives; rent support for teachers and small business organizations; food subsidy
programs; home rehabilitations for low income
residents; deliver neighborhood improvements;
fund and build local traffic improvements;
sponsor community festivals; provide direct
financial support of Menlo Park community
organizations; and most recently host Covid-19
vaccine clinics for Belle Haven residents.

The current community amenities and benefits
proposed for Willow Village not only meet the
requirements of the ConnectMenlo community
amenities ordinance, but also make Willow
Village a one-of-a-kind place that connects the
existing Belle Haven neighborhood with a new
town square environment to include new retail,
neighborhood services, housing, parks, trails,
open spaces, and employment opportunities.

It will create a place to enjoy, while promoting
community and connection.

These amenities and benefits are in addition to more than $100M in one-time traffic improvements and fees, electrical grid improvements to support all-electric buildings and mitigation measures provided by Willow Village. Willow Village will also provide millions of dollars in ongoing annual revenue to Menlo Park, schools, the fire district and other special districts from the increase in property tax, sales tax from retail and transient occupancy tax from the planned hotel.

We look forward to continued coordination and collaboration with the City on the Community Amenities and Benefits Proposal as we work together as partners to make Willow Village a special place for Belle Haven and Menlo Park for generations to come.

PAGE 1
Executive Summary
While we are required by the ordinance
to deliver community amenities valued at
approximately $133M, we have included
community amenities and benefits valued
at approximately $295M including:
• Full-Service Grocery Store
• Full-Service Grocery Store Rent Subsidy
• Pharmacy Services
• ATM/Banking Services
• Restaurants/Cafes
• Community Entertainment Retail
• Publicly Accessible Open Space
• Bike & Pedestrian Trails, Paths and Lanes
• Dog Park
• Job Training & Internships for Local
Residents
• Rent Support for Local Teachers
• Funding for Food Stability-Mobile Market
Page F-1.16
PAGE 2
ConnectMenlo Community
Amenities Overview
Page F-1.17
The City of Menlo Park adopted the ConnectMenlo General Plan Land Use and Circulation Elements and M-2 Area Zoning Update (“ConnectMenlo”) on December 6, 2016. An outgrowth of extensive community outreach during the ConnectMenlo process, the City’s General Plan establishes that significant new development should provide community amenities, “including jobs, housing, schools, libraries, neighborhood retail, childcare, public open space, telecommunications access, and transportation choices.” As implemented through the City’s Zoning Ordinance, the bonus level development program requires applicants for development at the “bonus” level established in the ordinance to provide community amenities equivalent in value to 50 percent of the value of the additional gross floor area of the bonus level development.

As part of the City process, community amenities provided must (i) be selected from a “Community Amenities” list adopted by the City Council as part of the Connect Menlo process, (ii) be provided through payment of an in-lieu fee, or, (iii) for community amenities that are not on the list, be implemented through a Development Agreement. The Zoning Ordinance provides that construction of the amenities is preferable to payment of a fee.

Based on this policy, Willow Village is required to provide community amenities valued at approximately $133M, or 50 percent of the value of the proposed Willow Village bonus level development as determined by an independent third party appraisal commissioned by the City of Menlo Park in accordance with the City’s appraisal standards. While the Willow Village obligation is $133M in amenity value, we have incorporated $295M in community amenities and benefits value, more than 200% of the requirement.

PAGE 3

WILLOW VILLAGE

PROVIDES

MORE THAN
200%

OF THE REQUIRED

AMENITIES VALUE
Page F-1.18
PAGE 4
Willow Village Community
Outreach & Engagement
Page F-1.19
PAGE 5
The Willow Village team has engaged in an extensive and unprecedented community outreach effort over four years, with special focus, attention, and feedback from our Belle Haven neighbors to help create, shape, and refine Willow Village.

Over that period of time the Willow Village team has:
• Met personally with thousands of neighbors from Belle Haven, nearby neighborhoods, and throughout Menlo Park, as well a community stakeholder groups • Hosted more than 100 small group and one-on-one stakeholder meetings • Convened 10 large group community meetings with more than 500 residents participating
• Facilitated live polling sessions at community meetings to learn more about community amenity, park programming, and retail preferences from neighbors • Received more than 1,000 online surveys responses about Willow Village • Hand delivered bi-lingual flyers to Belle Haven households to encourage participation in community meetings and feedback
• Sent dozens of Willow Village update emails and invitations to Belle Haven neighbors and other Menlo Park residents to encourage input and feedback on plans • Provided ongoing multi-year social media advertising to encourage Menlo Park residents to learn more about Willow Village, take surveys, participate in community meetings and provide input and feedback on the plans
• Met with and received endorsements and support from more than a dozen stakeholder groups including Belle Haven residents and other Menlo Park neighbors, local and regional environmentalists, business organizations, housing advocacy groups and labor organizations
We have focused our efforts in good faith with our neighbors and the City, beginning with the City’s 2016 ConnectMenlo Amenities List and adding thousands of direct conversations with the community for over four years to plan key elements of Willow Village. In 2021 alone, we held four additional community meetings with hundreds of residents, wherein we polled residents on their desired amenities, many of which match directly the 2016 ConnectMenlo list and our plan.

Page F-1.20
PAGE 6
Community Voices:

What We Heard
Top 5 elements considered most important, ranked by the majority of survey respondents:
1) Full-service grocery store
2) Affordable housing
3) A balance in new jobs and new housing units
4) New Town Square
5) Publicly Accessible Open Space
Top Preferred Uses, Retail, ranked by communty meeting attendees:
1) Grocery store
2) Restaurants/cafes
3) Bakery/coffee houses/ice cream
4) Family entertainment (bowling/cinema/live theater)
5) Pharmacy
Top Preferred Uses, Parks/Open Space, ranked by community meeting attendees:
1) Seating areas/benches/picnic areas
2) Grass for landscaped areas for relaxing
3) Community/cultural events/farmer’s markets/food trucks 4) Live music/event venue (i.e. amphitheater)
5) Play structures/games areas
Page F-1.21
PAGE 7
“Collaboration is key”
“Build something for
the community first”
“Do something about the
traffic in the area”
“Facebook should
make sure a grocery
store, pharmacy and
parks are built for the
Belle Haven area”
“Think about the need of the very
low income families of the area.

We need more affordable housing”
“Just be
sure to
work toward
carbon
neutral”
Page F-1.22
PAGE 8
Willow Village Plan
Revisions Based
on Community Feedback
Page F-1.23
As a result of close coordination with our Belle Haven neighbors and Menlo Park stakeholders as a whole, we have revised and improved the Willow Village proposal many times over the years in several ways, directly responding to community feedback with the following refinements.
• Addressed the need for grocery, pharmacy services, restaurants, entertainment, banking and shopping services
• Accelerated major community amenities (grocery store, Town Square, elevated park, retail) to start in Phase I instead of Phase III
• Improved connections to the Belle Haven neighborhood
• Added housing to improve the job/housing balance
• Provided more on-site affordable housing and deeper levels of affordability • Reduced office space and employment capacity by 30%
• Reduced traffic impacts
• Created exciting new open spaces, parks and trails
PAGE 9

BALANCED JOBS

AND HOUSING
Page F-1.24
PAGE 10
Community Amenities
& Benefits
Sustainable LEED Gold design featuring timber
construction materials, on-site renewable energy, all
electric buildings, and a district recycled water system.

Page F-1.25
The Willow Village Community Amenities & Benefits proposal provides $295M in community amenities and benefits. This package of amenities exceeds our requirements under ConnectMenlo for bonus level development and represents more than 2 times the $133M community amenity value required by the Zoning Ordinance.

These community amenities and benefits are in addition to:
• Over $100M in traffic improvements and fees and electrical grid improvements to the area to enable all-electric buildings as well as mitigations required for Willow Village • More than 300 affordable homes planned at Willow Village, including 120 for seniors
• Millions of dollars in ongoing annual revenue to Menlo Park the fire district and other special districts, from Willow Village, including:
– Increased property tax revenue
– Additional sales tax from retail purchases
– Additional transient occupancy tax from hotel
In response to community input and feedback and in compliance with the Community Amenities Ordinance and City Council Resolution No. 6360, Community Amenities List Page 5 - Exhibit A, Willow Village has incorporated the following community amenities and benefits into the project and/or will fund various programs identified below. We propose that amenities and benefits in this proposal in excess of the community amenities requirement be considered as public benefits under a Development Agreement. A summary of the amenities and values are included for reference. The detailed breakdown of quantities, as well as construction, operations, and maintenance costs and other value metrics are provided under separate cover.

WILLOW VILLAGE

PROVIDES
$295M

IN COMMUNITY

AMENITIES
& BENEFITS
Page F-1.26
PAGE 11
Full-Service Grocery Store
Willow Village will fund and construct a full-service grocery store providing a range of goods, including fresh fruits, vegetables and meat and dairy products as a central element of Willow Village.

Value: $33,276,808
Community Amenities & Benefits
PAGE 12
Full-Service Grocery Store – Rent Subsidy
Due to expedited phasing of the Grocery Store, we anticipate funding two years of rent subsidy for the full service grocery store referenced above. Value: $1,972,630
Pharmacy Services
Pharmacy services to fill prescriptions and offer convenience goods will be included as part of the project. Value: $1,405,346 Bank/Credit Union Branch with ATM
A bank or credit union branch with an ATM will be included in the project. Value: $1,504,156
High Quality Affordable Housing
In addition to more than 300 affordable homes located onsite at Willow Village (including 120 affordable homes for seniors), we have made the commitment to subsidize rent for 22 teachers currently living at 777 Hamilton Apartments in Belle Haven, from 2022-2024, when the current subsidy program expires and prior to Meta’s completion of new affordable housing where teachers could then reside in the new location off site. Value: $1,906,772
Page F-1.27
PAGE 13
Restaurants/Cafes
A range of dining options, from cafes to sit-down restaurants, serving residents and local employees will be included in the project (six for the purpose of Community Amenities value).

Value: $10,064,499
New Bike/Pedestrian Trails, Paths and Lanes
Willow Village will fund and construct new bike lanes and pedestrian paths and connect them to existing facilities and the Bay Trail, including the Willow Road bicycle and pedestrian tunnel.

These new bike and pedestrian trails associated with the Willow Village bicycle and pedestrian tunnel are over and above standard city requirements. Value: $35,467,818
Job Training + Community Hub
Willow Village will fund career pathway training and development programs in partnership with local non-profits YearUp and JobTrain, and funding and management of a Community Hub to prepare local residents with jobs skills and fund internships for Belle Haven/Menlo Park residents for three years. Value: $8,363,395
Dog Park
The construction of improvements of a dedicated enclosed place where dogs can run is incorporated into Willow Village.

Value: $1,197,682
Community Entertainment Offerings
Willow Village proposes to incorporate community entertainment offerings such as a cinema, live music, bowling or similar use in direct response to community input about the desire for community entertainment retail amenities. Value: $11,768,423
Page F-1.28
PAGE 14
Food Stability/Mobile Market
Willow Village will fund the Mobile Market program to support food stability efforts in the community. The program will provide fresh, quality produce at a subsidized cost to local residents for two years.

Value: $4,400,000
Elevated Park
We have incorporated an approximately 2-acre Elevated Park to create direct and convenient access between Belle Haven and Willow Village for our neighbors. The park will feature bike and pedestrian paths, gathering spaces, plazas and a variety of landscaped areas, as well as Town Square and Bay overlook plazas.

Value: $135,321,486
Town Square
The Town Square is provided as a place for our neighbors to enjoy and promote community and connection. Town Square will include areas for community gatherings, festivals and farmers markets all surrounded by retail, cafes and restaurants with easy access to the Elevated Park and other retail and community amenities. Value:
$17,623,908
Publicly Accessible Open Space
Willow Village proposes acres of publicly accessible open space improvements, and ongoing land, park and open space improvements and ongoing operating and maintenance costs for these areas, in excess of what is required by City code. Value:
• Publicly accessible open space provided in excess of City requirement: $24,115,309
• Publicly accessible open space operating and maintenance cost: $7,133,693
Page F-1.29
PAGE 15
The Willow Village plan is consistent with the community planning vision of ConnectMenlo, Menlo Park’s General Plan, and more than four years of conversations with neighbors and civic leaders.

Page F-1.30
Page F-1.31
PAGE 16
ALLEY

CARLTON AVE
IVY DR

O'BRIEN DR

ADAMS DR
CT

GERTRUDE

SARATOGA AVE
CT

KIRKWOOD

HACKER WAY

WILLOW RD

KAVANAUGH DR

ALBERNI ST
CASEY
CT

HAMILTON AVE

WILLOW RD

KELLY CT

ADAMS CT

MADERA AVE

HAMILTON CT
STATE HIGHWAY 84

FRONTAGE RD
STATE HIGHWAY 84
1373
1145
1423
990
1394
777
777
1275
1170
1361
1352
1325
1315
875
1 11
1 1001
1275
960
873
777
1374
1420
777
1328
1060
1271
1333
777
1263
1323
1190
1024
1225
777
990
1013
1023
1384
1312
1440
777
1055
1349
1353
777
1253
777
1321 1325
1009
1047
1280
1379
1350
1010
1369
1175
1360
1365
777
1383
778
1324
1399
1346
1010
7 1415
1347
1330
1105
1050
941
1357
940
1321 1317
1375
1080
1135
1135
12 1269
1381
1475
1005
1320
1308
1299
915
1250
15 777
1440
777
1055 2400
777
1430
1165
1165
1100
1385
1332
1340
895
1367
1272
1255
777
1335
1235
927
1392
1286
1354
777
1233
1339
1255
8 998
1370
1389
940
20 1363 1369
1525
1120
964
1269
1348
1360
1050
939
945
1379 1357
1390
1175
1305
1371
16 1090
1338
1235
1431
777
1459
1344
960
1383
1334
925
1331
1317
777
1439
12 1031
1396
1042
891
1190
1200
1030
1103
1304
1375
1020
1313
8 995
12 1185
925
985
313
1050
967
1360
1388
1345
1380
1444
1349
937
959
1374
16 1040
965
970
1395 965
1283
1346
8 1200
1350
1210
1001
1204
980
1140
959
1316
1 1015
1014
953
1025
1205
1002
1360
1378
1352
1396
7 1039
1 1421
949
1364
1275
1303
1215
1100
946
1075
1 1300
1243
1309
16 1416
1353
1407
824
777
1268
1280
1484
1365
10 7
1284
1520
1367
1334
1038
1329
11 1339
1125
1329
1200
1115
777
1401
820
1276
1372
1020
1388
1105 1380
1003
1356
1354
1372 1351
1384
1376
1180
1338
1195
879
1341
1364
1308
15 1375
1376
1160
1390
828
1320
1368
1376
1240
800
1247
1394 1355
15 1098
1170
1595
1220
1599
1320
1215
1 1355
1380
1298
1260
2543
´

CITY OF MENLO PARK

LOCATION MAP

WILLOW VILLAGE
Scale: 1:5,000 | Drawn By: THR | Checked By: KTP | Date: 5/17/2022

ATTACHMENT D
Page F-1.32
North Loop Road
Willow Road East Loop Road
Adams Court
Hamilton Avenue
Ivy Drive
Park Street
West Street Main Street
O’Brien Drive
Main Street
Center Street
East Street
SamTrans Corridor
10b
D
6 10b 5
5 5
13 4
2 1
8 8
9 9
9 9
3 11
11 7
12 12
12 14
15 16
5 /(*(1'
1 Town Square2 Grocery Store on Ground Level3 3XEOLFO\$FFHVVLEOH3DUN4 3XEOLFO\$FFHVVLEOH'RJ3DUN5 (OHYDWHG3DUN$FFHVV (OHYDWRUDQG6WDLUV
6 Elevated Park7 Hotel8 0L[HG8VH%ORFN9 Residential Block 10a 2IŴFH&DPSXV
10b 0HHWLQJ &ROODERUDWLRQ6SDFH
11 3DUNLQJ*DUDJHZLWK7UDQVLW+XERQ*URXQG/HYHO
12 3URSRVHG0XOWLXVH3DWKZD\
13 Willow Road Tunnel
14 5HDOLJQHG+DPLOWRQ$YHQXH
15 +DPLOWRQ$YHQXH3DUFHO1RUWK
16 +DPLOWRQ$YHQXH3DUFHO6RXWK

WILLOW VILLAGE
Menlo Park, CA
Peninsula Innovation PartnersMASTER PLAN
0 100 200 300 500 700'1" = 100' at 24" x 36"
2 min. Walk 1/2 ac
1/8 ac
Conditional Development Permit December 23, 2021
Conceptual Master Plan
G2.01
B1

ATTACHMENT E
Page F-1.33
Amenity Value Exhibit Reference
A full-service grocery store providing a range of goods, including fresh fruits, vegetables and meat and dairy products $33,276,808 Exhibit A Grocery Subsidy $2,014,800 Exhibit B
Pharmacy services that provide prescriptions and offer convenience goods $1,405,346 Exhibit C A bank or credit union branch with an ATM $1,504,156 Exhibit D A range of dining options, from cafes to sit-down restaurants, serving residents and local employees $10,064,499 Exhibit D Install new bike lanes and pedestrian paths within the Tunnel and connect them to existing facilities and Bay Trail $35,467,818 Exhibit E Provide residents with job training programs and Community Hub that prepare them with jobs skills $8,363,395 Exhibit F High Quality Affordable Housing in Belle Haven (Subsidies for teacher housing) $1,906,772 Exhibit G Provide a dedicated enclosed place where dogs can run (improvement costs) $1,197,682 Exhibit H Community Entertainment Offerings (ie Cinema, Live Musci, Bowling, etc.) $11,768,423 Exhibit D Publicly Accessible Open Space Acreage in Excess of Obligation (greater than what is required under ordinance) $24,115,309 Exhibit I Elevated Park Improvement Costs $135,321,486 Exhibit J
Town Square Improvement Costs $17,623,908 Exhibit K
Publicly Accessible Open Space Operations & Maintenance Costs $7,133,693 Exhibit L Food Subsidies - Mobile Market $4,400,000 Exhibit M
TOTAL $295,564,095
Willow Village Community Amenities Valuation Summary
ATTACHMENT H Page F-1.34
Grocery Line Item Cost Backup Total cost of grocer parking $ 29,806,649 Grocery Parking $6,142,967 Parking at 3.3/1,000 3.3/thousand 131 21% Grocery Cold Shell $9,312,014 Exhibit 1 add'l retail spaces 151 24% Grocery Warm Shell $6,732,392 Exhibit 6 resi spaces 352 56% Grocery landlord TI $5,543,300 $140/sf TOTAL parking spaces 634 Sub‐total Grocery Bldg $27,730,673
39,595 SF of retail
Soft Costs $5,546,135 20% of hard costs 131 spaces at 3.3/thousandTOTAL Grocery Cost $33,276,808

EXHIBIT A

GROCERY COST BACKUP
Page F-1.35

EXHIBIT B
Grocery Subsidy
$2.30/mo. x 24 mo. x 36,500 sf = $2,014,800
Page F-1.36
767 Bridgeway, Suite 3C
Sausalito, CA 94965
415.292.7200
www.RetailWestInc.com
Matthew Holmes
Retail West, Inc.
767 Bridgeway, Suite 3C
Sausalito, CA 94965
June 22, 2021
Paul Nieto
Signature Development Group
2335 Broadway, Suite 200
Oakland, CA 94612
Willow Village Project
Paul,
In response to community demands and a growing residential population in the Bayfront Expressway area, we have targeted a grocery store as a critical component to the retail component at the proposed Willow Village project. In order to induce a grocer to the Willow Village project in the first phase (prior to all construction being completed and all residents having moved-in) the rent subsidies will be needed in an amount that approximates 60 PRQWKVRIUHQWLQRUGHUIRUWKHVWRUH·VRSHUDWLRQVWRVWDELOL]H:HDUHH[SHFWLQJDVWRUHRI WKHVL]HSURSRVHGIRU:LOORZ9LOODJHZRXOGKDYHDVWDUWLQJUHQWWKDWFDSVRXWDWDPRQWKO\ rent rate in the range of $2.25 - $2.50 per square foot triple net.

Given the importance of fresh local foods to the immediate community and the strong draw a grocer provides to a project with daily needs shoppers, we are viewing this as a critical first step to creating a dynamic project.

Page F-1.37
Cost/SF* SF Soft Costs (20%) TOTAL
1,405,346 Pharmacy Services $ 468 2,500 234,224 1,405,346 *Based on BAE cost/SF for bank/credit union

EXHIBIT C

PHARMACY SERVICES COST BACKUP
Page F-1.38
Cost/SF* SF Soft Costs (20%) TOTAL
Bank/Credit Union           471$ 2,660                  250,693 1,504,156 Dining           466$ 18,000              1,677,417      10,064,499 Entertainment           452$ 21,690              1,961,404      11,768,423 * Based on BAE costs

EXHIBIT D

BANK/CREDIT UNION, DINING, ENTERTAINMENT COST BACKUP
Page F-1.39

EXHIBIT E
Willow Road Tunnel Bike
and Pedestrian Access
Page F-1.40






 




  





 








 






 

 




















 




6-&"16
1-""2
6
1#6 '++.6

)6 .* $/ +66

6
50,!+(6
 
6 36 6 6 6 6
6
6 6 46 6  % 6 
 


 



   



    
 









Y

Y

Y

Y 

Y


 



01'3.#Y



!.#1397WY


 
 


3"Y5!4Y
67350Y"5)1=Y ,

 

 850Y
 +- +-#Y








  


UYY!9/:#576Y




  

137#
Y
6QKKJLOYJCYBU@>S>NFJIYFMYIJOYMEJTIY
6Q?MRLC>@BY@JIAFPFJIMY?>MBAYJIY
#IDBJY?JLGIDY

Y
 #$
-$"'$
&%- 
-
%- 
-







%- &*- 


$
- & %-
-
 %- - %'$- 

-

 ($- - !$ &- 
-
& &
-'&-)

)-&'
-

61)7Y5VY6#;#5Y#.#!85)!.Y
;7#5 Y%6 Y!300Y$* #5Y347)!Y

 

 $+..Y
XY01'3.#!/#2397Y
 %5391";7#5YHY .#Y
4#"6Y






!.<6+.7Y
;)8(Y61"Y
 
&5:#/Y
;)8(Y




-



  -



 -


-


 -





 - 

-



-


-




 -








5.71 !$& % !%&$
 '%- 
35,467,818
 ,



 
 









 




 


 
 





















6 6



WILLOW ROAD TUNNEL
Page F-1.41

EXHIBIT F

JOB TRAINING PROGRAM
Page F-1.42

JOB TRAINING COSTS
Year Up On-site Training (see image)* Years
$ 1,500,000 '22-24
$ 4,189,817 '22-24
$ 1,477,578 '22-24
$ 1,196,000 '22-23
Partnership Fees - Fee Paid to Year Up
Host Fees to host 86 externs - Helps provide stipends, financial support for transportation, and legal support for participants
Community Hub Expenses - includes cleaning expenses, professional services, utilities, repairs and maintenance, building services and supplies, rent credit Job Train **
Trades Training
Annual Breakfast of Champions Fundraiser
New Building Construction
Training Program Expansion & Development
Career Centers MPK/EPA
TOTAL $ 8,363,395
* 60% historical participation from Belle Haven/Menlo Park areas ** yearly costs are subject to change - these estimates are based on historical information
Page F-1.43

EXHIBIT G

SUBSIDIES FOR TEACHER HOUSING
(777 HAMILTON PROGRAM)
Type # Units 2021 Rent Monthly Total Notes
1 Bedroom 15 $ 4,132.72 $ 61,990.82 market rent for unit 2 Bedroom 7 $ 4,983.58 $ 34,885.03 market rent for unit Monthly Total $ 96,875.85
Average collections from tenants $25,000 reflects 30% of teacher's pay towards rent Monthly FB Due $ 71,875.85 FB subsidy payment
Number of Months in extension period 26 February 2022 - March 2024 Estimated Cost of Extension $ 1,868,772.05
Management Cost $38,000
Total Cost including admin $1,906,772.05
Page F-1.44

EXHIBIT H
Dog Park Improvement Costs

Page F-1.45





yªˆÔ ´i¸—ÔєʑÔ
r”ž‰Ô ')(5CÔjsÔ
’k¹zÔt«ÂÊÔ /+!]b,Ô Ã†Ô ÒÔ
Š‚ŸÀ™Ôº·Í”»ƒœ ÊÄÔ EÔ
{Å”‹¡Ô WÔ
|Æ”Œ¢Ô u¬£Ê•¤¥vÓÔ 0F
Ô
Ž„¦ÁšÔw­§}”Ê”®¨ÇÔ N
Ô
p¯£~ÈÔ Ô ”£Éοo©xÔ 7

Ô
°Ð¼“l|ÔÔ µ½±‡–ËÔ"O
Ô
ʲÌm›Ô ”œ¶¾ªÐœÊÔqϏÊÔ
€³Ô ¶n¾˜Ô

V[Ô Ô \=a >6*Ô
DÔ Ô ?8#@X1Ô


 Gc$AHdÔ
2I
Ô  /9Y$B/<Ô
P
Ô  J-$eQKÔ
:Ô  /R$f^_Ô
SÔ  L. gTMÔ

3%4hZ#U`;

























 


























  





































 


 
 


 

 


 

 





 

 

 

 





 







 





$

!"#


&

%
 &




 








 
 




 
 




















 


 

 




 




Page F-1.46

EXHIBIT I
Excess Open Space Land Value Calculations

Page F-1.47
Willow Village – Open Space Land Value Calculations April 7, 2022 Land
Use
Required Publicly
Accessible
Proposed Publicly
Accessible
Publicly Accessible Open Space
Breakdown
R-MU 47,110.43 sf (1.08 ac) 175,047 sf (4.02 ac) x Park (entire parcel including parking, frontage)
= 149,017 sf (3.42 ac)
x Dog Park = 13,235 sf (0.30 ac)
x P3 retail = 12,795 sf (0.29 ac)
x Town Square = 54,461 sf (1.25 ac)
x Multi-use path = 77,278 sf (1.77ac)
x Elevated Park (include segment
over Willow, outside property)
= 78,241 sf (1.80 ac)
O 237,946,94 sf (5.46 ac) Include Elevated Park
within Willow
property = 209,980 sf
(4.82 ac)
Total 285,057.37 sf (6.54 ac) Include Elevated Park
within Willow
property = 385,027 sf
(8.84 ac)
Publicly Accessible Open Space SF Acres Required Open Space - SF Acres Community Park 149,017 3.42
Town Square 54,461 1.25
285,057 6.54
Multi-Use Path 77,278 1.77
Sub-total 280,756 6.45
78,241 1.80
13,235 0.30
12,795 0.29
Subtotal 104,271 2.39
Open Space in Excess of Required
Grand Total 385,027.00 8.84 99,970 2.29
Willow Village size ac
Appraisal Value
Bonus Development
Value per Acre

59.4 $623,700,000
$10,507,820
Value of Proposed Excess Open Space Acreage
$24,115,309
Elevated Park
Dog Park
P3 Retail
Page F-1.48

EXHIBIT J
Elevated Park Improvement Costs
Page F-1.49
Project # 20-00685.00
:LOORZ9LOODJH Project
Menlo Park, CA
Schematic Design 05/06/21
Element Subtotal Total Cost / SF Cost / SF
A) Shell (1-5) $83,191,477 $899.81
1 Foundations $20,798,684 $224.96
2 Vertical Structure
3 Floor & Roof Structures $38,208,347 $413.27
4 Exterior Cladding $21,965,550 $237.58
5 Roofing and Waterproofing $2,218,896 $24.00
B) Interiors (6-7)
6 Interior Partitions, Doors and Glazing
7 Floor, Wall and Ceiling Finishes
C) Equipment and Vertical Transportation (8-9) $5,750,000 $62.19 8 Function Equipment and Specialties
9 Stairs and Vertical Transportation $5,750,000 $62.19
D) Mechanical and Electrical (10-13) $6,097,716 $65.95
10 Plumbing Systems $1,109,448 $12.00
11 Heating, Ventilation and Air Conditioning
12 Electrical Lighting, Power and Communications $4,063,728 $43.95 13 Fire Protection Systems $924,540 $10.00
E) Site Construction (14-16) $15,317,505 $165.68
14 Site Preparation and Demolition
15 Site Paving, Structures & Landscaping $15,317,505 $165.68 16 Utilities on Site
$110,356,698 $1,193.64

4.96% $5,473,692 $59.20
$115,830,390 $1,252.84

3.27% $3,787,654 $40.97
$119,618,044 $1,293.81

0.30% $358,854 $3.88
$119,976,898 $1,297.69

0.65% $717,319 $7.76
$120,694,216 $1,305.45
Included Included
$120,694,216 $1,305.45

0.80% $965,554 $10.44
$121,659,770 $1,315.90

2.75% $3,345,644 $36.19
$125,005,414 $1,352.08

7.50% $9,375,406 $101.41
$134,380,820 $1,453.49

0.70% $940,666 $10.17
$135,321,486 $1,463.66
Subtotal
General Conditions
Subtotal
General Requirements
Subtotal
Precon GC's
Subtotal
Builder's Risk on Direct Cost Only
Subtotal
SDI
Subtotal
P&P
Subtotal
Contractor's Fee
Subtotal
Design / Construction Contingency
Subtotal
Liability Insurance
7otal
TOTAL ESTIMATED CONSTRUCTION COST $1,, $1,.

SUMMARY - ELEVATED PARK
Prepared by
Page F-1.50

EXHIBIT K
Town Square Improvement Costs
Page F-1.51
Project # 20-00685.00
Town Square
Menlo Park, CA
Schematic Design - Rev 1 05/06/21
Element Total Cost / SF
1 Site Paving, Structures & Landscaping $11,987,561 $171.25 2 Utilities on Site $2,385,000 $34.07
Subtotal $14,372,561 $205.32
General Conditions 4.96% $712,879 $10.18
Subtotal $15,085,440 $215.51
General Requirements 3.27% $493,294 $7.05
Subtotal $15,578,734 $222.55
Precon GC's 0.30% $46,736 $0.67
Subtotal $15,625,470 $223.22
Builder's Risk on Direct Cost Only 0.65% $93,422 $1.33
Subtotal $15,718,892 $224.56
SDI Included Included
Subtotal $15,718,892 $224.56
P&P 0.80% $125,751 $1.80
Subtotal $15,844,643 $226.35
Contractor's Fee 2.75% $435,728 $6.22
Subtotal $16,280,370 $232.58
Design / Construction Contingency 7.50% $1,221,028 $17.44 Subtotal $17,501,398 $250.02
Liability Insurance 0.70% $122,510 $1.75
Subtotal $17,623,908 $251.77
Escalation to MOC, 07/31/24 12.89% $2,271,359 $32.45
TOTAL ESTIMATED CONSTRUCTION COST $19,895,267 $284.22

SUMMARY - TOWN SQUARE
Prepared by Page 1 of 3
TOTAL AREA: 70,000 SF
Page F-1.52

EXHIBIT L
Publicly Accessible Open Space Operations &
Maintenance Costs
Page F-1.53
Maintenance
Area Item Units Total Monthly Total Annually Standard
Town Square Plaza Electricity 1 708.00 8,496.00 Utility Town Square Plaza Water 1 243.75 2,925.00 Utility
Town Square Plaza Janitorial Maintenance 1 83.33 1,000.00 Industry Standard Town Square Plaza Janitorial Supplies 1 50.00 600.00 Industry Standard Town Square Plaza Landscape Area 7500 375.00 4,500.00 Estimated Quantity Town Square Plaza Landscape & Irrigation Supply 1 93.75 1,125.00 DRE Town Square Plaza Tree Maintenance 80 266.67 3,200.00 Industry Standard Town Square Plaza Minor Repairs 1 250.00 3,000.00 Industry Standard Town Square Plaza Refuse 10 150.00 1,800.00 DRE
Town Square Plaza Pest Control 1 125.00 1,500.00 DRE
Town Square Plaza Pet Waste Station Supplies 0 0.00 0.00 Industry Standard Town Square Plaza Lighting Maint. & Supply 50 0.00 0.00 Estimated Quantity Town Square Plaza Elevator Maintenance 0 0.00 0.00 Industry Standard Town Square Plaza Backflow Device Maintenance 1 33.33 400.00 Industry Standard Town Square Plaza Vandalism/Contingency 1 118.94 1,427.30 Industry Standard TOTAL MAINTENANCE 2,497.78 29,973.30
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General Concrete Pavers 69,500 0.08 0 463.33 5,560.00 DRE General Concrete Seat Wall - LF 600 0.05 0 2.50 30.00 DRE General Entry Monument 0 0.00 20 0.00 0.00 Industry Standard Amenities Plaza Furniture 8 20,000.00 8 1,666.67 20,000.00 Industry Standard Amenities Pet Waste Station 0 2,250.00 10 0.00 0.00 Industry Standard Amenities Trash Receptacles 10 500.00 10 0.00 0.00 Estimated Quantity Amenities Tubular Steel Fence - LF 0 1.00 0 0.00 0.00 Industry Standard Amenities Tubular Steel Fence - SF 0 3.00 0 0.00 0.00 Industry Standard Amenities Railing - LF 0 3.00 0 0.00 0.00 Industry Standard Amenities Lighting - Pedestrian Poles 50 100.00 0 416.67 5,000.00 Estimated Quantity Amenities Drinking Fountains 0 1,500.00 10 0.00 0.00 See Willow Village Budget Amenities Elevators 0 4,000.00 8 0.00 0.00 DRE
Landscape Irrigation Controllers 1 4,000.00 1 333.33 4,000.00 Industry Standard Landscape Tree Replacement - 3% 2 300.00 1 60.00 720.00 Industry Standard Landscape Landscape 7,500 0.05 0 31.25 375.00 Estimated Quantity Landscape Landscape - Synthetic Turf 0 0.05 0 0.00 0.00 Industry Standard TOTAL RESERVES 2,973.75 35,685.00
TOTAL BUDGETED AMOUNT 5,471.53 65,658.30
Town Square Plaza
This budget is for Town Square Plaza and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.54
Maintenance
Area Item Units Total Monthly Total Annually Standard
Public Access Park Electricity 1 159.00 1,908.00 Utility Public Access Park Water 1 2,470.90 29,650.80 Utility
Public Access Park Janitorial Maintenance 1 83.33 1,000.00 Industry Standard Public Access Park Janitorial Supplies 1 50.00 600.00 Industry Standard Public Access Park Landscape Area 134,600 6,730.00 80,760.00 DRE Public Access Park Landscape & Irrigation Supply 1 1,682.50 20,190.00 DRE Public Access Park Tree Maintenance 0 0.00 0.00 See Willow Village Budget Public Access Park Minor Repairs 1 250.00 3,000.00 Industry Standard Public Access Park Playground Inspections 1 41.67 500.00 Industry Standard Public Access Park Pest Control 1 125.00 1,500.00 DRE
Public Access Park Lighting Maint. & Supply 0 0.00 0.00 See Willow Village Budget Public Access Park Backflow Device Maintenance 1 33.33 400.00 Industry Standard Public Access Park Vandalism/Contingency 1 208.33 2,500.00 Industry Standard TOTAL MAINTENANCE 11,834.07 142,008.80
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General Paint 0 0.16 0 0.00 0.00 See Willow Village Budget General CIP Concrete 670 0.05 0 2.79 33.50 DRE
General Asphalt - Parking Lot 13,600 0.20 0 226.67 2,720.00 See Willow Village Budget General Entry Monument 1 10,000.00 20 41.67 500.00 Industry Standard General Playground Area, Equip, Fencing 1 1,000,000.00 15 5,555.56 66,666.67 Industry Standard Amenities Benches 8 1,200.00 15 53.33 640.00 Industry Standard Amenities Bike Racks 0 1,000.00 10 0.00 0.00 See Willow Village Budget Amenities Trash Receptacles 0 500.00 10 0.00 0.00 See Willow Village Budget Amenities Signage 0 5,000.00 0 0.00 0.00 See Willow Village Budget Amenities Drinking Fountains 0 1,500.00 10 0.00 0.00 See Willow Village Budget Amenities Restroom Fixtures 1 15,000.00 12 104.17 1,250.00 Industry Standard Landscape Irrigation Controllers 1 4,000.00 12 27.78 333.33 Industry Standard Landscape Tree Replacement 0 300.00 0 0.00 0.00 See Willow Village Budget Landscape Landscape 134,600 0.05 0 560.83 6,730.00 DRE
TOTAL RESERVES 6,572.79 78,873.50
TOTAL BUDGETED AMOUNT 18,406.86 220,882.30
Public Access Park
This budget is for Public Access Park and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.55
Maintenance
Area Item Units Total Monthly Total Annually Standard
Dog Park Plaza Electricity 1 433.50 5,202.00 Utility
Dog Park Plaza Water 1 120.00 1,440.00 Utility
Dog Park Plaza Janitorial Maintenance 1 125.00 1,500.00 Industry Standard Dog Park Plaza Janitorial Supplies 1 50.00 600.00 Industry Standard Dog Park Plaza Landscape Area 0 0.00 0.00 See Willow Village Budget Dog Park Plaza Landscape & Irrigation Supply 1 250.00 3,000.00 DRE Dog Park Plaza Tree Maintenance 14 46.67 560.00 Estimate Dog Park Plaza Minor Repairs 1 250.00 3,000.00 Industry Standard Dog Park Plaza Pest Control 1 125.00 1,500.00 DRE
Dog Park Plaza Pet Waste Station Supplies 4 150.00 1,800.00 Industry Standard Dog Park Plaza Lighting Maint. & Supply 3 7.50 90.00 Industry Standard Dog Park Plaza Vandalism/Contingency 1 77.88 934.60 Industry Standard TOTAL MAINTENANCE 1,635.55 19,626.60
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General Pea Gravel 4,000 0.20 0 66.67 800.00 DRE
General Entry Monument 1 10,000.00 20 41.67 500.00 Industry Standard Amenities Concrete Seats 8 2,500.00 15 111.11 1,333.33 Industry Standard Amenities Pet Waste Station 4 2,250.00 10 75.00 900.00 Industry Standard Amenities Trash Receptacles 3 500.00 10 12.50 150.00 Estimated Quantity Amenities Tubular Steel Fence - LF 418 1.00 0 34.83 418.00 Industry Standard Amenities Tubular Steel Fence - SF 5,016 3.00 0 0.00 0.00 Industry Standard Amenities Lighting - Pedestrian Poles 3 100.00 0 25.00 300.00 Industry Standard Amenities Drinking Fountains 4 1,500.00 10 50.00 600.00 Industry Standard Landscape Irrigation Controllers 1 4,000.00 12 27.78 333.33 Industry Standard Landscape Tunnel Access Boulders 5,600 0.50 0 233.33 2,800.00 Estimated Quantity Landscape Tree Replacement 14 300.00 0 0.00 0.00 See Willow Village Budget Landscape Landscape 0 300.00 1 10.50 126.00 DRE
Landscape Landscape - Synthetic Turf 740 3.00 0 185.00 2,220.00 Industry Standard TOTAL RESERVES 873.39 10,480.67
TOTAL BUDGETED AMOUNT 2,508.94 30,107.27
Dog Park Plaza
This budget is for Dog Park Plaza and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.56
Maintenance
Area Item Units Total Monthly Total Annually Standard
Elevated Park Electricity 1 2,357.00 28,284.00 Utility
Elevated Park Water 1 1,543.13 18,517.50 Utility
Elevated Park Janitorial Maintenance 1 83.33 1,000.00 Industry Standard Elevated Park Janitorial Supplies 1 50.00 600.00 Industry Standard Elevated Park Landscape Area 86,250 4,312.50 51,750.00 DRE Elevated Park Landscape & Irrigation Supply 1 1,078.13 12,937.50 DRE Elevated Park Tree Maintenance 150 500.00 6,000.00 Estimated Quantity Elevated Park Minor Repairs 1 500.00 6,000.00 Industry Standard Public Access Park Playground Inspections 1 83.33 1,000.00 Industry Standard Elevated Park Pest Control 1 125.00 1,500.00 DRE
Elevated Park Pet Waste Station Supplies 0 0.00 0.00 Industry Standard Elevated Park Lighting Maint. & Supply 24 60.00 720.00 Industry Standard Elevated Park Elevator Maintenance 4 1,166.67 14,000.00 Industry Standard Elevated Park Backflow Device Maintenance 1 33.33 400.00 Industry Standard Elevated Park Vandalism/Contingency 1 250.00 3,000.00 Industry Standard TOTAL MAINTENANCE 12,142.42 145,709.00
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General CIP Concrete 1,370 0.05 0 5.71 68.50 DRE
General Entry Monument 1 10,000.00 20 41.67 500.00 Industry Standard General Public Art 1 100,000.00 30 277.78 3,333.33 Industry Standard General Play Plaza Equipment 1 50,000.00 15 277.78 3,333.33 Industry Standard General Play Structure 1 75,000.00 15 416.67 5,000.00 Industry Standard General Picnic Plaza 1 30,000.00 15 166.67 2,000.00 Industry Standard General Plaza Kiosk 1 25,000.00 15 138.89 1,666.67 Industry Standard Amenities Concrete Seats 8 2,500.00 15 111.11 1,333.33 Industry Standard Amenities Benches 8 1,200.00 15 53.33 640.00 Industry Standard Amenities Pet Waste Station 4 2,250.00 10 75.00 900.00 Industry Standard Amenities Trash Receptacles 0 500.00 10 0.00 0.00 See Willow Village Budget Amenities Tubular Steel Fence - LF 500 1.00 0 41.67 500.00 Estimated Quantity Amenities Tubular Steel Fence - SF 6,000 3.00 0 1,500.00 18,000.00 Estimated Quantity Amenities Railing - LF 1,520 3.00 0 380.00 4,560.00 Estimated Quantity Amenities Lighting - Pedestrian Poles 24 100.00 0 200.00 2,400.00 Industry Standard Amenities Drinking Fountains 0 1,500.00 10 0.00 0.00 See Willow Village Budget Amenities Elevators - Cab Refiburhment 4 5,000.00 10 166.67 2,000.00 DRE Landscape Irrigation Controllers 1 4,000.00 1 333.33 4,000.00 Industry Standard Landscape Tree Replacement - 3% 5 300.00 1 112.50 1,350.00 Industry Standard Landscape Landscape 86,250 0.05 0 359.38 4,312.50 DRE
Landscape Landscape - Synthetic Turf 0 0.20 1 0.00 0.00 See Willow Village Budget TOTAL RESERVES 4,658.14 55,897.67
TOTAL BUDGETED AMOUNT 16,800.56 201,606.67
Elevated Park
This budget is for Elevated Park and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.57

EXHIBIT M
Food Subsidies - Mobile Market
Page F-1.58
Description Rate per unit Qty # Weeks Annual Total NOTES PRODUCTCommunity Mobile Market (MPK)
Meal Deal Bags (Classic & Veg) $29 400 42 $493,500 Rate per unit =wholesale cost per bag; quantities are based on current sales numbers Farm Boxes (Ag products) $24 375 42 $376,945 Rate per unit =wholesale cost per bag; quantities are based on current sales numbers Ala Carte Product – Dairy, Meat,
Mini Meals, flowers, etc $90 100 42 $378,000
Rate per unit =wholesale cost per all individual items combined; quantities are based on current sales numbers
Subtotal $143 $1,248,445
Description Rate per unit Qty # Weeks Annual Total NOTESMANAGEMENT & LOCAL LABOR Local Labor $10,982.40 52 $571,084.80 12 employees @ approx $23/hour x 40 hours per week Program Management $1,220.30 52 $63,455.60 Flat rate for weekly program management x 52 weeks Subtotal $12,203 $634,540
Description Rate per unit Qty # Weeks Annual Total NOTESEQUPMENT, RENT, SUPPLIES All costs are shared between 3 programs that FB funds and operate year‐round. "4" (as in 4 months out of 12) is used to divide up the costs evenly between the 3 programs.

Vehicle costs, insurance &
maintenance $35,800 4.0 $143,200 *5 truck leased (see below photo) Equipment (generators, fork lifts,
fridge, all warehouse equipment
costs)
$9,105 4.0 $36,420
Supplies (Office, farm boxes,
cleaning, misc warehouse supplies) $1,703 4.0 $6,812
Warehouse Rental $20,092 4.0 $80,368 7,500 sq ft warehouse space leased for inventory needs Subtotal $66,700 16.0 $266,800
TOTAL PROJECT FEES $2,149,785
Mobile Market Truck Fleet (4 of 5 pictured)
TOTAL ANNUAL MOBILE MARKET COSTS X 2 YEARS $4,299,570CONTINGENCY $100,000TOTAL MOBILE MARKET PROGRAM COSTS $4,399,570ROUNDED VALUE $4,400,000

COMMUNITY MOBILE MARKET
Page F-1.59
bae urban economics
San Francisco Sacramento Los Angeles Washington DC New York City 2560 9th St., Suite 211 803 2nd St., Suite A 448 South Hill St., Suite 701 1140 3rd St. NE, 2nd Floor 234 5th Ave.

Berkeley, CA 94710 Davis, CA 95616 Los Angeles, CA 90013 Washington, DC 20002 New York, NY 10001 510.547.9380 530.750.2195 213.471.2666 202.588.8945 212.683.4486 www.bae1.com
Draft Memorandum

To: Kyle Perata, Acting Planning Manager
Deanna Chow, Assistant Community Development Director
Justin Murphy, Deputy City Manager
From: Chelsea Guerrero, Vice President
Stephanie Hagar, Associate Principal
Date: April 27, 2022
Re: Evaluation of Revised Willow Village Project Community Amenities Proposal Purpose
This memorandum provides BAE’s assessment of the value of the applicant’s revised community amenities proposal for the proposed Willow Village project in Menlo Park. The Cityapproved appraisal for the project site identified a required amenity value of $133.3 million, and the project applicant has submitted a community amenities proposal package that consists of several different components. The applicant has provided an assessment of the value of each component of the revised community amenities proposal and estimated the total value of the revised community amenities proposal package at approximately $295.6 million. This memorandum does not assess whether the proposed amenities are appropriate, whether they fall within the current amenity list adopted by City Council resolution, or whether the same amenities have already been provided by another applicant. This memorandum evaluates the methodologies and key assumptions that the applicant used to determine the value of the revised community amenities proposal package and provides BAE’s determination of the value of each component.

Key Findings
Table 1 on the next page provides a summary of the value of each component of the applicant’s revised community amenities proposal package. As shown, BAE found that the total value of the applicant’s revised community amenities proposal package is $267,117,746.

It should be noted that BAE’s valuation of the applicant’s community amenity proposal package is based on current development program components and preliminary design concepts that are subject to change as the project undergoes review and approval. Hence, some aspects of the valuation of the community amenities proposal may require adjustments ATTACHMENT I Page F-1.60
2 depending on the final project components and design approved by the City. Therefore, the City may wish to incorporate an audit provision in the development agreement with the developer for the purposes of verifying that community amenities are provided in a manner that is consistent with this evaluation.

Table 1: Summary of Community Amenity Proposal Valuation for Proposed Willow Village Project
Amenity Applicant Valuation BAE Valuation
Grocery Store Space $33,276,808 $30,450,935
Grocer Space Rent Subsidy $2,014,800 $1,972,630
Pharmacy $1,405,346 $992,340
Dining Options $10,064,499 $10,316,257
Community Entertainment Offerings $11,768,423 $12,247,793 Bank or Credit Union $1,504,156 $1,557,964
Willow Road Tunnel Bike and Pedestrian Paths $35,467,818 $22,250,919 Elevated Park Improvement Costs $135,321,486 $133,668,672 Town Square Improvement Costs $17,623,908 $15,517,431
Dog Park Improvements $1,197,682 $1,058,510
Teacher Housing Rent Subsidies $1,906,772 $1,745,319
Excess Public Open Space $24,115,309 $18,078,137
Open Space Operations & Maintenance Costs $7,133,693 $4,656,361 Funding for Job Training Programs $8,363,395 $8,304,907 Community Mobile Market Funding $4,400,000 $4,299,571
Total $295,564,095 $267,117,746

Project Description
The proposed project, the Willow Village Master Plan, would consist of approximately up to 1,730 residential units, up to 200,000 square feet of non-office/commercial retail, approximately 1,600,000 square feet of office use (up to 1.25 million sf of office space, with the balance [e.g., space for accessory uses, including meeting and collaboration space totaling 350,000 sf if the square footage for office use is maximized] in multiple buildings), a hotel, publicly accessible park improvements, and open space. The project applicant is seeking approvals to construct the project at the bonus level density, floor area ratio (FAR), and height in exchange for community amenities, as defined in the Zoning Ordinance. The Zoning Ordinance allows a project to develop at a greater level of intensity with an increase in Page F-1.61
3 density, floor area ratio, and/or height in exchange for providing community amenities, which are intended to address identified community needs that result from the effect of the increased development intensity on the surrounding community. Community amenities also enable the surrounding community to benefit from the substantial increase in project value that is attributable to the increase in density, floor area, and/or height enabled through the Zoning Ordinance. Full project details are available on the City of Menlo Park website (https://www.menlopark.org/1251/Willow-Village).

Community Amenities Proposal
Because the proposed project would be built at the bonus level of development, the project applicant is required to provide community amenities in exchange for the additional development potential that is allowable under the bonus level density. In the case of the subject project, an appraisal commissioned by the City determined that the value of the required community amenity must equal a minimum of $133.3 million. The project applicant has proposed a package of community amenities that includes a full-service grocery store with subsidized rent for two years, pharmacy services, a bank or credit union, dining options, entertainment offerings, teacher housing rent subsidies, park improvements, publicly accessible open space (above minimum required by Zoning Ordinance), open space operations and maintenance, and a community mobile market.

Valuation of Community Amenities Proposal
This section describes the applicant’s methodology for assigning a value to each component of the revised proposal package, presents BAE’s methodology for assigning a value to each component, and provides BAE’s independent determination of the value of each component.

For evaluating and estimating community amenity construction costs, BAE engaged Leland Saylor and Associates (LSA), a highly qualified construction cost consultancy based in San Francisco and Los Angeles. LSA has over 30 years’ experience in cost analysis and construction management focusing on education, civic and transit projects, as well as other publicly funded projects.

Grocery Store Space
The applicant plans to provide a grocery store on the ground floor of one of the residential buildings in the project along with shared parking spaces that would serve the grocery store.

The applicant’s valuation of the grocery store includes a value for the space itself as well as a value for a rent subsidy that the applicant would pay on behalf of the grocery store operator.

This section addresses the valuation of the space itself. The valuation of the grocery store rent subsidy is addressed in a following subsection of this report.

The applicant’s assessment of the value of the grocery store space is based on construction costs for the building shell, construction costs for the parking spaces allocated to the grocery store use, and a proposed additional financial contribution for tenant improvements. The applicant’s proposal states that the applicant would provide an additional landlord tenant Page F-1.62
4 improvement contribution to offset the grocery store operator’s costs to build out the space.

BAE’s valuation of the applicant’s proposal is also based on the cost to construct the grocery store space. However, BAE’s cost estimate is based on an independent assessment of the incremental costs associated with constructing the commercial building shell and grocery store parking spaces. The independent cost estimate assesses the incremental costs associated with including the grocery store space and grocery store parking components within the project, net of all costs that the developer would incur regardless of whether the applicant included these components. Some costs associated with developing the project, such as construction costs for residential space, residential parking, demolition, landscaping, and some site work, would be incurred regardless and are not affected by the inclusion of the grocery store space and are therefore not included in the incremental cost associated with providing the grocery store space as a community amenity. The incremental construction cost approach values the commercial building shell and grocery store parking components based on the estimated added cost associated with including these components within the project.

BAE’s valuation also excludes the cost of a standard tenant improvement allowance for the grocery store space but does include an additional proposed tenant improvement allowance that exceeds the standard allowance. Because a standard tenant improvement allowance would typically be included in the base rent for the grocery store, the value of a standard tenant improvement allowance is incorporated into the value of the applicant’s proposed rent subsidy for the grocery store. BAE’s valuation excludes the $35 per square foot tenant improvement allowance from the applicant’s warm shell construction cost estimate on the basis that this allowance is already accounted for in the value of the base rent subsidy for the grocery store. BAE’s valuation includes the additional $140 per square foot landlord tenant improvement contribution amount on the basis that this contribution is above and beyond the standard tenant improvement allowance amount that would be covered in a typical commercial lease.

Applicant’s Valuation of Proposal for Grocery Store Space. The applicant’s valuation of the grocery store space is summarized in Table 2. As shown, the applicant’s valuation of the proposed grocery store space totals $33,276,808 and consists of five components: cold shell construction costs for a 37,563 square-foot grocery store ($9,312,014), warm shell construction costs for the grocery store ($6,732,392), estimated parking construction costs for the grocery store ($6,142,967), a landlord contribution toward tenant improvements ($5,543,300), and soft costs for all of the above ($5,546,135). It should be noted that the proposed grocery store square footage has changed during the course of this analysis and that different square footages may be used for the exterior shell vs. interior improvements, and therefore the materials from the applicant show three slightly different square footage figures.

The applicant’s cold shell and warm shell construction cost estimates show a grocery store space measuring 37,563 square feet and 37,173 square feet, respectively. As of the writing of this memorandum, the proposed grocery store square footage totals 39,595, which is the figure that the applicant used to calculate an additional landlord contribution toward tenant Page F-1.63
5 improvements as well as the number of parking spaces that are allocated to the grocery store for the purpose of calculating the grocery store parking construction cost.

Table 2: Applicant Valuation of Proposal for Grocery Store Space The applicant provided detailed construction cost estimates to support the applicant’s assessment of the value of the cold shell and warm shell construction costs for the grocery store space shown in Table 2. The applicant’s assumption for the number of parking spaces associated with the grocery store use (130.7 spaces) is based on the maximum parking requirements allowable for retail uses under current zoning (3.3 spaces per 1,000 square feet), which City staff have confirmed is an appropriate parking ratio for the purpose of allocating parking construction costs to the grocery store. To estimate parking construction costs for the grocery store use, the applicant provided an estimate of the total parking costs for the entire parcel ($29,806,649), inclusive of the residential parking spaces in the basement of the mixed-use building, and then allocated parking costs to the grocery store use based on the number of grocery store parking spaces as a share of the total parking spaces on the parcel (130.7 grocery store parking spaces ÷ 634 total parking spaces). As noted above, the applicant used the current proposed grocery store square footage of 39,595 square feet to allocate parking spaces to the grocery store use.

Revised
Applicant
Valuation
Grocery Cold Shell Construction Costs $9,312,014
Grocery Warm Shell Construction Costs $6,732,392
Estimated Parking Construction Costs for Grocery Store Use $6,142,967 Proposed Additional Landlord Tenant Improvement Contribution $5,543,300 Subtotal, Grocery Store Hard Construction Costs $27,730,673 Soft Costs $5,546,135
Total Value of Grocery Store Space $33,276,808
Key Assumptions
Grocery Square Footage in Cold Shell Cost Estimate 37,563 Grocery Square Footage in Warm Shell Cost Estimate 37,173 Total Proposed Grocery Store Square Footage 39,595
Proposed Additional Tenant Improvement Contribution ($ / proposed sf) $140 Total Parking Spaces on Parcel 2 634
Parking Spaces Allocated to Grocery Store (3.3 spaces / 1,000 proposed sf) 130.7 Other Commercial Parking Spaces on Parcel 2 151.3
Total Residential Parking Spaces on Parcel 2 352
Total Parcel 2 Parking Construction Costs $29,806,649
Grocery Parking Spaces as % of Total Parking Spaces 20.6% Estimated Parking Construction Costs for Grocery Store Use $6,142,967 Soft Costs as a % of Hard Costs 20%
Sources: Signature Development Group; BAE, 2022.

Page F-1.64
6 The project applicant’s proposal for the grocery store space also includes an additional landlord tenant improvement contribution for the grocery store operator that occupies the space, equal to $140 per proposed square foot ($5,543,300 total additional tenant improvement contribution ÷ 39,595 proposed square feet). In a typical commercial space lease, the property owner provides new tenants with a tenant improvement allowance to cover a portion of the cost to build out the interior of the space to suit the tenant’s needs. The total cost of tenant improvements often exceeds the tenant improvement allowance provided by the property owner, and the tenant bears the remainder of the cost. The applicant’s warm shell construction cost estimate includes a base tenant improvement allowance reimbursement totaling $1,301,055, equal to $35 per square foot (using the 37,173-square-foot store size as noted above). According to the applicant, the proposed additional $140 per square foot tenant improvement contribution would be in addition to, and entirely separate from, the base tenant improvement allowance that is included in the applicant’s detailed warm shell cost estimate for the grocery store space. The applicant applied a 20-percent soft cost allowance to the $140-per-square-foot allowance, effectively resulting in an assumed allowance equal to $168 per square foot.

BAE’s Valuation of Proposal for Grocery Store Space. BAE’s valuation of the proposal for the grocery store space is based on the estimated construction cost associated with providing the space, similar to the methodology that the applicant used to value the space. However, BAE’s valuation is based on an independent cost estimate prepared by LSA to assess the incremental costs to the developer associated with constructing the grocery store space and associated parking spaces that would serve the grocery store use. The purpose of the independent assessment was to estimate the costs that would be associated with constructing the grocery store space and grocery store parking spaces as separate components within the project, net of the costs that the developer would incur regardless of whether the applicant included these components. As stated above, certain costs associated with constructing the building where the grocery store would be located – such as construction costs for residential space, residential basement parking, demolition, landscaping, and some site work – would be incurred regardless and are not affected by the inclusion of the grocery store space. Therefore, these costs are not included in the incremental cost associated with providing the grocery store space as a community amenity. BAE’s analysis applied a 20- percent soft cost assumption to the incremental construction cost estimate to value the grocery store space as a community amenity.

LSA’s incremental construction cost estimate for the revised proposal is based on a 37,563- square foot grocery store space, which is consistent with the detailed cold shell cost estimate that was provided by the applicant. As mentioned above, the applicant has since updated the proposed grocery store square footage to total 39,595 square feet. LSA used the same parking ratio proposed by the applicant for the grocery store space (3.3 spaces per 1,000 square feet) to allocate parking spaces to the grocery store use. However, LSA’s assumption for the total number of parking spaces allocated to the grocery store use (124 spaces) is lower Page F-1.65
7 than the total number of grocery store parking spaces shown in the applicant’s estimate (130.7 spaces) because LSA’s incremental parking cost estimate is based on the applicant’s prior proposal for a 37,563-square-foot grocery store space, rather than the current proposed 39,595-square-foot space. To estimate the incremental construction cost for the applicant’s current grocery store proposal, BAE calculated the cost per gross grocery store square foot from LSA’s February 2022 estimate and applied that figure to the current proposed grocery store square footage. As shown in Table 3, BAE’s valuation applies a 20 percent soft cost assumption to the incremental construction cost estimate for the commercial building shell and grocery store parking spaces.

Unlike the applicant’s construction cost estimate for the grocery store space, LSA’s incremental cost estimate excludes all items that would normally be categorized as tenant improvements. A standard commercial lease typically includes a tenant improvement allowance, which is included as part of the tenant’s base rent. As discussed in further detail in the following subsection of this memorandum, the proposed community amenity package includes a rent subsidy for the grocery store operator in addition to the construction of the grocery store space itself. Because a standard tenant improvement allowance would often be included in the base rent, the value of a standard tenant improvement allowance is incorporated into the value of the rent subsidy. Therefore, including the cost of a standard tenant improvement allowance into the value of constructing the store space would essentially double-count the value of the standard allowance – once in the construction cost estimate and again in the value of the rent subsidy. This is a somewhat conservative approach to avoid overvaluing the grocery store space, as tenant improvement allowances and lease rates are typically negotiated as part of the lease-up process, and therefore some grocery store leases do not include a tenant improvement allowance as part of the base rent. For example, a tenant might choose to forego a tenant improvement allowance in exchange for a lower rental rate.

Separate from a standard tenant improvement allowance, BAE’s valuation of the grocery store space includes the applicant’s proposed additional landlord tenant improvement contribution of $140 per square foot as a distinct line item separate from the value of constructing the building shell. This additional contribution exceeds the standard allowance that would be included in the base rent for the space. In effect, BAE’s approach excludes the $35 per square foot tenant improvement allowance from the applicant’s warm shell construction cost estimate on the basis that this allowance is included in the base rent subsidy but includes the additional $140 per square foot landlord tenant improvement contribution on the basis that this contribution is above and beyond the amount that would be covered in a typical commercial lease. Unlike the applicant’s valuation, BAE’s assessment of the value of the additional landlord tenant improvement contribution does not include soft costs. The applicant’s proposal does not explicitly commit to covering soft costs associated with the additional $140 per square foot allowance, and therefore this analysis assumes that any Page F-1.66
8 additional soft costs would be covered by the grocery store tenant and would not constitute a community amenity.

BAE’s total valuation of the applicant’s proposal for the grocery store space is $30,450,935, which is $2,825,873 less than the applicant’s valuation. It should be noted that the grocery store, like much of the project proposal, is currently in a conceptual planning phase, and the factors that affect the value of the grocery store as a community amenity could change before the grocery store is complete and operational. As the grocery store proposal is further refined, any future changes to the square footage of the grocery store would affect the estimated value. In addition, the total cost of tenant improvements and the tenant improvement allowance that will be included in the base rent will ultimately depend on the specific grocer and the terms under which the property owner provides the space to the grocery store tenant.

According to the applicant, there is no specific grocery store tenant identified at this time, nor is there an identified future owner for the space to act as the grocery store tenant’s landlord.

During the lease-up process, negotiations between the landlord and tenant could result in a tenant improvement allowance that is included in the base rent that differs from the $35 per square foot figure provided by the project applicant, with potential implications for the base rent that is discussed in the following subsection of this report. The analysis provided in this memorandum provides a reasonable estimate of the value of the applicant’s proposal to provide a grocery store as a community amenity based on the information that is currently available. However, the actual value may differ somewhat from this estimate as the grocery store is constructed, leased, and begins operations. The City may choose to review the final lease agreement between the property owner and the grocery store operator to ensure that the terms of the lease align with the terms that drive the valuation estimate provided in this analysis.

Page F-1.67
9 Table 3: BAE Valuation of Proposal for Grocery Store Space Notes:
(a) Incremental construction costs for the grocery store space and associated parking spaces are based on the February 2022 estimate prepared by Leland Saylor Associates (LSA). The project applicant has since revised the grocery store square footage. This analysis uses the cost per square foot from the February 2022 incremental construction cost estimate and applies that figure to the updated square footage. For more information on the February 2022 estimates, refer to the detailed estimate..

Sources: Leland Saylor Associates; BAE, 2022.

Rent Subsidy for Grocery Store
The applicant’s community amenities proposal states that the applicant will subsidize rental costs for the grocery store space for a period of two years. The applicant has indicated that the mixed-use building with the grocery store will be subdivided, with the grocery store condominium space sold to an entity that will be separate from the owner of the residential portion of the building. However, the owner of the grocery store space may or may not be associated with the project applicant. According to the applicant, the applicant will likely form a special purpose entity to own and lease the space to the grocer and will likely sell the grocery store space or refinance after some period of time. Because the grocery store will rely in part on support from residents and workers that will occupy the development that will occur in subsequent phases of the project, the applicant anticipates that a free rent incentive or a direct rent subsidy will be necessary for the first two years of the grocery store’s operation in order to bring a grocery store tenant into the space during the earlier phases. Both the applicant’s valuation and BAE’s valuation of the rent subsidy are based on the concept that the subsidy brings the grocery store to the area in the first phase of the project, when demand for a grocery store is more limited, rather than one of the later phases.

Applicant’s Valuation of Grocery Store Rent Subsidy. The applicant’s valuation of the rent subsidy is equal to the assumed monthly rent for the store multiplied by 24 months. The applicant assumes that the market-rate rent for the space is equal to $2.30 per square foot per month, triple net (NNN), with no annual increase in the second year, resulting in an Revised BAE
Valuation
Total Incremental Construction Costs (a) $20,756,362
Soft Costs for Building Shell and Parking $4,151,272
Total Proposed Financial Contribution for Tenant Improvement Costs $5,543,300 Total Value of Grocery Store Space $30,450,935
Key Assumptions
Proposed Grocery Store Square Footage 39,595
Incremental Construction Cost Estimate Assumptions
Total Incremental Construction Cost (incl. grocery parking) (a) $19,691,154 Grocery Store Square Footage used for Incremental Const. Cost Estimate (a) 37,563 Est. Incremental Construction Cost per Square Foot (a) $524.22 Soft Costs as a % of Hard Costs 20%
Total Proposed Contribution for Tenant Improvement Costs $5,543,300 Proposed Additional Landlord Tenant Improvement Contribution (per sq. ft.) $140 Page F-1.68
10 estimated community amenity value of $2,014,800 ($2.30/mo. x 24 mo. x 36,500 sq. ft.). In a standard NNN lease, the tenant pays the NNN rent amount plus all other expenses (i.e., “triple net expenses”) for the property, including utilities, property taxes, building insurance, and maintenance. This is in contrast to a full-service lease, where the rental rate covers all expenses for the property. The applicant’s proposal does not assign any community amenity value for the triple net expenses for the grocery store space, which suggests that the tenant would be responsible for all triple net costs associated with renting the grocery store space and that the applicant’s subsidy would cover the rent only.

BAE’s Valuation of Grocery Store Rent Subsidy. BAE’s valuation of the grocery store rent subsidy is relatively similar to the applicant’s valuation, with some minor adjustments, including calculating the present value of the subsidy. BAE reviewed data from CoStar on supermarket rents in Menlo Park, East Palo Alto, Palo Alto, and Redwood City, and determined that the applicant’s NNN rent assumption of $2.30 per square foot per month is reasonable.

However, BAE applied a standard 3.0 percent rent escalation for the second year of the subsidy to calculate the total rent amount for the two-year period, then calculated the net present value of the rent subsidy. These calculations are shown in Table 4 below. As shown, this analysis results in a valuation of $1,972,630 for the grocery store rent subsidy, $42,170 less than the valuation provided by the applicant.

The value of the grocery store rent subsidy will ultimately depend on the terms under which the property owner provides the space to a grocery store operator. BAE’s valuation ($1,972,630) is based on a scenario in which the applicant will construct the grocery store space and either:
a) sell it to a third party that will rent the space to a grocery store tenant, with the applicant paying the rent for the space for the first two years, including rent escalation in year 2, either through direct payments to the owner or to the grocery store tenant; or b) retain ownership of the space and provide it to the grocery store tenant rent-free for a period of two years.

BAE’s analysis does not model a scenario in which the applicant would sell the space to a third party with the expectation that the third-party owner would offer free rent to a grocery store tenant, with no direct subsidy from the applicant. In this scenario, the two-year rent subsidy would result in the applicant receiving a lower sale price for the space compared to a scenario in which no rent subsidy is required. However, the magnitude of the financial impact to the applicant in this scenario may not be equivalent to the financial impact that BAE has modeled in this analysis.

Page F-1.69
11 Table 4: BAE Valuation of Grocery Store Rent Subsidy Sources: Signature Development Group; BAE, 2021.

Pharmacy Services
The applicant’s community amenity proposal includes 2,500 square feet for pharmacy services, which could consist of a small stand-alone pharmacy or 2,500 square feet of pharmacy uses within another use, such as a pharmacy within the grocery store. The applicant has not yet proposed an exact location for the pharmacy services. The proposal to include 2,500 square feet of pharmacy services is a reduction from the applicant’s initial proposal to provide a 12,000-square-foot, stand-alone pharmacy. The initial proposal consisted of a remodel of a portion of an existing building on the Hamilton Avenue Parcel North and the construction of an addition to the building to create the 12,000-square-foot space.1 The applicant’s valuation of the proposal for pharmacy services is based on LSA’s incremental cost estimates for the bank or credit union commercial space, including commercial parking spaces, adjusted based on the proposed 2,500 square foot pharmacy space. BAE’s estimate is based on LSA’s estimate of the incremental cost of constructing a 2,500-square-foot building addition on Hamilton Avenue Parcel North, which LSA prepared in response to the applicant’s initial proposal.

Applicant’s Valuation of Proposal for Pharmacy Services. Although the applicant’s proposal does not specify an exact location for the pharmacy space, the applicant proposes to value the pharmacy space amenity using an incremental cost for one of the other new commercial spaces proposed within the mixed-use building on parcel 3. Specifically, the applicant proposes to use LSA’s November 2021 incremental cost per square foot estimate for the bank or credit union commercial space, which includes the incremental cost of constructing the new commercial space plus parking spaces allocated to the bank or credit union use. A summary of the applicant’s proposed method for valuing the revised proposal for the pharmacy space is provided in Table 5 below.
1 According to the applicant, the change in the applicant’s proposal for pharmacy services has been informed by discussions with individuals in the pharmacy industry and recent actions by major pharmacy chains to close and downsize thousands of pharmacies nationwide. The applicant has reduced the size of the pharmacy space to 2,500 square feet based on industry forecasts and feedback from users of pharmacy spaces.

Year 0 1
Space Rent Subsidy $1,007,400 $1,037,622
Present Value $1,007,400 $965,230
NPV of Cash Flows $1,972,630
Assumptions
Year 0 Rent (NNN) ($/sf/month) $2.30
Rentable Grocery Store Space (sf) 36,500
Annual Growth Rate 3.0%
Assumed Discount Factor 7.5%
Page F-1.70
12 Table 5: Applicant’s Proposed Method for Valuing the Revised Proposal for the Pharmacy Space
Note:
(a) The applicant adjusted LSA’s November 2021 incremental cost estimate for the bank or credit union on parcel 3 to reallocate parking spaces to the commercial space based on the maximum allowable parking ratio for retail uses under current zoning. The applicant’s adjusted incremental cost estimate is slightly higher than the incremental cost shown in LSA's November 2021 cost estimate.

Sources: Signature Development Group; BAE, 2022.

BAE’s Valuation of Proposal for Pharmacy Services. While BAE used an incremental construction cost approach to value the proposal for pharmacy services, BAE’s approach differs from the approach proposed by the applicant. The applicant’s proposed method for determining the value of the pharmacy space only applies to a scenario where the pharmacy space is provided on the ground floor of the mixed-use building on parcel 3. In this scenario, new shared commercial parking spaces within the mixed-use building would be allocated to the pharmacy use at the maximum ratio allowable under current zoning. The total incremental costs associated with constructing new commercial space and allocated parking spaces on parcel 3 would be much higher than the incremental costs associated with remodeling an existing space or constructing a building addition at the existing shopping center at Hamilton Avenue Parcel North.

Due to the uncertainty related to the future location and configuration of the pharmacy services, BAE’s valuation is based on a more conservative approach compared to the applicant’s valuation to avoid overestimating the applicant’s actual cost of constructing the pharmacy space and the potential value of the applicant’s revised proposal. However, BAE’s approach could still overestimate the value of the revised proposal, as the final configuration of the proposed pharmacy services is yet to be determined. BAE’s valuation of the revised proposal for pharmacy services is based on the incremental cost of constructing a 2,500- square-foot building addition on Hamilton Avenue Parcel North.

To estimate the incremental cost of constructing a 2,500-square-foot building addition for a pharmacy, BAE relied on the incremental construction cost estimates that LSA provided for the applicant’s initial proposal for a 12,000-square-foot pharmacy, as shown in Attachment 3. The Applicant
Valuation
(Revised)
Proposed Square Feet 2,500
Adjusted Incremental Cost per Sq. Ft. (a) $468.45
Total Incremental Hard Construction Costs $1,171,122
Soft Costs $234,224
Total Value of Proposed Amenity $1,405,346
Key Assumptions
Soft Costs as a % of Hard Costs 20%
Page F-1.71
13 incremental cost estimate in the attachment shows the cost of constructing a building addition as a line item separate from the cost of remodeling the existing building space. As shown in Table 6, BAE used the estimated incremental cost of constructing the new building addition ($330.78 per square foot) from LSA’s November 2021 incremental cost estimate for the pharmacy space on Hamilton Avenue Parcel North to determine the value of the applicant’s revised proposal for the pharmacy space as part of this evaluation. As shown, this analysis results in a valuation of $992,340 for the pharmacy space, $413,006 less than the valuation provided by the applicant.

However, it should be noted that the pharmacy proposal is still in the conceptual phases and will continue to evolve over time as the applicant finalizes the location and configuration of the space, which may result in a value for the pharmacy services that is higher or lower than the estimate provided in the table below. If the pharmacy is located within the grocery store or one of the other commercial spaces that are included in the applicant’s proposal, with no change in the overall square footage of the commercial space that includes the pharmacy, inclusion of the pharmacy would not affect the cost of the building core, shell, or parking for the grocery store or other commercial space. In this instance, the additional incremental construction cost associated with including the pharmacy in one of these commercial spaces, compared to the cost of building the commercial space without the pharmacy, would be zero.

If the final proposal for pharmacy services consists of using a portion of one of the commercial spaces that are part of the overall community amenity package, the City could consider valuing the pharmacy space based on its share of the overall commercial space and reducing the value of the remaining commercial space by the same amount.

Table 6: BAE Valuation of Revised Proposal for Pharmacy Space Notes:
(a) This analysis assumes that there is sufficient existing surface parking on the Hamilton parcel to serve a new 2,500- square-foot pharmacy space at the maximum parking ratio allowable under current zoning (3.3 spaces per 1,000 square feet).
(b) Incremental hard construction cost estimate for the new commercial building addition on the Hamilton parcel based on the November 2021 concept estimate prepared by Leland Saylor Associates (LSA). For more information, refer to the detailed estimate provided in Attachment 3.

Sources: Leland Saylor Associates; BAE, 2022.

BAE
Valuation
(Revised)
Proposed Commercial Square Feet 2,500
Number of Allocated Parking Spaces (a) 0
Estimated Incremental Cost per Sq. Ft. (b) $330.78
Total Incremental Hard Construction Costs $826,950
Soft Costs $165,390
Total Value of Pharmacy Space $992,340
Key Assumptions
Soft Costs as a % of Hard Costs 20%
Page F-1.72
14 Other Commercial Space Amenities
The applicant’s revised proposal includes new commercial space for a bank or credit union, dining options, and community entertainment offerings within the mixed-use building located on parcel 3. The applicant’s revised proposal also includes commercial parking spaces to accommodate the new commercial uses. The applicant’s valuations rely in part on incremental cost estimates that LSA prepared in November of 2021, which were based on a prior proposal that the applicant had previously submitted for the commercial spaces. The applicant adjusted LSA’s November 2021 incremental cost estimates to re-allocate parking spaces and associated incremental parking costs for each commercial space based on the maximum parking requirements for retail uses under current zoning. The applicant then applied the adjusted incremental cost estimates to the new proposed commercial square footages in the applicant’s revised proposal in order to determine the value of providing the commercial spaces and associated parking spaces under the applicant’s revised proposal.

BAE’s valuation is based on a revised cost estimate prepared by LSA in March of 2022 that assesses the incremental costs of constructing the commercial spaces and allocated parking spaces as they are proposed in the applicant’s revised proposal.

Applicant Valuation of Proposal for Other Commercial Spaces. As mentioned above, the applicant’s valuations rely on incremental cost estimates that LSA prepared in November of 2021 for a prior proposal submitted for the commercial spaces within the mixed-use building located on parcel 3. LSA’s assumption for the number of parking spaces associated with each commercial space in the November 2021 incremental cost estimate was based on the minimum parking requirements allowable for retail uses under current zoning (2.5 spaces per 1,000 square feet). The applicant adjusted LSA’s November 2021 incremental cost estimates to re-allocate parking spaces for the commercial spaces based on the maximum allowable parking ratio for retail uses under current zoning to estimate the value of the proposed commercial spaces in the applicant’s revised proposal. This approach for allocating parking construction costs to the commercial uses was confirmed through discussions with City staff.

These calculations are shown in Table 7.

Table 7: Applicant Valuation of Proposal for Other Commercial Spaces Note:

Bank/ Dining Entertainment
Applicant Valuation (Revised) Credit Union Options Offerings Proposed Commercial Square Feet 2,660 18,000 21,690
Number of Allocated Parking Spaces 9 59 72
Adjusted Incremental Cost per Sq. Ft. (a) $471.23 $465.95 $452.14 Total Incremental Hard Construction Costs $1,253,463 $8,387,083 $9,807,019 Soft Costs $250,693 $1,677,417 $1,961,404
Total Value of Proposed Amenity $1,504,156 $10,064,499 $11,768,423 Key Assumptions
Commercial Parking Ratio (Spaces per 1,000 Commercial Sq. Ft.) 3.3 Soft Costs as a % of Hard Costs 20%
Page F-1.73
15 (a) The applicant adjusted LSA’s November 2021 incremental cost estimates to re-allocate parking spaces to the commercial spaces based on the maximum allowable parking ratio for retail uses under current zoning. The applicant’s adjusted incremental cost estimates are higher than the incremental cost estimates in LSA's November 2021 estimate.

Sources: Signature Development Group; BAE, 2022.

BAE Valuation of Proposal for Other Commercial Spaces. As mentioned above, BAE’s valuations for the commercial spaces for a bank/credit union, dining options, and community entertainment are based on the incremental costs associated with constructing the commercial spaces and allocated parking spaces. BAE relied on the March 2022 incremental cost estimate prepared by LSA and provided in Attachment 4, rather than the November 2021 estimates, to estimate the incremental costs of constructing the commercial spaces and allocated parking spaces proposed in the applicant’s revised proposal. Consistent with the applicant’s revised proposal, parking spaces were allocated to each commercial space amenity based on the maximum parking requirements for retail uses under current zoning.

BAE applied a 20 percent soft cost assumption to the incremental hard construction cost estimates shown in the attachment to determine the value of each commercial space amenity.

These calculations are shown in Table 8.

Table 8: BAE Valuation of Proposal for Other Commercial Spaces Notes:
(a) Parking spaces are allocated to each commercial use based on the maximum parking requirements for retail uses under current zoning.
(b) Incremental hard construction costs for the commercial spaces and associated parking spaces are based on a March 2022 estimate prepared by Leland Saylor Associates (LSA). For more information, refer to the detailed estimates provided in Attachment 4.

Sources: Leland Saylor Associates; BAE, 2022.

Willow Road Tunnel Bike and Pedestrian Paths
The applicant plans to provide a grade-separated tunnel with dedicated paths for bikes and pedestrians under Willow Road as part of the project and is proposing to provide the bike and pedestrian path improvements as a community amenity. The applicant’s valuation of the Willow Road Tunnel bike and pedestrian paths is based on improvement costs for the portion Bank/ Dining Entertainment
BAE Valuations (Revised) Credit Union Options Offerings Proposed Commercial Square Feet 2,660 18,000 21,690
Number of Allocated Parking Spaces (a) 9 59 72
Estimated Incremental Cost per Sq. Ft. (b) $488.08 $477.60 $470.56 Total Incremental Hard Construction Costs $1,298,303 $8,596,881 $10,206,494 Soft Costs $259,661 $1,719,376 $2,041,299
Total Value of Proposed Amenity $1,557,964 $10,316,257 $12,247,793 Key Assumptions
Commercial Parking Ratio (Spaces per 1,000 Commercial Sq. Ft.) (a) 3.3 Soft Costs as a % of Hard Costs 20%
Page F-1.74
16 of the tunnel that would serve pedestrians and bike uses. The applicant estimated the portion of the tunnel dedicated to the bike and pedestrian paths based on the width of the paths as a ratio of the total width of the tunnel. BAE used a similar approach to estimate the portion of the tunnel dedicated to the pedestrian and bike paths. However, BAE’s evaluation relies on the independent cost estimate prepared by LSA for the Willow Road tunnel provided in Attachment 6.

Applicant’s Valuation of Willow Road Tunnel Bike and Pedestrian Paths. The applicant’s valuation of the Willow Road Tunnel bike and pedestrian paths is based on the applicant’s construction budget for the Willow Road Tunnel, which is provided in Attachment 1 (applicant’s Exhibit D). To assign a value to the bike and pedestrian paths, the applicant first estimated the portion of the tunnel that would serve pedestrians and bike uses by dividing the width of the proposed bike and pedestrian paths by the total width of the tunnel (15 ft. ÷ 42 ft. =

0.3571). The applicant multiplied the total construction budget for the Willow Tunnel ($99,321,810) by the portion of the tunnel dedicated to bike and pedestrian paths (0.3571) to estimate the value of the proposed bike and pedestrian paths. This analysis results in a valuation of $35,467,818, as shown in Table 9.

Table 9: Applicant’s Valuation of Willow Road Tunnel Bike and Pedestrian Paths Sources: Signature Development Group; BAE, 2022.

BAE’s Valuation of Willow Road Tunnel Bike and Pedestrian Paths. BAE used a similar approach as the applicant to estimate the portion of the Willow Road Tunnel dedicated to the bike and pedestrian paths. However, BAE’s valuation is based on the independent cost estimate prepared by LSA for the tunnel, which estimated the total construction costs for the Willow Road tunnel at approximately $62.3 million. Similar to the applicant, BAE multiplied the total cost for the Willow Road Tunnel by the quotient between the width of the bike and pedestrian paths and the total width of the tunnel (15 ft. ÷ 42 ft. = 0.3571). These calculations are shown in Table 10 below. As shown, this analysis results in a valuation of $22,248,249 for the Willow Road Tunnel bike and pedestrian paths, $13,219,569 less than the valuation provided by the applicant.

Applicant
Valuation
(Revised)
Total Willow Road Tunnel Construction Budget $99,321,810 Portion of Tunnel Dedicated to Bike/Pedestrian Uses 0.3571 Total Value of Willow Rd Tunnel Bike & Pedestrian Paths $35,467,818 Assumptions
Width of Bike and Pedestrian Paths (feet) 15
Width of Willow Road Tunnel (feet) 42
Portion (Quotient) of Tunnel Dedicated to Bike and Pedestrian Uses 0.3571 (Width of Paths / Width of Willow Road Tunnel)
Page F-1.75
17 Table 10: BAE Valuation of Willow Tunnel Bike and Pedestrian Paths Note:
(a) Construction costs are based on the March 2022 estimate prepared by Leland Saylor Associates (LSA). For more information, refer to the detailed estimates provided in Attachment 5.

Sources: Leland Saylor Associates; BAE, 2021.

Elevated Park Improvements
The applicant plans to provide an elevated park as part of the project and has proposed to provide the improvements for the elevated park as a community amenity. The applicant’s assessment of the value of the elevated park ($135,321,486) is based on the May 2021 cost estimate provided by the applicant in Attachment 1 (applicant’s Exhibit G). BAE’s valuation of the elevated park is based on LSA’s independent cost estimate prepared for the elevated park, which is provided in Attachment 6. Based on LSA’s estimate shown in the attachment, BAE’s valuation of the elevated park is $133,668,672, which is $1,652,814 less than the applicant’s valuation.

Although BAE is providing an assessment of the value of the elevated park improvements as part of this analysis, it is important to note that there is an expected level of uncertainty associated with any cost estimates for the elevated park at this point in time due to the low level of design and engineering detail currently available for this amenity. Because final design parameters for the elevated park have not yet been defined, LSA relied heavily on the concept-level information that was available in the September 2021 Architectural Control Package and the more detailed structural documents (dated May 2021) provided by the applicant to prepare the cost estimate for the elevated park.

Town Square Improvement Costs
The applicant plans to include a town square as part of the project and has proposed to provide the improvements for the town square as a community amenity. The applicant’s valuation of the town square ($17,623,908) is based on a May 2021 cost estimate provided by the applicant and shown in Attachment 1 (applicant’s Exhibit H). BAE’s valuation is based on an independent cost estimate prepared by LSA for this evaluation. Importantly, LSA’s BAE
Valuation
Total Hard Construction Costs (a) $62,302,573
Portion of Tunnel Dedicated to Bike/Pedestrian Uses 0.3571 Total Value of Willow Road Tunnel Bike & Pedestrian Paths $22,248,249 Assumptions
Total Willow Road Tunnel Hard Construction Costs $62,302,573 Phase 1 (East Tunnel) $22,945,047
Phase 2 (West Tunnel + North Ramp) $39,357,526
Width of Bike and Pedestrian Paths (feet) 15
Width of Willow Road Tunnel (feet) 42
Portion (Quotient) of Tunnel Dedicated to Bike and Pedestrian Uses 0.3571 (Width of Paths / Width of Willow Road Tunnel)
Page F-1.76
18 estimate was prepared to assess only the costs of the outdoor plaza and horizontal open spaces, excluding the costs to construct the pavilion buildings with retail space, the underground shared commercial parking garage, and the elevator access to the underground shared commercial parking garage. These specific components are excluded from BAE’s assessment of the value of the town square because they would primarily serve other private commercial uses on the site and are therefore not appropriate to include as a cost associated with providing the town square as a community amenity. Based on LSA’s cost estimate provided in Attachment 7, BAE’s valuation is equal to $15,517,431, which is $2,106,477 less than the valuation provided by the applicant.

Dog Park Improvements
The applicant plans to provide a dog park as part of the project and is proposing to provide the improvements for the dog park as a community amenity. The applicant’s valuation of the dog park improvements ($1,197,682) reflects the applicant’s estimated construction budget for the dog park. BAE’s methodology is consistent with the applicant’s methodology in that it is based on total estimated construction costs for the dog park improvements. However, BAE relied on an independent cost estimate prepared by LSA, which estimates the costs of the dog park improvements at $1,058,510. Based on LSA’s cost estimate provided in Attachment 8, BAE’s valuation is equal to $1,058,510, which is $139,172 less than the valuation provided by the applicant.

Teacher Housing Subsidies (Extension of Facebook Workforce Housing Pilot Program) As part of its Development Agreement for 301-309 Constitution Drive, Facebook committed up to $430,000 per year for five years ($2,150,000 total) to operate a Workforce Housing Pilot Program at 777 Hamilton Avenue to subsidize the rents for 22 units of workforce housing for community-serving professions such as teachers. The applicant is proposing to extend this pilot program for a period of 26 months, beginning in February 2022, as part of the applicant’s community amenities proposal. Attachment 1 provides an overview of the current program design, the methods used to calculate annual subsidy payments for the pilot program, and the applicant’s calculations for the costs of extending the subsidy program. The applicant’s valuation is based on the current contract rents for the 22 set-aside units and the applicant’s estimate of the average monthly tenant collections over the 26-month extension period. BAE’s initial valuation was based on equivalent market-rate rents for the same set-aside units and a revised estimate of average monthly tenant collections given current program participant household incomes. As detailed below, BAE’s revised valuation assesses the applicant’s actual costs of extending the program for a period of 26 months based on the applicant’s current contract rents for the 22 set-aside units and BAE’s estimate of average monthly tenant collections given the current average program participant household income.

Applicant’s Valuation of Proposal to Extend Workforce Housing Pilot Program. Under the existing pilot program, the rents paid by program participants are set at 30 percent of monthly household income with Facebook paying the difference between the participant rents and the Page F-1.77
19 contract rents. To calculate the value of Facebook’s subsidy payments, the applicant assumes contract rents equal to $4,132.72 per month for the one-bedroom apartments and $4,983.58 per month for the two-bedroom apartments. These contract rents were established through an agreement between Facebook and the original owner of 777 Hamilton Avenue. The applicant’s valuation assumes that the average participant household would contribute $1,136.36 per month in rent ($25,000 average collections from tenants ÷ 22 total units), with Meta providing an average monthly subsidy of $3,267.08 per unit per month for 26 months, resulting in an estimated total subsidy value of $1,868,772 ($3,267.08/mo. x 22 units x 26 mo.). The applicant’s valuation includes an additional $38,000 in management costs,2 which results in a total valuation of $1,906,772 (nominal dollars).

The applicant’s method for computing the total value of the subsidies provided over the extension period differs from the method that was used to calculate subsidy payments for the five-year pilot program. The applicant's estimated average monthly Facebook subsidy payment during the extension period ($3,267 per unit per month) equates to an annual Facebook subsidy payment of approximately $862,500, which is more than double the average annual subsidy amount paid by Facebook during the five-year pilot program period (up to $430,000 per year).

BAE’s Initial Valuation of Proposal to Extend Workforce Housing Pilot Program. As mentioned above, the applicant’s valuation assumes contract rents equal to $4,132.72 per month for the one-bedroom apartments and $4,983.58 per month for the two-bedroom apartments during the extension period. These contract rents were established through an agreement between Facebook and the original owner of 777 Hamilton and are not based on current market rents for comparable units in the same property that are not part of the set-aside. BAE reviewed active listings for one-bedroom and two-bedroom units within the 777 Hamilton property during the fourth quarter of 2021 and determined that the applicant’s proposed contract rents for the 26-month extension period were unusually high given recent asking rents for comparable units in the property. As of early December, asking rents were approximately $3,150 per month for a one-bedroom unit and $4,100 per month for a two-bedroom unit.

Because the applicant’s contractual arrangement to pay rents that currently exceed market rates do not represent an added benefit to the community relative to a scenario in which tenant participants rented comparable units at market value, BAE determined that it was not appropriate to include the higher contract rents in the determination of the community amenity value at the rates identified by the applicant. Instead, BAE’s initial valuation was based on the costs to subsidize market-rate rents for units occupied by qualifying tenants over the course of the proposed 26-month extension period.
2 Facebook selected Hello Housing, a nonprofit organization, to administer the five-year pilot program. According to the applicant, the program will be managed by a different private management entity during the 26-month extension period.

Page F-1.78
20 BAE’s initial valuation differed from the applicant’s valuation in one other important respect.

In accordance with the pilot program design and program guidelines, BAE revised the estimate of average monthly tenant collections for the extension period based on existing tenant participant household income information provided by the applicant. According to the applicant, all 22 set-aside units are currently occupied by qualifying program participants and the average annual participant household income is $56,745. The rents paid by program participants are set at 30 percent of monthly household income, so monthly tenant collections should be equal to approximately $31,210 based on the information provided by the applicant ($4,728.75 monthly household income x 0.3 x 22 units). It is not clear why the applicant’s estimate for monthly tenant collections is lower than the number calculated based on the program guidelines and current program participant household incomes.

BAE’s initial valuation shown in Table 11 was based on the market-rate rents quoted above ($3,150 per month for a one-bedroom unit and $4,100 per month for a two-bedroom unit) and BAE’s revised estimate of average monthly tenant collections ($31,210) given current program participant household incomes. As shown, the nominal value of the applicant’s total market rent subsidy payments during the extension period would be $1,163,247 based on these assumptions, assuming there were no vacancies or changes in participant household incomes during the 26-month extension period. Similar to the applicant’s valuation, BAE’s valuation included an additional $38,000 to cover management costs for the program, which results in a total valuation of $1,201,247 (nominal dollars). This is $705,526 less than the applicant’s valuation.

Table 11: BAE’s Initial Valuation of Proposal to Extend Teacher Housing Subsidy Pilot Program

Notes:
(a) BAE's initial valuation was based on market-rate rents for the set-aside units and estimated average monthly tenant collections given the current average participant household income provided by the applicant ($56,745). Market rate rents reflect the average asking rents for the same sized units at 777 Hamilton in December 2021. (b) Equal to the average monthly rent subsidy payment multiplied by 26 months.

Sources: Signature Development Group; CoStar; BAE, 2021.

BAE
Valuation (a)
Total Monthly Market Rents $75,950
Less: Avg. Monthly Tenant Collections $31,210
Average Monthly Rent Subsidy Payment $44,740
Total Rent Subsidy Payments (b) $1,163,247
Management Costs $38,000
Total Value of Rent Subsidy Extension $1,201,247
Key Assumptions
Assumed Average Rents per Unit
1 bedroom $3,150
2 bedroom $4,100
Assumed Avg. Participant Household Income $56,745
Page F-1.79
21 BAE’s Revised Valuation of Proposal to Extend Workforce Housing Pilot Program. As stated above, BAE’s revised valuation assesses the applicant’s actual costs of extending the program for a period of 26 months. BAE’s revised valuation assesses the applicant’s costs of extending the program for a period of 26 months based on the current contract rents paid by the applicant for the 22 set-aside units and BAE’s estimate of average monthly tenant collections given the current average program participant household income. Based on these assumptions, the nominal value of the applicant’s total market rent subsidy payments during the extension period would be $1,707,319 assuming no vacancies or changes in participant household incomes during the 26-month extension period. Similar to the applicant’s valuation, BAE’s valuation includes an additional $38,000 for management costs for the program, which results in a total valuation of $1,745,319 (nominal dollars), which is $161,453 less than the applicant’s valuation. These calculations are shown in Table 12. It should be noted that this valuation is based on the applicant’s contractual commitment to ensure that the property owner receives a rent for these units that currently exceeds market rates for comparable units in this property. In effect, the difference between BAE’s initial valuation of $1,201,247 and the revised valuation of $1,745,319 accrues to the owner of the 777 Hamilton property, who earns higher rents from the subsidized units compared to renting these units on the open market.

Table 12: BAE’s Revised Valuation of Proposal to Extend Teacher Housing Subsidy Pilot Program
Note:
(a) Under the existing pilot program, the rents paid by program participants are set at 30 percent of monthly household income. BAE's valuation is based on the average tenant participant household income reported by the applicant in December 2021 ($56,745).

Sources: Signature Development Group; BAE, 2022.

BAE
Applicant Valuation
Valuation (Revised)
Total Monthly Contract Rents Paid to Property Ow ner $96,876 $96,876 Less: Average Monthly Tenant Collections (a) $25,000 $31,210 Total Monthly Rent Subsidy Payment $71,876 $65,666
Monthly Rent Subsidy Payment x 26 Months $1,868,772 $1,707,319 Management Costs $38,000 $38,000
Total Nominal Value of Pilot Program Extension $1,906,772 $1,745,319 Key Assumptions
Set-Aside Units
1 bedroom (# units / contract rent per unit) 15 $4,133
2 bedroom (# units / contract rent per unit) 7 $4,984
Applicant BAE
Assumed Average Annual Tenant Household Income $45,455 $56,745 Max. Monthly Rent Contribution per Tenant Participant (a) $1,136 $1,419 Page F-1.80
22 Publicly Accessible Open Space Acreage in Excess of Obligation The proposed plan for the project includes publicly accessible open space that would exceed the amount of publicly accessible open space required based on the zoning standards for the site. The applicant’s valuation of the community amenities proposal includes a valuation of the publicly accessible open space acreage that exceeds the requirement, based on an estimated land value per acre and the amount of excess acreage. BAE generally used the same methodology as the applicant to assign a value to the excess open space. However, BAE’s valuation is based on the minimum publicly available open space amount proposed by the applicant in the current plan proposed for the Conditional Development Permit (CDP) for the project, while the applicant’s valuation is based on the amount of open space currently proposed for the project. The current plan proposed for the CDP identifies the minimum amount of open space that the applicant is definitively committing to provide as part of the development agreement for the site and is therefore the most appropriate source for determining the acreage of publicly accessible open space provided in the project at this time.

Applicant’s Valuation of Publicly Accessible Open Space Acreage in Excess of Obligation. The applicant’s valuation of the publicly accessible open space acreage in excess of the open space obligation is based on the applicant’s current proposal for open space acreage on the project site, which was most recently updated in February 2022 to align with the current plan proposed for the CDP for the project. As shown in Table 13, the total publicly accessible open space acreage currently being contemplated on the project site exceeds the open space obligation for the site by 2.29 acres. The applicant has valued this acreage based on the revised draft appraisal for the project site, which showed a land value of $10,507,820 per acre at the bonus level development. This analysis results in a total value of $24,115,309 for the excess publicly accessible open space acreage.

Table 13: Applicant Valuation of Publicly Accessible Open Space Acreage in Excess of Obligation
Sources: Fabbro, Moore, & Associates, Inc. Community Amenities Appraisal Report Review for Proposed Willow Village Development, September 17, 2021; Signature Development Group; BAE, 2022.

Revised
Applicant
Valuation
Proposed Excess Publicly Accessible Open Space Acreage 2.29 Value of Proposed Excess Open Space Acreage $24,115,309 Assumptions
Proposed (February 2022) Publicly Accessible Open Space (sf) 385,027 Minimum Publicly Accessible Open Space per Zoning (sf) 285,057 Difference / Excess Publicly Accessible Open Space (sf) 99,970 Willow Village Project Site (acres) 59.36
Appraisal Value (Bonus Development)
Appraisal Value per Acre $10,507,820
$623,700,000
Page F-1.81
23 BAE’s Valuation of Publicly Accessible Open Space Acreage in Excess of Obligation. BAE has valued the excess publicly available open space based on the minimum amount that would be required based on the current plan for the proposed CDP for the project, which is less than the acreage shown in the applicant’s valuation. According to the current proposed plan set for the project, the CDP would include at least 360,000 square feet of publicly accessible open space, compared to 285,057 that would be required by zoning. This represents 74,943 square feet, or 1.72 acres, of publicly accessible open space in excess of the zoning requirements. BAE used this figure to calculate the value of open space in excess of the requirement because this represents the amount that the applicant would be committing to provide under the proposed plan for the CDP, with any additional proposed open space acreage subject to change. BAE has valued this acreage based on the revised draft appraisal for the project site, which showed a land value of $10,507,820 per acre at the bonus level development, which is the same methodology that the applicant used to estimate a per-acre value for the excess open space.

This results in a total value of $18,078,137 for the publicly accessible open space that the applicant would commit to providing in excess of the requirement, as shown in Table 14.

Table 14: BAE Valuation of Publicly Accessible Open Space Acreage in Excess of Obligation
Sources: Fabbro, Moore, & Associates, Inc. Community Amenities Appraisal Report Review for Proposed Willow Village Development, September 17, 2021; BAE, 2021.

Publicly Accessible Open Space Operations and Maintenance The applicant’s valuation of the community amenities proposal includes the cost of maintenance and reserves for the proposed community park, dog park, elevated park, and town square over a thirty-year period. The applicant’s total valuation reflects the sum of the total budgeted annual costs of maintenance and reserves for these four parks over a thirtyyear period, discounted to present value using a six percent discount rate. BAE’s valuation includes the costs of maintenance and reserves for the town square, dog park, and elevated park only, since the applicant has not yet proposed a design concept for the community park and there is no design information available for this open space. Although BAE’s valuation in this analysis excludes the costs of operations and maintenance for the community park, it may be appropriate to include these costs in the valuation of this community amenity in the future BAE
Valuation
Excess Publicly Accessible Open Space Acreage 1.72
Value of Excess Open Space Acreage $18,078,137
Assumptions
Minimum Publicly Accessible Open Space - CDP Standards (sf) 360,000 Minimum Publicly Accessible Open Space per Zoning (sf) 285,057 Difference / Excess Publicly Accessible Open Space (sf) 74,943 Willow Village Project Site (acres) 59.36
Appraisal Value (Bonus Development)
Appraisal Value per Acre $10,507,820
$623,700,000
Page F-1.82
24 once a design concept or a preliminary design for the community park has been established.

Overall, BAE’s approach to valuing operations and maintenance costs for the town square, the dog park and the elevated park is similar to the applicant’s overall approach, with some exceptions. These exceptions are described in further detail below.

Applicant’s Valuation of Publicly Accessible Open Space Operations and Maintenance. The applicant provided an estimate of annual operations and maintenance costs for the proposed community park, dog park, elevated park, and town square to support an estimated valuation of approximately $7.1 million for operations and maintenance of publicly accessible open space. The applicant provided separate operating budgets with maintenance and reserve elements for each of the four open space areas, which are provided in Attachment 1 (applicant’s Exhibit I). The applicant’s total valuation reflects the sum of the total budgeted annual costs of maintenance and reserves for these four areas over a thirty-year period, discounted to present value using a six percent discount rate. The applicant assumed no escalation in operations and maintenance costs over the thirty-year period.

BAE Valuation of Publicly Accessible Open Space Operations and Maintenance. As mentioned above, BAE’s valuation of the cost for operations and maintenance of publicly accessible open space includes only the costs of maintenance and reserves for the town square, the elevated park, and the dog park. BAE made adjustments to three line items in the annual operating budgets provided by the applicant. First, BAE removed the cost shown for the landscape line item in the reserve budget for the dog park, since the dog park is expected to include synthetic turf and gravel surfacing instead of landscaped area. Second, BAE increased the remaining life for the irrigation controllers line item in the reserve budget for the elevated park to 12 years based on industry standards for this item. BAE made the same change to the irrigation controllers line item in the reserve budget for the town square. This change decreased the annual reserve cost for the irrigation controllers line item from $4,000 to $333. As shown in Table 15 below, these three adjustments resulted in total annual maintenance and reserve costs equal to $289,913 for the town square, the elevated park, and the dog park. To value the annual costs of operations and maintenance over the full thirty-year period, BAE applied a standard 3.0 percent annual cost escalation assumption to the total maintenance and reserve costs for the three open spaces and then discounted the annual costs to present value using a

7.5 percent discount rate, consistent with the approach used for other community amenity proposal evaluations. As shown, BAE’s valuation of the operations and maintenance costs for the town square, dog park, and elevated park is equal to $4,656,361, which is $2,477,332 less than the applicant’s valuation for all four open spaces combined.

It should be noted that BAE’s valuation is heavily dependent on information provided in the applicant’s annual budgets for the town square, elevated park, and the dog park. The annual budgets should be viewed as current estimates based on the stated design concepts for each space; these stated design concepts are subject to change. In addition, there is insufficient design information currently available to adequately assess and confirm some of the Page F-1.83
25 applicant’s quantity estimates in the annual budgets provided for the town square, the elevated park, and the dog park. In particular, the annual reserve cost estimates for tubular steel fencing, railing, synthetic turf, and local decomposed granite (shown as the “Tunnel Access Boulders” line item in the dog park reserve budget) are all based on rough quantity estimates and are thus likely to change. Notably, the annual costs for the tubular steel fence and railing line items make up roughly 44 percent of the total annual reserve costs estimated for the elevated park, meaning that there may be significant uncertainty associated with the budgeted annual reserves for the elevated park shown below. Similarly, the annual costs for the synthetic turf and local decomposed granite line items in the budget for the dog park make up 48 percent of the total estimated annual reserve costs for the dog park space. BAE recommends that the City request that the applicant provide updated operations and maintenance budgets once the designs for the three spaces are finalized. Should the annual maintenance and reserve costs differ from the applicant’s current estimates, the City could adjust the amenity value as appropriate.

Table 15: BAE Valuation of Publicly Accessible Open Space Operations and Maintenance

Sources: Signature Development Group; BAE, 2021.

Funding for Job Training Programs
The applicant’s proposal includes financial contributions to two non-profit organizations, Year Up and Job Train, to support local job training programs. The applicant’s financial contribution to Year Up includes $1,500,000 for partnership fees and $4,189,817 for host fees to support 86 externs over a three-year period. The applicant’s proposal also states that the applicant will fully subsidize all rental costs and operating expenses for the existing Community Hub for a period of three years. In addition, the applicant is proposing a direct financial contribution to Job Train totaling $1,196,000. Although the applicant’s proposal does not specify how the BAE
Town Square, Dog Park, and Elevated Park Valuation
Total Annual Maintenance Costs in Year 1 $195,309
Total Annual Reserve Costs in Year 1 $94,604
Total Annual Maintenance and Reserve Costs in Year 1 $289,913 NPV of Total Maintenance and Reserve Costs (30 years) $4,656,361 Tow n Square Dog Park Elevated Park
Year 1 Annual Maintenance Budget $29,973 $19,627 $145,709 Year 1 Annual Reserves Budget $32,018 $10,355 $52,231
Year 1 Total Maint. and Reserves $61,991 $29,982 $197,940 NPV of Total (30 years) $995,652 $481,548 $3,179,161
Assumptions
Assumed Cost Escalation Rate 3.0%
Assumed Discount Factor 7.5%
Page F-1.84
26 financial contribution to Job Train would be used, the proposal states that it would cover activities such as trades training, the annual breakfast of champions fundraiser, new building construction, training program expansion and development, and career centers in Menlo Park and East Palo Alto over a two-year period. Based on information provided by the applicant, the applicant’s valuation of the proposed financial contribution to Job Train is considered an estimate based on historical information and is subject to change. BAE’s valuation of the applicant’s proposal is similar to the applicant’s valuation, with some minor adjustments, including calculating the present value of the rental subsidy and operating expenses for the existing Community Hub.

Applicant’s Valuation of Proposal for Job Training Programs. The applicant’s assessment of the value of the proposal for job training programs is shown in Table 16 below. The applicant’s valuation totals $8,366,005 and includes the proposed direct financial contributions to Year Up for partnership fees and host fees, the proposed direct financial contribution to Job Train, and the applicant’s assessment of the value of providing the commercial space for the Community Hub for a three-year period. To value the cost of providing the commercial space for the Community Hub, the applicant has provided an estimate of the total annual operating expenses for the Community Hub ($493,396), which includes a proposed annual rent credit for the commercial space. The applicant’s valuation of these expenses over the proposed funding period is equal to the assumed annual operating expenses for the Community Hub multiplied by three years. The applicant’s proposed annual rent credit for the Community Hub ($286,870) reflects a portion of the applicant’s total costs of leasing the space from a third-party entity. According to the applicant, a NNN lease is in place between Meta and a third-party entity for an annual rental amount of $478,116. Of the $478,116, the applicant attributes 60 percent of the Community Hub’s estimated use to Menlo Park residents, which results in the value of the annual rent credit of $286,870.

Page F-1.85
27 Table 16: Applicant’s Valuation of Proposal for Job Training Programs BAE’s Valuation of Proposal for Job Training Programs. BAE’s valuation of the applicant’s proposal for job training programs is similar to the applicant’s valuation, with one exception.

BAE calculated the present value of the Community Hub’s operating expenses and the applicant’s proposed rent credit, as shown in Table 17. BAE also applied a standard 3.0 percent escalation rate to the operating expenses and the proposed rent credit for the second and third years covered by the proposal. As shown in the table, this analysis results in a valuation of $1,419,090 for the Community Hub operating expenses and rent credit line item over the proposed three-year period, which is $61,098 less than the estimate for the same line item provided by the applicant ($1,480,188).

Applicant
Valuation
(Revised) Years
Year Up On-Site Training $7,170,005 2022-2024
Partnership Fees (a) $1,500,000 (3 years)
Host Fees for 86 Externs (b) $4,189,817
Hub Operating Expenses (c) $1,480,188
Job Train (d) $1,196,000 2022-2023
(2 years)
Total Job Training Costs $8,366,005
Notes:
(a) Partnership fee paid to Year Up.
(b) Provides stipends, financial support for transportation, and legal support for participants.

Professional services $74,200
Cleaning expenses $53,038
Utilities $15,895
Repairs and maintenance $25,993
Building services and supplies $37,400
Rent credit $286,870
Subtotal, Annual Hub Operating Expenses $493,396
Sources: Signature Development Group; BAE, 2022.
(d) Although the applicant’s proposal does not specify exactly how the financial contribution to Job Train would be used, the proposal states that it could potentially cover activities such as trades training, the annual breakfast of champions fundraiser, new building construction, training program expansion and development, and career centers in Menlo Park and East Palo Alto.
(c) Annual Community Hub operating expenses for a period of three years. Annual Hub operating expenses include the following:

Page F-1.86
28 Table 17: BAE Valuation of Proposed Community Hub Rent Credit and Operating Expenses
Source: BAE, 2022.

BAE did not provide an assessment of the value of the applicant’s total direct financial contributions to the two organizations since the value is equal to the total dollar amount provided to the two organizations (see Table 18). However, BAE recommends that the City request additional information on the intended uses of the funds provided to each organization to determine if these uses are consistent with the goals of the community amenities program, particularly to ensure that funds will be spent on new or expanded local programs. In addition, BAE recommends that the City request verification of the project applicant’s actual contributions to each organization. Should the actual costs covered by the applicant differ from the applicant’s estimates, the City could adjust the direct financial contribution associated with each contribution as appropriate.

Year 0 1 2
Proposed Community Hub Rent Credit $286,870 $295,476 $304,340 Other Hub Operating Expenses $206,526 $212,722 $219,103 Total Community Hub Operating Expenses $493,396 $508,197 $523,443 Present Value $493,396 $472,742 $452,953
NPV of Cash Flows
Assumptions
Year 0 Annual Rent (NNN) ($/year) $478,116
Menlo Park Resident Use (%) 60%
Proposed Community Hub Rent Credit (Year 0) $286,870
Other Hub Operating Expenses (Year 0) $206,526
Annual Growth Rate 3.0%
Assumed Discount Factor 7.5%
$1,419,090
Page F-1.87
29 Table 18: BAE Valuation of Applicant’s Proposal for Job Training Programs Community Mobile Market
Since 2017, Facebook has sponsored a weekly community mobile market in the communities of Belle Haven and East Palo Alto. The weekly mobile market program sells organic produce and other fresh food products at a discounted rate to local residents. The program is a partnership between Facebook and Good Roots Farmers Markets and Events, which acts as the market vendor. The applicant is proposing to continue funding the Community Mobile Market program for a period of two years starting in 2022 as part of the applicant’s community amenities proposal for the Willow Village project.

Applicant’s Valuation of Proposal for Community Mobile Market. The applicant’s valuation represents the total estimated program costs for the mobile market during the two-year funding period, plus an additional $100,000 for contingency. The applicant estimates the total annual program costs for the mobile market at $2,149,785, which includes Facebook’s estimated annual wholesale costs for food and products ($1,248,445), the vendor’s annual labor and program management costs ($634,540), and the vendor’s annual costs for equipment, supplies, and rent ($266,800). The applicant’s valuation includes the value of annual program costs for the mobile market for two years ($2,149,785 x 2 years), plus an additional $100,000 for contingency. Based on this estimate ($4,399,570), the applicant assesses the value of the community mobile market at $4.4 million (rounded). These calculations are shown in Table 19 below.

BAE
Valuation
Year Up On-Site Training $7,108,907
Partnership Fees (a) $1,500,000
Host Fees for 86 Externs (b) $4,189,817
Community Hub Operating Expenses (c) $1,419,090
Job Train (d) $1,196,000
Total Job Training Costs $8,304,907
Notes:
(a) Lump sum financial contribution to Year Up for partnership fees.

Sources: Signature Development Group; BAE, 2022.
(b) Lump sum financial contribution to Year Up for stipends, financial support for transportation, and legal support for participants. (c) Present value of the applicant's proposed rent credit and operating expenses for the Community Hub (3 years).
(d) Lump sum financial contribution to Job Train. According to the applicant's proposal, the proposed financial contribution to Job Train is considered an estimate is subject to change.

Page F-1.88
30 Table 19: Applicant Valuation of Community Mobile Market Notes:
(a) According to information provided by the applicant, Good Roots rents a warehouse and purchases and rents equipment and supplies for the mobile market and then charges Facebook for their use. (b) Includes insurance and maintenance.
(c) Generators, forklifts, fridge, and warehouse equipment costs. (d) Office supplies, farm boxes, cleaning supplies, and miscellaneous warehouse supplies.

Sources: Signature Development Group; BAE, 2021.

BAE’s Valuation of Proposal for Community Mobile Market. BAE’s valuation includes the estimated (unrounded) annual program costs for the community mobile market for the twoyear funding period, as shown in Table 20 below. BAE did not include an amount for contingency in the assessment of the value of the community mobile market because it is not clear how the contingency amount would be used. The applicant has indicated that on average, approximately 10 percent of the mobile market’s weekly inventory goes unsold and that these unsold products are regularly donated to local nonprofits. The applicant has also indicated that all of the annual customer sales from the mobile market are “rolled into a credit” for a Farm Box Donation program. The credits are then applied to the wholesale cost of farm boxes. According to the applicant, the Farm Box Donation program is separate from the Community Mobile Market program but is managed by the same vendor and services many organizations located in Menlo Park. It is not clear whether the funds generated from mobile market customer sales are also used to purchase mobile market food products such as the Description Rate per Unit Quantity # Weeks Annual
Product
Meal Deal Bags $29 400 42 $493,500
Farm Boxes $24 375 42 $376,945
Ala Carte Products $90 100 42 $378,000
Subtotal $1,248,445
Management & Local Labor
Local labor $10,982.40 52 $571,084.80
Program management $1,220.30 52 $63,455.60
Subtotal $12,203 $634,540
Equipment, Rent, Supplies (a)
Vehicle Costs (b) $35,800 4.0 $143,200
Equipment (c) $9,105 4.0 $36,420
Supplies (d) $1,703 4.0 $6,812
Warehouse Rental $20,092 4.0 $80,368
Subtotal $66,700 16.0 $266,800
Total Annual Costs $2,149,785
Applicant Valuation
Total Annual Mobile Market Costs x 2 Years $4,299,570
Contingency $100,000
Total Mobile Market Program Costs (2 Years) $4,399,570
Rounded Value $4,400,000
Page F-1.89
31 Farm Boxes listed in Table 20 below. However, to the extent that funds from mobile market customer sales are used to pay for wholesale food and products for the mobile market, these offsetting amounts should be reflected in the value of the applicant’s net contribution for the community mobile market over the two-year funding period. For context, the applicant’s estimate of total annual mobile market customer sales is $521,640, which is equal to roughly 42 percent of Facebook’s total estimated annual wholesale food costs ($1,248,445) for the community mobile market program. BAE recommends that the City request more information from the applicant regarding the specific purpose and use of the funds generated from mobile market customer sales. Depending on whether any of these funds are used to offset annual mobile market program costs, the City could then adjust the amenity value as appropriate, if desired.

Table 20: BAE Valuation of Community Mobile Market
Notes:
(a) According to information provided by the applicant, Good Roots rents a warehouse and purchases and rents equipment and supplies for the mobile market and then charges Facebook for their use. (b) Includes insurance and maintenance.
(c) Generators, forklifts, fridge, and warehouse equipment costs. (d) Office supplies, farm boxes, cleaning supplies, and miscellaneous warehouse supplies.

Sources: Signature Development Group; BAE, 2021.

Description Rate per Unit Quantity # Weeks Annual
Product
Meal Deal Bags $29.38 400 42 $493,500.00
Farm Boxes $23.93 375 42 $376,945.00
Ala Carte Products $90.00 100 42 $378,000.00
Subtotal $1,248,445.00
Management & Local Labor
Local labor $10,982.40 52 $571,084.80
Program management $1,220.30 52 $63,455.60
Subtotal $12,202.70 $634,540.40
Equipment, Rent, Supplies (a)
Vehicle Costs (b) $35,800.00 4.0 $143,200.00
Equipment (c) $9,105.00 4.0 $36,420.00
Supplies (d) $1,703.00 4.0 $6,812.00
Warehouse Rental $20,092.00 4.0 $80,368.00
Subtotal $66,700.00 16.0 $266,800.00
Total Annual Costs $2,149,785.40
BAE Valuation
Total Annual Mobile Market Costs x 2 Years $4,299,570.80 Page F-1.90
32 ATTACHMENTS
Page F-1.91
33 ATTACHMENT #1:

ORIGINAL WILLOW VILLAGE COMMUNITY AMENITIES

PROPOSAL EXHIBITS
Page F-1.92
Amenity Value1 Notes and Descriptions
A full‐service grocery store providing a range of goods, including fresh fruits, vegetables and meat and dairy products $35,609,557 See: EXHIBIT A ‐ Retail Value & EXHIBIT B ‐ Grocery Parking Improvement Costs Grocery Subsidy $2,014,800 See: EXHIBIT C ‐ Grocer Rent Value A pharmacy that fills prescriptions and offers convenience goods $7,200,000 See: EXHIBIT A ‐ Retail Value A bank or credit union branch with an ATM $1,800,000 See: EXHIBIT A ‐ Retail ValueA range of dining options, from cafes to sit‐down restaurants, serving residents and local employees $10,800,000 See: EXHIBIT A ‐ Retail Value Install new bike lanes and pedestrian paths and connect them to existing facilities and Bay Trail (Main Street bike lane & Willow tunnel bike/ped path)
$35,755,852 See: EXHIBIT D ‐ Willow Road Tunnel
Provide residents with job training programs that prepare them with jobs skills $7,245,817 Funding for career pathway training and development programs in partnership with local non‐profits Year Up and Job Train, to prepare local residents with jobs skills and fund internships for Belle Haven/Menlo Park residents for the next five years.

High Quality Affordable Housing in Belle Haven (Subsidies for teacher housing) $1,906,772 Commitment to subsidize rent for 22 teachers currently living at 777 Hamilton Apartments in Belle Haven, from 2022‐2024, when the current subsidy program expires and prior to Facebook’s completion of new affordable housing where teachers could then reside.

Provide a dedicated enclosed place where dogs can run (improvement costs) $1,197,682 See: EXHIBIT E ‐ Dog Park Improvement Costs Land for Dog Park $3,147,752 See EXHIBIT F ‐ Excess Open Space Land Value CalculationsPlant trees along streets and parks in Belle Haven to increase tree canopy $150,000 Funding the design and planting of new trees in the Belle Haven neighborhood in partnership with Canopy, a local non‐ profit, to increase the tree canopy in the neighborhood. The planting of these trees is above and beyond city treesmitigation requirements for the project.

Community Entertainment Offerings (ie Cinema, Live Theatre, Bowling, etc...) $15,000,000 See: EXHIBIT A ‐ Retail Value Publicly Accessible Open Space Acreage in Excess of Obligation (greater than what is required under ordinance and excluding dog park) $27,805,146 See EXHIBIT F ‐ Excess Open Space Land Value CalculationsElevated Park Improvement Costs $135,321,486 See EXHIBIT G ‐ Elevated Park Improvement Costs Town Square Improvement Costs $17,623,908 See EXHIBIT H ‐ Town Square Improvement Costs Publicly Accessible Open Space Operations & Maintenance Costs $7,133,693 See EXHIBIT I ‐ This value reflects the sum of the annual cost over 30 years discounted to present value at a 6% rate Safe Routes to Schools Funding $300,000 Funding for a variety of Safe Routes to Schools projects including bike lane striping and crosswalk improvements.

Food Subsidies ‐ Mobile Market $4,400,000 Funding the Community Mobile Market program to support food stability efforts in the community. The program will provide fresh, quality produce at a subsidized cost to local residents for two years.

Total $314,412,465
Footnote1. Improvements and Services are valued at cost, as conventional market values are not readily available. These include improvements such as: park improvements, bike lanes/pedestrian pathways, etc. and services such as: job training, food subsidies and maintenance.

Willow Village Community Amenities Valuation Data
Page F-1.93

EXHIBIT A
Retail Value

Page F-1.94

M EMORANDUM
To: Paul Nieto and Eric Harrison, Signature Development Group From: Economic & Planning Systems, Inc.

Subject: Willow Village Retail Valuation Supplementary Research Date: May 26, 2021
Peninsula Innovation Partners, LLC (Project Sponsor) has retained Economic & Planning Systems, Inc. (EPS) to prepare a fiscal impact analysis of the Willow Village project in Menlo Park. The 59-acre site is currently occupied by the Menlo Science and Technology Park, and the Project Sponsor proposes to redevelop the site into a multi-phased 3.7- million-square-foot mixed-use project, including office, retail, hotel, and multifamily residential uses.

At the Project Sponsor’s request, EPS has conducted supplementary retail market research to help establish a valuation for the project’s retail program that is rooted in local market conditions. An interim step fiscal impact study, EPS prepared this memorandum to report out a preliminary assessment of local retail real estate market value trends.

The analysis presented here is not an appraisal and does not analyze transactions or net operating income at comparable retail properties.

EPS relies on aggregated market data from CoStar Group to establish a reasonable preliminary market valuation for Willow Village retail space.

The proposed Willow Village development program includes approximately 1.6 million square feet of office space, 193 hotel rooms, and 1,729 housing units, in addition to its 200,000 square foot retail program. The current retail tenanting strategy includes a grocery store anchor, a pharmacy, restaurants, and a mix of other retail offerings. The retail uses would be delivered with ample and convenient parking, much of which would be provided in structured parking facilities.

To establish a reasonable valuation for the retail uses at Willow Village, EPS collected retail market data and statistics for leased and owneroccupied retail buildings and centers proximate to the Willow Village project site. These data indicate significant variation in the retail uses nearby (e.g., store format, access, size, building age), though no recently-built projects of comparable scale were identified.

Page F-1.95
Memorandum May 26, 2021
Willow Village Retail Valuation Supplementary Research Page 2 Z:\Shared\Projects\Oakland\201000s\201097_WillowVillage\Deliverables\201097 Retail Value Memo 5.26.21.docx The available retail market statistics from CoStar Group reveal that the average market value for retail real estate within five miles of the Willow Village site is in the range of $600 per gross square foot. The data from CoStar reflect actual market transactions that occurred within the five-mile radius since 2011, as well as broader market data to interpolate market trends within the local study area. The data trend analysis reveals pricing that ranges from roughly $200 to $1,400 per square foot and distinguishes between “urban” and “suburban” retail locations.

Despite the wide range in values observed and estimated, the valuation estimates for retail within the five-mile radius average about $600 per square foot in 2021. Figure 1 presents retail real estate sale price trends for the study area.

Figure 1 Sale Price Per Square Foot by Location Type
Source: CoStar Group and Economic & Planning Systems
Retail value determined through consideration of aggregated local market data and regional market trends provides a reasonable basis for establishing a preliminary valuation for retail at Willow Village. Since the Willow Village retail will be newly build and modern, and assuming the retail elements of the project are highly visible and readily accessible, with a well-curated mix of stores and restaurants, this initial valuation likely is conservative (i.e., below actual market potential). Asking prices for retail in the five-mile radius over the past year have averaged over $700 per square foot. Furthermore, in prime retail locations nearby, such as downtown Palo Alto, high-quality and well-located retail space commonly transacts at sales prices that exceed $1,000 per square foot.

Page F-1.96

EXHIBIT B
Grocer Parking Improvement Costs

Page F-1.97

WILLOW VILLAGE SCHEMATIC DESIGN
DATED: 04.23.2021
UNIFORMAT LEVEL 2 - BUDGET DETAIL *52&(5< PARKING$73 Foundations 2,501,156 
Superstructure 4,148,808 
Exterior Vertical Enclosure 871,488 
Interior Construction 436,056
Interior Finishes 194,823
Conveying 89,572
Plumbing 190,938
HVAC 426,748
Fire Protection 452,366
Electrical 1,360,368
Equipment 226,416
Site Improvements 585,619
General Requirements 867,910
Subtotal 12,352,268
General Conditions 534,783
SCCI Construction Contingency (2.00%) 246,882 SCCI Subcontractor Default Insurance (1.25%) 154,302 SCCI DIC Insurance (0.90%) 111,097
SCCI City of Menlo Park Business Tax 1,621
SCCI Fee (2.75%) 308,603
Total 13,709,557 
Page F-1.98

EXHIBIT C
Grocer Rent Value

Page F-1.99
767 Bridgeway, Suite 3C
Sausalito, CA 94965
415.292.7200
www.RetailWestInc.com
Matthew Holmes
Retail West, Inc.
767 Bridgeway, Suite 3C
Sausalito, CA 94965
June 22, 2021
Paul Nieto
Signature Development Group
2335 Broadway, Suite 200
Oakland, CA 94612
Willow Village Project
Paul,
In response to community demands and a growing residential population in the Bayfront Expressway area, we have targeted a grocery store as a critical component to the retail component at the proposed Willow Village project. In order to induce a grocer to the Willow Village project in the first phase (prior to all construction being completed and all residents having moved-in) the rent subsidies will be needed in an amount that approximates 60 PRQWKVRIUHQWLQRUGHUIRUWKHVWRUH·VRSHUDWLRQVWRVWDELOL]H:HDUHH[SHFWLQJDVWRUHRI WKHVL]HSURSRVHGIRU:LOORZ9LOODJHZRXOGKDYHDVWDUWLQJUHQWWKDWFDSVRXWDWDPRQWKO\ rent rate in the range of $2.25 - $2.50 per square foot triple net.

Given the importance of fresh local foods to the immediate community and the strong draw a grocer provides to a project with daily needs shoppers, we are viewing this as a critical first step to creating a dynamic project.

Page F-1.100

EXHIBIT D
Willow Road Tunnel

Page F-1.101






 




  





 








 






 

 




















 




6-&"16
1-""2
6
1#6 '++.6

)6 .* $/ +66

6
50,!+(6
 
6 36 6 6 6 6
6
6 6 46 6  % 6 
 


 



   



    
 









Y

Y

Y

Y 

Y


 



01'3.#Y



!.#1397WY


 
 


3"Y5!4Y
67350Y"5)1=Y ,

 

 850Y
 +- +-#Y








  


UYY!9/:#576Y




  

137#
Y
6QKKJLOYJCYBU@>S>NFJIYFMYIJOYMEJTIY
6Q?MRLC>@BY@JIAFPFJIMY?>MBAYJIY
#IDBJY?JLGIDY

Y
 #$
-$"'$
&%- 
-
%- 
-







%- &*- 


$
- & %-
-
 %- - %'$- 

-

 ($- - !$ &- 
-
& &
-'&-)

)-&'
-

61)7Y5VY6#;#5Y#.#!85)!.Y
;7#5 Y%6 Y!300Y$* #5Y347)!Y

 

 $+..Y
XY01'3.#!/#2397Y
 %5391";7#5YHY .#Y
4#"6Y






!.<6+.7Y
;)8(Y61"Y
 
&5:#/Y
;)8(Y




-



  -



 -


-


 -





 - 

-



-


-




 -








- !$&-%-- !%&$
-'%- 
 





 ,



 
 









 




 


 
 





















6 6



WILLOW ROAD TUNNEL
Page F-1.102

EXHIBIT E
Dog Park Improvement Costs

Page F-1.103





yªˆÔ ´i¸—ÔєʑÔ
r”ž‰Ô ')(5CÔjsÔ
’k¹zÔt«ÂÊÔ /+!]b,Ô Ã†Ô ÒÔ
Š‚ŸÀ™Ôº·Í”»ƒœ ÊÄÔ EÔ
{Å”‹¡Ô WÔ
|Æ”Œ¢Ô u¬£Ê•¤¥vÓÔ 0F
Ô
Ž„¦ÁšÔw­§}”Ê”®¨ÇÔ N
Ô
p¯£~ÈÔ Ô ”£Éοo©xÔ 7

Ô
°Ð¼“l|ÔÔ µ½±‡–ËÔ"O
Ô
ʲÌm›Ô ”œ¶¾ªÐœÊÔqϏÊÔ
€³Ô ¶n¾˜Ô

V[Ô Ô \=a >6*Ô
DÔ Ô ?8#@X1Ô


 Gc$AHdÔ
2I
Ô  /9Y$B/<Ô
P
Ô  J-$eQKÔ
:Ô  /R$f^_Ô
SÔ  L. gTMÔ

3%4hZ#U`;

























 


























  





































 


 
 


 

 


 

 





 

 

 

 





 







 





$

!"#


&

%
 &




 








 
 




 
 




















 


 

 




 




Page F-1.104

EXHIBIT F
Excess Open Space Land Value Calculations

Page F-1.105
Willow Village – Open Space Land Value Calculations May 14, 2021 Land
Use
Required Publicly
Accessible
Proposed Publicly
Accessible
Publicly Accessible Open Space
Breakdown
R-MU 47,117.85 sf (1.08 ac) 177,778 sf (4.08 ac) x Park (entire parcel including parking, frontage, pump station)
= 154,883 sf (3.56 ac)
x Dog Park = 13,235 sf (0.30 ac)
x P3 retail = 9,660 sf (0.22 ac)
x Town Square = 60,719 sf (1.39 ac)
x Multi-use path = 84,623 sf (1.94
ac)
x Elevated Park (include segment
over Willow, outside property)
= 90,675 sf (2.08 ac)
O 237,984.39 sf (5.46 ac) Include Elevated Park
within Willow property
= 228,700 sf (5.25 ac)
Total 285,102.24 sf (6.54 ac) Include Elevated Park
within Willow property
= 406,478 sf (9.33 ac)
Publicly Accessible Open Space SF Acres Required Open Space - SF Acres Community Park 154,883 3.56 285,102 6.55
Town Square 60,719 1.39
Multi-Use Path 84,623 1.94
Sub-total 300,225 6.9

Elevated Park 90,675 2.08
Dog Park 13,235 0.30
P3 Retail 9,660 0.22
Subtotal 113,570 2.61
Open Space in Excess of Required
Grand Total 413,795.00 9.50 128,692.76 2.95
Willow Village size 59.4 ac

Appraisal Value $623,255,000
Bonus Development
Value per Acre $10,492,508
Page F-1.106

EXHIBIT G
Elevated Park Improvement Costs

Page F-1.107
Project # 20-00685.00
:LOORZ9LOODJH Project
Menlo Park, CA
Schematic Design - Rev 1 05/06/21
Element Subtotal Total Cost / SF Cost / SF
A) Shell (1-5) $83,191,477 $899.81
1 Foundations $20,798,684 $224.96
2 Vertical Structure
3 Floor & Roof Structures $38,208,347 $413.27
4 Exterior Cladding $21,965,550 $237.58
5 Roofing and Waterproofing $2,218,896 $24.00
B) Interiors (6-7)
6 Interior Partitions, Doors and Glazing
7 Floor, Wall and Ceiling Finishes
C) Equipment and Vertical Transportation (8-9) $5,750,000 $62.19 8 Function Equipment and Specialties
9 Stairs and Vertical Transportation $5,750,000 $62.19
D) Mechanical and Electrical (10-13) $6,097,716 $65.95
10 Plumbing Systems $1,109,448 $12.00
11 Heating, Ventilation and Air Conditioning
12 Electrical Lighting, Power and Communications $4,063,728 $43.95 13 Fire Protection Systems $924,540 $10.00
E) Site Construction (14-16) $15,317,505 $165.68
14 Site Preparation and Demolition
15 Site Paving, Structures & Landscaping $15,317,505 $165.68 16 Utilities on Site
$110,356,698 $1,193.64

4.96% $5,473,692 $59.20
$115,830,390 $1,252.84

3.27% $3,787,654 $40.97
$119,618,044 $1,293.81

0.30% $358,854 $3.88
$119,976,898 $1,297.69

0.65% $717,319 $7.76
$120,694,216 $1,305.45
Included Included
$120,694,216 $1,305.45

0.80% $965,554 $10.44
$121,659,770 $1,315.90

2.75% $3,345,644 $36.19
$125,005,414 $1,352.08

7.50% $9,375,406 $101.41
$134,380,820 $1,453.49

0.70% $940,666 $10.17
$135,321,486 $1,463.66
Subtotal
General Conditions
Subtotal
General Requirements
Subtotal
Precon GC's
Subtotal
Builder's Risk on Direct Cost Only
Subtotal
SDI
Subtotal
P&P
Subtotal
Contractor's Fee
Subtotal
Design / Construction Contingency
Subtotal
Liability Insurance
7otal
TOTAL ESTIMATED CONSTRUCTION COST $1,, $1,.

SUMMARY - ELEVATED PARK
Prepared by
Page F-1.108

EXHIBIT H
Town Square Improvement Costs

Page F-1.109
Project # 20-00685.00
:LOORZ9LOODJH Project
Menlo Park, CA
Schematic Design - Rev 1 05/06/21
Element Subtotal Total Cost / SF Cost / SF
A) Shell (1-5)
1 Foundations
2 Vertical Structure
3 Floor & Roof Structures
4 Exterior Cladding
5 Roofing and Waterproofing
B) Interiors (6-7)
6 Interior Partitions, Doors and Glazing
7 Floor, Wall and Ceiling Finishes
C) Equipment and Vertical Transportation (8-9)
8 Function Equipment and Specialties
9 Stairs and Vertical Transportation
D) Mechanical and Electrical (10-13)
10 Plumbing Systems
11 Heating, Ventilation and Air Conditioning
12 Electrical Lighting, Power and Communications
13 Fire Protection Systems
E) Site Construction (14-16) $14,372,561 $205.32
14 Site Preparation and Demolition
15 Site Paving, Structures & Landscaping $11,987,561 $171.25 16 Utilities on Site $2,385,000 $34.07
$14,372,561 $205.32

4.96% $712,879 $10.18
$15,085,440 $215.51

3.27% $493,294 $7.05
$15,578,734 $222.55

0.30% $46,736 $0.67
$15,625,470 $223.22

0.65% $93,422 $1.33
$15,718,892 $224.56
Included Included
$15,718,892 $224.56

0.80% $125,751 $1.80
$15,844,643 $226.35

2.75% $435,728 $6.22
$16,280,370 $232.58

7.50% $1,221,028 $17.44
$17,501,398 $250.02

0.70% $122,510 $1.75
$17,623,908 $251.77
Subtotal
General Conditions
Subtotal
General Requirements
Subtotal
Precon GC's
Subtotal
Builder's Risk on Direct Cost Only
Subtotal
SDI
Subtotal
P&P
Subtotal
Contractor's Fee
Subtotal
Design / Construction Contingency
Subtotal
Liability Insurance
7otal
TOTAL ESTIMATED CONSTRUCTION COST $,,
 $.

SUMMARY - TOWN SQUARE
Prepared by
Page F-1.110

EXHIBIT I
Publicly Accessible Open Space Operations &
Maintenance Costs
Page F-1.111
Maintenance
Area Item Units Total Monthly Total Annually Standard
Town Square Plaza Electricity 1 708.00 8,496.00 Utility Town Square Plaza Water 1 243.75 2,925.00 Utility
Town Square Plaza Janitorial Maintenance 1 83.33 1,000.00 Industry Standard Town Square Plaza Janitorial Supplies 1 50.00 600.00 Industry Standard Town Square Plaza Landscape Area 7500 375.00 4,500.00 Estimated Quantity Town Square Plaza Landscape & Irrigation Supply 1 93.75 1,125.00 DRE Town Square Plaza Tree Maintenance 80 266.67 3,200.00 Industry Standard Town Square Plaza Minor Repairs 1 250.00 3,000.00 Industry Standard Town Square Plaza Refuse 10 150.00 1,800.00 DRE
Town Square Plaza Pest Control 1 125.00 1,500.00 DRE
Town Square Plaza Pet Waste Station Supplies 0 0.00 0.00 Industry Standard Town Square Plaza Lighting Maint. & Supply 50 0.00 0.00 Estimated Quantity Town Square Plaza Elevator Maintenance 0 0.00 0.00 Industry Standard Town Square Plaza Backflow Device Maintenance 1 33.33 400.00 Industry Standard Town Square Plaza Vandalism/Contingency 1 118.94 1,427.30 Industry Standard TOTAL MAINTENANCE 2,497.78 29,973.30
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General Concrete Pavers 69,500 0.08 0 463.33 5,560.00 DRE General Concrete Seat Wall - LF 600 0.05 0 2.50 30.00 DRE General Entry Monument 0 0.00 20 0.00 0.00 Industry Standard Amenities Plaza Furniture 8 20,000.00 8 1,666.67 20,000.00 Industry Standard Amenities Pet Waste Station 0 2,250.00 10 0.00 0.00 Industry Standard Amenities Trash Receptacles 10 500.00 10 0.00 0.00 Estimated Quantity Amenities Tubular Steel Fence - LF 0 1.00 0 0.00 0.00 Industry Standard Amenities Tubular Steel Fence - SF 0 3.00 0 0.00 0.00 Industry Standard Amenities Railing - LF 0 3.00 0 0.00 0.00 Industry Standard Amenities Lighting - Pedestrian Poles 50 100.00 0 416.67 5,000.00 Estimated Quantity Amenities Drinking Fountains 0 1,500.00 10 0.00 0.00 See Willow Village Budget Amenities Elevators 0 4,000.00 8 0.00 0.00 DRE
Landscape Irrigation Controllers 1 4,000.00 1 333.33 4,000.00 Industry Standard Landscape Tree Replacement - 3% 2 300.00 1 60.00 720.00 Industry Standard Landscape Landscape 7,500 0.05 0 31.25 375.00 Estimated Quantity Landscape Landscape - Synthetic Turf 0 0.05 0 0.00 0.00 Industry Standard TOTAL RESERVES 2,973.75 35,685.00
TOTAL BUDGETED AMOUNT 5,471.53 65,658.30
Town Square Plaza
This budget is for Town Square Plaza and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.112
Maintenance
Area Item Units Total Monthly Total Annually Standard
Public Access Park Electricity 1 159.00 1,908.00 Utility Public Access Park Water 1 2,470.90 29,650.80 Utility
Public Access Park Janitorial Maintenance 1 83.33 1,000.00 Industry Standard Public Access Park Janitorial Supplies 1 50.00 600.00 Industry Standard Public Access Park Landscape Area 134,600 6,730.00 80,760.00 DRE Public Access Park Landscape & Irrigation Supply 1 1,682.50 20,190.00 DRE Public Access Park Tree Maintenance 0 0.00 0.00 See Willow Village Budget Public Access Park Minor Repairs 1 250.00 3,000.00 Industry Standard Public Access Park Playground Inspections 1 41.67 500.00 Industry Standard Public Access Park Pest Control 1 125.00 1,500.00 DRE
Public Access Park Lighting Maint. & Supply 0 0.00 0.00 See Willow Village Budget Public Access Park Backflow Device Maintenance 1 33.33 400.00 Industry Standard Public Access Park Vandalism/Contingency 1 208.33 2,500.00 Industry Standard TOTAL MAINTENANCE 11,834.07 142,008.80
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General Paint 0 0.16 0 0.00 0.00 See Willow Village Budget General CIP Concrete 670 0.05 0 2.79 33.50 DRE
General Asphalt - Parking Lot 13,600 0.20 0 226.67 2,720.00 See Willow Village Budget General Entry Monument 1 10,000.00 20 41.67 500.00 Industry Standard General Playground Area, Equip, Fencing 1 1,000,000.00 15 5,555.56 66,666.67 Industry Standard Amenities Benches 8 1,200.00 15 53.33 640.00 Industry Standard Amenities Bike Racks 0 1,000.00 10 0.00 0.00 See Willow Village Budget Amenities Trash Receptacles 0 500.00 10 0.00 0.00 See Willow Village Budget Amenities Signage 0 5,000.00 0 0.00 0.00 See Willow Village Budget Amenities Drinking Fountains 0 1,500.00 10 0.00 0.00 See Willow Village Budget Amenities Restroom Fixtures 1 15,000.00 12 104.17 1,250.00 Industry Standard Landscape Irrigation Controllers 1 4,000.00 12 27.78 333.33 Industry Standard Landscape Tree Replacement 0 300.00 0 0.00 0.00 See Willow Village Budget Landscape Landscape 134,600 0.05 0 560.83 6,730.00 DRE
TOTAL RESERVES 6,572.79 78,873.50
TOTAL BUDGETED AMOUNT 18,406.86 220,882.30
Public Access Park
This budget is for Public Access Park and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.113
Maintenance
Area Item Units Total Monthly Total Annually Standard
Dog Park Plaza Electricity 1 433.50 5,202.00 Utility
Dog Park Plaza Water 1 120.00 1,440.00 Utility
Dog Park Plaza Janitorial Maintenance 1 125.00 1,500.00 Industry Standard Dog Park Plaza Janitorial Supplies 1 50.00 600.00 Industry Standard Dog Park Plaza Landscape Area 0 0.00 0.00 See Willow Village Budget Dog Park Plaza Landscape & Irrigation Supply 1 250.00 3,000.00 DRE Dog Park Plaza Tree Maintenance 14 46.67 560.00 Estimate Dog Park Plaza Minor Repairs 1 250.00 3,000.00 Industry Standard Dog Park Plaza Pest Control 1 125.00 1,500.00 DRE
Dog Park Plaza Pet Waste Station Supplies 4 150.00 1,800.00 Industry Standard Dog Park Plaza Lighting Maint. & Supply 3 7.50 90.00 Industry Standard Dog Park Plaza Vandalism/Contingency 1 77.88 934.60 Industry Standard TOTAL MAINTENANCE 1,635.55 19,626.60
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General Pea Gravel 4,000 0.20 0 66.67 800.00 DRE
General Entry Monument 1 10,000.00 20 41.67 500.00 Industry Standard Amenities Concrete Seats 8 2,500.00 15 111.11 1,333.33 Industry Standard Amenities Pet Waste Station 4 2,250.00 10 75.00 900.00 Industry Standard Amenities Trash Receptacles 3 500.00 10 12.50 150.00 Estimated Quantity Amenities Tubular Steel Fence - LF 418 1.00 0 34.83 418.00 Industry Standard Amenities Tubular Steel Fence - SF 5,016 3.00 0 0.00 0.00 Industry Standard Amenities Lighting - Pedestrian Poles 3 100.00 0 25.00 300.00 Industry Standard Amenities Drinking Fountains 4 1,500.00 10 50.00 600.00 Industry Standard Landscape Irrigation Controllers 1 4,000.00 12 27.78 333.33 Industry Standard Landscape Tunnel Access Boulders 5,600 0.50 0 233.33 2,800.00 Estimated Quantity Landscape Tree Replacement 14 300.00 0 0.00 0.00 See Willow Village Budget Landscape Landscape 0 300.00 1 10.50 126.00 DRE
Landscape Landscape - Synthetic Turf 740 3.00 0 185.00 2,220.00 Industry Standard TOTAL RESERVES 873.39 10,480.67
TOTAL BUDGETED AMOUNT 2,508.94 30,107.27
Dog Park Plaza
This budget is for Dog Park Plaza and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.114
Maintenance
Area Item Units Total Monthly Total Annually Standard
Elevated Park Electricity 1 2,357.00 28,284.00 Utility
Elevated Park Water 1 1,543.13 18,517.50 Utility
Elevated Park Janitorial Maintenance 1 83.33 1,000.00 Industry Standard Elevated Park Janitorial Supplies 1 50.00 600.00 Industry Standard Elevated Park Landscape Area 86,250 4,312.50 51,750.00 DRE Elevated Park Landscape & Irrigation Supply 1 1,078.13 12,937.50 DRE Elevated Park Tree Maintenance 150 500.00 6,000.00 Estimated Quantity Elevated Park Minor Repairs 1 500.00 6,000.00 Industry Standard Public Access Park Playground Inspections 1 83.33 1,000.00 Industry Standard Elevated Park Pest Control 1 125.00 1,500.00 DRE
Elevated Park Pet Waste Station Supplies 0 0.00 0.00 Industry Standard Elevated Park Lighting Maint. & Supply 24 60.00 720.00 Industry Standard Elevated Park Elevator Maintenance 4 1,166.67 14,000.00 Industry Standard Elevated Park Backflow Device Maintenance 1 33.33 400.00 Industry Standard Elevated Park Vandalism/Contingency 1 250.00 3,000.00 Industry Standard TOTAL MAINTENANCE 12,142.42 145,709.00
Reserves
Area Item Units Unit Cost
Remain.

Life Total Monthly Total Annually Standard
General CIP Concrete 1,370 0.05 0 5.71 68.50 DRE
General Entry Monument 1 10,000.00 20 41.67 500.00 Industry Standard General Public Art 1 100,000.00 30 277.78 3,333.33 Industry Standard General Play Plaza Equipment 1 50,000.00 15 277.78 3,333.33 Industry Standard General Play Structure 1 75,000.00 15 416.67 5,000.00 Industry Standard General Picnic Plaza 1 30,000.00 15 166.67 2,000.00 Industry Standard General Plaza Kiosk 1 25,000.00 15 138.89 1,666.67 Industry Standard Amenities Concrete Seats 8 2,500.00 15 111.11 1,333.33 Industry Standard Amenities Benches 8 1,200.00 15 53.33 640.00 Industry Standard Amenities Pet Waste Station 4 2,250.00 10 75.00 900.00 Industry Standard Amenities Trash Receptacles 0 500.00 10 0.00 0.00 See Willow Village Budget Amenities Tubular Steel Fence - LF 500 1.00 0 41.67 500.00 Estimated Quantity Amenities Tubular Steel Fence - SF 6,000 3.00 0 1,500.00 18,000.00 Estimated Quantity Amenities Railing - LF 1,520 3.00 0 380.00 4,560.00 Estimated Quantity Amenities Lighting - Pedestrian Poles 24 100.00 0 200.00 2,400.00 Industry Standard Amenities Drinking Fountains 0 1,500.00 10 0.00 0.00 See Willow Village Budget Amenities Elevators - Cab Refiburhment 4 5,000.00 10 166.67 2,000.00 DRE Landscape Irrigation Controllers 1 4,000.00 1 333.33 4,000.00 Industry Standard Landscape Tree Replacement - 3% 5 300.00 1 112.50 1,350.00 Industry Standard Landscape Landscape 86,250 0.05 0 359.38 4,312.50 DRE
Landscape Landscape - Synthetic Turf 0 0.20 1 0.00 0.00 See Willow Village Budget TOTAL RESERVES 4,658.14 55,897.67
TOTAL BUDGETED AMOUNT 16,800.56 201,606.67
Elevated Park
This budget is for Elevated Park and includes Maintenance and Reserve elements. This is a stand alone budget and the Willow Village budget includes components and budget numbers for this park, which will Page F-1.115
Page F-1.116
Page F-1.117
Page F-1.118
Page F-1.119
Page F-1.120
62 ATTACHMENT #2:

FEBRUARY 2022 INCREMENTAL COST ESTIMATE – PARCEL 2
(GROCERY STORE SPACE)
Page F-1.121
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com
CONCEPT ESTIMATE - PARCEL 2: reconciliation

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)
LSA JOB NUMBER:

February 24, 2022

BY LELAND SAYLOR ASSOCIATES

MENLO PARK, CA
21-079AP2R2

PREPARED FOR

BAY AREA ECONOMICS (BAE)

DRAFT FOR REVIEW
Page F-1.122
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation ESTIMATE DATE: 2/24/2022

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 10
III COMMUNITY AMENITIES 13

GROCERY STORE WITH PARKING
IV BUILDING: CORE & WARM SHELL 16
V BASEMENT BREAKOUT 33

CONTENTS
02/24/2022 Page 2 of 35 Page F-1.123
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation ESTIMATE DATE: 2/24/2022

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
02/24/2022 Page 3 of 35 Page F-1.124

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP2R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 2/24/2022

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - PARCEL 2: reconciliation
NOTE: CORE/SHELL ONLY

1.2 PROJECT DESCRIPTION OF ELEMENTS:

Construction Type:

Foundation Type:

Exterior Wall Type:

Roof Type:

Stories Below Grade:

Stories Above Grade:

Sitework:

Plumbing System:

Mechanical System:

Fire Protection System:

Electrical Service:

Special Construction:

Other Specialized Services:

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

Partial concrete frame/structural studs
Standard
Cement plaster, accents, punched windows
Single ply system, plus waterproofing raised terraces
Six
Excluded from this study
Mixed use residential/retail main service supply only
Mixed use residential/retail warm shell service supply only Sprinkler
Mixed use residential/retail warm shell service supply only This project is part of a much wider mixed use development. This study is for parcel 2 only and is prepared to allow reasonable cost allocation to specific project elements providing community amenities value, namely retail (grocery store) use. The estimate is incremental, and does not consider all systems, nor site work - refer to detail

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
One plus pit (parking)

PREFACE AND NOTES TO THE ESTIMATE

PROJECT SYNOPSIS
02/24/2022 Page 4 of 35 Page F-1.125

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP2R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 2/24/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation

PREFACE AND NOTES TO THE ESTIMATE

1.4 CONTROL QUANTITIES:

Number of Stories above grade 6
Gross Areas: Enclosed Covered
(50%)
Total Story Heights Perimeter
Basement Parking Pit 18,960 0 18,960 7.25 966
Basement B01 101,944 0 101,944 10 1,520
L1 111,601 0 111,601 16.167 1,735
L2 93,940 0 93,940 12.25 1,918
L3 71,341 3839 73,261 12.33 3,282
L4 75,180 0 75,180 11 3,282
L5 71,725 0 71,725 11 3,200
L6 59,038 0 59,038 10.33 3,100
Total Building 482,825 3,839 484,745 90.327
Total Basement 120,904 120,904
Footprint Area: Parking 120,904
Footprint Area: Building 111,601
Parapet 4.17
Gross Wall Area: Basement 22,204
Retail GSF 37,563
Community Amenities Retail
Entertainment 25,000 - offsite parcel 3
Bank/Credit Union 3,000 - offsite parcel 3
Dining 18,000 - offsite parcel 3
Total Parcel 3 46,000
Parking allocation @ factor 115 2.5
Dining - offsite @ Chevron 0 - offsite parcel 3
Pharmacy - offsite @ Hamilton 12,000
Grocery 37,563
Concrete Frame Support Area 286,185
Residential Suspended Floor 277,284
Gross Façade Area: L1-L6 195,337
Gross Façade Area: L1 28,050 6,796 31.98%
Windows or Glazing Area: % 60.00%
Windows or Glazing Area: SF 117,202
Parapet 2,637
Roof Equipment Screen 1,676
Roof Area - Total: 75,098
Waterproofed Terraces: 38,741
L1 Over Parking Waterproof 9,303
Interior Partition Ratio 1.50
Interior Partition SF 727,117
Parking: Basement L1 L2
Residential 351 351
Commercial 283 83 200
Total 634
02/24/2022 Page 5 of 35 Page F-1.126

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP2R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 2/24/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation

PREFACE AND NOTES TO THE ESTIMATE

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ........................ +25 to 100%
2 - 3 ........................ +10 to 25%
4 - 5 ........................ 0 to +10%
6 - 7 ........................ 0 to -10%
8 or more ........................ -10 to -20%
An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
02/24/2022 Page 6 of 35 Page F-1.127

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP2R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 2/24/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation

PREFACE AND NOTES TO THE ESTIMATE

4.0 4.1
DRAWINGS:

Architectural Control Package - Parcel 2, dated 09/07/21 SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 5.0
GSF
BUILDING: CORE & WARM SHELL 605,649
(INCLUDES BASEMENT)
GROCERY STORE WITH PARKING 37,563

6.0 6.1 MARKET WAGE RATES:

This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA

WAGE RATES

GROSS SQUARE FEET

ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

None
None
02/24/2022 Page 7 of 35 Page F-1.128

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP2R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 2/24/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation

PREFACE AND NOTES TO THE ESTIMATE

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 8.50%

7.2 DESIGN CONTINGENCY: 25.00%

7.3 ESCALATION: EXCLUDED -5.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%
-5.00%
No costs relating to project Remote Site are included in the price.

No forward escalation is included. A deductive allowance of 5% has been included in this estimate to align costs for reconciliation purposes only. (Applicant estimate dated April 2021).

NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

An allowance based on 10% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 25% of the construction costs subtotal has been included for Design Contingency.

PRORATE ADDITIONS TO THE ESTIMATE
02/24/2022 Page 8 of 35 Page F-1.129

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP2R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 2/24/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation

PREFACE AND NOTES TO THE ESTIMATE

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 2.75%

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

Site Development & Landscaping
Legal Fees
Special Inspections
Escalation - All costs are current $
Demolition/Site acquisition & Prep
An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.

Owner Soft Costs
Refer Detailed estimates
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 4.5% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
No costs relating to Phasing is included in the price.

Design & soft Costs
02/24/2022 Page 9 of 35 Page F-1.130
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation ESTIMATE DATE: 2/24/2022

SECTION II

SUMMARY OF THE ESTIMATE
02/24/2022 Page 10 of 35 Page F-1.131

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation DATE: 2/24/2022 SUMMARY OF THE ESTIMATE ESTIMATE BASE DATE: 11/19/2021

COST-MODEL CONSTRUCTION COSTS

1.0 GROCERY STORE WITH PARKING 37,563 GSF 524.22 $ 19,691,154

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 8.50%
Design Contingency 25.00%
Escalation EXCLUDED. Align back to APR 2021
for reconciliation purposes
-5.00%
Bonds / Insurance 2.50%
Contractors Fee (per SCCI) 2.75%
REFERENCE: PARCEL 2 BUILDING COST MODEL,
CORE & WARM SHELL: (GSF INCL BASEMENT) 605,649 GSF 283.48 $ 171,689,042 CONCEPT ESTIMATE - PARCEL 2: reconciliation
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS

SUMMARY OF THE ESTIMATE
02/24/2022 Page 11 of 35 Page F-1.132

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation DATE: 2/24/2022 SUMMARY OF THE ESTIMATE ESTIMATE BASE DATE: 11/19/2021
CONCEPT ESTIMATE - PARCEL 2: reconciliation
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%- to 100% over the prices in this Estimate, depending on the size of the job. 02/24/2022 Page 12 of 35 Page F-1.133
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation ESTIMATE DATE: 2/24/2022

GROCERY STORE WITH PARKING

SECTION III

COMMUNITY AMENITIES
02/24/2022 Page 13 of 35 Page F-1.134

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation DATE: 2/24/2022 GROCERY STORE WITH PARKING GSF 37,563
% 6.20%

GROCERY STORE WITH PARKING

1.0 CORE/SHELL COST PARCEL 2 37,563 GSF 283.48 $ 10,648,347

2.0 ADD FOR GLAZED ENTRY DOORS, DOUBLE 5 EA 40,573.88 $ 202,869

3.0 ADD FOR ENTRY CANOPY FAÇADE 3,532 SF 270.49 $ 955,380

4.0 ADD FOR STORY HEIGHT ALLOCATION 37,563 GSF 15.90 $ 597,144

5.0 ADD FOR CURTAIN WALL L2 12,077 SF 96.09 $ 1,160,530

6.0 ADD FOR INT. STOREFRONT AT PARKING L2 2,744 SF 128.48 $ 352,560

7.0 DEDUCT FOR BASEMENT ADJUSTMENT
BASEMENT SERVES RESIDENTIAL PARKING ONLY (37,563) GSF 36.69 $ (1,378,090)

8.0 ADD FOR PARKING ADJUSTMENT: GSF
ALLOW 124 SPACES/283 PROVIDED, L1 AND L2,
ADDED GSF BEYOND 6.2% GSF PORTION 43,880 GSF 111.06 $ 4,873,160

9.0 ALLOW ENHANCED WARM SHELL BUILDOUT
$25+PRORATES 37,563 GSF 40.57 $ 1,524,076

10.0 TI DEVELOPER CONTRIBUTION 37,563 GSF 75.00 EXCLUDED

11.0 PARKING SPACE FINISH, ALLOW 124 EA 2,028.69 $ 251,558

12.0 BUILDING ELEVATORS SERVING RESIDENTIAL (7) EA 30,197.25 $ (211,381)

13.0 ELEVATOR TO MEZZANINE 1 EA 215,000.00 $ 215,000

14.0 ESCALATOR ALLOWANCE 1 EA 500,000.00 $ 500,000
TOTAL CONSTRUCTION COSTS $ 19,691,154

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 8.50%
Design Contingency 25.00%
for reconciliation purposes -5.00%
Bonds / Insurance 2.50%
Contractors Fee (per SCCI) 2.75%

SUMMARY OF THE ESTIMATE
CONCEPT ESTIMATE - PARCEL 2: reconciliation
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS
02/24/2022 Page 14 of 35 Page F-1.135

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation DATE: 2/24/2022 GROCERY STORE WITH PARKING GSF 37,563
% 6.20%

CONCEPT ESTIMATE - PARCEL 2: reconciliation
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS
Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job.

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.
02/24/2022 Page 15 of 35 Page F-1.136
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation ESTIMATE DATE: 2/24/2022

SECTION IV
BUILDING: CORE & WARM SHELL
02/24/2022 Page 16 of 35 Page F-1.137

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

A SUBSTRUCTURE
A10 FOUNDATIONS 12.67 7,671,048
A20 BASEMENT CONSTRUCTION 5.95 3,605,540
SUBSTRUCTURE TOTAL 18.62 11,276,588

B SHELL
B10 SUPERSTRUCTURE 64.82 39,259,584
B20 EXTERIOR ENCLOSURE 36.76 22,263,668
B30 ROOFING 7.48 4,527,703
SHELL TOTAL 109.06 66,050,955

C INTERIORS
C10 INTERIOR CONSTRUCTION 3.41 2,067,215
C20 STAIRWAYS 2.77 1,680,000
C30 INTERIOR FINISHES 6.60 3,997,280
INTERIORS TOTAL 12.79 7,744,495

D SERVICES
D10 CONVEYING SYSTEMS 4.16 2,520,000
D20 PLUMBING SYSTEMS 5.47 3,312,762
D30 HVAC SYSTEMS 27.18 16,462,782
D40 FIRE PROTECTION SYSTEMS 5.25 3,179,655
D50 ELECTRICAL SYSTEMS 27.08 16,398,273
SERVICES TOTAL 69.14 41,873,472

E EQUIPMENT AND FURNISHINGS
E10 GROUP I EQUIPMENT - NONE
E20 FURNISHINGS (GROUP I CASEWORK) - NONE

EQUIPMENT AND FURNISHINGS TOTAL - -

F SPECIAL CONSTRUCTION/DEMOLITION
F10 SPECIAL CONSTRUCTION - NONE
F20 SELECTIVE DEMOLITION - NONE

SPECIAL CONSTRUCTION/DEMOLITION TOTAL - -

G SITEWORK
G10 SITE PREPARATION 0.20 120,904
G20 SITE IMPROVEMENTS - NONE
G30 SITE CIVIL/MECHANICAL UTILITIES 0.91 550,000
G40 SITE ELECTRICAL UTILITES 1.16 700,000
G90 OTHER SITEWORK 0.83 500,000
SITEWORK TOTAL 3.09 1,870,904
TOTAL SITE & BUILDING 605,649 GSF 209.60 126,945,510

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
02/24/2022 Page 17 of 35 Page F-1.138

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation

PRORATES
General Conditions 8.50% 10,790,368
Design Contingency 25.00% 31,736,378
reconciliation purposes -5.00% (6,347,276)
SUBTOTAL 605,649 GSF 269.34 163,124,981
Bonds / Insurance 2.50% 4,078,125
Contractors Fee (per SCCI) 2.75% 4,485,937
TOTAL CONSTRUCTION COSTS 605,649 GSF 283.48 171,689,042 02/24/2022 Page 18 of 35 Page F-1.139

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
A10 FOUNDATIONS
A1010 STANDARD FOUNDATIONS

ALLOW STANDARD FOUNDATIONS, SPREAD FOOTINGS

AND GRADE BEAMS AS NEEDED
120,904 SF 20.00 2,418,080
ELEVATOR PITS 7 EA 25,000.00 175,000
SUBTOTAL A1010 - STANDARD FOUNDATIONS 4.28 2,593,080
A1020 SPECIAL FOUNDATIONS
ALLOWANCE 120,904 SF 25.00 3,022,600
SUBTOTAL A1020 - SPECIAL FOUNDATIONS 4.99 3,022,600
A1030 SLAB ON GRADE
SLAB ON GRADE AT P1/PIT 120,904 SF 17.00 2,055,368
SUBTOTAL A1030 - SLAB ON GRADE 3.39 2,055,368
SUBTOTAL A10 - FOUNDATIONS SF 12.67 7,671,048
A20 BASEMENT CONSTRUCTION
A2010 BASEMENT EXCAVATION
EXCAVATION, INCL OFF HAUL 27,745 CY 75.00 2,080,900
SUBTOTAL A2010 - BASEMENT EXCAVATION 3.44 2,080,900
A2020 BASEMENT WALLS
REINFORCED CONCRETE WALLS 22,204 SF 44.67 991,756
WATERPROOFING 22,204 SF 24.00 532,884
SUBTOTAL A2020 - BASEMENT WALLS 2.52 1,524,640
SUBTOTAL A20 - BASEMENT CONSTRUCTION SF 5.95 3,605,540

ESTIMATE DETAIL
02/24/2022 Page 19 of 35 Page F-1.140

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
B10 SUPERSTRUCTURE
B1010 FLOOR CONSTRUCTION

CONCRETE FRAME, AREA SUPPORTING, COLUMNS,

BEAMS, SHEAR WALLS, ALLOW
286,185 SF 65.00 18,602,025
SUSPENDED CONCRETE FLOOR, L1 111,601 SF 29.63 3,306,696 SUSPENDED CONCRETE FLOOR, L2 93,940 SF 29.63 2,783,407
SUSPENDED CONCRETE FLOOR, L3 73,261 SF 29.63 2,170,681
VEHICLE RAMPS, ALLOW 6,000 SF 75.00 450,000
STUD FRAMING INTERIOR SUPPORT WALLS 290,847 SF 16.00 4,653,547 RESIDENTIAL SUSPENDED FLOOR SYSTEM, ALLOW 277,284 SF 14.00 3,881,976 FLOOR INSULATION, ALLOW 556,086 SF 5.00 2,780,428
SUBTOTAL B1010 - FLOOR CONSTRUCTION 63.78 38,628,761
B1020 ROOF CONSTRUCTION
STUD FRAMING INTERIOR SUPPORT WALLS 45,059 SF 14.00 630,823 SUBTOTAL B1020 - ROOF CONSTRUCTION 1.04 630,823
SUBTOTAL B10 - SUPERSTRUCTURE SF 64.82 39,259,584
B20 EXTERIOR ENCLOSURE
B2010 EXTERIOR WALLS

CEMENT PLASTER WALLS, INCL FRAMING, SHEATHING,

WRAP, INSULATION, GYPBOARD, NO INTERIOR FINISH
78,135 SF 65.00 5,078,770
ENHANCEMENTS ALLOWANCE (BRICK, SIDING, ETC) 20.00% % 1,015,754 PARAPETS 2,637 LF 225.00 593,325
ROOFTOP EQUIPMENT SCREENS 1,676 LF 280.00 469,280
GLAZED GUARDRAILS 385 LF 550.00 211,750
SUBTOTAL B2010 - EXTERIOR WALLS 12.17 7,368,879
02/24/2022 Page 20 of 35 Page F-1.141

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
B2020 EXTERIOR WINDOWS
GLAZING % USED: 60.00%
GLAZING, PUNCHED WINDOWS, 75% 87,902 SF 115.00 10,108,706 GLAZING, STOREFRONT, 25% 29,301 SF 140.00 4,102,083
SUBTOTAL B2020 - EXTERIOR WINDOWS 23.46 14,210,789
B2030 EXTERIOR DOORS
BUILDING ENTRY 20 EA 3,500.00 70,000
L1 RESIDENTIAL ENTRY 10 EA 2,800.00 28,000
BALCONY DOORS (RESIDENTIAL), ALLOW 120 EA 2,800.00 336,000 RETAIL, GLAZED, DOUBLE 50 EA 18,000.00 EXCLUDED
VEHICULAR ACCESS/LOADING 1 LS ###### 250,000
SUBTOTAL B2030 - EXTERIOR DOORS 1.13 684,000
SUBTOTAL B20 - EXTERIOR ENCLOSURE SF 36.76 22,263,668
B30 ROOFING
B3010 ROOF COVERINGS
ROOF AREAS, SINGLE PLY SYSTEM, INCL INSULATION 75,098 SF 32.00 2,403,136 RAISED TERRACE WATERPROOFING & INSULATION 48,044 SF 22.00 1,056,968 RAISED TERRACE PAVING 22,599 SF 25.00 564,975
RAISED DECK 16,142 SF 22.00 355,124
WALKWAY PADS, ALLOW 1,500 SF 15.00 22,500
SUBTOTAL B3010 - ROOF COVERINGS 7.27 4,402,703
B3020 ROOF OPENINGS
SKYLIGHTS, ALLOW 500 SF 250.00 125,000
SUBTOTAL B3020 - ROOF OPENINGS 0.21 125,000
SUBTOTAL B30 - ROOFING SF 7.48 4,527,703
02/24/2022 Page 21 of 35 Page F-1.142

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
C10 INTERIOR CONSTRUCTION
C1010 PARTITIONS
CORE/SHELL INTERIOR WALLS, ALLOW 109,068 SF 18.00 1,963,215 SUBTOTAL C1010 - PARTITIONS 3.24 1,963,215
C1020 INTERIOR DOORS
CORE/SHELL INTERIOR DOORS, ALLOW 40 EA 2,600.00 104,000 SUBTOTAL C1020 - INTERIOR DOORS 0.17 104,000
C1030 SPECIALTIES
EXCLUDED: TI BUDGET
SUBTOTAL C1030 - SPECIALTIES - -
SUBTOTAL C10 - INTERIOR CONSTRUCTION SF 3.41 2,067,215
C20 STAIRWAYS
C2010 STAIR CONSTRUCTION
ALLOW 6 FLIGHTS X 7 LEVELS 42 FLT 40,000.00 1,680,000
SUBTOTAL C2010 - STAIR CONSTRUCTION 2.77 1,680,000
C2020 STAIR FINISHES
EXCLUDED: TI BUDGET
SUBTOTAL C2020 - STAIR FINISHES - -
SUBTOTAL C20 - STAIRWAYS SF 2.77 1,680,000
02/24/2022 Page 22 of 35 Page F-1.143

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
C30 INTERIOR FINISHES
C3010 WALL FINISHES
CORE/SHELL AREAS ONLY, ALLOW 20% 181,695 SF 2.00 363,389 SUBTOTAL C3010 - WALL FINISHES 0.60 363,389
C3020 FLOOR FINISHES
CORE/SHELL AREAS ONLY, ALLOW 20% 121,130 SF 12.00 1,453,556 SUBTOTAL C3020 - FLOOR FINISHES 2.40 1,453,556
C3030 CEILING FINISHES
CORE/SHELL AREAS ONLY, ALLOW 20% 121,130 SF 18.00 2,180,335 SUBTOTAL C3030 - CEILING FINISHES 3.60 2,180,335
SUBTOTAL C30 - INTERIOR FINISHES SF 6.60 3,997,280
D10 CONVEYING SYSTEMS
D1010 ELEVATORS AND LIFTS
ELEVATORS, 7 STOP 7 EA ###### 2,520,000
SUBTOTAL D1010 - ELEVATORS AND LIFTS 4.16 2,520,000
D1020 ESCALATORS AND MOVING WALKS

NONE ANTICIPATED
SUBTOTAL D1020 - ESCALATORS AND MOVING WALKS - -
02/24/2022 Page 23 of 35 Page F-1.144

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
D1090 OTHER CONVEYING SYSTEMS

NONE ANTICIPATED
SUBTOTAL D1090 - OTHER CONVEYING SYSTEMS - -
SUBTOTAL D10 - CONVEYING SYSTEMS SF 4.16 2,520,000
D20 PLUMBING SYSTEMS
D2010 PLUMBING FIXTURES
NON TI FIXTURES ALLOWANCE 1 LS 25,000.00 25,000
SUBTOTAL D2010 - PLUMBING FIXTURES 0.04 25,000
D2020 DOMESTIC WATER DISTRIBUTION
SERVICE PIPING TO CORE POC'S, ALLOW 605,649 GSF 1.25 757,061 SUBTOTAL D2020 - DOMESTIC WATER DISTRIBUTION 1.25 757,061 D2030 SANITARY WASTE
SANITARY PIPING TO CORE POC'S, ALLOW 605,649 GSF 1.55 938,755 SUBTOTAL D2030 - SANITARY WASTE 1.55 938,755
D2040 RAIN WATER DRAINAGE
RAINWATER DRAINAGE/ PER SF ROOF & TERRACES 113,839 SF 10.00 1,138,390 LEADERS AND OUTFLOWS 1,807 LF 85.00 153,556
SUBTOTAL D2040 - RAIN WATER DRAINAGE 2.13 1,291,946
D2090 OTHER PLUMBING SYSTEMS
HOT WATER GENERATION 1 LS ###### 300,000
SUBTOTAL D2090 - OTHER PLUMBING SYSTEMS 0.50 300,000
SUBTOTAL D20 - PLUMBING SYSTEMS SF 5.47 3,312,762
02/24/2022 Page 24 of 35 Page F-1.145

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
D30 HVAC SYSTEMS
D3010 ENERGY SUPPLY

SEE BELOW
SUBTOTAL D3010 - ENERGY SUPPLY - -
D3020 HEAT GENERATING SYSTEMS
ELECTRIFIED HEATING SYSTEM, ALLOW 484,745 GSF 5.00 2,423,723 SUBTOTAL D3020 - HEAT GENERATING SYSTEMS 4.00 2,423,723 D3030 COOLING GENERATING SYSTEMS
AIR COOLED CHILLER & EQUIPMENT 484,745 GSF 4.00 1,938,978 SUBTOTAL D3030 - COOLING GENERATING SYSTEMS 3.20 1,938,978 D3040 DISTRIBUTION SYSTEMS

CORE/SHELL AND STUBS
WET SIDE DISTRIBUTION 484,745 GSF 4.00 1,938,978
DUCTWORK 484,745 GSF 7.00 3,393,212
SUBTOTAL D3040 - DISTRIBUTION SYSTEMS 8.80 5,332,190
D3050 TERMINAL AND PACKAGE UNITS
AIR HANDLING 484,745 GSF 7.50 3,635,584
VAV (CORE/SHELL) 484,745 GSF 0.70 339,321
EXHAUST, ALLOW 484,745 GSF 0.20 96,949
EXHAUST, ALLOW, BASEMENT 120,904 GSF 1.25 151,130
SUBTOTAL D3050 - TERMINAL AND PACKAGE UNITS 6.97 4,222,984 D3060 CONTROL & INSTRUMENTATION
CORE SHELL DISTRIBUTION CONTROLS 484,745 GSF 2.00 969,489 SUBTOTAL D3060 - CONTROL & INSTRUMENTATION 1.60 969,489 02/24/2022 Page 25 of 35 Page F-1.146

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
D3070 SYSTEMS TESTING & BALANCING
BALANCE & TEST 484,745 GSF 0.25 121,186
SUBTOTAL D3070 - SYSTEMS TESTING & BALANCING 0.20 121,186 D3090 OTHER HVAC SYSTEMS & EQUIPMENT

SEISMIC/ISOLATION/HOISTING/RIGGING/CORING &

SLEEVING/DOCUMENTATION, SAFETY, TRADE COSTS,
ALLOW
484,745 GSF 3.00 1,454,234
SUBTOTAL D3090 - OTHER HVAC SYSTEMS & EQUIPMENT 2.40 1,454,234 SUBTOTAL D30 - HVAC SYSTEMS SF 27.18 16,462,782
D40 FIRE PROTECTION SYSTEMS
D4010 SPRINKLERS

SPRINKLER - ALLOW FULL SYSTEM SERVICE & GRID,

FINAL DISTRIBUTION & HEADS IN TI
605,649 GSF 5.25 3,179,655
SUBTOTAL D4010 - SPRINKLERS 5.25 3,179,655
SUBTOTAL D40 - FIRE PROTECTION SYSTEMS SF 5.25 3,179,655 D50 ELECTRICAL SYSTEMS
D5010 ELECTRICAL SERVICE AND DISTRIBUTION

SWITCHBOARD, FEEDERS, TRANSFORMERS,

PANELBOARDS, GROUNDING,ETC
605,649 GSF 12.00 7,267,782
EQUIPMENT CONNECTIONS - ELEVATORS, HVAC, MISC 605,649 GSF 4.50 2,725,418 USER CONVENIENCE POWER (CORE/SHELL ONLY) 605,649 GSF 2.00 1,211,297 FIRE ALARM (CORE/SHELL) 605,649 GSF 3.00 1,816,946
SUBTOTAL D5010 - ELECTRICAL SERVICE AND DISTRIBUTION 21.50 13,021,443 02/24/2022 Page 26 of 35 Page F-1.147

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
D5020 LIGHTING

LIGHT FIXTURES, WIRING, CONTROLS, CORE/SHELL
ONLY
605,649 GSF 3.25 1,968,358
SUBTOTAL D5020 - LIGHTING 3.25 1,968,358
D5030 COMMUNICATION & SECURITY
SERVICE PROVISION, ALLOW 605,649 GSF 1.50 908,473
SUBTOTAL D5030 - COMMUNICATION & SECURITY 1.50 908,473
D5090 OTHER ELECTRICAL SERVICES

TESTING/SEISMIC BRACING/COORDINATION,

DOCUMENTATION
1 LS ###### 500,000
SUBTOTAL D5090 - OTHER ELECTRICAL SERVICES 0.83 500,000 SUBTOTAL D50 - ELECTRICAL SYSTEMS SF 27.08 16,398,273
E10 GROUP I EQUIPMENT
E1010 COMMERCIAL EQUIPMENT

EXCLUDED
SUBTOTAL E1010 - COMMERCIAL EQUIPMENT - -
SUBTOTAL E10 - GROUP I EQUIPMENT SF - NONE
E20 FURNISHINGS (GROUP I CASEWORK)
E2010 FIXED FURNISHINGS

EXCLUDED
SUBTOTAL E2010 - FIXED FURNISHINGS - -
02/24/2022 Page 27 of 35 Page F-1.148

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
E2020 MOVEABLE FURNISHINGS

EXCLUDED
SUBTOTAL E2020 - MOVEABLE FURNISHINGS - -
SUBTOTAL E20 - FURNISHINGS (GROUP I CASEWORK) SF - NONE F10 SPECIAL CONSTRUCTION
F1010 SPECIAL STRUCTURES

NONE ANTICIPATED
SUBTOTAL F1010 - SPECIAL STRUCTURES - -
SUBTOTAL F10 - SPECIAL CONSTRUCTION SF - NONE
F20 SELECTIVE DEMOLITION
F2010 BUILDING ELEMENTS DEMOLITION

EXCLUDED
SUBTOTAL F2010 - BUILDING ELEMENTS DEMOLITION - -
F2020 HAZARDOUS COMPONENTS ABATEMENT

EXCLUDED
SUBTOTAL F2020 - HAZARDOUS COMPONENTS ABATEMENT - -
SUBTOTAL F20 - SELECTIVE DEMOLITION SF - NONE
G10 SITE PREPARATION
G1010 SITE CLEARING

EXCLUDED
SUBTOTAL G1010 - SITE CLEARING - -
02/24/2022 Page 28 of 35 Page F-1.149

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
G1020 SITE DEMOLITION AND RELOCATIONS

EXCLUDED
SUBTOTAL G1020 - SITE DEMOLITION AND RELOCATIONS - -
G1030 SITE EARTHWORK
CUT/FILL, COVERED IN BASEMENT EXC 26,868 CY 65.00
ROUGH & FINE GRADING 120,904 SF 1.00 120,904
SUBTOTAL G1030 - SITE EARTHWORK 0.20 120,904
G1040 HAZARDOUS WASTE REMEDIATION

EXCLUDED
SUBTOTAL G1040 - HAZARDOUS WASTE REMEDIATION - -
SUBTOTAL G10 - SITE PREPARATION 0.20 120,904
G20 SITE IMPROVEMENTS
G2010 ROADWAYS

EXCLUDED
SUBTOTAL G2010 - ROADWAYS - -
G2020 PARKING LOTS
BASEMENT PARKING:

RESIDENTIAL P1 & PIT 351 STALLS EXCL
COMMERCIAL L1 & L2 283 STALLS EXCL

PARKING COSTS CONSIDERED SEPARATELY
SUBTOTAL G2020 - PARKING LOTS - -
G2030 PEDESTRIAN PAVING

EXCLUDED
SUBTOTAL G2030 - PEDESTRIAN PAVING - -
02/24/2022 Page 29 of 35 Page F-1.150

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
G2040 SITE DEVELOPMENT

EXCLUDED
SUBTOTAL G2040 - SITE DEVELOPMENT - -
G2050 LANDSCAPING

EXCLUDED
SUBTOTAL G2050 - LANDSCAPING - -
SUBTOTAL G20 - SITE IMPROVEMENTS - NONE
G30 SITE CIVIL/MECHANICAL UTILITIES
G3010 WATER SUPPLY

WATER AND FIRE WATER, INCLUDING CONNECTIONS

AND METERING, ALLOW
1 LS ###### 200,000
SUBTOTAL G3010 - WATER SUPPLY 0.33 200,000
G3020 SANITARY SEWER
SITE RUNS & CONNECTIONS, ALLOW 1 LS ###### 150,000
SUBTOTAL G3020 - SANITARY SEWER 0.25 150,000
G3030 STORM SEWER
SITE RUNS & CONNECTIONS, ALLOW 1 LS ###### 200,000
SUBTOTAL G3030 - STORM SEWER 0.33 200,000
G3040 HEATING DISTRIBUTION

EXCLUDED
SUBTOTAL G3040 - HEATING DISTRIBUTION - -
G3050 COOLING DISTRIBUTION

EXCLUDED
SUBTOTAL G3050 - COOLING DISTRIBUTION - -
02/24/2022 Page 30 of 35 Page F-1.151

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
G3060 FUEL DISTRIBUTION

EXCLUDED
SUBTOTAL G3060 - FUEL DISTRIBUTION - -
G3070 OTHER SITE MECHANICAL UTILITIES

EXCLUDED
SUBTOTAL G3070 - OTHER SITE MECHANICAL UTILITIES - -
SUBTOTAL G30 - SITE CIVIL/MECHANICAL UTILITIES 0.91 550,000 G40 SITE ELECTRICAL UTILITES
G4010 ELECTRICAL DISTRIBUTION
TRANSFORMER, DUCT BANK, CONDUCTORS, ALLOW 1 LS ###### 300,000 SUBTOTAL G4010 - ELECTRICAL DISTRIBUTION 0.50 300,000
G4020 SITE LIGHTING
NON TI LIGHTING, EMERGENCY LIGHTING, ALLOW 1 LS ###### 250,000 SUBTOTAL G4020 - SITE LIGHTING 0.41 250,000
G4030 SITE COMMUNICATIONS & SECURITY
INCOMING SERVICES, DUCT BANKS, SECURITY, ALLOW 1 LS ###### 150,000 SUBTOTAL G4030 - SITE COMMUNICATIONS & SECURITY 0.25 150,000 G4090 OTHER SITE ELECTRICAL UTILITIES

EXCLUDED
SUBTOTAL G4090 - OTHER SITE ELECTRICAL UTILITIES - -
SUBTOTAL G40 - SITE ELECTRICAL UTILITES 1.16 700,000
02/24/2022 Page 31 of 35 Page F-1.152

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 2/24/2022
BUILDING: CORE & WARM SHELL TOTAL GSF: 605,649
BASEMENT GSF: 120,904
BUILDING GSF: 484,745
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 2: reconciliation
CONCEPT ESTIMATE - PARCEL 2: reconciliation
G90 OTHER SITEWORK
G9010 SERVICE AND PEDESTRIAN TUNNELS

EXCLUDED
SUBTOTAL G9010 - SERVICE AND PEDESTRIAN TUNNELS - -
G9090 OTHER SITE SYSTEMS
GENERAL REQUIREMENTS, ALLOW 1 LS ###### 500,000
SUBTOTAL G9090 - OTHER SITE SYSTEMS 0.83 500,000
SUBTOTAL G90 - OTHER SITEWORK 0.83 500,000
02/24/2022 Page 32 of 35 Page F-1.153
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP2R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 2: reconciliation ESTIMATE DATE: 2/24/2022

SECTION V

BASEMENT BREAKOUT
02/24/2022 Page 33 of 35 Page F-1.154

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK) JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: DATE: 2/24/2022

BASEMENT BREAKOUT
BASEMENT BREAKOUT 36.69 $ 22,219,682
TOTAL JOB DIRECT COSTS $ 22,219,682

PRORATES
General Conditions 8.50%
Design Contingency 25.00%
Escalation EXCLUDED. Align back to APR 2021 for -5.00%
SUB-TOTAL $ 22,219,682
Bonds / Insurance 2.50%
Contractors Fee (per SCCI) 2.75%
TOTAL PROJECT CONSTRUCTION COSTS $ 22,219,682
SUMMARY OF THE ESTIMATE: $ROM PRICING
CONCEPT ESTIMATE - PARCEL 2: reconciliation

BASEMENT BREAKOUT
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS
02/24/2022 Page 34 of 35 Page F-1.155

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK) JOB NO: 21-079AP2R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: DATE: 2/24/2022

BASEMENT BREAKOUT

CONCEPT ESTIMATE - PARCEL 2: reconciliation

BASEMENT BREAKOUT
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

BASEMENT BREAKOUT
A20 BASEMENT CONSTRUCTION 3,605,540
B10 SUPERSTRUCTURE

CONCRETE FRAME, AREA SUPPORTING, COLUMNS,
BEAMS, SHEAR WALLS, ALLOW 111,601 SF 65.00 7,254,065
SUSPENDED CONCRETE FLOOR, L1 111,601 SF 29.63 3,306,696 VEHICLE RAMPS, ALLOW 6,000 SF 75.00 450,000
ALL $/GSF LINE ITEMS
C30 C3010 WALL FINISHES (20%) 0.60
C30 C3020 FLOOR FINISHES (20%) 2.40
C30 C3030 CEILING FINISHES (20%) 3.60
D20 D2020 SERVICE PIPING 1.25
D20 D2030 SANITARY PIPING 1.55
D30 D3050 BASEMENT EXHAUST 1.25
D40 D4010 FIRE SPRINKLERS 5.25
D50 D50 ELECTRICAL, ALLOW 50% 13.54
TOTAL 120,904 GSF 29.44 3,559,145
G10 G1030 CUT/FILL CREDIT (26,868) CY 65.00 (1,746,391) PRORATES 35% 5,790,626
TOTAL BASEMENT BREAKOUT 36.69 $ 22,219,682

ESTIMATE DETAIL
02/24/2022 Page 35 of 35 Page F-1.156
98 ATTACHMENT #3:

NOVEMBER 2021 CONCEPT ESTIMATE – HAMILTON AVENUE

NORTH PARCEL (ORIGINAL PROPOSAL FOR PHARMACY SPACE)
Page F-1.157
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com

CONCEPT ESTIMATE - PHARMACY

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)
LSA JOB NUMBER:

November 19, 2021

BY LELAND SAYLOR ASSOCIATES

MENLO PARK, CA
21-079APh

PREPARED FOR

BAY AREA ECONOMICS (BAE)

DRAFT FOR REVIEW
Page F-1.158
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - PHARMACY ESTIMATE DATE: 11/19/2021

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 10
III EXISTING BUILDING: REMODEL (CORE/SHELL) 13
IV EXISTING BUILDING: ADDITION (CORE/SHELL) 25

CONTENTS
11/19/2021 Page 2 of 40 Page F-1.159
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PHARMACY ESTIMATE DATE: 11/19/2021

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
11/19/2021 Page 3 of 40 Page F-1.160

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079APh
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/19/2021

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - PHARMACY
NOTE: CORE/SHELL ONLY FOR 6,700 GSF ADDITION. REMODEL ON (E.) 5,300 GSF OF 8,844 GSF

1.2 PROJECT DESCRIPTION OF ELEMENTS:
(E.) not known. Assumptions for addition:

Construction Type:

Foundation Type:

Exterior Wall Type:

Roof Type:

Stories Below Grade:

Stories Above Grade:

Sitework:

Plumbing System:

Mechanical System:

Fire Protection System:

Electrical Service:

Special Construction:

Other Specialized Services:

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

Steel frame
Standard
Cement plaster, accents, punched windows
Standing seam metal
One
Repairs only
Connect to existing, minimal fixtures
Upgrade (E.), additions and connections
Assume no sprinkler system
Upgrade (E.), additions and connections
This project is part of a much wider mixed use development. This study is for the pharmacy amenity only, assumed located at Hamilton Ave. The estimate is incremental, and does not consider all systems, nor site work - refer to detail

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY
None

PREFACE AND NOTES TO THE ESTIMATE

PROJECT SYNOPSIS
11/19/2021 Page 4 of 40 Page F-1.161

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079APh
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/19/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

PREFACE AND NOTES TO THE ESTIMATE

1.4 CONTROL QUANTITIES:

Number of Stories above grade 1
Gross Areas: Existing Addition Total Story Heights
L1 5,300 6700 12,000 12
Total Building 5,300 6,700 12,000 12
Footprint Area: Building 5,300 6700
Parapet 4
Retail GSF 12,000
Community Amenities Retail
Entertainment 25,000 - offsite parcel 3
Bank/Credit Union 3,000 - offsite parcel 3
Dining 18,000 - offsite parcel 3
Total Parcel 3 46,000
Parking allocation @ factor 30 2.5
Dining - offsite @ Chevron 0 - offsite parcel 3
Pharmacy @ Hamilton 12,000
Grocery 36,500 - offsite parcel 2
Gross Façade Area for Demo LF 140
Gross Façade Area New LF 285
Windows or Glazing Area: % 40.00%
Windows or Glazing Area: SF 114
Parapet LF 285
Roof Equipment Screen 0
Roof Area - New: 6,700
Interior Partition Ratio 0.20
Interior Partition SF 2,400
Parking: Assume existing
Required 30
11/19/2021 Page 5 of 40 Page F-1.162

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079APh
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/19/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

PREFACE AND NOTES TO THE ESTIMATE

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ......................... +25 to 100%
2 - 3 ......................... +10 to 25%
4 - 5 ......................... 0 to +10%
6 - 7 ......................... 0 to -10%
8 or more ......................... -10 to -20%
An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
11/19/2021 Page 6 of 40 Page F-1.163

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079APh
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/19/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

PREFACE AND NOTES TO THE ESTIMATE

4.0 4.1
DRAWINGS:

None - information taken from Masterplan 05/26/2021, Appendix 7 SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 5.0
GSF
EXISTING BUILDING: REMODEL (CORE/SHELL) 5,300
EXISTING BUILDING: ADDITION (CORE/SHELL) 6,700
TOTAL:

6.0 6.1 MARKET WAGE RATES:

This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA
12,000

WAGE RATES

GROSS SQUARE FEET

ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

None
None
11/19/2021 Page 7 of 40 Page F-1.164

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079APh
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/19/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

PREFACE AND NOTES TO THE ESTIMATE

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 10.00%

7.2 DESIGN CONTINGENCY: 25.00%

7.3 ESCALATION: EXCLUDED 0.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%

0.00%
No costs relating to project Remote Site are included in the price.

An allowance of 0% has been included in this estimate for construction material & labor cost escalation up to the anticipated mid-point of construction, based on the following assumptions:

NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

An allowance based on 10% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 25% of the construction costs subtotal has been included for Design Contingency.

PRORATE ADDITIONS TO THE ESTIMATE
11/19/2021 Page 8 of 40 Page F-1.165

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079APh
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/19/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

PREFACE AND NOTES TO THE ESTIMATE

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 4.50%

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

Site Development & Landscaping
Legal Fees
Special Inspections
Escalation - All costs are current $
Site acquisition & Prep, except where itemized
An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.

Owner Soft Costs
Refer Detailed estimates
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 4.5% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
No costs relating to Phasing is included in the price.

Design & soft Costs
11/19/2021 Page 9 of 40 Page F-1.166
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PHARMACY ESTIMATE DATE: 11/19/2021

SECTION II

SUMMARY OF THE ESTIMATE
11/19/2021 Page 10 of 40 Page F-1.167

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PHARMACY DATE: 11/19/2021 SUMMARY OF THE ESTIMATE SITE AREA:

COST-MODEL CONSTRUCTION COSTS

1.0 EXISTING BUILDING: REMODEL (CORE/SHELL) 5,300 GSF 99.41 $ 526,874

2.0 EXISTING BUILDING: ADDITION (CORE/SHELL) 6,700 GSF 330.78 $ 2,216,259 TOTAL CONSTRUCTION COSTS 12,000 GSF 228.59 $ 2,743,133

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee 4.50%

CONCEPT ESTIMATE - PHARMACY
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS

SUMMARY OF THE ESTIMATE
11/19/2021 Page 11 of 40 Page F-1.168

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PHARMACY DATE: 11/19/2021 SUMMARY OF THE ESTIMATE SITE AREA:

CONCEPT ESTIMATE - PHARMACY
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job. 11/19/2021 Page 12 of 40 Page F-1.169
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PHARMACY ESTIMATE DATE: 11/19/2021

SECTION III
EXISTING BUILDING: REMODEL (CORE/SHELL)
11/19/2021 Page 13 of 40 Page F-1.170

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

A SUBSTRUCTURE
A10 FOUNDATIONS 1.89 10,000
A20 BASEMENT CONSTRUCTION - NONE
SUBSTRUCTURE TOTAL 1.89 10,000

B SHELL
B10 SUPERSTRUCTURE 2.83 15,000
B20 EXTERIOR ENCLOSURE 1.89 10,000
B30 ROOFING 1.42 7,500
SHELL TOTAL 6.13 32,500

C INTERIORS
C10 INTERIOR CONSTRUCTION 2.72 14,400
C20 STAIRWAYS - NONE
C30 INTERIOR FINISHES 2.83 15,000
INTERIORS TOTAL 5.55 29,400

D SERVICES
D10 CONVEYING SYSTEMS - NONE
D20 PLUMBING SYSTEMS 2.83 15,000
D30 HVAC SYSTEMS 23.73 125,750
D40 FIRE PROTECTION SYSTEMS - NONE
D50 ELECTRICAL SYSTEMS 13.14 69,625
SERVICES TOTAL 39.69 210,375

E EQUIPMENT AND FURNISHINGS
E10 GROUP I EQUIPMENT - NONE
E20 FURNISHINGS (GROUP I CASEWORK) - NONE

EQUIPMENT AND FURNISHINGS TOTAL - -

F SPECIAL CONSTRUCTION/DEMOLITION
F10 SPECIAL CONSTRUCTION - NONE
F20 SELECTIVE DEMOLITION 15.56 82,470
SPECIAL CONSTRUCTION/DEMOLITION TOTAL 15.56 82,470

G SITEWORK

NONE IN THIS SCOPE - SEE ADDITION

SITEWORK TOTAL - -
TOTAL SITE & BUILDING 5,300 GSF 68.82 364,745

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
11/19/2021 Page 14 of 40 Page F-1.171

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY

PRORATES
General Conditions 10.00% 36,475
Design Contingency 25.00% 91,186
Escalation EXCLUDED 0.00% -
SUBTOTAL 5,300 GSF 92.91 492,406
Bonds / Insurance 2.50% 12,310
Contractors Fee 4.50% 22,158
TOTAL CONSTRUCTION COSTS 5,300 GSF 99.41 526,874
11/19/2021 Page 15 of 40 Page F-1.172

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
A10 FOUNDATIONS
A1010 STANDARD FOUNDATIONS

NONE ANTICIPATED
SUBTOTAL A1010 - STANDARD FOUNDATIONS -
A1020 SPECIAL FOUNDATIONS

NONE ANTICIPATED
SUBTOTAL A1020 - SPECIAL FOUNDATIONS -
A1030 SLAB ON GRADE
REPAIRS ALLOWANCE 1 LS 10,000.00 10,000
SUBTOTAL A1030 - SLAB ON GRADE 1.89 10,000
SUBTOTAL A10 - FOUNDATIONS SF 1.89 10,000
A20 BASEMENT CONSTRUCTION

NOT APPLICABLE
SUBTOTAL A20 - BASEMENT CONSTRUCTION SF - -
B10 SUPERSTRUCTURE
B1010 FLOOR CONSTRUCTION

NO SUPPORTED FLOORS
SUBTOTAL B1010 - FLOOR CONSTRUCTION - -
B1020 ROOF CONSTRUCTION
ADAPTATION FOR ADDITION, ALLOW 1 LS 15,000.00 15,000
SUBTOTAL B1020 - ROOF CONSTRUCTION 2.83 15,000

ESTIMATE DETAIL
11/19/2021 Page 16 of 40 Page F-1.173

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
SUBTOTAL B10 - SUPERSTRUCTURE SF 2.83 15,000
B20 EXTERIOR ENCLOSURE
B2010 EXTERIOR WALLS

REPAIRS ALLOWANCE AT DEMO AND ADDITION

ALIGNMENTS
1 LS 10,000.00 10,000
SUBTOTAL B2010 - EXTERIOR WALLS 1.89 10,000
B2020 EXTERIOR WINDOWS

ASSUME EXISTING REMAIN
SUBTOTAL B2020 - EXTERIOR WINDOWS - -
B2030 EXTERIOR DOORS

ASSUME NO UPGRADES (WILL BE IN NEW ADDITION)
SUBTOTAL B2030 - EXTERIOR DOORS - -
SUBTOTAL B20 - EXTERIOR ENCLOSURE SF 1.89 10,000
B30 ROOFING
B3010 ROOF COVERINGS
ASSUME EXISTING REMAINS, REPAIRS ALLOWANCE 1 LS 7,500.00 7,500 SUBTOTAL B3010 - ROOF COVERINGS 1.42 7,500
B3020 ROOF OPENINGS

NONE ANTICIPATED
SUBTOTAL B3020 - ROOF OPENINGS - -
SUBTOTAL B30 - ROOFING SF 1.42 7,500
11/19/2021 Page 17 of 40 Page F-1.174

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
C10 INTERIOR CONSTRUCTION
C1010 PARTITIONS
ALLOW NEW DEMISING WALL 600 SF 24.00 14,400
SUBTOTAL C1010 - PARTITIONS 2.72 14,400
C1020 INTERIOR DOORS

WILL BE TI SCOPE
SUBTOTAL C1020 - INTERIOR DOORS - -
C1030 SPECIALTIES
EXCLUDED: TI BUDGET
SUBTOTAL C1030 - SPECIALTIES - -
SUBTOTAL C10 - INTERIOR CONSTRUCTION SF 2.72 14,400
C20 STAIRWAYS
C2010 STAIR CONSTRUCTION
NONE
SUBTOTAL C2010 - STAIR CONSTRUCTION - -
C2020 STAIR FINISHES

NOT APPLICABLE
SUBTOTAL C2020 - STAIR FINISHES - -
SUBTOTAL C20 - STAIRWAYS SF - NONE
11/19/2021 Page 18 of 40 Page F-1.175

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
C30 INTERIOR FINISHES
C3010 WALL FINISHES
REPAIRS ALLOWANCE 1 LS 5,000.00 5,000
SUBTOTAL C3010 - WALL FINISHES 0.94 5,000
C3020 FLOOR FINISHES
REPAIRS ALLOWANCE 1 LS 5,000.00 5,000
SUBTOTAL C3020 - FLOOR FINISHES 0.94 5,000
C3030 CEILING FINISHES
REPAIRS ALLOWANCE 1 LS 5,000.00 5,000
SUBTOTAL C3030 - CEILING FINISHES 0.94 5,000
SUBTOTAL C30 - INTERIOR FINISHES SF 2.83 15,000
D10 CONVEYING SYSTEMS
D1010 ELEVATORS AND LIFTS

NOT APPLICABLE
SUBTOTAL D1010 - ELEVATORS AND LIFTS - -
D1020 ESCALATORS AND MOVING WALKS

NOT APPLICABLE
SUBTOTAL D1020 - ESCALATORS AND MOVING WALKS - -
11/19/2021 Page 19 of 40 Page F-1.176

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D1090 OTHER CONVEYING SYSTEMS

NOT APPLICABLE
SUBTOTAL D1090 - OTHER CONVEYING SYSTEMS - -
SUBTOTAL D10 - CONVEYING SYSTEMS SF - NONE
D20 PLUMBING SYSTEMS
D2010 PLUMBING FIXTURES
NON TI FIXTURES ALLOWANCE 1 LS 10,000.00 10,000
SUBTOTAL D2010 - PLUMBING FIXTURES 1.89 10,000
D2020 DOMESTIC WATER DISTRIBUTION
ASSUME (E.) TO REMAIN
SUBTOTAL D2020 - DOMESTIC WATER DISTRIBUTION - -
D2030 SANITARY WASTE
ASSUME (E.) TO REMAIN
SUBTOTAL D2030 - SANITARY WASTE - -
D2040 RAIN WATER DRAINAGE
ADAPTATIONS AT ADDITION, ALLOW 1 LS 5,000.00 5,000
SUBTOTAL D2040 - RAIN WATER DRAINAGE 0.94 5,000
D2090 OTHER PLUMBING SYSTEMS
ASSUME (E.) TO REMAIN
SUBTOTAL D2090 - OTHER PLUMBING SYSTEMS - -
SUBTOTAL D20 - PLUMBING SYSTEMS SF 2.83 15,000
11/19/2021 Page 20 of 40 Page F-1.177

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D30 HVAC SYSTEMS
D3010 ENERGY SUPPLY

SEE BELOW
SUBTOTAL D3010 - ENERGY SUPPLY - -
D3020 HEAT GENERATING SYSTEMS
ELECTRIFIED HEATING SYSTEM, ALLOW 5,300 GSF 5.00 26,500 SUBTOTAL D3020 - HEAT GENERATING SYSTEMS 5.00 26,500
D3030 COOLING GENERATING SYSTEMS
AIR COOLED CHILLER & EQUIPMENT 5,300 GSF 3.00 15,900
SUBTOTAL D3030 - COOLING GENERATING SYSTEMS 3.00 15,900 D3040 DISTRIBUTION SYSTEMS
WET SIDE DISTRIBUTION 5,300 GSF 4.00 21,200
CLEAN, ALLOW 5,300 GSF 1.00 5,300
ADAPTATIONS TO CONNECT ADDITION, ALLOW 1 LS 6,500.00 6,500 SUBTOTAL D3040 - DISTRIBUTION SYSTEMS 6.23 33,000
D3050 TERMINAL AND PACKAGE UNITS
AIR HANDLING 5,300 GSF 4.00 21,200

VAV (TI)
ASSUME (E.) TO REMAIN
SUBTOTAL D3050 - TERMINAL AND PACKAGE UNITS 4.00 21,200 D3060 CONTROL & INSTRUMENTATION
DISTRIBUTION CONTROLS UPGRADE 5,300 GSF 2.00 10,600
SUBTOTAL D3060 - CONTROL & INSTRUMENTATION 2.00 10,600
11/19/2021 Page 21 of 40 Page F-1.178

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D3070 SYSTEMS TESTING & BALANCING
BALANCE & TEST 5,300 GSF 0.25 1,325
SUBTOTAL D3070 - SYSTEMS TESTING & BALANCING 0.25 1,325 D3090 OTHER HVAC SYSTEMS & EQUIPMENT

SEISMIC/ISOLATION/HOISTING/RIGGING/CORING &

SLEEVING/DOCUMENTATION, SAFETY, TRADE COSTS,
ALLOW
5,300 GSF 3.25 17,225
SUBTOTAL D3090 - OTHER HVAC SYSTEMS & EQUIPMENT 3.25 17,225 SUBTOTAL D30 - HVAC SYSTEMS SF 23.73 125,750
D40 FIRE PROTECTION SYSTEMS
D4010 SPRINKLERS

ASSUME NOT REQUIRED
SUBTOTAL D4010 - SPRINKLERS - -
SUBTOTAL D40 - FIRE PROTECTION SYSTEMS SF - NONE
D50 ELECTRICAL SYSTEMS
D5010 ELECTRICAL SERVICE AND DISTRIBUTION

SWITCHBOARD, FEEDERS, TRANSFORMERS,

PANELBOARDS, GROUNDING,ETC ASSUME EXISTING

REMAINS
UPGRADES TO ACCOMMODATE NEW ADDITION 5,300 GSF 5.00 26,500 FIRE ALARM - UPGRADE FOR NEW ADDITION 1 LS 10,000.00 10,000 SUBTOTAL D5010 - ELECTRICAL SERVICE AND DISTRIBUTION 6.89 36,500 11/19/2021 Page 22 of 40 Page F-1.179

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D5020 LIGHTING

LIGHT FIXTURES, WIRING, CONTROLS, REPLACE, ASSUME
MOSTLY TI, ALLOW 20%
5,300 GSF 4.25 22,525
SUBTOTAL D5020 - LIGHTING 4.25 22,525
D5030 COMMUNICATION & SECURITY
UPGRADE FOR NEW ADDITION 5,300 GSF 1.00 5,300
SUBTOTAL D5030 - COMMUNICATION & SECURITY 1.00 5,300
D5090 OTHER ELECTRICAL SERVICES

TESTING/SEISMIC BRACING/COORDINATION,

DOCUMENTATION
5,300 SF 1.00 5,300
SUBTOTAL D5090 - OTHER ELECTRICAL SERVICES 1.00 5,300
SUBTOTAL D50 - ELECTRICAL SYSTEMS SF 13.14 69,625
E10 GROUP I EQUIPMENT
E1010 COMMERCIAL EQUIPMENT

EXCLUDED
SUBTOTAL E1010 - COMMERCIAL EQUIPMENT - -
SUBTOTAL E10 - GROUP I EQUIPMENT SF - NONE
E20 FURNISHINGS (GROUP I CASEWORK)
E2010 FIXED FURNISHINGS

EXCLUDED
SUBTOTAL E2010 - FIXED FURNISHINGS - -
11/19/2021 Page 23 of 40 Page F-1.180

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: REMODEL (CORE/SHELL) TOTAL GSF: 5,300 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
E2020 MOVEABLE FURNISHINGS

EXCLUDED
SUBTOTAL E2020 - MOVEABLE FURNISHINGS - -
SUBTOTAL E20 - FURNISHINGS (GROUP I CASEWORK) SF - NONE F10 SPECIAL CONSTRUCTION
F1010 SPECIAL STRUCTURES

NONE ANTICIPATED
SUBTOTAL F1010 - SPECIAL STRUCTURES - -
SUBTOTAL F10 - SPECIAL CONSTRUCTION SF - NONE
F20 SELECTIVE DEMOLITION
F2010 BUILDING ELEMENTS DEMOLITION
INTERIOR DEMO/STRIP BACK TO CORE 5,300 SF 7.50 39,750
DEMO EXTERIOR FACADE WHERE NEW ADDITION JOINS 1,680 SF 10.00 16,800 TEMPORARY SUPPORTS/PROPPING, ALLOW 1 LS 5,000.00 5,000
PROTECTION 1,680 SF 6.50 10,920
OFFHAUL 1 LS 10,000.00 10,000
SUBTOTAL F2010 - BUILDING ELEMENTS DEMOLITION 15.56 82,470 F2020 HAZARDOUS COMPONENTS ABATEMENT

NONE ANTICIPATED
SUBTOTAL F2020 - HAZARDOUS COMPONENTS ABATEMENT - -
SUBTOTAL F20 - SELECTIVE DEMOLITION SF 15.56 82,470
11/19/2021 Page 24 of 40 Page F-1.181
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079APh LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PHARMACY ESTIMATE DATE: 11/19/2021

SECTION V
EXISTING BUILDING: ADDITION (CORE/SHELL)
11/19/2021 Page 25 of 40 Page F-1.182

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

A SUBSTRUCTURE
A10 FOUNDATIONS 31.50 211,050
A20 BASEMENT CONSTRUCTION - NONE
SUBSTRUCTURE TOTAL 31.50 211,050

B SHELL
B10 SUPERSTRUCTURE 72.00 482,400
B20 EXTERIOR ENCLOSURE 67.55 452,604
B30 ROOFING 32.00 214,400
SHELL TOTAL 171.55 1,149,404

C INTERIORS
C10 INTERIOR CONSTRUCTION - NONE
C20 STAIRWAYS - NONE
C30 INTERIOR FINISHES 5.00 33,500
INTERIORS TOTAL 5.00 33,500

D SERVICES
D10 CONVEYING SYSTEMS - NONE
D20 PLUMBING SYSTEMS 3.43 23,000
D30 HVAC SYSTEMS 3.71 24,875
D40 FIRE PROTECTION SYSTEMS - NONE
D50 ELECTRICAL SYSTEMS 5.47 36,645
SERVICES TOTAL 12.61 84,520

E EQUIPMENT AND FURNISHINGS
E10 GROUP I EQUIPMENT - NONE
E20 FURNISHINGS (GROUP I CASEWORK) - NONE

EQUIPMENT AND FURNISHINGS TOTAL - -

F SPECIAL CONSTRUCTION/DEMOLITION
F10 SPECIAL CONSTRUCTION - NONE
F20 SELECTIVE DEMOLITION - NONE

SPECIAL CONSTRUCTION/DEMOLITION TOTAL - -

G SITEWORK
G10 SITE PREPARATION 26,800
G20 SITE IMPROVEMENTS 9,000
G30 SITE CIVIL/MECHANICAL UTILITIES NONE
G40 SITE ELECTRICAL UTILITES 7,500
G90 OTHER SITEWORK 12,500
SITEWORK TOTAL 8.33 55,800
TOTAL SITE & BUILDING 6,700 GSF 229.00 1,534,274

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
11/19/2021 Page 26 of 40 Page F-1.183

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY

PRORATES
General Conditions 10.00% 153,427
Design Contingency 25.00% 383,569
Escalation EXCLUDED 0.00% -
SUBTOTAL 6,700 GSF 309.14 2,071,270
Bonds / Insurance 2.50% 51,782
Contractors Fee 4.50% 93,207
TOTAL CONSTRUCTION COSTS 6,700 GSF 330.78 2,216,259
11/19/2021 Page 27 of 40 Page F-1.184

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
A10 FOUNDATIONS
A1010 STANDARD FOUNDATIONS
SPREAD FOOTINGS, GRADE BEAMS 6,700 GSF 18.00 120,600
SUBTOTAL A1010 - STANDARD FOUNDATIONS -
A1020 SPECIAL FOUNDATIONS

NONE ANTICIPATED
SUBTOTAL A1020 - SPECIAL FOUNDATIONS -
A1030 SLAB ON GRADE

SLAB ON GRADE, INCL BASE ROCK, SAND,

WATERPROOF, CONCRETE, REBAR, FORMWORK
6,700 SF 22.50 150,750
SUBTOTAL A1030 - SLAB ON GRADE 22.50 150,750
SUBTOTAL A10 - FOUNDATIONS SF 31.50 211,050
A20 BASEMENT CONSTRUCTION

NOT APPLICABLE
SUBTOTAL A20 - BASEMENT CONSTRUCTION SF - -
B10 SUPERSTRUCTURE
B1010 FLOOR CONSTRUCTION

NO SUPPORTED FLOORS
SUBTOTAL B1010 - FLOOR CONSTRUCTION - -
B1020 ROOF CONSTRUCTION
STEEL FRAME, WITH FIRE PROTECTION 6,700 SF 72.00 482,400 SUBTOTAL B1020 - ROOF CONSTRUCTION 72.00 482,400

ESTIMATE DETAIL
11/19/2021 Page 28 of 40 Page F-1.185

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
SUBTOTAL B10 - SUPERSTRUCTURE SF 72.00 482,400
B20 EXTERIOR ENCLOSURE
B2010 EXTERIOR WALLS
ALLOW 60.00%

NEW WALLS, FRAMING, WRAP, INSULATION, INTERIOR

FINISH, ALLOW CEMENT PLASTER
2,052 SF 70.00 143,640
ENHANCEMENTS ALLOWANCE 10% 10.00% % 143,640.00 14,364
INTEGRATION WITH EXITING, ALLOW 1 LS 15,000.00 15,000
PARAPET 1,140 SF 60.00 68,400
SUBTOTAL B2010 - EXTERIOR WALLS 36.03 241,404
B2020 EXTERIOR WINDOWS
ALLOW 40.00%
STOREFRONT GLAZING SYSTEM 1,368 SF 125.00 171,000
SUBTOTAL B2020 - EXTERIOR WINDOWS 25.52 171,000
B2030 EXTERIOR DOORS
DOUBLE AUTO GLAZED DOORS 2 EA 18,000.00 36,000
GENERAL ENTRY, DOUBLE 1 EA 4,200.00 4,200
SUBTOTAL B2030 - EXTERIOR DOORS 6.00 40,200
SUBTOTAL B20 - EXTERIOR ENCLOSURE SF 67.55 452,604
B30 ROOFING
B3010 ROOF COVERINGS
ALLOW STANDING SEAM, INCL INSULATION 6,700 SF 32.00 214,400 SUBTOTAL B3010 - ROOF COVERINGS 32.00 214,400
11/19/2021 Page 29 of 40 Page F-1.186

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
B3020 ROOF OPENINGS

NONE ANTICIPATED
SUBTOTAL B3020 - ROOF OPENINGS - -
SUBTOTAL B30 - ROOFING SF 32.00 214,400
C10 INTERIOR CONSTRUCTION
C1010 PARTITIONS

ASSUME TI ONLY -
SUBTOTAL C1010 - PARTITIONS - -
C1020 INTERIOR DOORS

ASSUME TI ONLY
SUBTOTAL C1020 - INTERIOR DOORS - -
C1030 SPECIALTIES
EXCLUDED: TI BUDGET
SUBTOTAL C1030 - SPECIALTIES - -
SUBTOTAL C10 - INTERIOR CONSTRUCTION SF - NONE
C20 STAIRWAYS
C2010 STAIR CONSTRUCTION
NONE
SUBTOTAL C2010 - STAIR CONSTRUCTION - -
11/19/2021 Page 30 of 40 Page F-1.187

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
C2020 STAIR FINISHES

NOT APPLICABLE
SUBTOTAL C2020 - STAIR FINISHES - -
SUBTOTAL C20 - STAIRWAYS SF - NONE
C30 INTERIOR FINISHES
C3010 WALL FINISHES
EXCLUDED: TI BUDGET
SUBTOTAL C3010 - WALL FINISHES - -
C3020 FLOOR FINISHES
SEAL CONCRETE 6,700 SF 5.00 33,500
SUBTOTAL C3020 - FLOOR FINISHES 5.00 33,500
C3030 CEILING FINISHES
EXCLUDED: TI BUDGET
SUBTOTAL C3030 - CEILING FINISHES - -
SUBTOTAL C30 - INTERIOR FINISHES SF 5.00 33,500
D10 CONVEYING SYSTEMS
D1010 ELEVATORS AND LIFTS

NOT APPLICABLE
SUBTOTAL D1010 - ELEVATORS AND LIFTS - -
11/19/2021 Page 31 of 40 Page F-1.188

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D1020 ESCALATORS AND MOVING WALKS

NOT APPLICABLE
SUBTOTAL D1020 - ESCALATORS AND MOVING WALKS - -
D1090 OTHER CONVEYING SYSTEMS

NOT APPLICABLE
SUBTOTAL D1090 - OTHER CONVEYING SYSTEMS - -
SUBTOTAL D10 - CONVEYING SYSTEMS SF - NONE
D20 PLUMBING SYSTEMS
D2010 PLUMBING FIXTURES
STUBS, CONNECT TO EXISTING, ALLOW 1 LS 3,500.00 3,500
SUBTOTAL D2010 - PLUMBING FIXTURES 0.52 3,500
D2020 DOMESTIC WATER DISTRIBUTION
STUBS, CONNECT TO EXISTING, ALLOW 1 LS 3,500.00 3,500
SUBTOTAL D2020 - DOMESTIC WATER DISTRIBUTION 0.52 3,500 D2030 SANITARY WASTE
STUBS, CONNECT TO EXISTING, ALLOW 1 LS 3,500.00 3,500
SUBTOTAL D2030 - SANITARY WASTE 0.52 3,500
D2040 RAIN WATER DRAINAGE
ROOF DRAINS AND DOWN SPOUTS, ALLOW 1 LS 12,500.00 12,500 SUBTOTAL D2040 - RAIN WATER DRAINAGE 1.87 12,500
11/19/2021 Page 32 of 40 Page F-1.189

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D2090 OTHER PLUMBING SYSTEMS

NONE ANTICIPATED
SUBTOTAL D2090 - OTHER PLUMBING SYSTEMS - -
SUBTOTAL D20 - PLUMBING SYSTEMS SF 3.43 23,000
D30 HVAC SYSTEMS
D3010 ENERGY SUPPLY

SEE REMODEL
SUBTOTAL D3010 - ENERGY SUPPLY - -
D3020 HEAT GENERATING SYSTEMS

SEE REMODEL
SUBTOTAL D3020 - HEAT GENERATING SYSTEMS - -
D3030 COOLING GENERATING SYSTEMS

SEE REMODEL
SUBTOTAL D3030 - COOLING GENERATING SYSTEMS - -
D3040 DISTRIBUTION SYSTEMS
WET SIDE DISTRIBUTION STUB CONNECTIONS 1 LS 5,000.00 5,000 DUCTWORK STUBS 1 LS 7,500.00 7,500
SUBTOTAL D3040 - DISTRIBUTION SYSTEMS 1.87 12,500
D3050 TERMINAL AND PACKAGE UNITS

SEE REMODEL

VAV (TI)
SUBTOTAL D3050 - TERMINAL AND PACKAGE UNITS - -
11/19/2021 Page 33 of 40 Page F-1.190

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D3060 CONTROL & INSTRUMENTATION
DISTRIBUTION CONTROLS @ STUBS 1 LS 4,000.00 4,000
SUBTOTAL D3060 - CONTROL & INSTRUMENTATION 0.60 4,000
D3070 SYSTEMS TESTING & BALANCING
BALANCE & TEST 6,700 GSF 0.25 1,675
SUBTOTAL D3070 - SYSTEMS TESTING & BALANCING 0.25 1,675 D3090 OTHER HVAC SYSTEMS & EQUIPMENT

SEISMIC/ISOLATION/HOISTING/RIGGING/CORING &

SLEEVING/DOCUMENTATION, SAFETY, TRADE COSTS,
ALLOW
6,700 GSF 1.00 6,700
SUBTOTAL D3090 - OTHER HVAC SYSTEMS & EQUIPMENT 1.00 6,700 SUBTOTAL D30 - HVAC SYSTEMS SF 3.71 24,875
D40 FIRE PROTECTION SYSTEMS
D4010 SPRINKLERS

ASSUME NOT REQUIRED
SUBTOTAL D4010 - SPRINKLERS - -
SUBTOTAL D40 - FIRE PROTECTION SYSTEMS SF - NONE
D50 ELECTRICAL SYSTEMS
D5010 ELECTRICAL SERVICE AND DISTRIBUTION
FIRE ALARM - SHELL PROVISION 1 LS 7,500.00 7,500
SUBTOTAL D5010 - ELECTRICAL SERVICE AND DISTRIBUTION 1.12 7,500 11/19/2021 Page 34 of 40 Page F-1.191

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
D5020 LIGHTING

LIGHT FIXTURES, WIRING, CONTROLS, ASSUME MOSTLY
TI, ALLOW 20%
6,700 GSF 4.00 26,800
SUBTOTAL D5020 - LIGHTING 4.00 26,800
D5030 COMMUNICATION & SECURITY
EXCLUDED: TI BUDGET
SUBTOTAL D5030 - COMMUNICATION & SECURITY - -
D5090 OTHER ELECTRICAL SERVICES

TESTING/SEISMIC BRACING/COORDINATION,

DOCUMENTATION
6,700 SF 0.35 2,345
SUBTOTAL D5090 - OTHER ELECTRICAL SERVICES 0.35 2,345
SUBTOTAL D50 - ELECTRICAL SYSTEMS SF 5.47 36,645
E10 GROUP I EQUIPMENT
E1010 COMMERCIAL EQUIPMENT

EXCLUDED
SUBTOTAL E1010 - COMMERCIAL EQUIPMENT - -
SUBTOTAL E10 - GROUP I EQUIPMENT SF - NONE
E20 FURNISHINGS (GROUP I CASEWORK)
E2010 FIXED FURNISHINGS

EXCLUDED
SUBTOTAL E2010 - FIXED FURNISHINGS - -
11/19/2021 Page 35 of 40 Page F-1.192

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
E2020 MOVEABLE FURNISHINGS

EXCLUDED
SUBTOTAL E2020 - MOVEABLE FURNISHINGS - -
SUBTOTAL E20 - FURNISHINGS (GROUP I CASEWORK) SF - NONE F10 SPECIAL CONSTRUCTION
F1010 SPECIAL STRUCTURES

NONE ANTICIPATED
SUBTOTAL F1010 - SPECIAL STRUCTURES - -
SUBTOTAL F10 - SPECIAL CONSTRUCTION SF - NONE
F20 SELECTIVE DEMOLITION
F2010 BUILDING ELEMENTS DEMOLITION

SEE REMODEL
SUBTOTAL F2010 - BUILDING ELEMENTS DEMOLITION - -
F2020 HAZARDOUS COMPONENTS ABATEMENT

NONE ANTICIPATED
SUBTOTAL F2020 - HAZARDOUS COMPONENTS ABATEMENT - -
SUBTOTAL F20 - SELECTIVE DEMOLITION SF - NONE
G10 SITE PREPARATION
G1010 SITE CLEARING
SITE CLEARANCE 6,700 SF 1.00 6,700
SUBTOTAL G1010 - SITE CLEARING 1.00 6,700
11/19/2021 Page 36 of 40 Page F-1.193

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
G1020 SITE DEMOLITION AND RELOCATIONS
SAW CUT AND DEMO (E.) PARKING LOT FOR NEW PAD 6,700 SF 2.00 13,400 SUBTOTAL G1020 - SITE DEMOLITION AND RELOCATIONS 2.00 13,400 G1030 SITE EARTHWORK
ROUGH & FINE GRADING 6,700 SF 1.00 6,700
SUBTOTAL G1030 - SITE EARTHWORK 1.00 6,700
G1040 HAZARDOUS WASTE REMEDIATION

EXCLUDED
SUBTOTAL G1040 - HAZARDOUS WASTE REMEDIATION - -
SUBTOTAL G10 - SITE PREPARATION 4.00 26,800
G20 SITE IMPROVEMENTS
G2010 ROADWAYS

EXCLUDED
SUBTOTAL G2010 - ROADWAYS - -
G2020 PARKING LOTS
COMMERCIAL PARKING ALLOCATION, 30 SPACES,
ASSUME (E.) IN PLACE, ALLOW REPAIRS/ADJUSTMENTS
ONLY
30 EA 300.00 9,000
SUBTOTAL G2020 - PARKING LOTS 1.34 9,000
G2030 PEDESTRIAN PAVING

EXCLUDED
SUBTOTAL G2030 - PEDESTRIAN PAVING - -
11/19/2021 Page 37 of 40 Page F-1.194

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
G2040 SITE DEVELOPMENT

EXCLUDED
SUBTOTAL G2040 - SITE DEVELOPMENT - -
G2050 LANDSCAPING

EXCLUDED
SUBTOTAL G2050 - LANDSCAPING - -
SUBTOTAL G20 - SITE IMPROVEMENTS 1.34 9,000
G30 SITE CIVIL/MECHANICAL UTILITIES
G3010 WATER SUPPLY

ASSUME EXISTING IN PLACE
SUBTOTAL G3010 - WATER SUPPLY - -
G3020 SANITARY SEWER

ASSUME EXISTING IN PLACE
SUBTOTAL G3020 - SANITARY SEWER - -
G3030 STORM SEWER

ASSUME EXISTING IN PLACE
SUBTOTAL G3030 - STORM SEWER - -
G3040 HEATING DISTRIBUTION

EXCLUDED
SUBTOTAL G3040 - HEATING DISTRIBUTION - -
G3050 COOLING DISTRIBUTION

EXCLUDED
SUBTOTAL G3050 - COOLING DISTRIBUTION - -
11/19/2021 Page 38 of 40 Page F-1.195

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
G3060 FUEL DISTRIBUTION

EXCLUDED
SUBTOTAL G3060 - FUEL DISTRIBUTION - -
G3070 OTHER SITE MECHANICAL UTILITIES

EXCLUDED
SUBTOTAL G3070 - OTHER SITE MECHANICAL UTILITIES - -
SUBTOTAL G30 - SITE CIVIL/MECHANICAL UTILITIES - NONE
G40 SITE ELECTRICAL UTILITES
G4010 ELECTRICAL DISTRIBUTION

ASSUME EXISTING IN PLACE
SUBTOTAL G4010 - ELECTRICAL DISTRIBUTION - -
G4020 SITE LIGHTING
ADJUSTMENTS ARISING, ALLOW 1 LS 7,500.00 7,500
SUBTOTAL G4020 - SITE LIGHTING 1.12 7,500
G4030 SITE COMMUNICATIONS & SECURITY

ASSUME EXISTING IN PLACE
SUBTOTAL G4030 - SITE COMMUNICATIONS & SECURITY - -
G4090 OTHER SITE ELECTRICAL UTILITIES

EXCLUDED
SUBTOTAL G4090 - OTHER SITE ELECTRICAL UTILITIES - -
SUBTOTAL G40 - SITE ELECTRICAL UTILITES 1.12 7,500
11/19/2021 Page 39 of 40 Page F-1.196

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079APh
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 11/19/2021
EXISTING BUILDING: ADDITION (CORE/SHELL) TOTAL GSF: 6,700 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - PHARMACY

CONCEPT ESTIMATE - PHARMACY
G90 OTHER SITEWORK
G9010 SERVICE AND PEDESTRIAN TUNNELS

EXCLUDED
SUBTOTAL G9010 - SERVICE AND PEDESTRIAN TUNNELS - -
G9090 OTHER SITE SYSTEMS

GENERAL REQUIREMENTS, INCL SITE FENCING, SAFETY,

SIGNAGE, ETC, ALLOW
1 LS 12,500.00 12,500
SUBTOTAL G9090 - OTHER SITE SYSTEMS 1.87 12,500
SUBTOTAL G90 - OTHER SITEWORK 1.87 12,500
11/19/2021 Page 40 of 40 Page F-1.197
139
ATTACHMENT #4:

MARCH 2022 INCREMENTAL COST ESTIMATE – PARCEL 3
(COMMERCIAL SPACE FOR BANK/CREDIT UNION, DINING

OPTIONS, AND COMMUNITY ENTERTAINMENT)
Page F-1.198
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com
CONCEPT ESTIMATE - PARCEL 3

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)
LSA JOB NUMBER:

March 18, 2021

BY LELAND SAYLOR ASSOCIATES

MENLO PARK, CA
21-079AP3R2

PREPARED FOR

BAY AREA ECONOMICS (BAE)
Page F-1.199
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 ESTIMATE DATE: 3/18/2021

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 10
III COMMUNITY AMENITIES 13

BANK/CREDIT UNION
DINING

ENTERTAINMENT
IV BUILDING: CORE & WARM SHELL 20
V BASEMENT BREAKOUT 37

CONTENTS
03/18/2022 Page 2 of 39 Page F-1.200
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 ESTIMATE DATE: 3/18/2021

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
03/18/2022 Page 3 of 39 Page F-1.201

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP3R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/18/2021

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - PARCEL 3
NOTE: CORE/SHELL ONLY

1.2 PROJECT DESCRIPTION OF ELEMENTS:

Construction Type:

Foundation Type:

Exterior Wall Type:

Roof Type:

Stories Below Grade:

Stories Above Grade:

Sitework:

Plumbing System:

Mechanical System:

Fire Protection System:

Electrical Service:

Special Construction:

Other Specialized Services:

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

Partial concrete frame/structural studs
Standard
Cement plaster, accents, punched windows
Single ply system, plus waterproofing raised terraces
Seven
Excluded from this study
Mixed use residential/retail main service supply only
Mixed use residential/retail warm shell service supply only Sprinkler
Mixed use residential/retail warm shell service supply only This project is part of a much wider mixed use development. This study is for parcel 3 only and is prepared to allow reasonable cost allocation to specific project elements providing community amenities value, namely retail/entertainment uses. The estimate is incremental, and does not consider all systems, nor site work - refer to detail

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
Two (parking)

PREFACE AND NOTES TO THE ESTIMATE

PROJECT SYNOPSIS
03/18/2022 Page 4 of 39 Page F-1.202

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP3R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/18/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3

PREFACE AND NOTES TO THE ESTIMATE

1.4 CONTROL QUANTITIES:

Number of Stories above grade 7
Gross Areas: Enclosed Covered
(50%)
Total Story Heights Perimeter
Basement B02 114,734 0 114,734 15 1,473
Basement B01 114,721 0 114,721 12 1,477
L1 92,562 0 92,562 17 2,668
L2 69,261 47 69,285 10.33 2,333
L3 68,565 240 68,685 10.33 3,244
L4 68,500 0 68,500 10.33 3,244
L5 68,069 5387 70,763 10.33 3,244
L6 67,342 0 67,342 10.33 3,244
L7 66,953 0 66,953 10.33 3,244
Total Building 501,252 5,674 504,089 105.98
Total Basement 229,455 229,455
Footprint Area: Parking 114,734
Footprint Area: Building 92,562
Parapet 4.17
Gross Wall Area: Basement 39,819
Retail GSF 52,461
Community Amenities Retail
Entertainment 21,690 72
Bank/Credit Union 2,660 9
Dining 18,000 59
Total Parcel 3 42,350
Parking allocation @ factor 140 3.3
Dining - offsite @ Chevron 0
Pharmacy - offsite @ Hamilton 12,000
Grocery - offsite at Parcel 2 36,500
Concrete Frame Support Area 281,903
Residential Suspended Floor 359,066
Gross Façade Area: L1-L7 237,008
Gross Façade Area: L1 45,356 17,796 64.57%
Windows or Glazing Area: % 60.00%
Windows or Glazing Area: SF 142,205
Parapet 3,781
Roof Equipment Screen 1,676
Roof Area - Total: 63,811
Waterproofed Terraces: 40,205
L1 Over Parking Waterproof 22,172
Interior Partition Ratio 2.00
Interior Partition SF 1,008,178
Parking:

Residential 419
Commercial 220
Total 639
Parking allocations per Applicant at 3.3 per 1,000
Parking allocations per Applicant at 3.3 per 1,000
03/18/2022 Page 5 of 39 Page F-1.203

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP3R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/18/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3

PREFACE AND NOTES TO THE ESTIMATE

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ......................... +25 to 100%
2 - 3 ......................... +10 to 25%
4 - 5 ......................... 0 to +10%
6 - 7 ......................... 0 to -10%
8 or more ......................... -10 to -20%
An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
03/18/2022 Page 6 of 39 Page F-1.204

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP3R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/18/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3

PREFACE AND NOTES TO THE ESTIMATE

4.0 4.1
DRAWINGS:

Architectural Control Package - Parcel 3, dated 09/07/21 SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 5.0
GSF
BUILDING: CORE & WARM SHELL 733,544
(INCLUDES BASEMENT)
BANK/CREDIT UNION 2,660
DINING 18,000
ENTERTAINMENT 21,690

6.0 6.1 MARKET WAGE RATES:

This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA

WAGE RATES

GROSS SQUARE FEET

ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

None
None
03/18/2022 Page 7 of 39 Page F-1.205

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP3R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/18/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3

PREFACE AND NOTES TO THE ESTIMATE

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 10.00%

7.2 DESIGN CONTINGENCY: 25.00%

7.3 ESCALATION: EXCLUDED 0.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%

0.00%
No costs relating to project Remote Site are included in the price.

An allowance of 0% has been included in this estimate for construction material & labor cost escalation up to the anticipated mid-point of construction, based on the following assumptions:

NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

An allowance based on 10% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 25% of the construction costs subtotal has been included for Design Contingency.

PRORATE ADDITIONS TO THE ESTIMATE
03/18/2022 Page 8 of 39 Page F-1.206

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AP3R2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/18/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3

PREFACE AND NOTES TO THE ESTIMATE

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 4.50%

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

Site Development & Landscaping
Legal Fees
Special Inspections
Escalation - All costs are current $
Demolition/Site acquisition & Prep
An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.

Owner Soft Costs
Refer Detailed estimates
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 4.5% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
No costs relating to Phasing is included in the price.

Design & soft Costs
03/18/2022 Page 9 of 39 Page F-1.207
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 ESTIMATE DATE: 3/18/2021

SECTION II

SUMMARY OF THE ESTIMATE
03/18/2022 Page 10 of 39 Page F-1.208

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 3/18/2021 SUMMARY OF THE ESTIMATE BASE DATE: 11/18/2021

COST-MODEL CONSTRUCTION COSTS

1.0 BANK/CREDIT UNION 2,660 GSF 488.08 $ 1,298,303

2.0 DINING 18,000 GSF 477.60 $ 8,596,881

3.0 ENTERTAINMENT 21,690 GSF 470.56 $ 10,206,494

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee 4.50%
REFERENCE: PARCEL 3 BUILDING COST MODEL,
CORE & WARM SHELL: (GSF INCL BASEMENT) 733,544 GSF 289.50 $ 212,358,877 CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS

SUMMARY OF THE ESTIMATE
03/18/2022 Page 11 of 39 Page F-1.209

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 3/18/2021 SUMMARY OF THE ESTIMATE BASE DATE: 11/18/2021
CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job. 03/18/2022 Page 12 of 39 Page F-1.210
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 ESTIMATE DATE: 3/18/2021

BANK/CREDIT UNION
DINING

ENTERTAINMENT

SECTION III

COMMUNITY AMENITIES
03/18/2022 Page 13 of 39 Page F-1.211

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079A LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 10/25/2021 BANK/CREDIT UNION GSF 2,660
% 0.36%

BANK/CREDIT UNION

1.0 CORE/SHELL COST PARCEL 3 2,660 GSF 289.50 $ 770,062

2.0 ADD FOR GLAZED ENTRY DOORS, DOUBLE 3 EA 26,001.00 $ 78,003

3.0 ADD FOR STORY HEIGHT ALLOCATION 2,660 GSF 33.70 $ 89,647

4.0 ADD FOR BASEMENT ADJUSTMENT
ALLOW 9 SPACES/220 PROVIDED, LEVEL B01,
ADDED GSF BEYOND 3,000 GSF 2,033 GSF 73.27 $ 148,971

5.0 ALLOW ENHANCED WARM SHELL BUILDOUT
$50+PRORATES 2,660 GSF 72.23 $ 192,119

6.0 TI DEVELOPER CONTRIBUTION 2,660 GSF 75.00 EXCLUDED

7.0 PARKING SPACE FINISH, ALLOW 9 EA 2,166.75 $ 19,501
TOTAL CONSTRUCTION COSTS $ 1,298,303

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee 4.50%

SUMMARY OF THE ESTIMATE
CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS
03/18/2022 Page 14 of 39 Page F-1.212

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079A LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 10/25/2021 BANK/CREDIT UNION GSF 2,660
% 0.36%

CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS
Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job. 03/18/2022 Page 15 of 39 Page F-1.213

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079A LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 10/25/2021 DINING GSF 18,000
% 2.45%
DINING

1.0 CORE/SHELL COST PARCEL 3 18,000 GSF 289.50 $ 5,210,948

2.0 ADD FOR GLAZED ENTRY DOORS, DOUBLE 16 EA 26,001.00 $ 416,016

3.0 ADD FOR STORY HEIGHT ALLOCATION 18,000 GSF 33.70 $ 606,636

4.0 ADD FOR BASEMENT ADJUSTMENT
ALLOW 59 SPACES/220 PROVIDED, LEVEL B01,
ADDED GSF BEYOND 18,000 GSF 12,766 GSF 73.27 $ 935,393

5.0 ALLOW ENHANCED WARM SHELL BUILDOUT
$50+PRORATES 18,000 GSF 72.23 $ 1,300,050

6.0 TI DEVELOPER CONTRIBUTION 18,000 GSF 75.00 EXCLUDED

7.0 PARKING SPACE FINISH, ALLOW 59 EA 2,166.75 $ 127,838 TOTAL CONSTRUCTION COSTS $ 8,596,881

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee 4.50%

SUMMARY OF THE ESTIMATE
CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS
03/18/2022 Page 16 of 39 Page F-1.214

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079A LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 10/25/2021 DINING GSF 18,000
% 2.45%

CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS
Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job.

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.
03/18/2022 Page 17 of 39 Page F-1.215

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079A LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 10/25/2021 ENTERTAINMENT GSF 21,690
% 2.96%

ENTERTAINMENT

1.0 CORE/SHELL COST PARCEL 3 21,690 GSF 289.50 $ 6,279,193

2.0 ADD FOR GLAZED ENTRY DOORS, DOUBLE 12 EA 26,001.00 $ 312,012

3.0 ADD FOR STORY HEIGHT ALLOCATION 21,690 GSF 33.70 $ 730,997

4.0 ADD FOR BASEMENT ADJUSTMENT
ALLOW 72 SPACES/220 PROVIDED, LEVEL B01,
ADDED GSF BEYOND 25,000 GSF 15,855 GSF 73.27 $ 1,161,727

5.0 ALLOW ENHANCED WARM SHELL BUILDOUT
$50+PRORATES 21,690 GSF 72.23 $ 1,566,560

6.0 TI DEVELOPER CONTRIBUTION 21,690 GSF 75.00 EXCLUDED

7.0 PARKING SPACE FINISH, ALLOW 72 EA 2,166.75 $ 156,006 TOTAL CONSTRUCTION COSTS $ 10,206,494

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee 4.50%

SUMMARY OF THE ESTIMATE
CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS
03/18/2022 Page 18 of 39 Page F-1.216

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079A LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 DATE: 10/25/2021 ENTERTAINMENT GSF 21,690
% 2.96%

CONCEPT ESTIMATE - PARCEL 3
DIV # DESCRIPTION QTY UNIT UNIT

COST TOTALS
Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job.

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.
03/18/2022 Page 19 of 39 Page F-1.217
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 ESTIMATE DATE: 3/18/2021

SECTION IV
BUILDING: CORE & WARM SHELL
03/18/2022 Page 20 of 39 Page F-1.218

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

A SUBSTRUCTURE
A10 FOUNDATIONS 9.87 7,238,508
A20 BASEMENT CONSTRUCTION 13.22 9,696,656
SUBSTRUCTURE TOTAL 23.09 16,935,164

B SHELL
B10 SUPERSTRUCTURE 56.88 41,726,563
B20 EXTERIOR ENCLOSURE 36.13 26,505,681
B30 ROOFING 6.23 4,566,871
SHELL TOTAL 99.24 72,799,115

C INTERIORS
C10 INTERIOR CONSTRUCTION 3.85 2,826,081
C20 STAIRWAYS 2.94 2,160,000
C30 INTERIOR FINISHES 6.80 4,988,099
INTERIORS TOTAL 13.60 9,974,180

D SERVICES
D10 CONVEYING SYSTEMS 2.73 2,000,000
D20 PLUMBING SYSTEMS 4.91 3,599,249
D30 HVAC SYSTEMS 23.17 16,997,369
D40 FIRE PROTECTION SYSTEMS 5.25 3,851,106
D50 ELECTRICAL SYSTEMS 28.43 20,855,846
SERVICES TOTAL 64.49 47,303,570

E EQUIPMENT AND FURNISHINGS
E10 GROUP I EQUIPMENT - NONE
E20 FURNISHINGS (GROUP I CASEWORK) - NONE

EQUIPMENT AND FURNISHINGS TOTAL - -

F SPECIAL CONSTRUCTION/DEMOLITION
F10 SPECIAL CONSTRUCTION - NONE
F20 SELECTIVE DEMOLITION - NONE

SPECIAL CONSTRUCTION/DEMOLITION TOTAL - -

G SITEWORK
G10 SITE PREPARATION 0.16 114,734
G20 SITE IMPROVEMENTS - NONE
G30 SITE CIVIL/MECHANICAL UTILITIES 0.75 550,000
G40 SITE ELECTRICAL UTILITES 0.95 700,000
G90 OTHER SITEWORK 0.68 500,000
SITEWORK TOTAL 2.54 1,864,734
TOTAL SITE & BUILDING 733,544 GSF 200.41 147,012,030

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
03/18/2022 Page 21 of 39 Page F-1.219

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3

PRORATES
General Conditions 10.00% 14,701,203
Design Contingency 25.00% 36,753,007
Escalation EXCLUDED 0.00% -
SUBTOTAL 733,544 GSF 270.56 198,466,240
Bonds / Insurance 2.50% 4,961,656
Contractors Fee 4.50% 8,930,981
TOTAL CONSTRUCTION COSTS 733,544 GSF 289.50 212,358,877 03/18/2022 Page 22 of 39 Page F-1.220

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
A10 FOUNDATIONS
A1010 STANDARD FOUNDATIONS

ALLOW STANDARD FOUNDATIONS, SPREAD

FOOTINGS/PILE CAPS AND GRADE BEAMS AS NEEDED
114,734 SF 20.00 2,294,680
ELEVATOR PITS 5 EA 25,000.00 125,000
SUBTOTAL A1010 - STANDARD FOUNDATIONS 3.30 2,419,680
A1020 SPECIAL FOUNDATIONS
ALLOWANCE 114,734 SF 25.00 2,868,350
SUBTOTAL A1020 - SPECIAL FOUNDATIONS 3.91 2,868,350
A1030 SLAB ON GRADE
SLAB ON GRADE AT B02 114,734 SF 17.00 1,950,478
SUBTOTAL A1030 - SLAB ON GRADE 2.66 1,950,478
SUBTOTAL A10 - FOUNDATIONS SF 9.87 7,238,508
A20 BASEMENT CONSTRUCTION
A2010 BASEMENT EXCAVATION
EXCAVATION, INCL OFF HAUL 92,777 CY 75.00 6,958,298
SUBTOTAL A2010 - BASEMENT EXCAVATION 9.49 6,958,298
A2020 BASEMENT WALLS
REINFORCED CONCRETE WALLS 39,879 SF 44.67 1,781,262
WATERPROOFING 39,879 SF 24.00 957,096
SUBTOTAL A2020 - BASEMENT WALLS 3.73 2,738,358
SUBTOTAL A20 - BASEMENT CONSTRUCTION SF 13.22 9,696,656

ESTIMATE DETAIL
03/18/2022 Page 23 of 39 Page F-1.221

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
B10 SUPERSTRUCTURE
B1010 FLOOR CONSTRUCTION

CONCRETE FRAME, AREA SUPPORTING, COLUMNS,

BEAMS, SHEAR WALLS, ALLOW
281,903 SF 65.00 18,323,695
SUSPENDED CONCRETE FLOOR, B01 114,721 SF 29.63 3,399,141 SUSPENDED CONCRETE FLOOR, L1 114,721 SF 29.63 3,399,141 SUSPENDED CONCRETE FLOOR, L2 52,461 SF 29.63 1,554,400
VEHICLE RAMPS, ALLOW 3,000 SF 75.00 225,000
STUD FRAMING INTERIOR SUPPORT WALLS 403,271 SF 16.00 6,452,339 RESIDENTIAL SUSPENDED FLOOR SYSTEM, ALLOW 359,066 SF 14.00 5,026,924 FLOOR INSULATION, ALLOW 526,248 SF 5.00 2,631,240
BASEMENT BREAKOUT: $21,937,011
SUBTOTAL B1010 - FLOOR CONSTRUCTION 55.91 41,011,880
B1020 ROOF CONSTRUCTION
STUD FRAMING INTERIOR SUPPORT WALLS 51,049 SF 14.00 714,683 SUBTOTAL B1020 - ROOF CONSTRUCTION 0.97 714,683
SUBTOTAL B10 - SUPERSTRUCTURE SF 56.88 41,726,563
B20 EXTERIOR ENCLOSURE
B2010 EXTERIOR WALLS

CEMENT PLASTER WALLS, INCL FRAMING, SHEATHING,

WRAP, INSULATION, GYPBOARD, NO INTERIOR FINISH
94,803 SF 65.00 6,162,221
ENHANCEMENTS ALLOWANCE (BRICK, SIDING, ETC) 20.00% % 1,232,444 PARAPETS 3,781 LF 225.00 850,725
ROOFTOP EQUIPMENT SCREENS 1,676 LF 280.00 469,280
SUBTOTAL B2010 - EXTERIOR WALLS 11.88 8,714,670
03/18/2022 Page 24 of 39 Page F-1.222

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
B2020 EXTERIOR WINDOWS
GLAZING % USED: 60.00%
GLAZING, PUNCHED WINDOWS, 80% 113,764 SF 115.00 13,082,869 GLAZING, STOREFRONT, 20% 28,441 SF 140.00 3,981,743
SUBTOTAL B2020 - EXTERIOR WINDOWS 23.26 17,064,611
B2030 EXTERIOR DOORS
BUILDING ENTRY 20 EA 3,500.00 70,000
L1 RESIDENTIAL ENTRY 13 EA 2,800.00 36,400
BALCONY DOORS (RESIDENTIAL), ALLOW 150 EA 2,800.00 420,000 RETAIL, GLAZED, DOUBLE 50 EA 18,000.00 EXCLUDED
VEHICULAR ACCESS/LOADING 1 LS 200,000.00 200,000
SUBTOTAL B2030 - EXTERIOR DOORS 0.99 726,400
SUBTOTAL B20 - EXTERIOR ENCLOSURE SF 36.13 26,505,681
B30 ROOFING
B3010 ROOF COVERINGS
ROOF AREAS, SINGLE PLY SYSTEM, INCL INSULATION 63,811 SF 32.00 2,041,952 RAISED TERRACE WATERPROOFING & INSULATION 62,377 SF 22.00 1,372,294 RAISED TERRACE PAVING 40,205 SF 25.00 1,005,125
WALKWAY PADS, ALLOW 1,500 SF 15.00 22,500
SUBTOTAL B3010 - ROOF COVERINGS 6.06 4,441,871
B3020 ROOF OPENINGS
SKYLIGHTS, ALLOW 500 SF 250.00 125,000
SUBTOTAL B3020 - ROOF OPENINGS 0.17 125,000
SUBTOTAL B30 - ROOFING SF 6.23 4,566,871
03/18/2022 Page 25 of 39 Page F-1.223

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
C10 INTERIOR CONSTRUCTION
C1010 PARTITIONS
CORE/SHELL INTERIOR WALLS, ALLOW 151,227 SF 18.00 2,722,081 SUBTOTAL C1010 - PARTITIONS 3.71 2,722,081
C1020 INTERIOR DOORS
CORE/SHELL INTERIOR DOORS, ALLOW 40 EA 2,600.00 104,000 SUBTOTAL C1020 - INTERIOR DOORS 0.14 104,000
C1030 SPECIALTIES
EXCLUDED: TI BUDGET
SUBTOTAL C1030 - SPECIALTIES - -
SUBTOTAL C10 - INTERIOR CONSTRUCTION SF 3.85 2,826,081
C20 STAIRWAYS
C2010 STAIR CONSTRUCTION
ALLOW 6 FLIGHTS X 9 LEVELS 54 FLT 40,000.00 2,160,000
SUBTOTAL C2010 - STAIR CONSTRUCTION 2.94 2,160,000
C2020 STAIR FINISHES
EXCLUDED: TI BUDGET
SUBTOTAL C2020 - STAIR FINISHES - -
SUBTOTAL C20 - STAIRWAYS SF 2.94 2,160,000
03/18/2022 Page 26 of 39 Page F-1.224

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
C30 INTERIOR FINISHES
C3010 WALL FINISHES
CORE/SHELL AREAS ONLY, ALLOW 20% 293,418 SF 2.00 586,835 SUBTOTAL C3010 - WALL FINISHES 0.80 586,835
C3020 FLOOR FINISHES
CORE/SHELL AREAS ONLY, ALLOW 20% 146,709 SF 12.00 1,760,506 SUBTOTAL C3020 - FLOOR FINISHES 2.40 1,760,506
C3030 CEILING FINISHES
CORE/SHELL AREAS ONLY, ALLOW 20% 146,709 SF 18.00 2,640,758 SUBTOTAL C3030 - CEILING FINISHES 3.60 2,640,758
SUBTOTAL C30 - INTERIOR FINISHES SF 6.80 4,988,099
D10 CONVEYING SYSTEMS
D1010 ELEVATORS AND LIFTS
ELEVATORS, 9 STOP 5 EA 400,000.00 2,000,000
SUBTOTAL D1010 - ELEVATORS AND LIFTS 2.73 2,000,000
D1020 ESCALATORS AND MOVING WALKS

NONE ANTICIPATED
SUBTOTAL D1020 - ESCALATORS AND MOVING WALKS - -
D1090 OTHER CONVEYING SYSTEMS

NONE ANTICIPATED
SUBTOTAL D1090 - OTHER CONVEYING SYSTEMS - -
SUBTOTAL D10 - CONVEYING SYSTEMS SF 2.73 2,000,000
03/18/2022 Page 27 of 39 Page F-1.225

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
D20 PLUMBING SYSTEMS
D2010 PLUMBING FIXTURES
NON TI FIXTURES ALLOWANCE 1 LS 25,000.00 25,000
SUBTOTAL D2010 - PLUMBING FIXTURES 0.03 25,000
D2020 DOMESTIC WATER DISTRIBUTION
SERVICE PIPING TO CORE POC'S, ALLOW 733,544 GSF 1.25 916,930 SUBTOTAL D2020 - DOMESTIC WATER DISTRIBUTION 1.25 916,930 D2030 SANITARY WASTE
SANITARY PIPING TO CORE POC'S, ALLOW 733,544 GSF 1.55 1,136,993 SUBTOTAL D2030 - SANITARY WASTE 1.55 1,136,993
D2040 RAIN WATER DRAINAGE
RAINWATER DRAINAGE/ PER SF ROOF & TERRACES 104,016 SF 10.00 1,040,160 LEADERS AND OUTFLOWS 2,120 LF 85.00 180,166
SUBTOTAL D2040 - RAIN WATER DRAINAGE 1.66 1,220,326
D2090 OTHER PLUMBING SYSTEMS
HOT WATER GENERATION 1 LS 300,000.00 300,000
SUBTOTAL D2090 - OTHER PLUMBING SYSTEMS 0.41 300,000
SUBTOTAL D20 - PLUMBING SYSTEMS SF 4.91 3,599,249
D30 HVAC SYSTEMS
D3010 ENERGY SUPPLY

SEE BELOW
SUBTOTAL D3010 - ENERGY SUPPLY - -
03/18/2022 Page 28 of 39 Page F-1.226

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
D3020 HEAT GENERATING SYSTEMS
ELECTRIFIED HEATING SYSTEM, ALLOW 504,089 GSF 5.00 2,520,445 SUBTOTAL D3020 - HEAT GENERATING SYSTEMS 3.44 2,520,445 D3030 COOLING GENERATING SYSTEMS
AIR COOLED CHILLER & EQUIPMENT 504,089 GSF 4.00 2,016,356 SUBTOTAL D3030 - COOLING GENERATING SYSTEMS 2.75 2,016,356 D3040 DISTRIBUTION SYSTEMS
WET SIDE DISTRIBUTION 504,089 GSF 4.00 2,016,356
DUCTWORK (CORE/SHELL ONLY) 504,089 GSF 7.00 3,528,623
SUBTOTAL D3040 - DISTRIBUTION SYSTEMS 7.56 5,544,979
D3050 TERMINAL AND PACKAGE UNITS
AIR HANDLING 504,089 GSF 7.50 3,780,668
VAV (CORE/SHELL) 504,089 GSF 0.70 352,862
EXHAUST, ALLOW 504,089 GSF 0.20 100,818
EXHAUST, ALLOW, BASEMENT 229,455 GSF 1.25 286,819
SUBTOTAL D3050 - TERMINAL AND PACKAGE UNITS 6.16 4,521,166 D3060 CONTROL & INSTRUMENTATION
CORE SHELL DISTRIBUTION CONTROLS 504,089 GSF 1.50 756,134 SUBTOTAL D3060 - CONTROL & INSTRUMENTATION 1.03 756,134 D3070 SYSTEMS TESTING & BALANCING
BALANCE & TEST 504,089 GSF 0.25 126,022
SUBTOTAL D3070 - SYSTEMS TESTING & BALANCING 0.17 126,022 03/18/2022 Page 29 of 39 Page F-1.227

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
D3090 OTHER HVAC SYSTEMS & EQUIPMENT

SEISMIC/ISOLATION/HOISTING/RIGGING/CORING &

SLEEVING/DOCUMENTATION, SAFETY, TRADE COSTS,
ALLOW
504,089 GSF 3.00 1,512,267
SUBTOTAL D3090 - OTHER HVAC SYSTEMS & EQUIPMENT 2.06 1,512,267 SUBTOTAL D30 - HVAC SYSTEMS SF 23.17 16,997,369
D40 FIRE PROTECTION SYSTEMS
D4010 SPRINKLERS

SPRINKLER - ALLOW FULL SYSTEM SERVICE & GRID,

FINAL DISTRIBUTION & HEADS IN TI
733,544 GSF 5.25 3,851,106
SUBTOTAL D4010 - SPRINKLERS 5.25 3,851,106
SUBTOTAL D40 - FIRE PROTECTION SYSTEMS SF 5.25 3,851,106 D50 ELECTRICAL SYSTEMS
D5010 ELECTRICAL SERVICE AND DISTRIBUTION

SWITCHBOARD, FEEDERS, TRANSFORMERS,

PANELBOARDS, GROUNDING,ETC
733,544 GSF 12.00 8,802,528
EQUIPMENT CONNECTIONS - ELEVATORS, HVAC, MISC 733,544 GSF 4.50 3,300,948 USER CONVENIENCE POWER (CORE/SHELL ONLY) 733,544 GSF 2.00 1,467,088 FIRE ALARM (CORE/SHELL) 733,544 GSF 4.50 3,300,948
SUBTOTAL D5010 - ELECTRICAL SERVICE AND DISTRIBUTION 23.00 16,871,512 D5020 LIGHTING

LIGHT FIXTURES, WIRING, CONTROLS, CORE/SHELL
ONLY
733,544 GSF 3.25 2,384,018
SUBTOTAL D5020 - LIGHTING 3.25 2,384,018
03/18/2022 Page 30 of 39 Page F-1.228

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
D5030 COMMUNICATION & SECURITY
SERVICE PROVISION, ALLOW 733,544 GSF 1.50 1,100,316
SUBTOTAL D5030 - COMMUNICATION & SECURITY 1.50 1,100,316 D5090 OTHER ELECTRICAL SERVICES

TESTING/SEISMIC BRACING/COORDINATION,

DOCUMENTATION
1 LS 500,000.00 500,000
SUBTOTAL D5090 - OTHER ELECTRICAL SERVICES 0.68 500,000 SUBTOTAL D50 - ELECTRICAL SYSTEMS SF 28.43 20,855,846
E10 GROUP I EQUIPMENT
E1010 COMMERCIAL EQUIPMENT

EXCLUDED
SUBTOTAL E1010 - COMMERCIAL EQUIPMENT - -
SUBTOTAL E10 - GROUP I EQUIPMENT SF - NONE
E20 FURNISHINGS (GROUP I CASEWORK)
E2010 FIXED FURNISHINGS

EXCLUDED
SUBTOTAL E2010 - FIXED FURNISHINGS - -
E2020 MOVEABLE FURNISHINGS

EXCLUDED
SUBTOTAL E2020 - MOVEABLE FURNISHINGS - -
SUBTOTAL E20 - FURNISHINGS (GROUP I CASEWORK) SF - NONE 03/18/2022 Page 31 of 39 Page F-1.229

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
F10 SPECIAL CONSTRUCTION
F1010 SPECIAL STRUCTURES

NONE ANTICIPATED
SUBTOTAL F1010 - SPECIAL STRUCTURES - -
SUBTOTAL F10 - SPECIAL CONSTRUCTION SF - NONE
F20 SELECTIVE DEMOLITION
F2010 BUILDING ELEMENTS DEMOLITION

EXCLUDED
SUBTOTAL F2010 - BUILDING ELEMENTS DEMOLITION - -
F2020 HAZARDOUS COMPONENTS ABATEMENT

EXCLUDED
SUBTOTAL F2020 - HAZARDOUS COMPONENTS ABATEMENT - -
SUBTOTAL F20 - SELECTIVE DEMOLITION SF - NONE
G10 SITE PREPARATION
G1010 SITE CLEARING

EXCLUDED
SUBTOTAL G1010 - SITE CLEARING - -
G1020 SITE DEMOLITION AND RELOCATIONS

EXCLUDED
SUBTOTAL G1020 - SITE DEMOLITION AND RELOCATIONS - -
03/18/2022 Page 32 of 39 Page F-1.230

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
G1030 SITE EARTHWORK
CUT/FILL, COVERED IN BASEMENT EXC 21,247 CY 65.00
ROUGH & FINE GRADING 114,734 SF 1.00 114,734
SUBTOTAL G1030 - SITE EARTHWORK 0.16 114,734
G1040 HAZARDOUS WASTE REMEDIATION

EXCLUDED
SUBTOTAL G1040 - HAZARDOUS WASTE REMEDIATION - -
SUBTOTAL G10 - SITE PREPARATION 0.16 114,734
G20 SITE IMPROVEMENTS
G2010 ROADWAYS

EXCLUDED
SUBTOTAL G2010 - ROADWAYS - -
G2020 PARKING LOTS
BASEMENT PARKING:

RESIDENTIAL BO2 419 STALLS EXCL
COMMERCIAL BO1 220 STALLS EXCL

PARKING COSTS CONSIDERED SEPARATELY AS TI
SUBTOTAL G2020 - PARKING LOTS - -
G2030 PEDESTRIAN PAVING

EXCLUDED
SUBTOTAL G2030 - PEDESTRIAN PAVING - -
G2040 SITE DEVELOPMENT

EXCLUDED
SUBTOTAL G2040 - SITE DEVELOPMENT - -
03/18/2022 Page 33 of 39 Page F-1.231

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
G2050 LANDSCAPING

EXCLUDED
SUBTOTAL G2050 - LANDSCAPING - -
SUBTOTAL G20 - SITE IMPROVEMENTS - NONE
G30 SITE CIVIL/MECHANICAL UTILITIES
G3010 WATER SUPPLY

WATER AND FIRE WATER, INCLUDING CONNECTIONS

AND METERING, ALLOW
1 LS 200,000.00 200,000
SUBTOTAL G3010 - WATER SUPPLY 0.27 200,000
G3020 SANITARY SEWER
SITE RUNS & CONNECTIONS, ALLOW 1 LS 150,000.00 150,000
SUBTOTAL G3020 - SANITARY SEWER 0.20 150,000
G3030 STORM SEWER
SITE RUNS & CONNECTIONS, ALLOW 1 LS 200,000.00 200,000
SUBTOTAL G3030 - STORM SEWER 0.27 200,000
G3040 HEATING DISTRIBUTION

EXCLUDED
SUBTOTAL G3040 - HEATING DISTRIBUTION - -
G3050 COOLING DISTRIBUTION

EXCLUDED
SUBTOTAL G3050 - COOLING DISTRIBUTION - -
G3060 FUEL DISTRIBUTION

EXCLUDED
SUBTOTAL G3060 - FUEL DISTRIBUTION - -
03/18/2022 Page 34 of 39 Page F-1.232

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
G3070 OTHER SITE MECHANICAL UTILITIES

EXCLUDED
SUBTOTAL G3070 - OTHER SITE MECHANICAL UTILITIES - -
SUBTOTAL G30 - SITE CIVIL/MECHANICAL UTILITIES 0.75 550,000 G40 SITE ELECTRICAL UTILITES
G4010 ELECTRICAL DISTRIBUTION
TRANSFORMER, DUCT BANK, CONDUCTORS, ALLOW 1 LS 300,000.00 300,000 SUBTOTAL G4010 - ELECTRICAL DISTRIBUTION 0.41 300,000
G4020 SITE LIGHTING
NON TI LIGHTING, EMERGENCY LIGHTING, ALLOW 1 LS 250,000.00 250,000 SUBTOTAL G4020 - SITE LIGHTING 0.34 250,000
G4030 SITE COMMUNICATIONS & SECURITY
INCOMING SERVICES, DUCT BANKS, SECURITY, ALLOW 1 LS 150,000.00 150,000 SUBTOTAL G4030 - SITE COMMUNICATIONS & SECURITY 0.20 150,000 G4090 OTHER SITE ELECTRICAL UTILITIES

EXCLUDED
SUBTOTAL G4090 - OTHER SITE ELECTRICAL UTILITIES - -
SUBTOTAL G40 - SITE ELECTRICAL UTILITES 0.95 700,000
G90 OTHER SITEWORK
G9010 SERVICE AND PEDESTRIAN TUNNELS

EXCLUDED
SUBTOTAL G9010 - SERVICE AND PEDESTRIAN TUNNELS - -
03/18/2022 Page 35 of 39 Page F-1.233

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: CHECKED BY: MP, BSS
DESCRIPTION: ESTIMATE DATE: 3/18/2021
BUILDING: CORE & WARM SHELL TOTAL GSF: 733,544
BASEMENT GSF: 229,455
BUILDING GSF: 504,089
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

BAY AREA ECONOMICS (BAE)
CONCEPT ESTIMATE - PARCEL 3
CONCEPT ESTIMATE - PARCEL 3
G9090 OTHER SITE SYSTEMS
GENERAL REQUIREMENTS, ALLOW 1 LS 500,000.00 500,000
SUBTOTAL G9090 - OTHER SITE SYSTEMS 0.68 500,000
SUBTOTAL G90 - OTHER SITEWORK 0.68 500,000
03/18/2022 Page 36 of 39 Page F-1.234
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AP3R2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - PARCEL 3 ESTIMATE DATE: 3/18/2021

SECTION V

BASEMENT BREAKOUT
03/18/2022 Page 37 of 39 Page F-1.235

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK) JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: DATE: 3/18/2021

BASEMENT BREAKOUT
BASEMENT BREAKOUT 73.27 $ 53,748,003
TOTAL JOB DIRECT COSTS $ 53,748,003

PRORATES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
SUB-TOTAL $ 53,748,003
Bonds / Insurance 2.50%
Contractors Fee 4.50%
TOTAL PROJECT CONSTRUCTION COSTS $ 53,748,003
SUMMARY OF THE ESTIMATE: $ROM PRICING
CONCEPT ESTIMATE - PARCEL 3

BASEMENT BREAKOUT
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS
03/18/2022 Page 38 of 39 Page F-1.236

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK) JOB NO: 21-079AP3R2
LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: DATE: 3/18/2021

BASEMENT BREAKOUT

CONCEPT ESTIMATE - PARCEL 3

BASEMENT BREAKOUT
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

BASEMENT BREAKOUT
A20 BASEMENT CONSTRUCTION 9,696,656
B10 SUPERSTRUCTURE

CONCRETE FRAME, AREA SUPPORTING, COLUMNS,
BEAMS, SHEAR WALLS, ALLOW 229,442 SF 65.00 14,913,730
SUSPENDED CONCRETE FLOOR, B01 114,721 SF 29.63 3,399,141 SUSPENDED CONCRETE FLOOR, L1 114,721 SF 29.63 3,399,141 VEHICLE RAMPS, ALLOW 3,000 SF 75.00 225,000
ALL $/GSF LINE ITEMS
C30 C3010 WALL FINISHES (20%) 0.80
C30 C3020 FLOOR FINISHES (20%) 2.40
C30 C3030 CEILING FINISHES (20%) 3.60
D20 D2020 SERVICE PIPING 1.25
D20 D2030 SANITARY PIPING 1.55
D30 D3050 BASEMENT EXHAUST 1.25
D40 D4010 FIRE SPRINKLERS 5.25
D50 D50 ELECTRICAL, ALLOW 50% 14.22
TOTAL 229,455 GSF 30.32 6,956,114
G10 G1030 CUT/FILL CREDIT (21,247) CY 65.00 (1,381,057) PRORATES 44% 16,539,278
TOTAL BASEMENT BREAKOUT 73.27 $ 53,748,003

ESTIMATE DETAIL
03/18/2022 Page 39 of 39 Page F-1.237
179
ATTACHMENT #5:

MARCH 2022 CONSTRUCTION COST ESTIMATE – WILLOW
ROAD TUNNEL PHASES 1 & 2
Page F-1.238
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com

CONCEPT ESTIMATE - WILLOW TUNNEL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)
LSA JOB NUMBER:

March 14, 2022

BY LELAND SAYLOR ASSOCIATES

MENLO PARK, CA
21-079AWTR2

PREPARED FOR

BAY AREA ECONOMICS (BAE)

DRAFT FOR REVIEW
Page F-1.239
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AWTR2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 9
III COMMUNITY AMENITIES 12

CONCEPT ESTIMATE - WILLOW TUNNEL
PH 1 EAST, PH 2 WEST

CONTENTS
03/14/2022 Page 2 of 21 Page F-1.240
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AWTR2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
03/14/2022 Page 3 of 21 Page F-1.241

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/14/2022

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - WILLOW TUNNEL

1.2 PROJECT DESCRIPTION OF ELEMENTS:

Tunnel connection under Willow Road for tram, pedestrian and bike use

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

1.4 CONTROL QUANTITIES:

THIS SECTION NOT USED - REFER TO ESTIMATE SECTIONS
Refer to schedule of quantities provided, used as a guide

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

PROJECT SYNOPSIS

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - WILLOW TUNNEL

PREFACE AND NOTES TO THE ESTIMATE
An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.

This project is part of a much wider mixed use development. This study is for the proposed Willow Road Tunnel under-pass only and is prepared to allow reasonable cost allocation to specific project elements providing community amenities value, namely the pedestrian/bike access. 03/14/2022 Page 4 of 21 Page F-1.242

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/14/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - WILLOW TUNNEL

PREFACE AND NOTES TO THE ESTIMATE

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ........................ +25 to 100%
2 - 3 ........................ +10 to 25%
4 - 5 ........................ 0 to +10%
6 - 7 ........................ 0 to -10%
8 or more ........................ -10 to -20%

4.0 4.1
DRAWINGS:

WSP Memo and included eight conceptual drawings, dated 01/05/2022 SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
None
None
03/14/2022 Page 5 of 21 Page F-1.243

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/14/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - WILLOW TUNNEL

PREFACE AND NOTES TO THE ESTIMATE

5.0 GSF
CONCEPT ESTIMATE - WILLOW TUNNEL 24,780 INCLUDES NORTH RAMP

6.0 6.1 MARKET WAGE RATES:

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 10.00%

7.2 DESIGN CONTINGENCY: 25.00%

GROSS SQUARE FEET

PRORATE ADDITIONS TO THE ESTIMATE

WAGE RATES
This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA
NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

An allowance based on 10% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 25% of the construction costs subtotal has been included for Design Contingency.
03/14/2022 Page 6 of 21 Page F-1.244

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/14/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - WILLOW TUNNEL

PREFACE AND NOTES TO THE ESTIMATE

7.3 ESCALATION: EXCLUDED 0.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 5.50%
An allowance of 0% has been included in this estimate for construction material & labor cost escalation up to the anticipated mid-point of construction, based on the following assumptions:

0.00%
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 5.5% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

No costs relating to Phasing is included in the price.

No costs relating to project Remote Site are included in the price.

An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.
03/14/2022 Page 7 of 21 Page F-1.245

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/14/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - WILLOW TUNNEL

PREFACE AND NOTES TO THE ESTIMATE

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

Owner Soft Costs
Refer Detailed estimates
Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
Design & soft Costs
Legal Fees
Special Inspections
Escalation - All costs are current $
Demolition/Site acquisition & Prep, except where itemized 03/14/2022 Page 8 of 21 Page F-1.246
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AWTR2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022

SECTION II

SUMMARY OF THE ESTIMATE
03/14/2022 Page 9 of 21 Page F-1.247

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AWTR2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL DATE: 3/14/2022 SUMMARY OF THE ESTIMATE: $ROM SITE AREA: 24,780
PHASE 1 EAST HALF TUNNEL - DRAWING TC2-2 $ 22,945,047
PHASE 2 WEST HALF TUNNEL+NORTH RAMP -
DRAWINGS TC2-3 $ 39,357,526
TOTAL CONSTRUCTION COST, ENTIRE SCOPE $ 62,302,573

ALLOCATE PROPORTIONAL SHARE

FOR BIKE/PEDESTRIAN BENEFIT,
15 LF WIDTH OUT OF TOTAL 42'

0.357142857 62,302,573 $ 22,250,919
AMENITY VALUE: $ 22,250,919
PER SF AMENITY: 2,514.23

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee 5.50%

CONCEPT ESTIMATE - WILLOW TUNNEL
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

SUMMARY OF THE ESTIMATE
03/14/2022 Page 10 of 21 Page F-1.248

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AWTR2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL DATE: 3/14/2022 SUMMARY OF THE ESTIMATE: $ROM SITE AREA: 24,780

CONCEPT ESTIMATE - WILLOW TUNNEL
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job. 03/14/2022 Page 11 of 21 Page F-1.249
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AWTR2 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022

CONCEPT ESTIMATE - WILLOW TUNNEL

SECTION III

COMMUNITY AMENITIES
03/14/2022 Page 12 of 21 Page F-1.250

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 4,830 EAST HALF TUNNEL - DRAWING TC2-2
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL
PHASE 1 EAST HALF TUNNEL - DRAWING TC2-2
A SHIFT WILLOW ROAD TO THE WEST 491.34 2,373,150
B ACCOMMODATE UTILITIES 7.76 37,500
C INSTALL SHORING 655.58 3,166,455
D UNDERPIN JPB TRACK 87.34 421,875
E EXCAVATE TUNNEL & INSTALL SD SIPHON 367.89 1,776,893
F CONSTRUCT TUNNEL & REPLACE ROAD 655.07 3,163,971
X GENERAL ITEMS 993.27 4,797,500
TOTAL DIRECT 4,830 3,258.25 15,737,343

PRORATES
General Conditions 10.00% 1,573,734
Design Contingency 25.00% 3,934,336
Escalation EXCLUDED 0.00% -
SUBTOTAL 4,830 4,398.64 21,245,414
Bonds / Insurance 2.50% 531,135
Contractors Fee 5.50% 1,168,498
TOTAL CONSTRUCTION COSTS 4,830 4,750.53 22,945,047

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
03/14/2022 Page 13 of 21 Page F-1.251

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 4,830 EAST HALF TUNNEL - DRAWING TC2-2
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

A SHIFT WILLOW ROAD TO THE WEST
CLEAR AND GRUB ALLOWANCE 67,000 SF 3.00 201,000

LIFT AND SET ASIDE RAILROAD TRACKS, REINSTALL

WITHIN TEMPORARY ROAD PAVEMENT
1 LS 100,000.00 100,000
DEMO JPB CORRIDOR FENCING 300 LF 25.00 7,500
DEMOLISH AND ROUGH GRADE NEW ROUTE 50,250 SF 5.00 251,250 NEW ROAD PAVEMENT, AC WITH AGGREGATE BASE 24,000 SF 14.00 336,000 CURBS/GUTTERS 3,840 LF 60.00 230,400
NEW TEMP. SIDEWALKS (BIKE/PED) 5,000 SF 10.00 50,000
RELOCATE LIGHT POLE 1 EA 25,000.00 25,000
UTILITIES ADJUST ALLOWANCE 1 LS 100,000.00 100,000
SIGNAGE 1 LS 25,000.00 25,000
STRIPING 24,000 SF 1.75 42,000

DEMO AND RESTORE AT COMPLETION, INCL NON

CALTRANS PROPERTY DISTURBED
67,000 SF 15.00 1,005,000
SUBTOTAL A - SHIFT WILLOW ROAD TO THE WEST 491.34 2,373,150

B ACCOMMODATE UTILITIES
NOTE: MOST UTILITIES IMPACTS AT TUNNEL ARE IN PH 2

PROTECT IN PLACE OR TEMPORARILY RE-ROUTE AND
LATER REINSTORE (E.) GAS LINE
100 LF 375.00 37,500

STORM WATER DRAIN - SEE ITEM E BELOW
SUBTOTAL B - ACCOMMODATE UTILITIES 7.76 37,500

C INSTALL SHORING
SECANT PILE SHORING, APPROX 342 LF ON PLAN:

MOBILIZATION 1 LS 150,000.00 150,000
GUIDE WALLS 342 LF 300.00 102,600
DRILLED PILES, CONCRETE, STEEL CASE (TEMP), 36" DIA,
3" OVERLAP, TYPICALLY 40' DEEP
128 EA 20,000.00 2,567,273
REINFORCING STEEL (MALE PIERS) 154,036 LB 2.25 346,582
SUBTOTAL C - INSTALL SHORING 655.58 3,166,455

ESTIMATE DETAIL
03/14/2022 Page 14 of 21 Page F-1.252

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 4,830 EAST HALF TUNNEL - DRAWING TC2-2
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

D UNDERPIN JPB TRACK

UNDERPIN SUPPORT STRUCTURE DURING THE WORKS,

WITH FOUNDATIONS, STEEL POSTS AND BRACES AS
NEEDED, APPROX 75 LF OF SINGLE TRACK, ALLOW
1,125 SF 300.00 337,500
REMOVE AND FULLY RESTORE AFTER, ALLOW 1,125 SF 75.00 84,375 SUBTOTAL D - UNDERPIN JPB TRACK 87.34 421,875

E EXCAVATE TUNNEL & INSTALL SD SIPHON
DEMO (E.) BUILDING 49 EXCLUDED

EXCAVATE TEMPORARY SOUTH RAMP TO ACCESS

TUNNEL ZONE, INCL OFFHAUL
2,083 CY 100.00 208,333
EXCAVATE FOR TUNNEL BOX, TO 25 FT, INCL OFFHAUL 4,806 CY 100.00 480,556 INSTALL BRACING (ONE LEVEL), ALLOW 106,260 LB 6.00 637,560

DEWATERING, ALLOW (NEED TO DETERMINE

OUTFALL/FEES IF APPLY)
1 LS 150,000.00 150,000

EXCAVATE TRENCH FOR STORM DRAIN CULVERT
SIPHON, APPROX. 80 LF X 15 LF, 8' DEEP
356 CY 80.00 28,444

INSTALL TEMPORARY STORM DRAIN BYPASS,

INCLUDING PUMP AND HOSE
1 LS 75,000.00 75,000
DEMOLISH AND REMOVE (E.) 78" DIA STORM DRAIN 80 LF 150.00 12,000

CONSTRUCT SIPHON CHAMBER BOTH ENDS AND
CONNECT TO (E.) SD
2 EA 65,000.00 130,000

INSTALL PRECAST CONCRETE MANHOLE/CLEANOUT AT
EACH END, APPROX 18' DEEP
2 EA 20,000.00 40,000

CURBS AND COVERS (INSTALLED WITHIN FINISHED

ROAD PAVEMENT)
2 EA 7,500.00 15,000
SUBTOTAL E - EXCAVATE TUNNEL & INSTALL SD SIPHON 367.89 1,776,893 03/14/2022 Page 15 of 21 Page F-1.253

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 4,830 EAST HALF TUNNEL - DRAWING TC2-2
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

F CONSTRUCT TUNNEL & REPLACE ROAD
CONSTRUCT DUAL SIPHON CULVERTS, 4'X5' 80 LF 550.00 44,000 TUNNEL BOX BASE SLAB, REINFORCED CONCRETE, 3'
THICK
4,830 SF 150.00 724,500
TUNNEL BOX WALLS, REINFORCED CONCRETE, 2' THICK,

ASSUME POUR AGAINST SECANT PILE SHORING, ONE

FACE FORMWORK, WITH FORM LINER
2,760 SF 150.00 414,000
TUNNEL BOX LID, REINFORCED CONCRETE, 3' THICK,

FORMED HIGH SUPPORT, POURED IN SECTIONS
4,830 SF 225.00 1,086,750
WATERPROOFING ENTIRE BOX 12,420 SF 30.00 372,600

BACKFILL, IMPORTED FILL, AT CULVERTS AND

MANHOLES, ALLOW
172 CY 100.00 17,222

LIGHTING ALLOWANCE, INCL CONDUIT & CABLING,

CONTROLS, TO UTILITY BOX WITH POC
4,370 SF 45.00 196,650
CUT BACK AND REMOVE TOP 5' OF SECANT SHORING,

INCL GUIDE WALLS
342 LF 166.67 57,000
BACKFILL ON TOP OF TUNNEL LID, APPROX 6' THICK,

IMPORTED FILL
1,073 CY 100.00 107,333

NEW ROAD PAVEMENT, AC WITH AGGREGATE BASE ON

TUNNEL LID (REINSTORE PAVEMENT WHERE TEMPORARY

ROADWAY DEMOLISHED, SEE ITEM A ABOVE)
2,415 SF 18.00 43,470
CURBS/GUTTERS 320 LF 60.00 19,200
NEW SIDEWALKS 160 SF 25.00 4,000
RELOCATE LIGHT POLE 1 EA 25,000.00 25,000
SIGNAGE 1 LS 15,000.00 15,000
STRIPING 2,415 SF 3.00 7,245
TRANSITIONS TO (E.) RETAINED ROADWAY 2 EA 15,000.00 30,000 SUBTOTAL F - CONSTRUCT TUNNEL & REPLACE ROAD 655.07 3,163,971

X GENERAL ITEMS

OTHER SITE SYSTEMS

GENERAL REQUIREMENTS, INCL TRAFFIC CONTROL,

SAFETY, CONTINUAL CLEANING, ALLOW
1 LS 2,500,000.00 2,500,000
SITE BOUNDARY FENCING 1,300 LF 75.00 97,500
NEW/TEMPORARY SIGNAGE, ALLOW 1 LS 100,000.00 100,000
SWPP, ALLOW 1 LS 100,000.00 100,000
MISCELLANEOUS WORKS, ALLOW 1 LS 2,000,000.00 2,000,000
SUBTOTAL X - GENERAL ITEMS 993.27 4,797,500
03/14/2022 Page 16 of 21 Page F-1.254

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 19,950 WEST HALF TUNNEL+NORTH RAMP - DRAWINGS TC2-3
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL
PHASE 2 WEST HALF TUNNEL+NORTH RAMP - DRAWINGS TC2-3
A SHIFT WILLOW ROAD TO THE EAST 103.11 2,057,074
B ACCOMMODATE UTILITIES: WEST TUNNEL 75.19 1,500,000
D INSTALL SHORING 184.98 3,690,273
E DEMOLISH SHORING WEST END OF EAST TUNNEL 2.49 49,583
F EXCAVATE TUNNEL 92.77 1,850,756
G CONSTRUCT TUNNEL & REPLACE ROAD 233.33 4,654,875
H ACCOMMODATE UTILITIES - NORTH RAMP 75.19 1,500,000
I EXCAVATE AND CONSTRUCT NORTH RAMP 165.93 3,310,378
X GENERAL ITEMS 420.11 8,381,250
TOTAL DIRECT 19,950 1,353.09 26,994,188

PRORATES
General Conditions 10.00% 2,699,419
Design Contingency 25.00% 6,748,547
Escalation EXCLUDED 0.00% -
SUBTOTAL 19,950 1,826.67 36,442,154
Bonds / Insurance 2.50% 911,054
Contractors Fee 5.50% 2,004,318
TOTAL CONSTRUCTION COSTS 19,950 1,972.81 39,357,526

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
03/14/2022 Page 17 of 21 Page F-1.255

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 19,950 WEST HALF TUNNEL+NORTH RAMP - DRAWINGS TC2-3
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

A SHIFT WILLOW ROAD TO THE EAST
CLEAR AND GRUB ALLOWANCE 60,000 SF 3.00 180,000

LIFT AND SET ASIDE RAILROAD TRACKS, REINSTALL

WITHIN TEMPORARY ROAD PAVEMENT
1 LS 100,000.00 100,000
DEMOLISH AND ROUGH GRADE NEW ROUTE 45,000 SF 5.00 225,000 NEW ROAD PAVEMENT, AC WITH AGGREGATE BASE 18,425 SF 14.00 257,950 CURBS/GUTTERS 2,948 LF 60.00 176,880
NEW TEMP. SIDEWALKS (BIKE/PED) 3,500 SF 10.00 35,000
RELOCATE LIGHT POLE 1 EA 25,000.00 25,000
UTILITIES ADJUST ALLOWANCE 1 LS 100,000.00 100,000
SIGNAGE 1 LS 25,000.00 25,000
STRIPING 18,425 SF 1.75 32,244

DEMO AND RESTORE AT COMPLETION, INCL NON

CALTRANS PROPERTY DISTURBED
60,000 SF 15.00 900,000
SUBTOTAL A - SHIFT WILLOW ROAD TO THE EAST 103.11 2,057,074 B ACCOMMODATE UTILITIES: WEST TUNNEL
NOTE: MOST UTILITIES IMPACTS AT TUNNEL ARE IN PH 2

PROTECT IN PLACE OR TEMPORARILY RE-ROUTE AND
LATER REINSTORE (E.) GAS LINE
100 LF IN PHASE 1
MAIN DEEP 78" STORM WATER DRAIN IN PHASE 1

ALL OTHER UTILITY RELOCATIONS/PROTECT IN PLACE,

INCLUDING GAS, JOINT TRENCH, SANITARY SEWER,

SANITARY SEWER FORCE MAIN, STORM DRAIN,
TLECOM, WATER, FIRE WATER. NO SIZES PROVIDED,

EXTENSIVE SCOPE, ALLOW
1 LS 1,500,000.00 1,500,000
SUBTOTAL B - ACCOMMODATE UTILITIES: WEST TUNNEL 75.19 1,500,000

C SHIFT FACEBOOK WAY TO THE NORTH
CLEAR AND GRUB ALLOWANCE 13,600 SF 3.00 40,800
DEMOLISH AND ROUGH GRADE NEW ROUTE 10,200 SF 5.00 51,000 NEW ROAD PAVEMENT, AC WITH AGGREGATE BASE 7,500 SF 14.00 105,000 CURBS/GUTTERS 1,200 LF 60.00 72,000
UTILITIES ADJUST ALLOWANCE 1 LS 35,000.00 35,000
SIGNAGE 1 LS 15,000.00 15,000
STRIPING 7,500 SF 1.75 13,125
DEMO AND RESTORE AT COMPLETION 13,600 SF 15.00 204,000
SUBTOTAL C - SHIFT FACEBOOK WAY TO THE NORTH 26.86 535,925

ESTIMATE DETAIL
03/14/2022 Page 18 of 21 Page F-1.256

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 19,950 WEST HALF TUNNEL+NORTH RAMP - DRAWINGS TC2-3
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

D INSTALL SHORING
SECANT PILE SHORING, APPROX 412 LF ON PLAN:

RELOCATE MOBILIZATION 1 LS 75,000.00 75,000
GUIDE WALLS 412 LF 300.00 123,600
DRILLED PILES, CONCRETE, STEEL CASE (TEMP), 36" DIA,
3" OVERLAP, TYPICALLY 40' DEEP
154 EA 20,000.00 3,076,364
REINFORCING STEEL (MALE PIERS) 184,582 LB 2.25 415,309
SUBTOTAL D - INSTALL SHORING 184.98 3,690,273

E DEMOLISH SHORING WEST END OF EAST TUNNEL

DEMOLISH AND REMOVE SECANT PILE SHORING
INSTALLED IN PHASE 1 (CROSS WALL ONLY)
117 CY 425.00 49,583

SUBTOTAL E - DEMOLISH SHORING WEST END OF EAST
TUNNEL 2.49 49,583

F EXCAVATE TUNNEL
EXCAVATE FOR TUNNEL BOX, TO 25 FT, INCL OFFHAUL 6,806 CY 100.00 680,556 INSTALL BRACING (ONE LEVEL), ALLOW 161,700 LB 6.00 970,200

DEWATERING, ALLOW (NEED TO DETERMINE

OUTFALL/FEES IF APPLY)
1 LS 200,000.00 200,000
SUBTOTAL F - EXCAVATE TUNNEL 92.77 1,850,756

G CONSTRUCT TUNNEL & REPLACE ROAD
TUNNEL BOX BASE SLAB, REINFORCED CONCRETE, 3'
THICK
7,350 SF 150.00 1,102,500
TUNNEL BOX WALLS, REINFORCED CONCRETE, 2' THICK,

ASSUME POUR AGAINST SECANT PILE SHORING, ONE

FACE FORMWORK, WITH FORM LINER
4,200 SF 150.00 630,000
TUNNEL BOX LID, REINFORCED CONCRETE, 3' THICK,

FORMED HIGH SUPPORT, POURED IN SECTIONS
7,350 SF 225.00 1,653,750
WATERPROOFING ENTIRE BOX 18,900 SF 30.00 567,000

LIGHTING ALLOWANCE, INCL CONDUIT & CABLING,

CONTROLS, TO UTILITY BOX WITH POC
6,650 SF 45.00 299,250
CUT BACK AND REMOVE TOP 5' OF SECANT SHORING,

INCL GUIDE WALLS
412 LF 166.67 68,667
03/14/2022 Page 19 of 21 Page F-1.257

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 19,950 WEST HALF TUNNEL+NORTH RAMP - DRAWINGS TC2-3
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
BACKFILL ON TOP OF TUNNEL LID, APPROX 6' THICK,

IMPORTED FILL
1,633 CY 100.00 163,333

NEW ROAD PAVEMENT, AC WITH AGGREGATE BASE ON

TUNNEL LID (REINSTORE PAVEMENT WHERE TEMPORARY

ROADWAY DEMOLISHED, SEE ITEM A ABOVE)
3,675 SF 18.00 66,150
CURBS/GUTTERS 320 LF 60.00 19,200
NEW SIDEWALKS 160 SF 25.00 4,000
RELOCATE LIGHT POLE 1 EA 25,000.00 25,000
SIGNAGE 1 LS 15,000.00 15,000
STRIPING 3,675 SF 3.00 11,025
TRANSITIONS TO (E.) RETAINED ROADWAY 2 EA 15,000.00 30,000 REINSTATE FACEBOOK WAY: SEE ITEM C ABOVE
SUBTOTAL G - CONSTRUCT TUNNEL & REPLACE ROAD 233.33 4,654,875

H ACCOMMODATE UTILITIES - NORTH RAMP

NORTH RAMP ZONE UTILITY RELOCATIONS/PROTECT IN

PLACE, INCLUDING ELECTRICAL, GAS, JOINT TRENCH,

SANITARY SEWER, SANITARY SEWER FORCE MAIN,
STORM DRAIN, TLECOM, WATER, FIRE WATER. NO SIZES

PROVIDED, EXTENSIVE SCOPE, ALLOW
1 LS 1,500,000.00 1,500,000
SUBTOTAL H - ACCOMMODATE UTILITIES - NORTH RAMP 75.19 1,500,000

I EXCAVATE AND CONSTRUCT NORTH RAMP
CLEAR AND GRUB ALLOWANCE 18,250 SF 3.00 54,750

DEMOLISH AND REMOVE SECANT PILE SHORING
INSTALLED IN PHASE 2 (CROSS WALL ONLY)
117 CY 425.00 49,583
EXCAVATE FOR NORTH RAMP, FROM 25 FT, INCL

OFFHAUL
7,758 CY 100.00 775,833
INSTALL RETAINING WALLS, INCL FOUNDATIONS 7,500 SF 190.00 1,425,000 BACKFILL, GRADING 2,586 CY 100.00 258,611
NEW ROAD PAVEMENT, AC WITH AGGREGATE BASE 12,600 SF 18.00 226,800 CURBS/GUTTERS 1,200 LF 60.00 72,000
NEW SIDEWALKS 600 SF 25.00 15,000
LIGHTING, ALLOW 12,600 SF 25.00 315,000
SIGNAGE 1 LS 50,000.00 50,000
STRIPING 12,600 SF 3.00 37,800
TRANSITIONS TO (E.) RETAINED ROADWAY 2 EA 15,000.00 30,000 SUBTOTAL I - EXCAVATE AND CONSTRUCT NORTH RAMP 165.93 3,310,378 03/14/2022 Page 20 of 21 Page F-1.258

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AWTR2
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - WILLOW TUNNEL ESTIMATE DATE: 3/14/2022 CIVIL AND STRUCTURAL ONLY, FULL TUNNEL, NO FINISH GSF: 19,950 WEST HALF TUNNEL+NORTH RAMP - DRAWINGS TC2-3
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

X GENERAL ITEMS

OTHER SITE SYSTEMS

GENERAL REQUIREMENTS, INCL TRAFFIC CONTROL,

SAFETY, CONTINUAL CLEANING, ALLOW
1 LS 3,000,000.00 3,000,000
SITE BOUNDARY FENCING 1,750 LF 75.00 131,250
NEW/TEMPORARY SIGNAGE, ALLOW 1 LS 100,000.00 100,000
SWPP, ALLOW 1 LS 150,000.00 150,000
WORKS RELATED TO MOVING/TEMPORARILY RELOCATING AND FINALLY REINSTATING ALL CONTROLS,

LIGHTS, SIGNALS, BARRIERS, ETC ASSOCIATED WITH

RAILROAD TRACKS ALLOW
1 LS 2,500,000.00 2,500,000
MISCELLANEOUS WORKS, ALLOW 1 LS 2,500,000.00 2,500,000
SUBTOTAL X - GENERAL ITEMS 420.11 8,381,250
03/14/2022 Page 21 of 21 Page F-1.259
201
ATTACHMENT #6:

MARCH 2022 CONSTRUCTION COST ESTIMATE – ELEVATED
PARK
Page F-1.260
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com

CONCEPT ESTIMATE - ELEVATED PARK

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)
LSA JOB NUMBER:

March 17, 2022

BY LELAND SAYLOR ASSOCIATES

MENLO PARK, CA
21-079AEPR1

PREPARED FOR

BAY AREA ECONOMICS (BAE)
Page F-1.261
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK ESTIMATE DATE: 3/17/2022

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 9
III COMMUNITY AMENITIES 12

ELEVATED PARK
IV EQUIVALENT AT-GRADE PARK 15

CONTENTS
03/17/2022 Page 2 of 20 Page F-1.262
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK ESTIMATE DATE: 3/17/2022

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
03/17/2022 Page 3 of 20 Page F-1.263

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/17/2022

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - ELEVATED PARK
NOTE: ROUGH ORDER OF MAGNITUDE ONLY

1.2 PROJECT DESCRIPTION OF ELEMENTS:

Construction Type:

Foundation Type:

Exterior Wall Type:

Roof Type:

Stories Below Grade:

Stories Above Grade:

Sitework:

Plumbing System:

Mechanical System:

Fire Protection System:

Electrical Service:

Special Construction:

Other Specialized Services:

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

This project is part of a much wider mixed use development. This study is for the proposed elevated park only and is prepared to allow reasonable cost allocation to specific project elements providing community amenities value, namely the elevated park use. Very little design definition is available.

The estimate establishes an equivalent at-grade park cost, and then adds for the elevated structure and the impacts of building above grade. This is essentially an elaborate roof-top park, but also carries the full cost of the structure normally attributed to the building. NOTE: This is rough order of magnitude only - it is strongly recommended that a more specific estimate be developed based on defined design parameters (especially for structural).

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK
None

PREFACE AND NOTES TO THE ESTIMATE

PROJECT SYNOPSIS
Steel framed structure
Assume piled foundations and pile caps
None, but tubular "wrap", mesh guardrail
None, open park
One
At grade sitework excluded
Drainage and irrigation only
None anticipated
None anticipated
Park lighting
03/17/2022 Page 4 of 20 Page F-1.264

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/17/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK

PREFACE AND NOTES TO THE ESTIMATE

1.4 CONTROL QUANTITIES:

THIS SECTION NOT USED - REFER TO ESTIMATE SECTIONS

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ......................... +25 to 100%
2 - 3 ......................... +10 to 25%
4 - 5 ......................... 0 to +10%
6 - 7 ......................... 0 to -10%
8 or more ......................... -10 to -20%

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.
03/17/2022 Page 5 of 20 Page F-1.265

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/17/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK

PREFACE AND NOTES TO THE ESTIMATE

4.0 4.1
DRAWINGS:

Architectural Control Package - Parcel 1, dated 09/07/21 Structural Package dated 03/19/2021
SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 5.0
GSF
ELEVATED PARK 85,055 PER DRAWINGS

6.0 6.1 MARKET WAGE RATES:

GROSS SQUARE FEET

ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

None
None

WAGE RATES
This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA
03/17/2022 Page 6 of 20 Page F-1.266

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/17/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK

PREFACE AND NOTES TO THE ESTIMATE

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 10.00%

7.2 DESIGN CONTINGENCY: 18.00%

7.3 ESCALATION: EXCLUDED 0.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%

PRORATE ADDITIONS TO THE ESTIMATE
An allowance of 0% has been included in this estimate for construction material & labor cost escalation up to the anticipated mid-point of construction, based on the following assumptions:

An allowance based on 10% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 18% of the construction costs subtotal has been included for Design Contingency.

NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

0.00%
No costs relating to project Remote Site are included in the price. 03/17/2022 Page 7 of 20 Page F-1.267

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/17/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK

PREFACE AND NOTES TO THE ESTIMATE

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 4.50%

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.

Owner Soft Costs
Refer Detailed estimates
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 4.5% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
No costs relating to Phasing is included in the price.

Design & soft Costs
Site Development & Landscaping
Legal Fees
Special Inspections
Escalation - All costs are current $
Demolition/Site acquisition & Prep
03/17/2022 Page 8 of 20 Page F-1.268
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK ESTIMATE DATE: 3/17/2022

SECTION II

SUMMARY OF THE ESTIMATE
03/17/2022 Page 9 of 20 Page F-1.269

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK DATE: 3/17/2022 SUMMARY OF THE ESTIMATE BASE DATE: 11/22/2021
$ROM COST-MODEL CONSTRUCTION COSTS

1.0 ELEVATED PARK 85,055 GSF 1,620.16 $ 137,802,755
ADJUST FOR MAY 2021 PRICING -3.00% $ (4,134,083)
TOTAL $ROM CONSTRUCTION COST, MAY 2021: $ 133,668,672

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 18.00%
Escalation EXCLUDED, ADJUST BACK TO
MAY 2021 BASE DATE, see above
Bonds / Insurance 2.50%
Contractors Fee 4.50%

CONCEPT ESTIMATE - ELEVATED PARK
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

SUMMARY OF THE ESTIMATE
03/17/2022 Page 10 of 20 Page F-1.270

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK DATE: 3/17/2022 SUMMARY OF THE ESTIMATE BASE DATE: 11/22/2021

CONCEPT ESTIMATE - ELEVATED PARK
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%- to 100% over the prices in this Estimate, depending on the size of the job. 03/17/2022 Page 11 of 20 Page F-1.271
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK ESTIMATE DATE: 3/17/2022

ELEVATED PARK

SECTION III

COMMUNITY AMENITIES
03/17/2022 Page 12 of 20 Page F-1.272

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK DATE: 3/17/2022 ELEVATED PARK GSF 85,055

ELEVATED PARK

1.0 EQUIVALENT AT-GRADE PARK 85,055 GSF 95.67 $ 8,137,431

2.0 ADD FOR ELEVATED STRUCTURE:

2.1 STRUCTURAL: VERY ROUGH ORDER OF

MAGNITUDE, PRE-DESIGN

2.1.1 FOUNDATIONS

2.1.1.1 MOBILIZATION 1 LS 150,000.00 $ 150,000

2.1.1.2 AUGER DRILLED PIERS, REINFORCED
CONCRETE, 72" DIA, 140' DEEP 96 EA 168,000.00 $ 16,128,000

2.1.1.2 REINFORCED CONCRETE PILE CAPS 4,393 CY 1,350.00 $ 5,930,500

2.1.2 STEEL SUPPORT STRUCTURE RAISING 30',

BRIDGE STRUCTURE, TOTAL DESIGN TONS PER
NARRATIVE PLUS 7.5% WASTE &

CONNECTIONS
1,505 TONS 8,000.00 $ 12,040,000

2.1.3 STEEL SUPPORT STRUCTURE RAISING 30', NON
BRIDGE STRUCTURE, 48 PSF PER NARRATIVE,
PLUS 10% WASTE & CONNECTIONS
1,810 TONS 5,500.00 $ 9,954,186
BRBF, ALLOW 10 PSF 343 TONS 5,500.00 $ 1,885,263

2.1.4 BASE PLATES/CONNECTIONS 60 EA 20,000.00 $ 1,200,000

2.1.5 LOCK UP/MOVEMENT JOINTS 1 LS 500,000.00 $ 500,000

2.1.6 AESS PREMIUM 905 TONS 4,000.00 $ 3,619,704

2.1.7 FIRE PROTECTION, INTUMESCENT 4,220 TONS 750.00 $ 3,164,834

2.1.8 METAL DECK AND LIGHTWEIGHT CONCRETE
SUSPENDED SLAB 68,555 SF 16.00 $ 1,096,880

2.2 VOLUME CREATION - SIDE WALLS 12,200 SF 50.00 $ 610,000

2.3 WATERPROOFING 85,055 SF 24.00 $ 2,041,320

2.4 FAÇADE "WRAP", TUBE GRID, AND ALLOW
METAL PANEL SYSTEM 114,192 SF 155.00 $ 17,699,760

2.5 MESH GUARDRAIL 2,584 LF 450.00 $ 1,162,800

2.6 PAINTING EXPOSED SURFACES 85,055 SF 5.00 $ 425,275

2.7 VERTICAL TRANSPORTATION - STAIRS AND
ELEVATOR COMPLETE 5 EA 1,000,000.00 $ 5,000,000

2.8 ENHANCED SIGNAGE & WAYFINDING 85,055 SF 1.25 $ 106,319

2.9 STRUCTURAL FILL/FOAM 4,725 CY 140.00 $ 661,539

2.10 ROOT BALL FOR TREES 205 EA 2,500.00 $ 512,500

2.11 ELEVATED DRAIN SYSTEM (SILVA) 38,267 GSF 60.00 $ 2,296,020

2.12 VERTICAL SERVICES FEEDS AND LEADERS 1 LS 500,000.00 $ 500,000

2.13 SERVICES DUCT BANK 1,220 LF 650.00 $ 793,000

CONCEPT ESTIMATE - ELEVATED PARK
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

SUMMARY OF THE ESTIMATE
03/17/2022 Page 13 of 20 Page F-1.273

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK DATE: 3/17/2022 ELEVATED PARK GSF 85,055

CONCEPT ESTIMATE - ELEVATED PARK
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

2.14 HOISTING/CRANEAGE 1 LS 2,500,000.00 $ 2,500,000

2.15 AT GRADE SITE DEVELOPMENT UNDER

ELEVATED PARK, ASSUMED BY OTHER

PROJECT(S)

EXCLUDED

2.16 MISC ITEMS 1 LS 2,500,000.00 $ 2,500,000
$ 100,615,329
PRORATES ADD 36.96% % $ 37,187,426
TOTAL $ROM CONSTRUCTION COSTS $ 137,802,755

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 18.00%
Escalation EXCLUDED, ADJUST BACK TO MAY
2021 BASE DATE, see above
Bonds / Insurance 2.50%
Contractors Fee 4.50%
Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%-to 100% over the prices in this Estimate, depending on the size of the job. 03/17/2022 Page 14 of 20 Page F-1.274
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079AEPR1 LOCATION: MENLO PARK, CA PREPARED BY: MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - ELEVATED PARK ESTIMATE DATE: 3/17/2022

SECTION IV

EQUIVALENT AT-GRADE PARK
03/17/2022 Page 15 of 20 Page F-1.275

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: ESTIMATE DATE: 3/17/2022
EQUIVALENT AT-GRADE PARK GSF: 85,055
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

G SITEWORK
G10 SITE PREPARATION 10.52 894,653
G20 SITE IMPROVEMENTS 70.32 5,980,646
G30 SITE CIVIL/MECHANICAL UTILITIES 5.59 475,275
G40 SITE ELECTRICAL UTILITES 5.72 486,858
G90 OTHER SITEWORK 3.53 300,000
SITEWORK TOTAL 95.67 8,137,431
TOTAL SITE & BUILDING 85,055 95.67 8,137,431

PRORATES
General Conditions 10.00% 813,743
Design Contingency 18.00% 1,464,738
Escalation EXCLUDED, ADJUST BACK TO MAY 2021 BASE
DATE, see above 0.00% -
SUBTOTAL 85,055 122.46 10,415,911
Bonds / Insurance 2.50% 260,398
Contractors Fee 4.50% 468,716
TOTAL PROJECT COSTS 85,055 131.03 11,145,025

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

ESTIMATE DETAIL

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK
03/17/2022 Page 16 of 20 Page F-1.276

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: ESTIMATE DATE: 3/17/2022
EQUIVALENT AT-GRADE PARK GSF: 85,055
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK
G10 SITE PREPARATION
G1010 SITE CLEARING

CLEAR AND GRUB ALLOWANCE INCLUDING MATURE
TREES AND STUMP: EXCLUDE, NOT APPLICABLE
SUBTOTAL G1010 - SITE CLEARING - -
G1020 SITE DEMOLITION AND RELOCATIONS
DEMO EXISTING BUILDING AND SITE: ASSUME NIC

POSSIBLE UNDERGROUND UTILITIES RELOCATION

ALLOWANCES
85,055 SF 3.00 255,165
SUBTOTAL G1020 - SITE DEMOLITION AND RELOCATIONS 3.00 255,165 G1030 SITE EARTHWORK
SOIL FOR SHRUB 3,887 CY 65.00 252,645
SOIL FOR TURF 276 CY 65.00 17,935
SOIL FOR GROUNDCOVER 288 CY 65.00 18,691
SOIL FOR OTHER AREAS 3,425 CY 65.00 222,633
GRADING/MOUNDING 85,055 SF 1.50 127,583
SUBTOTAL G1030 - SITE EARTHWORK 7.52 639,488
G2030 PEDESTRIAN PAVING

AGGREGATE BASE COURSES
BASE FOR PAVING, ALLOW 8" 982 CY 75.00 73,629
PLAZA PAVING 15,223 SF 35.00 532,805
MEANDERING PATH, APPROX 5' WIDE 6,100 SF 28.00 170,800
ELEVATED PLAZA 4,036 SF 42.00 169,512
CRESCENT PATH, APPROX 10' WIDE 13,800 SF 24.00 331,200

CIRCULAR PLAY SURFACE (ASSUMED) FOR PLAY

STRUCTURE
1,002 SF 40.00 40,080
SUBTOTAL G2030 - PEDESTRIAN PAVING 15.50 1,318,026
03/17/2022 Page 17 of 20 Page F-1.277

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: ESTIMATE DATE: 3/17/2022
EQUIVALENT AT-GRADE PARK GSF: 85,055
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK
G2040 SITE DEVELOPMENT
CHAIR 120 EA 350.00 42,000
ROUND TABLE 4' 30 EA 650.00 19,500

CENTRAL CIRCLE IN PICNIC PLAZA, ASSUMED TO BE

FOUNTAIN, PUMPS AND POWER
1 LS 50,000.00 50,000
PLAY CIRCLE/ HAMMOCK + PLAY STRUCTURE 7 EA 5,000.00 35,000 RECTANGULAR SEATS ASSUME CONCRETE (2'6"X2'6") 17 EA 750.00 12,750 TRASH AND RECYCLE BIN SET (ASSUMED) 15 EA 1,800.00 27,000 GLAZED GUARDRAIL 2,584 LF 600.00 1,550,400

SIGNAGE/WAYFINDING
SUBTOTAL G2040 - SITE DEVELOPMENT 20.42 1,736,650
G2050 LANDSCAPING
MAIN 72" BOX TREE AT CRESCENT 55 EA 2,500.00 137,500
OTHER TREES, ALLOW 150 EA 150 EA
15% 24" 23 EA 3,500.00 78,750
25% 48" 37 EA 4,500.00 164,250
60% 72" 90 EA 12,000.00 1,080,000
SOD AT OPEN GREEN 3,661 SF 5.00 18,305
15 GAL SHRUB 335 EA 450.00 150,750
1 GAL SHRUB 1,117 EA 45.00 50,265
TREE GRATES, ALLOW FOR ALL TREES PITS 204 EA 950.00 193,800

BIORETENTION
BIORETENTION, 3/L6.00 (REINFORCED CONCRETE
SLAB+WATERPROOFING, DRAINAGE AND PROTECTION
COMPOSITE, SOD+ GEOTEXTILE FABRIC, 3" MULCH
23,390 SF 31.50 736,785
3" MULCH AT OTHER AREAS 11,425 SF 2.50 28,563

IRRIGATION
DRIP IRRIGATION+TREE BUBBLERS 38,267 SF 7.50 287,003
SUBTOTAL G2050 - LANDSCAPING 34.40 2,925,970

70.32 5,980,646
03/17/2022 Page 18 of 20 Page F-1.278

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: ESTIMATE DATE: 3/17/2022
EQUIVALENT AT-GRADE PARK GSF: 85,055
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK
G30 SITE CIVIL/MECHANICAL UTILITIES
G3010 WATER SUPPLY
WATER SUPPLY 1 LS 50,000.00 50,000
SUBTOTAL G3010 - WATER SUPPLY 0.59 50,000
G3020 SANITARY SEWER
SUBTOTAL G3020 - SANITARY SEWER - -
G3030 STORM SEWER
DRAINAGE PROVISION 85,055 SF 5.00 425,275
SUBTOTAL G3030 - STORM SEWER 5.00 425,275
SUBTOTAL G30 - SITE CIVIL/MECHANICAL UTILITIES 5.59 475,275 G40 SITE ELECTRICAL UTILITES
G4010 ELECTRICAL DISTRIBUTION

SEE LIGHTING
SUBTOTAL G4010 - ELECTRICAL DISTRIBUTION - -
G4020 SITE LIGHTING
15' POLE LIGHTS AT 60' CENTERS 24 EA 4,500.00 108,000
BOLLARD LIGHTS AT MEANDERING PATH, ALLOW 20'

SPACING
62 EA 1,650.00 102,300
CONDUIT & CABLE 2,440 LF 18.00 43,920
PANEL/CONNECTIONS 1 LS 20,000.00 20,000
EMERGENCY LIGHTS 85,055 SF 1.00 85,055
SUBTOTAL G4020 - SITE LIGHTING 4.22 359,275
G4030 SITE COMMUNICATIONS & SECURITY
ROUGH IN INFRASTRUCTURE ALLOWANCE 85,055 SF 1.50 127,583 SUBTOTAL G4030 - SITE COMMUNICATIONS & SECURITY 1.50 127,583 03/17/2022 Page 19 of 20 Page F-1.279

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079AEPR1
LOCATION: PREPARED BY: MP
CLIENT: CHECKED BY: MP
DESCRIPTION: ESTIMATE DATE: 3/17/2022
EQUIVALENT AT-GRADE PARK GSF: 85,055
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - ELEVATED PARK
G4090 OTHER SITE ELECTRICAL UTILITIES

ASSUME NOT REQUIRED
SUBTOTAL G4090 - OTHER SITE ELECTRICAL UTILITIES - -
SUBTOTAL G40 - SITE ELECTRICAL UTILITES 5.72 486,858
G90 OTHER SITEWORK
G9090 OTHER SITE SYSTEMS
GENERAL REQUIREMENTS 1 LS 300,000.00 300,000
SUBTOTAL G9090 - OTHER SITE SYSTEMS 3.53 300,000
SUBTOTAL G90 - OTHER SITEWORK 3.53 300,000
03/17/2022 Page 20 of 20 Page F-1.280
222
ATTACHMENT #7:

MARCH 2022 CONSTRUCTION COST ESTIMATE – TOWN
SQUARE
Page F-1.281

CONCEPT ESTIMATE - TOWN SQUARE

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)

MENLO PARK, CA
LSA JOB NUMBER:
21-079ATSR1B
March 16, 2022

PREPARED FOR

BAY AREA ECONOMICS (BAE)

BY LELAND SAYLOR ASSOCIATES
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com
Page F-1.282
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ATSR1B LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 9
III COMMUNITY AMENITIES 12

CONCEPT ESTIMATE - TOWN SQUARE

CONTENTS
03/16/2022 Page 2 of 17 Page F-1.283
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ATSR1B LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
03/16/2022 Page 3 of 17 Page F-1.284

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/16/2022

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - TOWN SQUARE

1.2 PROJECT DESCRIPTION OF ELEMENTS:

At grade plaza/town square

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

1.4 CONTROL QUANTITIES:

THIS SECTION NOT USED - REFER TO ESTIMATE SECTIONS

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.

This project is part of a much wider mixed use development. This study is for the proposed elevated park only and is prepared to allow reasonable cost allocation to specific project elements providing community amenities value, namely the Town Square. The estimate is for open site areas only, no buildings or parking are included.

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - TOWN SQUARE

PREFACE AND NOTES TO THE ESTIMATE

PROJECT SYNOPSIS

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.
03/16/2022 Page 4 of 17 Page F-1.285

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/16/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - TOWN SQUARE

PREFACE AND NOTES TO THE ESTIMATE

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ......................... +25 to 100%
2 - 3 ......................... +10 to 25%
4 - 5 ......................... 0 to +10%
6 - 7 ......................... 0 to -10%
8 or more ......................... -10 to -20%

4.0 4.1
DRAWINGS:

Architectural Control Package - Parcel 1, Town Square, dated 09/07/21 SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
None
None
03/16/2022 Page 5 of 17 Page F-1.286

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/16/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - TOWN SQUARE

PREFACE AND NOTES TO THE ESTIMATE

5.0 GSF
CONCEPT ESTIMATE - TOWN SQUARE 72,746

6.0 6.1 MARKET WAGE RATES:

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 10.00%

7.2 DESIGN CONTINGENCY: 25.00%

PRORATE ADDITIONS TO THE ESTIMATE

WAGE RATES
This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA
NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

An allowance based on 10% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 25% of the construction costs subtotal has been included for Design Contingency.

GROSS SQUARE FEET
03/16/2022 Page 6 of 17 Page F-1.287

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/16/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - TOWN SQUARE

PREFACE AND NOTES TO THE ESTIMATE

7.3 ESCALATION: EXCLUDED -3.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 4.50%
An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.
-3.00%
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 4.5% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

No costs relating to Phasing is included in the price.

No costs relating to project Remote Site are included in the price.

An allowance of 0% has been included in this estimate for construction material & labor cost escalation up to the anticipated mid-point of construction, based on the following assumptions:
03/16/2022 Page 7 of 17 Page F-1.288

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 3/16/2022

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - TOWN SQUARE

PREFACE AND NOTES TO THE ESTIMATE

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

Legal Fees
Special Inspections
Escalation - All costs are current $
Demolition/Site acquisition & Prep, except where itemized Owner Soft Costs
Refer Detailed estimates
Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
Design & soft Costs
03/16/2022 Page 8 of 17 Page F-1.289
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ATSR1B LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022

SECTION II

SUMMARY OF THE ESTIMATE
03/16/2022 Page 9 of 17 Page F-1.290

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079ATSR1B LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE DATE: 3/16/2022 SUMMARY OF THE ESTIMATE BASE DATE: 11/23/2021

1.0 CONCEPT ESTIMATE - TOWN SQUARE 72,746 GSF 213.31 $ 15,517,431 (RECONCILE ADJUSTED)

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions 10.00%
Design Contingency 25.00%
Escalation EXCLUDED, Backdate to
Applicant pricing, May 2021
-3.00%
Bonds / Insurance 2.50%
Contractors Fee 4.50%

RECONCILIATION
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

SUMMARY OF THE ESTIMATE
03/16/2022 Page 10 of 17 Page F-1.291

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079ATSR1B LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE DATE: 3/16/2022 SUMMARY OF THE ESTIMATE BASE DATE: 11/23/2021

RECONCILIATION
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%- to 100% over the prices in this Estimate, depending on the size of the job. 03/16/2022 Page 11 of 17 Page F-1.292
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ATSR1B LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022

CONCEPT ESTIMATE - TOWN SQUARE

SECTION III

COMMUNITY AMENITIES
03/16/2022 Page 12 of 17 Page F-1.293

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022 OPEN SITE PLAZA ONLY, NO BUILDINGS OR PARKING GSF: 72,746 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

G SITEWORK
G10 SITE PREPARATION 21.33 1,551,852
G20 SITE IMPROVEMENTS 94.34 6,862,497
G30 SITE CIVIL/MECHANICAL UTILITIES 4.99 362,792
G40 SITE ELECTRICAL UTILITES 21.09 1,534,428
G90 OTHER SITEWORK 9.28 675,000
SITEWORK TOTAL 151.03 10,986,569
TOTAL SITE & BUILDING 72,746 151.03 10,986,569

PRORATES
General Conditions 10.00% 1,098,657
Design Contingency 25.00% 2,746,642
Escalation EXCLUDED, Backdate to Applicant pricing,
May 2021 -3.00% (329,597)
SUBTOTAL 72,746 199.35 14,502,272
Bonds / Insurance 2.50% 362,557
Contractors Fee 4.50% 652,602
TOTAL PROJECT COSTS 72,746 213.31 15,517,431

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

RECONCILIATION

ESTIMATE DETAIL

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
03/16/2022 Page 13 of 17 Page F-1.294

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022 OPEN SITE PLAZA ONLY, NO BUILDINGS OR PARKING GSF: 72,746 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

RECONCILIATION

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
G10 SITE PREPARATION
G1010 SITE CLEARING
CLEAR AND GRUB ALLOWANCE 11,328 SF 3.00 33,985
DEMO MATURE TREES AND STUMP 21 EA 850.00 17,850
SUBTOTAL G1010 - SITE CLEARING 0.71 51,835
G1020 SITE DEMOLITION AND RELOCATIONS
DEMO EXST BUILDING 24,841 SF 20.00 496,820

DEMO ALLOWANCE FOR EXST SITE DEMO, PARKING LOT,

HARDSCAPE
45,314 SF 4.00 181,254
SUBTOTAL G1020 - SITE DEMOLITION AND RELOCATIONS 9.32 678,074 G1030 SITE EARTHWORK
GRADING, ROUGH & FINE 72,746 SF 2.00 145,492

GENERAL IMPORTED FILL ALLOWANCE FOR RAISED
GRADES (EXST 10' TO 13.5')
9,430 CY 65.00 612,952
SWPP
JOB SITE FENCE (SILT FENCE & FIBER ROLL) 1,458 LF 35.00 51,030 EXIT DOOR FOR SILT FENCE, TEMPORARY 7 EA 300.00 2,100
INLET PROTECTION FOR SLOT DRAIN 580 LF 12.00 6,960
INLET PROTECTION, CATCH BASIN 2 EA 350.00 700
STABILIZED CONST ENTRANCE 677 SF 4.00 2,708
SUBTOTAL G1030 - SITE EARTHWORK 11.30 821,942
G2030 PEDESTRIAN PAVING

AGGREGATE BASE COURSE
BASE FOR PAVING, ALLOW 8" 1,660 CY 75.00 124,480
BASE FOR SYNTH TURF, ALLOW 6" 80 CY 75.00 6,024
CONCRETE PAVERS 67,898 SF 35.00 2,376,430
PRECAST STEPS 600 LF 110.00 66,000
FEATURE ZONES/ENHANCEMENTS 1 LS 150,000.00 150,000
SUBTOTAL G2030 - PEDESTRIAN PAVING 37.43 2,722,933
03/16/2022 Page 14 of 17 Page F-1.295

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022 OPEN SITE PLAZA ONLY, NO BUILDINGS OR PARKING GSF: 72,746 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

RECONCILIATION

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
G2040 SITE DEVELOPMENT
ROUND TABLE 4' 81 EA 650.00 52,650
CONCRETE CIRCULAR SEATING, 8' FT ROUND 22 CY 1,250.00 27,778 CONCRETE SEATING BENCH 3' X 21' 4 EA 7,500.00 30,000
RECTANGULAR BOLLARD INCLUDING FOUNDATION 5 EA 1,250.00 6,250 ALLOWANCE FOR RETAIL SHORT TERM BICYCLE PARKING 1 EA 3,900.00 3,900 SECURITY BOLLARD 2 EA 950.00 1,900
3' WIDE CONCRETE SEATING, CURBED 521 LF 183.33 95,517

ADA INCLINED BRIDGE TO ELEVATED PARK, ALLOW EXCLUDED

ELEVATOR & PLATFORM FOR BRIDGE EXCLUDED
SIGNAGE/WAYFINDING 72,746 SF 1.50 109,119
TRELLIS, ALLOW 11,750 SF 150.00 1,762,500
MISC SITE IMPROVEMENTS, ALLOW 72,746 SF 12.00 872,952
TRASH AND RECYCLE BIN SET 7 EA 1,800.00 12,600
SUBTOTAL G2040 - SITE DEVELOPMENT 40.90 2,975,165
G2050 LANDSCAPING
BIORETENTION AREA, SILVA CELLS (QTY PER APP) 2,510 SF 60.00 150,600 IMPORTED SOIL 643 CY 65.00 41,764

LANDSCAPE AREA, SHRUB, GROUND COVER AND
GRASS, 1 GAL+5 GAL+15 GAL, SMALL AREAS
4,337 SF 30.00 130,110
15 GAL VINE-BARBARA KARST 15 EA 500.00 7,500
60" BOX TREES, SPECIALTY, BUDGET 26 EA 15,000.00 390,000 48" BOX TREES 30 EA 4,500.00 135,000
TREE GRATES 43 EA 4,000.00 172,000
LANDSCAPE MAINTENANCE 12 MO 5,000.00 60,000
6" FIRE ACCESS LANE REFLECTORS @ 10' OC 29 EA 85.00 2,465

IRRIGATION
IRRIGATION CONTROLLER 1 EA 1,500.00 1,500
IRRIGATION LATERALS AND CONTROL WIRE 2,071 LF 25.00 51,775 IRRIGATION HEADS AND BUBBLERS 4,337 SF 5.00 21,685
SUBTOTAL G2050 - LANDSCAPING 16.01 1,164,399
SUBTOTAL G20 - SITE IMPROVEMENTS 94.34 6,862,497
03/16/2022 Page 15 of 17 Page F-1.296

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022 OPEN SITE PLAZA ONLY, NO BUILDINGS OR PARKING GSF: 72,746 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

RECONCILIATION

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
G30 SITE CIVIL/MECHANICAL UTILITIES
G3010 WATER SUPPLY

DOMESTIC WATER
3" DOMESTIC WATER 94 LF 92.00 8,648
3" BACKFLOW PREVENTER 1 EA 5,500.00 5,500
POC TO E WATER LINE+3" GV 1 EA 645.00 645
WATER METER 1 EA 600.00 600
POC TO BUILDING 1 EA 645.00 645

FIRE WATER
POC TO E FIRE LINE+ 6" GV 1 EA 645.00 645
4" FIRE WATER LINE 89 LF 120.00 10,680
FIRE LINE POC TO BUILDING 1 EA 750.00 750
SUBTOTAL G3010 - WATER SUPPLY 0.39 28,113
G3020 SANITARY SEWER
SEWER LINE 54 LF 85.00 4,590
CLEANOUTS 1 EA 625.00 625
BUILDING POC TO SEWER LINE 1 EA 675.00 675
POC TO SS STUB 1 EA 675.00 675
SUBTOTAL G3020 - SANITARY SEWER 0.09 6,565
G3030 STORM SEWER
15" STORM DRAIN 46 LF 205.00 9,430
12" STORM DRAIN 229 LF 155.00 35,495
8" STORM DRAIN 41 LF 92.00 3,772
STORM DRAIN MANHOLE 2 EA 7,500.00 15,000
STORM DRAIN CATCH BASIN 2 EA 650.00 1,300
SD POC TO SILVA CELLS 2 EA 675.00 1,350
SD POC TO EXST MANHOLE 1 EA 675.00 675
SLOT DRAIN 578 LF 200.00 115,600
SUBTOTAL G3030 - STORM SEWER 2.51 182,622
G3070 OTHER SITE MECHANICAL UTILITIES

POSSIBLE UNDERGROUND UTILITIES RELOCATION

ALLOWANCES
72,746 SF 2.00 145,492
SUBTOTAL G3070 - OTHER SITE MECHANICAL UTILITIES 2.00 145,492 SUBTOTAL G30 - SITE CIVIL/MECHANICAL UTILITIES 4.99 362,792 03/16/2022 Page 16 of 17 Page F-1.297

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079ATSR1B
LOCATION: PREPARED BY: SJ, MP
CLIENT: CHECKED BY: MP
DESCRIPTION: CONCEPT ESTIMATE - TOWN SQUARE ESTIMATE DATE: 3/16/2022 OPEN SITE PLAZA ONLY, NO BUILDINGS OR PARKING GSF: 72,746 ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

RECONCILIATION

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)
G40 SITE ELECTRICAL UTILITES
G4010 ELECTRICAL DISTRIBUTION

POINT OF CONNECTION, CONVENIENCE POWER,

CONDUIT, CABLE, ALLOW
1 LS 100,000.00 100,000
SUBTOTAL G4010 - ELECTRICAL DISTRIBUTION 1.37 100,000
G4020 SITE LIGHTING
SITE LIGHTING ALLOWANCE 72,746 SF 18.00 1,309,428
SUBTOTAL G4020 - SITE LIGHTING 18.00 1,309,428
G4030 SITE COMMUNICATIONS & SECURITY
CAMERAS, IT, ALLOW 1 LS 125,000.00 125,000
SUBTOTAL G4030 - SITE COMMUNICATIONS & SECURITY 1.72 125,000 G4090 OTHER SITE ELECTRICAL UTILITIES
SEE G3070
SUBTOTAL G4090 - OTHER SITE ELECTRICAL UTILITIES - -
SUBTOTAL G40 - SITE ELECTRICAL UTILITES 21.09 1,534,428 G90 OTHER SITEWORK
G9090 OTHER SITE SYSTEMS
GENERAL REQUIREMENTS, ALLOW 1 LS 425,000.00 425,000

INTEGRATION WITH BUILDINGS AND OTHER ELEMENTS,
ALLOW
1 LS 250,000.00 250,000
SUBTOTAL G9090 - OTHER SITE SYSTEMS 9.28 675,000
SUBTOTAL G90 - OTHER SITEWORK 9.28 675,000
03/16/2022 Page 17 of 17 Page F-1.298
240
ATTACHMENT #8:

NOVEMBER 2021 CONCEPT ESTIMATE – DOG PARK
Page F-1.299
1777 Oakland Blvd, Ste 103 | Walnut Creek | CA | 94596
415-291-3200 | 415-291-3201 (f) | www.lelandsaylor.com

CONCEPT ESTIMATE - DOG PARK

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES
(FACEBOOK)
LSA JOB NUMBER:

November 23, 2021

BY LELAND SAYLOR ASSOCIATES

MENLO PARK, CA
21-079ADP

PREPARED FOR

BAY AREA ECONOMICS (BAE)

DRAFT FOR REVIEW
Page F-1.300
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ADP LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) BID DATE:

DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 11/23/2021

SECTION DESCRIPTION PAGE
I PREFACE AND NOTES TO THE ESTIMATE 3
II SUMMARY OF THE ESTIMATE 9
III COMMUNITY AMENITIES 12

CONCEPT ESTIMATE - DOG PARK

CONTENTS
11/23/2021 Page 2 of 16 Page F-1.301
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ADP LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 11/23/2021

SECTION I

PREFACE AND NOTES TO THE ESTIMATE
11/23/2021 Page 3 of 16 Page F-1.302

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ADP
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/23/2021

1.0 1.1 TYPE OF STUDY:

CONCEPT ESTIMATE - DOG PARK

1.2 PROJECT DESCRIPTION OF ELEMENTS:

At grade dedicated, enclosed space, for exercising pets

1.3 GENERAL NOTES REGARDING PROJECT / BASIS OF ESTIMATE / EXECUTIVE SUMMARY:

1.4 CONTROL QUANTITIES:

THIS SECTION NOT USED - REFER TO ESTIMATE SECTIONS

2.0 2.1 ESTIMATE OF COST:

2.2 BID:

PROJECT SYNOPSIS

DEFINITIONS
An Estimate of Cost is prepared from a survey of the quantities of work; items prepared from written or drawn information provided at the "PHASE", working drawing or bid-documents stage of the design. Historical costs, information provided by contractors and suppliers, plus judgmental evaluation by the Estimator are used as appropriate as the basis for pricing. Allowances as appropriate will be included for items of work which are not indicated on the design documents provided that the Estimator is made aware of them, or which, in the judgment of the Estimator, are required for completion of the work. We cannot, however, be responsible for items or work of an unusual nature of which we have not been informed.

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - DOG PARK

PREFACE AND NOTES TO THE ESTIMATE
An offer to enter a contract to perform work for a fixed sum, to be completed within a limited period of time.

This project is part of a much wider mixed use development. This study is for the proposed Dog Park only and is prepared to allow reasonable cost allocation to specific project elements providing community amenities value, namely the Dog Park. The estimate is for open site areas only, no buildings or parking are included.
11/23/2021 Page 4 of 16 Page F-1.303

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ADP
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/23/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - DOG PARK

PREFACE AND NOTES TO THE ESTIMATE

3.0 3.1 MARKET CONDITIONS:

Number Percentage
of Bids Differential
1 ........................ +25 to 100%
2 - 3 ........................ +10 to 25%
4 - 5 ........................ 0 to +10%
6 - 7 ........................ 0 to -10%
8 or more ........................ -10 to -20%

4.0 4.1
DRAWINGS:

Masterplan Conditional Development Permit, September 7, 2021, G5.13 SPECIFICATIONS / PROJECT MANUAL:

COSTS PROVIDED BY OTHERS:

4.2 ESTIMATE DOCUMENTS
The user is cautioned that significant changes in the scope of the project, or alterations to the project documents after completion of the estimate level or job type can cause major cost changes.

This Estimate has been compiled from the following documents and information supplied:

Accordingly, it is extremely important to ensure that a minimum of 4 to 5 valid bids are received.

Since we have no control over the bid process, there is no guarantee that proposals, bids or construction cost will not vary from our opinions or our estimates. Please see Competitive Bidding Statement in the estimate detail section for more information.

In the current market conditions for construction, our experience shows the following results on competitive bids, as a differential from company final estimates:

BIDS & CONTRACTS
None
None
11/23/2021 Page 5 of 16 Page F-1.304

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ADP
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/23/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - DOG PARK

PREFACE AND NOTES TO THE ESTIMATE

5.0 GSF
CONCEPT ESTIMATE - DOG PARK 8,084

6.0 6.1 MARKET WAGE RATES:

7.0 7.1 GENERAL CONDITIONS / GENERAL REQUIREMENTS: 20.00%

7.2 DESIGN CONTINGENCY: 25.00%

GROSS SQUARE FEET

PRORATE ADDITIONS TO THE ESTIMATE

WAGE RATES
This Estimate is based on prevailing wage-rates and conditions currently applicable in Menlo Park, CA
NOTE: This allowance is intended to provide a Design Contingency sum only; for use during the design process. It is not intended to provide for a Construction Contingency sum.

An allowance based on 20% of the construction costs subtotal has been included for Contractor's General Conditions and General Requirements.

An allowance based on 25% of the construction costs subtotal has been included for Design Contingency.
11/23/2021 Page 6 of 16 Page F-1.305

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ADP
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/23/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - DOG PARK

PREFACE AND NOTES TO THE ESTIMATE

7.3 ESCALATION: EXCLUDED 0.00%

NONE ALLOWED
Construction start date:

Construction period:

Mid-point of construction:

Annual escalation rate:

Allowance for escalation:

No allowance has been made for Code Escalation or Technological Escalation.

7.4 REMOTE SITE FACTOR: 0.00%

7.5 PHASING ALLOWANCE: 0.00%

7.6 BONDS AND INSURANCE: 2.50%

7.7 CONTRACTOR'S FEE: 6.75%
An allowance of 0% has been included in this estimate for construction material & labor cost escalation up to the anticipated mid-point of construction, based on the following assumptions:

0.00%
All field overhead of the contractor is included in the General Conditions section of the estimate.

An allowance based on 6.75% of the construction cost subtotal is included for the Contractor's office Overhead and Profit. Office overhead of the contractor is always included with the fee.

No costs relating to Phasing is included in the price.

No costs relating to project Remote Site are included in the price.

An allowance of 2.5% of the construction cost subtotal is included to provide for the cost of Payment and Performance Bonds, if required.
11/23/2021 Page 7 of 16 Page F-1.306

LELAND SAYLOR ASSOCIATES
PROJECT: JOB NUMBER: 21-079ADP
LOCATION: PREPARED BY: SJ, MP
CLIENT: BID DATE:

DESCRIPTION: ESTIMATE DATE: 11/23/2021

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

MENLO PARK, CA

BAY AREA ECONOMICS (BAE)

CONCEPT ESTIMATE - DOG PARK

PREFACE AND NOTES TO THE ESTIMATE

8.0 8.1 SPECIFIC INCLUSIONS:

The following items are specifically included in this estimate:

8.2 SPECIFIC EXCLUSIONS:

The following items are specifically excluded from this estimate:

Owner Soft Costs
Refer Detailed estimates
Program/Construction Management

SPECIAL NOTES PERTAINING TO THIS ESTIMATE
Design & soft Costs
Legal Fees
Special Inspections
Escalation - All costs are current $
Demolition/Site acquisition & Prep, except where itemized 11/23/2021 Page 8 of 16 Page F-1.307
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ADP LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 11/23/2021

SECTION II

SUMMARY OF THE ESTIMATE
11/23/2021 Page 9 of 16 Page F-1.308

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079ADP LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK DATE: 11/23/2021 SUMMARY OF THE ESTIMATE SITE AREA: 8,084

1.0 CONCEPT ESTIMATE - DOG PARK 8,084 GSF 130.94 $ 1,058,510

PRORATES ARE INCLUDED IN ABOVE FIGURES
General Conditions - Small Project 20.00%
Design Contingency 25.00%
Escalation EXCLUDED
Bonds / Insurance 2.50%
Contractors Fee - Small Project 6.75%

CONCEPT ESTIMATE - DOG PARK
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

SUMMARY OF THE ESTIMATE
11/23/2021 Page 10 of 16 Page F-1.309

LELAND SAYLOR ASSOCIATES
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) LSA JOB NO: 21-079ADP LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK DATE: 11/23/2021 SUMMARY OF THE ESTIMATE SITE AREA: 8,084

CONCEPT ESTIMATE - DOG PARK
DIV # DESCRIPTION QTY UNIT UNIT COST TOTALS

We urge you to notify your client of the existing bidding climate, and work with them to ensure that the project is adequately publicized so that they can get the minimum number of bids for competitive bidding. Please contact us if you need ideas about how to publicize your project.

Competitive Bidding
The prices in this Estimate are based on Competitive Bidding. Competitive Bidding is receiving responsive bids from at least five (5) or more General Contractors and three (3) or more responsive bids from Major Subcontractors or Trades. Major Subcontractors are Structural Steel, Plaster / EIFS Contractors, Mechanical, Plumbing and Electrical Subcontractors.

Without Competitive Bidding, Contractor bids can and have ranged from 25%- to 100% over the prices in this Estimate, depending on the size of the job. 11/23/2021 Page 11 of 16 Page F-1.310
PROJECT: MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK) JOB NUMBER: 21-079ADP LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 11/23/2021

CONCEPT ESTIMATE - DOG PARK

SECTION III

COMMUNITY AMENITIES
11/23/2021 Page 12 of 16 Page F-1.311

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079A
LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 10/28/2021 GSF: 8,084
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

G SITEWORK
G10 SITE PREPARATION 14.79 119,565
G20 SITE IMPROVEMENTS 37.59 303,870
G30 SITE CIVIL/MECHANICAL UTILITIES 4.86 39,252
G40 SITE ELECTRICAL UTILITES 21.71 175,512
G90 OTHER SITEWORK 3.71 30,000
SITEWORK TOTAL 82.66 668,199
TOTAL SITE & BUILDING 8,084 82.66 668,199

PRORATES
General Conditions - Small Project 20.00% 133,640
Design Contingency 25.00% 167,050
Escalation EXCLUDED 0.00% -
SUBTOTAL 8,084 119.85 968,888
Bonds / Insurance 2.50% 24,222
Contractors Fee - Small Project 6.75% 65,400
TOTAL PROJECT COSTS 8,084 130.94 1,058,510

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE

ESTIMATE DETAIL
11/23/2021 Page 13 of 16 Page F-1.312

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079A
LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 10/28/2021 GSF: 8,084
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE
G10 SITE PREPARATION
G1010 SITE CLEARING

CLEAR AND GRUB ALLOWANCE INCLUDING MATURE
TREES
5,659 SF 3.00 16,976
SUBTOTAL G1010 - SITE CLEARING 2.10 16,976
G1020 SITE DEMOLITION AND RELOCATIONS
ALLOWANCE FOR EXST SITE DEMO, PARKING LOT 8,084 SF 5.00 40,420

POSSIBLE UNDERGROUND UTILITIES RELOCATION

ALLOWANCES
1 LS 5,000.00 5,000
SUBTOTAL G1020 - SITE DEMOLITION AND RELOCATIONS 5.62 45,420 G1030 SITE EARTHWORK
EXCAVATE AND HAUL, ALLOW 3', FOR PAVING ONLY 200 CY 85.00 16,972 BACKFILL 132 CY 55.00 7,248
GRADING ALLOWANCE FOR GRAVEL AND TURF 5,983 SF 3.00 17,949 SWPP
ALLOW 1 LS 15,000.00 15,000
SUBTOTAL G1030 - SITE EARTHWORK 7.07 57,169
SUBTOTAL G10 - SITE PREPARATION 14.79 119,565
G20 SITE IMPROVEMENTS
G2030 PEDESTRIAN PAVING

AGGREGATE BASE COURSE
BASE FOR PAVING, ALLOW 8" 44 CY 65.00 2,855
BASE FOR SYNTH TURF, ALLOW 6" 12 CY 65.00 797
COLORED CONCRETE @ SEATING AREA 1,072 SF 28.00 30,016
ASSUMED PAVERS IN MEDIUM/LARGE DOG AREA 725 SF 32.00 23,200 SUBTOTAL G2030 - PEDESTRIAN PAVING 7.03 56,868
11/23/2021 Page 14 of 16 Page F-1.313

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079A
LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 10/28/2021 GSF: 8,084
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE
G2040 SITE DEVELOPMENT
POROUS GRAVEL @ MEDIUM/LARGE DOG AREA 3,160 SF 5.25 16,590 5' TO 7' BOULDERS 6 EA 1,200.00 7,200
5' BENCHES AT SEATING AREA 5 EA 1,200.00 6,000
3' CONCRETE SEATS IN M/L DOG AREA (EAST CORNER,

ASSUMED)
6 EA 1,150.00 6,900
CLIMBING LOGS 3 EA 1,200.00 3,600
TRASH AND RECYCLE BIN SET 3 EA 1,800.00 5,400

FENCES AND GATES
4' HIGH PERIMETER FENCE AROUND SMALL MEDIUM

AND LARGE DOG AREA
630 LF 190.00 119,700
ENTRY GATES 2 EA 1,500.00 3,000
SUBTOTAL G2040 - SITE DEVELOPMENT 20.83 168,390
G2050 LANDSCAPING
14' ROUND RAISED TREE PLANTERS INCLUDING SOIL 2 EA 7,333.33 14,667 CANOPY TREE 12 EA 1,800.00 21,600
PLANTING AREA/ TURF 2,161 SF 8.00 17,288
SYNTHETIC TURF @ SMALL DOG AREA 662 SF 8.00 5,296
IRRIGATION ALLOWANCE 2,823 SF 7.00 19,761
SUBTOTAL G2050 - LANDSCAPING 9.72 78,612
SUBTOTAL G20 - SITE IMPROVEMENTS 37.59 303,870
G30 SITE CIVIL/MECHANICAL UTILITIES
G3010 WATER SUPPLY
PROVIDE WATER CONNECTION, ALLOW 1 LS 15,000.00 15,000
SUBTOTAL G3010 - WATER SUPPLY 1.86 15,000
G3030 STORM SEWER
STORM DRAINAGE ALLOWANCE 8,084 SF 3.00 24,252
SUBTOTAL G3030 - STORM SEWER 3.00 24,252
SUBTOTAL G30 - SITE CIVIL/MECHANICAL UTILITIES 4.86 39,252 11/23/2021 Page 15 of 16 Page F-1.314

LELAND SAYLOR ASSOCIATES
PROJECT: LSA JOB NO: 21-079A
LOCATION: MENLO PARK, CA PREPARED BY: SJ, MP
CLIENT: BAY AREA ECONOMICS (BAE) CHECKED BY: MP, BSS
DESCRIPTION: CONCEPT ESTIMATE - DOG PARK ESTIMATE DATE: 10/28/2021 GSF: 8,084
ITEM # DESCRIPTION QUANTITY UNIT UNIT COST TOTAL

MENLO PARK WILLOW VILLAGE COMMUNITY AMENITIES (FACEBOOK)

CONCEPT ESTIMATE
G40 SITE ELECTRICAL UTILITES
G4010 ELECTRICAL DISTRIBUTION

POINT OF CONNECTION, CONVENIENCE POWER,

CONDUIT, CABLE, ALLOW
1 LS 20,000.00 20,000
SUBTOTAL G4010 - ELECTRICAL DISTRIBUTION 2.47 20,000
G4020 SITE LIGHTING
SITE LIGHTING ALLOWANCE 8,084 SF 18.00 145,512
SUBTOTAL G4020 - SITE LIGHTING 18.00 145,512
G4030 SITE COMMUNICATIONS & SECURITY
CAMERAS, IT, ALLOW 1 LS 10,000.00 10,000
SUBTOTAL G4030 - SITE COMMUNICATIONS & SECURITY 1.24 10,000 SUBTOTAL G40 - SITE ELECTRICAL UTILITES 21.71 175,512
G90 OTHER SITEWORK
G9090 OTHER SITE SYSTEMS
GENERAL REQUIREMENTS, ALLOW 1 LS 30,000.00 30,000
SUBTOTAL G9090 - OTHER SITE SYSTEMS 3.71 30,000
SUBTOTAL G90 - OTHER SITEWORK 3.71 30,000
11/23/2021 Page 16 of 16 Page F-1.315
City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org City Council
SPECIAL MEETING MINUTES – DRAFT
Date: 4/19/2022
Time: 5:00 p.m.

Location: Zoom
Special Session
A. Call To Order
Mayor Nash called the meeting to order at 5:07 p.m.

B. Roll Call

Present: Combs, Mueller, Nash, Taylor, Wolosin

Absent: None
Staff: Interim City Manager Justin I.C. Murphy, City Attorney Nira F. Doherty, City Clerk Judi A. Herren
C. Closed Session
C1. Closed session conference with labor negotiators pursuant to Government Code §54957.6 regarding labor negotiations with the American Federation of State, County, and Municipal Employees Local 829 (AFSCME) and Confidential employees; and Menlo Park Police Sergeants (PSA) Attendees: Interim City Manager Justin Murphy, City Attorney Nira F. Doherty, Legal Counsel Charles Sakai, Interim Human Resources Manager Kristen Strubbe Mayor Nash adjourned to the closed session at 5:10 p.m.

Mayor Nash reconvened the meeting at 6:27 p.m.

D. Report from Closed Session
No reportable actions.

E. Special Business
E1. Interviews of Planning Commission applicants (Attachment) (Note: No action will be taken at this meeting. Appointments are scheduled for the April 26, 2022 City Council meeting.)
The City Council interviewed the following Planning Commission applicants:

Michael Meyer
Michael DeMoss
Camille Kennedy
Linh Dan Do
David Thomas
The City Council took a recess at 7:26 p.m.

AGENDA ITEM G-1 Page G-1.1
City of Menlo Park 701 Laurel St., Menlo Park, CA 94025 tel 650-330-6600 www.menlopark.org City Council Special Meeting Minutes – DRAFT
April 19, 2022