Example Pro Forma <strong>for</strong> Martial Cottle AgPark DevelopmentAgPark AssumptionsAgPark Development Pro FormaSite Data:Development Costs:Land in Ag Production 175 acres Total Hard Costs $ 1,707,500Number of Ag Production Parcels 15 parcels Soft Costs:Average Acreage of Ag Park Parcel 12 acres Design/Architectural 6% $ 102,450Land in Pasture 75 acres Fees/Permits 2% $ 34,150Central Activity Zone (house, visitor center, garden, 9 acres Acct/Legal 3% $ 51,225lawn, gazebo) Development Mgt 10% $ 170,750Paths/Trails, Unpaved Roads 15 acres Total Development Costs $ 2,066,075Linear Feet - Paths, Unpaved Roads580,000 linear ft.Park & Picnic Areas 9 acres Annual Revenues:Paved Roads & Parking 7 acres Ag Leases ($ per acre) $ 500 $ 87,500Total Size 290 acres Pasture Land ($ per acre) $ 100 $ 7,500Event Rentals ($ per event) (a) $ 3,000 $ 60,000Building Development: Revenue - Restaurant Lease/Mkt Stand $ 35,000Rehab Existing House - Event Rentals 7,500 sq. ft. Other Revenue (c) $ 2.50 $ 25,000Shared Barn 3,000 sq. ft. Subtotal Revenue $ 215,000Shared Equipment Storage1,000 sq. ft.Cooperative Market Stand & Restaurant 2,500 sq. ft. Operating Expenses:Management Staff $ 70,000Hard Costs - AgPark Improvement: Utilities ($ per month) $ 750 $ 9,000Grading & Landscaping $ 50,000 Maintenance ($ per month) $ 2,000 $ 24,000Irrigation System $ 100,000 Training/Education $ 1,000 $ 12,000Paths/Trails, Unpaved Roads ($ per linear ft) $ 0.50 $ 290,000 Security $ 1,200 $ 14,400Paved Roads & Parking ($ per acre) $ 65,000 $ 455,000 Subtotal Op Expenses $ 129,400Park & Picnic Areas ($ per acre) $ 10,000 $ 90,000Rehab Existing House ($ per sf) $ 35 $ 262,500 Cash Available <strong>for</strong> Debt Service $ 85,600Shared Barn ($ per sf) $ 40 $ 120,000 Supportable Debt Service $1,315,882Shared Equipment Storage ($ per sf) $ 40 $ 40,000Cooperative Market Stand & Restaurant ($ per sf) $ 120 $ 300,000 Gap Requiring Grant Funding/Other Support $ 750,193Total Hard Costs $ 1,707,500Notes:Visitor Fees (per visitor) $ 2.50Number of Visitors per year 10,000Interest Payment on Debt5% per year(assumes simple annual interest, 30 years)DRAFT 1.6.05 40
ConclusionThis property has great potential to be a viable urban agricultural park.Opportunities:• Martial Cottle Park offers the rare opportunity of available farmland, within amajor city’s limits, yet protected from the market value of urban land.• SCCPRD is an enthusiastic partner.• The site has been in agriculture and has some existing infrastructure that wouldmake the transition to multiple new agricultural tenants relatively smooth.Challenges:• Location in high-income urban area presents a potential challenge to farmerswho might relocate from elsewhere. One way to counter this challenge is toseek out new and immigrant farmers who may already reside in San Jose.• Overhead costs <strong>for</strong> development and management of the AgPark will drop afterthe first 5 or 6 years, but initial costs are high.DRAFT 1.6.05 41
- Page 1 and 2: DRAFTURBAN EDGEAGRICULTURAL PARKSFE
- Page 3 and 4: EXECUTIVE SUMMARYOverview of AgPark
- Page 5: Farmworker Housing on the Rural/Urb
- Page 10 and 11: seeking to develop effective collab
- Page 12: INTRODUCTIONHistory of Collective F
- Page 15 and 16: Contemporary Models of Agricultural
- Page 17 and 18: accommodations, value-added product
- Page 19 and 20: 45%, from 5,347 in 1997 to 7,771 in
- Page 21 and 22: information about each site include
- Page 23 and 24: undertaken. It may be best to furth
- Page 25 and 26: IDENTIFICATION OF POTENTIAL AGPARK
- Page 27 and 28: SONOMA COUNTYLaguna Farm 80-acre 3
- Page 29 and 30: The above examples reflect a range
- Page 31 and 32: MARTIAL COTTLE PARK FEASIBILITY STU
- Page 33 and 34: Median household income in the neig
- Page 35 and 36: • Relationship to surrounding nei
- Page 37 and 38: • Education/Research Center: 4-H,
- Page 39 and 40: Management and DevelopmentRole of S
- Page 41: Beyond the capital costs for the in
- Page 45 and 46: Ardenwood Historic Farm is the rema
- Page 47 and 48: • Establish Ardenwood as a vibran
- Page 49 and 50: These ideas complement and build on
- Page 51 and 52: • Farmer Housing: None proposed.
- Page 53 and 54: ConclusionsThis project identified
- Page 55 and 56: Appendix A: Overview of Ag Park Mod
- Page 57 and 58: The National Trust(England, Wales,N
- Page 59 and 60: Crystal Waters Village(Malaney, pop
- Page 61 and 62: McBryde AgriculturalPark (Kauai, HI
- Page 63 and 64: Farm worker Housing on Rural/Urban
- Page 65 and 66: Occidental Arts& EcologyCenter(Occi
- Page 67 and 68: The FarmSchool (Athol,MA)Privatelyo
- Page 69 and 70: To ensure conservation in perpetuit
- Page 71 and 72: King County FarmlandPreservation Pr
- Page 73 and 74: development.Economics/Sources of Fu
- Page 75 and 76: In 2001, the Trust advanced a susta
- Page 77 and 78: LandThe cooperatives have sought la
- Page 79 and 80: ALBA’s Farm Training andResearch
- Page 81 and 82: • “ALBA Organics” distributio
- Page 83 and 84: in addition to herbs, flowers, and
- Page 85 and 86: APPENDIX C: FUNDING SOURCES FOR AGP
- Page 87 and 88: Public Support for FarmlandPreserva
- Page 89 and 90: transactions. Transaction types wil
- Page 91 and 92: Affordable Rural Housing Grant andL
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farm" program, established farmers
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Appendix D: Producer Survey Instrum
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12. Would you be interested and wil
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Feasibility Study for Urban Edge Ag
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Site BLocationFremont, adjacent to