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DEVELOPER FIRM FOUNDATION, INC. PROJECTED TO MAKE $1.1 - 2.7 MILLION DOLLARS FROM VALLEJO PROJECT. HOW MUCH WILL THEY MAKE IN LIVERMORE?
Background: Firm Foundation (the builder, ran by Pastor Jake Medcalf) is the builder that is proposing to build the 16 tiny houses at Asbury Church in Livermore. They have also applied for funding for a project in Vallejo (who is currently being sued in a lawsuit by the city of American Canyon). We have located their HomeKey application for their Vallejo project via public records, and the projected profits are highly disturbing. It's a clear example of the homeless industrial complex running wild.
See their Vallejo application link and screenshots showing the projected profit, below.
Background: Firm Foundation (the builder, ran by Pastor Jake Medcalf) is the builder that is proposing to build the 16 tiny houses at Asbury Church in Livermore. They have also applied for funding for a project in Vallejo (who is currently being sued in a lawsuit by the city of American Canyon). We have located their HomeKey application for their Vallejo project via public records, and the projected profits are highly disturbing. It's a clear example of the homeless industrial complex running wild.
See their Vallejo application link and screenshots showing the projected profit, below.
Full application seen here: https://www.myvallejo.com/16156/widgets/49620/documents/31469
Analysis: It appears to be a joint venture between Vallejo, Firm Foundation, and Shelter, Inc. Page #17 lists the profit that this project would generate. It seems that profit is listed (was added to the total, twice) in two separate line items: (1) under "New Construction" listed as "Contractor Profit" ($300,000.00), and (2) under "Developer Costs" it is also listed as "Developer Overhead/Profit ($800,000.00)." In addition to the listed profit, and knowing how construction estimates are formulated, I’m assuming that the other costs are marked up a minimum of 20% gross margin for subcontractors (as is typically done in construction, usually between 30 - 50%). This would indicate a gross profit of $1,953,121.60. So, I'd say at a minimum, this project would generate gross profit of a minimum of $1.1 million, and a maximum $2.7 million dollars from this 8-month project for the developer. But wait, I thought these guys were a non-profit, doing work out of the goodness of their hearts to help the homeless?!?!
OVERALL COST
Goodness Village has spent or secured over $9 MILLION DOLLARS of your taxpayer money! It cost over $3 million to build, and Senator Glazer secured an additional $5 million dollars of funding, and US Rep Swalwell secured an additional $1 million dollars. Where does it end?
For 28 tiny houses? That's $321,428.00 per tiny house? Seems extremely expensive!
Here's the proof:
$3 MILLION to build: https://www.danvillesanramon.com/blogs/p/2020/09/17/goodness-village-coming-to-crosswinds-church-in-livermore
$5 MILLION in additional funding: https://sd07.senate.ca.gov/sites/sd07.senate.ca.gov/files/e_update/20221019_SD07_Update_788.htm?utm_campaign=steve-glazer-senator-glazers-fall-newsletter&utm_medium=email&utm_source=Update&utm_content=link
$1MILLION in funding: https://pleasantonweekly.com/news/2022/07/28/news-digest-reach-fundraiser--6m-for-goodness-village--night-market-is-back
Perhaps, we should be spending 75% on drug treatment and mental health treatment, and 25% on housing. Not vice versa! Let's treat the problems, and not create slush funds and excessive governmental waste of taxpayer dollars that only enrich the developer and property manager.
This is a giant cash grab, and a clear abuse of public taxpayer dollars!
Goodness Village has spent or secured over $9 MILLION DOLLARS of your taxpayer money! It cost over $3 million to build, and Senator Glazer secured an additional $5 million dollars of funding, and US Rep Swalwell secured an additional $1 million dollars. Where does it end?
For 28 tiny houses? That's $321,428.00 per tiny house? Seems extremely expensive!
Here's the proof:
$3 MILLION to build: https://www.danvillesanramon.com/blogs/p/2020/09/17/goodness-village-coming-to-crosswinds-church-in-livermore
$5 MILLION in additional funding: https://sd07.senate.ca.gov/sites/sd07.senate.ca.gov/files/e_update/20221019_SD07_Update_788.htm?utm_campaign=steve-glazer-senator-glazers-fall-newsletter&utm_medium=email&utm_source=Update&utm_content=link
$1MILLION in funding: https://pleasantonweekly.com/news/2022/07/28/news-digest-reach-fundraiser--6m-for-goodness-village--night-market-is-back
Perhaps, we should be spending 75% on drug treatment and mental health treatment, and 25% on housing. Not vice versa! Let's treat the problems, and not create slush funds and excessive governmental waste of taxpayer dollars that only enrich the developer and property manager.
This is a giant cash grab, and a clear abuse of public taxpayer dollars!
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