Staffing costs: Costs to hire the SVCDC’s leader and staff, to establish governance and business processes, perform assessments, create strategy, and establish relationships–assuming an initial phase of 2 years, the estimated costs are $500,000-750,000.

Program costs: The SVCDC may consider directly raising funds to acquire properties, e.g. to establish LLCs for banking land to facilitate affordable and workforce housing development.  In that case, a process to establish LLCs to hold funds would be needed and the SVCDC would need to identify investors and donors to raise the funds to acquire property and help to pay property taxes, unless those taxes could be waived by the County/State to facilitate development of affordable and workforce housing.  The costs of acquisition will be dictated by the strategy developed, but would likely be >$25M as an estimate for the start-up and initial 5-yr strategy implementation.