Programs to lessen the burden of government- transferring the benefits generated by government and 501c3 real estate activities from private developers back to where they belong: to government agencies, taxpayers and local charitable endeavors.
The Life Foundation actively pursues the purchase and/or development of facilities leased to the governmental and charitable agencies to significantly lower agency facility costs and to use the income generated by these facilities to support local charitable endeavors that compliment agency objectives. To that end the Foundation has developed several programs:
The purchase of facilities leased to government and/or 501c3 agencies by private owners.
The Foundation will purchase facilities leased to government and or 501c3 entities and provide the entities with a wide array of benefits, including all or a combination of some of the following- significant rent reductions; generous tenant improvement allowances; renewal options at free or very low base rent (where the agency is only responsible for operating and capital expenses); equity participation from the sale proceeds at the end of the lease (or before if the agency wants to leave early); and ownership. (With all net income from the project used to support local charitable endeavors that compliment what the agency tenant is trying to accomplish)
The purchase of facilities leased to government agencies by private owners with multiple tenants
The Foundation will purchase facilities leased in part to government agencies and use the other tenants in the facility to subsidize the cost of the facility for the government agency. This can provide several benefits in addition to those set forth in the first scenario, including, but not limited to, additional significant rent savings; free or significantly reduced options to lease space that becomes available; and partial or total ownership at the end of the lease term (with a significant percentage of the cost of ownership paid for by the other tenants). (With all net income from the project used to support local charitable endeavors that compliment what the agency tenant is trying to accomplish)
The Foundation will purchase facilities owned by the government and/or 501c3 and lease them back to the agency. This will provide funds to address budgetary shortfalls or other requirements. The agency will have the option to repurchase the facility as conditions warrant, when it desires. (With all net income from the project used to support local charitable endeavors that compliment what the agency tenant is trying to accomplish)
Urban redevelopment programs.
The Foundation will develop essential government facilities and use adjacent development to subsidize the cost of the facility for the agency. For example, the Foundation can develop a new Civic Center and an adjacent retail/residential project using the income generated from the retail/residential project to not only subsidize the Civic Center but also generate income for local charitable endeavors.
Distribution of income to charitable endeavors.
The Foundation will consult the governmental and/or charitable agency in establishing charitable support priorities and in creating a local Advisory Board consisting of community leaders to help determine what charitable organizations are making a real difference for those in need. These efforts can be used to significantly lessen the burden of government by addressing areas of particular concern for the agency occupying the facility.