Download Please clicke here to look at the presenation of the proposed plan

Zahra Center
at
1061 Serpentine Lane,
Pleasanton, California
ICZ’s need to buy
Year 2012 rent expected at $72,000
 Building costs low, 12 times the rent
 Current facilities inadequate
 Need to become self-sustaining
 Bay Area Commercial property
market heading in Seller’s favor

March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
2
Selection Criteria
•
•
•
•
•
•
•
10 miles radius of I-580/I-680
Approx. 7,000 of one-level space
Two large halls for Masjid & Majalis
5 to 8 rooms for Sunday School
Conference Room & Assembly Hall
Adequate restroom and parking facility
Fast-track Conditional Use Permit
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
3
Option checking …

Buildings closer to Freeway and the
Stoneridge area
• Mostly multi-storied buildings
• Higher building cost




Hopyard / Dublin Bl. in Dublin
Castro Valley at SR238/I-580
Sunol / Livermore agri-land option
Hayward, San Leandro, San Ramon
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
4
What are we getting into ?
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
5
What
are we
getting
into ?
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
6
What are we getting into ?
•
•
•
•
•
Clean, partially refurbished building
7,200 sq.ft. total space
1,600 sq.ft. designated for Men’s hall
1,400 sq.ft. for Women’s hall
3,700 sq.ft. for JIS Sunday School /
Sakina Day Care Center (SDC)
• Office space for ICZ, JIS, and SDC
• C.U.P. possible in six weeks
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
7
What are we getting into ?
Suite H
Planned JIC School Assembly / Day Care Play Pen
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
8
What are we getting into ?
Suite H
Planned JIC School Assembly / Day Care Play Pen
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
9
What are we getting into ?
Suite A
Currently rented; Planned ICZ Women’s Reception
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
10
What are we getting into ?
Suite H
Currently rented; Planned ICZ Women’s Hall
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
11
What are we getting into ?
Suite A-1
Currently rented; Planned ICZ Women’s Hall
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
12
What are we getting into ?
Suite A-1
Currently rented; Planned ICZ Women’s Reception
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
13
What are we getting into ?
Suite A
Currently rented; Hallway and Restroom 1 of 3
March 11, 2012
ICZ - 1061 Serpentine Lane
Property Presentation
14
Financial Status Check

Cost Approx. $1,025,000
Building price $930,000, plus closing costs
 Building modification $50K to $75K

Main hall, 1600 sq.ft., HVAC, Fire Code
 2 office spaces – merge into one hall


ICZ’s bank deposit - $235K
 ICZ
needs, within 2 months -
$790,000
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
15
Financing Resources

Donations


Loans


Charitable donations & 510(c)(3)
Interest free loan vs. Qarze Hasna
Investments
A number of persons jointly “invest” in a
separate business entity ABC.
 ABC and ICZ will own the property in
partnership in ratio of their respective shares

March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
16
“Investment” explained

Example
ICZ receives $200K in donations
 ICZ pays $400K; ABC invests $600K
 Property is bought in partneship for $1M
 ICZ’s partnership share 40%; ABC 60%
 ICZ “rents” ABC’s 60% share @ $0.50psf
 MCC pays $1.50 psf for 1249 Quarry Lane
 60% share = 4,320 sf, i.e. rent = $2,160
 ICZ’s 1st month payments: $4,000 in refund of
principal, plus rent = $4000+$2160 = $6,160.
 Monthly Rent lowers as ICZ ownership goes up

March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
17
Investors’ rights are limited


An "investor" has a right to DEMAND and COLLECT:
 "Rent" on his share of property.
 Full payment of the balance of investment if ICZ ceases
operation with subsequent sale of the property; or a pro-rata share
of whatever remains if the property goes into a foreclosure of
property - which may occur, for example, pursuant to a court
action from Business Park Association for non-payment of dues.
An investor will have no right to:
 Use property other than by ICZ's specific authorization thereof.
ONLY ICZ has a right to use the property.
 Demand refund of his investment prior to or outside of the
"Agreed Upon" or "Contracted" payment schedule.
 Demand foreclosure of property unless ICZ is delinquent in its
payments for more than “Contractually Permitted" max. period.
 Demand any "pre-payment penalty" if ICZ pays off the investor's
funds ahead of the "Agreed Upon" period.
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
18
“Rent” explained

Allows well-wishers to give larger sums

Motivates ICZ to return the Investments faster

Eliminates turning a loan, given in the form of
investment, turn into Qarze Hasna

An Investor may opt to return part or all of the
“Rent” to ICZ, or let ICZ withhold it at source
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
19
ICZ operating financials
at 40% property ownership

1st Month Payment to Investors at their 60% ownership of
the property ~ $6,200



Income potential




Business Park Association fees and other expenses ~ $2K
Total approximately $8,200 per month.
JIS School = $1,000
Sakina Day Care Center = $3,000
Total ~ $4,000
To be raised from ongoing donations

$4,200 per month
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
20
Recognition

ICZ plans to recognize its Donors, Lenders, and
Investors by two means: (1) Name halls and areas
after a name of their choice; and (2) Recognize their
names on ICZ Wall of Recognition. Priority derives
from amount pledged, then time of pledge.





(1)
(2)
$100,000 and above:
$50,000 and above:
$25,000 and above:
$10,000 and above:
$5,000 to $9,999:
First 3 Ansaars – 2 Main halls; Reception Area
First 2 Ansaars – Conference room; Library.
First 7 Ansaars – Classrooms, Assembly Room
All – A “paver” on ICZ Wall of Recognition (1)
All – A “brick” on ICZ Wall of Recognition
It is desired that the Wall be erected at the Main Entrance. Note that
different from the past, there will be NO SHOE RACKS (2) at the Main
Entrance. Instead, the plan is to have a proper Reception.
Shoe racks are planned to be located behind the restrooms.
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
21
Recognition


Pavers
on ICZ Wall of Recognition

Size 8″ x 8″ x 2 1/4

$10,000 and above

All
Bricks
on ICZ Wall of Recognition

Size 4″ x 8″ x 2 1/4
$5,000 to $9,999

All

March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
22
DO MAKE IT HAPPEN !

ICZ needs to close on the building within 3 months
– by Ramadan

ICZ expects to pay back the entire amount in about
8.5 years, or sooner

DONATE, GIVE LOAN, GIVE ‫خمس‬
(KHUMS), OR INVEST. YOUR
MONETARY HELP IS REQUIRED
TODAY
March 11, 2012
ICZ - 1061 Serpentine Lane Property
Presentation
23