80A - PH RFP AFFORDABLE HOUSING DEV

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EXHIBIT 1 Provide a breakdown of the project's indirect costs such as: o Architecture, engineering and consulting fees; o Public permits and fees costs including all city fees, school district fees, impact fees and any other fees that would be assessed on the projects; o Taxes, legal and accounting costs; o Insurance costs; o Marketing costs; o Development management fee; and o Indirect cost contingency allowance. Provide the following financing cost information: o Predevelopment/bridge loans (loan amounts, interest rates, length of term and projected average outstanding balance of loan funds during predevelopment/construction); o Construction loans (loan amounts, interest rates, length of term and projected average outstanding balance of loan funds during predevelopment/construction); o Loan fees; o Amount of cash equity contribution and the return requirement on these funds during the construction period; o Capitalized reserves; and o Tax Credit Allocation Committee (TCAC) costs (if applicable). Net Operating Income. Provide the following net operating income information: o Residential Rents. o Estimated market rents by unit type (provide a market study if available). o Affordable rents by unit type, affordability restriction and net of applicable utility allowances. o Number of managers' units — are these rent -paying units? o Projected retail rents. o Parking: • Will parking charges be applied to the parking required for the rental units? • Will parking charges be applied to the parking required to serve the retail uses? o Operating Expenses: • Residential: • General operating expenses; • Property taxes; and • Annual capital and operating reserve contributions. o Unreimbursed retail expenses. o Parking expenses. • Financial Parameters o Low income housing tax credits (if applicable): • Provide eligible basis, gross and net tax credit proceeds calculations. • Provide the self -scoring sheet for the 9% TCAC or CDLAC applications. Explain why the project does not receive the maximum points. • Provide the tiebreaker calculation for 9% TCAC projects. o Equity contribution: o Quantify the equity contribution to be provided with cash during construction, and the amount of cash equity that will be left in the project on a permanent basis. o Identify the funding source that will be used to refund any construction period equity that is to be returned to the developer upon the completion of construction. o Define the preferred return requirements applied to the cash equity funds that will remain in the project over time. o Describe the other proposed governmental subsidies (AHP, MHP, City of Santa Ana, etc.). City of Santa Ana Community Development Agency Request for Proposals for Affordable Housing Development Page 80A 115