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TABLE 1 ESTIMATED CONSTRUCTION COSTS FRANCIS XAVIER RESIDENCE SANTA ANA, CALIFORNIA I. Direct Costs Site Improvements Residential Building Costs Furnishings, Fixtures & Equipment Contractor Fees / General Requirements General Liability Insurance / Contt Bonds Contingency Allowance Total Direct Costs II. Indirect Costs Architecture, Engineering & Consulting Permits & Fees Taxes, Ins., Legal & Accounting Marketing & Leasing Developer Fee Contingency Allowance Total Indirect Costs III. Financing Costs Interest During Construction Financing Fees Construction Loan Capitalized Reserves Operating Reserve NPLH Transition Reserve Total Financing Costs 1 IN 15,000 Sf Land 14,321 Sf GBA 12.0% Construction Costs 2.0% Construction Costs 20.0% Other Direct Costs 14,321 Sf GBA $2S /Sf Land $375,000 $220 /Sf GBA 3,151,000 50,000 423,000 71,000 814,000 $341 /Sf GBA $4,884,000 7.0% Direct Costs 17 Units $31,353 /Unit 3.0% Direct Costs 17 Units $882 /Unit 3 7% Net Construction Costs 10.0% Other Indirects 4 s $3,493,000 Loan Amount $3,493,000 Loan Amount S.OS% Interest 1.00 Point 4 Months Operating Expenses & Debt Svc Pmts $342,000 533,000 147,000 15,000 442,000 148,000 $1,627,000 $235,000 35,000 60,000 57,000 $387,000 IV. JTotal Development Costs 17 Units $405,800 /Unit $6,898,000 1 Estimates assume prevailing wage requirements will not be imposed on the Project. 2 Based on Developer estimate. The estimate should be verified by City staff. 3 Per Developer. Net construction costs equate to the total construction costs less the developer fee. 4 Based on a 20-month construction period with a 60% average outstanding balance; and a 4-month absorption period with a 100% average outstanding balance. 5 Based on Developer estimate. Prepared by: Ke rGftyAGOURdtiates, Inc. 16 - 66 12/7/2021 Filename: Francis Xavier Residence PF_8 27 21.x1sm; Pro Formaw 3 PBV; trb 1 of 12