Laserfiche WebLink
TABLE 3 <br />FINANCIAL GAP CALCULATION <br />FRANCIS XAVIER RESIDENCE <br />SANTA ANA, CALIFORNIA <br />I. Available Funding Sources 1 <br />NPLH 2 <br />SNHP 2 <br />OCHTF 2 <br />Wells Fargo Contribution 3 <br />Deferred Developer Fee 3 <br />Developer Fundraising / In -Kind Contributions 3 <br />Previously Committed Housing Authority Funds 4 <br />Total Available Funding Sources <br />II. Financial Gap Calculation <br />Total Available Funding Sources <br />(Less) Total Construction Costs <br />8 NPLH Units $19S,37S /NPLH Unit $1,563,000 <br />13 SNHP Units $1S7,462 /SNHP Unit $2,047,000 <br />$832,000 <br />$25,000 <br />16% Total Developer Fee $70,000 <br />$704,000 <br />$1,070,000 <br />$6,311,000 <br />(6,898,000) <br />$6,311,000 <br />III. lAdditional Financial Surplus / (Financial Gap) 17 Units ($34,500) /Unit ($587,000) <br />1 The maximum permanent loan supported by the Project's NOI is estimated at $138,000. This assumes a fully amortized 1S-year term. However, given <br />the added restrictions imposed by permanent lenders, KMA recommends that projects avoid taking out permanent loans less than $S00,000. <br />2 Based on award documentation <br />3 Based on Developer estimate. <br />4 Per City award letter. <br />Prepared by: Ke rGityAGOURdtiates, Inc. 1 6 - 68 12/7/2021 <br />Filename: Francis Xavier Residence PF_8 27 21.x1sm; Pro Formaw 3 PBV; trb 3 of 12 <br />