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AAV MII:1k0J
<br />Summary
<br />Project Name FX Residences
<br />Summary NPLH/SNHP/PBV
<br />Scope
<br />Units
<br />17
<br />Residential SF
<br />8,975
<br />Circulation
<br />Common Space
<br />5,346
<br />Total SF
<br />14,321
<br />Site
<br />Gross Area- Acres
<br />0.34
<br />Gross Area- SF
<br />15,000
<br />Lot Coverage
<br />56%
<br />Footprint
<br />8,382
<br />Parking Spaces
<br />12
<br />Parking- SF
<br />2,623
<br />Parkin Spaces/Unit
<br />0.71
<br />Zoning
<br />Zoning- current
<br />UN7
<br />Zoning- proposed
<br />UN-2
<br />Allowable Density
<br />Density Bonus
<br />Max. Density with Bonus
<br />Max. Units
<br />0
<br />Froposed Density
<br />49.4
<br />Financing assumes 8 units assisted with NPLH capital and
<br />COSR, 13 units assisted with SNHP capital and 4 units
<br />assisted with SNHP COSR, and 3 PBV units.
<br />Unit Mix
<br />Units
<br />Percentage
<br />Studio
<br />0
<br />0%
<br />113D
<br />17
<br />100%
<br />2BD
<br />0%
<br />3BD
<br />0
<br />0%
<br />Total
<br />17
<br />100%
<br />Affordability Units Percentage
<br />25%AMI
<br />9
<br />44%
<br />30%AMI
<br />7
<br />44%
<br />50%AMI
<br />0
<br />0%
<br />60%AMI
<br />0
<br />0%
<br />Total
<br />16
<br />100%
<br />Average Affordability
<br />27.2% AMI
<br />Avera e Rent
<br />$ 249
<br />Net Rent Range Low High
<br />Studio
<br />113D $ 249 $ 249
<br />2BD
<br />3BD
<br />Summary of Costs
<br />Total
<br />Per Unit
<br />Per SF
<br />% of TDC
<br />Land Costs
<br />$
<br />788,000
<br />$ 46,353
<br />$ 55
<br />10%
<br />Hard Costs
<br />$
<br />4,932,174
<br />$ 290,128
<br />$ 344
<br />64%
<br />Soft Costs
<br />$
<br />1,524,621
<br />$ 89,684
<br />$ 106
<br />20%
<br />Developer Fee
<br />$
<br />442,000
<br />$ 26,000
<br />$ 31
<br />6%
<br />Total Development Costs
<br />$
<br />7,686,795
<br />$ 452,164
<br />$ 537
<br />Development Costs
<br />Total
<br />Per Unit
<br />Per SF
<br />% of TDC
<br />Land & Acquisition
<br />$
<br />788,000
<br />$ 46,353
<br />$ 55
<br />10%
<br />Construction
<br />$
<br />4,932,174
<br />$ 290,128
<br />$ 344
<br />64%
<br />Local Fees
<br />$
<br />533,000
<br />$ 31,353
<br />$ 37
<br />7%
<br />Financing Costs
<br />$
<br />328,997
<br />$ 19,353
<br />$ 23
<br />4%
<br />Soft Costs
<br />$
<br />544,790
<br />$ 32,046
<br />$ 38
<br />7%
<br />Developer Fee
<br />$
<br />442,000
<br />$ 26,000
<br />$ 31
<br />6%
<br />Reserves
<br />$
<br />117,834
<br />$ 6,931
<br />$ 8
<br />20/ ,
<br />Total
<br />$
<br />7,686,795
<br />$ 452,164
<br />$ 537
<br />100%
<br />Summary of Sources
<br />Total
<br />Per Unit
<br />Per SF
<br />% of TDC
<br />NPLH
<br />$
<br />1,562,631
<br />$ 91,919
<br />$ 109
<br />20%
<br />SNHP
<br />$
<br />2,047,253
<br />$ 120,427
<br />$ 143
<br />27%
<br />City of Santa Ana
<br />$
<br />1,656,947
<br />$ 97,467
<br />$ 116
<br />22%
<br />City of Santa Ana Lease
<br />$
<br />788,000
<br />Wells Fargo Grant
<br />$
<br />25,000
<br />$ 1,471
<br />$ 2
<br />0%
<br />OCHFT
<br />$
<br />832,000
<br />$ 48,941
<br />$ 58
<br />11%
<br />In -Kind
<br />$
<br />704,963
<br />$ 41,468
<br />$ 49
<br />Developer Contribution
<br />$
<br />70,000
<br />$ 4,118
<br />$ 5
<br />1%
<br />Total
<br />$
<br />7,686,794
<br />$ 360,225
<br />$ 428
<br />80%
<br />Surplus/Deficit (0)
<br />City Council 16 - 158 12/7/2021
<br />FX Proforma 11/23/2021
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