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Sources Uses
<br />FX Residences
<br />Sources and Uses
<br />Development Sources
<br />Terms
<br />Amount
<br />Per Unit
<br />Per SF
<br />Predevelopment Construction Permanent
<br />Percent of Total
<br />Permanent Loan
<br />5E%, 35 yrs
<br />-
<br />0.00
<br />-
<br />0.00%
<br />N PLH
<br />Residual aeceiprs,aes:islluni�
<br />1,562,631
<br />91,919
<br />109.11
<br />1,562,631
<br />20.33%
<br />SNHP
<br />Residual Receipts, t3 assisted unis
<br />2,047,253
<br />120,427
<br />142.95
<br />2,047,253
<br />26.63%
<br />City of Santa Ana
<br />Rssiduel Receipts
<br />1,656,947
<br />97,467
<br />115.70
<br />1,656,947
<br />21.56%
<br />City of Santa Ana Lease
<br />788,000
<br />46,353
<br />55.02
<br />788,000
<br />10.25%
<br />Wells Fargo Grant
<br />25,000
<br />1,471
<br />1.75
<br />25,000
<br />0.33%
<br />OCHFT
<br />832,000
<br />48,941
<br />58.10
<br />712,500 119,500
<br />10.82%
<br />In -Kind
<br />704,963
<br />41,468
<br />49.23
<br />704,963
<br />9.17%
<br />Developer Contribution
<br />70,000
<br />4,118
<br />4.89
<br />70,000
<br />0.91%
<br />Lending Partner
<br />5.05%,3-month term
<br />-
<br />-
<br />0.00
<br />-
<br />Construction Loan
<br />5.05%,24, nthtens
<br />3,601,268
<br />211,839
<br />251.47
<br />3,601,268 (3,601,268)
<br />Total
<br />1 7,686,794
<br />1 452,164
<br />1 536.75
<br />1 1,500,500 6,177,678 8,616
<br />1 100.00%
<br />Surplus/Deficit
<br />(0) (0.00)
<br />Project
<br />Predevelopment Construction Permanent
<br />Const/Rehab
<br />Development Costs
<br />Assumptions
<br />Total
<br />Per Unit
<br />Per SF
<br />Eligible Basis
<br />Acquisition
<br />Property Purchase
<br />788,000
<br />46,353
<br />55.02
<br />788,000
<br />Legal/Broker Fees
<br />-
<br />0.00
<br />-
<br />Real Estate Taxes, Insurance
<br />-
<br />0.00
<br />-
<br />Title and Recording
<br />0.00
<br />Total Acquisition
<br />788,000
<br />46,353
<br />55.021
<br />788,000
<br />Construction
<br />Structures & Site Work
<br />3,518,281
<br />206,958
<br />245.67
<br />3,518,281
<br />3,518,281
<br />General Requirements
<br />4%
<br />128,701
<br />7,571
<br />8.99
<br />128,701
<br />128,701
<br />Contractor Overhead
<br />4%
<br />128,701
<br />7,571
<br />8.99
<br />128,701
<br />128,701
<br />Prevailing Wage
<br />-
<br />-
<br />0.00
<br />-
<br />ContractorProfit
<br />4%
<br />167,891
<br />9,876
<br />11.72
<br />167,891
<br />167,891
<br />Surety&Bonds
<br />0%
<br />-
<br />0.00
<br />-
<br />-
<br />General Liability/Builders Risk Ins.
<br />2%
<br />60,000
<br />3,529
<br />4.19
<br />60,000
<br />60,000
<br />Security
<br />95,000
<br />5,588
<br />6.63
<br />95,000
<br />95,000
<br />Construction Material Increase
<br />12%
<br />433,600
<br />25,506
<br />30.28
<br />433,600
<br />433,600
<br />Hard Cost Contingency
<br />8.83%
<br />400,000
<br />23,529
<br />27.93
<br />400,000
<br />400,000
<br />Total Construction
<br />4,932,174
<br />290,128
<br />344.40
<br />4,932,174
<br />4,932,174
<br />Permit & Impact Fees
<br />Planning Fees
<br />108,000
<br />6,353
<br />7.54
<br />108,000
<br />108,000
<br />Plan Check, Permit & Inspection Fees
<br />-
<br />0.00
<br />-
<br />-
<br />Impact Fees
<br />425,000
<br />25,000
<br />29.68
<br />425,000
<br />425,000
<br />Total Permit & Impact Fees
<br />533,000
<br />31,353
<br />37.22
<br />1 533,000
<br />533,000
<br />Financing
<br />Perm Title/Recording/Escrow
<br />11,500
<br />676
<br />0.80
<br />11,500
<br />Perm Orig. Fees & Expenses
<br />1.0%
<br />-
<br />0.00
<br />-
<br />Construction Loan Interest
<br />5.05%et60% out 12 mos-3 mo. 100%
<br />154,584
<br />9,093
<br />10.79
<br />154,584
<br />108,038
<br />Origination Fee
<br />1.0%
<br />36,013
<br />2,118
<br />2.51
<br />36,013
<br />36,013
<br />Taxes During Construction
<br />-
<br />0.00
<br />-
<br />-
<br />Legal
<br />50,000
<br />2,941
<br />3.49
<br />50,000
<br />50,000
<br />Title and Recording
<br />20,000
<br />1,176
<br />1.40
<br />20,000
<br />20,000
<br />Lender Fees (appraisal, etc.)
<br />56,900
<br />3,347
<br />3.97
<br />56,900
<br />56,900
<br />Predevelopment Loan Fee
<br />1.0%
<br />-
<br />-
<br />0.00
<br />-
<br />PredevelopmentLoan Interest
<br />5.05%at60%out3 mos.
<br />-
<br />-
<br />0.00
<br />-
<br />Total Financing
<br />328,997
<br />19,353
<br />22.97
<br />317,497 11,500
<br />270,951
<br />Soft Costs
<br />Architecture
<br />50,000
<br />2,941
<br />3.49
<br />35,000 15,000
<br />50,000
<br />Engineering
<br />75,000
<br />4,412
<br />5.24
<br />52,500 22,500
<br />75,000
<br />Appraisal
<br />15,000
<br />882
<br />1.05
<br />15,000
<br />Environmental Studies
<br />15,000
<br />882
<br />1.05
<br />15,000
<br />15,000
<br />Legal- Organization & Loans
<br />-
<br />0.00
<br />-
<br />Marketing/Lease-up
<br />15,000
<br />882
<br />1.05
<br />15,000
<br />Furnishings
<br />50,000
<br />2,941
<br />3.49
<br />50,000
<br />50,000
<br />Market Study
<br />9,000
<br />529
<br />0.63
<br />9,000
<br />9,000
<br />Audit/Cost Certification
<br />22,000
<br />1,294
<br />1.54
<br />22,000
<br />22,000
<br />Construction Inspection
<br />15,000
<br />882
<br />1.05
<br />15,000
<br />15,000
<br />Survey
<br />8,000
<br />471
<br />0.56
<br />8,000
<br />8,000
<br />Insurance
<br />58,800
<br />3,459
<br />4.11
<br />58,800
<br />58,800
<br />Financial Consultant
<br />50,000
<br />2,941
<br />3.49
<br />15,000 15,000 20,000
<br />Security
<br />30,000
<br />1,765
<br />2.09
<br />30,000
<br />Soft Cost Contingency
<br />131,990
<br />7,764
<br />9.22
<br />30,000 30,000 71,990
<br />131,990
<br />Total Soft Costs
<br />544,790
<br />32,046
<br />38.04
<br />179,500 251,300 113,990
<br />434,790
<br />Developer Fee
<br />442,000
<br />26,000
<br />30.86
<br />88,400 353,600
<br />442,000
<br />Reserves
<br />NPLH Required Transition Reserve
<br />12-ths
<br />57,216
<br />3,366
<br />4.00
<br />57,216
<br />Services Reserve
<br />-
<br />-
<br />0.00
<br />-
<br />OperatingReserves
<br />4 months a top sxp.,rsse .s,dent
<br />60,618
<br />3,566
<br />4.23
<br />6Q618
<br />Total Reserves
<br />117,834
<br />6,931
<br />8.23
<br />117,834
<br />Total Development Costs
<br />7,686,795
<br />452,164
<br />536.75
<br />1,500,500 5,589,371 596,924
<br />6,612,915
<br />City Council 16 - 159 12/7/2021
<br />FX Proforma 11/23/2021
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