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TABLE 3 <br />FINANCIAL GAP CALCULATION <br />FRANCIS XAVIER RESIDENCE <br />SANTA ANA, CALIFORNIA <br />I.Available Funding Sources 1 <br />NPLH 2 8 NPLH Units $195,375 /NPLH Unit $1,563,000 <br />SNHP 2 13 SNHP Units $157,462 /SNHP Unit $2,047,000 <br />OCHTF 2 $832,000 <br />Wells Fargo Contribution 3 $25,000 <br />Deferred Developer Fee 3 16%Total Developer Fee $70,000 <br />Developer Fundraising / In-Kind Contributions 3 $704,000 <br />Previously Committed Housing Authority Funds 4 $1,070,000 <br />Total Available Funding Sources $6,311,000 <br />II.Financial Gap Calculation <br />Total Available Funding Sources $6,311,000 <br />(Less) Total Construction Costs (6,898,000) <br />III.Additional Financial Surplus / (Financial Gap)17 Units ($34,500)/Unit ($587,000) <br />1 <br />2 Based on award documentation <br />3 Based on Developer estimate. <br />4 Per City award letter. <br />The maximum permanent loan supported by the Project's NOI is estimated at $138,000. This assumes a fully amortized 15-year term. However, given <br />the added restrictions imposed by permanent lenders, KMA recommends that projects avoid taking out permanent loans less than $500,000. <br />Prepared by: Keyser Marston Associates, Inc. <br />Filename: Francis Xavier Residence PF_8 27 21.xlsm; Pro Forma_w 3 PBV; trb 3 of 12 <br />EXHIBIT 3