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EXHIBIT 1 <br />Workforce Agreement. <br />Provide a direct construction cost breakdown (include a contractor's detailed estimate, if <br />available) that disaggregates the following information: <br />o Off -site improvements; <br />o On -site improvements; <br />o Parking costs; <br />o Residential shell costs; <br />o Community room/office space costs; <br />o Commercial space shell costs; <br />o Commercial space tenant improvement costs; <br />o General conditions; <br />o Contractor fees; and <br />o Direct cost contingency allowance. <br />Provide a breakdown of the project's indirect costs such as: <br />o Architecture, engineering and consulting fees; <br />o Public permits and fees costs including all city fees, school district fees, impact fees and <br />any other fees that would be assessed on the projects; <br />o Taxes, legal and accounting costs; <br />o Insurance costs; <br />o Marketing costs; <br />o Development management fee; and <br />o Indirect cost contingency allowance. <br />Provide the following financing cost information: <br />o Predevelopment/bridge loans (loan amounts, interest rates, length of term and projected <br />average outstanding balance of loan funds during predevelopment/construction); <br />o Construction loans (loan amounts, interest rates, length of term and projected average <br />outstanding balance of loan funds during predevelopment/construction); <br />o Loan fees; <br />o Amount of cash equity contribution and the return requirement on these funds during the <br />construction period; <br />o Capitalized reserves. <br />• Provide the proposed sales prices for the units. <br />Financial Parameters <br />o Equity contribution: <br />■ Quantify the equity contribution to be provided with cash during construction, and <br />the amount of cash equity that will be left in the project on a permanent basis. <br />■ Identify the funding source that will be used to refund any construction period <br />equity that is to be returned to the developer upon the completion of construction. <br />■ Define the preferred return requirements applied to the cash equity funds <br />provided to the proposed project. <br />o Describe the other proposed governmental subsidies (City of Santa Ana, etc.). If <br />assuming a competitive funding source, provide an estimate of how the project scores in <br />the identified funding competitions. <br />o Describe the terms under which any deferred developer fee will be repaid. <br />• Public Assistance Terms <br />City of Santa Ana Community Development Agency <br />Request for Proposals for Affordable Homeownership Opportunities <br />Page 10 <br />