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TABLE 1
<br />ESTIMATED DEVELOPMENT COSTS
<br />FOR-SALE: 30 LOW INCOME UNITS & 10 MODERATE INCOME UNITS
<br />HABITAT FOR HUMANITY - ALTON
<br />SANTA ANA, CALIFORNIA
<br />I.Property Assemblage Costs
<br />Property Acquisition Costs 1 87,110 Sf Land $49 /Sf Land $4,250,000
<br />Relocation Costs 213,000
<br />Lost Rent Paid to Seller 386,000
<br />Closing Costs 2.0%Property Acquisition Costs 85,000
<br />Total Property Assemblage Costs $4,934,000
<br />II.Direct Costs 2
<br />On-Site Improvements 87,110 Sf Land $46 /Sf Land $3,995,000
<br />Building Costs 40 Units $267,500 /Unit 10,700,000
<br />General Conditions 3 2.5%Construction Costs 367,000
<br />Habitat Supervision 3 320,000
<br />Contingency Allowance 10%Other Direct Costs 1,506,000
<br />Total Direct Costs 40 Units $422,200 /Unit $16,888,000
<br />III.Indirect Costs
<br />Architecture, Engineering & Consulting 6%Direct Costs $1,013,000
<br />Public Permits & Fees 4 40 Units $45,700 /Unit 1,828,000
<br />Taxes, Ins., Legal & Accounting 3%Direct Costs 507,000
<br />Developer Fee 3 3%Net Development Cost (Excl. Dev Fee)844,000
<br />Contingency Allowance 10%Other Indirect Costs 419,000
<br />Total Indirect Costs $4,611,000
<br />IV.Financing Costs
<br />Interest During Construction 5 $7,523,000 Loan 6.50%Interest $489,000
<br />Loan Origination Fee $7,523,000 Loan 1.0 Point 75,000
<br />Closing Costs 40 Units $3,000 /Unit 120,000
<br />HOA Reserves 40 Units $600 /Unit 24,000
<br />Warranties 40 Units $3,500 /Unit 140,000
<br />Total Financing Costs $848,000
<br />V.Total Development Costs 40 Units $682,000 /Unit $27,281,000
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<br />Based on Habitat estimate. An appraisal was not provided for review.
<br />Based on Habitat estimates. Assumes that Federal Davis Badon wage requirements will be imposed on the Project. The Project will also be subject
<br />to the provisions of the Build America Buy America Act.
<br />The loan interest is based on an 24-month loan term and a 50% average outstanding balance.
<br />Based on Habitat estimates. City staff should verify the accuracy of this estimate.
<br />Based on estimate provided by Habitat.
<br />Prepared by: Keyser Marston Associates, Inc.
<br />File name: Habitat Alton_12 6 24; Pf
<br />EXHIBIT 3
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