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EXHIBIT 3 <br /> TABLE 1 <br /> ESTIMATED DEVELOPMENT COSTS <br /> 9 FOR-SALE MODERATE INCOME UNITS <br /> HABITAT FOR HUMANITY-WELLINGTON <br /> SANTA ANA,CALIFORNIA <br /> I. Property Assemblage Costs <br /> Property Acquisition Costs 1 9 Units $345,000 /Unit $3,105,000 <br /> Relocation Costs z 60,000 <br /> Closing Costs 2% Property Acquisition Costs 69,000 <br /> Total Property Assemblage Costs $3,234,000 <br /> II. Direct Costs 3 <br /> On-Site Improvements 9,148 Sf Land $3 /Sf Land $30,000 <br /> Rehabilitation Costs 9 Units $8,461 /Unit 76,000 <br /> Prevailing Wage Premium 30% Construction Costs 32,000 <br /> General Conditions 4 20% Construction Costs 28,000 <br /> Habitat Supervision 0% Construction Costs 0 <br /> Contingency Allowance 15% Other Direct Costs 25,000 <br /> Total Direct Costs 9 Units $21,200 /Unit $191,000 <br /> III. Indirect Costs <br /> Architecture, Engineering&Consulting 3% Assemblage+Direct Costs $103,000 <br /> Public Permits&Fees 5 9 Units $3,773 /Unit 34,000 <br /> Taxes,Legal&Accounting 3% Assemblage+Direct Costs 103,000 <br /> Insurance 9 Units $3,000 /Unit 27,000 <br /> Developer Fee 4 5% Net Development Cost(Excl. Dev Fee) 207,000 <br /> Contingency Allowance 7% Other Indirect Costs 33,000 <br /> Total Indirect Costs $507,000 <br /> IV. Financing Costs <br /> Interest During Construction 6 $3,000,000 Loan 7.6% Interest $340,000 <br /> Loan Origination Fee $3,000,000 Loan 1.0 Point 30,000 <br /> Closing Costs 9 Units $3,000 /Unit 27,000 <br /> HOA Reserves 9 Units $889 /Unit 8,000 <br /> Warranties 9 Units $7,183 /Unit 65,000 <br /> Total Financing Costs $470,000 <br /> V. JTotal Development Costs 9 Units $489,100 /Unit $4,402,000 <br /> 1 Based on Habitat estimate. An appraisal prepared by AEI Consultants estimated the market value of the property at$2.78 million on 7/26/2024. <br /> Habitat's purchase price is$325,000 or approximately 12%higher than the appraised value of the property. <br /> z Assumes existing tenants that do not purchase a unit are provided relocation assistance equal to up to 3 months of rent payments. <br /> 3 Based on Habitat estimates. Assumes that the City's Community Workforce Agreement wage requirements will be imposed on the Project. <br /> 4 Based on estimate provided by Habitat. <br /> 5 Based on Habitat estimates. City staff should verify the accuracy of this estimate. <br /> 6 Per Habitat,the Project will obtain a$3.0 million predevelopment/construction loan.The loan interest is based on an 18-month loan term and a <br /> 100%average outstanding balance. <br /> Prepared by:Keyser Marston Associates,Inc. <br /> File name:Habitat Wellington_2 10 25;Pf <br />