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CITY OF SANTA ANA <br /> <br /> <br /> <br /> <br /> <br /> <br />o Loan fees; <br />o Amount of cash equity contribution and the return requirement on <br />these funds during the construction period; <br />o Capitalized reserves. <br /> Provide the proposed rents or sales prices for the units. <br />iii. Market Rate Rents / Sales Prices <br /> Provide the proposed market rate rents/sales prices for each unit type; <br /> Include evidence that the market rate rents/sales prices shown in the pro <br />forma are reasonable and achievable. Please include a preliminary market <br />study analysis that demonstrates that the rents/sales prices are achievable. <br />iv. Affordable Rents. Include evidence that the rental income shown in the pro <br />forma is reasonable and achievable. If proposing all rents to be at low income, <br />include a market study that supports that this is achievable. <br />v. Affordable Sales Prices: <br /> Provide the proposed affordable sales prices for each proposed income <br />level by unit bedroom type. <br /> Provide the assumptions utilized for the affordable sales price calculations <br />including: <br />o Proposed income limits; <br />o Utility allowances; <br />o HOA, insurance and maintenance allowances; and <br />o The Interest rate assumed for the homebuyer first trust deed <br />mortgages. <br />vi. Financial Parameters: <br /> Equity contribution: <br />o Quantify the equity contribution to be provided with cash during <br />construction, and the amount of cash equity that will be left in the <br />project on a permanent basis. <br />o Identify the funding source that will be used to refund any construction <br />period equity that is to be returned to the developer upon the <br />completion of construction. <br />o Define the preferred return requirements applied to the cash equity <br />funds provided to the proposed project. <br /> Describe the terms under which any deferred developer fee will be repaid. <br /> If the proposal includes market rate units, the pro forma must include a <br />calculation of the return on investment to the developer. <br />EXHIBIT 1