|
940 S. Minnie, Santa Ana
<br />Use of Funds
<br />Sources
<br />City of Santa
<br />Bank Loan
<br />Total
<br />Ana
<br />(3)
<br />Developer
<br />Acquisition Cost
<br />$
<br />1,050,000
<br />$
<br />1,050,000
<br />General Development Costs
<br />Residential Construction ()
<br />$
<br />400,000
<br />$
<br />264,990
<br />$ 135,010
<br />Contractor Overhead
<br />4.5%
<br />$
<br />18,000
<br />$ 18,000
<br />Contractor GR
<br />1.5%
<br />$
<br />6,000
<br />$ 6,000
<br />Contractor Profit
<br />8.0%
<br />$
<br />32,000
<br />$ 32,000
<br />Construction Contigency (Residential)
<br />10.0%
<br />$
<br />40,000
<br />$ 40,000
<br />Architecture- Design
<br />$
<br />4,000
<br />$ 4,000
<br />Engineering
<br />$
<br />2,000
<br />$ 2,000
<br />Lender Appraisal
<br />$
<br />5,000
<br />$ 5,000
<br />Environmental
<br />$
<br />5,000
<br />$ 5,000
<br />Relocation (Z)
<br />$
<br />196,204
<br />$ 159,573
<br />$ 36,631
<br />Perm Loan Fees
<br />$
<br />7,557
<br />$ 7,557
<br />Title /Recording /Escrow- Permanent
<br />$
<br />5,000
<br />$ 5,000
<br />Insurance
<br />$
<br />7,500
<br />$ 7,500
<br />Real Estate Taxes
<br />$
<br />3,360
<br />$ 3,360
<br />Soft Cost Contigency
<br />$
<br />50,000
<br />$ 50,000
<br />Legal: Acqusition
<br />$
<br />2,500
<br />$ 2,500
<br />Permanent Closing
<br />$
<br />5,000
<br />$ 5,000
<br />Organization of Ptrshp
<br />$
<br />2,500
<br />$ 2,500
<br />Operating Reserve
<br />$
<br />20,000
<br />$
<br />20,000
<br />Replacement Reserve
<br />$
<br />16,000
<br />$
<br />16,000
<br />Lender Counsel
<br />$
<br />10,000
<br />$ 10,000
<br />Developer Fee
<br />8.0%
<br />$
<br />151,010
<br />$
<br />71,010
<br />$ -
<br />$ 80,000
<br />$
<br />988,631
<br />$
<br />372,000
<br />$ 500,000
<br />$ 116,631
<br />Total Project Cost/Total Sources
<br />$
<br />2,038,631
<br />$
<br />1,422,000
<br />$ 500,000
<br />$ 116,631
<br />" Construction cost estimate does not assume the payment of Davis Bacon wages
<br />(2) Development budget includes costs for relocation.
<br />(3) Developer will bridge bank loan until construction completion.
<br />251 -52
<br />
|