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EXHIBIT C
<br />Sources and Uses Project Budget
<br />Cityo� ants � 15t{414rtga "p age
<br />USES - TOTAL PROTECT A a - e' i - c' ed,
<br />COST E e en c n e ant.
<br />���
<br />,�±�
<br />,
<br />6$
<br />Land Cost or Value
<br />6,750,000
<br />3,000,000 1,738,420 2,011,58D
<br />6,750,000
<br />Demolition
<br />-
<br />Acquisition Loan Closing Costs
<br />74,125
<br />74,125
<br />74,125
<br />Land Lease Rent Prepayment
<br />-
<br />-
<br />Total Land Cost or value
<br />6,824,125
<br />3,074,125 1,738,420 2,(111,580
<br />fi 824,125
<br />Existing Improvements Value
<br />-
<br />-
<br />Off -Site Improvements
<br />-
<br />Total Acquisition Cost
<br />Total Land Cost/ Acquisition Cost
<br />6,824,125
<br />.3,074,125 1,738,420 2,011,580
<br />6,924,125
<br />Site Work
<br />100,000
<br />100,000
<br />100,000
<br />Direct Contraction/Hard Costs
<br />4,231,038
<br />959,895 3,271,143
<br />4,231,038
<br />General Requirements
<br />99,614
<br />99,514
<br />99,614
<br />Contractor Overhead
<br />249,035
<br />249,035
<br />249,035
<br />Contractor Profit
<br />249,035
<br />249,035
<br />249,035
<br />Other
<br />General Liability Insurance/ P&P Bond
<br />84,672
<br />84,672
<br />84,672
<br />Other: Preval€ing Wage
<br />649,656
<br />649,656
<br />649,656
<br />Total Construction Costs
<br />5,663,050
<br />959,895 1,432,012 3,271,143
<br />5,663,050
<br />rNew
<br />:M` .., .__ .. >.�`1� h!+ �t"�: �.i>...��-*• >, �:::,X�i�`� r. �.: ._.': _"3..-� i',`�':. >�. 'z4 ��' _� 2 4c>P- '^1 Y �1,iui �
<br />�
<br />Design
<br />157,212
<br />157,212
<br />257,212
<br />Supervision
<br />-
<br />-
<br />Total Architectural Casts
<br />157,212
<br />157,212
<br />157,212
<br />Total Survey & Engineering
<br />- '252,788
<br />- 82,762 - 170,026 - - -
<br />`252,788 '
<br />Construction Loan Interest
<br />-
<br />Origlnation Fee
<br />105,006
<br />105,000
<br />105,000
<br />Syndication Fee
<br />50,000
<br />50,000
<br />50,000
<br />Cost of issuance
<br />26,250
<br />26,250
<br />26,250
<br />Taxes
<br />25,313
<br />25,313
<br />25,313
<br />Insurance (PLL/Builder's Risk)
<br />150,766
<br />150,768
<br />150,768
<br />Title & Retarding
<br />35,000
<br />35,000
<br />35,000
<br />Other: Audit
<br />27,500
<br />27,500
<br />27,500
<br />Other: Lender Inspector
<br />28,000
<br />28,000
<br />28,000
<br />Total Constructloxn Interest & Fees
<br />447,831
<br />447,831447
<br />B31
<br />PER,(vFAIFN,'.�'l15'.N:iN-vi:"':'. N'•.�':`' �S s',�€..#r,'. "z1i �z``ha,'K` '�'i't.'a`.'., esa a�„- 1-.A`�`_eh-.x ` s-'€-
<br />Loan Origination Fee
<br />10,000
<br />10,ODO
<br />10,000
<br />Credit Enhancement/Application Fee
<br />-
<br />-
<br />Tit€e & Record€ng
<br />Taxes
<br />Insurance
<br />Other: (Deposit)
<br />Other: (Specify)
<br />_
<br />-
<br />Total Permanent Financing Costs
<br />10,000
<br />10,000
<br />113,000
<br />SuubtataallCsFForward
<br />13,355,005
<br />1,199,869 5,13..38g,994�. 1,738,420 5,282,723
<br />13,3515,006
<br />>.2Y;'gL {3 ._..;4 f,�_ .>.F^1EN'.:•lt.: ;Ep-" �45ks._ fie, s'rcyl` `�" .'7"sK.x �t ? l
<br />Lender Legal Paid by Applicant
<br />80,000
<br />80,000
<br />80,000
<br />Other: (Bond Counsel & Partnership Legal)
<br />100,000
<br />100,000
<br />100,000
<br />Total Attorney Costs
<br />180,000
<br />180,000
<br />180,000
<br />77-
<br />'4-59 :tc._,u$�.&gYr0_
<br />Rent Reserves
<br />Capitalized Rent Reserves
<br />Operating Reserve
<br />461,133
<br />461,133
<br />461,133 -
<br />61,133Other:(Lease-up
<br />Other: (Lease-upReserve)
<br />153,711
<br />153,711
<br />153,711
<br />Total Reserve Casts
<br />614,844
<br />614,844 -
<br />614,844
<br />AAFRA>>S9i
<br />.3... _.. th., s. •k� n..-:. YxN �'.`>' `�32 .`1 t ._Y ar t _77777777777
<br />�.113,Ot70.
<br />Total Appraisal Costs
<br />- 10,000 - -
<br />- 10,000
<br />Total Contingency Cost -
<br />566,303
<br />..565,305 - -
<br />566,305
<br />077-�ER`PROJEL�Z'i7�7"5 ,h h- , V a s • � n� gat � � F ,
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