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<br />7A 2«1 <br /> <br />ATTACHMENT B - REDWOOD CITY FIRST TIME HOMEBUYER PROGRAM <br />COMPENSATION SCHEDULE <br /> <br />Project capital funding base <br />Average subsidy per a transaction <br />Gross subsidies provided <br /> <br />$1,500,000 <br />$100,000 <br />15 <br /> <br />General Administrative and Promotional Fees <br /> <br />Program design and material preparation <br />Program promotion - annual basis <br />General administrative expenses <br />Mailings <br />Total promotional and administrative fees <br /> <br />$2,500 <br /> <br />$1,200 <br />$2,100 <br /> <br />$5,800 <br /> <br />Counseling and related expenses <br /> <br />Projected households counseled <br />Hours per household <br />Gross counseling hours <br />Hourly counseling fee <br />Projected counseling fee <br />Seminars <br />Number of seminars <br />Direct related cost (shared) <br />Gross seminar costs <br /> <br />50 <br />6 <br />300 <br />$50 <br /> <br />$15,000 <br /> <br />3 <br />$750 <br /> <br />$2,250 <br /> <br />Processing related fees <br /> <br />Paid by Redwood City <br />Fee as % of loan principal on 2nd <br />Projected loan allowance <br />Gross projected fee for allocation <br /> <br />2.00% <br />$1,500,000 <br /> <br />$30,000 <br /> <br />SYNOPSIS OF FEES <br /> <br />Annual Fixed Program Fees <br /> <br />Promotional and administrative fees <br />Annual seminar fees <br /> <br />$5,800 <br />$2 250 <br /> <br />Counseling fees - annual (vary per households counseled) <br />Gross projected annual fees - fixed <br /> <br />$15000 <br />$23,050 <br /> <br />Variable Program Fees <br /> <br />Origination fees incurred by Redwood City <br /> <br />$30,000 <br />$53,050 <br /> <br />TOTAL FEES NOT TO EXCEED <br /> <br />'~--'-""'~""T <br />