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Financing Summary
<br />Sources of Funds
<br />Uses of Funds
<br />Construction Permanent
<br />Per Unit
<br />Financing
<br />Financing Financing
<br />(Permanent
<br />Stage Stage
<br />Stage)
<br />Construction/Permanent
<br />$ 50'726'756 $
<br />$ 203 727
<br />Lender
<br />14,668,311
<br />$40,972
<br />Tax Credit Equity
<br />$ 2,784,743 $ 27,847,435
<br />$ 386,770
<br />Deferred/Fqu ity
<br />$ - $ 4,800 000
<br />$ 66,667
<br />Developer Fee
<br />$
<br />$ 3,331,425
<br />$54,087
<br />Land Donation - Lane
<br />$14,000,000 $14,000,000
<br />$ 194,444
<br />Partners
<br />$ 800,000 $ 7,000,000
<br />$97,222
<br />CA HCD MHP
<br />$ - $ 11,297,697
<br />$ 156,912
<br />CA HCD IIG
<br />$ - $ 1,000,000
<br />$ 13,889
<br />FHLB -AHP
<br />$ - $ 710,000
<br />$ 9,861
<br />TOTAL SOURCES
<br />$ 67,511,499 $ 74,323,443
<br />$1,032,270
<br />Uses of Funds
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<br />Construction Permanent
<br />Per Unit
<br />Cost
<br />Financing Financing
<br />(Permanent
<br />Stage Stage
<br />Stage)
<br />Land or Building
<br />$14,030,000 $
<br />14,030,000
<br />$194,861
<br />Architect and
<br />$ 2,950,000 $
<br />$40,972
<br />Engineering
<br />2,950,000
<br />Construction
<br />39,287,578 39,287,S78
<br />$545,661
<br />Indirect Costs (Incl.
<br />$
<br />$ 3,331,425
<br />$54,087
<br />Reserves)
<br />3,894,259
<br />Developer Fee
<br />$ 800,000 $ 7,000,000
<br />$97,222
<br />Financing Costs
<br />$ 6,984,584 $ 6,999,584
<br />$97,216
<br />Other Soft Costs
<br />$ 127,913 $ 162,023
<br />$2,250
<br />TOTAL DEV COSTS
<br />$ 67,511,499 $
<br />74,323,444
<br />$1,032,270
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