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Shasta Street
<br />Financing
<br />CONSTRUCTION FINANCING Residential Non-Residential Total
<br />Tax Exempt Construction Loan 46,802,385$ -$ 46,802,385$ 468,024$ 468,024$
<br />Taxable Construction Loan 8,800,151$ -$ 8,800,151$ 88,002$ 88,002$
<br />Permanent loan (bond projects)-$ -$ -$ -$ -$
<br />Land Donation 9,999,900$ -$ 9,999,900$ 99,999$ 99,999$
<br />Affordable Housing & Sustainable Communities 3,142,500$ -$ 3,142,500$ 31,425$ 31,425$
<br />MR Developer Contribution 7,000,000$ -$ 7,000,000$ 70,000$ 70,000$
<br />LP Equity - Federal 3,647,909$ -$ 3,647,909$ 36,479$ 36,479$
<br />LP Equity - State -$ -$ -$ -$ -$
<br />GP Equity 100$ -$ 100$ 1$ 1$
<br />Deferred Costs 9,471,463$ -$ 9,471,463$ 94,715$ 94,715$
<br />Total Financing 88,864,407$ -$ 88,864,407$ 888,644$ 888,644$
<br />Total Development Costs 88,864,407$ -$ 88,864,407$ 888,644$ 888,644$
<br />Surplus/(Gap)-$ -$ -$ -$ -$
<br />52.67%Meet 50% test?YES
<br />PERMANENT FINANCING Residential Non-Residential Total
<br />Permanent Loan 6,864,829$ -$ 6,864,829$ 68,648$ 68,648$
<br />Land Donation 9,999,900$ -$ 9,999,900$ 99,999$ 99,999$
<br />Affordable Housing & Sustainable Communities 20,950,000$ -$ 20,950,000$ 209,500$ 209,500$
<br />MR Developer Contribution 7,000,000$ -$ 7,000,000$ 70,000$ 70,000$
<br />LP Equity - Federal 36,479,086$ -$ 36,479,086$ 364,791$ 364,791$
<br />LP Equity - State -$ -$ -$ -$ -$
<br />GP Equity / Deferred Developer Fee 7,570,592$ -$ 7,570,592$ 75,706$ 75,706$
<br />Total Financing 88,864,407$ -$ 88,864,407$ 888,644$ 888,644$
<br />Total Development Costs 88,864,407$ -$ 88,864,407$ 888,644$ 888,644$
<br />Surplus/(Gap)(0)$ -$ (0)$ (0)$ (0)$
<br />sum of of each column as a check 88,864,407$ -$ 88,864,407$ 888,644$ 888,644$
<br />DEFERRED COSTS Residential Non-Residential Total
<br />TCAC Monitoring Fee 40,590$ -$ 40,590$
<br />Title and Recording (Perm)15,000$ -$ 15,000$
<br />Operating Reserve 525,367$ -$ 525,367$
<br />Replacement Reserve -$ -$ -$
<br />Section 8 Reserve 15$ -$ 15$
<br />Dev Fee - GP Equity Contribution 6,270,492$ -$ 6,270,492$
<br />Dev Fee - Deferred Developer 1,300,000$ -$ 1,300,000$ Dev Fee - Deferred During Construction 1,320,000$ -$ 1,320,000$
<br />Total 9,471,463$ -$ 9,471,463$
<br /> Per Unit
<br />Residential Per Unit TDC
<br /> Per Unit
<br />Residential Per Unit TDC
<br />920 Shasta_100units_4+_AHSC+IIG_2024 06 24ATTY/RESO.0029/CC RESO APPROVING ARCHITECTUAL PERMIT, TENTATIVE PARCEL MAP (920 SHASTA) – EXHIBIT B
<br />REV: 04-22-25 VR
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