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22206 920 Shasta
<br />Affordable Housing Plan and Density Bonus Request
<br />November 5, 2024
<br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT
<br />REV: 10-16-25 VR
<br />Exhibit B-1 - 7
<br />The Financing Plan provides the estimated total development costs, estimated sources and
<br />uses of funds and timeline to apply for funding sources. The timeline includes backup
<br />sources identified should any of the competitive sources not be awarded.
<br />Development Costs
<br />Construction Sources Total Per Unit
<br />Tax Exempt Construction Loan $46,802,385 $468,024
<br />Taxable Construction Loan $8,800,151 $88,002
<br />State HCD AHSC $3,142,500 $31,425
<br />KM-ECR, LLC Capital Contribution $7,000,000 $70,000
<br />LP Equity $3,647,909 $36,479
<br />Donated Land $9,999,900 $99,999
<br />GP Equity $100 $1
<br />Deferred Costs $9,471,463 $94,715
<br />Total $88,864,408 $ 888,644
<br />Permanent Sources Total Per Unit
<br />Permanent Loan $6,864,829 $68,648
<br />State HCD AHSC $20,950,000 $209,500
<br />Donated Land $9,999,900 $99,999
<br />KM-ECR, LLC Seller Gap Financing $7,000,000 $70,000
<br />LP Equity (Federal and State) $36,479,086 $364,791
<br />GP Equity $7,570,593 $75,706
<br />Total $88,864,408 $888,644
<br />Sources and Uses of Funds
<br />Permanent Uses Total Per Unit
<br />Acquisition 10,025,000 100,250
<br />Hard Costs 55,075,907 550,759
<br />Architecture & Engineering 2,115,934 21,159
<br />Permits & Fees 1,171,758 11,718
<br />Financing Costs 8,857,545 88,575
<br />Relocation 432,900 4,329
<br />Legal 110,000 1,100
<br />Reserves 525,381 5,254
<br />Reports / Studies 233,737 2,337
<br />Related Development Costs 10,316,245 103,162
<br />Total 88,864,407 888,644
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