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22206 920 Shasta
<br />Affordable Housing Plan and Density Bonus Request
<br />November 5, 2024
<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 iTotal
<br />Tax Exempt Construction Loan
<br />$46,802,385
<br />$468,024
<br />Taxable Construction Loan
<br />$8,800,151
<br />$88,002
<br />State HCD AHSC
<br />$3,142,500
<br />$31,425
<br />M -ECR, LLC Capital Contribution
<br />$7,000,000
<br />$70,000
<br />P Equity
<br />$3,647,909
<br />$36,479
<br />Donated Land
<br />$9,999,900
<br />$99,999
<br />GP Equity
<br />$100
<br />$1
<br />Deferred Costs
<br />$9,471,463
<br />$94,715
<br />Permanent Sources
<br />Total
<br />Per Unit
<br />Permanent Loan
<br />$6,864,829
<br />$68,648
<br />State HCD AHSC
<br />$20,950,000
<br />$209,500
<br />Donated Land
<br />$9,999,90
<br />$99,999
<br />KM -ECR, LLC Seller Ga Financin
<br />$7,000,00
<br />$70,000
<br />LP Equity (Federal and State
<br />$36,479,086
<br />$364,791
<br />GP Equity
<br />$7,570,593
<br />$75,706
<br />Total
<br />$88,864,408
<br />$888,644
<br />Sources and Uses of Funds
<br />ikulzma
<br />Total
<br />Per Unit
<br />Acquisition
<br />10,025,000
<br />100,250
<br />Hard Costs
<br />55,075,907
<br />550,759
<br />Architecture & Engineering
<br />2,1 t5,934
<br />21,159
<br />Permits & Fees
<br />1,171,758
<br />11,718
<br />Financing Costs
<br />8,857,545
<br />88,575
<br />Relocation
<br />432,900
<br />4,329
<br />Legal
<br />110,000
<br />1,100
<br />Reserves
<br />525,381
<br />5,254
<br />Reports / Studies
<br />233,737
<br />2,337
<br />Related Development Costs 1
<br />al
<br />10,316,245
<br />88,864,407
<br />103,162
<br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT
<br />REV: 10-16-25 VR
<br />Exhibit B-1 - 7
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