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10 <br /> <br /> <br />Financing – Medium: project has $15,996,560 in committed funding including City February 2024 award, <br />contributed and deferred developer fee, general partner capital, and SandHill loan or 21% of its total <br />development costs and will be applying to San Mateo Affordable Housing Funding (AHF) application in <br />May 2026 and LIHTC funding in December 9, 2026. <br /> <br />Underwriting Analysis – Low: the project is feasible and in compliance with NOFA guidelines. Project <br />demonstrates a healthy cashflow for 20 years. <br /> <br />9.A. - Page 28 of 37 <br />494