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Santa Ana Veterans Village ("SAW")
<br />Sources & Uses City of Santa Ana
<br />Initial Preforms
<br />02/15/1 7
<br />NEW OR
<br />ELIGIBLE
<br />ELIGIBLE
<br />NOTTOTAL
<br />USES OF
<br />eTAL
<br />ACQUISITION
<br />REHAB COSTHISTORIC
<br />Land at $2,404,372 Per Acre or $55.20 Per SF
<br />4,400,000
<br />0
<br />0
<br />0
<br />0
<br />4,400,000
<br />57,895
<br />Existing Structure
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other Acquisition Costs
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Hard Cost Residential 14,888,155 195,897
<br />12,975,000
<br />0
<br />12,975,000
<br />0
<br />12,975,000
<br />0
<br />170,724
<br />Site Improvements
<br />971,749
<br />0
<br />971,749
<br />0
<br />971,749
<br />0
<br />12,786
<br />General Conditions, Profit & Overhead 5.00%
<br />697,337
<br />0
<br />697,337
<br />0
<br />697,337
<br />0
<br />9,175
<br />GC Bond/Insurance/ Letter of Credit 1.75%
<br />244,068
<br />0
<br />244,068
<br />0
<br />244,068
<br />0
<br />3,211
<br />Hard Cost Contingency 11.00%
<br />1,637,730
<br />0
<br />1,637,730
<br />0
<br />1,637,730
<br />0
<br />21,549
<br />Construction Interest (3.62%) at Perm. Rate+ -2( 3.62%
<br />974,315
<br />0
<br />423,996
<br />0
<br />423,996
<br />550,319
<br />12,820
<br />Bridge Interest al 10.00%
<br />5,753
<br />0
<br />0
<br />0
<br />0
<br />5,753
<br />76
<br />Construction Loan Fees
<br />149,500
<br />0
<br />149,500
<br />0
<br />149,500
<br />0
<br />1,967
<br />Permanent Loan Fees
<br />118,425
<br />0
<br />0
<br />0
<br />0
<br />118,425
<br />1,558
<br />Bridge Loan Fees
<br />37
<br />0
<br />37
<br />0
<br />37
<br />0
<br />0
<br />4% Related Costs / Cost of Issuance
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Accounting & Audit
<br />35,000
<br />0
<br />35,000
<br />0
<br />35,000
<br />0
<br />461
<br />Appraisal/Market Study
<br />15,000
<br />0
<br />15,000
<br />0
<br />15,000
<br />0
<br />197
<br />Architecture (Architect, Landscape Architect)
<br />750,000
<br />0
<br />750,000
<br />0
<br />750,000
<br />0
<br />9,868
<br />Civil Engineering
<br />150,000
<br />0
<br />150,000
<br />0
<br />150,000
<br />0
<br />1,974
<br />Construction Manager
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Consultants (CM, Geo, LEEO, Utilities, exc.)
<br />340,000
<br />0
<br />340,000
<br />0
<br />340,000
<br />0
<br />4,474
<br />Environmental (EIR, Phase I, Asbestos, exc.)
<br />50,000
<br />0
<br />50,000
<br />0
<br />50,000
<br />0
<br />658
<br />Financial Adviser/Syndication Consultant
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Furnishings
<br />439,400
<br />0
<br />439,400
<br />0
<br />439,400
<br />0
<br />5,782
<br />Impact Fees
<br />911,633
<br />0
<br />911.633
<br />0
<br />911,633
<br />0
<br />11,995
<br />Lease -up& Marketing Expenses
<br />110,000
<br />0
<br />0
<br />0
<br />0
<br />110,000
<br />1,447
<br />Legal
<br />190,000
<br />0
<br />145,000
<br />0
<br />145,000
<br />45,000
<br />2,500
<br />MHSA Construction Period Fees
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Operating & Debt Service Reserve (-ma's I debt)
<br />303,074
<br />0
<br />0
<br />0
<br />0
<br />303,074
<br />3,988
<br />Other (Admin, Repro. & Relmb.)
<br />15,000
<br />0
<br />15,000
<br />0
<br />15,000
<br />0
<br />197
<br />Other (Bank Inspections)
<br />25,000
<br />0
<br />25,000
<br />0
<br />25,000
<br />0
<br />329
<br />SNHP Local Application Fee
<br />29,120
<br />0
<br />29,120
<br />0
<br />29,120
<br />0
<br />383
<br />Bridge Loan Costs
<br />314,000
<br />0
<br />0
<br />0
<br />0
<br />314,000
<br />4,132
<br />Permit Fees
<br />281,200
<br />0
<br />281,200
<br />0
<br />281,200
<br />0
<br />3,700
<br />Property Taxes and Insurance
<br />217,500
<br />0
<br />187,500
<br />0
<br />187,500
<br />30,000
<br />2,862
<br />PV - solar hot water + rooftop solar
<br />300,000
<br />0
<br />300,000
<br />0
<br />300,000
<br />0
<br />3,947
<br />Replacement Reserve
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Soft Cost Contingency 7.50%
<br />325,645
<br />0
<br />325,645
<br />0
<br />325,645
<br />0
<br />4,285
<br />Tax Credit Fees (App., Man., & Res.)
<br />135,000
<br />0
<br />2,000
<br />0
<br />2,000
<br />133,000
<br />1,776
<br />Title & Recording
<br />45,000
<br />0
<br />32,250
<br />0
<br />32,250
<br />12,750
<br />592
<br />Developer Overhead
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Devel0 er Fee
<br />TOTAL
<br />2,200,0001
<br />0
<br />1400000
<br />Ll
<br />1 400 MLI
<br />800,000
<br />28,947
<br />
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