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EXHIBIT 1
<br />Judson Brown, City of Santa Ana
<br />May 12, 2017
<br />First Street Apartments Financial Feasibility
<br />Page 6 of 7
<br />City of Santa Ana -Housing Funds
<br />$6,195,000
<br />$6,195,000
<br />$0
<br />Total Development Costs
<br />Deferred Developer Fee
<br />$0
<br />$1,2841518
<br />$1,284,518
<br />Max. deferred@ 12ym cash flow.
<br />Low Income Housing Tax Credit
<br />J PMorgan Chase -Perm Loan
<br />$5,413,350
<br />$5,413,350
<br />rET.!ty
<br />$14,043,95_5 TT
<br />$13131051
<br />($1,525,804)
<br />Reduced a� necessar forfaa_siblltt_,v �
<br />I TOTAL SOURCES
<br />$30,1999000 _
<br />$29,735,354
<br />($463,646).
<br />„_„
<br />f SURPLUS/ (DEFICIT) $0 _ $0 $0
<br />Additional Tle-Breaker Scenarios
<br />The attached tables illustrate the detail of three additional tie-breaker scenarios. These scenarios allow
<br />the City to compare varying tie-breaker scores—and the amount of City subsidy necesssry to achieve
<br />them —with the tie-breaker scores of recently successful CTCAC 9% peolects. A summary of the scenarios
<br />follows below in Table 5
<br />Table 5: Summary of Tie -Breaker Scenarios
<br />Scenario
<br />Tie Breaker Target
<br />15.15%
<br />37.6%
<br />40.0%
<br />Total Development Costs
<br />$29,735,354
<br />$29,735,354
<br />$29,735,354
<br />PERMANENT SOURCES
<br />J PMorgan Chase -Perm Loan
<br />$5,413,350
<br />$5,413,350
<br />$5,413,350
<br />JFMorgan Chase -Section 8 Loan
<br />$1,537,459
<br />$1,537,459
<br />$1,537,459
<br />C lty of Santa Ana-Induslonary Funds
<br />$0
<br />$20,447
<br />$685,145
<br />City of Banta Ana -Housing Funds
<br />$0
<br />$6,195,000
<br />$6,195,000
<br />Defarred Developer Fee
<br />$1,284,518
<br />$1,284,518
<br />$1,284,518
<br />Low Income Hcusing Tax Credit
<br />L 121ALRURCE5 ,,,_ „�,�
<br />$21_5000027
<br />$2-9735,354
<br />_
<br />$15,284,580 _
<br />$29,735,354
<br />- $1_4,619,-882
<br />$29135,354
<br />SURPLUS/IDEFICIij $0
<br />The above tie -breakers can be compared with the tie -breakers of recently successful projects (not
<br />including wait -list projects) in the Orange County geographic region
<br />Table 6; Tie -Breakers Scores of Recently Successful Orange County Region
<br />CTCAC 9% Projects
<br />at
<br />Housing
<br />35.765%
<br />27.669%
<br />CSO �advisor8 SAN FRANCISCO LDS ANGELES I NEW YORK
<br />FO M
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