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TABLE 5
<br />PRELIMINARY HOME COST ALLOCATION
<br />WESTVIEW HOUSE
<br />SANTA ANA, CALIFORNIA
<br />Step 1: Determine Comparability, Select Method of Cost Allocation
<br />Step 2: Proposed HOME Investment
<br />Step 3: Calculate Actual Cost of HOME Units
<br />Total Development Costs
<br />Ineligible Development Costs '
<br />Unit -Specific Upgrades
<br />Relocation Costs
<br />Assign Relocation Exclusively to HOME Units?
<br />Net Residential SF 73,860
<br />$2,003,705
<br />$39,017,797
<br />(2,335,584)
<br />0
<br />0
<br />NA
<br />Base Project Cost
<br />$497 /Sf Gross Residential SF
<br />$36,682,213
<br />Assign Units
<br />p of Bdrms
<br />Unit Size
<br />Cost Unit
<br />1
<br />1
<br />520
<br />$258,255
<br />2
<br />1
<br />520
<br />$258,255
<br />3
<br />1
<br />520
<br />$258,255
<br />4
<br />2
<br />750
<br />$372,494
<br />5
<br />3
<br />970
<br />$481,746
<br />6
<br />3
<br />970
<br />$481,746
<br />7
<br />3
<br />970
<br />$481,746
<br />8
<br />4
<br />1,080
<br />$536,377
<br />9
<br />4
<br />1,080
<br />$536,377
<br />Subtotal HOME Unit Costs $3,665,241
<br />Add: Relocation Costs Allocated Exclusively to HOME Units (if applicable) $0
<br />Actual Cost of HOME Units $3,665,241
<br />Step 4: Calculate Maximum Project Subsidy
<br />Unit Size
<br />ft of Units
<br />Max Subsidy/Unit
<br />Maximum Subsidy
<br />1 Bedroom
<br />3
<br />$171,802
<br />$515,406
<br />2 Bedroom
<br />1
<br />$208,913
<br />$208,913
<br />3 Bedroom
<br />3
<br />$270,266
<br />$810,798
<br />4 Bedroom
<br />2
<br />$296,666
<br />$593,332
<br />Maximum Project Subsidy
<br />9
<br />$2,128,449
<br />Step 5: Maximum HOME Investment, Lesser of
<br />Proposed Investment (Step 2) $2,003,705
<br />Actual Cost of HOME Units (Step 3) $3,665,241
<br />Maximum Project Subsidy (Step 4) $2,128,449
<br />Maximum HOME Investment 9 HOME Units $2,003,705
<br />' The ineligibe costs include: off -site improvements, on -site improvements, capitalized reserves and furnishings.
<br />Prepared by: Keyser Marston Associates, Inc. 6U _�
<br />File name: Westview House 3 19 20.xlsm; HOME; trb
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