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EXHIBIT 3
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<br />WISEPIace PSH
<br />Sources & Uses City of Santa Ana
<br />Jamboree Version: 9%- TCAC Application
<br />Revised: 02/08/23
<br />PROJECT SOURCES
<br />PERMANENT SOURCES
<br />PERCENT
<br />BEGINNING
<br />TOTAL
<br />20,089,816
<br />BALANCE
<br />PER UNIT
<br />4 18, 538
<br />ENDING
<br />TOTAL
<br />1
<br />BALANCE
<br />PER UNIT
<br />1
<br />1'
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1•
<br />1
<br />1
<br />1
<br />1
<br />Permanent Loan (2)
<br />0%
<br />1
<br />1
<br />1
<br />Accrual Mortgage
<br />1•
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1
<br />•
<br />:1 030
<br />1
<br />1
<br />1
<br />050
<br />•
<br />, 1
<br />11 1
<br />1
<br />Deferred, Developer
<br />1'
<br />1
<br />1
<br />Gand"IPartner ,
<br />1
<br />1
<br />d Donation
<br />0%
<br />1
<br />1
<br />1
<br />1
<br />Other
<br />0%
<br />1
<br />Interest on Surplus Funds
<br />1
<br />1
<br />1
<br />1
<br />1
<br />TOTAL SOURCES
<br />1000%
<br />29,411,245
<br />612,734
<br />85,072
<br />1,772
<br />PROJECT USES
<br />1
<br />2
<br />3
<br />4
<br />5
<br />6
<br />7
<br />8
<br />9
<br />10
<br />11
<br />12
<br />13
<br />14
<br />15
<br />16
<br />17
<br />Net Investor Equity (Federal)
<br />$3,013,472
<br />Net Investor Equity (State)
<br />$0
<br />Construction Loan
<br />$15,584,322
<br />Tranche B - Loan
<br />$0
<br />Permanent Loan (2)
<br />$0
<br />Accrual Mortgage
<br />$0
<br />Variable Interest Mortgage
<br />$0
<br />OCHFT
<br />$2,480,030
<br />City of Santa Ana
<br />$3,986,407
<br />City of Santa Ana - COSR
<br />$0
<br />County ARPA
<br />$1,500,000
<br />Deferred Developer Fee and Costs
<br />$2,B47,014
<br />General Partner Equity
<br />$0
<br />Land Donation
<br />$0
<br />Other
<br />$0
<br />Interest on Surplus Funds
<br />$0
<br />NOI Durin Construction
<br />$0
<br />TOTAL
<br />NEW OR ELIGIBLE
<br />ELIGIBLE
<br />NOT
<br />USES OF FUNDS
<br />LAND / ACQUISITION COST
<br />PER UNIT
<br />TOTAL
<br />ACQUISITION
<br />REHAB COST HISTORIC
<br />STATE
<br />ELIGIBLE
<br />Land at $0 Per Acre or $0.00 Per SF
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Existing Structure
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other Ac uisition Costs
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />TOTAL LAND / ACQUISITION COST
<br />6
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />HARD COSTS
<br />Hard Cost Residential 18,024,033
<br />323, 166
<br />15,512,913
<br />0
<br />14,882,093
<br />0
<br />0
<br />630,820
<br />Site Improvements
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />General Conditions, Profit & Overhead
<br />14.00%
<br />45,246
<br />2,171,808
<br />0
<br />2,083,493
<br />0
<br />0
<br />88,315
<br />GC Bond / Insurance / Letter of Credit
<br />2.00%
<br />7,069
<br />339,312
<br />0
<br />339,312
<br />0
<br />0
<br />0
<br />Hard Cost Contin en
<br />8.00%
<br />28 276
<br />1,357,217
<br />0
<br />1 357 247
<br />0
<br />0
<br />0
<br />TOTAL HARD COSTS
<br />403,777
<br />19,381,279
<br />0
<br />18,662,145
<br />0
<br />0
<br />719,135
<br />FINANCING COSTS
<br />Construction Interest (7.25%) at Perm. Rate + 125bp
<br />725%
<br />30,011
<br />1,440,508
<br />0
<br />530,658
<br />0
<br />0
<br />909,850
<br />Bridge Interest at
<br />101 %
<br />15
<br />718
<br />0
<br />0
<br />0
<br />0
<br />7IS
<br />Construction Loan Fees
<br />5,543
<br />266,044
<br />0
<br />266,044
<br />0
<br />0
<br />0
<br />Permanent Loan Fees
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Bridge Loan Fees
<br />0
<br />7
<br />0
<br />7
<br />0
<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 />TOTAL FINANCING COSTS
<br />35,568
<br />1,707,277
<br />0
<br />796,709
<br />0
<br />0
<br />910,567
<br />SOFTCOSTS
<br />Accounting & Audit
<br />833
<br />40,000
<br />0
<br />40,000
<br />0
<br />0
<br />0
<br />Appraisal / Market Study
<br />729
<br />35,000
<br />0
<br />35,000
<br />0
<br />0
<br />0
<br />Architecture (Architect, Landscape Architect)
<br />14,448
<br />693,500
<br />0
<br />693,500
<br />0
<br />0
<br />0
<br />Civil Engineering
<br />3,295
<br />158,140
<br />0
<br />158,140
<br />0
<br />0
<br />0
<br />Construction Manager
<br />4,342
<br />208,400
<br />0
<br />208,400
<br />0
<br />0
<br />0
<br />Consultants ( CM, Geo, LEED, Utilities, exc.)
<br />11,169
<br />550,520
<br />0
<br />550,520
<br />0
<br />0
<br />0
<br />Environmental (EIR, Phase I, Asbestos, exc.)
<br />990
<br />47,500
<br />0
<br />47,500
<br />0
<br />0
<br />0
<br />Financial Advisor / Syndication Consultant
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Furnishings
<br />7,146
<br />343,000
<br />0
<br />343,000
<br />0
<br />0
<br />0
<br />Impact Fees
<br />12,011
<br />576,527
<br />0
<br />576,527
<br />0
<br />0
<br />0
<br />Lease -up & Marketing Expenses
<br />1,979
<br />95,000
<br />0
<br />10,000
<br />0
<br />0
<br />85,000
<br />Legal
<br />7,917
<br />380,000
<br />0
<br />300,000
<br />0
<br />0
<br />80,000
<br />MHSA Construction Period Fees
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Operating & Debt Service Reserve (3-mo's / debt)
<br />3
<br />2,939
<br />141,058
<br />0
<br />0
<br />0
<br />0
<br />141,058
<br />Other (Admin, Repro. & Reimb.)
<br />521
<br />25,000
<br />0
<br />25,000
<br />0
<br />0
<br />0
<br />Other (Bank Inspections)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other (Security)
<br />375
<br />18,000
<br />0
<br />18,000
<br />0
<br />0
<br />0
<br />Other (Capitalized Operating Subsidy Reserve)
<br />26,457
<br />1,269,920
<br />0
<br />0
<br />0
<br />0
<br />1,269,920
<br />Other (Jamboree Predevelopment Interest)
<br />833
<br />40,000
<br />0
<br />40,000
<br />0
<br />0
<br />0
<br />Other (Reduced Construction Loan Interest)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other (Specify)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other (Specify)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other (Specify)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other (Specify)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Permit Fees
<br />9,301
<br />446,463
<br />0
<br />446,463
<br />0
<br />0
<br />0
<br />Property Taxes and Insurance
<br />7,917
<br />380,000
<br />0
<br />300,000
<br />0
<br />0
<br />80,000
<br />Relocation
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Replacement Reserve
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Soft Cast Contingenry,
<br />10.00 %
<br />9,191
<br />441,161
<br />0
<br />441,161
<br />0
<br />0
<br />0
<br />Tax Credit Fees (App., Mon., & Res.)
<br />3,979
<br />191,000
<br />0
<br />0
<br />0
<br />0
<br />191,000
<br />Title & R-min
<br />885
<br />42 500
<br />0
<br />42 500
<br />0
<br />0
<br />0
<br />TOTAL SOFT COSTS
<br />127,556
<br />6,12.2,689
<br />0
<br />4,275,711
<br />0
<br />0
<br />1,846,978
<br />DEVELOPER FEE/ OVERHEAD
<br />Developer Overhead
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Develo er Fee
<br />45 833
<br />Z 200 000
<br />0
<br />Z 200 000
<br />0
<br />0
<br />0
<br />TOTAL DEVELOPER FEE / OVERHEAD
<br />45,833
<br />2, 200,000
<br />0
<br />2,200,000
<br />0
<br />0
<br />0
<br />Deferred Developer
<br />Description
<br />Fee and Casts
<br />Total
<br />$191,000
<br />11
<br />1
<br />$25,000
<br />000
<br />•.-.$141,058
<br />•.$1,269,920
<br />Developer Fee
<br />$1,142,536
<br />11 0
<br />Deferred Co 1
<br />1
<br />Defe red Cost 11
<br />1
<br />Deferred
<br />1
<br />Deferred Cost 13
<br />1
<br />Deferred
<br />1
<br />Cost 15
<br />$0
<br />DeferredDeferred
<br />1
<br />Deforre Cost 17
<br />1
<br />TOTAL COSTS
<br />$2,847,014
<br />YES 0
<br />YES 0
<br />YES 15,512,913
<br />YES 0
<br />YES 2,171,80:
<br />YES 339,312
<br />YES 1,440,508
<br />YES 718
<br />NO 0
<br />NO
<br />YES 7
<br />YES 40,000
<br />YES 35,000
<br />YES 693,500
<br />YES 158,140
<br />YES 208,400
<br />YES 550,520
<br />YES 47,500
<br />YES 0
<br />YES 343,000
<br />YES 576,527
<br />NO 0
<br />YES 380,000
<br />YES 0
<br />NO 0
<br />YES 25,000
<br />YES 0
<br />YES 18,000
<br />YES 1,269,920
<br />YES 40,000
<br />YES 0
<br />YES 0
<br />YES 0
<br />YES 0
<br />YES 0
<br />YES 446,463
<br />YES 380,000
<br />YES 0
<br />YES 0
<br />YES 441,161
<br />NO 0
<br />YES 42.500
<br />YES 0
<br />City Council 13 - 84 3/7/2023
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