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Jamboree WISEPIace PSH 9% - TCAC Application
<br />City of Santa Ana 03/15/23
<br />Project Data
<br />Operating Economic Assumptions
<br />1411 N. Broadway
<br />Vacancy Rate
<br />8.00%
<br />Total Units
<br />48
<br />Income Inflator
<br />2.00 %
<br />Expense Inflator
<br />3.00%
<br />Land Area
<br />0.6 Acres
<br />Tax Inflator
<br />2.00%
<br />Units Per Acre
<br />80.00
<br />QCF/DDA
<br />YES
<br />Construction Loans
<br />Prevailing Wage
<br />YES
<br />Construction Period
<br />20 Months
<br />Loan Amount
<br />15,655,690
<br />Loan Fees
<br />1.00%
<br />4% or 9% Financing
<br />BAD%
<br />Loan Rate
<br />8.000/0
<br />Federal Tax Credit Price
<br />$0.95
<br />Permanent Loans Fee Interest Amortizaton Amount
<br />Permanent Loans 0.75% 6.00 % 420 0
<br />Overhang Loans 1.00% 4.75% 180 0
<br />UNIT MIX
<br />MONTHLY
<br />ANNUAL
<br />AVERAGE
<br />BEDROOMS
<br />SF
<br />UNITS
<br />MGR
<br />PERCENT
<br />AVG
<br />UTILITY
<br />AVG
<br />GROSS
<br />RENT/SF
<br />GROSS
<br />ALLOWANCE
<br />NET
<br />INCOME
<br />PER MONTH
<br />0
<br />650
<br />47
<br />0
<br />98%
<br />340
<br />0
<br />340
<br />191,760
<br />0.52
<br />1
<br />0
<br />0
<br />0
<br />0%
<br />0
<br />74
<br />0
<br />a
<br />2
<br />0
<br />0
<br />1
<br />2%
<br />0
<br />103
<br />0
<br />0
<br />3
<br />0
<br />0
<br />0
<br />0%
<br />0
<br />133
<br />0
<br />0
<br />TOTAL
<br />47
<br />1
<br />1D0%
<br />Net Investor Equity(Fedeml)
<br />68%
<br />20,089,816
<br />418,538
<br />Net Investor Equity (Sate)
<br />0%
<br />0
<br />0
<br />Permanent Loan
<br />0%
<br />0
<br />0
<br />Tanche 8-Loan
<br />0%
<br />0
<br />0
<br />OCHFr
<br />8%
<br />2,480,030
<br />51,667
<br />City of Sant Ana
<br />13%
<br />3,791,697
<br />78,994
<br />City of Santa Ana -COSR
<br />5%
<br />1,464,630
<br />30,513
<br />County ARPA
<br />5%
<br />1,500,000
<br />31,250
<br />Lantl Donation
<br />0%
<br />0
<br />0
<br />Deferred Developer Fee
<br />1%
<br />312,327
<br />6,507
<br />TOTAL SOURCES
<br />USES OF FUNDS
<br />1000/a
<br />29,638,500
<br />617,469
<br />Lard / Acquisition Costs
<br />0%
<br />0
<br />0
<br />Total Hard Costs
<br />18,116,855
<br />377,434
<br />Hard Cost Contingency
<br />5.50%
<br />971,028
<br />20,230
<br />Canstrudion Interest
<br />1,619,335
<br />33,736
<br />Loan Fees
<br />238,557
<br />4,WO
<br />Salt Costs
<br />6,120,273
<br />127,506
<br />Soft Costs Contirgency
<br />8.00%
<br />372,451
<br />7,759
<br />Developer Fee
<br />2,200,000
<br />45.833
<br />TOTAL DEVELOPMENT COSTS
<br />29,638,500
<br />617,469
<br />Stabilized Cash Flow
<br />Gmm Potential Rental income
<br />3,995
<br />191,760
<br />taundry Income
<br />108
<br />5,184
<br />Subsidy Income
<br />9,125
<br />438,000
<br />Vacancy and Collection
<br />(1,058)
<br />(50,796)
<br />EFFECTIVE GROSS INCOME
<br />12552
<br />602,491
<br />Management Fee
<br />780
<br />37,440
<br />Real Estate Taxes
<br />300
<br />14,405
<br />Insurance - Prapaty
<br />550
<br />26,400
<br />Operating Expenses
<br />7,146
<br />342,987
<br />Supportive Services
<br />3,104
<br />149,000
<br />Reserves
<br />360
<br />17,260
<br />TOTAL OPERATING EXPENSES
<br />12,239
<br />587,491
<br />NET OPERATING INCOME
<br />313
<br />15,000
<br />TOTALDEBTSERVICE
<br />NET CASH FLOW 15,000
<br />340
<br />191,760
<br />0.52
<br />30%
<br />47
<br />98%
<br />35%
<br />0
<br />0%
<br />40%
<br />a
<br />0%
<br />45%
<br />0
<br />0%
<br />50%
<br />0
<br />0%
<br />55%
<br />0
<br />0%
<br />60%
<br />0
<br />0%
<br />TOTAL
<br />47
<br />98%
<br />r
<br />Threshold Basis
<br />21,631,101
<br />Eligible Basis
<br />26,111,001
<br />Involuntary Reduction
<br />0
<br />Voluntary Reduction
<br />(6,793,110)
<br />Unadjusted Eligible Basis
<br />19,317,891
<br />Stabilized DEC N/A I
<br />Qualified Basis
<br />DDA/QCF Boost
<br />Credit Rate
<br />Adjusted Qualified Basis (Acquisition)
<br />Credit Rate (Acquisition)
<br />Total Available Annual Credits
<br />Total Requested Credits
<br />Total Available State Credits
<br />Total Requested State Credits
<br />Public Funds
<br />Construction Cost Per Unit =
<br />including General Conditions Profit, GC Bond, PW)
<br />ect Based Vouchers
<br />21,631,101
<br />130 %
<br />26,120,431
<br />9.00%
<br />0
<br />9.00%
<br />2,530,839
<br />2,114,929
<br />5,795,367
<br />O
<br />12,276,858
<br />$321,291
<br />25
<br />
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