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<br />EXHIBIT 3
<br />WISEPlace PSH
<br />Sources & Uses City of Santa Ana
<br />Version: 9% - TCAC Application
<br />Revised: 02/08/23
<br />PROJECT SOURCES
<br />BEGINNING BALANCE ENDING BALANCE Deferred Developer Fee and Costs
<br />PERMANENT SOURCES
<br />Net Investor Equity (Federal)
<br />Net Investor Equity (State)
<br />Permanent Loan
<br />PERCENT
<br />68%
<br />TOTAL PER UNIT TOTAL PER UNIT CONSTRUCTION SOURCES
<br />Net Investor Equity (Federal)
<br />Net Investor Equity (State)
<br />Construction Loan
<br />TOTAL Description
<br />TCAC Monitoring Fee
<br />Title/Recording/Escrow
<br />Permanent Loan Fees
<br />Cost Cert / Audit
<br />Survey
<br />Total
<br />1
<br />2
<br />3
<br />4
<br />5
<br />6
<br />7
<br />8
<br />9
<br />20,089,816 418,538 0 0 1
<br />2
<br />3
<br />4
<br />5
<br />6
<br />7
<br />8
<br />9
<br />$3,013,472 $191,000
<br />0%
<br />0%
<br />0 0 0 0 $0 $9,500
<br />0 0 0 0 $15,584,322 $0
<br />Tranche B - Loan 0%0 0 0 0 Tranche B - Loan $0 $25,000
<br />Permanent Loan (2)
<br />Accrual Mortgage
<br />Variable Interest Mortgage
<br />OCHFT
<br />City of Santa Ana
<br />10 City of Santa Ana - COSR
<br />11 County ARPA
<br />0%0 0 0 0 Permanent Loan (2)
<br />Accrual Mortgage
<br />Variable Interest Mortgage
<br />OCHFT
<br />City of Santa Ana
<br />10 City of Santa Ana - COSR
<br />11 County ARPA
<br />$0 $8,000
<br />0%0 0 0 0 $0 Operating Reserve
<br />Cap Oper Subsidy Reserv
<br />Developer Fee
<br />$141,058
<br />0%0 0 0 0 $0 $1,269,920
<br />8%2,480,030 51,667
<br />83,050
<br />0 0 $2,480,030
<br />$3,986,407
<br />$1,142,536
<br />14%
<br />4%
<br />3,986,407 0 0 Legal (Perm)$60,000
<br />1,269,920 26,457
<br />31,250
<br />1,772
<br />0
<br />0
<br />0
<br />0
<br />$0 Deferred Cost 10
<br />Deferred Cost 11
<br />Deferred Cost 12
<br />Deferred Cost 13
<br />Deferred Cost 14
<br />Deferred Cost 15
<br />Deferred Cost 16
<br />Deferred Cost 17
<br />TOTAL COSTS
<br />$0
<br />5%1,500,000 $1,500,000
<br />$2,847,014
<br />$0
<br />12 Deferred Developer Fee
<br />13 General Partner Equity
<br />14 Land Donation
<br />0%85,072 85,072 1,772 12 Deferred Developer Fee and Costs
<br />13 General Partner Equity
<br />14 Land Donation
<br />$0
<br />0%0 0 0 0 $0 $0
<br />0%0 0 0 0 $0 $0
<br />15 Other 0%0 0 0 0 15 Other $0 $0
<br />16 Interest on Surplus Funds
<br />17 NOI During Construction
<br />TOTAL SOURCES
<br />0%0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />16 Interest on Surplus Funds
<br />17 NOI During Construction
<br />TOTAL SOURCES
<br />$0
<br />$0
<br />$0
<br />$00%
<br />100%29,411,245 612,734 85,072 1,772 $29,411,245 $2,847,014
<br />PROJECT USES
<br />TOTAL
<br />PER UNIT
<br />NEW OR
<br />ACQUISITION REHAB COST
<br />ELIGIBLE
<br />HISTORIC
<br />ELIGIBLE
<br />STATE
<br />NOT
<br />ELIGIBLE
<br />INCLUDED
<br />50% TEST
<br />AMOUNT
<br />INCLUDEDUSES OF FUNDS TOTAL
<br />LAND / ACQUISITION COST
<br />Land at $0 Per Acre or $0.00 Per SF
<br />Existing Structure
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0 0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />YES
<br />YES
<br />YES
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Other Acquisition Costs
<br />TOTAL LAND / ACQUISITION COST
<br />HARD COSTS
<br />Hard Cost Residential 18,024,033 323,186
<br />0
<br />45,246
<br />7,069
<br />28,276
<br />403,777
<br />15,512,913
<br />0
<br />2,171,808
<br />339,312
<br />1,357,247
<br />19,381,279
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />14,882,093 0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />630,820 YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />0
<br />15,512,913
<br />0
<br />2,171,808
<br />339,312
<br />1,357,247
<br />19,381,279
<br />Site Improvements 0
<br />88,315
<br />0
<br />General Conditions, Profit & Overhead
<br />GC Bond / Insurance / Letter of Credit
<br />Hard Cost Contingency
<br />14.00%
<br />2.00%
<br />8.00%
<br />2,083,493
<br />339,312
<br />1,357,247
<br />18,662,145
<br />0
<br />TOTAL HARD COSTS 719,135
<br />FINANCING COSTS
<br />Construction Interest (7.25%) at Perm. Rate + 125bp
<br />Bridge Interest at
<br />7.25%
<br />10.00%
<br />30,011 1,440,508 0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />530,658 0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />909,850 YES
<br />YES
<br />NO
<br />NO
<br />YES
<br />NO
<br />0
<br />1,440,508
<br />15 718 0 718 718
<br />0Construction Loan Fees 5,543
<br />0
<br />0
<br />0
<br />266,044 266,044 0
<br />0
<br />0
<br />0
<br />Permanent Loan Fees
<br />Bridge Loan Fees
<br />4% Related Costs / Cost of Issuance
<br />TOTAL FINANCING COSTS
<br />0
<br />7
<br />0
<br />0
<br />7
<br />0
<br />7
<br />0
<br />35,568 1,707,277 796,709 910,567 1,441,233
<br />SOFT COSTS
<br />Accounting & Audit 833
<br />729
<br />40,000
<br />35,000
<br />693,500
<br />158,140
<br />208,400
<br />550,520
<br />47,500
<br />0
<br />343,000
<br />576,527
<br />95,000
<br />380,000
<br />0
<br />141,058
<br />25,000
<br />0
<br />18,000
<br />1,269,920
<br />40,000
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />40,000
<br />35,000
<br />693,500
<br />158,140
<br />208,400
<br />550,520
<br />47,500
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0 YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />NO
<br />40,000
<br />35,000
<br />693,500
<br />158,140
<br />208,400
<br />550,520
<br />47,500
<br />0
<br />Appraisal / Market Study
<br />Architecture (Architect, Landscape Architect)
<br />Civil Engineering
<br />0
<br />14,448
<br />3,295
<br />4,342
<br />11,469
<br />990
<br />0
<br />0
<br />Construction Manager 0
<br />Consultants ( CM, Geo, LEED, Utilities, exc.)
<br />Environmental (EIR, Phase I, Asbestos, exc.)
<br />Financial Advisor / Syndication Consultant
<br />Furnishings
<br />0
<br />0
<br />0 0
<br />7,146
<br />12,011
<br />1,979
<br />7,917
<br />0
<br />343,000
<br />576,527
<br />10,000
<br />300,000
<br />0
<br />0 343,000
<br />576,527
<br />0
<br />Impact Fees
<br />Lease-up & Marketing Expenses
<br />Legal
<br />MHSA Construction Period Fees
<br />Operating & Debt Service Reserve (3-mo's / debt)
<br />Other (Admin, Repro. & Reimb.)
<br />Other (Bank Inspections)
<br />Other (Security)
<br />0
<br />85,000
<br />80,000 YES
<br />YES
<br />NO
<br />380,000
<br />00
<br />3 2,939
<br />521
<br />0
<br />375
<br />0 141,058 0
<br />25,000
<br />0
<br />0 YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />YES
<br />NO
<br />25,000
<br />00
<br />18,000
<br />0
<br />40,000
<br />0
<br />0 18,000
<br />1,269,920
<br />40,000
<br />0
<br />Other (Capitalized Operating Subsidy Reserve)
<br />Other (Jamboree Predevelopment Interest)
<br />Other (Reduced Construction Loan Interest)
<br />Other (Specify)
<br />26,457
<br />833
<br />1,269,920
<br />0
<br />00
<br />0 0 0 0 0
<br />Other (Specify)0 0 0 0 0
<br />Other (Specify)0 0 0 0 0
<br />Other (Specify)0 0 0 0 0
<br />Permit Fees 9,301
<br />7,917
<br />0
<br />446,463
<br />380,000
<br />0
<br />446,463
<br />300,000
<br />0
<br />0 446,463
<br />380,000
<br />0
<br />Property Taxes and Insurance
<br />Relocation
<br />80,000
<br />0
<br />0Replacement Reserve
<br />Soft Cost Contingency
<br />Tax Credit Fees (App., Mon., & Res.)
<br />Title & Recording
<br />TOTAL SOFT COSTS
<br />0 0 0 0
<br />10.00%9,191
<br />3,979
<br />885
<br />441,161
<br />191,000
<br />42,500
<br />6,122,689
<br />441,161
<br />0
<br />0
<br />191,000
<br />0
<br />441,161
<br />0
<br />42,500
<br />4,275,711
<br />YES
<br />0
<br />42,500
<br />5,695,631127,556 1,846,978
<br />DEVELOPER FEE / OVERHEAD
<br />Developer Overhead 0
<br />45,833
<br />45,833
<br />0
<br />2,200,000
<br />2,200,000
<br />0
<br />0
<br />0
<br />0
<br />2,200,000
<br />2,200,000
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />YES
<br />YES
<br />0
<br />0
<br />2,200,000
<br />2,200,000
<br />Developer Fee
<br />TOTAL DEVELOPER FEE / OVERHEAD
<br />TOTAL USES 612,734 29,411,245 0 25,934,565 0 0 3,476,680 28,718,143
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