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Sources Uses
<br />FX Residences
<br />Sources and Uses
<br />Development Sources Terms Amount Per Unit Per SF Predevelopment Construction Permanent Percent of Total
<br />Permanent Loan 5.8%, 35 yrs - 0.00 - 0.00%
<br />NPLH Residual Receipts, 8 assisted units 1,562,631 91,919 109.11 1,562,631 20.33%
<br />SNHP Residual Receipts, 13 assisted units 2,047,253 120,427 142.95 2,047,253 26.63%
<br />City of Santa Ana Residual Receipts 1,656,947 97,467 115.70 1,656,947 21.56%
<br />City of Santa Ana Lease 788,000 46,353 55.02 788,000 10.25%
<br />Wells Fargo Grant 25,000 1,471 1.75 25,000 0.33%
<br />OCHFT 832,000 48,941 58.10 712,500 119,500 10.82%
<br />In-Kind 704,963 41,468 49.23 704,963 9.17%
<br />Developer Contribution 70,000 4,118 4.89 70,000 0.91%
<br />Lending Partner 5.05%, 3-month term - - 0.00 -
<br />Construction Loan 5.05%, 24-month term 3,601,268 211,839 251.47 3,601,268 (3,601,268)
<br />Total 7,686,794 452,164 536.75 1,500,500 6,177,678 8,616 100.00%
<br />Surplus/Deficit (0) (0) (0.00)-
<br />Project Predevelopment Construction Permanent Const/Rehab
<br />Development Costs Assumptions Total Per Unit Per SF Eligible Basis
<br />
<br />Acquisition
<br />Property Purchase 788,000 46,353 55.02 788,000
<br />Legal/Broker Fees - 0.00 -
<br />Real Estate Taxes, Insurance - 0.00 -
<br />Title and Recording - 0.00 -
<br />Total Acquisition 788,000 46,353 55.02 788,000 - - -
<br />
<br />Construction
<br />Structures & Site Work 3,518,281 206,958 245.67 3,518,281 3,518,281
<br />General Requirements 4%128,701 7,571 8.99 128,701 128,701
<br />Contractor Overhead 4%128,701 7,571 8.99 128,701 128,701
<br />Prevailing Wage - - 0.00 -
<br />Contractor Profit 4%167,891 9,876 11.72 167,891 167,891
<br />Surety & Bonds 0%- 0.00 - -
<br />General Liability/Builders Risk Ins.2%60,000 3,529 4.19 60,000 60,000
<br />Security 95,000 5,588 6.63 95,000 95,000
<br />Construction Material Increase 12%433,600 25,506 30.28 433,600 433,600
<br />Hard Cost Contingency 8.83%400,000 23,529 27.93 400,000 400,000
<br />Total Construction 4,932,174 290,128 344.40 - 4,932,174 - 4,932,174
<br />Permit & Impact Fees
<br />Planning Fees 108,000 6,353 7.54 108,000 108,000
<br />Plan Check, Permit & Inspection Fees - 0.00 - -
<br />Impact Fees 425,000 25,000 29.68 425,000 - 425,000
<br />Total Permit & Impact Fees 533,000 31,353 37.22 533,000 - - 533,000
<br />Financing
<br />Perm Title/Recording/Escrow 11,500 676 0.80 11,500
<br />Perm Orig. Fees & Expenses 1.0%- 0.00 -
<br />Construction Loan Interest 5.05% at 60% out 12 mos.+3 mo. 100%154,584 9,093 10.79 154,584 108,038
<br />Origination Fee 1.0%36,013 2,118 2.51 36,013 36,013
<br />Taxes During Construction - 0.00 - -
<br />Legal 50,000 2,941 3.49 50,000 50,000
<br />Title and Recording 20,000 1,176 1.40 20,000 20,000
<br />Lender Fees (appraisal, etc.)56,900 3,347 3.97 56,900 56,900
<br />Predevelopment Loan Fee 1.0%- - 0.00 -
<br />Predevelopment Loan Interest 5.05% at 60% out 3 mos.- - 0.00 -
<br />Total Financing 328,997 19,353 22.97 - 317,497 11,500 270,951
<br />Soft Costs
<br />Architecture 50,000 2,941 3.49 35,000 15,000 50,000
<br />Engineering 75,000 4,412 5.24 52,500 22,500 75,000
<br />Appraisal 15,000 882 1.05 15,000
<br />Environmental Studies 15,000 882 1.05 15,000 15,000
<br />Legal- Organization & Loans - 0.00 -
<br />Marketing/Lease-up 15,000 882 1.05 15,000
<br />Furnishings 50,000 2,941 3.49 50,000 50,000
<br />Market Study 9,000 529 0.63 9,000 9,000
<br />Audit/Cost Certification 22,000 1,294 1.54 22,000 22,000
<br />Construction Inspection 15,000 882 1.05 15,000 15,000
<br />Survey 8,000 471 0.56 8,000 8,000
<br />Insurance 58,800 3,459 4.11 58,800 58,800
<br />Financial Consultant 50,000 2,941 3.49 15,000 15,000 20,000
<br />Security 30,000 1,765 2.09 30,000
<br />Soft Cost Contingency 131,990 7,764 9.22 30,000 30,000 71,990 131,990
<br />Total Soft Costs 544,790 32,046 38.04 179,500 251,300 113,990 434,790
<br />Developer Fee 442,000 26,000 30.86 88,400 353,600 442,000
<br />Reserves
<br />NPLH Required Transition Reserve 12 months 57,216 3,366 4.00 57,216
<br />Services Reserve - - 0.00 -
<br />Operating Reserves 4 months of op exp., reserves, debt 60,618 3,566 4.23 60,618
<br />Total Reserves 117,834 6,931 8.23 - - 117,834 -
<br />Total Development Costs 7,686,795 452,164 536.75 1,500,500 5,589,371 596,924 6,612,915
<br />FX Proforma 11/23/2021
<br />EXHIBIT 4
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