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ta <br />www.FinanceDTA.com <br />IX FINANCE COSTS <br />SECTION IX <br />FINANCE COSTS <br />Finance costs include property taxes, construction loan interest, construction loan fees, and <br />third -party fees. We assumed an interim loan rate of 7.0% and a loan fee equal to 1.0%. We <br />were not provided with a debt -to -equity structure, so we assumed there would be no initial <br />equity. However, the Developer would fund 10% of the costs, as incurred. <br />Table 48: Finance Cost Estimate <br />Property Taxes <br />$161,035 <br />$48,127 <br />$39,013 <br />$248,174 <br />Construction Loan Interest <br />$28,438,394 <br />$8,499,035 <br />$6,889,589 <br />$43,827,018 <br />Construction Loan Fee <br />$6,745,695 <br />$2,016,003 <br />$1,634,237 <br />$10,395,935 <br />Equity Lender Financing <br />1 $35,345,124 <br />$10,563,165 <br />$8,562,839 <br />$54,471,128 <br />Related Bristol at 3600 South Bristol Street <br />Land Residual Value Study Report <br />Exhibit 10 <br />September 27, 2023 <br />33 <br />