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rcy Hous_e .__
<br />;Me._. .
<br />;Louis Martin Residence
<br />19511 S Mills End Road, Anaheim, CA 92804
<br />FINAL -4 rental bedrooms
<br />/1 on -site
<br />manager
<br />l 3 S ummary
<br />Assumes
<br />no prevailing
<br />wages
<br />DHV,ELpPMENT °SCHEDULE -�' .. -n. - - � : =:e
<br />D 1 F NANGIN6 ASSUMPTIONS .a- �-�-
<br />'-
<br />--'
<br />Bedrooms for Rent
<br />4
<br />CONSTRUCTION LOAN:
<br />Manager's Units
<br />1
<br />Construction Loan Interest Rate
<br />5.000%
<br />Total Number of Bedrooms
<br />5
<br />Loan Fee
<br />1.00%
<br />Density Per Acre
<br />Construction Start
<br />PERMANENT LOAN:
<br />Completlon/Cenificale of Occupancy
<br />Permanent Loan Rate
<br />0.000%
<br />Construction Period (Months)
<br />3
<br />Permanent Loan Constant
<br />3.33%
<br />Start of Leasing
<br />Loan Points and Fees
<br />01,020
<br />Units Leased per Month
<br />Debt Service Coverage Ratio
<br />Stabilized Occupancy
<br />Loan Underwriting Term (Years)
<br />30
<br />Lease -Up Period (Months)
<br />Maximum Loan to Value Ratio
<br />75.00°/
<br />Permanent Loan Takeout
<br />Capitalization Rate
<br />6.50%
<br />Total Months - Contt Start to Takeout
<br />Project Value (NOI /Cap Rate)
<br />$ 21,685
<br />NO' USES: OF._FUNDS:";- .-�*�..,'x.e..,e
<br />-.
<br />.
<br />-. -: -.
<br />- � - ._ ,_
<br />�:- - -�
<br />Maximum Loan to Cost Ratio
<br />Cash Available for Debt Service (NOI)
<br />100.00%
<br />$ 1,410
<br />- -
<br />-
<br />Loan to Value Ratio (restricted)
<br />$ 16,263
<br />:.=FL.UP1� ' = COnsWCtloif-`r-.PeYdSanRM; ?"°' _FfRA1.P8irn yh
<br />Permanent Loan
<br />$ _
<br />USES:
<br />Annual Payment
<br />$ _
<br />Actual DSC
<br />Land/Acquisition
<br />$
<br />82,533 $
<br />$
<br />412,663 $
<br />412,663
<br />OTHER DEBT /LOANS:
<br />Redevl Loan
<br />Other Loan
<br />Design & Engineering
<br />$
<br />470 $
<br />2,350 $
<br />2,350 $
<br />2,350
<br />Interest Rate
<br />0.00%
<br />0.00%
<br />Legal/FinanciaVOlher Consultants
<br />$
<br />1,150 $
<br />5,749 $
<br />5,749 $
<br />5,749
<br />Loan Points and Fees
<br />0.000%
<br />0.000%
<br />Permits & Fees
<br />$
<br />500 $
<br />2,500 $
<br />2,500 $
<br />2,500
<br />Loan Term Years
<br />55
<br />0
<br />Furniture/Fixtures
<br />$
<br />4,030 $
<br />20,150 $
<br />20,150 $
<br />20,150
<br />7A. R D : JN- G G ASSU TION5r:
<br />-T
<br />-
<br />Direct Building Construction
<br />$
<br />28,418 $
<br />142,090 $
<br />142,090 $
<br />142,090
<br />Financing Costs
<br />$
<br />2,916 $
<br />14,581 $
<br />14,581 $
<br />14,581
<br />Credit Year
<br />2012
<br />Marketing /General & Administrative
<br />$
<br />13,763 $
<br />68,813 $
<br />68,813 $
<br />68,813
<br />Federal Tax Credit Rate
<br />3.28%
<br />Developer Fees
<br />$
<br />13,498 $
<br />- $
<br />67,490 $
<br />67,490
<br />Slate Tax Credit Rate
<br />0,00%
<br />Hard Cost Contingency
<br />$
<br />2,642 $
<br />13,209 $
<br />13,209 $
<br />13,209
<br />Difficult to Develop%
<br />130.00OA
<br />Soft Cost Contingency
<br />$
<br />1 775 $
<br />8 877 $
<br />8 871 $
<br />8,877
<br />Applicable Fraction
<br />100.00%
<br />Total Project Uses
<br />L.'.'$1b1894
<br />w$ <'7,78,319��$ „7 ;472 <�$ >;fi = -76 ;4F21
<br />Adjusted Eligible Bests
<br />0
<br />Annual Tax Credits
<br />0
<br />SOURCES:
<br />Investor Yield on 99% of Total Credit Allocation
<br />Per Investor
<br />90.00%
<br />Gross Investor Contribution to Lower Tier
<br />0
<br />Tax Credit Equity
<br />$
<br />- $
<br />$
<br />- $
<br />-
<br />Deferred Pay -In on Tax Credit Equity
<br />0
<br />Permanent Loan
<br />$
<br />_ $
<br />_ $
<br />_ $
<br />_
<br />Construction LoanILOC
<br />$
<br />- $
<br />105,179 $
<br />- $
<br />Neighborhood Stabilization Program(NSP) - acquisition
<br />$
<br />41,266
<br />0 $
<br />206,332 $
<br />206,332
<br />Neighborhood Stabilization Program (NSP) - rehab
<br />$
<br />16,628 $
<br />83,140 $
<br />83,140 $
<br />83,140
<br />TCAC Actual Points
<br />Supportive Housing Program (SHP)
<br />$
<br />75,800 $
<br />- $
<br />379,000 $
<br />379,000
<br />TCAC Possible Points
<br />HOPWA
<br />$
<br />18,000 $
<br />90,000 $
<br />90,000 $
<br />90,000
<br />Tiebreaker: Tax Credits per Bedroom
<br />Deferred Developer Fee
<br />$
<br />- $
<br />$
<br />_ $
<br />_
<br />Financing Gap:
<br />$
<br />$
<br />�`
<br />$
<br />_
<br />Total Project Sources
<br />_$ -;tb'{ 694 $ = �L78319 =`$_ 768,473 _$ 758472';
<br />Property Taxes:
<br />Tax Rate
<br />125%
<br />Existing Property Basis (per unit)
<br />0
<br />New Unit Basis (per unit)
<br />R SI IT' 1 9 FAttDABI[ Ak151S
<br />-
<br />Ground Lease:
<br />Return on Ground Lease
<br />0.00/
<br />Mgrs. Units
<br />Inflation Indexes:
<br />0
<br />Bedroom Bedroom!
<br />Shared bath Private be 1BR/1BA
<br />2BR12BA
<br />3BR12BA 48W2BA Total Bedrooms
<br />Income Inflator
<br />2,00%
<br />Income
<br />Expense Inflator
<br />2.50%
<br />25.00% 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />Real Estate Tax Inflator
<br />2.00%
<br />30.00% 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />SHP Income Inflator
<br />2.50%
<br />35.00% 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />50.00% 5 0 0
<br />0
<br />0
<br />0
<br />5
<br />60.00% 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />80.00% 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />Market 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />Total Unit 5 0 0
<br />0
<br />0
<br />0
<br />5
<br />% 100.00% 0.0% 0.0%
<br />0.0%
<br />0.0%
<br />0.0%
<br />Sq. FUUnIt 0 0 0
<br />0
<br />0
<br />0
<br />$ pst
<br />Total Resid
<br />Sq Fl 0 0 0
<br />0
<br />0
<br />0
<br />0
<br />Related Residential Sq. Ft
<br />Laundry/Community Room /Circulaflon
<br />Subtotal Square Feel
<br />-
<br />2,535 5 q .
<br />ft.
<br />Parking
<br />620
<br />Storage
<br />Other Space Total
<br />0
<br />Total Space
<br />3,155
<br />25H -15
<br />
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