Item 4 - Low-Income Prop Tx Ex. - Laserfiche WebLink

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USES OF FUNDING I Santa Clara I I I Project Name: Plaza Date: 05/04/04 I I IRS Setaside 20/50 Number of Units: 60 Residential Square Footage: 52,673 Common Areas: 2,019 These two columns are for Commemial/other LIHTC APPLICANTS ONLY Total Square Footage: 54,692 COSTS (A) Cost per Cost as Estimated Gross Original Cost per Square % of Reasonably Expended by Application Unit Foot Total Funding Source Expected Basis Carryover Date Construction Loan Costs/Fees Lender Inspection Fees 6,750 113 0.12 0.1% LIHTC $6,750 $2,700 Lender Title Insurance 30,000 500 0.55 0.4% HOME $30,000 $30,000 Lender Legal Fees 0 0.00 0.0% $0 Loan Fees 39,030 651 0.71 0.5% LIHTC $39,030 $25,5O0 Loan Closing Fees 0 0.00 0.0% $0 Property Taxes (Construction Period) 0 0.00 0.0% $0 Insurance 0 0.00 0.0% $0 Bridge Loan Fees I Bridge Loan Legal 0 0.00 0.0% Bddge Loan Trustee 0 0.00 0.0% Bridge Loan Underwriting 0 0.00 0.0% I Permanent Loan Fees I Perm. Loan Fee 15,000 250 0.27 0.2% LIHTC ~ $5,625 Perm. Loan Closing Fees 0 0.00 0.0%I Tax Credit Fees Tax Credit Fee 34,750 579 0.64 0.4% HOME $34,750 $34,750: Tax Credit Cost Certification 0 0.00 0.0% Tax Credit Legal/Advisor Fee 0 0.00 0.0% Cost of Bond Issuance 0 0.00 0.0% Negative Arbitrage (1.50%) 0 0.00 0.0% Bond Cost Certification 0 0.00 0.0% Other. 0 0.00 0.0% Interest I Construction Period 165,175 2,753 3.02 2.1% LIHTC $156,120 $30,000 Bridge Loan 58,545 976 1.07 0.7% LIHTC ~ $0 Other: 0 0.00 0.0% Other: 0 0.00 0.0% ReserveslContin~lency I Lease Up/Operating 72,000 1,200 1.32 0.9% LIHTC $0 Development 32,000 533 0.59 0.4% HOME $32,000 $3,222 Tenant Relocation 0 0.50 0.0% Deposit to Replacement Reserves 0 0.00 0.0% Contigency Escrow Account (3%) 0 0.00 0.0% Other: rent up reserve 20,000 333 0.37 0.3% $20,000 Other: 0 0.00 0.0% Development Costs Subtotal: $1,621,247 27,021 29.64 20.7% $1,424,972 $838,342 TOTAL PROJECT COST $7,827,308 130,455 143.12 100.0% $7,031,033 $3,433,747 Surplus or Gap (0) Developers Fee Percentage 7.19% FOR LIHTC PROJECTS I Total of the amount to be expended by Carryover Date $3,433,747 I I Divided by Total Project Costs $7,827,308 Equals the percent of estimated cost expended by Carryover Date 43.87% Fall 2003 Funding Pro Forma 2 of 2 OHCS