HomeMy WebLinkAboutAttachment No. 2 HOME Funds ApplicationAttachment No. 2
APPLICATION GENERAL INFORMATION
Program Name:
Westside Infill Transit Oriented Development (WI-TOD)
Name of Organization
Submitting Proposal:
City of National City Housing Authority
Mailing Address:
1243 National City Boulevard, National City, CA 91950
Main Telephone:
(619) 336-4450
Fax:
(619) 336-4451
Type of Organization
(check all that apply):
•
Non -Profit A/
Government ❑ CHDO
■
Faith -Based
Tax ID Number
95-2558328
Dun and Bradstreet
Number (D-U-N-S)
883811150
Program Contact and Title:
Leslie Deese, Executive Director of Housing Authority
Direct Telephone:
(619) 336-4250
Email Address:
Ideese@nationalcityca.gov
Authorized Contact and Title:
Brad Raulston, Executive Director
Direct Telephone:
(619) 336-4450
Email Address:
braulston@nationalcityca.gov
CDBG Funds Requested:
n/a
Minimum CDBG funding
required to complete project:
n/a
National Objective (See pg 4):
1
Performance Measurement
Objective (See pg 5):
Provide Decent Affordable Housing
Performance Measurement
Outcome (See pg 5):
Affordability
HOME Funds Requested
$2,095,492.00
Program Description - Provide a brief description of use to which requested funds would be used
(not to exceed the space provided below).
Fee simple purchase acquisition of approximately 6-acre parcel that will be used for the
development of 109 lower -income apartment units.
Total Number of clients you anticipate serving:
Households:
109
OR
Persons:
Extremely Low
Income
<30% AMI
Low
Income
31-50% AMI
Moderate
Income
51-80% AMI
Non -Low
Moderate Income
81-100% AMI
Disabled
Persons
Female
Head of
Households
12
97
Staff Use Only �//
Date Received: 8' w TJ � Application Complete: l i Incomplete: ❑
/ySi
Received by: &7405 iO/YrL, Application Number:
Method: ❑Mail ❑Hand Delivery
Performance Measurement Objective/Outcome: Eligible Activity:
City of National City - FY 2012-2013 CDBG & HOME Application
11
Attachment No. 2
APPLICATION GENERAL INFORMATION (continued)
1) If the applicant is a partnership or is incorporated, list the names of all partners or all board
members and the Board President.
On file with the City of National City Housing Authority
2) Mission or goals of the organization (Attach a copy of the By -Laws and the Articles of
Incorporation):
On file with the City of National City Housing Authority
3) Does the applicant define itself as a faith -based organization? Yes
4) History of the organization:
No X
On file with the City of National City Housing Authority
5) Prior experience with federal programs:
6)
On file with the City of National City Housing Authority
Program Year
Amount Funded
Program Name
2011
- 2012
$
2010
- 2011
$
2009
- 2010
$
2008
- 2009
$
2007
- 2008
$
7) Describe internal administrative controls to be used, including financial record -keeping
procedures and management controls. Include copy of financial policies.
On file with the City of National City Housing Authority
City of National City - FY 2012-2013 CDBG & HOME Application
12
Attachment No. 2
8) Describe the record -keeping system to be used to maintain program data.
On file with the City of National City Housing Authority
9) Describe the mechanisms to be used to fulfill responsibilities regarding non-discrimination,
equal employment opportunities, and other relevant local, State and Federal requirements.
On file with the City of National City Housing Authority
10) OMB Circular A-133 requires non-federal entities that expand $500,000 or more in a year in
federal awards shall have a single or program -specific audit conducted for that year in
accordance with OMB Circular A-133.
Is the applicant aware of this audit requirement? Yes X No
If the applicant has met the audit threshold in the last three years, or will meet the threshold
as a result of this program/activity, please attach or provide upon completion a copy of the
audit results.
THIS COMPLETES THE APPLICATION GENERAL INFORMATION.
PLEASE PROCEED TO ONE OF THE FOLLOWING SECTIONS:
➢ SECTION A: PUBLIC SERVICE ACTIVITIES (PAGE 14)
➢ SECTION B: PUBLIC FACILITIES & IMPROVEMENTS (PAGE 17)
➢ SECTION C: RENOVATION/ACQUISITION OF EXISTING HOUSING (PAGE 21)
➢ SECTION D: NEW HOUSING CONSTRUCTION (PAGE 25)
City of National City - FY 2012-2013 CDBG & HOME Application
13
Attachment No. 2
SECTION D: NEW HOUSING CONSTRUCTION
1) Property address:
2020 and 2100 South Hoover Avenue
2) Leg& description of property:
On file with the City of National City Housing Authority
3) Do you currently own the property? Yes NoX (If you do not own the property, do
you have an agreement to purchase? Yes NoX (If yes, please attach a copy. If you
do not own the property, list the name and address of the owner(s).
Name: City of National City
Address: 1243 National City Boulevard, National City, CA 91950
Name:
Address:
4) Assessed or appraised value of the property:
To be determined.
5) How many units will be in the project upon completion?
109.
6) How many units will be made exclusively to households within the following categories?
at or below 30% of the median family income (MFI)
12 at or below 50% MFI
at or below 60% MFI
97 at or below 80% MFI
over 80% MFI
7) All projects must include projected completion dates and progress timelines, as identified
below. Projects that do not proceed or meet completion/expenditure timelines may be
canceled with the funding being reallocated.
Insert dates:
Fall 2013 --Receipt of all funding commitments identified for this project
Fall 2013 --Acquisition (if applicable)
N/A --Risk Assessment (if applicable)
Winter 2014 --Plans/specifications prepared
Winter 2014 --Solicitation of bids
Spring 2014 --Bid award
Spring 2014 --Start of construction
Fall 2015 --Completion Date
City of National City - FY 2012-2013 CDBG & HOME Application
25
Attachment No. 2
8) Describe the proposed project.
Development of 109 low- and moderate -income apartment units as first phase of 201-unit
project.
9) Attach a proposed site plan and floor plan of the property. Note: On file with the City of
National City Housing Authority.
10) Attach a 15-year operating income and expense projection for the project and rate of return
on investment. Note: On file with the City of National City Housing Authority.
11)
Proposed monthly rent/sales price of each
unit
On file with the City of National City Housing
Authority
Occupancy restrictions for each unit
(household income in relation to the
median family income)
On file with the City of National City Housing
Authority
Project characteristics (i.e., congregate
care for the elderly, etc.)
On file with the City of National City Housing
Authority
Identification of utilities included in rent
and utilities to be paid by tenant
On file with the City of National City Housing
Authority
This information will be required upon uroiect completion:
Unit number
Unit size (number of bedrooms)
Unit occupancy (vacant or occupied)
Household income in relation to median
family income
Number of people in the household
Race and ethnicity of the head of
household
Household characteristics (elderly,
female -head of household, disabled, etc.)
Total existing monthly rent (including
utilities)
Proposed monthly rent (including utilities)
after renovations
Identification of utilities included in rent
and utilities to be paid by tenant
Type of rental assistance, if applicable
(Section 8 certificate or voucher, other
assistance, no assistance)
12) Provide a cost breakdown for the project. (Davis -Bacon wage rates may apply to CDBG
projects with more than eight units and to HOME projects with more than 11 units.)
Cost estimate supplied by:
Name: The Related Companies of California
Title: c/o Rick Westberg, Project Manager
Address: 18201 Von Karman Avenue, Suite 400
Irvine, CA 92612
City of National City - FY 2012-2013 CDBG & HOME Application
26
Attachment No. 2
13) Are all other funds identified for this project available and/or committed? Yes X No
(If no, please identify which funds are not and when they will be.)
14) What will be the status of your project if you do not receive CDBG/HOME funding, or if you do
not receive the full amount requested?
Inability to purchase site for project development.
15) Is funding available for cost overruns? YesX No
(If yes, please describe the source and how much is available. If no, how will cost overruns be
handled?
Budgets include 10% contingency. Alternate sources of funds also potentially available.
City of National City - FY 2012-2013 CDBG & HOME Application
27
Attachment No. 2
16) Please complete the activity budget/table below.
Column A: List the items for which you anticipate the need for CDBG/HOME funds during the
2011 Program Year.
Column B: Provide the projected request for CDBG/HOME funds.
Column C: Provide the total of other funds to be used.
Column D: List the name(s) of the other funding source.
Column E: List the total item budget.
Column A
Budget Item
Column B
CDBG/HOME
Request
Column C
Other
Sources
Column D
List Name(s) of Other
Sources
Column E
Total
Budget
Personnel
(List Salaried
Position Job Titles)
Fringe Benefits
Delivery Costs
Acquisition
$2,095,492
Development
Physical Inspection
Architectural
Engineering
Rehab Loan Costs
Permits and Fees
Insurance
Legal Fees
Financing
Appraisal costs
Other:
Budget Total
$2,095,492
THIS COMPLETES SECTION D.
GO TO:
➢ APPLICATION CHECKLIST (PAGE 29)
➢ APPLICATION CONFLICT QUESTIONNAIRE (PAGE 30)
➢ APPLICATION CERTIFICATION (PAGE 31)
City of National City - FY 2012-2013 CDBG & HOME Application
28
Attachment No. 2
APPLICATION CERTIFICATION
I certify that I have read and understand all the instructions related to this application and the
information provided is true and correct; the document has been duly authorized by the governing
body of the applicant; and the applicant will comply with assurances, federal, state and local laws &
regulations if funding is approved. I have reviewed the standard subrecipient agreement required
for participation I the CDBG/HOME Program available on the City's website www.nationalcityca.gov.
s1N1-1 113
Signature of Director/Owner Date Signature of Board President Date
Leslie Deese
Executive Director of Housing Authority
Certification must be signed by any and all owners.
Signature of Owner Date Signature of Owner Date
Signature of Director/Owner Date Signature of Board President Date
Signature of Director/Owner Date Signature of Board President Date
City of National City - FY 2012-2013 CDBG & HOME Application
31
Attachment No. 2
SECTION D: NEW HOUSING CONSTRUCTION
QUESTION 10
15-YEAR OPERATING INCOME AND EXPENSE
PROJECTION
Attachment No. 2
STADILIZED CASH FLOW ANALYSIS
Notio(ml City - Phase 1- 11801 1&2&3 - Ring DDA Proform a
Doyelopo.00l Profpmo 1.4
CO0p1nle3 or California
.ed on 3/6/12 al 8:39 AM
Ear
2 3
L051 Changed On. 6/8h011 2.02 PM
7 10 11 12 13 14
INCOME.
Ce4,,s Rew61 Income
Seoaa, 91.aome
lowr31yIncome
0113m Memo
Vacancy@ 5.0%
Voars@ @ 10.016
EP MOTIVE. CROSS INCOME
959,168 981,865 1.(06,461 1,033673 1,059,515 1,016,003 1,113,153 1,140,911 1,169,506 1,)98,744 1,228,712 1,259,430 1.290,916 1,123,319 1,156268
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
73146 6,044 8,245 8451 8,663 8,179 9,101 9,329 9,562 9,801 103346 10,297 10355 10,819 11,089
O 0 0 0 0 0 0 a 0 0 0 0 0 0 0
(15,32161 (193953 (59215; (37,1063 (53,1993 (5.1,74.1) (59.)13/ (57516) (55,95)3 (6);1.,71 (61.9330 467.190 (65,071, (66,783131 (65 06
O 0 0 0 0 0 0 0 0 0 0 0 0 0 0
O 0 0 0 0 0 0 0 0 0 a o 0 0 a
919320 942,113 965,171 990,018 1,014,7M 1,040,131 1,060,141 1 092,7 93 1,120,115 1,141,117 1,176220 1,206,241 1,236397 1.267,307 1,2962990
EXPENSES
A6lvnislnii,. 1.11349) Is 5170) 146165) +49.492) .510291 ,5.8.11(,1 :553361 .37253) .292561 161320) 323477) (95099) (073495) (70515) a73.641)
Matememem 1118 (6.0)4 (332016 (34,3391 (37,9523 (572.101) (64,603 (42;20, (63,960 (66,368, (67,2071 ($5.747) (711601. (7277.11 (73,1943 (76.039, (772191
03c181101 (131.1961 (1•16.131) (121253) (15(•.3471 (162.050) 00 397) (173,566) 1179441) (151."11) (192,436) (199,1713 (100,1423 (2133571 (220,824) (228,513)
Ma'a1(cn,eo 1650101 (5.(3251 158,417) tiAW7.1 4(d.1141 (1.54731 (1.71690) ?;.'r51 172.1741 (7.1.959) (77563) (+02941 03.1(9) (Ye1et, 8) (596133
Salolie 11)5.0(6q 117127251 (1.141.15) rI 19,6771 (154,491 1160,3113 4165;47, 31727581 1127,71.05 (163961) (190,1.111 1197,01(1 (207,900 32112311 (2133241
Taxes (5411) (3J4+)) (5101) (1.1(0) (3.4)3) (5.5111 (50111 (5.7411 (53358) (51175) (OA+15) (0.117) (5.141) (9.444) (6.397)
Growl Least L753A4r, (75001 (341101 (73018.3 (75.14q 033030 (7534411 (73,367l (75,841(0 (75,1100) (75001 ,[oy11 4,{nA0
(73 (753"an (75.(ksu (7.
Ln,00lce 53,00u1 i?6_'251 137.40)) ,769n)) 13(,1.31 141.243) I43.V24) ,44,5333) ,46.981) 147.701) 14:23713 /510193 15207) 154,738) 156654)
Pelting 1f In1D1 36,2101 , 'i.1171 ,0,'(323 010351 17,1261 332701 .71(a43 (7:9013 031:71 15:1(d. IF 3613 /9066, 0.150 .9.7,1,
RepM9ane01004115 l (99,,7107 55.31.13.1 14!,7n7) (102,7/11 (114%370 (11.20691 3113,9321 .117, On 3127,030) 026,1411 3130,7611 4135,3391 (140476) 11.1.1,9701 3.30,053)
TOTAL OPERATING EXPENSES 3663.0501 OF 12311 t3+11681 4715.036) 372, •1)1.1 (7465151 (77133!) 1795.1411 .5193011 (844.7711 s07(.31631 (69)11.1) (926.0131 (95.4.961) 1115+.9931
NET OPERATING INCOME 274,274 277,932 281,504 314,980 268,353 791,613 294.750 297.733 300614 303.30 303.138 308217 310,384 312345 314,047
DEDT SERVICE
Newman. Finacing(T.o60.6 A) (21(:9721 t31(0*7.1 (7109721 (110 72) (110,9721 (1133342) (2103172) (2110711 111!9721 In 471.1 2019701 21n9711 I-.1 097/1 (2104)21 (2 i ( 42w3.1 (xl
Faction 811AP(Tame% D) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
C.0, Fivw Attar D.bt 36n4c. 63,303 66,961 70,537. 74008 77,361 110,641 63,771 16,76E 119642 92,147 94,606 97,245 99,412 101,374 103,115
OCR 1,30 1.12 133 125 127 1.36 1.40 1,41 1.42 IA4 1.45 1.46 1A7 1.48 1.49
SLP Fee
11arl.enhip A4mi,iamlinn Pen
Cog Ploy Altar Fees
(previnu.l(y 01 Section 6 (925%-3378)
ff `-.,v Is Nee Cain Ham Ante Year Stud% 11
.lopearw Amami Ronll(n{ng
Lobed (AFR = 33%)
Lae: Possum From A,uil,blo mach Flow
Owclapet l'eo M000l llamoining
Net Co BA PMe Alice Developer Fea R.p.y..al
(5,000) (5,150) (5305) (5664) (5628) (5,796) (5,970) (6,149) (6334) (6524) 05,720) (6,921) (7229) (7,343) (7,563)
(25,000) (25,750) (26,523) (27318) (28,13S) (28,9121 (29351) (30,747) (31269) (52619) (33,598) (34,606) (35,644) (,36713) (37,815)
13,103 36,061 38,705 41,227 43616 45,863 47,956 49,186 51,639 53,204 54,568 55,718 $6,640 57,311 57,731
46,042 53,791 59,306 65,173 70,767 76,331 81,619 87,220 92,332 97,745 101,848 107,110 112,679 117,314 121,931
O 0 0 0 0 0 0 0 0 0 0 0 0 0 0
O 0 0 0 9 0 0 0 0 0 0 0 0 0 0
D 0 0 D 0 0 0 0 0 0 0 0 0 0 0
D 0 0 D 0 0 0 0 8 0 0 0 0 0 0
33303 36,061 38,705 41,227 41616 45,863 47,956 49,886 51,639 53,204 54,568 55,711 56,640 57218 57,731
Cash Haw Io City TanblkPond loan(14%) 4,738 3,132 3,534 3,190 6,2)1 6,33E 6051 7,127 7,377 7,601 7,795 7,960 1.091 6288 1,248
ChM Flow In LOW ConmwMy Mock Lo9107690) 11,894 12,879 13,123 14,724 15,577 16,310 17,127 17,616 11442 19,001 19,419 19,899 20,221 20.471 20,611
City T,s.ble Ponds loan 114%1
Beginning limn Baton.
haeree. N 0.25%
Cash binn• Po)menl
Ending loan Marne
6,755 ,(4,0 6310242 6320.001 6,079,562 6.08072 0,047,441 6,055,09 6064439 6,071012 6.079533 4030,934 6,196.139 6,101.179 a,10(1.6018 6,114,490
15,001) 15,000 13.000 15,000 15.000 15,000 15,000 15,000 15000 /3,000 15,000 15600 15,000 15,000 15,000
(4.75.1 (5.132) (5,52,3 (5,3.90) (02311 (1.3321 (6,0511 (.127) (7.377) (7.90i) (7.7951 (730)) (1.0711 (6.1E13 (5.2.151
6.010,242 6010001 6,029,562 6,036671 6047,441 6,053,619 6664039 6,071912 6,079,335 6,06,5,934 6,094,139 6,101,179 6,108,041 6,114,900 6,121651
C1116 Cammoally Bonet. Loan (36%)
13egln ina Loan Bobo, 14357.000 14,912,499 15,067476 15630771 15A53/.1.1 10075 691 15,066090 14,117.606 15.137,513 15,156.915 15,175,876 15,194227 15,212413 15230,216 15,247121
In1.7eat 4102510 07293 37436 37318 37.377 37634 37,689 37.742 37,794 37014 37.92 37,940 37,996 38031 38.076 36,120
Cad :7owl'aymrnl (113(41 (13,6797 (132231 (1.1,7/11 (15,5721 1163601 (17,1211 (17,8161 (15,1.121 (19l'vl) {19.101 (19.099, (2n/76I (10;171,
Ending Iron Balance 14,9112,499 15,0177076 15,030(771 15.53624 15475611 15,096,990 15,1170)6 15,137313 15,151965 15,175276 15,194,327 15212,413 15230,216 15,247,121 15,265,320
CIDE Pesposlllon IC Funds Lion (13%)
Beaimblg Len GOA..e 4663612 4656416 4433,277 4447,471 401,217 4,634743 4,627,166 4,62067E 4,613,119 4603,443 4597461 4,589,271 4,580,930 4,572,424 4,563,126
1nbe.lM0.d1% 0 0 0 0 0 0 0 D 0 0 0 0 0 (I 0
Cosh Flew Po)mani l4.997) 17,493) (5,51'S) 10.1643 36,3411 IA9191 17.191) (7,483) 37,746) 17;'8)) 10,113) 5:.)58,) (9493) 0.59P) (9,661)
Ending Loan Balance 4,6516116 4653,277 4647471 4,641,227 46)4,745 4027266 4,620672 4313,189 4,603441 4,597,463 4,519,278 4,510.920 4.572,424 4,563,826 4,555,166
Attachment No. 2
SECTION D: NEW HOUSING CONSTRUCTION
QUESTION 11
UNIT DISTRIBUTION
Attachment No. 2
UNIT DISTRIBUTIpN
National City - Phase I- DOSS 1&2&3 • FTnal 11DA Preforms
Development Profoma 1,4
lTnlated Companies of California
Printed on 6/ /1 I at 1:45 PM
Total
Number income Grass Milky Net Net Rent Monthly Annual Square
071.1n11s Category SF Rent Allowance Rent PerSgFt Rent Rent Unit% Footage
Stadia
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
0 30%TC 0 90 $38 0 n/a $0 SO 0% 0
0 35%TC 0 30 338 0 We S0 10 0°% 0
0 40%TC 0 50 $38 0 Ma S0 S0 0% 0
0 45%TC 0 30 S3B 0 Na S0 SO 0% 0
0 50%TC 0 50 $38 0, da S0 S0 0% 0
0 60%TC 0 SO 338 0 nib 30 S0 0% 0
0 Market 0 50 SO 0 We S0 S0 0% 0
0 Manager 0 50 S0 0 We SO $0 0% 0
0
3 30%TC FLAT 615 S441 S53 3388 80,63 31,164 $13,968 3% 1,545
0 33%1C 615 S0 S53 0 Ma S0 SO 0% 0
5 40%TCFLAT 615 $589 553 $536 30.87 $2,680 132,160 5% 3,075
O 45%TC 615 S0 $53 0 We S0 SO 0% 0
13 50%TC FLAT 615 $736 553 $683 S1.11 $8,879 S106,548 12% 7,995
3 50%TC AND RDA FLAT 615 S736 S53 5683 31.11 32,049 S24,588 3% 1,845
O Market 615 SO S0 0 ,Ja S0 SO 0% 0
O Manasor 615 SD SO 0 Wm SO S0 0% 0
24
3 30%TC FLAT 825 S530 169 S461 50,56 SI,383 S16,596 3% 2,475
2 30%TCT'H 940 55311 S69 8461 $0,49 S922 , 311,064 2% 1,880
5 40%'I'C FLAT 825 5707 S69 S638 50.77 $3,190 338,280 594 4,125
5 40%TCTII 940 $707 569 5638 $0.68 $3,190 308,280 5% 4,709
12 50%TC FLAT 825 $883 569 1804 S0,99 S9,768 $117,216 I I% 9,900
12 50% 1'C TH 940 $883 $69 1814 $0,87 59,768 $ 117,216 I I% 11,280
4 50% TC AND RDA FLAT 825 S649 $69 5780 S0.95 $3,120 337,440 4% 3,300
9 50%TC AND RDA TH 940 $849 569 5780 S0.83 $3,900 $46,890 5% 4,790
0 Me ket 825 SO SO 0 nla 50 30 0% 0
l Manager 940 SO $0 0 n/e SO 30 l% 940
49
4 30%TC TH 1,235 $612 584 6528 $0,43 52,012 S25,344 4% 4,940
O 33%TC 1,235 SO S84 0 IA S0 SO 0% 0
8 40%TC TH 1,233 $816 $84 $732 50.59 S5,856 370,272 7% 9,810
O 45%TC 1,235 S0 $84 0 n/a SO S0 0°% 0
18 50%TC Ili 1,235 S1,020 584 $936 S0,76 516,848 3202,176 17% 22,230
6 50%TC AND RDA TH 1,235 $944 S84 0860 50,70 $5,160 $61,920 6% 7,410
O Markot 1,235 SD SO 0 Ms $o SO 0% a
0 Manager 1,235 S0 S0 0 n/a SO 10 0% 0
36
O 30%TC 0 SD $107 0 We SO 30 0% 0
0 35%TC 0 30 5107 0 We S0 SO 0% 0
O 40%TC 0 SD SI07 0 FA S0 S0 0% 0
O 45%TC 0 50 5107 0 a/n $0 S0 0% 0
O 50%Tc 0 SD $107 0 nia 30 50 0% 0
O 60%TC 0 SD $107 0 da 50 S0 0% 0
O Market 0 50 S0 0 de S0 SO 0% 0
O Manias 0 SO S0 0 da $0 S0 0'% 0
0
Unit Distribution Summary
Summary Income Unite Total % Unit Size Unita Total %
Total SF , 102,520 30%TC 12 ll% Studio 0 0%
Avg. Unit SF 941 35%TC 0 0% 1 Bedroom 24 22%
Monthly Rem 579,989 40%TC 23 21% 2 Bedrooms 49 45%
Annual Rent S959,868 45%TC 0 0°% 3Bedrooms 36 33%
Avg. Ront (excl. manager's) S741 50%TC & RDA 18 17% 4 Bedrooms 0 0%
50%TC 55 51%
Avg. Rant PSF (axcl. mann8cls) S0.79 60%TC 0 0% Toni 109 100%
Bedrooms 230 Market 0 0%
Subtotal 108 100%
Manager 1
Tutal 109
EXHIBIT 1tG1
Page 2 of 6
S:ITRC-DEV\Projects\PROSPEC1lNational City Public Works Center\DDA\EXECUTED DOCUMENTSIELECTRONIC VERSION OF
FILES\DDA v 6 6 11 s x.doc
Attachment No. 2
SECTION D: NEW HOUSING CONSTRUCTION
QUESTION 12
PROVIDE A COST BREAKDOWN FOR THE PROJECT
Attachment No. 2
DEVELOPMENT COSTS & wore LE RAMS DETERMINATION
Notional City - Phase 1- Sags I142&3- Thad DDA Proforma
Development Profonu 1.4
Related Companies oFCollrornia
Printed on 6/7/11 al 1;45 PM
ACQUISITION COSTS
Purohase Prico
Other Acquisition Casts
TOTAL ACQUISITION COSTS
109 units TCAC TCAC
Budget Etiglblc Bllgible Basis
50 0% 0
50,000 0% 0
50,000 0% 0
PROFESSIONAL PEES
Architecture & Engineering 1,962,000 100% 1,962,000
Other Professional / Consuldag 500,000 100`/. 500,000
TOTAL PROFESSIONAL FEES 2,462,000 0% 2,462,000
PEES AND PERMITS 1,090,000 100% 1,090,000
CONSTRUCTION COSTS 0 0% 0
Dcmoli1inn 155,000 0%. 0
OffiiteImproventents 2,100,436 0% 0
Noll-RnldeoLielSwcNrw 0 0% 0
Silo Improvements 2,112,400 100% 2,112,403
Parking Facilities 6,449,724 100% 6,449,724
Landscaping f Common Areas 0 100% 0
Residential Structures 11,140, 00 I00% 13,840,200
Other COrcVewtlon 810,000 100% 810,000
Retail Core +Shell 0 0% 0
Gomel Conditions 1,540,066 10054 1,540,066
Contractor Overhead 770,033 100% 770,033
Conµador Profit 1,201,368 I00% 1,283,388
Co,draclor Insurance 438,019 100% 438,919
Corutruclion Bond Premium 445,502 100% 445,502
Construe -lion Contingency 1,307,213 100% 1,507,283
Residential SOuot.ros -Nan OC 0 100% 0
Construction Management 0 100% 0
TOTAL CONSTRUCTION COSTS 31,652,950 0% 29,157,514
FINANCING COSTS
AcgW5,80n tact Casts 0 0% 0
Gap Loan Coen 100,000 100% 100,000
Constmotlon Lawn Coos100,000 100% 100,000
Cetnlnmlieu Loan Fecs 217,000 100% 217,000
Construction Period intact 667,000 100% 867,000
Post-Cannrue6on Interest 988,000 0% 0
Pcrmment Loon Cob 50,000 0% 0
Permanent Loin Pus 42,000 0% 0
Bond Rammed Costs 200,000 0'h 0
TCAC Pete 64,000 0%r 0
Miac. Finance Costs 0 0% 0
TOTAL FINANCING COSTS 2,628,000 0% 1,284,000
OTHER COSTS
Furnishings, ➢ixtures & Equipment 325,000 10054 325,000
Marketing Costs 175,000 0% 0
Legal Fees 125,090 30 % 37,500
Property Taxes 25,000 75% 18,750
Solt Cost COnlin5e00y 100,000 100% 100,000
Rolooniion Exporter* 0 00/. 0
EnviranamntalInsnraacePolicy 150,000 80% 120,000
Anoounlins /Audit/Other Insolence 700,000 80% 560,600
Developer -Overhead 1,000,000 100% 1,000,000
Doveloper Pus 1,500,000 100% 1,300„000
nonaition/Operating Reserve 500,000 0% 0
other Costs / Raserms 428,014 0% 0
TOTAL OTHER COSTS 5,028,014 0% 3,661,650
TOTAL DEVELOPMENT COSTS
/TOTAL CLICI BLEBASIS
542,910,964 517,694,764
TOTAL BASIS REDUCTION (Amount over At4ustcd Threshold Buie Limit) 0
TOTAL REQUESTED UNADJUSTED BLIGIDLE BASIS 37,694,764
High Cost Aroa Adjustment 110%
TOTAL ADJUSTED ELIOIBLE BASIS 19,003,194
Applicable Fraction 100%
TOTAL QUALIFIED OASIS 49,003,194
Tool Credit Reduction
0%% 0
TOTAL ADJUSTED QUALIFIEDDASIS 49,003,194
EXHIBIT "G11
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