DEVELOPMENT BUDGET Aplicant: Housing Visions Consultants, Inc. Project name: Lockpor-Genesee St TOTRIPOIC location: Lockport, New ork PRELIMINARY PROJECT SUMMARY 133 Units OF Affordable Rental Housing ACQUISITION 1 Land 2 Structures 3 TOTAL - Land/Structures SOFT COSTS 4 Appraisal 5 Housing Consuant 6 Survey 7 Soll Borings 8 Asbestos & Lead Testing, Abatement Monitoring 9 Architecture/Engineering Fees 10 Constructon Manager 11 Legal Fees 12 Non-Profit Developers Allowance 13 Cost Certification Audit 14 Insurance 15 Taxes 16 Interim Interest 17 Closing Costs 418 Title and Recording Fees 19 Relocation Expenses 20 LIHC Application Fees 21 UHC Credit Allocation Fees 22 Other DHCR Fees 23 Other: Phase TESA 23 Other: Eneray Star Labeled Homes 23 Other: Mutt-Famly Performance 23 Other: Green Building Educator 23 Other: Markee Study 23 Other: Bldg8Grounds Maintenance 23 Other: Secure Bldgs 23 Other: General 24 TOTAL - Soft Costs ‘CONSTRUCTION 25 Site Work 26 Of Site Work 27 Demaltion 28 Environmental Remediation 29 Other: Asbestos & Lead Removal 30 Subéotal Ske Prenaration 31 Residental 32 Community Service or Cie Space 33 Commercial 34 General Contractors Insurance 35 Berfosmance Bond Premium 36 Subtotal Contractors Cost 37 General Requirements 38 Builder's Overnead 39 Builder's Profit 40 TOTAL - Construction 41 Project Contingency 42 Developer's Fee 43 TOTAL - Development Cost WORKING CAPITAL, 44 Initial Operating Defic 77 cents Equity 188,599 149.405 338,004 11,050 ° 37,000 31946 81215 425,500 ° 54,67 ° 8,500 33,000 22,000 387,161 0 69,038 0,000 2,000 43,560 0 5,900 29,700 0 2,500 4500 ‘500 1,000 4.000 1,283,235, 406,381 ° 72,096 ° 35.200 513,677 4,493,197 0 ° 68,110 9 5,074,984 194,603 197,330 493.325 3,960,242 335,500 ‘09/077 8,826,458Aoplicont: Housing Visions Consutants, nc. eee eats ‘Project name: Lockport Genesee St. TOOT IOR iccaton: Lanibot- New Yak——— PRELIMINARY PROJECT SUMMARY 33 Units OF Affordable Rental Housing “77 cents Equity 45 Supplemental Mamt. & Macketing 0 46 Purchase of Maintenance & Other Equipment 0 47 Other Working Captal s2a7Z 48 Total Working Capital: 43,477 PROJECT RESERVES 49 Capitalization of Operating Rese 88,265 50 Capitalization of Repacement Reserve ° 51 Reser for adapting units © 52 Total Project Reserves 88,265 53 TOTAL - PROJECT COST 8,958,200 4 syncaton Cost: 45,000 55 Sanercip pense: uty Documents (KCDC Atorey) ° COC Aset Menagement Fee ° CDC Euity Advisory Fee ° ‘Adustment for MET" Eauty Powders 9 55 Total Partnership Expenses 45,000Applicant: Housing Visions Consutans, Inc Perera Project name: Lockpor-Genesee St. TOTTI Location: Lockport, New York PRELIMINARY PROJECT SUMMARY 3 Units OF Affordable Rental Housing 7 cents Equity FINANCING INFORMATION Equity Contribution 53a, Cash 5,590,200 See lines 55: and 551 below. land 9 TOTAL - Equity 5,590,200 TERM Sources of Construction Financing TOTAL TYPE INT. RATE (Months) S40 a, KeyBonk National & 6100402 Loan Prime +150 24 B. Deferted Dev F "550,000. Loan ¢: Deferred Fees & Working Capital 131,742 be nse = Loan 0.00% © 2.221.056 Equity ‘TOTAL - Construction Financing 9,003,200 55 Sources of Permanent Financing (Years) 2. HHA 1,000,000 Loan 0.00% © 30¥15 by. NYS HOME 2,400,000 Loan 1.00% © 30¥rs First Niagara Loan © Loan 0.00% 30 Yrs «. City contribution 50,000 0.00% e 0 0.00% f ° 9. Managing Members Equity 559. Equity See line 53a above by Investing Member Equty 5,552,641 Equity See line 53a above TOTAL - Permanent Financing ‘9,003,200