LAKEHOUSE

COMMONS - COMBINED SOURCES & USES

Sources
Equity
Debt
City Subordinate Land Note
Developer Equity
Deferred Developer Fee
FHLB - AHP Funds
LIHTC Equity
AHSC - Cap & Trade - Grant
AHSC - Cap & Trade - Loan
GP Equity
Total
Uses
Land Payment to City
Hard Costs (Based on Projected 100% PLA)
Architecture & Engineering
Professional Services
Environmental Consultant Fees
Insurance
Permits & Fees
Closing Costs and Taxes
Loan Interest and Fees
Financial Advisory Fees
Construction/Perm Loan Fee
Construction Loan Interest
Developer Overhead and Fee
Start-Up and Reserves
Soft Costs Contingency
Total Uses
Return on Cost
NOI
Value Upon Completion: (Cap Rate)
Equity: (Upon Stabilization)
Equity Multiple

Combined (361)
53,307,200
107,673,614
3,300,000
3,000,000
200,000

-
18,493,856
10,946,306
4,485,000

-
160,877,714

Affordable (91)
-
3,103,100
3,300,000
-
200,000

-
18,493,856
10,946,306
4,485,000
1,000
40,529,262

Tower-Market
4,700,000

126,500,000
3,250,000

420,000

305,000

1,275,000

6,561,000

738,136

5,406,278

500,000

1,307,131

3,599,147

7,500,000

3,369,311

852,989

160,877,714

Affordable
3,300,000
28,642,306
1,931,334
339,000

119,300

283,643

1,808,946
20,000

1,947,785
218,329

356,031

1,373,425
1,400,000
433,251

303,697

40,529,262

Combined
8,000,000
155,142,306
5,181,334
759,000

424,300

1,558,643
8,369,946
758,136

7,354,063
718,329

856,031

4,972,572
8,900,000
3,802,562
1,156,686
201,406,976

5.85%
9,266,757

4.50% 205,927,933
45,050,217
1.80

8.51%
281,186

NA
NA
NA

5.82%
9,547,943
NA
NA
NA

TBD

Tower-Market (270)
53,307,200
104,570,514
-
3,000,000

-
-
-
-

Per Unit
147,665
298,265
9,141

8,310

554

-
51,230
30,322
12,424

201,406,976

557,914

Per Unit
22,161
429,757
14,353
2,102

1,175

4,318

23,185
2,100

20,371
1,990

2,371

13,774
24,654
10,533
3,204

557,914