EXHIBIT “C” SOURCES AND USES OF FUNDS
Federal
CDBG
Federal
HOME
Federal
HOME-ARP
Fresno
Housing
Authority
Loan
Public
HRFC
Construction
Loan
GP
Certificated
Credit Sale
Loan
Deferred
Costs
Partners'
Capital
ACQUISITION
Purchase Price 3,000,000$ 3,000,000$ -$ -$ -$ -$ -$ -$ -$ -$ Closing, Title, Recording Costs 759,124$ -$ 759,124$ -$ -$ -$ -$ -$ -$ -$ 3,759,124$ 3,000,000$ 759,124$ -$ -$ -$ -$ -$ -$ -$ Basic Construction Contract 21,850,418$ -$ 1,237,244$ 1,861,632$ 759,124$ 4,500,000$ 13,492,418$ -$ -$ -$ General Requirements 500,000$ -$ -$ -$ -$ -$ 500,000$ -$ -$ -$ Contractor Overhead 900,000$ -$ -$ -$ -$ -$ 900,000$ -$ -$ -$ Contractor Profit 900,000$ -$ -$ -$ -$ -$ 900,000$ -$ -$ -$ Construction Contingency 1,958,666$ -$ -$ -$ -$ -$ 1,958,666$ -$ -$ -$ General Liability 332,901$ -$ -$ -$ -$ -$ 332,901$ -$ -$ -$ 26,441,985$ -$ 1,237,244$ 1,861,632$ 759,124$ 4,500,000$ 18,083,985$ -$ -$ -$ Appraisal 12,000$ -$ -$ -$ -$ -$ 12,000$ -$ -$ -$ Architect/Engineer 525,000$ -$ -$ -$ -$ -$ 525,000$ -$ -$ -$ Environmental Audit 80,000$ -$ -$ -$ -$ -$ 80,000$ -$ -$ -$ Prevailing Wage Monitoring 107,000$ -$ -$ -$ -$ -$ 107,000$ -$ -$ -$ Legal Fees 185,000$ -$ -$ -$ -$ -$ 185,000$ -$ -$ -$ Developer Fee 2,800,000$ -$ -$ -$ -$ -$ -$ -$ 1,260,000$ 1,540,000$ Construction Interest/Fees 2,130,000$ -$ -$ -$ -$ -$ 1,772,893$ -$ 357,107$ -$ Impact/Mitigation Fees 461,239$ -$ -$ -$ -$ -$ 461,239$ -$ -$ -$ Permits & Hookups 125,000$ -$ -$ -$ -$ -$ 104,896$ -$ -$ 20,104$ 6,425,239$ -$ -$ -$ -$ -$ 3,248,028$ -$ 1,617,107$ 1,560,104$ Capital Fees 388,888$ -$ -$ -$ -$ -$ -$ 258,549$ -$ 130,339$ Marketing 100,000$ -$ -$ -$ -$ -$ -$ -$ -$ 100,000$ Relocation 250,000$ -$ -$ -$ -$ -$ -$ -$ -$ 250,000$ Termite Remediation 25,000$ -$ -$ -$ -$ -$ -$ -$ -$ 25,000$ Soft Cost Contingency 274,258$ -$ -$ -$ -$ -$ -$ -$ -$ 274,258$ Furnishings 250,000$ -$ -$ -$ -$ -$ -$ -$ -$ 250,000$ LIHTC Fees 159,720$ -$ -$ -$ -$ -$ -$ -$ 44,100.00$ 115,620$ Market Study 12,550$ -$ -$ -$ -$ -$ -$ -$ -$ 12,550$ Title and Recording 110,000$ -$ -$ -$ -$ -$ -$ -$ -$ 110,000$ Misc 252,750$ -$ -$ -$ -$ -$ -$ -$ 5,000.00$ 247,750$ Operating Reserves 365,520$ -$ -$ -$ -$ -$ -$ -$ 365,520.00$ -$ 2,188,686$ -$ -$ -$ -$ -$ -$ 258,549$ 414,620$ 1,515,517$ 38,815,034$ 3,000,000$ 1,996,368$ 1,861,632$ 759,124$ 4,500,000$ 21,332,013$ 258,549$ 2,031,727$ 3,075,621$ TOTAL DEVELOPMENT COSTS
SUBTOTAL
SUBTOTAL
SUBTOTAL
OTHER DEVELOPMENT COSTS
SUBTOTAL
CONSTRUCTION
Funding Sources
DAVU VILLAGE
DEVELOPMENT
Total Costs