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					Bayview Village                                        32 units per quarter                                                                     Hayward Area Planning As

Pro Forma Input Summary                                                           8/27/2011 Absorption time table
                                                                                                         per week   per month per quarter   per year
KEY PARAMETER INPUTS:                                                                       very slow      1.97         9         26          102
                                                                                               slow       2.46         11         32          128
 Residential Product Mix and Base Price                                                        moderate   3.28         14         43          171
      Unit Type                                Qty              Liv Space          Price     moderate     3.94        17.1        51          205
      Studio - Flat in Mixed Use Bldg                   40               441        $170,000 fast         4.92         21         64          256
      One Bedroom - Condo                              150               523        $225,000
      Two Bedroom One Bath - Condo                     186               795        $285,000
      Two Bedroom Two Bath - Condo                     312               859        $290,000
      Three Bedroom -Condo                             170              1,499       $355,000
      Four Bedroom - Condo                             102              1,702       $445,000
      Five Bedroom - Townhouse                          64              2,115       $560,000
         Modify Living Space figures above column by                    100%
         Modify Price figures above by                                                  100%
         Total # of units=                           1,024 User can vary these inputs
 Direct Costs
      Component                               Cost
      Modular Fabrication, 2 Br                        $79 Per square foot of living area
      Modular Fabrication, 4 Br                        $69 Per square foot of living area
      Photovoltaic System, 2 Br                  $19,500 Per system
      Photovoltaic System, 4 Br                  $25,350 Per system
      Solar Hot Water, 2 Br                       $4,000 Per system
      Solar Hot Water, 4 Br                       $5,600 Per system
      Café                                           1,344 sf
      Store                                          2,688 sf
      Community Center                               7,800 sf


 Project Costs
      Component                             Unit Cost             Qty
      Earthwork                                         $10           53,240 Per cubic yard moved, soil. Assume soil was originally 1.5 feet deep, now overburden
      Hard Rock Excavation                              $35         102,260 Per cubic yard excavated, hard rock. Blasting or heavy equipment; loading, moving.
      Perimeter Retaining Walls                         $20           5,570 Per square foot of surface area of retaining wall
      Storm Drain Pipe                                  $60          7,500 Per lineal foot of storage pipe
      C3 Storage Drain Pipe                             $80           3,694 Per lineal foot of storage pipe
      General Site Landscaping                           $6         330,890 Per square foot of landscaped area, including irrigation and soil amendment
      Contingency                                      20%                   Percentage of total site improvement budget
      Developer Overhead                          $40,000                    Average per quarterly expense of developer's office space, office equipment, staff salaries, construction


 Event Triggers
      Event                                    Value             Value 2     Allowable Range
      Build Cycle                                         2                  1 to 4 Quarters, time to build a unit
      Quarterly Absorption Rate                          32                  8 years building. Residential units sold each quarter, No less than 10. Goes to Timing B6
      Trigger to construct next phase                  80%                   Can be 10% to 80%, representing the percent of units sold in the current phase to trigger start of next ph
      Start of Sales                                      4                1 Year plus quarter that sales begin, must be no sooner than 2 years after entitlements are obtained
      Entitlements Obtained                               1                0 Can be no sooner than 1 year plus 2 quarters, representing the time required to obtain all government d


 Selling Expenses
      Item                                     Rate
      Model Operating Expense                     $15,000 Per quarter, represents mortgage payments, utilities, cleaning and maintenance, property taxes on 6 model homes
      Sales Commission Rate                            1.8% Percent of revenue paid to dedicated sales team (either employees or consultant-specialists)
      Broker Coop                                      1.0% Percent of revenue paid to independent brokers representing buyers, this is a blended rate of commission times proportio
      Advertising                                $10,000 Per quarter expense for website, brochures, newspaper ads, etc.


 Interest and Taxes
      Property Tax Rate                             1.50%
      Development Loan Interest Rate                5.25%                    2% above 10 year fixed average as of 8/10/2011 from website
                                                                             www.bankrate.com/finance/mortgages/bankrate-com-averages.aspx
NOTEWORTHY FIXED INPUTS
      Model setup costs are $80,000 per model
      Design phase will take 4 quarters to complete
      Land purchase maintenance deposits are paid quarterly at a rate of .4% of purchase price, applicable to price
      Land purchase initial deposit is 2.5% of purchase price, applicable to price
Land purchase will close upon entitlements
Each phase improvements are constructed over a 5 quarter period
The store and Café start construction as part of the MU Bldg in phase 1. Other MU block buildings of phase 1 are based on sales.
The Community Center and its Manager Units start construction 1 year after start of Phase 5 site improvements.
Equity Investor payouts are hard-entries…see Cash Flow Statement
New comparables information used to lower land purchase price
Adjusted grading volumes from Toste June 10, 2011, 164,600 CY of Cut and 146,400 CY of Fill. Assume 155,500, of which 53,240 is soil, remainder of 102,260 is hard rock.
 Initial grading gvolumes from Toby Dec. 3, 2010, 125,000 cu yds cut and 106,000 cu yds fill based on a 3% slope in the in-between area.
Wall design for east side of knoll depends on geotechnical; exposed rock may be OK. Walls sf from Toste Jul 19 2011 email
Cash on hand and invesor payout adjusted exogenously.
Hayward Area Planning Association


      project    years
       1,024     10.0
       1,024      8.0
       1,024      6.0
       1,024      5.0
       1,024      4.0
p, now overburden
 loading, moving.




 quipment, staff salaries, construction trailer, stationery, etc.




10. Goes to Timing B6
 urrent phase to trigger start of next phase's site improvements
  after entitlements are obtained
me required to obtain all government discretionary approvals.




 operty taxes on 6 model homes


 ed rate of commission times proportion of total sales completed with brokers
mainder of 102,260 is hard rock.
Bayview Village                                                                                    Hayward Area Planning Association

Income Statement
                                                     Project-Wide                            Per Unit
Category - Item                                    Amount            Subtotal        Units   Quantity   Per Unit    Basis (Worksheet)

REVENUE
    Residential Sales - Base                $325,620,000                        D.U.           1,024    $317,988    Sales
      Residential Sales - Options                $1,827,625                     D.U.           1,024      $1,785    Sales
      Sales Incentives                            -$512,000                     D.U.           1,024       -$500
        NET REVENUE                                           $326,935,625


COSTS
  Land Development Costs
      Land Acquisition                          $22,235,909                     D.U.           1,024     $21,715    Land
      Site Improvements                         $27,371,260                     D.U.           1,024     $26,730    Site Imp
      Project Level Government Fees              $1,178,856                     D.U.           1,024      $1,151    Proj Fees
      Project Level Consultants                  $4,198,100                     D.U.           1,024      $4,100    Proj Cons
        Subtotal: Land Development Costs                       $54,984,125


  Building Costs
      Direct Costs - Residential-Base+mgr   $128,799,565                        D.U.           1,024    $125,781    Bldgs
      Direct Costs - Green Energy               $31,571,557                     D.U.           1,024     $30,832    Energy
      Direct Costs - Residential-Options    $    1,503,000                      D.U.           1,024      $1,468    Sales
        Direct Costs - Café, Store          $      458,121                      sf             1,832       $250     Bldgs
        Direct Costs - Community Center     $    1,370,508                      sf             7,800       $176     Bldgs
      Building Permit Fees                      $35,339,426                     D.U.           1,024     $34,511    Bldg Fees
      Building Consultants                       #REF!                          D.U.           1,024    #REF!       Bldg Cons
        Subtotal: Building Costs                                    #REF!
 Village Bus                                     $2,560,000     $2,560,000      D.U.           1,024     $2,500     Bus
  Selling Expenses                                                                                                                      % of Revenue:
      Model Expenses                              $975,000                      D.U.           1,024       $952     Cash Flow
      Sales Commissions                          $5,884,841                     D.U.           1,024     $5,747     % of Revenue            1.8%
      Broker Coop Fees                           $3,269,356                     D.U.           1,024     $3,193     % of Revenue            1.0%
      Advertising                                 $370,000                      D.U.           1,024       $361     Cash Flow
      Sellers Closing Costs                      $1,307,743                     D.U.           1,024     $1,277     % of Revenue            0.4%
        Subtotal: Selling Expenses                             $11,806,940


  Other Expenses
      Property Taxes & Assessments               $2,124,834                     D.U.           1,024     $2,075     Cash Flow
      Insurance                                  $2,288,549                     D.U.           1,024     $2,235     % of Revenue            0.7%
      Developer Administration/Overhead          $1,880,000                     D.U.           1,024     $1,836     Cash Flow
      Warranty Reserve                           $3,269,356                     D.U.           1,024     $3,193     % of Revenue            1.0%
       Subtotal: Other                                          $9,562,739
      Subtotal: Hard Costs                                          #REF!


      Loan Interest                              #REF!              #REF!       D.U.           1,024    #REF!       Cash Flow


        NET COSTS                                                   #REF!


NET OPERATING INCOME                                                #REF!
PRETAX PROFIT MARGIN                                                #REF!

Equity ROI                                           19.1%
First Payout Received in                             Year 6
b952cd85-160e-4057-9671-f8e39ab39b52.xlsx Income
Last Payout Received in                 Year 12                                                                              4/21/2012 12:52 PM
Maximum Debt Exposure                            #REF!
sociation




        % of Revenue:




                   b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Income   4/21/2012 12:52 PM
    Bayview Village                                                                                       Hayward Area Planning Association

    Sales
                                                  RESIDENTIAL SALES - BASE (Note 1)                                                            Adjusted for energy

    Dwelling Unit Description                Quantity            Base Price     Revenue by Unit     Size (SF)    Price per SF                  Base Price

    Studio Condo in Mixed Use Bldg                 40             $170,000            $6,800,000         441            $385                    $147,932
    One Bedroom Condo in Mixed Use Bldg           150             $225,000          $33,750,000          523            $430                    $201,763
    Two Bedroom One Bath - Condo                  186             $285,000          $53,010,000          795            $358                    $257,888
    Two Bedroom Two Bath - Condo                  312             $290,000          $90,480,000          859            $338                    $261,976
    Three Bedroom -Condo                          170             $355,000          $60,350,000        1,499            $237                    $317,857
    Four Bedroom - Condo                          102             $445,000          $45,390,000        1,702            $261                    $404,965
    Five Bedroom - Townhouse                       64             $560,000          $35,840,000        2,115            $265                    $514,080

      Total Dwelling Units                      1,024
      Total Revenue - Base Residential                                             $325,620,000

                                               RESIDENTIAL SALES - UPGRADES (Note 2)

    Upgrade Description                         Units     %       Avg. Cost            Total Cost      Price        Revenue          Markup

    Interior Upgrades
     Granite Countertops                          205 20%           $1,500             $307,500      $1,875         $384,375             25%
     Upgraded Cabinets                             52    5%         $7,000             $364,000      $8,750         $455,000             25%
     Molding Package                               21    2%         $1,500               $31,500     $1,950          $40,950             30%
     Technology Wiring Package                     52    5%         $3,500             $182,000      $4,550         $236,600             30%
     Upgraded Floor Coverings                     103 10%           $6,000             $618,000      $6,900         $710,700             15%

      Total Cost - Upgrades                                                           $1,503,000
      Total Revenue - Upgrades                                                                                    $1,827,625

         TOTAL: REVENUES                                                                                                        $327,447,625

    NOTES
    Note 1: Pricing is based on an in-house informal market survey of resales in Hayward, including consulting with local real estate brokers.
    Pricing for these units is adjusted upwards reflecting the significant new house premium buyers are willing to pay in this built-out locale.
    Note 2: Pricing for upgrades is based on the industry practice of applying a percentage markup to expected costs. "%" is an estimate
    of proportion of buyers opting for the particular upgrade.
    Note 3: The Community Center is the common facility for the Bayview Village Homeowners Association. It will deeded to the HOA at no cost.
    Note 4: The store and café will be deeded to and owned by the HOA, leased to operators, and managed to reduce HOA fees.
    The cost is part of the price of the units.




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx               Sales                                                                   4/21/2012 12:52 PM
Association



              Adjusted for energy

                          Price per SF

                                $335
                                $386
                                $324
                                $305
                                $212
                                $238
                                $243




                   b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Sales   4/21/2012 12:52 PM
Bayview Village                                                                           Hayward Area Planning Association

Land Acquisition
Property Address of AssemblagePhysical Description                   APN                Units                Unit Price     Qty       Amount

Main Bayview Site (Note 1)      Raw Land                        445-0180-001-00         Acres                  $591,419 29.42 $17,399,555
1175 Overlook Ave. (Note 2)                                     445-0170-020-01
1199 Overlook                   House                                                   Per House              $409,500       1      $409,500
1187 Overlook                   House                                                   Per House              $409,500       1      $409,500
1175 Overlook                   House                                                   Per House              $409,500       1      $409,500
Overlook Ave. (Note 2)          Vacant lot                                              Per Vacant Lot         $122,850       1      $122,850
1155 Palisade Ave. (Note 2)                                     445-0170-038-03
1155 Palisade                   House                                                   Per House              $409,500       1      $409,500
                                Vacant
Palisade/Overlook/Carlos Bee (Note 2) lots                                              Per Vacant Lot         $122,850       4      $491,400
Palisade (Note 1)               Paved Street              N/A: Street ROW Vacation      Acres                   $32,967    0.36       $11,868
1174 Overlook (Note 2)                                        445-0170-017-01
1174 Overlook                   House                                                   Per House              $409,500       1      $409,500
1138 Palisade                   House                                                   Per House              $409,500       1      $409,500
1198 Overlook Ave. (Note 2)     Boarded up house                                        Per Br'd House         $122,850       1      $122,850
Overlook (Note 2)               Vacant lot                                              Per Vacant Lot         $122,850       1      $122,850
Overlook (Note 1)               Paved Street              N/A: Street ROW Vacation      Acres                   $32,967    0.96       $31,648
1138 Overlook (Note 2)                                        445-0170-034-01
1138 Overlook                   House                                                   Per House              $409,500       1      $409,500
1139 Palisade                   House                                                   Per House              $409,500       1      $409,500
25096 Carlos Bee Blvd. (Note 2) Boarded up house                                        Per Br'd House         $122,850       1      $122,850
 Subotal: Land Purchases                                                                                                          $21,701,871 DJ uses 27,235,909

Land Transaction Item                                                                   Units                Unit Price     Qty     Amount
Land Purchases                   30% paid by equity                                                                             $21,701,871
Buyer Closing Costs                                                                     % of Purchases                       1%    $217,019
Legal: Purchase Agreements                                                              Lump Sum               $100,000       1    $100,000
RE Broker: Negotiations, Establish Pricing                                              % of Purchases                       1%    $217,019

  TOTAL: LAND ACQUISITIONS                                                                                                        $22,235,909 DJ uses 28,256,659


NOTES
Note 1: Raw land value is based on an average list price of representative large parcels in the East Bay in 2010 from two websites, as reported
in table below. (Source: Landwatch.com, ziprealty.com, 10/20/2010)

Property Description             City                  Price                           Size (ac)        Price per acre
Landwatch, over 10 acres:                              http://www.landwatch.com/
Search for vacant land 10 acres or more in Alameda and Contra Costa counties
Rural - vineyard                 Livermore                                $1,500,000              18.63        $80,515
Developable, ~21 units           Oakland                                  $1,300,000              20.28        $64,103
Subdivide for 2 lots             Nr Brentwood                               $490,000              10.07        $48,659
ZipRealty:                                             http://www.ziprealty.com/
Search for vacant land 10 acres or more in Oakland, Castro Valley, Hayward, Union City, and Fremont
                              1 Castro Valley                             $1,500,000              45.50        $32,967
                              2 Castro Valley                             $1,699,000              77.00        $22,065
                              3 Oakland                                   $1,288,000              20.90        $61,627
                              4 Oakland                                     $998,000             135.80         $7,349
                              5 Oakland                                     $888,000              22.10        $40,181
                              6 Oakland                                   $3,300,000              13.70       $240,876
                              7 Fremont                                   $2,999,888              17.80       $168,533
                              8 Castro Valley                               $615,000              21.70        $28,341
                              9 Castro Valley                             $1,375,000             104.00        $13,221
                             10 Castro Valley                             $2,300,000             115.00        $20,000
                             11 Castro Valley                             $1,899,000             159.70        $11,891
                             12 Castro Valley                               $248,000              10.30        $24,078
                             13 Castro Valley                               $999,800              69.80        $14,324
                             14 Oakland                                     $999,000              20.30        $49,212
                             15 Fremont                                   $3,400,000             126.00        $26,984
                             16 Fremont                                   $4,000,000              57.00        $70,175
Average of Comparable Raw Land Parcels Listed                            $31,798,688           1,065.58        $29,842
Median of Comparable Raw Land Parcels Listed                                                                   $32,967
Standard deviation (Huge: bigger than average or median)                                                       $58,450
Alternative valuation based on Dobbel Ave.
                  27355 Dobbel Hayward                                      $150,000               0.25       $591,419

Note 2: House value is based on Data Quick web site for June 2011, $/SqFt for zip code 94542 of $207
Vacant lot uses a rule-of-thumb that a buildable lot should be about 30% of the house cost.
Boarded up houses are assumed to be 30% of house cost.



b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                Land                                                                                      4/21/2012 12:52 PM
http://www.dqnews.com/Charts/Monthly-Charts/SF-Chronicle-Charts/ZIPSFC.aspx

Community Zip                  Date                   $/SqFt                    Median Sq Ft      Median Price
Hayward 94542                         Jun-11                   $207                 1,800           $409,500

Estimated Sq Ft of Overlook houses             feet                   by feet             sq ft
1138 Overlook                                    38                        48            1,824
1139 Tamalpais                                   30                        58            1,740
1174 Overlook                                    36                        52            1,872




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx              Land                                                      4/21/2012 12:52 PM
Bayview Village
Site Improvements
                                                                            from Inputs
Category - Line Item                                                Units   Unit cost         Qty       Amount       Subtotal


Site Preparation and Field Expense
      Clear and Grub                                                Ac         $5,000            24    $120,000
      Mobilization                                                  LS        $60,000             1     $60,000
      Demolish or move houses                                       EA        $30,000            10    $300,000
      Palisade, partial street removal (Note 1)                     SF           $3.00       2,240       $6,720
      Utility relocation                                            LF           $150         500       $75,000
      Erosion Control                                               site     $200,000             1    $200,000
      Utilities                                                     years        $300             8      $2,400
      Debris Recycling                                              years      $2,000             8     $16,000
      General site maintenance, cleanup & repairs                   years      $5,000             8     $40,000
        Subtotal: Site Preparation and Field Expense                                                                $820,120


Grading ( Note 2)
      Soil volume estimate                                          CY             $10     $53,240     $532,400
      Hard rock blasting & grading cut to fill                      CY            $35     $102,260    $3,579,100
      Over-excavation of hard rock                                  CY            $35      20,000       $700,000
      Grinding Bayview aggregate for onsite base                    CY             $2      20,000        $30,000
      Perimeter Soil-Nail Retaining Walls                           SF            $20       $5,570      $111,400
      Catchment Fence                                               LF            $18         550         $9,900
      Catchment Wall                                                LF           $400         350       $140,000
      Pad fine grading , 281 res. buildings, C. Center, CB          EA         $1,000         283      $283,000
        Subtotal: Grading                                                                                          $5,385,800


Concrete and A.C.
      3" A.C. over 6" A.B. Overlook Extension (Note 3)              SF              $8       3,760      $30,080
      3" A.C. over 6" A.B. for car ports for 100 cars               SF              $7      16,120     $112,840
      3" A.C. over 6" A.B. for car share/rental area                SF              $7       2,970      $20,790
      3" A.C. over 6" A.B. for 21 spaces public prking              SF              $7       3,591      $25,137
      Pervious walkways, 12' wide H-20 req. (Note 4)                SF             $10     127,360    $1,273,600
      3.5" A.C. over 14.5" A.B. (TI = 6.5) - busway, 24' wide)      SF             $11      15,720     $172,920
      Driveway cut 2 at 20' wide (H-20 req.) 6" PCC over 3" A.B     SF             $15        192        $2,880
      Street curbs and gutters                                      LF             $20        600       $12,000
        Subtotal: Concrete and A.C.                                                                                $1,650,247



b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                Site Imp                           13                                  4/21/2012 12:52 PM
Bayview Village
Site Improvements
                                                                              from Inputs
Category - Line Item                                                  Units   Unit cost       Qty       Amount       Subtotal


Storm Drain System (Note 5)
      Small storm drain inlets to storage cylinders (pipes)           EA         $2,500       172      $430,000
       Reinforced Concrete Pipe (24") with 4" outlet                  LF             $60    $7,500     $450,000
       C3 Reinforced Concrete Pipe (24")                              LF             $80    $3,694     $295,520
       Storm drain manholes                                           EA         $4,000       100      $400,000
         Subtotal: Storm Drain System                                                                              $1,575,520


Sanitary Sewer
       Manholes                                                       EA         $4,000          40    $160,000
       8" San Sewer (xRCP)(PVC)                                       LF             $65     3,972     $258,180
       8" San Sewer Connector Line (Extra Deep)                       LF             $85     1,600     $136,000
       Connect to Existing                                            EA         $1,500           1      $1,500
       6" PVC lateral w/ double cleanout                              EA           $700       283      $198,100
         Subtotal: Sanitary Sewer                                                                                   $753,780


Water System
       8" distribution main                                           LF             $80     8,600     $688,000
       Water meter box                                                EA           $400       953      $381,200
       D.U. Service Lateral                                           EA         $1,000       905      $905,000
       Building Service Lateral                                       EA        $10,000           4     $40,000
       Detector Check Valves                                          EA         $5,000          94    $471,667
       Water Valves                                                   EA         $2,000          15     $30,000
       Fire hydrants                                                  EA         $4,000          30    $120,000
         Subtotal: Water System                                                                                    $2,635,867


Dry Utilities
       Joint trench                                                   LF           $200      7,500    $1,500,000
       PG&E: electric mains, meter w/ service laterals                Meter      $2,200      1,024    $2,252,800
       Rule 20 Undergrounding                                         Pole      $25,000           5    $125,000
       Satellite dish feed and site security w/service laterals       LF             $10     7,500      $75,000
       Low-height street and walkway lights                           EA         $2,500       188      $468,750
         Subtotal: Dry Utilities                                                                                   $4,421,550



b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                  Site Imp                         14                                  4/21/2012 12:52 PM
Bayview Village
Site Improvements
                                                                                      from Inputs
Category - Line Item                                                        Units      Unit cost              Qty       Amount            Subtotal


Landscaping and Miscellaneous
        Common Area Landscaping and irrigation                              SF                 $9         117,925     $1,061,325
        Village Square/park                                                 SF                $15           3,857       $57,855
        Other Parks                                                         SF                $10          81,938      $819,380
        Gate, path, footbridge across creek to Highland Blvd.               SF                $20             200         $4,000
        Entry sign / monument                                               EA           $35,000                  1     $35,000
        Front yard and walkway landscaping                                  SF                 $6        $330,890     $1,985,340
        trees                                                               EA              $175              104       $18,200
        Other landscaping (tot lot)                                         EA           $30,000                  1     $30,000
        Street signs                                                        EA              $300                 68     $20,400
        Survey Monuments                                                    LS            $1,000                 30     $30,000
        Striping                                                            day           $5,000                  1       $5,000
        Offsite Traffic Signals (Note 6)                                    EA         $250,000                   6   $1,500,000
          Subtotal: Landscaping & Miscellaneous                                                    .                                   $5,566,500


Contingency                                                                 %           20.00%         22,809,384     $4,561,877       $4,561,877


            TOTAL: SITE IMPROVEMENTS                                                                                                  $27,371,260




Notes
Note 1: Some of Palisade and Overlook become owned by the project. See Note 6. Palisade mostly becomes road and busway; some becomes part of site.
Note 2: See scoping plan for grading. The scoping plan produces 133,085 cu yds of cut and 106,264 cu yds of fill (James Toby, Senior Project Manger, Lea and Braze, Autocad analysis, Oct. 18, 2010). With available cut in great
excess of initial fill, drainage and utility trench depth can be improved, adjustments to grade are easier, and hard rock can be covered. A grading plan would be developed during entitlement. A small area south of about 300'
elevation has 8% to 16% slopes that cannot be changed much, but already has utilities in the street. The large Bayview pit on the north mostly needs about three to five feet of fill to get depth for utility trenches and 2% slopes
for drainage, with a deeper part on the northwest needing more fill. A knoll with scenic views on the midwest has elevation that will be lowered to create a 8 to 12 percent walking grade. About 80 percent of the project has
easy walking grades below 3.5%. An area between the small southern area and the pit has overburden and bedrock that needs to come down and will mostly or entirely fill the large pit to the north. Some cut is dirt (surface
soil and piles of overburden) and some is hard rock, some of which may need to be ground for good soil. Short stretches of utility trenches (on the knoll and in the in-between area) will have to be in hard rock. (The 7.5 minute
Geo Survey contour lines are pre-Bayview and can't be used, but the pit is outlined.)
Note 3: 100 covered parking spaces for leased parking and additional spaces for shopping and drop off/pick up parking are on Overlook.

Note 4: Roads, parking, busway, and major walkways allow fire trucks, garbage trucks, etc. See data on acres tab. Walkways would use something easy on the feet. www.rubbersidewalks.com may work.




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Bayview Village
Site Improvements
                                                                                      from Inputs
Category - Line Item                                                        Units      Unit cost              Qty       Amount            Subtotal
Note 5: Based on civil engineer's estimate dated 1/12/2010, based HydroCAD estimates (10 year event, 3 hour total time event, .01 minute time intervals) for each building cluster type. and for habitat use. Pipes in courtyard hold
storm bursts and trickle out through 4" outlet into city drains. There will also be about 6 metered low-flow discharge points into the creek with the rest below walkways and streets.

Note 6: Palisade and Overlook are now public ROW. The City would abandon Palisade east of Overlook and it would become part of the busway. QV would have an easement with PG&E to use its ROW for the rest of the busway.
Palisade on the west and Overlook from Palisade to Carlos Bee continue as public ROW with parking on the east side and public travel lanes on the west side. The City would abandon Overlook north of Palisade and it would be
used for QV parking and a drop off lane for rental cars and taxis. Left turns coming up C Bee onto Overlook would be blocked. Further up, where the bus lane comes onto C Bee from the PG&E ROW, a left turn lane would be
created for the bus with a signal controlled by the bus allowing it to stop downhill traffic and turn left to come uphill into a new bus merge lane, then C Bee to the campus. Bus access from the east, going downhill, would turn
onto the busway; auto access would turn in at Overlook. Bus and auto access from the west, going steeply uphill, would use Palisade from Mission Blvd. This plan eliminates any traffic going up Bee from crossing any downhill
traffic. This plan requires 3 lights for the bus at the busway and Bee intersection.




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                           Hayward Area Planning Association



Comments



Main Bayview site largely free of trees, structures, debris
Includes construction trailer, temp power setup, fencing
8 occupied houses; 2 boarded up houses
14' x 365', sides of existing street, preserve pavement


Includes temporary silt basins to be built first.
construction electricty and water




Per cubic yard moved, soil. Assume soil was originally 1.5 feet deep, now overburden
Per cubic yard excavated, hard rock. Blasting or heavy equipment; loading, moving.
Add soil and aggregate as needed over hard rock
Supplement soil volume to meet need on surface
Per square foot of surface area of retaining wall



Average building footprint =1,492 sq ft




Overlook extension
Carport stalls are 9x18, 170 sq ft each




Crosses from busway to Main Way and Knoll Way
No vertical curbs. Shallow swales as needed.




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                           Hayward Area Planning Association



Comments



4/ cluster for 43 building clusters. Clean Water Program
For most building clusters
Length of walkways and streets to storm mains on Overlook,
Palisade, and Carlos Bee Blvd.




Considers hard rock trenching cost
Portions to be bore & jacked


One per bldg




1 meter for studios
1/ unit wet tap


Will need to include at most major buildings.
at end of water line




2'w x5'deep + 6 conduits
Cost shown is net of refunds


HOA maintained equipment (from dish to D.U.'s)
Placed at 40' intervals along walkways and roads




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                  Site Imp   18   4/21/2012 12:52 PM
                                                 Hayward Area Planning Association



                   Comments



                   Includes biofiltration features
                   High intensity use area calling for identity hardscaping


                   100 sq ft 200/sq ft



                   15 gallon trees, # to equal the number of street lights
                   Based on estimator's recent Pacheco project. 3000 sq ft


                   Standard survey monuments




ecomes part of site.
Project Manger, Lea and Braze, Autocad analysis, Oct. 18, 2010). With available cut in great
d. A grading plan would be developed during entitlement. A small area south of about 300'
 th mostly needs about three to five feet of fill to get depth for utility trenches and 2% slopes
  be lowered to create a 8 to 12 percent walking grade. About 80 percent of the project has
me down and will mostly or entirely fill the large pit to the north. Some cut is dirt (surface
nches (on the knoll and in the in-between area) will have to be in hard rock. (The 7.5 minute




e something easy on the feet. www.rubbersidewalks.com may work.




                   b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                       Site Imp         19   4/21/2012 12:52 PM
                                                 Hayward Area Planning Association



                   Comments
nute time intervals) for each building cluster type. and for habitat use. Pipes in courtyard hold
eek with the rest below walkways and streets.

 e busway. QV would have an easement with PG&E to use its ROW for the rest of the busway.
 anes on the west side. The City would abandon Overlook north of Palisade and it would be
up, where the bus lane comes onto C Bee from the PG&E ROW, a left turn lane would be
erge lane, then C Bee to the campus. Bus access from the east, going downhill, would turn
 om Mission Blvd. This plan eliminates any traffic going up Bee from crossing any downhill




                   b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                        Site Imp        20   4/21/2012 12:52 PM
Bayview Village                                                                                               Hayward Area Planning Association

Project Consultants
Phase - Consultant                 Work Product                                               Units      Unit $     Qty         Amt          Subtotal

Feasibility Phase Consultants
       Real Estate Investment      Feasibility Package, Pro Forma Financial Statements              LS    $20,000    1           $20,000
       Feasibility Consultant
       Attorney or Finance         Private Placement Memorandum, Business Entity                    LS    $25,000    1           $25,000
       Professional                Formation Documents
       Real Estate Appraiser       Appraisals for Bayview site, adjacent houses               Per Rprt     $1,500    15          $22,500
      Marketing Specialist         Marketing Study: Pricing / Absorption Rate                       LS    $10,000    1           $10,000
      Environmental Engineer       Phase 1 Environmental Site Assessment                            LS     $3,000    1            $3,000
      Geotechnical Engineer        Preliminary Report on seismic and soil conditions                LS    $10,000    1           $10,000
      Building Contractor          Provide verification of construction cost estimates              LS     $5,000    1            $5,000
        Subtotal: Feasibility Phase Consultants                                                                                                $95,500

Entitlement Phase Consultants
       Project Manager             Project Management (Note 1)                                Month        $8,000    12          $96,000
      Environmental Planner        Environmental Impact Analysis (Note 2)                     Month       $18,000    12         $216,000
      Biologist                    Biological assessment (Note 3)                             LS          $20,000    1           $20,000
      Arborist                     Tree Survey                                                LS           $5,000    1            $5,000
      Traffic Engineer             Onsite/Offsite Traffic Impacts and Mitigations             LS           $6,000    1            $6,000
      Dry Utility Consultant       Concept Dry Utilities Plan (Note 4)                        LS          $50,000    1           $50,000
      Land Planner                 Site Plan; General Plan Amendment and Zone Change          LS          $10,000    1           $10,000
                                   (Note 5)
      Architect                    Site Plan Illustrations, Streetscapes (Note 6)             LS          $40,000    1           $40,000
      Landscape Architect          Concept landscape plans (Note 7)                        LS             $36,000    1           $36,000 x
      Civil Engineer               Preliminary Grading and Tentative Map, Hydrology Study, LS             $84,500    1           $84,500
                                   Public Utility Study (Note 8)

      Attorney                     Development Agreement                                      LS          $50,000    1           $50,000
      Reimbursables                Plan printing, Photocopies, Courier                        LS          $10,000    1           $10,000
        Subtotal: Entitlement Phase Consultants                                                                                               $517,500


Design Phase Consultants
       Project Manager             Project Management (Note 1)                                Month        $8,000    12          $96,000
      Geotechnical Engineer        Design-Level Geotechnical Report (Note 9)                  LS          $70,000    1           $70,000
      Civil Engineer               Final Map, Civil Improvement Plans (Note 8)                D.U.           $900   1,024       $921,600
      Dry Utility Consultant       Joint Trench Plans                                         D.U.           $300   1,024       $307,200
      Landscape Architect          Landscaping Construction Documents (Note 7)                D.U.           $200   1,024       $204,800
      Biologist                    Permit Applications (Note 10)                              LS          $30,000    1           $30,000
      Structural Engineer          Retaining Wall Plans                                       LS          $30,000    1           $30,000
      DRE Consultant               DRE Applications, Seller's Disclosure Package, HOA         LS          $20,000    1           $20,000
                                   Budget, Bylaws
      Stormwater Specialist        Prepare SWPPP, Stormwater Control Plan                     LS           $8,000    1            $8,000
      Attorney                     Investor Communications, Misc Legal Counsel                LS          $25,000    1           $25,000
      Other                        Other studies, reports, plans as needed                    LS          $30,000    1           $30,000
      Reimbursables                Plan printing, Photocopies, Courier                        LS          $40,000    1           $40,000
        Subtotal: Design Phase Consultants                                                                                                   $1,782,600


Site Improvement Phase Consultants
        Site Manager              Onsite Project Management (Note 11)                         Quarter     $24,000         32    $768,000
      Attorney                     Investor Communications, Misc Legal Counsel                LS          $25,000           1    $25,000
      Interim HOA Manager          Interim HOA Operations                                     LS           $6,000           1     $6,000
      Construction Staking         Set property corners, construction Staking, As-Built Plans, LS        $350,000           1   $350,000
                                   horizontal control, Grading, Streets and Utilities



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Bayview Village                                                                                                                     Hayward Area Planning Association

Project Consultants
Phase - Consultant                       Work Product                                                       Units             Unit $         Qty           Amt         Subtotal

         Civil Engineer                  Observation, Field Revisions to Plans, interim erosion             LS                 $25,000             1       $25,000
                                         controls, manage Best Management Practices (BMPs)

         Dry Utilities Consultant        Coordinates with PGE, SBC, Comcast, Dish, needs to know du                                 $50         950        $47,500
                                         CAT-5, fiberoptic, dish, cable, etc. Street lights
         Geotechnical Monitoring         Observe Grading, Paving, Trench Bedding, etc.           Month                          $6,000           18       $108,000
         HazMat Consultant               Lead/asbestos survey/report prior to demolition                    LS                  $5,000             1         $5,000
         Biologist                       Preconstruction Surveys, construction monitoring                   Year                $4,000             6       $24,000
         SWPPP Maintenance               Inspect site, Update SWPPP, Prep annual report                     Year                $3,500             6       $21,000
         Water Laboratory                water sampling                                                     Each                    $50         100          $5,000
         Site Security                   Prevent Theft, Vandalism, Trespassing                              Year               $36,000             8      $288,000
         Landscape Architect             Observe landscaping, Irrigation installation, plant material Year                     $15,000             7      $105,000

         Reimbursables                   Plan Printing, Field Office Supplies, Computers                    LS                 $25,000             1       $25,000
           Subtotal: Site Improvement Phase Consultants                                                                                                               $1,802,500


             TOTAL: PROJECT CONSULTANTS                                                                                                                               $4,198,100

Notes:
Note 1: Coordinates other consultants, interfaces with city staff, manages the work, budget and schedule for Environmental Analysis, General Plan Amendment, Zone Change,
Site Plan Application, Grading, Utility and Drainage Plan, Floor Plans and Elevations, Tentative Map, Final Map, and Development Agreement. The Site Plan has 11 parts; the
Project Manager does Site Plan part 11 and consultants do the other parts. The Project Manager manages general administrative functions such as accounting, financial
analysis, insurance. and legal (except where shown separately) for the whole project. Project manager gets bonding and Subdivision Permit, conducts bidding, oversees
contracts and executes Operations and Maintenance Agreement for stormwater with City. Project manager gets "will serve" letters from utilities: PG&E, Comcast/AT&T, and
City, and easements and use permits from PG&E for use of its right-of-way. $12-15k: Art May, Keystone Development Group, Emeryville, phone, 12/21/09


Note 2: Prepares CEQA documents, manages public comment and response. Hayward's 238 Program EIR reviewed this property and approved a designation and zoning in
support of a QV type of project. The EIR covered most issues so a Focused Project EIR would tier off the 238 EIR. Consultant is hired by city based on bids. Consultant likely to
subcontract with a traffic engineer and may subcontract with a geotechnical engineer, biologist, sound engineer, or archeologist.

Note 3: Biological assessment 6, protocol survey for endangered species 10, wetland delineation 4. Patrick Kobernus, Coast Range Ecology, 415-404-6757, email, 12/25/2009

Note 4: The Dry Utilities Consultant coordinates with PGE, SBC, Comcast, Dish, needs to know CAT-5, fiberoptic, dish, cable, etc. Sunny Antonio, utility consultant at BkF. Plan
includes dry trenching, service to all buildings, and street lights and is integrated into the GUD Plan.
Note 5: Bid by Jill Williams, KTGY, Jan 29 10: site plan, building types, and design (8 building types) - $85,000 to $125,000. Use bldg type 13 x 8= $104k total

Note 6: An architect by rule of thumb would charge 1.5% of building costs for plans, elevations; working/construction drawings; blueprints, floor plans, and construction
support, during entitlement, design, and some inspection of construction by building contractors. For this project, Zeta (the modular fabricator) acts as consultant for
entitlement and design, including architectural costs. Silverman Dec. 09. 6 unit types, 4 elevations/type = 24 elevations

Note 7: Native, drought resistant landscaping. Estimate by Gary Lamon, The Guzzardo Partnership, SF, 415-433-4672, 12/22/09
Note 8: More detailed scope: Initial Site Review; Topographic and boundary surveys of land streets, utilities, tie-ins, elevations, property lines, and easements; Computer
generated Site Layout , 3 Supplemental Reports: Offsite wet utility adequacy, preliminary hydrology study, preliminary storm water study; Site Plan Application, Grading,
Utility and Drainage (GUD) Plan, Vesting Tentative Map. Design also includes Conditions of Approval, Subdivision Permit, Engineer's Estimate, misc. documents and plans.


Note 9: Letter proposal from Kamran Ghiassi, AGS, Dec. 7, 2009. $83,000 for geotechnical reports: The Phase 1 Environmental Assessment is part of Investment, shown on the
Investment tab. Phase 2 involves one day of drilling of 5 to 6 borings 20 to 30 feet deep, engineering supervision, and lab tests leading to a report with recommendations for
grading, structures, and drainage.

Note 10: Applications to: Army Corps of Engineers, SF Bay Regional Water quality Control Board, CA Dept. of Fish and Game, US Fish and Wildlife Service. Preconstruction
survey, bio-permitting for outfall structures

Note 11: Manages property and construction: execution of Site Preparation Plan, consultants, contractors, inspectors and building, to end of project. Manages general
administrative functions, including performance bonds, insurance, legal and setting up the initial HOA, and site security. The Site Preparation Plan includes plan for
demolitions, utility relocations, trailer, lay down area, and mobilization of equipment to start work on site.




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Bayview Village                                                           Hayward Area Planning Association

Project Consultants
Phase - Consultant         Work Product                      Units   Unit $     Qty      Amt       Subtotal




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                   b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Proj Cons   26   4/21/2012   12:52 PM
Bayview Village                                                                                                                               Hayward Area Planning Association

Project Level Fees
Phase - Fee                                                                                                       Units                       Unit $        Qty                 Total


Entitlement Phase Fees (Paragraph # shown from Hayward Master Fee Schedule)
        Pre-application meeting (p.1)                                                                                   LS                   $1,000                 1                   $1,000
        Environmental Assessment Consultant Oversight (p.4) (Note 1) (Note 2)                                       Per hour                   $106                 50                  $5,300
        General Plan Amendment [for area west of Overlook Ave.] (p. 5)                                              Per hour                   $106                 50                  $5,300
        Zone Change (for area west of Overlook Ave.) (p.12e)                                                        Per hour                   $106                 50                  $5,300
        Site Plan Review (includes Planned Develoment fees) (p.13)                                                  Per hour                   $106                500               $53,000
        Vesting Tentative Map (p. 21)                                                                               Per hour                   $106                500               $53,000
        Final Map, improvement plan check                                                                           Per hour                   $106                500               $53,000
        Development Agreement, filing fee (p. 27)                                                                       LS                      256                  1                   $256
        Development Agreement, staff time to process                                                                Per hour                   $106                100               $10,600
        Fire District Pre-Application/General Plan Review/Code Assistance                                          application                 $821                  2                  $1,642
        Fire District Planning/Engineering Referrals (HWD)                                                          meeting                    $821                  1                   $821
         Subtotal: Entitlement Fees                                                                                                                                                 $189,219


Design and Site Construction Phases - Fees SPLIT?
        Demolition, Commercial/Residential                                                                          Per bldg                   $365                 10                  $3,650
        City engineering staff - preconstruction services (Note 3)                                                  Per hour                   $106                  6                   $636
        City engineering staff - inspections                                                                        Per hour                   $106               2000              $212,000
        Construction Water                                                                                         {Demand}                                                             $4,000
        2" Irrigation Services                                                                                        Each                 $10,000                   2               $20,000
        Irrigation Water Meters with Radio Read                                                                       Each                 $11,670                   2               $23,340
        Underground Fire Service Plan Check and inspection, pdf p. 57, per plan, $1,847                             Per plan                 $1,847                 11               $20,317
        Materials Bond                                                                                               Note 4             $3,915,690                2.5%               $97,892
        Performance Bond                                                                                             Note 5           $23,418,460                 2.5%              $585,462
        Alameda County Flood Control Review                                                                             LS                 $10,000                   1               $10,000
        State Water Board Construction Fee                                                                          Per year                 $1,159                 10               $11,590
        State Water Board Notice of Termination Fee                                                                     LS                     $500                  1                   $500
        Final Map County Recorder’s Fee                                                                                 LS                     $150                  1                   $150
        CC&Rs County Recorder's Fee                                                                                     LS                     $100                  1                   $100
          Subtotal: Engineering/Construction Phases - Fees                                                                                                                          $989,637


             TOTAL: PROJECT LEVEL FEES                                                                                                                                            $1,178,856


Notes
Note 1: The hourly rate for time in the Planning Dept. varies by employee, including benefits, plus an hourly overhead. The $106 (from Fee Schedule p. 31 top) shown is for estimating. The
hourly rate in the Engineering Division varies by employee, including benefits, with no extra hourly overhead. Fire will charge for the Pre-Application meeting. I assume a second meeting
after Fire review of plans. need to see actual charges from large applications from Finance Dept. And Public Works for Wittek, Stonebrae, and Cannery for total time, hourly rate by
employee, on each item by payer for last 5 years.
Note 2: Environmental Assessment: An existing programmatic EIR on State Route 238 Land Use covers the Bayview Village site. The city may require a nested, Focused Project EIR and
decide what issues it will cover.

Note 3: The hourly rate in the Engineering Division varies by employee, including benefits, with no extra hourly overhead. The $106 is from Fee Schedule p. 32 top and is used for estimating.
For public works permits City requires pre-construction conference, not shown in the Fee Schedule. For a subdivision, all improvements shown individually on the Master Fee Schedule for
Engineering Services on pdf pp. 115-117 --clearing, survey, concrete, drainage, street work, utility services, sewers-- are covered. Also covered are items listed for Planning on pdf 50-51,
item 25 Grading Permit Application and item 37. Encroachment Permit Application-- Major Work. Also covered are Fire Service Lines and Fire Hydrants from Fire Prevention pdf pp. 57-58.
Developer submits plans for curbs, gutters, sidewalks, streets, utilities, fire service, hydrants, and grading base rock (cut sheets) to Engineering Services. The Survey Section inspects pour
forms and string lines before pouring of concrete. When work is approved as complete, the City issues a certificate of completion. [Tim Koonze, Jim Lear, Robert Arteaga]


Note 4: A Material Bond is required for 50% of the cost of supplies used for land improvements, e.g., pipes and conduits; bond is assumed to be renewed to cover a 5 year term.

Note 5: A Performance Bond is required for 100% of the cost of the public site improvements (excludes dry utilities); bond is assumed to be renewed to cover a 5 year term.




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g Association




                x




                b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Proj Fees   4/21/2012   12:52 PM
Bayview Village                                     32 Sales Per Qtr                                                                                         Hayward Area Planning Ass

Building Construction
RESIDENTIAL BUILDINGS

INPUTS TO CONSTRUCTION COST CALCULATIONS
     Building ID #                                           B1                   B2               B3               B4                 B5              B6              B7
                                                                                             2 Bdrm 1 Bath 6- 2 Bdrm 2 Bath 6-       3 Bdrm          4 Bdrm          5 Bdrm
     Building Description                                Studios             1 Bdrm
                                                                                                  plex             plex            Townhouse       Townhouse       Townhouse
     Qty Dwelling Units by Type of Building                         40                   150            186              312                170             102                64
     Living Area each Dwelling Unit                                441                   523              795                859          1,499           1,702           2,115
     Gross-up for Common Construction               Note 4               Note 4                      112.7%            111.8%
     Built Space by Unit Type                                      601                   713              896                960          1,499           1,702           2,115


CONSTRUCTION COSTS
 Costs per s.f. (Note 1)
     Modular Dwelling Unit Fabrication               $            85.93 $              85.00 $        78.84 $           81.18 $          73.91 $         68.98 $          66.91
     Onsite Concrete Foundation                      $            3.67 $                3.67 $           3.67 $          3.67 $           3.67 $          3.67 $           3.67
     Modular Transportation                          $            2.75 $                2.72 $           2.63 $          2.61 $           2.40 $          2.34 $           2.20
     Crane - Modular Placement                       $            1.83 $                1.81 $           1.75 $          1.74 $           1.60 $          1.56 $           1.47
     Onsite Balconies / Exterior Stairs              $            7.11 $                6.83 $           5.89 $          5.67 $           3.47 $          2.77 $           2.77
     Onsite - Structural / Exterior Finish           $            6.00 $                6.00 $           6.00 $          6.00 $           6.00 $          6.00 $           6.00
     Onsite - MEP / Interior Finish                  $            6.00 $                6.00 $           6.00 $          6.00 $           6.00 $          6.00 $           6.00
       Subtotal: Cost per s.f.                       $        113.29 $             112.03 $          104.79 $          106.87 $          97.05 $         91.32 $          89.02
     Contingency (@ 10%)                             $         11.33 $              11.20 $           10.48 $           10.69 $           9.71 $          9.13 $           8.90
        Subtotal: Cost per s.f. with Contingency     $        124.62 $             123.23 $          115.26 $          117.56 $         106.76 $        100.45 $          97.92


     Subtotal: Construction Cost by D.U. Type        $        74,931 $             87,876 $         103,277 $         112,859 $        160,030 $       170,964 $       207,104
       Subtotal: Const. Cost by D.U. Type            $      2,997,227 $ 13,181,442 $ 19,209,575 $ 35,212,004 $ 27,205,039 $ 17,438,306 $                             13,254,627


     Subtotal: Residential Construction Cost


CAFÉ, STORE
     Item                                           Units                    Unit $                Qty              Amount
     6 modules                                      adjusted sf          $         125.00                1,832 $      229,061
     Tenant Improvements Café, Store                sf                   $         125.00                1,832 $      229,061
        Direct Costs - Café, Store                                                                              $     458,121


COMMUNITY CENTER (Note 2)
 Shell Space (Note 3)
     Item                                           Units                    Unit $                Qty              Amount
     Spread Footings                                Each                 $         483.75                  40 $        19,350
     Slab on Grade- Bay level                       sf                   $              9.25          14,528 $        134,384
     10' Poured in Place Columns                    Each                 $        1,800.00                 40 $        72,000
     Block Partition Walls                          sf                   $             20.00             6,000 $      120,000
     Concrete Shear Walls at Stairwells, Elev Shaft sf                   $             33.75              900 $        30,375
     Concrete Stairs                                each-per level       $   11,625.00                      2 $        23,250
     Mechanical Elevator                            Each                 $ 107,500.00                       1 $       107,500
     Concrete Headers at Exterior Walls             lf                   $             45.50              800 $        36,400
     Concrete Deck                                  sf                   $             25.00          14,528 $        363,200
     Plumbing rough-in for Café                     Each                 $   25,000.00                      2 $        50,000
     Plumbing rough-in for Store                    lump sum             $   12,000.00                      1 $        12,000
     Plumbing rough-in for Community Center         lump sum             $   12,000.00                      1 $        12,000
     Miscellaneous Plumbing                         lump sum             $        5,000.00                  1 $         5,000
     Fire Sprinklers                                sf                   $              2.38          14,528 $         34,613
     Electrical Stubs for Commercial Units          each                 $        5,000.00                  4 $        20,000
     Communications Stubs for Retail                each                 $        2,818.75                  4 $        11,275
     General interior lighting-rough in             sf                   $              3.88          14,528 $         56,296
     General exterior lighting-Rough in             sf                   $              3.19          14,528 $         46,308
     Illuminated signage                            each                 $        2,625.00                  4 $        10,500


b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                Bldgs                             29                                                            4/21/2012    12:52 PM
Bayview Village                                       32 Sales Per Qtr                                                                                      Hayward Area Planning Ass

Building Construction
      Security Monitoring System                      sf                  $        1.98           14,528 $         28,693
      Fire Alarms/Smoke Detection                     lump sum            $   28,625.00                 1 $        28,625
                                                      each
      Glass/aluminum panel/doors at retail, street side                   $    5,025.00                24 $       120,600
      Cementious sheathing                            sf                  $        5.86           14,528 $         85,134
      3-coat stucco                                   sf                  $        7.65           14,528 $        111,139
      Exterior Trim                                   lump sum            $   30,000.00                 1 $        30,000
      Exterior Paint                                  sf                  $        1.74           14,528 $         25,242
      Exterior Light Fixtures (Residential)           Each                $     362.50                 48 $        17,400
      Sack/patch/paint concrete stairwell             sf                  $        2.81              900 $          2,531
      Insulation (Ceiling)                            sf                  $        0.76           14,528 $         11,078
      Drop Ceiling                                    sf                  $       2.06            14,528 $         29,964
      Clean-Up and Repairs                            lump sum                   30,000                1 $         30,000
                                                      sf                  $     115.97            14,528 $      1,684,857
      Contingency @ 20%                                                                                     $     336,971
         Subtotal : Community Center Shell                                $     139.17            14,528 $      2,021,829
      Community Center                                sf                  $      139.17             7,800 $     1,085,508
      Carports                                        Each                $    2,850.00               100 $       285,000
          Subtotal: Community Center Construction Cost                                                          $1,370,508
      Furnishings                                     lump sum                 $500,000                 1        $500,000
          Subtotal: Community Center Construction Cost                                                          $1,870,508


             TOTAL: BUILDING CONSTRUCTION COST


Notes:
Note 1: Construction unit pricing based on an estimate received from Zeta Communities, a modular construction company.
      Zeta Estimate
      Plan                                                          B3               B6
      Area SF                                                       795           1,702
      D.U. Fabrication                                $         81.91 $          71.60
      Foundation                                      $            3.67 $          3.67
      Transportation                                  $            2.63 $          2.34
      Crane                                           $            1.75 $          1.56
      Balconies / Exterior Stairs                     $            5.89 $          2.77
      Structure - Structural / Exterior Finish        $            6.00 $          6.00
      Structure - MEP / Interior Finish               $            6.00 $          6.00
Note 2: The community buildings are the first two floors of the Community Building and the Village Store and Café in the Mixed Use Bldg. They are assumed to be Type 1 reinforce
      concrete, forming the base of podiums upon which wood-frame residential units are placed.
Note 3: Shell space unit pricing based on recent bid-estimates for a similar project furnished to Jacobson Consulting by San Jose Construction,
      Taisei, Swinerton, D. Ross Construction. Commercial building specification is to be determined; line items shown are for illustrative purposes.
Note 4: Common construction is defined as condominium corridors, stairwells, utility closets, and so forth, or in the case of the walk-up units, the common outdoor stairwell.
Gross-up for Common Construction                           studios          one bedroom café               store            MU block
                                                      Qty               40             150               1                1
                                             Living Space              441             523           1,344           2,688
                                           Unadjusted sf           17,640           78,450           1,344           2,688          100,122
                                  Percent of unadjusted             17.6%            78.4%            1.3%            2.7%           100.0%
                         Adjusted sf for total floor area          24,051          106,963           1,832           3,665          136,512             136,512
                                       Adjusted per unit               601             713           1,832           3,665
total floor area includes halls, stairs, elevators, rest rooms and service rooms
       sixplexes                                           two bed one bath                two bed two bath
       net area for 6 units                                          4,770                           5,154
       gross area incl. stairwell for 6 units                        5,376                           5,760
       percent gross up                                            112.7%                          111.8%




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                  Bldgs                      30                                                                4/21/2012   12:52 PM
yward Area Planning Association




                        B8
                    Community
                      Center
                                2
                          1,500


                          1,500




                $         68.98
                $          3.67
                $          2.34
                $          1.56
                $          2.77
                $          6.00
                $          6.00
                $         91.32
                $          9.13
                $        100.45


                $       150,673
                $       301,346


                $ 128,799,565




               b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Bldgs   31   4/21/2012   12:52 PM
yward Area Planning Association




                 $ 130,628,195




ed to be Type 1 reinforced




                b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Bldgs   32   4/21/2012   12:52 PM
Bayview Village                                                                                                                                        Hayward Area Planning Association

Green Energy
RESIDENTIAL BUILDINGS

INPUTS TO GREEN ENERGY COST CALCULATIONS
     Building ID #                                              B1                B2                B3               B4               B5              B6              B7                   B8
                                                                                              2 Bdrm 1 Bath 6- 2 Bdrm 2 Bath 6-     3 Bdrm          4 Bdrm          5 Bdrm             Community
      Building Description                                   Studios            1 Bdrm
                                                                                                   plex             plex          Townhouse       Townhouse       Townhouse              Center
      Qty Buildings                                                      6                  6              31               52             170             102                64                   1
      Qty Dwelling Units per Building                                  6.67                25                 6              6              1               1                  1                   2
      Qty Dwelling Units by Type of Building                            40               150                186           312             170             102                 64                   2
      Living Area each Dwelling Unit                                   441               523                795           859            1,499           1,702          2,115                1,500
      Conditioned Space by Building Type                               601               713                896           960            1,499           1,702          2,115                1,500


GREEN ENERGY CONSTRUCTION COSTS
 Costs per D.U. (Note 1)
      Extra insulation, moisture barrier, etc.           $        924.76 $        1,014.13 $        1,310.54 $       1,380.29 $      2,077.73 $      2,298.95 $      2,749.03 $           2,078.82
      High efficiency space heating                      $      1,225.00 $        1,225.00 $        1,225.00 $       1,225.00 $      1,225.00 $      1,225.00 $      1,225.00 $           1,225.00
      Solar hot water system                             $      2,800.00 $        3,008.92 $        3,701.91 $       3,864.97 $      5,495.54 $      6,012.74 $      7,064.97 $           5,498.09
      Photovoltaic system                                $    15,112.50 $        15,876.35 $       18,410.11 $     19,006.29 $      24,968.07 $     26,859.08 $     30,706.29 $          24,977.39
         Subtotal: Cost per D.U.                         $    20,062.26 $        21,124.40 $       24,647.56 $     25,476.54 $      33,766.35 $     36,395.77 $     41,745.28 $          36,395.77
      Contingency (@ 10%)                                $      2,006.23 $        2,112.44 $        2,464.76 $       2,547.65 $      3,376.63 $      3,639.58 $      4,174.53 $           3,639.58
         Subtotal: Cost per D.U. with Contingency        $    22,068.49 $        23,236.84 $       27,112.32 $     28,024.20 $      37,142.98 $     40,035.35 $     45,919.81 $          40,035.35


      # of D.U.'s per Bulding Type                                      40               150                186           312             170             102             64                       2
         Subtotal: Cost by Building Type                 $      882,740 $        3,485,525 $       5,042,891 $     8,743,550 $      6,314,307 $     4,083,605 $     2,938,868 $             80,071


      TOTAL: GREEN ENERGY CONSTRUCTION COST                                                                                                                                        $    31,571,557


Notes:
Note 1: Unit pricing based on an estimate received from Zeta Communities, a modular construction company.
      Zeta Estimate
      Plan                                                              B3                 B6
      Area SF                                                           912             1,540
      Extra insulation, moisture barrier, etc.           $           1,438 $            2,122
      High efficiency space heating                      $           1,225 $            1,225
      Solar hot water system                             $           4,000 $            5,600
      Photovoltaic system                                $           19,500 $          25,350




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                    Energy                                                 33                                                                                 4/21/2012   12:52 PM
Bayview Village                                                                                                                                                                                                                  Hayward Area Planning Association

Building Fees

INPUTS TO FEE CALCULATIONS                                                                                       RESIDENTIAL                                                                          COMMERCIAL
     Building ID #                                    B1-R               B2                B3               B4             B5                 B6               B7               B8-R               B1-C      B8-C                      Totals (Residential Only)
                                                                                      2 Bdrm 1 Bath 2 Bdrm 2 Bath          3 Bdrm           4 Bdrm           5 Bdrm          Comm Ctr -                        Comm Ctr-
      Building Description                           Studios            1 Bdrm                                                                                                            Café Store
                                                                                          6-plex        6-plex           Townhouse        Townhouse        Townhouse        Manager Units                     Public Rooms

      Qty Buildings                                             6                 6               31               52              170              102               64                   1              1                  1                              426
      Qty Occupied Units per Building                     6.67                   25                6                6                1                1                1                   2              2                  1
      Qty Occupied Units by Type of Building                   40             150                186              312              170              102               64                   2              2                  1                            1,026
      Conditioned Space each Unit                            441              523                795              859             1,499            1,702            2,115           1,500             N/A                N/A
      Conditioned Space each Building                    2,940             13,075               4,770            5,154            1,499            1,702            2,115           3,000            1,832           7,800


      Qty Townhouses (permit as single family)                                                                                     170              102               64                                                                                    336
      Qty buildings with flats                                  6                 6               31               52                                                                      1                                                                 90
      Conditioned Space by Building Type                17,640             78,450          147,870           268,008          254,830          173,604          135,360             3,000            1,832           7,800                            1,078,762

FEE BREAKDOWN
Category - Item                                       B1-R               B2                B3               B4               B5               B6               B7               B8-R               B1-C           B8-C           Information Reference
Fees per Unit
      Park In-lieu Fee                           $      9,653       $      9,653      $      9,653      $     9,653      $     9,653      $     9,653      $    11,359      $      9,653       $      -       $          -       Hayward Planning Dept. Handout
      Water Meter Installation                   $      2,880       $      2,880      $      2,880      $     2,880      $     2,880      $     2,880      $     3,230      $      2,880       $    3,230     $      3,230 City of Hayward, Master Fee Schedule
      Water Facilities Fee                       $      5,726       $      5,726      $      5,726      $     5,726      $     5,726      $     5,726      $     8,590      $      5,726       $    8,590     $      8,590 City of Hayward, Master Fee Schedule
      Radio Read Upgrade to Water Meter          $        200       $         200     $         200     $        200     $        200     $         200    $        200     $          200     $      200     $          200 City of Hayward, Master Fee Schedule
      Sanitary Sewer Service Connection Fee      $      6,457       $      6,457      $      6,457      $     6,457      $     6,457      $     6,457      $     7,255      $      6,457       $ 30,000       $    30,000 City of Hayward, Master Fee Schedule
      State Inspections (Modular)                $        500       $         500     $         500     $        500     $        500     $         500    $        500     $          500     $      500     $          500 Zeta Communities
      Hayward Unified School District            $        904       $      1,072      $      1,630      $     1,761      $     3,073      $     3,489      $     4,336      $      3,075       $      916     $      3,900 Hayward USD, Facilities Director
      Address Assignment Fee                     $         42       $         42      $         42      $        42      $        42      $        42      $        42      $         42       $       42     $         42 City of Hayward, Master Fee Schedule
         Subtotal: Fees per Unit                 $     26,362       $     26,530      $     27,088      $    27,219      $    28,531      $    28,947      $    35,512      $     28,533       $ 43,478       $    46,462
         x # of Units in each Bldg                             7                 25                6                6                1                1                1                   2              2                  1
         = Unit-Fees per Bldg                    $    175,747       $    663,254      $    162,527      $   163,314      $    28,531      $    28,947      $    35,512      $     57,066       $ 86,956       $    46,462


Fees per Building
      Unit-Fees Subtotal                         $    175,747       $    663,254      $    162,527      $   163,314      $    28,531      $    28,947      $    35,512      $     57,066       $ 86,956       $    46,462                                               confusing. delete?
      Production Unit Plan Review (inc. MEP)     $      1,405       $      1,558      $      1,275      $     1,277      $     1,370      $     1,082      $     1,149      $      5,386       $    5,380     $      5,412 City of Hayward, Master Fee Schedule
      Production Unit Inspections (inc. MEP)     $      6,288       $      6,974      $      5,235      $     5,250      $     5,913      $     4,139      $     4,600      $      9,131       $    9,112     $      9,208 City of Hayward, Master Fee Schedule
      Fire Plan Review & Inspecton (w/ MEP)      $      1,517       $      1,682      $      1,052      $     1,055      $     1,187      $         807    $        917     $      3,534       $    3,528     $      3,563 City of Hayward, Master Fee Schedule
      Fire Alarm System Review & Inspection      $      1,437       $      1,438      $      1,437      $     1,437      $     1,437      $     1,026      $     1,026      $      1,437       $    1,437     $      1,437 Fire Alarm System pdf p. 55
      Hayward Unified School District            $     26,804       $      9,779      $      9,779      $    10,566      $     3,073      $     5,276      $     6,557      $      1,500       $      916     $      3,900 Hayward USD, Facilities Director
         Subtotal: Fees per Building             $    213,198       $    684,685      $    181,303      $   182,899      $    41,512      $    41,277      $    49,760      $     78,055       $ 107,329      $    69,983
         x # Bldgs of this Type                                6                  6               31               52             170               102               64                   1              1                  1
         = Bldg-Fees by Bldg Type                $ 1,279,189        $ 4,108,110       $ 5,620,391       $ 9,510,725      $ 7,057,053      $ 4,210,272      $ 3,184,661      $     78,055       $ 107,329      $    69,983


Additional Fees by Building Type
      Incremental Plan Review (Master Set)       $      5,580       $      6,189      $      5,060      $     5,069      $     5,444      $     4,295      $     4,567      $          -       $      -       $          -       City of Hayward, Master Fee Schedule
      Incr. Fire Review (Master Set)             $      2,697       $      2,991      $      1,869      $     1,873      $     1,955      $     1,434      $     1,629      $          -       $      -       $          -       City of Hayward, Master Fee Schedule
         Subtotal: Fees by Bldg Type             $ 1,287,466        $ 4,117,290       $ 5,627,320       $ 9,517,667      $ 7,064,452      $ 4,216,001      $ 3,190,856      $     78,055       $ 107,329      $    69,983


            Subtotal: Building Fees                                                                                                                                                                           $ 35,276,418




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx            Bldg Fees                                                                                 34                                                                                                                          4/21/2012     12:52 PM
Bayview Village                                                                                                                                Hayward Area Planning Association

Building Fees

Other Miscellaneous Building Dept. Fees         Units             Unit $     Qty             Amt        Information Reference
      Carports                                  Each          $        405         100   $    40,500 City of Hayward, Master Fee Schedule
      Trellises                                 Each          $        170           2   $         340 City of Hayward, Master Fee Schedule
      Retaining Walls                           Per 50 l.f.   $        200          80   $                          Move Master Fee Schedule
                                                                                              16,000 Average estimate fromto Proj Cons?
      Project Signs                             Each          $        106          10   $      1,060 City of Hayward, Master Fee Schedule
      Commercial Signs                          Each          $        277           4   $      1,108 City of Hayward, Master Fee Schedule
      Entry Monument                            Each          $      1,000           1   $      1,000 Rough Estimate
      Stormwater Treatment Inspections          Each          $        250          12   $                            Master Proj Cons?
                                                                                                3,000 City of Hayward,Move to Fee Schedule
        Subtotal: Miscellaneous Building Fees                                            $    63,008 assigned to Community Center


            TOTAL: ALL BUILDING FEES                                                     $ 35,339,426




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx         Bldg Fees                                                                     35                                                 4/21/2012   12:52 PM
Bayview Village                                                                                                                Hayward Area Planning Association

Building Consultants
Phase - Consultant                    Work Product                                                        Units       Unit $         Qty          Amt            Subtotal
Entitlement Phase
      Architect                       Conceptual Plans and Renderings - Buildings                       Building        $8,000              8      $64,000
      Modular Design Expert           Presentation: Modular Design Details Bayview Village                  LS          $8,000              1       $8,000
         Subtotal: Entitlement Phase                                                                                                                                 $72,000


Design Phase
                                      D.U. Construction Docs - Res. (included in Zeta hard costs)
      Modular Design Expert                                                                               Plan          $0.00               7             $0
      Architect                       Residential Construction Documents (note 1)                       Building      $10,000               8      $80,000
      Architect                       Commercial/Mixed Use Construction Documents                           SF          $4.50       #REF!         #REF!
      Structural Engineering          Commercial/Mixed Use Construction Documents                           SF          $1.13       #REF!         #REF!
      Energy Consultant               Commercial/Mixed Use Construction Documents                           SF         $0.36        #REF!         #REF!
      Build-It-Green Certifier        Commissioning Docs (greenbuilding rating)                             LS        $25,000               1      $25,000
      Reimbursables                   Printing, photocopies, courier services                               LS        $30,000               1      $30,000
         Subtotal: Engineering Phase                                                                                                                              #REF!


Construction Phase
     Project Manager                  Coordinate permitting, subcontracts, etc. by Zeta                   D.U.            $300         1,024     $307,200
      Site Superintendent             Oversee onsite construction                                         Year        $80,000               9    $720,000
      Architect/Structural            Identify and correct design problems                                  LS        $20,000               1      $20,000
      Reimbursables                   Printing, photocopies, courier services                               LS        $25,000               1      $25,000
         Subtotal: Construction Phase (2)                                                                                                                        $1,072,200


             TOTAL: BUILDING CONSULTANTS                                                                                                                          #REF!

Note 1: Modular, factory buiilt units. Construction Documents (CDs, blueprints) and shop drawings for residential buildings; Color and Materials Board, Architectural Plans.
Architect of Record, Title 24, subconsultants for structure, solar energy, HVAC, sound, MEP (Mechanical Electrical Plumbing), Lighting Plan and forensic consultation (by Zeta
and Zeta partner KTGY). Jill Williams, KTGY, Jan 29 10 email: Use bldg types 75k x 8 = $600k

Note 2: Cost is allocated to cash flow on a per residential unit basis                                   $1,047




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                        Bldg Cons                                                                                4/21/2012       12:52 PM
nning Association




                    x




                    b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Bldg Cons   4/21/2012   12:52 PM
Bayview Village                                                             Hayward Area Planning Association

Village Bus
Item                                                 Units            Unit $            Qty                Amt
Diesel-hybrid buses (Note 1)                         Each              $550,000          2                  $1,100,000
Public transit infrastructure (Note 2)               Lump Sum         $1,250,000         1                  $1,250,000
Traffic signal modifications (Note 3)                Lump Sum           $160,000         1                    $160,000
Easement Acquisition busway, PG&E (Note 4)           Each                $50,000         1                     $50,000
  TOTAL: PUBLIC TRANSIT                                                                                     $2,560,000


Reconcile with Village Bus.xlsx
(Estimate for Busway and bus stops adds $300,000, which equals # in Village Bus.xlsx                        $2,860,000
(As a cost per unit:                                                                                             $2,798

Notes:
Note 1: Specified are ISE-Thunderbolts or equivalent. Cost includes spare parts. Buses are to be owned
by the HOA and run by a contract bus operator like MV Transportation for the benefit of
all Bayview Village residents, who ride for free (ecopass). Unit purchase covers capital; HOA fees cover operating.
Note 2: Consists of 14 bus stop shelters, additional raised sidewalk platforms, and ticket vending machines
as is anticipated to be required by a traffic study as part of the environmental impact report.
This infrastructure is anticipated to be both in-tract and off-tract. In-tract busway costs are
captured in the Site Improvements cost estimate.
Note 3: Traffic signals near the project site are anticipated to be modified to speed up
rapid bus traffic in and out of the project. Upgrades include GPS signal control.
Note 4: Right of way use inside the adjacent PG&E ROW is required for efficient
bus circulation. This cost estimate reflects limited use rights for QV in the corridor and benefit to
PG&E from eliminating maintenance costs and significantly reducing liability.




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx                    Bus                                           4/21/2012      12:52 PM
ning Association




                   )
                   )




                   b952cd85-160e-4057-9671-f8e39ab39b52.xlsx   Bus   4/21/2012   12:52 PM
Bayview Village                                                                                        Hayward Area Planning Association

Gross Margin Analysis by Building Phase
                                                                                                                                  from sales
PHASE                                                 Phase 1        Phase 2        Phase 3        Phase 4        Phase 5              Overall          Checksum
Building Breakdown
      Studio - Flat in Mixed Use Bldg                        15              15             10                                                    40                40
      One Bedroom - Condo                                    50              50             50                                                   150               150
      Two Bedroom - Condo                                    47              22             12             48                57                  186               186
      Two Bedroom Two Bath - Condo                           69              18             36             41               148                  312               312
      Three Bedroom -Condo                                   14              54             50             52                                    170               170
      Four Bedroom - Condo                                    7              36             25             34                                    102               102
      Five Bedroom - Townhouse                                3              10             22             29                                     64                64
        Subtotal: Residential Units in this Phase           205             205            205            204               205                1,024             1,024
      Managers' Dwelling Units                                                                                                2                    2                 2
      Community Center                                                                                       1
      Café, Store                                               1                                                                 from income:
REVENUE                                              $57,233,382     $66,343,382    $68,268,382    $75,662,097    $59,428,382        $326,935,625        $326,935,625


COSTS
  Land Development Costs
      Land Acquisition (Allocated)                    $4,451,525      $4,451,525     $4,451,525     $4,429,810     $4,451,525          $22,235,909        $22,235,909
      Site Improvements (Assigned) (Note 1)          $11,068,920      $5,681,622     $4,794,123     $2,463,786     $3,362,809          $27,371,260        $27,371,260
      Capitalized Interest (Allocated)                      1.1%           1.1%           1.1%           1.0%              1.1%                  5.3%              5.3%
      Project Level Government Fees (Allocated)         $236,001       $236,001       $236,001       $234,850       $236,001            $1,178,856         $1,178,856
      Project Level Consultant Fees (Allocated)         $840,440       $840,440       $840,440       $836,340       $840,440            $4,198,100         $4,198,100
        Subtotal: Land Development Costs             $16,596,886     $11,209,588    $10,322,089     $7,964,786     $8,890,775          $54,984,125        $54,984,125


  Building Costs (Assigned)
      Direct Costs - Residential-Base               ############ ############ ############ ############            #REF!             $128,799,565        #REF!
      Direct Costs - Manager Units (assigned)
      Direct Costs - Green Energy                     $5,638,826      $6,499,967     $6,585,014     $7,074,695     $5,773,054          $31,571,557        $31,571,557
      Direct Costs - Residential-Options                $300,894       $300,894       $300,894       $299,426       $300,894            $1,503,000         $1,503,000
        Direct Costs - Café, Store                      $458,121               $0             $0             $0             $0            $458,121          $458,121
        Direct Costs - Community Center                         $0             $0             $0    $1,370,508              $0          $1,370,508         $1,370,508
      Building Permit Fees                            $6,510,068      $7,300,497     $7,363,512     $7,848,003     $6,317,347          $35,339,426        $35,339,426
    Building Consultant Fees (Allocated)       #REF!        #REF!        #REF!        #REF!        #REF!        #REF!         #REF!
      Subtotal: Building Costs                 #REF!        #REF!        #REF!        #REF!        #REF!        #REF!         #REF!
    Village Bus                                 $512,500     $512,500     $512,500     $510,000     $512,500     $2,560,000    $2,560,000
 Selling Expenses (Allocated)
    Model Expenses                              $195,190     $195,190     $195,190     $194,238     $195,190      $975,000       $975,000
    Sales Commissions                          $1,178,118   $1,178,118   $1,178,118   $1,172,371   $1,178,118    $5,884,841    $5,884,841
    Broker Coop Fees                            $654,510     $654,510     $654,510     $651,317     $654,510     $3,269,356    $3,269,356
    Advertising                                  $74,072      $74,072      $74,072      $73,711      $74,072      $370,000       $370,000
    Sellers Closing Costs                       $261,804     $261,804     $261,804     $260,527     $261,804     $1,307,743    $1,307,743
      Subtotal: Selling Expenses               $2,363,694   $2,363,694   $2,363,694   $2,352,164   $2,363,694   $11,806,940   $11,806,940


 Other Expenses (Allocated)
    Property Taxes & Assessments (Allocated)    $425,382     $425,382     $425,382     $423,307     $425,382     $2,124,834    $2,124,834
    Insurance                                   $458,157     $458,157     $458,157     $455,922     $458,157     $2,288,549    $2,288,549
    Developer Administration/Overhead           $376,367     $376,367     $376,367     $374,531     $376,367     $1,880,000    $1,880,000
    Warranty Reserve                            $654,510     $654,510     $654,510     $651,317     $654,510     $3,269,356    $3,269,356
      Subtotal: Other                          $1,914,416   $1,914,416   $1,914,416   $1,905,077   $1,914,416    $9,562,739    $9,562,739




TOTAL COSTS                                    #REF!        #REF!        #REF!        #REF!        #REF!        #REF!         #REF!


NET INCOME                                     #REF!        #REF!        #REF!        #REF!        #REF!        #REF!         #REF!
PRETAX PROFIT MARGIN                           #REF!        #REF!        #REF!        #REF!        #REF!        #REF!
Bayview Village                                                                                                                           Hayward Area Planning Association

Gross Margin Analysis by Plan

                                                                                                     RESIDENTIAL                                                       PROJECT          Checksum
    Building ID #                                   B1-R             B2                 B3                B4              B5              B6              B7           OVERALL
                                                                                  2 Bdrm 1 Bath 6- 2 Bdrm 2 Bath 6-     3 Bdrm          4 Bdrm          5 Bdrm
    Building Description                           Studios         1 Bdrm
                                                                                       plex              plex         Townhouse       Townhouse       Townhouse
REVENUE
    Unit Count                                                40            150                186             312              170             102              64           1,024                 1,024
    Residential Sales - Base                       $6,800,000      $33,750,000       $53,010,000      $90,480,000      $60,350,000     $45,390,000     $35,840,000     $325,620,000         325,620,000
    Residential Sales - Options                       $71,392        $267,719           $331,971           $556,854      $303,414        $182,049        $114,227        $1,827,625           1,827,625
    Sales Incentives                                 -$20,000         -$75,000           -$93,000       -$156,000         -$85,000        -$51,000        -$32,000        -$512,000            -512,000
        NET REVENUE                                $6,851,392      $33,942,719       $53,248,971      $90,880,854      $60,568,414     $45,521,049     $35,922,227     $326,935,625         326,935,625


COSTS
 Land Development Costs (Allocated by C.A.R.)
    Footprint per unit (SF)                                  199            239                299             320              512             576             704
    Total Unit Type Impact to Land                         7,960       35,850              55,614            99,840        87,040          58,752          45,056          390,112
   Proportion Footprint                                 2.04%             9.19%           14.26%            25.59%         22.31%          15.06%          11.55%                $1                 200%
    Land Acquisition                                 $453,710       $2,043,406        $3,169,930       $5,690,758       $4,961,174      $3,348,792      $2,568,137      $22,235,909          22,235,909  ok
    Site Improvements                                $558,494       $2,515,328        $3,902,021       $7,005,031       $6,106,950      $4,122,191      $3,161,245      $27,371,260          27,371,260  ok
    Capitalized Interest                                   $0               $0                $0               $0               $0              $0              $0             5.3%                 5.3% ok
    Property Taxes & Assessments                           $0               $0                $0               $0               $0              $0              $0             1.5%                 1.5% ok
    Project Level Government Fees                     $24,054        $108,333           $168,057           $301,700      $263,021        $177,539        $136,152        $1,178,856           1,178,856     ok
    Project Level Consultant Fees                     $85,660        $385,791           $598,477       $1,074,405        $936,661        $632,246        $484,860        $4,198,100           4,198,100     ok
        Subtotal: Land Development Costs           $1,121,918       $5,052,859        $7,838,485      $14,071,895      $12,267,806      $8,280,769      $6,350,394      $54,984,125          54,984,125     ok
                                           58711
 Building Costs (Assigned)
    Direct Costs - Residential-Base                #REF!            #REF!              #REF!           #REF!            #REF!           #REF!           #REF!            #REF!              #REF!           ok
    Direct Costs - Manager Units (assigned)        #REF!            #REF!              #REF!           #REF!            #REF!           #REF!           #REF!            #REF!              #REF!           ok   #REF!
    Direct Costs - Green Energy                      $882,740       $3,485,525        $5,042,891       $8,743,550       $6,314,307      $4,083,605      $2,938,868      $31,571,557          31,491,486

    Direct Costs - Residential-Options             #REF!            #REF!              #REF!           #REF!            #REF!           #REF!           #REF!            $1,503,000         #REF!           ok
        Direct Costs - Café, Store                     $9,348         $42,100            $65,309           $117,245      $102,214         $68,994         $52,911         $458,121             458,121      ok
        Direct Costs - Community Center               $27,964        $125,945           $195,378           $350,749      $305,782        $206,403        $158,287        $1,370,508           1,370,508     ok
    Building Permit Fees                           $1,360,753       $4,187,788        $5,705,401       $9,648,629       $7,090,468      $4,229,843      $3,189,853      $35,339,426          35,412,735
    Building Consultant Fees (Allocated)           #REF!            #REF!              #REF!           #REF!            #REF!           #REF!           #REF!            #REF!              #REF!           ok
        Subtotal: Building Costs                   #REF!            #REF!              #REF!           #REF!            #REF!           #REF!           #REF!            #REF!              #REF!
    Village Bus                                      $100,000        $375,000           $465,000           $780,000      $425,000        $255,000        $160,000        $2,560,000           2,560,000     ok
 Selling Expenses (Allocated per unit)
    Proportion                                          3.91%             14.6%            18.2%             30.5%          16.6%           10.0%               6.3%        100.0%




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx            GMA-Plan                                         42                                                                              4/21/2012       12:52 PM
Bayview Village                                                                                                  Hayward Area Planning Association

Gross Margin Analysis by Plan
     Model Expenses                           $38,086    $142,822     $177,100         $297,070    $161,865      $97,119      $60,938       $975,000            975,000   ok
     Sales Commissions                       $229,877    $862,037    $1,068,926   $1,793,038       $976,976     $586,185     $367,803     $5,884,841          5,884,841   ok
     Broker Coop Fees                        $127,709    $478,910     $593,848         $996,132    $542,764     $325,659     $204,335     $3,269,356          3,269,356   ok
     Advertising                              $14,453     $54,199      $67,207         $112,734     $61,426      $36,855      $23,125       $370,000            370,000   ok
     Sellers Closing Costs                    $51,084    $191,564     $237,539         $398,453    $217,106     $130,263      $81,734     $1,307,743          1,307,743   ok
       Subtotal: Selling Expenses            $461,209   $1,729,532   $2,144,620   $3,597,427      $1,960,137   $1,176,082    $737,934    $11,806,940         11,806,940   ok


  Other Expenses (Allocated per unit)
     Property Taxes & Assessments             $83,001    $311,255     $385,956         $647,410    $352,756     $211,653     $132,802     $2,124,834          2,124,834   ok
     Insurance                                $89,396    $335,237     $415,694         $697,292    $379,935     $227,961     $143,034     $2,288,549          2,288,549   ok
     Developer Administration/Overhead        $73,438    $275,391     $341,484         $572,813    $312,109     $187,266     $117,500     $1,880,000          1,880,000   ok
     Warranty Reserve                        $127,709    $478,910     $593,848         $996,132    $542,764     $325,659     $204,335     $3,269,356          3,269,356   ok
       Subtotal: Other                       $373,545   $1,400,792   $1,736,982   $2,913,647      $1,587,564    $952,538     $597,671     $9,562,739          9,562,739   ok


       NET COSTS                            #REF!       #REF!        #REF!         #REF!          #REF!        #REF!        #REF!       $277,876,366         #REF!



NET OPERATING INCOME                        #REF!       #REF!        #REF!         #REF!          #REF!        #REF!        #REF!       $49,059,259          #REF!
PRETAX PROFIT MARGIN                        #REF!       #REF!        #REF!         #REF!          #REF!        #REF!        #REF!             15.01%


C.A.R. = Coverage Area Ratio




b952cd85-160e-4057-9671-f8e39ab39b52.xlsx    GMA-Plan                             43                                                                   4/21/2012     12:52 PM
Bayview Village                                                                                                                    Hayward Area Planning Association

Quarterly Cash Flow Statement                                          (In 1000 dollar increments)
                   From Inputs: Property Tax Rate=         1.50%             Dev. Loan Interest Rate=     5.25%

YEAR                                                      Year 1       Entitlement                       Year 2       Design                              Year 3       Improvements
QUARTER                                     Q1             Q2             Q3       Q4         Q1          Q2            Q3          Q4          Q1         Q2             Q3      Q4        Q1
                                             1              2              3        4          5           6             7          8            9          10            11      12        13
OPERATIONS

Cumulative Residential Units Sold                 0                0          0          0           0            0            0            0         0            0         0          0         0

Cash Receipts
  Residential Sales (Base + Options)             $0           $0             $0         $0         $0        $0            $0              $0        $0       $0            $0         $0        $0
  Sales Incentives                               $0           $0             $0         $0         $0        $0            $0              $0        $0       $0            $0         $0        $0
  Sales Commissions                              $0           $0             $0         $0         $0        $0            $0              $0        $0       $0            $0         $0        $0
  Broker Coop Fees                               $0           $0             $0         $0         $0        $0            $0              $0        $0       $0            $0         $0        $0
  Sellers Closing Costs                          $0           $0             $0         $0         $0        $0            $0              $0        $0       $0            $0         $0        $0
Net Sales                                        $0           $0             $0         $0         $0        $0            $0              $0        $0       $0            $0         $0        $0

Cash Disbursements
  Land Acquisition                           $860             $87           $87       $87        $87     $21,029           $0              $0        $0        $0           $0         $0        $0

  Phase 1 Site Improvements             x             x                x                $0         $0         $0           $0        $2,214     $2,214     $2,214        $2,214   $2,214         $0
  Phase 2 Site Improvements             x             x                x                $0         $0         $0           $0            $0         $0         $0            $0       $0         $0
  Phase 3 Site Improvements             x             x                x                $0         $0         $0           $0            $0         $0         $0            $0       $0         $0
  Phase 4 Site Improvements             x             x                x                $0         $0         $0           $0            $0         $0         $0            $0       $0         $0
  Phase 5 Site Improvements             x             x                x                $0         $0         $0           $0            $0         $0         $0            $0       $0         $0
    Subtotal: Site Improvement Costs    x             x                x                $0         $0         $0           $0        $2,214     $2,214     $2,214        $2,214   $2,214         $0

  Property Taxes & Assessments                                $0                       $0                  $163                       $163                  $163                   $163
  Project Level Government Fees                $47           $47            $47       $47       $247       $247          $247         $247
  Project Level Consultant Fees              $129           $129           $129      $129       $446       $446          $446         $497         $52        $52           $52      $52     $52
    Subtotal: Land Development Costs        $1,036          $263           $263      $263       $780     $21,885         $693        $3,121     $2,265     $2,428        $2,265   $2,428     $52

  Direct Costs - Residential Base                $0            $0            $0         $0         $0         $0           $0              $0        $0        $0           $0         $0     $0
  Direct Costs - Energy                          $0            $0            $0         $0         $0         $0           $0              $0        $0        $0           $0         $0     $0
  Direct Costs - Residential Options             $0            $0            $0         $0         $0         $0           $0              $0        $0        $0           $0         $0     $0
  Direct Costs - Café, Store                                                                                                                                                                $153
  Direct Costs - Community Center                                                                                          $0              $0        $0        $0           $0         $0     $0
  Building Permit Fees                           $0            $0            $0         $0         $0         $0           $0              $0        $0        $0           $0         $0     $0
  Building Consultant Fees                                    $36           $36                                        #REF!       #REF!             $0        $0           $0         $0     $0
  Building Construction Loans
    Subtotal: Building Costs                     $0           $36           $36         $0         $0         $0       #REF!       #REF!             $0        $0           $0         $0   $153
 Model Expenses [adjust for café store]                                                 $0         $0         $0            $0           $0        $0        $0     $480         $0
 Advertising                                                                            $0         $0         $0            $0          $10       $10       $10       $10        $0
 Warranty Expense                                                                       $0         $0         $0            $0           $0        $0        $0        $0        $0
 Insurance                                                                              $0         $0         $0            $0           $0        $0        $0        $0        $0
 Village Bus System                                                             $0      $0         $0         $0         $512         $512      $512      $512      $512         $0
 Developer Overhead                             $40       $40        $40       $40     $40        $40        $40           $40          $40       $40       $40       $40       $40
    Subtotal: Selling & Other Expense           $40       $40        $40       $40     $40        $40        $40         $552         $562      $562      $562     $1,042       $40
Net Cash Disbursements                       $1,076      $339       $339      $303    $820    $21,925     #REF!       #REF!          $2,827    $2,990    $2,827    $3,470      $244

NET CASH FLOW FROM OPERATIONS                -$1,076    -$339      -$339      -$303   -$820 -$21,925      #REF!       #REF!          -$2,827   -$2,990   -$2,827   -$3,470    -$244

INVESTING & FINANCING
Equity Investor Cash Flow                    $1,276      $340       $339      $304    $810     $6,309         $0
Development Loan Draw (Paydown)                                                               $15,616     #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
NET CASH FLOW INVESTING/FINANCING            $1,276      $340       $339      $304    $810    $21,925     #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!

NET CASH FLOW: OVERALL                         $200         $1           $0     $1     -$10       $0      #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!

Cash on Hand keep above 200                    $200      $200       $200      $200    $190      $190      #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!

DEVELOPMENT LOAN STATUS
  Draw Paid or Payment Received                   $0        $0           $0     $0      $0    $15,616     #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
Interest Account
  Previous Quarter Accrued Interest               $0        $0           $0     $0      $0        $0          $0      #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
  Current Quarter Interest Accrual                $0        $0           $0     $0      $0        $0        $205      #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
  Current Quarter Interest Paid                   $0        $0           $0     $0      $0        $0      #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
  Current Quarter Accrued Interest                $0        $0           $0     $0      $0        $0      #REF!       #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
Principal Account
  Previous Quarter Principal                       $0       $0           $0     $0      $0         $0    $15,616      #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
  Draw                                             $0       $0           $0     $0      $0    $15,616    #REF!        #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
  Paydown (less interest paid)                     $0       $0           $0     $0      $0         $0    #REF!        #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
  Current Principal Balance                        $0       $0           $0     $0      $0    $15,616    #REF!        #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
Development Loan Balance                           $0       $0           $0     $0      $0    $15,616    #REF!        #REF!          #REF!     #REF!     #REF!     #REF!     #REF!
            Loan IRR (should equal int. rate) #VALUE!

EQUITY
Equity Investment                            $9,378
Equity IRR                                    17.7%
ROI using Goal seek                           19.1% [19.1% after Goal Seek]
Present Value of Equity Cash Flow            $1,276      $325      $311       $267    $680     $5,068          $0              $0        $0        $0        $0        $0        $0
Sum of Present Values of Equity Cash Flow        $0 [before Goal Seek = -37,579]
exponent in denominator                        0.00      0.25       0.50       0.75    1.00      1.25        1.50             1.75     2.00      2.25      2.50      2.75      3.00

NOTES
Note 1: Distribution of site improvement costs by phase is as follows:
Phase                                     Site Improvement Budget                                       site imps check sum
          % of Grading % of Utilities % of Streets % of Lndscpng   Cost      g16      820,120
Phase 1          80%          30%           20%          20%       11,069    g27    5,385,800
Phase 2           5%          30%           30%          20%        5,682    g38    1,650,247
Phase 3           5%          23%           25%          20%        4,794    g45    1,575,520
Phase 4           5%          10%           15%          10%        2,464    g53      753,780
Phase 5           5%           7%           10%          30%        3,363    g63    2,635,867
                                                   Checksum=        27,371   g71    4,421,550
                                                                             g86    5,566,500
                                                                             d88    4,561,877
                                                                                   27,371,260
Year 4                                      Year 5                                  Year 6                                 Year 7                                  Year 8
 Q2          Q3         Q4        Q1         Q2       Q3        Q4        Q1        Q2       Q3        Q4        Q1        Q2        Q3        Q4        Q1        Q2
  14         15         16        17          18      19        20        21        22       23        24        25        26        27        28        29        30


         0         0         32        64        96     128       160       192       224      256       288       320        352      384       416       448       480


    $0            $0   $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233                     $10,233 $10,233 $10,233 $10,233 $10,233
    $0            $0      ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)                       ($16)   ($16)   ($16)   ($16)   ($16)
    $0            $0     ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)                      ($184)  ($184)  ($184)  ($184)  ($184)
    $0            $0     ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)                      ($102)  ($102)  ($102)  ($102)  ($102)
    $0            $0      ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)                       ($41)   ($41)   ($41)   ($41)   ($41)
    $0            $0    $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890                      $9,890  $9,890  $9,890  $9,890  $9,890


     $0           $0         $0        $0        $0        $0        $0        $0      $0         $0        $0        $0       $0         $0        $0        $0      $0

     $0           $0         $0        $0        $0       $0        $0        $0        $0       $0         $0      $0         $0       $0        $0        $0        $0
     $0           $0         $0        $0        $0   $1,136    $1,136    $1,136    $1,136   $1,136         $0      $0         $0       $0        $0        $0        $0
     $0           $0         $0        $0        $0       $0        $0        $0        $0       $0         $0    $959       $959     $959      $959      $959        $0
     $0           $0         $0        $0        $0       $0        $0        $0        $0       $0         $0      $0         $0       $0        $0        $0        $0
     $0           $0         $0        $0        $0       $0        $0        $0        $0       $0         $0      $0         $0       $0        $0        $0        $0
     $0           $0         $0        $0        $0   $1,136    $1,136    $1,136    $1,136   $1,136         $0    $959       $959     $959      $959      $959        $0

  $163                   $158                 $148               $137                $127               $117                 $107                $97                 $86

   $52         $52        $52       $52        $52       $52       $52       $52       $52      $52      $52        $52        $52      $52       $52       $52      $52
  $214         $52       $209       $52       $199    $1,188    $1,325    $1,188    $1,315   $1,188     $168     $1,010     $1,117   $1,010    $1,107    $1,010     $138

 $1,342      $2,683     $4,025    $4,025     $4,025   $4,025    $4,025    $4,025    $4,025   $4,025    $4,025    $4,025     $4,025   $4,025    $4,025    $4,025    $4,025
  $329        $658       $987      $987       $987      $987     $987      $987      $987     $987      $987      $987       $987     $987      $987      $987      $987
    $16         $31        $47       $47        $47      $47       $47       $47       $47      $47       $47       $47        $47      $47       $47       $47       $47
  $153        $153
     $0          $0         $0        $0         $0       $0        $0        $0        $0       $0        $0        $0         $0       $0        $0        $0        $0
  $368        $736      $1,104    $1,104     $1,104   $1,104    $1,104    $1,104    $1,104   $1,104    $1,104    $1,104     $1,104   $1,104    $1,104    $1,104    $1,104
    $34         $34        $34       $34        $34      $34       $34       $34       $34      $34       $34       $34        $34      $34       $34       $34       $34

 $2,241      $4,295     $6,196    $6,196     $6,196   $6,196    $6,196    $6,196    $6,196   $6,196    $6,196    $6,196     $6,196   $6,196    $6,196    $6,196    $6,196
   $15       $15       $15      $15      $15      $15          $15      $15      $15      $15      $15      $15       $15         $15      $15      $15      $15
   $10       $10       $10      $10      $10      $10          $10      $10      $10      $10      $10      $10       $10         $10      $10      $10      $10
    $0        $0        $0    $102     $102      $102        $102     $102     $102     $102     $102     $102      $102        $102     $102     $102     $102
   $72       $72       $72      $72      $72      $72          $72      $72      $72      $72      $72      $72       $72         $72      $72      $72      $72
    $0        $0        $0       $0       $0       $0           $0       $0       $0       $0       $0       $0        $0          $0       $0       $0       $0
   $40       $40       $40      $40      $40      $40          $40      $40      $40      $40      $40      $40       $40         $40      $40      $40      $40
 $137      $137      $137     $239     $239      $239        $239     $239     $239     $239     $239     $239      $239        $239     $239     $239     $239
$2,591    $4,483    $6,542   $6,487   $6,634   $7,623       $7,760   $7,623   $7,750   $7,623   $6,604   $7,445    $7,552      $7,445   $7,542   $7,445   $6,573

-$2,591   -$4,483   $3,348   $3,403   $3,256   $2,267       $2,130   $2,267   $2,140   $2,267   $3,286   $2,444    $2,338      $2,444   $2,348   $2,444   $3,317



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    $0        $0        $0       $0       $0       $0           $0       $0       $0       $0       $0       $0           $0       $0       $0       $0       $0

  3.25      3.50      3.75     4.00     4.25     4.50         4.75     5.00     5.25     5.50     5.75     6.00       6.25       6.50     6.75     7.00     7.25




                                                        `
ear 8                                  Year 9                                  Year 10                                 Year 11                                  Year 12
         Q3        Q4        Q1        Q2       Q3        Q4        Q1         Q2        Q3        Q4        Q1        Q2        Q3        Q4        Q1         Q2        Q3
         31        32        33        34       35        36        37         38        39        40        41        42        43        44        45         46        47


           512       544       576       608      640       672       704        736       768       800       832       864       896       928       960        964       996


        $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233               $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233 $10,233                  $1,279 $10,233
           ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)                 ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)   ($16)                    ($2)   ($16)
          ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)                ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)  ($184)                   ($23)  ($184)
          ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)                ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)  ($102)                   ($13)  ($102)
           ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)                 ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)   ($41)                    ($5)   ($41)
         $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890                $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890  $9,890                  $1,236  $9,890


              $0        $0        $0      $0         $0        $0        $0       $0          $0        $0        $0      $0          $0        $0        $0       $0          $0

            $0        $0        $0        $0       $0          $0        $0       $0        $0        $0        $0        $0          $0        $0        $0       $0          $0
            $0        $0        $0        $0       $0          $0        $0       $0        $0        $0        $0        $0          $0        $0        $0       $0          $0
            $0        $0        $0        $0       $0          $0        $0       $0        $0        $0        $0        $0          $0        $0        $0       $0          $0
          $493      $493      $493      $493     $493          $0        $0       $0        $0        $0        $0        $0          $0        $0        $0       $0          $0
            $0        $0        $0        $0       $0          $0        $0     $673      $673      $673      $673      $673          $0        $0        $0       $0          $0
          $493      $493      $493      $493     $493          $0        $0     $673      $673      $673      $673      $673          $0        $0        $0       $0          $0

                     $76                 $66                $56                  $46                 $36                 $25                 $15                  $10          $4

           $52       $52       $52       $52      $52       $52       $52        $52       $52       $52       $52       $52          $0      $0          $0       $0          $0
          $544      $621      $544      $610     $544      $107       $52       $770      $724      $760      $724      $749          $0     $15          $0      $10          $4

         $4,025    $4,025    $4,025    $4,025   $4,025    $4,025    $4,025     $4,025    $4,025    $4,025    $4,025    $4,025    $4,025    $2,851    $2,851    $2,683     $2,516
          $987      $987      $987      $987     $987       $987     $987       $987      $987      $987      $987      $987      $987      $699      $699      $658       $617
            $47       $47       $47       $47      $47       $47       $47        $47       $47       $47       $47       $47       $47       $33       $33       $31        $29

             $0     $228      $228      $228     $228       $228     $228          $0        $0        $0        $0        $0        $0       $0        $0         $0        $0
         $1,104    $1,104    $1,104    $1,104   $1,104    $1,104    $1,104     $1,104    $1,104    $1,104    $1,104    $1,104    $1,104     $782      $782       $736      $690
            $34       $34       $34       $34      $34       $34       $34        $34       $34       $34       $34       $34       $34       $4       $34        $29        $0

         $6,196    $6,425    $6,425    $6,425   $6,425    $6,425    $6,425     $6,196    $6,196    $6,196    $6,196    $6,196    $6,196    $4,370    $4,399    $4,138     $3,852
   $15      $15      $15      $15       $15       $15       $15        $15      $15       $15       $15       $15       $15       $15       $15       $15        $0
   $10      $10      $10      $10       $10       $10       $10        $10      $10       $10       $10       $10       $10       $10       $10       $10        $0
 $102     $102     $102     $102      $102       $102     $102       $102     $102      $102      $102      $102      $102      $102      $102      $102        $13
   $72      $72      $72      $72       $72       $72       $72        $72      $72       $72       $72       $72       $72        $9       $72       $63        $0
    $0       $0       $0       $0        $0        $0        $0         $0       $0        $0        $0        $0        $0        $0        $0        $0        $0
   $40      $40      $40      $40       $40       $40       $40        $40      $40       $40       $40       $40       $40       $40       $40       $40       $40
 $239     $239     $239     $239      $239       $239     $239       $239     $239      $239      $239      $239      $239      $176      $239      $230        $53
$6,979   $7,284   $7,208   $7,274    $7,208    $6,771    $6,715     $7,205   $7,159    $7,195    $7,159    $7,185    $6,435    $4,561    $4,638    $4,377    $3,909

$2,910   $2,606   $2,682   $2,616    $2,682    $3,119    $3,175     $2,685   $2,731    $2,695    $2,731    $2,705    $3,455    $5,329    $5,252    -$3,141   $5,981


                           -$1,060   -$2,664   -$3,069   -$3,125   -$2,699   -$2,745   -$2,710   -$2,745   -$2,720   -$3,375   -$5,272   -$1,975      -$26   -$5,731
#REF!    #REF!    #REF!    #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!
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#REF!    #REF!    #REF!    #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!     #REF!




    $0       $0       $0    -$250     -$601     -$663     -$646      -$534    -$520     -$491     -$476     -$452     -$537     -$802     -$288        -$4    -$765

  7.50     7.75     8.00      8.25      8.50      8.75      9.00      9.25      9.50      9.75    10.00     10.25     10.50     10.75     11.00     11.25     11.50
 Q4        Q1
 48        49        Totals


  1024     1024


$8,954          $0   $327,448
  ($14)         $0      -$512
 ($161)         $0    -$5,885
  ($89)         $0    -$3,269
  ($36)         $0    -$1,308
$8,654          $0   $316,474


      $0        $0    $22,236

      $0        $0    $11,069
      $0        $0     $5,682
      $0        $0     $4,794
      $0        $0     $2,464
      $0        $0     $3,363
      $0        $0    $27,371

      $0        $0     $2,125 ok
                       $1,179
      $0        $0     $4,103
      $0        $0    $57,013

$1,174          $0 $128,800
 $288           $0 $31,572
   $14          $0   $1,503
                      $458
    $0          $0   $1,371
  $322          $0 $35,339
    $0          $0 #REF!

$1,798          $0    #REF!
    $0        $0      $975 ok
    $0        $0      $370 ok
 $102        $89     $3,269
    $0        $0     $2,289
    $0        $0     $2,560
    $0        $0     $1,880 ok
 $102        $89    $11,343
$1,900       $89    #REF!

$6,754      -$89    #REF!


-$6,931     -$110   -$37,579   70.7% short formula
#REF!     #REF!      #REF!     70.7% long formula
#REF!     #REF!      #REF!

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 -$885      -$13

 11.75     12.00
Bayview Village                                                                                      Hayward Area Planning Associ

Event Timing Worksheet
INPUT - ASSUMPTION
Build Cycle (Quarters, Note 1)                           2
Absorption Rate (2)                                     32 from Inputs
% Sales triggering next phase                          80%                                         TYPICAL BUILD CYCLE
                                                     Yr       Qtr                                    Quarter         1
Start of Sales (Year, Quarter)                           4         1                            Loan Draw(%)      50%
Entitlements Obtained (4)                                1         0

YEAR                                                        Year 1 Enitlement                      Year 2 Design
QUARTER                                              Q1          Q2        Q3     Q4       Q1        Q2         Q3
                                                           1          2       3        4         5         6       7
Housing Starts, First Pass                                                                       0         0       0
Housing Units Remaining                                    0
Housing Starts                                             0          0      0         0         0         0        0
First Quarter W.I.P.                                                  0      0         0         0         0        0
Second Quarter W.I.P.                                                        0         0         0         0        0
Third Quarter W.I.P.                                                                   0         0         0        0
Fourth Quarter W.I.P.                                                                            0         0        0
Housing Completions/ Units sold                                                                  0         0        0
  Phase 1 Site Improvements
Entitlements Obtained                                      0          0      0         1         0         0        0
Phase Construction Starts
Phase 1                                                    0          0      0         0         0         0        0
Phase 2                                                    0          0      0         0         0         0        0
Phase 3                                                    0          0      0         0         0         0        0
Phase 4                                                    0          0      0         0         0         0        0
Phase 5                                                    0          0      0         0         0         0        0
      =32 qtrs, 8 years, 32 sales/qtr
Community Center Start                                     0          0      0         0         0         0        0
Commercial Completion                                                                  0         0         0        0

Site Construction Period (Qtrs)                           35

Notes:
Note 1: Allowable range is from 1 to 4 quarters
Note 2: Units sold per quarter, must be higher than 10 units
Note 3: Computed Phase Triggers are (remaining DU inventory):
    Phase 1                                      Entitlements plus 1 year
    Phase 2                                               860
    Phase 3                                               655
    Phase 4                                               450
    Phase 5                                           246
Note 4: Minimum time allowed is 1 year + 2 quarters
ard Area Planning Association                                             sales B16 is total dweling units




L BUILD CYCLE                                                             UNIT QUANTITY BY PHASE
                   2           3       4                                         1         2       3                 4          5
                 50%          0%      0%                                       205      205      205               204        205


                              Year 3 Improvements                       Year 4 Q3 sales                                     Year 5
                Q4       Q1          Q2      Q3       Q4        Q1         Q2         Q3              Q4          Q1        Q2
                     8         9        10       11        12        13        14        15                  16        17      18
                     0         0         0        0         0         0        32        32                  32        32      32
                                                                1,024            992         960         928       896        864
                     0         0        0        0         0          0           32          32             32        32      32
                     0         0        0        0         0          0            0          32             32        32      32
                     0         0        0        0         0          0            0            0            32        32      32
                     0         0        0        0         0          0            0            0            0         0        0
                     0         0        0        0         0          0            0            0            0         0        0
                     0         0        0        0         0          0            0            0            32        32      32


                     0         0        0        0         0          0            0            0            0         0        0


                     1         0        0        0         0          0            0            0            0         0        0
                     0         0        0        0         0          0            0            0            0         0        0
                     0         0        0        0         0          0            0            0            0         0        0
                     0         0        0        0         0          0            0            0            0         0        0
                     0         0        0        0         0          0            0            0            0         0        0


                     0         0        0        0         0          0            0            0            0         0        0
         1,024


Year 5                                 Year 6                                 Year 7                                 Year 8
         Q3        Q4        Q1        Q2       Q3        Q4        Q1        Q2       Q3        Q4        Q1
              19        20        21      22         23        24        25      26         27        28        29
              32        32        32      32         32        32        32      32         32        32        32
          832       800       768        736     704       672       640        608     576       544       512
              32        32        32      32         32        32        32      32         32        32        32
              32        32        32      32         32        32        32      32         32        32        32
              32        32        32      32         32        32        32      32         32        32        32
              0         0         0        0         0         0         0        0         0         0         0
              0         0         0        0         0         0         0        0         0         0         0
              32        32        32      32         32        32        32      32         32        32        32




              0         0         0        0         0         0         0        0         0         0         0
              1         0         0        0         0         0         0        0         0         0         0
              0         0         0        0         0         0         1        0         0         0         0
              0         0         0        0         0         0         0        0         0         0         0
              0         0         0        0         0         0         0        0         0         0         0


              0         0         0        0         0         0         0        0         0         0         0
Year 8                                 Year 9                                 Year 10
Q2       Q3        Q4        Q1        Q2       Q3        Q4        Q1        Q2        Q3        Q4
   30         31        32        33      34         35        36        37   38        39        40
   32         32        32        32      32         32        32        32      32          32        32
  480     448       416       384        352     320       288       256        224      192       160
   32         32        32        32      32         32        32        32      32          32        32
   32         32        32        32      32         32        32        32      32          32        32
   32         32        32        32      32         32        32        32      32          32        32
    0         0         0         0        0         0         0         0
    0         0         0         0        0         0         0         0
   32         32        32        32      32         32        32        32      32          32        32




    0         0         0         0        0         0         0         0        0          0         0
    0         0         0         0        0         0         0         0        0          0         0
    0         0         0         0        0         0         0         0        0          0         0
    0         1         0         0        0         0         0         0        0          0         0
    0         0         0         0        0         0         0         0        1          0         0


    0         1         0         0        0         0         0         0        0          0         0
          Year 11                                 Year 12
Q1        Q2        Q3        Q4        Q1        Q2        Q3        Q4        Q1
41        42        43        44        45        46        47        48        49       Totals
     32      32          32        4         32                                              996
 128         96          64        60        28                  0         0
     32      32          32        4         32      28          0                         1,024
     32      32          32        32        4       32          28                        1,024
     32      32          32        32        32       4          32        28              1,024



     32      32          32        32        32       4          32        28




     0        0          0         0         0        0          0         0         0
     0        0          0         0         0        0          0         0         0
     0        0          0         0         0        0          0         0         0
     0        0          0         0         0        0          0         0         0
     0        0          0         0         0        0          0         0         0


     0        0          0         0         0        0          0         0         0
0


0
0
0

0

0


0

0
0
0
0

0
0
0
0
0

				
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