Proforma Financial Template

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					TABLE 1

ESTIMATED CONSTRUCTION COSTS
FOR UNIT/PROJECT:
SANTA ANA, CALIFORNIA

I.   Direct Costs
     Off-Site/Infrastructure                                   Allowance                                  $
     On-Site Improvements                                      Sf Land       $             /Sf
     Garage Shell                                              Spaces        $             /Sp
     Residential Building Shell Costs                          Sf GBA        $             /Sf
     Community Room Shell Costs                                Sf GBA        $             /Sf
     Furnishings                                               Units         $             /Unit
     Contractor Fees/ General Conditions                     % Construction Costs
     Construction Bonds                                      % Construction Costs
     Contingency Allowance                                   % Other Direct Costs

     Total Direct Costs                                         Sf GBA       $             /Sf                 $

III. Indirect Costs
     Architecture, Engineering & Consulting                  % Direct Costs                               $
     Public Permits & Fees                                     Units          $            /Unit
     Taxes, Legal & Accounting                               % Direct Costs
     Insurance                                               % Direct Costs
     Marketing & Leasing                                       Units          $            /Unit
     Developer Fee                                           % Direct Costs
     Contingency                                             % Other Indirect Costs

     Total Indirect Costs                                                                                      $

IV. Financing Costs
    Interest During Construction                    $           Financed @               % Interest Rate   $
                                                                Months                     Avg O/S Balance
     Financing Fees
       Construction Loan                            $           Loan Amt                   Points
       Permanent Loan                               $           Loan Amt                   Points
     Capitalized Reserves
       Replacement Reserves                                     Units        $             /Unit
       Operating Reserves                                       Units        $             /Unit

     Total Financing Costs                                                                                     $

V.   Total Construction Costs                                   Units        $             /Unit               $




                                              e66509dc-b57b-4181-884a-7bf4c1141b28.xls                             Page 1
TABLE 2

ESTIMATED NET OPERATING INCOME
FOR PROJECT:
SANTA ANA, CALIFORNIA



I.   Base Net Operating Income 1
     A. Annual Income
         Manager's Unit                                                 Unit(s) @     $          /Month   $
         Units
           One-Bedroom @ _____ Sf                                       Unit(s) @     $          /Month
           Two-Bedroom @ ______ Sf                                      Unit(s) @     $          /Month
           Three-Bedroom @ _____ Sf                                     Unit(s) @     $          /Month
         Units
           One-Bedroom @ _____ Sf                                       Unit(s) @     $          /Month
           Two-Bedroom @ ______ Sf                                      Unit(s) @     $          /Month
           Three-Bedroom @ _____ Sf                                     Unit(s) @     $          /Month
         Laundry/Misc. Income                                           Unit(s) @     $          /Month
         If several levels of rent, add additional columns.
         Gross Income                                                                                     $
         (Less): Vacancy & Collection                                % Gross Income                       $

          Effective Gross Income                                                                              $

     B.   Operating Expenses
          General Operating Expenses                                    Units @       $          /Unit    $
          Property Taxes                                                Units @       $          /Unit
          Social Services                                               Units @       $          /Unit
          Operating Reserve                                             Units @       $          /Unit
          Capital Reserve                                               Units @       $          /Unit

          Total Operating Expenses                                      Units @       $          /Unit        $

     Base Net Operating Income                                                                                $




                                                      e66509dc-b57b-4181-884a-7bf4c1141b28.xls                    Page 2
TABLE 3

ESTIMATED FINANCIAL GAP
FOR UNIT/PROJECT:
SANTA ANA, CALIFORNIA


I.    Available Funding Sources
      A. Conventional Financing - Base NOI
          Base Net Operating Income (Table 2)         $
          Income Available for Mortgage                        % DCR          $              Debt Service
          Interest Rate                                        % Interest                  % Constant

          Conventional Loan                                                                                 $

      B. Other Funding Sources
         Source #1 (Specifiy)                                                                $
         Source #2 (Specifiy)
         Source #3 (Specifiy)
         Source #4 (Specifiy)
         Source #5 (Specifiy)

      Total Available Funding Sources                                                                       $


II.   Financial Gap Calculation
      Total Construction Costs (TABLE 1)                                                     $
      (Less) Available Funding Sources

      Total Financial Gap                                         Units       $              /Unit          $




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