Docstoc

Residential Contractor Construction Contract Template

Document Sample
Residential Contractor Construction Contract Template Powered By Docstoc
					State of California                                                                                    Business, Transportation, and Housing Agency
Department of Housing and Community Development                                                             Committee Meeting Date:
Project Report Date:                                                                                                     Action Item:

                                        Home Investment Partnerships Program Project Report
                  PROJECT NAME:
               PROJECT ADDRESS:                                                                                 TAX CREDIT PROJECT
                PROJECT COUNTY:
                                                                                                                        9%
                      APPLICANT:
                       SPONSOR:                                                                                         4%
           TYPE OF ORGANIZATION:
                                                                                                                SENIOR
              SPONSOR CONTACT:
       SPONSOR MAILING ADDRESS:                                                                                 SPECIAL NEEDS

                    PREPARED BY:                                                                                RURAL
Project Summary




Project Description
Loan Request:                               HOME Cost/Restrict. Unit      #DIV/0!
Total Developmnt Cost:                $0          Total Cost/Unit:1       #DIV/0!
Ultimate Borrower:
General Partner:
Architect:
General Contractor:                                                                            Construction Start Date:
Consultant:                                                                              Construction Completion Date:
Property Management:                                                                              Ultimate Site Control:
Project Type:                                                                                                Land Area:              acres
Project Design:                                                                                  Total Residential Area:             sq. ft.
# Residential Bldgs:                                                                                  Community Room:                sq. ft.
# Stories:                                                                                                  # Elevators:
Parking Spaces:                                                                               # Guest Parking Spaces :
Parking Type:                                                                                         Commercial Uses:               sq. ft.
                                                                                                            Other Uses:              sq. ft.
Construction Period Funding:
Source                                                    Lien             Status        Amount                              Terms
                                                            1
                                                            2
                                                            3
                                                            4




                                    Total                                                         $0
Permanent Funding:
Source                                                     Lien            Status        Amount                              Terms




                                    Total                                                         $0
NOTES:
1. Tax Credit Equity amount is based on ___ to ___ cents per one dollar of tax credit.




         NOFA: June 1, 2009                                             Page 1                     d54a443a-19e1-4c57-90f1-832f37f6e289.xls
        State of California                                                            Business, Transportation, and Housing Agency
        Department of Housing and Community Development                                      Committee Meeting Date:        1/0/1900
        Project Report Date:    1/0/1900                                                                  Action Item:             0


                               AMI for County of : El Dorado (4 person household): $36,400
        Unit Mix                                       State Median Income (4 person household): $67,800
                                                          Rent
          # of         # of      HOME         Total                        Utility
                                                          (less                           Income Limit
         Bdrms.        Units    Assisted    Restricted                  Allowance
                                                         utilities)




                                                                                                  Manager
          Total          0            0          0           0             Avg. Bdrms. Per Unit   #DIV/0!
        Rent Subsidy:          None                                    Annual Subsidy Amount: None
        Feasibility Analysis
        Sponsor Experience:




        Market Info:




                                  Unit                    Max.
                                              Market                                 Percent of
                                  Type                   Project        Difference
                                               Rent                                   Market
                                (Bedrms)                  Rent
                                                $0         $0                  $0     #DIV/0!
                                                $0         $0                  $0     #DIV/0!
                                                $0         $0                  $0     #DIV/0!
                                                $0         $0                  $0     #DIV/0!
                                                $0         $0                  $0     #DIV/0!
                                                $0         $0                  $0     #DIV/0!
        Environmental Risks:




        Article XXXIV:




        Relocation:


        NOTES:




NOFA: June 1, 2009                                                    Page 2                         d54a443a-19e1-4c57-90f1-832f37f6e289.xls
  State of California                                    Business, Transportation, and Housing Agency
  Department of Housing and Community Development             Committee Meeting Date:         1/0/1900
  Project Report Date: 1/0/1900                                            Action Item:              0
                                                                                              1/0/1900


  Special Conditions:




  THIS PROJECT REPORT IS SUBJECT TO THE GENERAL CONDITIONS ATTACHED HERETO AND
  INCORPORATED HEREIN BY THIS REFERENCE.




NOFA: June 1, 2009                              Page 3           d54a443a-19e1-4c57-90f1-832f37f6e289.xls
State of California                                                                                       Business, Transportation, and Housing Agency
Department of Housing and Community Development                                                                    Committee Meeting Date: 1/0/1900
Project Report Date: 1/0/1900                                                                                                    Action Item:         0
                                                                                                                                               1/0/1900


                                                         DEVELOPMENT BUDGET
                                                                   Residential                    Commercial
                                           Total Cost     Total       Per Unit      Per Sq. Ft.      Total                       Comments
ACQUISITION
Lesser of Land Cost or Value                                      $0      #DIV/0!    #DIV/0!
Demolition                                                        $0      #DIV/0!    #DIV/0!
Legal & Closing Costs                                             $0      #DIV/0!    #DIV/0!
Verifiable Carrying Costs                                         $0      #DIV/0!    #DIV/0!
Subtotal                                            $0            $0      #DIV/0!    #DIV/0!              $0
Existing Improvements Cost                                        $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Total Acquisition                                   $0            $0      #DIV/0!    #DIV/0!              $0
RELOCATION
Temporary Relocation                                              $0      #DIV/0!    #DIV/0!
Permanent Relocation                                              $0      #DIV/0!    #DIV/0!
Total Relocation                                    $0            $0      #DIV/0!    #DIV/0!              $0
NEW CONSTRUCTION
Off-Site Improvements                                             $0      #DIV/0!    #DIV/0!
Environmental Remediation                                         $0      #DIV/0!    #DIV/0!
Site Work (hard costs)                                            $0      #DIV/0!    #DIV/0!
Structures (hard costs)                                           $0      #DIV/0!    #DIV/0!
General Requirements                                              $0      #DIV/0!    #DIV/0!
Contractor Overhead                                               $0      #DIV/0!    #DIV/0!
Contractor Profit                                                 $0      #DIV/0!    #DIV/0!
General Liability Insurance                                       $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Total New Construction                              $0            $0      #DIV/0!    #DIV/0!              $0
ARCHITECTURAL
Design                                                            $0      #DIV/0!    #DIV/0!
Supervision                                                       $0      #DIV/0!    #DIV/0!
Total Architectural Costs                           $0            $0      #DIV/0!    #DIV/0!              $0
SURVEY & ENGINEERING
Engineering                                                       $0      #DIV/0!    #DIV/0!
ALTA Land Survey                                                  $0      #DIV/0!    #DIV/0!
Total Survey & Engineering                          $0            $0      #DIV/0!    #DIV/0!              $0
CONTINGENCY COSTS
Hard Cost Contingency                                             $0      #DIV/0!    #DIV/0!
Soft Cost Contingency                                             $0      #DIV/0!    #DIV/0!
Total Contingency Costs                             $0            $0      #DIV/0!    #DIV/0!              $0
CONSTRUCTION PERIOD EXPENSES
Construction Loan Interest                                        $0      #DIV/0!    #DIV/0!
Origination Fee                                                   $0      #DIV/0!    #DIV/0!
Credit Enhancement & App. Fee                                     $0      #DIV/0!    #DIV/0!
Owner Paid Bonds/Insurance                                        $0      #DIV/0!    #DIV/0!
Lender Inspection Fees                                            $0      #DIV/0!    #DIV/0!
Taxes During Construction                                         $0      #DIV/0!    #DIV/0!
Prevailing Wage Monitor                                           $0      #DIV/0!    #DIV/0!
Insurance During Construction                                     $0      #DIV/0!    #DIV/0!
Title and Recording Fees                                          $0      #DIV/0!    #DIV/0!
Construction Mgmt. & Testing                                      $0      #DIV/0!    #DIV/0!
Predevelopment Interest Exp.                                      $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Total Construction Expenses                         $0            $0      #DIV/0!    #DIV/0!              $0
PERMANENT FINANCING EXPENSES
Loan Origination Fee(s)                                           $0      #DIV/0!    #DIV/0!
Credit Enhancement & App. Fee                                     $0      #DIV/0!    #DIV/0!
Title and Recording                                               $0      #DIV/0!    #DIV/0!
Property Taxes                                                    $0      #DIV/0!    #DIV/0!
Insurance                                                         $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Total Permanent Financing                           $0            $0      #DIV/0!    #DIV/0!              $0
LEGAL FEES
Construction Lender Legal Expenses                                $0      #DIV/0!    #DIV/0!
Permanent Lender Legal Fees                                       $0      #DIV/0!    #DIV/0!
Sponsor Legal Fees                                                $0      #DIV/0!    #DIV/0!
Organizational Legal Fees                                         $0      #DIV/0!    #DIV/0!
Syndication Legal Fees                                            $0      #DIV/0!    #DIV/0!
Other: (specify)                                                  $0      #DIV/0!    #DIV/0!
Total Legal Fees                                    $0            $0      #DIV/0!    #DIV/0!              $0
CAPITALIZED RESERVES


    NOFA: June 1, 2009                                                 Page 4                                  d54a443a-19e1-4c57-90f1-832f37f6e289.xls
                                                                   DEVELOPMENT BUDGET
                                                                               Residential                     Commercial
                                                  Total Cost         Total        Per Unit       Per Sq. Ft.      Total                       Comments
Operating Reserve                                                            $0    #DIV/0!        #DIV/0!
Replacement Reserve                                                          $0    #DIV/0!        #DIV/0!
Rent-Up Reserve                                                              $0    #DIV/0!        #DIV/0!
Transition Reserve                                                           $0    #DIV/0!        #DIV/0!
Other: (specify)                                                             $0    #DIV/0!        #DIV/0!
Other: (specify)                                                             $0    #DIV/0!        #DIV/0!
Total Capitalized Reserves                                  $0               $0    #DIV/0!        #DIV/0!              $0
REPORTS & STUDIES
Appraisal(s)                                                                 $0      #DIV/0!      #DIV/0!
Market Study                                                                 $0      #DIV/0!      #DIV/0!
Physical Needs Assessment                                                    $0      #DIV/0!      #DIV/0!
Environmental Studies                                                        $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Total Reports & Studies                                     $0               $0      #DIV/0!      #DIV/0!              $0
OTHER
TCAC App./Alloc./Monitor Fees                                                $0      #DIV/0!      #DIV/0!
CDLAC Fees                                                                   $0      #DIV/0!      #DIV/0!
Local Permit Fees                                                            $0      #DIV/0!      #DIV/0!
Local Development Impact Fees                                                $0      #DIV/0!      #DIV/0!
Other Costs of Bond Issuance                                                 $0      #DIV/0!      #DIV/0!
Syndicator / Investor Fees & Expenses                                        $0      #DIV/0!      #DIV/0!
Furnishings                                                                  $0      #DIV/0!      #DIV/0!
Final Cost Audit Expense                                                     $0      #DIV/0!      #DIV/0!
Marketing                                                                    $0      #DIV/0!      #DIV/0!
Financial Consulting                                                         $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Total Other Costs                                           $0               $0      #DIV/0!      #DIV/0!              $0
SUBTOTAL                                                    $0               $0      #DIV/0!      #DIV/0!              $0
DEVELOPER COSTS
Developer Fee/Overhead/Profit                                                $0      #DIV/0!      #DIV/0!
Consultant/Processing Agent                                                  $0      #DIV/0!      #DIV/0!
Project Administration                                                       $0      #DIV/0!      #DIV/0!
Syndicator Consultant Fees                                                   $0      #DIV/0!      #DIV/0!
Guarantee Fees                                                               $0      #DIV/0!      #DIV/0!
Broker Fees Paid to Related Party                                            $0      #DIV/0!      #DIV/0!
Construction Oversight & Mgmt.                                               $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Other: (specify)                                                             $0      #DIV/0!      #DIV/0!
Total Developer Costs                                       $0               $0      #DIV/0!      #DIV/0!              $0
TOTAL DEVELOPMENT COST                                      $0               $0      #DIV/0!      #DIV/0!              $0


                            Total Developer Fee (equals Subtotal Developer Costs above):             $0
                                       Sponsor Capital Contribution of Funds or Real Property:       $0
                           Maximum Total Developer Fee allowable from Development Funding            $0
                                                                                    Sources:
                                Developer Fee to be paid from Development Funding Sources:
                                                                                                     $0
                                                  (not including any Deferred Developer Fee)
                            Amount of Deferred Developer Fee payable on a priority basis from        $0
                                                                        Available Cash Flow:
                             Deferred Developer Fee payable from allowable 50% Distribution:         $0

Notes:




     NOFA: June 1, 2009                                                           Page 5                                    d54a443a-19e1-4c57-90f1-832f37f6e289.xls
State of California                                                                                     Business, Transportation, and Housing Agency
Department of Housing and Community Development                                                         Committee Meeting Date:              1/0/1900
Project Report Date: 1/0/1900                                                                                       Action Item:                    0
                                                                                                                                            1/0/1900

                                                     ANNUAL INCOME AND EXPENSES

                                                     ON-SITE EMPLOYEE INFORMATION
                                                                                                                                        AVG
 No.    FTE Employee Job Title                                          Salary/Wages        Value of Free Rent AVG Unit/Year
                                                                                                                                    Unit/Year/Mo
             On-Site Manager(s)                                                        $0                 $0       #DIV/0!            #DIV/0!
             On-Site Assistant Manager(s)                                              $0                 $0       #DIV/0!            #DIV/0!
             On-Site Maintenance Employee(s)                                           $0                 $0       #DIV/0!            #DIV/0!
             On-Site Leasing Agent/Administrative Employee(s)                          $0                 $0       #DIV/0!            #DIV/0!
             On-Site Security Employee(s)                                              $0                 $0       #DIV/0!            #DIV/0!
             Services Coordinator                                                      $0                 $0       #DIV/0!            #DIV/0!
                                                                                       $0                 $0       #DIV/0!            #DIV/0!
                                                                                       $0                 $0       #DIV/0!            #DIV/0!
                      Total Salaries and Value of Free Rent Units                      $0                 $0       #DIV/0!            #DIV/0!
      6711 Payroll Taxes                                                               $0 Show free rent as
      6722 Workers Compensation                                                        $0 an
                                                                                          expense?
      6723 Employee Benefits                                                           $0
                                                                                                Yes       No
    On-Site Employee(s) Payroll Taxes, Workers Comp. & Benefits                        $0
                             Total On-Site Employee(s) Expenses                        $0
                                                                 Employee Units
  Income                                                                   Unit Type
             Job Title(s) of Employee(s) Living On-Site                                      Square Footage
   Limit                                                                (No. of bdrms.)
    None     On-Site Manager(s)                                                 0                  0
                                                                                0                  0
                                                                                0                  0
                                                                     Total Square Footage          0
                                                            Annual Operating Budget
                                                                                                                   AVG                AVG
 Acct. No. REVENUE - INCOME                                             Residential          Commercial
                                                                                                                 Unit/Year        Unit/Year/Mo
 5120/5140   Rent Revenue - Gross Potential                                            $0                 $0       #DIV/0!             #DIV/0!
   5121      Tenant Assistance Payments                                                $0                 $0       #DIV/0!             #DIV/0!
             Operating Subsidies                                                       $0                          #DIV/0!             #DIV/0!
             Other: (specify)                                                          $0                 $0       #DIV/0!             #DIV/0!
    5910     Laundry and Vending Revenue                                               $0                 $0       #DIV/0!             #DIV/0!
    5170     Garage and Parking Spaces                                                 $0                 $0       #DIV/0!             #DIV/0!
    5990     Miscellaneous Rent Revenue                                                $0                 $0       #DIV/0!             #DIV/0!
                                    Gross Potential Income (GPI)                       $0                 $0       #DIV/0!             #DIV/0!

             Vacancy Rate(s) - Tenant Assistance Payments                           5.0%               50.0%
             Vacancy Rate(s) - express as a percentage                              5.0%               50.0%
 5220/5240   Vacancy Loss(es)                                                         $0                  $0       #DIV/0!             #DIV/0!
                                      Effective Gross Income (EGI)                    $0                  $0       #DIV/0!             #DIV/0!

                                                                                                                   AVG                AVG
 Acct. No. EXPENSES                                                     Residential          Commercial
                                                                                                                 Unit/Year        Unit/Year/Mo
             ADMINISTRATIVE EXPENSES: 6200/6300
    6203     Conventions and Meetings                                                  $0                 $0       #DIV/0!             #DIV/0!
    6210     Advertising and Marketing                                                 $0                 $0       #DIV/0!             #DIV/0!
    6250     Other Renting Expenses                                                    $0                 $0       #DIV/0!             #DIV/0!
    6310     Office/Administrative Salaries -- from above                              $0                 $0       #DIV/0!             #DIV/0!
    6311     Office Expenses                                                           $0                 $0       #DIV/0!             #DIV/0!
    6312     Office or Model Apartment Rent                                            $0                 $0       #DIV/0!             #DIV/0!
    6320     Management Fee                                                            $0                 $0       #DIV/0!             #DIV/0!
    6325     Social Services Coordinator -- from above                                 $0                 $0       #DIV/0!             #DIV/0!
    6330     Site/Resident Manager(s) Salaries -- from above                           $0                 $0       #DIV/0!             #DIV/0!
    6331     Administrative Free Rent Unit -- from above                               $0                 $0       #DIV/0!             #DIV/0!
    6340     Legal Expense -- Project                                                  $0                 $0       #DIV/0!             #DIV/0!
    6350     Audit Expense                                                             $0                 $0       #DIV/0!             #DIV/0!
    6351     Bookkeeping Fees/Accounting Services                                      $0                 $0       #DIV/0!             #DIV/0!
    6390     Miscellaneous Administrative Expenses                                     $0                 $0       #DIV/0!             #DIV/0!
    6391     Social Programs/Social Services                                           $0                 $0       #DIV/0!             #DIV/0!
   6263T                       TOTAL ADMINISTRATIVE EXPENSES                           $0                 $0       #DIV/0!             #DIV/0!




NOFA: June 1, 2009                                                   Page 6                               d54a443a-19e1-4c57-90f1-832f37f6e289.xls
                                                      ANNUAL INCOME AND EXPENSES
                                                                                                                   AVG                AVG
 Acct. No. EXPENSES (continued)                                         Residential          Commercial
                                                                                                                 Unit/Year        Unit/Year/Mo

             UTILITIES EXPENSES: 6400
   6450      Electricity                                                                $0                 $0       #DIV/0!           #DIV/0!
   6451      Water                                                                      $0                 $0       #DIV/0!           #DIV/0!
   6452      Gas                                                                        $0                 $0       #DIV/0!           #DIV/0!
   6453      Sewer                                                                      $0                 $0       #DIV/0!           #DIV/0!
             Other Utilities: (specifiy)                                                $0                 $0       #DIV/0!           #DIV/0!
   6400T                                   TOTAL UTILITIES EXPENSES                     $0                 $0       #DIV/0!           #DIV/0!

             OPERATING AND MAINTENANCE EXPENSES: 6500
   6510      Payroll -- from above                                                      $0                 $0       #DIV/0!           #DIV/0!
   6515      Supplies                                                                   $0                 $0       #DIV/0!           #DIV/0!
   6520      Contracts                                                                  $0                 $0       #DIV/0!           #DIV/0!
   6521      Operating & Maintenance Free Rent Unit -- from above                       $0                 $0       #DIV/0!           #DIV/0!
   6525      Garbage and Trash Removal                                                  $0                 $0       #DIV/0!           #DIV/0!
   6530      Security Contract                                                          $0                 $0       #DIV/0!           #DIV/0!
   6531      Security Free Rent Unit -- from above                                      $0                 $0       #DIV/0!           #DIV/0!
   6546      Heating/Cooling Repairs and Maintenance                                    $0                 $0       #DIV/0!           #DIV/0!
   6548      Snow Removal                                                               $0                 $0       #DIV/0!           #DIV/0!
   6570      Vehicle & Maintenance Equipment Operation/Reports                          $0                 $0       #DIV/0!           #DIV/0!
   6590      Miscellaneous Operating and Maintenance Expenses                           $0                 $0       #DIV/0!           #DIV/0!
   6500T         TOTAL OPERATING & MAINTENANCE EXPENSES                                 $0                 $0       #DIV/0!           #DIV/0!

             TAXES AND INSURANCE: 6700
   6710      Real Estate Taxes                                                          $0                 $0       #DIV/0!           #DIV/0!
   6711      Payroll Taxes (Project's Share) -- from above                              $0                 $0       #DIV/0!           #DIV/0!
   6720      Property and Liability Insurance (Hazard)                                  $0                 $0       #DIV/0!           #DIV/0!
   6729      Other Insurance (e.g. Earthquake)                                          $0                 $0       #DIV/0!           #DIV/0!
   6721      Fidelity Bond Insurance                                                    $0                 $0       #DIV/0!           #DIV/0!
   6722      Worker's Compensation -- from above                                        $0                 $0       #DIV/0!           #DIV/0!
   6723      Health Insurance/Other Employee Benefits--from above                       $0                 $0       #DIV/0!           #DIV/0!
   6790      Miscellaneous Taxes, Licenses, Permits & Insurance                         $0                 $0       #DIV/0!           #DIV/0!
   6700T                              TOTAL TAXES AND INSURANCE                         $0                 $0       #DIV/0!           #DIV/0!

             ASSISTED LIVING/BOARD & CARE: 6900
   6932      Food                                                                       $0                 $0       #DIV/0!           #DIV/0!
   6980      Recreation and Rehabilitation                                              $0                 $0       #DIV/0!           #DIV/0!
   6983      Rehabilitation Salaries                                                    $0                 $0       #DIV/0!           #DIV/0!
   6990      Other Service Expenses: (specify)                                          $0                 $0       #DIV/0!           #DIV/0!
   6900T                        TOTAL ASSISTED LIVING EXPENSES                          $0                 $0       #DIV/0!           #DIV/0!

             TOTAL OPERATING EXPENSES                                                   $0             $0          #DIV/0!           #DIV/0!

             FUNDED RESERVES: 7200                                        Residential         Commercial
   7210      Required Replacement Reserve Deposits                                      $0                 $0       #DIV/0!           #DIV/0!
   7220      Other Reserves: (specify)                                                  $0                 $0       #DIV/0!           #DIV/0!
   7230      Other Reserves: (specify)                                                  $0                 $0       #DIV/0!           #DIV/0!
   7240      Other Reserves: (specify)                                                  $0                 $0       #DIV/0!           #DIV/0!
                                                   TOTAL RESERVES                       $0                 $0       #DIV/0!           #DIV/0!

             NET OPERATING INCOME                                                       $0             $0          #DIV/0!           #DIV/0!




NOFA: June 1, 2009                                                    Page 7                               d54a443a-19e1-4c57-90f1-832f37f6e289.xls
                                                       ANNUAL INCOME AND EXPENSES
              FINANCIAL EXPENSES: 6800
    6820      1st Mortgage Debt Service                                                      $0                   $0       #DIV/0!            #DIV/0!
    6830      2nd Mortgage Debt Service                                                      $0                   $0       #DIV/0!            #DIV/0!
    6840      3rd Mortgage Debt Service                                                      $0                   $0       #DIV/0!            #DIV/0!
    6890      Miscellaneous Financial Expenses: (specify)                                    $0                   $0       #DIV/0!            #DIV/0!
   6800T                               TOTAL FINANCIAL EXPENSES                              $0                   $0       #DIV/0!            #DIV/0!

               CASH FLOW                                                                     $0                   $0       #DIV/0!           #DIV/0!

    6391      Social Programs/Social Services                                                $0                            #DIV/0!            #DIV/0!
    6590      Asset Management/Similar Fees                                                  $0                   $0       #DIV/0!            #DIV/0!
                                                                                Per Year              Per Month
Total Operating Expenses Per Unit
Without any Adjustments                                                            #DIV/0!              #DIV/0!
Without RE Taxes, Social Services Coordinator or Social
 Services/Social Programs and Without the Value of Rent Fee Units                  #DIV/0!              #DIV/0!
 Included

Reserves

OPERATING: The $xxxxxx capitalized in the Development Budget meets the required Operating Reserve amount per UMR Section 8308 (for tax credit
project - three months of Operating Expenses, three months of Replacement Reserves, and three months of non-contingent debt service).

REPLACEMENT: Development Budget - HOME does not require a capitalized replacement reserve. Annual Operating Budget - Per UMR Sec.
8309(b)(1), the required Annual contribution from cash flow to the replacement reserve is a maximum of .6% of structure costs or $600 per unit,
$xxxxxxxx, with which this project complies.

REPLACEMENT: Development Budget - HOME does not require a capitalized replacement reserve. Per UMR Sec. 8309(b)(2), for rehabilitation
Projects, the initial amount of annual deposits to the replacement reserve account shall be determined by the Department based on the results of a third-
party physical needs assessment. For the purpose of underwriting, this figure is $484 per unit annually. See Special Condition No. ____.

TRANSITION RESERVE: A transition reserve will be required to comply with xxx. The amount required currently is $xx. and is funded through cash flow in
year one and applied to cover potential losses in years two and three.
TRANSITION RESERVE: A transition reserve will be required to comply with xx. The amount required currently is $xx and is included in the Development
Budget.
SAFE HARBOR CALCULATION: The HOME Safe Harbor Range for operating expenses per unit per year for affordable developments in xx County is
between $x - $x. This project's operating expense per unit per year is $x. Operating expenses in this calculation exclude real estate taxes and
assessments and any annual reserves funded from operating cash flow.




NOFA: June 1, 2009                                                        Page 8                                  d54a443a-19e1-4c57-90f1-832f37f6e289.xls
    State of California                                                                                                                                        Business, Transportation, and Housing Agency
    Department of Housing and Community Development                                                                                                                 Committee Meeting Date:         1/0/1900
    Project Report Date: 1/0/1900                                                                                                                                                Action Item:              0
                                                                                                                                                                                                   1/0/1900
                                                                                                          CASH FLOW ANALYSIS

    Income from Restricted Units based on:        1            Restricted Rents                     Proposed Rents


    INCOME FROM HOUSING UNITS    Inflation            Year 1        Year 2        Year 3   Year 4       Year 5       Year 6    Year 7   Year 8   Year 9   Year 10      Year 11       Year 12       Year 13     Year 14       Year 15
    Restricted Unit Rents         2.5%                    0             0             0        0            0            0         0        0        0         0            0             0             0           0             0
    Tenant Assistance Payments    2.5%                    0             0             0        0            0            0         0        0        0         0            0             0             0           0             0
    Operating Subsidies           2.5%                    0             0             0        0            0            0         0        0        0         0            0             0             0           0             0
    Other: (specify)              2.5%                    0             0             0        0            0            0         0        0        0         0            0             0             0           0             0
    GROSS POTENTIAL INCOME - HOUSING                      0             0             0        0            0            0         0        0        0         0            0             0             0           0             0

    OTHER INCOME
    Laundry & Vending             2.5%                    0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other Income                  2.5%                    0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Commercial Income             2.5%                    0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    GROSS POTENTIAL INCOME - OTHER                        0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    GROSS POTENTIAL INCOME - TOTAL                        0             0             0        0            0            0         0        0        0         0             0             0             0           0            0

    VACANCY ASSUMPTIONS
    Restricted Units                      5.0%            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Unrestricted Units                    5.0%            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Tenant Assistance Payments            5.0%            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other: (specify)                      5.0%            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Laundry, Vending & Other Income       5.0%            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Commercial Income                    50.0%            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    TOTAL VACANCY LOSS                                    0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    EFFECTIVE GROSS INCOME                                0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    OPERATING EXPENSES & RESERVE DEPOSITS
    Residential Expenses (w/o Real
    Estate Taxes)                  3.5%                   0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Real Estate Taxes              2.0%                   0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Replacement Reserve            0.0%                   0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other Reserves                 0.0%                   0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Commercial Expenses            3.5%                   0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    TOTAL EXPENSES & RESERVES                             0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    NET OPERATING INCOME                                  0             0             0        0            0            0         0        0        0         0             0             0             0           0            0

    DEBT SERVICE
    1st Mortgage Debt Service                             0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Bridge Loan (repaid from Investor equity)             0
    2nd Mortgage Debt Service                             0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    3rd Mortgage Debt Service                             0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Miscellaneous Financial Expenses: (specify)           0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Total Required Debt Service                           0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    CASH FLOW after all debt service                      0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    DEBT SERVICE COVERAGE RATIO                        0.00          0.00           0.00     0.00         0.00         0.00      0.00     0.00     0.00     0.00         0.00           0.00          0.00        0.00         0.00

    Use of Cash Flow After Debt Service - HCD Projects
    Asset Mgmt./ Similar Fees                             0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Deferred Developer Fee prior to
     Distributions & residual receipt payments            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Cash Available for Residual Receipts Loans
     and Sponsor Distributions                            0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Sponsor Distributions                   50%           0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    HCD Residual Payment                      0%          0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other Residual Payments                   0%          0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other Residual Payments                   0%          0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other Residual Payments                   0%          0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    Other Residual Payments                   0%          0             0             0        0            0            0         0        0        0         0             0             0             0           0            0
    12% of Operating Expenses                             0
    Assumed Max Asset Mgmt/Similar Fees                   0        12,000         12,000   12,000       12,000       12,000    12,000   12,000   12,000   12,000       12,000        12,000        12,000       12,000       12,000
    Cumulative paid Deferred Devloper Fee                 0             0              0        0            0            0         0        0        0        0            0             0             0            0            0




NOFA: June 1, 2009                                                                                                    Page 9                                                                      d54a443a-19e1-4c57-90f1-832f37f6e289.xls
                State of California                                              Business, Transportation, and Housing Agency
                Department of Housing and Community Development                         Committee Meeting Date:       1/0/1900
                                                                                                      Action Item:           0
                                                                Subsidy Name #1
                                                                 Proposed rents
                                                                                             monthly   monthly       annual
                          Rent Level                          Contract                     subsidy by subsidy by subsidy by
                Unit type     (AMI)          # of units        Rent           Tenant rents     unit    unit type    unit type
               n/a        n/a                                                                       $0           $0          $0
               n/a        n/a                                                                       $0           $0          $0
               n/a        n/a                                                                       $0           $0          $0
               n/a        n/a                                                                       $0           $0          $0
                                                                                         Total subsidy          $0           $0


                                                                 Regulated rents
                                                                                             monthly   monthly       annual
                           Rent Level                         Contract                     subsidy by subsidy by subsidy by
                Unit type     (AMI)          # of units        Rent           Tenant rents     unit    unit type    unit type
               n/a        n/a                     3                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
                                                                                         Total subsidy          $0           $0

                                                                Subsidy Name #2
                                                                Proposed rents
                Unit type   Rent Level       # of units       Contract  Tenant rents        monthly     monthly        annual
               n/a          n/a                                                                    $0             $0            $0
               n/a          n/a                                                                    $0             $0            $0
               n/a          n/a                                                                    $0             $0            $0
               n/a          n/a                                                                    $0             $0            $0
                                                                                        Total subsidy             $0            $0

                                                                 Regulated rents
                                                                                             monthly   monthly       annual
                           Rent Level                         Contract                     subsidy by subsidy by subsidy by
                Unit type     (AMI)          # of units        Rent           Tenant rents     unit    unit type    unit type
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
                                                                                         Total subsidy          $0           $0

                                                               Subsidy Name #3
                                                                Proposed rents
                Unit type   Rent Level       # of units       Contract  Tenant rents        monthly     monthly        annual
               n/a          n/a                                                                    $0             $0            $0
               n/a          n/a                                                                    $0             $0            $0
               n/a          n/a                                                                    $0             $0            $0
               n/a          n/a                                                                    $0             $0            $0
                                                                                        Total subsidy             $0            $0

                                                                 Regulated rents
                                                                                             monthly   monthly       annual
                           Rent Level                         Contract                     subsidy by subsidy by subsidy by
                Unit type     (AMI)          # of units        Rent           Tenant rents     unit    unit type    unit type
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
               n/a        n/a                     0                      $0                         $0           $0          $0
                                                                                         Total subsidy          $0           $0

                                                           Other Subsidy (Operating)




               Rent Subsidy (describe type, length of contract, source, etc.)              Annual Subsidy Amount:


               Notes:




NOFA: June 1, 2009                                                         Page 10                         d54a443a-19e1-4c57-90f1-832f37f6e289.xlsile
                                    Developer Fee Worksheet
                                                for
               Tax Credit Projects Subject to the Uniform Multifamily Regulations
                                                           Revised 1/30/08

Instructions: Just complete the yellow, shaded cells - choose only one in the 'A', 'B' or 'C' sections.

A New construction and substantial rehab projects

      1   Number of units (include manager's unit)
      2   First 30 units at:                       $23,000 each                          $                -
      3   Units in excess of 30 at:                 $9,500 each                          $                -
      4   Total (A2 + A3)                                                                                     $       -

                                                                   OR
B Acquisition and rehab projects
     with construction cost for rehab work (excluding contractor profit and overhead) between $8,500 - $31,000 per unit

      1   Number of units (include manager's unit)
      2   First 30 units at:                       $11,000 each                          $                -
      3   Units in excess of 30 at:                 $5,500 each                          $                -
      4   Total (B2 + B3)                                                                                     $       -
                                                                   OR
C All other projects

      1 Number of units (include manager's unit)
      2 Total at:                                     $2,000 per unit                                         $       -

  D       Developer Fee that TCAC would allow to be included in eligible basis
          (ask sponsor for calculation)
  E       Lesser of $1,200,000 or D                                                                           COMPLETE D

  F       Sponsor capital contribution of funds or real property
  G       Maximum allowable Developer Fee payable from development funding sources
          A4, B4 or C2, not to exceed E, plus F                                                               $       -

  H       Developer Fee budgeted for payment from Development Funding Sources
          (cannot exceed line G)
  I       Maximum Deferred Fee payable from cash flow
          prior to Distributions and residual receipts loan payments (E+F-H)                                  $       -

  J       Deferred Developer Fee budgeted for payment from cash flow prior to Distributions
          and residual receipts loan payments (cannot exceed line I)
  K       Deferred Fee budgeted for payment from Distributions                                                $       -

  L       Total developer fee, including Fee payable from Distributions (H+J+K)                               $       -




NOFA: June 1, 2009                                             Page 11               d54a443a-19e1-4c57-90f1-832f37f6e289.xls
                                    Developer Fee Worksheet
                                                 for
             Non-Tax Credit Projects Subject to the Uniform Multifamily Regulations
                                                          Revised 1/30/08


Instructions: just complete the yellow, shaded cells - choose only one from the 'A', 'B' or 'C' sections

A New construction and substantial rehab projects

     1   Number of units (include manager's unit)
     2   First 30 units at:                       $23,000 each                           $                 -
     3   Units in excess of 30 at:                 $9,500 each                           $                 -
     4   Total (A2 + A3)                                                                                       $        -


                                                                  OR


      B Acquisition and rehab projects
       with construction cost for rehab work (excluding contractor profit and overhead) between $8,500 - $31,000 per unit

     1   Number of units (include manager's unit)
     2   First 30 units at:                       $11,000 each                           $                 -
     3   Units in excess of 30 at:                 $5,500 each                           $                 -
     4   Total (B2 + B3)                                                                                       $        -


                                                                  OR


      C All other projects

     1 Number of units (include manager's unit)
     2 Total at:                                     $2,000 per unit                                           $        -



D        Sponsor capital contribution of funds or real property

E        Maximum allowable MHP Developer Fee (A4, B4 or C2 plus D)                                             $        -




NOFA: June 1, 2009                                            Page 11                d54a443a-19e1-4c57-90f1-832f37f6e289.xls

				
DOCUMENT INFO
Description: Residential Contractor Construction Contract Template document sample