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Orange Community Housing Corporation <br />Scarlett Drive Townhomes Mar-99 <br />Sources and Uses <br />14 units on 1.4 acres <br />Sources: Totals Per Unit <br />CDBG Committed $23,770 $1,698 <br />HOME Committed $50,000 $3,571 <br />New HOME $70,000 $5,000 <br />New CDBG $70,000 $5,000 <br />FHLB $84,000 $6,000 <br />County Bond $140,000 $10,000 <br />Trust Fund $20,000 $1,429 <br />Total Subsidy $457,770 $32,698 <br />Bank Financing $1,221,610 <br />Total Sources $1,679,380 <br />Uses of Funds Total Per unit <br />Land Costs $0 $0 <br />Infrastructure $250,000 $17,857 <br />Soft Costs $129,800 $9,271 <br />Construction Costs $1,021,080 $72,934 <br />Interest $66,500 $4,750 <br />Fees and Permits $84,000 $6,000 <br />Contingency $100,000 $7,143 <br />Development fee $28,000 $2,000 <br />Total Uses $1,679,380 $119,956 <br />Per unit cost $119,956 <br />Per unit subsidy $32,698 <br />First mortgage $86,258 <br />Mortgage payment $888 7.5% 30 yrs. <br />Income required $35,650 <br />Scarlett Drive Sources and Uses <br />