1996 NS Project Homestart Agreement

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SPECIAL NEEDS HOUSING DEMONSTRATION 09-Oct-96 FACTSHEET GENERAL INFORMATION Project Type: Acquisition/New Construction No.of units: 15 Project Name: Proj.Homestart/Orange Batt.Women's Site Size: 3 acres City. Chapel Hill Unit Type: Trans.Hsg.&Shelter County. Orange Median Incom $46,800 SPNHDP Request $150,000 Applicant: Inter-Faith Council Contractor: Keck Co.,Inc. Selection: Competitive Bid/Negotiation INCOME TARGETS UNITS %MEDIAN UNITS %MEDIAN 0 0-30% 0 0 15 31-50'% 0 0 01 0 0 0 15 Total PROJECT COSTS Total Per Unit Percent Per So.Ft. (10,950 sq.ft.) Construction $1,029,442 $68.629 84.4% $94.01 Improved Land $138,000 $9,200 11.3% $12.60 Building Acquisition $0 $0 0.0% $0.00 Soft Costs $52,500 $3,500 4.3% $4.79 Developer's Fee 50 $0 0.0% $0.00 Reserves/Escrows $0 $0 0.0%1 $0.00 Other $0 SO 0.0% $0.00 Total $1,219,942 581,329 100% $111.41 PERMANENT FINANCING SOURCES Amount Rate Term Percent First Mortgage $0 0.00 0 0.0% SPNHDP Deferred $150,000 0.00 20 13.9% SPNHDP Amortized $0 0.00 0 0.0% LIHTC SO 0.00 0 0.0% HUD SHP 5400,000 0.00 0 37.0% Fundraising $531,942 1 0.001 0 49.2% Local SO 0.001 0 0.0% Other I Sol 0.0ol 0 0.0% Total $1,081,942 100.0% PROJECT OPERATIONS Total Per Unit Total Annual Oper.Expenses $297.1301 519,809 Total Annual Expenses w/o taxes $297,130 519.809 Total Annual Svcs.Expenses SO $0 Annual Management Fee Sol SO UNIT SIZE.COST AND AFFORDABILITY Affordable No. No. Sq Monthly Rent per Total to BR's DU's Ft Rent Sq Ft Utilities Per Mo %Median 0 BR 15 300 S2501 50.83 SO 1 $250 30.5% 1 BR 0 0 SO 50.00 SO SO 0.0% 2 BR 0 0 SO 50.00 SO I SO 0.0% 3 BR 0 0 SO 50.00 SO $0 0.0% 3 BR 0 0 SO $0.00 $0 SO 0.0% 4 BR 1 0 01 SO S0.00 I SO so", Total 15