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Attachment IV <br /> 11 <br /> ORANGE-PERSON-CHATHAM MENTAL HEALTH, PHN# (919) 918-1111 <br /> DEVELOPMENTAL DISABILITIES, SUBSTANCE ABUSE AUTHORITY • FAX# (919) 918-1112 <br /> Thomas J. Maynard, Area Director <br /> SILER CITY OXFORD HOUSE PROPOSAL <br /> DEVELOPMENT BUDGET <br /> 9/5/95 <br /> BUILDING ACQUISITION $65,000 <br /> REHAB $21,300 <br /> CONTRACTOR OVERHEAD AND PROFIT $ 2,000 <br /> TOTAL BUILDING COST $88,300 <br /> CLOSING COSTS $ 3,000 <br /> FURNISHINGS $ 5,000 (donated) <br /> RENT RESERVES $ 1,350 <br /> OPERATING RESERVES $ 5,389 (5%) <br /> OPC OVERHEAD 5% $ 5.389 <br /> TOTAL DEVELOPMENT COSTS $108,535 <br /> The North Carolina Finance Housing Agency will fund only 85% of the total <br /> development costs, so 15% or $16,280 must be financed. This will be <br /> done with a commercial mortgage of @ 8 5/8 %. The residents of the <br /> house will pay the PITI on the mortgage each month with the rent that is <br /> collected. <br /> 101 East Weaver Street, Suite 300 Carrboro, North Carolina 27510 <br />