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PROJECTED BUDGET <br /> CARR COURT PROPOSAL 1/15/96 Unit Count: 6 <br /> Uses of Funds 6 Units <br /> Cost of Purchase 143,800 <br /> Site Improvements/Landscaping/Sign 0 <br /> Purchase/Development Loan Interest 0 <br /> Planning/Engineering/Surveying 3,000 <br /> SUBTOTAL LOT DEVELOPMENT 146,800 <br /> Cost of Renovations (6 units) 120,000 <br /> Cost of New Construction (4 units) 100,000 <br /> Other costs not included in builder price 0 <br /> Builder Profit/Overhead (15%) 33,000 <br /> Building Permits/Other Fees (will request waiver) 0 <br /> Construction Loan Interest 25,000 <br /> SUBTOTAL HOUSE CONSTRUCTION 278,000 <br /> Project Legal Expenses 6,000 <br /> Construction/Permanent Closing Costs 9,000 <br /> Taxes During Construction (will request waiver) 0 <br /> Sales/Marketing/Advertising Expenses 3,000 <br /> Real Estate Commissions 0 <br /> OCHC Administrative Fee/Contingency 14,000 <br /> Buyer Assumption Fees/Closing Costs 2,000 <br /> SUBTOTAL OTHER EXPENSES 34,000 <br /> TOTAL PROJECT COSTS 458,800 <br /> Average Per Unit Cost 76,467 <br /> Number Price Revenue P.S.F. <br /> 3-bedroom (1000 s.f.) 4 74,700 298,800 74.70 <br /> 3-bedroom (1200 s.f.) 2 80,000 160,000 66.67 <br /> Total 79,750 458,800 <br /> Sources of Permanent Financina 1000 s.f• 00 s. . Total <br /> Construction/Permanent Mortgages from CCB 47,367 52,667 294,800 <br /> Buyer Contribution/Downpayment 500 500 3,000 <br /> Second Mortgages from HOME Consortium 16,833 16,833 101,000 <br /> Funds Forgiven by HOME Consortium 10,000 10,000 60,000 <br /> Total per unit 74,700 80,000 458,800 <br />