|
ESTIMATED BUDGET 09/27/93 3
<br /> SINGLE FAMILY SUBDIVISION: Hillsborough Unit Count: 42
<br /> Uses of Funds Current Estimate Current Per Unit
<br /> Raw Land Cost 72,000 1,714
<br /> Sales Commission on Land 0 0
<br /> Other Costs of Land Purchase 0 0
<br /> Site Improvements 269,685 6,421
<br /> Including: Site Grading and Earthwork 0 0
<br /> Erosion Control/Storm Drainage 22,750 542
<br /> Streets and Sidewalks (no sidewalks) 63,500 1,512
<br /> Water-On Site 51,000 1,214
<br /> Sanitary Sewer-On Site 69,800 1,662
<br /> Landscaping/Buffers/Entrance/Sign 12,500 298
<br /> Replace Dam 15,000 357
<br /> Contingency(15%) 35,135 837
<br /> Land Development Loan Interest 30,000 714
<br /> Subdivision/Special Use Permit Application Fees 5,000 119
<br /> DRC Construction Management 30,000 714
<br /> Water and Sewer Impact Fees/Off-site contribution 93,250 2,220
<br /> County School Impact Fees 31,500 750
<br /> Recreation Equip./Pmt-in-Lieu 7,500 179
<br /> Planning and Engineering Design Fees 35,700 850
<br /> SUBTOTAL LOT DEVELOPMENT 574,635 13,682
<br /> Average Builder Contract Price (incl. profit/OH) 2,100,000 50,000
<br /> Plus: Additional water lateral cost 42,000 1,000
<br /> Additional lot preparation/foundation 0 0
<br /> Additional unit landscaping cost 10,500 250
<br /> Other costs not included above 42,000 1,000
<br /> Building Permits and Other Fees 21,000 500
<br /> Construction Loan Interest 84,000 2,000
<br /> SUBTOTAL HOUSE CONSTRUCTION 2,299,500 54,750
<br /> Project Legal Expenses 16,800 400
<br /> Project Financing Fees and Closing Costs 16,800 400
<br /> Taxes During Construction 12,600 300
<br /> Inventory Maintenance 12,600 300
<br /> Model Operations (Rent, Utilities, Phone, Maint.) 21,000 500
<br /> Marketing/Construction Management(OCHC) 42,000 1,000
<br /> Sales/Marketing/Advertising Expenses 42,000 1,000
<br /> Sales Commissions or Referral Fees on Homes 33,600 800
<br /> Buyer Closing Costs 84,000 2,000
<br /> SUBTOTAL OTHER EXPENSES 281,400 6,700
<br /> Contingency/Developer Fee 210,000 5,000
<br /> TOTAL PROJECT COSTS 3,365,535 80,132
<br /> Current Per Unit Current Per Uni
<br /> Sources of Funds Current Estimate with HOME no HOME
<br /> First Mortgages SOURCE: Private 2,876,485 63,250 72,119
<br /> Buyer Contribution/Downpayment 42,000 1,000 1,000
<br /> Second Mortgages SOURCE: HOME(20 units only) 200,000 10,000 0
<br /> Third Mortgages SOURCE:CDBG 247,050 5,882 5,882
<br /> Units w/no HOME funds need additional downpymt 0 0 1,131
<br /> and higher first mortgages
<br /> TOTAL SOURCES OF FUNDS 3,365,535 80,132 80,132
<br />
|