1 / 9

Amanda Village

Amanda Village. Equity & Debt Proposal. Development Summary. 100 Unit New Construction Project in Dekalb County 36 units set aside for recovering addicts and units fully furnished 98% PBRA- 10 year commitment Service Provider- 3 year commitment for services per DCA guidelines

frieda
Download Presentation

Amanda Village

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Amanda Village Equity & Debt Proposal

  2. Development Summary • 100 Unit New Construction Project in Dekalb County • 36 units set aside for recovering addicts and units fully furnished • 98% PBRA- 10 year commitment • Service Provider- 3 year commitment for services per DCA guidelines • Brownfield Site • Non Profit GP/ Developer • Tax Credit allocation-750k

  3. Development Budget Acquisition of Property $ 925,000 3rd Party Cost $ 95,000 Professional Fees $ 463,000 Financing/Tax Credit Cost $ 425,598 Required Reserves $ 360,500 Construction Contract $9,625,000 Developer Fee $ 1,133,000 Total Development Budget $13,027,098

  4. Proposed Rents Unit Type Rent 2BR(Mkt) Manager 2BR(30%) $200 2BR(50%) $609- PBRA 2BR(60%) $609 3BR(30%) $278 3BR(50%) $729-PBRA 3BR(60%) $750

  5. Financial Projections • Income- $701,240 • Expenses- $458,271 • NOI- $242,969 • Debt Svc- $194,988 • Cash Flow- $47,981

  6. Proforma

  7. Construction Sources • Construction Loan- 3.5% $1,890,655 • Home Loan- 0.0% $1,200,000 • 3rd Loan- 0.0% $1,500,000 • Equity- $7,280,430 • Construction Sources $11,871,085

  8. Proposed Permanent Sources First Mortgage 5.75% $1,327,998 HOME Loan 3% $1,200,000 3rd Loan(soft) 3.4% $1,500,000 Federal Investor(.90) $6,749,325 State Investor(.30) $2,249,775 Total Sources $13,027,098

  9. Business Points Non profit Corporate Guarantee Limited Guarantees based on IRS Guidelines for non profit Adjusters treated as capital contributions/loans Right of First Refusal at end of compliance period Fee Payout 25/closing 25/completion 50/8609 Cash Flow 90% GP 10% LP

More Related