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5.1. HRSR 12-06-2004
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5.1. HRSR 12-06-2004
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City Government
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HRSR
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12/6/2004
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SOURCES AND USES AND PROFIT STATEMENT' <br /> Bluff Block Commercial and Condos <br /> Cost Summary Amount Percent =, <br /> Land Acquisition 1,912,750 11.90% <br /> Site Work-Environmental, and Improvements $ 200.000 1.24% • <br /> Total Acquisition $ 2,112,750 13.14% <br /> Rehabilitation/New Construction 8,592,638 53.45% <br /> King street Parking 350,000 2.18% <br /> Commercial Construction and Tenant Improvers 1,691,630 10.52% <br /> Contingency 426,159 2.65% <br /> SAG,; :0 0.00% <br /> WAC 0.00% <br /> City Fees-Park Ded, 152,615 0.95% <br /> Total Construction costs $ 11,213,041 69.74% <br /> Architectural and Engineering 355,000 2.21% <br /> Total Architectural/Engineering $ 355,000 2.21% <br /> Sale Fees and Marketing 853,758 5.31% <br /> Total marketing $ 853,758 5.31% <br /> Interim Costs 836,888 5.21% <br /> Financing Fees and Expenses 71,800 0.45% <br /> Total Carrying Costs $ 908,688 5.65% <br /> Environmental Consultants $ - 0.00% <br /> Total Special Consultants $ - 0.00% <br /> Related Costs 109,000 0.68% <br /> Total Financing Costs $ 109,000 0.68% <br /> Condo Documents-Attorney and Survey 119,000 0.74% Ali <br /> Total Title and Recording $ 119,000 0.74% <br /> Developer's Overhead ' 406,000` 2.53% <br /> Total Other Soft Costs $ 406,000 2.53% <br /> Total Project Cost $ 16,077,237 100.00% <br /> 'Income Summary Total <br /> Total Sale Price of Units 12,444,000 <br /> Commercial Sale 1,785,300 <br /> TI F 1,596,922 <br /> Excess TIF from Jackson 485;78 ; <br /> Equity Gap 815,143 <br /> Total Proceeds $ 17,127,152 <br /> Project Cost $ 16,077,237 <br /> Allowable Profit $ 1,049,915 <br /> Percent of Cost LIMIT I O% '• 6.53% <br /> • <br /> Page 1 of 4 Metro Plains Development Agreement Proformas <br />
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