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7.2. HRSR 06-01-2020
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7.2. HRSR 06-01-2020
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5/29/2020 8:20:56 AM
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City Government
type
HRSR
date
6/1/2020
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USES AMOUNT NOTES <br />Land Acquisition $450,000 <br />Construction $12,760,000 <br />Contingency $510,400 <br />Professional Fees (Soft Costs) $1,216,775 <br />Developer Fee $1,000,000 <br />Syndication Fees $39,600 <br />Financing Fees $635,070 <br />Reserves $295,533 <br />TOTAL $16,908,377 <br /> <br />E. ADDITIONAL DOCUMENTATION AND CHECKLIST <br />Applicants will also be required to provide the following documentation. <br /> <br />__X__A) Written business plan, including a description of the business, ownership/management, date <br />established, products and services, and future plans <br /> <br /> __X__B) Financial Statements for Past Two Years <br />Profit & Loss Statement <br />Balance Sheet <br /> <br /> __X__C) Current Financial Statements <br /> Profit & Loss Statement to Date <br /> Balance Sheet to Date <br /> <br /> __X__D) Two Year Financial Projections <br /> <br /> __X__E) Personal Financial Statements of all Major Shareholders - Current Tax Return <br /> <br /> __X__F) Letter of Commitment from Applicant Pledging to Complete <br /> During the Proposed Project Timeline <br /> <br /> __X__G) Letter of Commitment from the Other Sources of Financing, <br /> Stating Terms and Conditions of their Participation in Project <br /> <br /> __X__H) Application deposit of $10,000, with any unused portion to be refunded <br /> <br /> __X__I) Construction Plans and Itemized Project Construction Statement <br /> <br /> __X__J) Attach the following documentation as Exhibits <br /> <br /> Exhibit A – Entity Documents <br /> Exhibit B – Description of Project <br /> Exhibit C – List of Shareholders/Partners <br /> Exhibit D – But-For Analysis <br /> Exhibit E – List of Prospective Lessees <br /> Exhibit F – Legal Description and PID Number(s)
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