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Section 3. Project Details Application | Parrott Street Apartments <br />September 2017 <br /> 17 <br />F. Financing <br />The estimated total cost for the development is $33 million. The primary funding source for this project <br />is low income housing tax credits. Additional sources of financing Eden Housing will apply for include the <br />Alameda County A1 Bond program, HOME program, City affordable housing funds, Affordable Housing <br />and Sustainable Communities program, Federal Home Loan Bank Affordable Housing Program, and <br />Veterans Housing and Homelessness Prevention program. Many of the financing sources listed above are <br />made available through the state and local governments, which are prioritizing transit‐oriented <br />developments due to the benefits that TOD projects have on the built environment, environmental <br />sustainability, and quality of life for their residents. As such, this project is inherently very competitive to <br />win funding from these various sources due to its location in a transit‐rich downtown area. <br /> <br />66