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WASHINGTON AVENUE APARTMENTS
<br />USES OF FUNDS
<br />USES OF FUNDS
<br />Total
<br />Acq/Predev.
<br />Construction
<br />Permanent
<br />Acquisition and Related Costs
<br />4,229,200
<br />4,229,200
<br />-
<br />Land
<br />3,500,000
<br />3,500,000
<br />Acquisition Loan and Fees
<br />542,965
<br />542,965
<br />Other Costs
<br />186,235
<br />186,235
<br />Construction
<br />40,121,253
<br />-
<br />40,121,253
<br />Demolition
<br />205,200
<br />205,200
<br />Hard Costs
<br />33,101,303
<br />33,101,303
<br />General Conditions
<br />1,170,000
<br />1,170,000
<br />Overhead and Profit
<br />1,283,041
<br />1,283,041
<br />Insurance and Bond
<br />714,322
<br />714,322
<br />Owner's Construction Contingency
<br />3,647,387
<br />3,647,387
<br />Architecture and Engineering
<br />1,761,600
<br />1,232,980
<br />528,620
<br />Architect
<br />1,360,600
<br />932,230
<br />428,370
<br />Engineering
<br />401,000
<br />300,750
<br />100,250
<br />Permits and Fees
<br />2,460,521
<br />150,000
<br />2,310,521
<br />Local Development Impact Fees
<br />1,825,298
<br />-
<br />1,825,298
<br />Local Permits
<br />635,223
<br />150,000
<br />485,223
<br />Financing Costs
<br />3,530,720
<br />543,907
<br />2,986,813
<br />Construction Loan Interest
<br />2,278,109
<br />2,278,109
<br />Bond Costs of Issuance
<br />788,177
<br />79,473
<br />708,704
<br />Other Financing Fees
<br />464,434
<br />464,434
<br />-
<br />Other Soft Costs
<br />4,892,428
<br />87,448
<br />2,864,796
<br />1,940,184
<br />Insurance
<br />139,706
<br />139,706
<br />-
<br />Furnishings
<br />181,400
<br />181,400
<br />-
<br />Reserves
<br />805,664
<br />265,480
<br />540,184
<br />Legal Fees
<br />120,500
<br />50,000
<br />70,500
<br />-
<br />Construction Management
<br />118,000
<br />118,000
<br />-
<br />Developer Fee
<br />2,500,000
<br />1,100,000
<br />1,400,000
<br />Other Soft Costs
<br />1,027,158
<br />37,448
<br />989,710
<br />TOTAL USES OF FUNDS
<br />56,995,722 1
<br />6,243,535 1
<br />48,812,003 1
<br />1,940,184
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