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<br /> Addendum II
<br /> Capital Improvement Loan Agreement
<br /> This Addendum II amends the Capital Improvement Loan Agreement(the"Agreement") between the City of
<br /> San Leandro ("City") and Cornerstone Community Development Corporation ("Participant") dated July 1, 2008
<br /> to formalize an additional $50,000 in federal Community Development Block Grant (CDBG) funds that the
<br /> City allocated to Participant for the Participant's Rehabilitation Project at its "Sister Me Home" facility. The
<br /> additional CDBG funding was approved by the San Leandro City Council at its April 16, 2012 City Council
<br /> meeting when it approved the City's U.S. Department of Housing and Urban Development(HUD) FY 2012-
<br /> 2013 Annual Action Plan.
<br /> Participant modified its original $50,000 budget, referenced by Addendum I to the Capital Improvement
<br /> Loan Agreement between the City of San Leandro and Cornerstone Community Development Corporation,
<br /> dated August 27, 2010.
<br /> SISTER ME HOME SOURCES AND USES
<br /> TOTAL SOURCES
<br /> Development Budget PROJECT EHAPCD City San
<br /> COSTS Leandro
<br /> HARD T
<br /> R COSTS
<br /> Structures $ 319,039 $ 309,039 $ 10,000
<br /> General Requirements $ 7,950 $ 7,950 $ -
<br /> Contractor Overhead $ 29,144 $ 29,144 $ -
<br /> Contractor Profit $ 29,144 $ 29,144 $ -
<br /> Remediation $ 6,000 $ 6,000 $ -
<br /> Subtotal Hard Costs $ 391,277 $ 381,277 $ 10,000
<br /> SOFT COSTS
<br /> Architectural and Engineering $ 31,000 $ 11,000 $ 20,000
<br /> Bond Premium/Insurance $ 7,476 $ 7,476 $ -
<br /> Escrow and Title $ 10,000 $ 10,000 $ -
<br /> Legal $ 2,500 $ 2,500 $ -
<br /> Appraisal Costs $ 1,000 $ 1,000 $ -
<br /> Environmental Report/Surveys $ 3,000 $ - $ 3,000
<br /> Permits and Fees $ 6,000 $ - $ 6,000
<br /> Furnishings $ 5,000 $ 5,000 $ -
<br /> Consultant/ProcessingAgent $ 12,000 $ 1,000 $ 11,000
<br /> Project Administration $ 22,960 $ 22,960 $ -
<br /> Soft Cost Contingency(incl.competitive bidding expenses) $ 3,000 $ 3,000
<br /> Const.Management $ 14,000 $ 14,000 $ -
<br /> Subtotal Soft Costs $ 117,938 $ 77,936 $ 40,000
<br /> TOTAL PROJECT COST $ 509,213 $ 459,213 $ 50,000
<br /> II
<br /> ICI
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