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<br />CENTERVILLE, l\llNNESOT A - Sonrces & Uses
<br />
<br />Project I-B8
<br />
<br />
<br />Summary
<br />Sources & Uses
<br />
<br />Sales Proceeds (Senior Cooperative)
<br />
<br />$
<br />
<br />12,000.000 $
<br />
<br />$
<br />
<br />12,000,000
<br />
<br />Additional Gap FinanclDg Required (surplus required for I-B9)
<br />Tax Increment Financing - Note # 1
<br />Tax Increment Financing - Note #2
<br />Greater Minnesota Housing Funds (MHF A)
<br />Sales Proceeds (Office Condo & Townhome Lots)
<br />
<br />(393,003)
<br />
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<br />
<br />41,803
<br />136.800
<br />
<br />(351,200) .
<br />961,988
<br />
<br />1.550.000
<br />
<br />1,550,000
<br />
<br />Total Sources of Fonds
<br />
<br />$
<br />
<br />12,859,949 $
<br />
<br />1,728.603 S 14,160,788
<br />
<br />ITSE..q OF FUNDS
<br />Acquisitions Costs $ 1.074,220 Included in Housing $ 1,074,220
<br />Demolition I Site Preparation 50.000 Included in Housing 50,000
<br />Relocation Specialist 53.711 Included in Housing 53,711
<br />Construction Costs I Improvements 7,190.108 1.162.500 8,352,608
<br />Cash Accounts (Tax & Isurance Escrows. Marketing Costs, Etc...) 176.329 81.470 257,799
<br />Municipal Costs
<br />Sewer and Water Access Charge 163.171 12,800 175,971
<br />Park Dedication Fee 35.971 14.100 50,071
<br />Building Inspection Fees 23.251 7.100 30,351
<br />Public Improvements 1,248.460 246.000 1,494,460
<br />Professional Services 1.639.099 58.160 1,697,259
<br />Soft Cost Contingency 50.000 25.000 75,000
<br />Closing Costs 34.076 8.693 42,770
<br />Cost of Financing 478.555 75,279 553,835
<br />Developer Fee 642.997 37.500 680,497
<br />Total Uses of Fonds S 12,859,949 S 1,728,603 S 14,588,551
<br /> $ $
<br />FINANCING GAP $ (393,003) 41,803 $ (351,200)
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