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<br />Capital
<br />
<br />PROJECTED SCHEDULE OF CAPITAL INVESTMENT
<br />Hamline Commons
<br />
<br />Uses Cost % of Total CostlUnit CostlSq Ft (all in)
<br />Land $ 1,900,000 6.03% $ 15,322 $ 5.73
<br />Architect Fees $ 628,800 2.00% $ 5,071 $ 1.90
<br />Building Construction $ 20,960,000 66.55% $ 169,031 $ 63.17
<br />Development Contingency $ 838,400 2.66% $ 6,761 $ 2.53
<br />Finance Fee $ 900,000 2.86% $ 7,258 $ 2.71
<br />Marketing Cost $ 440,000 1.40% $ 3,548 $ 1.33
<br />City Costs $ 400,000 1.27% $ 3,226 $ 1.21
<br />Net Cap. Interest after earnings $ 1,300,000 4.13% $ 10,484 $ 3.92
<br />FFE Schedule $ 500,000 1.59% $ 4,032 $ 1.51
<br />Survey, Fees & Organizational $ 25,000 0.08% $ 202 $ 0.08
<br />M&E Engineering $ 3,500 0.01% $ 28 $ 0.01
<br />Land Control $ 0.00% $ $
<br />Pre-Open Salary & Fees $ 5,000 0.02% $ 40 $ 0.02
<br />Property Tax During Construction $ 30,000 0.10% $ 242 $ 0.09
<br />Site Costs $ 180,000 0.57% $ 1,452 $ 0.54
<br />unused $ 0.00% $ $
<br />Subtotal $ 28,110,700 89.26% $ 226,697 $ 84.72
<br />Development Fee $ 983,875 3.12% $ 7,934 $ 2.97
<br />Funded Interest $ 400,000 1.27% $ 3,226 $ 1.21
<br />Operating Reserve $ 0.00% $ $
<br />Debt Service Reserve Fund $ 2,000,000 6.35% $ 16,129 $ 6.03
<br />Subtotal $ 3,383,875 10.74% $ 27,289 $ 10.20
<br />
<br />Total Uses $ 31,494,575 $ 253,986 $ 94.92
<br />
<br />Sources
<br />
<br />Loan Proceeds
<br />Equity (cash)
<br />Resident Equity
<br />Unused
<br />
<br />$
<br />$
<br />$
<br />$
<br />
<br />25,694,575
<br />4,000,000
<br />1,800,000
<br />
<br />81.5 8%
<br />12.70%
<br />5.72%
<br />0.00%
<br />
<br />Total Sources $ 31,494,575 100%
<br />
<br />Page 8
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