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2007-05-15_Agenda
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2007-05-15_Agenda
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Last modified
10/25/2011 8:10:16 AM
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3/17/2010 2:32:50 PM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
5/15/2007
Commission/Committee - Meeting Type
Regular
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Proforma Review of RHRA SHRP <br />960 Lovell <br />9-Jun Current ** <br />Total Cost:2006 <br />Purchase Price (costs)200,000 $ 200,000 $ <br />Rehab 12,500 $ 12,500 $ <br />Interest/Misc/closing fees 7,500 $ 8,500 $ <br />Taxes 900 $ 1,350 $ <br />Development Fee 6,000 $ 6,000 $ <br />Commission (GMHC)3,000 $ 3,000 $ <br />Commission (MLS)6,000 $ 6,210 $ <br />Total Cost:235,900 $ 237,560 $ <br />Sales Price 240,000 $ 230,000 $ <br />Affordable 1st Mortgage 175,000 $ 175,000 $ <br />Available for 2nd Mortgage 65,000 $ 55,000 $ <br />Total Costs 235,900 $ 237,560 $ <br />Affordable 1st Mortgage 175,000 $ 175,000 $ <br />Total Gap in Costs 60,900 $ 62,560 $ <br />Available 2nd Mortgage 65,000 $ 55,000 $ <br />Permant Loss (Profit)(4,100)$ 7,560 $ <br />GMHC 3rd Mortgage 2,500 $ <br />Points (requested by buyer)-$ <br />Final Permant Loss 5,060 $ <br />**Current includes costs to date plus additional interest, taxes
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