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EXPENDITURES
<br /> HOPEWORKS STATION RESIDENTIAL - PROJECT BUDGET
<br /> Def Fee/
<br /> City of Snohomish State NHTF/ Residential
<br /> Everett County LIHTC HTF/UHEE Sponsor total
<br /> Loan/AHP
<br /> Acquisition Costs:
<br /> Land $480,537 $499,502
<br /> Existing Structures $0
<br /> Liens $0
<br /> Closing,Title&Recording Costs $0
<br /> Extension payment $0
<br /> Other: $0
<br /> SUBTOTAL $480,537 $0 $0 $0 $0 $499,502
<br /> Construction:
<br /> Demolition $0
<br /> New Building $20,000 $320,615 $7,602,894 $1,750,000 $1,192,320 $10,865,829
<br /> Rehabilitation $0
<br /> Contractor Profit $0
<br /> Contractor Overhead $0
<br /> New Construction Contingency $946,586 $946,586
<br /> Rehab Contingency $0
<br /> Accessory Building $0
<br /> Site Work/Infrastructure $0
<br /> Off site Infrastructure $0
<br /> Environmental Abatement-
<br /> Building $0
<br /> Environmental Abatement-Land $0
<br /> Sales Tax $1,053,985 $1,053,985
<br /> Bond Premium $0
<br /> Equipment and Furnishings $100,000 $100,000
<br /> Other: $0
<br /> SUBTOTAL $20,000 $320,615 $9,703,465 $1,750,000 $1,192,320 $12,966,400
<br /> Soft Costs:
<br /> Buyer's Appraisal $p
<br /> Market Study $4,500 $4,500
<br /> Architect $50,289 $1,009,027 $1,059,316
<br /> Engineering $0
<br /> Environmental Assessment $18,463 $18,463
<br /> Geotechnical Study $8,466 $8,466
<br /> Boundary&Topographic Survey $2,890 $13,421 $16,311
<br /> Legal-Real Estate $0
<br /> Developer Fee $122,263 $653,842 $776,105
<br /> Project Management/Dev. $655,644 $655,644
<br /> Consultant Fees
<br /> Other Consultants $59,171 $59,171
<br /> Soft Cost Contingency $89,810 $89,810
<br /> Other: $19,754 $19,754
<br /> SUBTOTAL $0 $53,179 $2,000,519 $0 $653,842 $2,707,540
<br /> Pre-Development/Bridge
<br /> Financing
<br /> Bridge Loan Fees $14,972 $14,972
<br /> Bridge Loan Interest $49,269 $49,269
<br /> SUBTOTAL $0 $0 $64,241 $0 $0 $64,241
<br /> Exhibit B
<br /> Housing Hope Properties
<br /> Page 2 of 4
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