HUD 50156 Development Proposal Calculator

Public/Private Partnerships for the Mixed-Finance Development of Public Housing Units

HUD 50156 Development Proposal Calculator.xlsx

Public/Private Partnerships for the Mixed-Finance Development of Public Housing Units

OMB: 2577-0275

⚠️ Notice: This form may be outdated. More recent filings and information on OMB 2577-0275 can be found here:

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Overview

TDC Instructions
1- Unit Mix
2 - Select City & State
3 - Exh F-1 Const
4 - Exh F-2 Perm
5 -TDC & HCC Limit calculations
6 - Developer Fee
7 - Contractor Fee
8 - ProForma Assumptions
9 - ProForma Rents
10 - 15 Yr. ProForma
11 - Draw Schedule

Sheet 1: TDC Instructions

Development Proposal Calculator

U.S. Department of Housing
and Urban Development

OMB Approval No 2577-0275 exp XXXX.

Office of Public and Indian Housing

Public reporting burden for this collection of information is estimated to average 2 hours per response, including the time for reviewing instructions, searching existing data sources , gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
This collection of information is required for developing a Mixed-Finance rental project pursuant to HUD regulations 24 CFR 905. The information will be used to provide HUD with sufficient information to enable a determination that the proposed housing project is demographically and financially feasible and that HUD statutory and regulatory requirements have been met.

FOR THOSE FAMILIAR WITH THE INSTRUCTIONS:
START ON THE NEXT TAB AND CONTINUE TO MOVE RIGHT THROUGH THE TABS

Instructions: TDC & HCC Limit Calculation Worksheets

Tips:

Enter information in cells with blue borders, text or numbers on screen.

All other cells are locked, and all calculations are automated.

Print these Instructions for easy reference, then begin at Step 1.

Step 1. Select City and State

Note: To navigate among the worksheets, click the individual worksheet tabs at the bottom of this window. If no worksheet tabs are visible, select "Options..." from the "Tools" menu. In the dialogue box, select the "View" tab. Under "Window options" put a check mark in the "Sheet tabs" box.

> Navigate to the worksheet titled "Select City & State".

> Make the appropriate selections from the menu lists provided there.

> Navigate to the worksheet titled "Unit Mix".

> Continue at Step 2.

Step 2. Enter the PHA Name, Development Name, and Phase Number or Description (on the "Unit Mix" worksheet)

Step 3. Enter the Number of Units of Each Type and Size (on the "Unit Mix" worksheet)

> Select the appropriate column(s) for the proposed units based on tenure type (Rental or Homeownership, PH or Non-PH), and the development method.

• Rent-to-Own units are to be counted initially as Rental Units.

• Possible development methods are Rehabilitation (of existing public housing only), New Construction, or Acquisition (with or without rehab).

> Enter the number of units proposed, by Structure Type, in the appropriate row based on the Number of Bedrooms.

• TDC limit applies to all units on the Annual Contributions Contract (ACC) with HUD, or developed with Public Housing Capital Assistance (PHCA).

• Public Housing Capital Assistance (PHCA) includes the following development sources (and borrowed funds to be repaid from these sources):

- HOPE VI grant funds;

- Public housing Capital Fund and Public Housing Development assistance provided under sections 9 and 5 of the 1937 Housing Act; and

- Public Housing Operating Fund assistance provided under section 9 of the 1937 Housing Act that is used for development.

• The TDC limit for Modernization of existing public housing is 90% of the published TDC limit for a given structure and unit type.

• The HCC limit is applicable only to New Construction units (not applicable to Rehabilitation of existing public housing, or to Acquisition units).

- The "TDC & HCC Limit calculations" worksheet reflects all such applicability as described above.

• Definitions of Structure Types specified on the Unit Mix worksheet:

- Detached: A structure that consists of a single living unit surrounded by permanent open space on all sides.

- Semi-detached: A structure containing two living units separated by a common vertical wall.

- Elevator: Any structure of four or more stories above ground in which an elevator is provided.

- Row House: A structure containing three or more living units separated only by vertical walls.

- Walk-up: A multi-level low-rise structure containing two or more living units, in which any units are separated by any common ceiling/floor.

Step 4. Enter Number of Tax Credit, Market-Rate Rental, and Market-Rate For-Sale Units (for reference only; not used in TDC calculation)

Step 5. Enter Number of Special-Needs Units, and Describe Accessibility Design Features (for reference only; not used in TDC calculation)

Step 6. Enter Demolition & Replacement Units (total, all project phases) (on "TDC & HCC Limit calculations" worksheet)

> Enter the number of public housing units to be demolished (or eliminated by conversion) for all phases of the project.

> Enter the total number of replacement units to be built back on the original public housing site(s) in all phases of the project.

• Include only on-site, new-construction replacement rental public housing units and, and ownership units developed with

Public Housing Capital Assistance (see Step 3, above for a definition of Public Housing Capital Assistance).

Step 7. Enter All Sources of Public Housing Capital Assistance

> Include: Public Housing Capital Assistance used for development, and borrowed funds secured by repayment with Public Housing Capital Assistance.

> Do not include: sources other than Public Housing Capital Assistance (e.g., HOME and CDBG), or any non-HUD funding sources.

Step 8. Enter All Uses of Public Housing Capital Assistance

• Use the budget line items provided. These track HUD Notice PIH 2003-8 and regulations at 24 CFR 941. For example:

- BLI 1440: Site Acquisition costs are all expenses of acquiring sites (only sites that do not include structures to be retained for housing).

- BLI 1450: Site Improvement includes streets and public improvements, and site improvements other than on-site utilities & finish landscaping.

• Dwelling Structure costs must be categorized as Rehabilitation, New Construction, or Acquisition:

- BLI 1460: "Dwelling Structures, Rehabilitation" includes only those "hard" (construction) costs of rehabilitating existing public housing units.

- BLI 1460: "Dwelling Structures, New Construction" includes only hard costs for the building, utilities from the street and finish landscaping.

- BLI 1460: "Dwelling Structures, Acquisition" includes all acquisition costs for existing housing units, including the site and associated rehab.

> Confirm that all Public Housing Capital Assistance sources are included.

> For multi-phase projects, a TDC limit analysis must be conducted for the entire project in conjunction with the TDC limit analysis for each phase.

> Confirm that sources of PHCA are equal to uses of PHCA.

Step 10. Enter any Extraordinary Site Cost (a component of Additional Project Costs -- not subject to TDC limit)

> Enter any Extraordinary Site Cost in the cell provided. This may be some or all of the funds entered in BLI 1450 (Step 8).

• Extraordinary Site Costs must be verified by an independent registered engineer, and must be approved by HUD in accordance with 24 CFR 941.103.

Step 11. Review TDC and HCC Limit Calculation Results

> Review the results of the TDC and HCC limit calculations, and print the worksheet.

• The TDC and HCC limit analysis results are shown on the lower right of the "TDC & HCC Limit calculations" worksheet.

• All worksheets are pre-formatted for printing. To print the current worksheet or all worksheets, select "Print…" from the "File" menu.

• Direct project questions to the Project Manager or Team Leader in the HUD Office of Public Housing Investments, (202) 401-8812 (not toll-free).

• Direct questions or comments on this Excel workbook to Brodie Hefner (212) 542-7624 (not a toll-free call).

Disclaimer: This workbook does not replace applicable statutes, regulations, notices or other HUD guidance. Use of this form is not required by HUD.

Page 1 of 12

form HUD-50156 (7/2015)

Sheet 2: 1- Unit Mix


Unit Mix and Accessibility Summary, Post-Revitalization
		Step 2: Enter the PHA Name, the Development Name, and Phase Number or Description

			Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
			Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
			Phase/Project Name:	[Enter the name of the phase/project]
			PIC Development Number:	[enter the new AMP-format development number]

		Step 3: Enter the Number of Units (by Structure Type and Unit Size, according to Unit Category and Development Method)
		Rental Unit Categories						Homeownership Unit Categories
		Public Housing (ACC, w/PHCA or Op-sub-only)			Non-Public Housing (not on ACC, no PHCA used)			Developed with Pub. Housing Capital Assistance			Developed without Pub. Housing Capital Assistance
		Rehab of Existing Public Housing	New Construction	Acquisition with or without Rehabilitation	Rehab of Existing Public Housing	New Construction	Acquisition with or without Rehabilitation	Rehab of Existing Public Housing	New Construction	Acquisition with or without Rehabilitation	Rehab of Existing Public Housing	New Construction	Acquisition with or without Rehabilitation
Detached	0	-	-	-	-	-	-	-	-	-	-	-	-
	1	-	-	-	-	-	-	-	-	-	-	-	-
	2	-	-	-	-	-	-	-	-	-	-	-	-
	3	-	-	-	-	-	-	-	-	-	-	-	-
	4	-	-	-	-	-	-	-	-	-	-	-	-
	5	-	-	-	-	-	-	-	-	-	-	-	-
	6	-	-	-	-	-	-	-	-	-	-	-	-
Semi- Detached	0	-	-	-	-	-	-	-	-	-	-	-	-
	1	-	-	-	-	-	-	-	-	-	-	-	-
	2	-	-	-	-	-	-	-	-	-	-	-	-
	3	-	-	-	-	-	-	-	-	-	-	-	-
	4	-	-	-	-	-	-	-	-	-	-	-	-
	5	-	-	-	-	-	-	-	-	-	-	-	-
	6	-	-	-	-	-	-	-	-	-	-	-	-
Row House	0	-	-	-	-	-	-	-	-	-	-	-	-
	1	-	-	-	-	-	-		-	-	-	-	-
	2	-	-	-	-	-	-	-	-	-	-	-	-
	3	-	-	-	-	-	-	-	-	-	-	-	-
	4	-	-	-	-	-	-	-	-	-	-	-	-
	5	-	-	-	-	-	-	-	-	-	-	-	-
	6	-	-	-	-	-	-	-	-	-	-	-	-
Walk-Up	0	-	-	-	-	-	-	-	-	-	-	-	-
	1	-	-	-	-	-	-	-	-	-	-	-	-
	2	-	-	-	-	-	-	-	-	-	-	-	-
	3	-	-	-	-	-	-	-	-	-	-	-	-
	4	-	-	-	-	-	-	-	-	-	-	-	-
	5	-	-	-	-	-	-	-	-	-	-	-	-
	6	-	-	-	-	-	-	-	-	-	-	-	-
Elevator	0	-	-	-	-	-	-	-	-	-	-	-	-
	1	-	-	-	-	-	-	-	-	-	-	-	-
	2	-	-	-	-	-	-	-	-	-	-	-	-
	3	-	-	-	-	-	-	-	-	-	-	-	-
	4	-	-	-	-	-	-	-	-	-	-	-	-
	5	-	-	-	-	-	-	-	-	-	-	-	-
	6	-	-	-	-	-	-	-	-	-	-	-	-
	Totals:	-	-	-	-	-	-	-	-	-	-	-	-

Step 4: Enter Number of Tax Credit, Market-Rate Rental, and Market-Rate For-Sale Units
Unit Summary
			Total Tax Credit Units:	-			Market (unrestricted) Rental:	-			Market (unrestricted) HO:	-

			Rehab (of existing PH) Units:	-
			New Construction Units:	-		Rental:	-					PH Rental, + HO w/PHCA (subject to TDC limit):	-
			Acquisition Units:	-		Homeownership:	-					Non-PH Rental, + HO w/o PHCA (no TDC limit):	-
			Total Units:	-		Total Units:	-					Total Units:	-

Step 5: Enter number of Special-Needs Units and describe Accessibility Design Features
		Planned Accessibility: Units for Mobility-Impaired and Hearing/Sight-Impaired
		Rental Unit Categories						Homeownership Unit Categories
	Minimum Required units project-wide	Public Housing (on ACC, including Op-sub-only)			Non-Public Housing (not on ACC, no PHCA)			Developed with Pub. Housing Capital Assistance			Developed without Pub. Housing Capital Assistance
	Minimum Required units project-wide	Rehab of Existing Pub Hsg	New Const	Acq with or w/o Rehab	Rehab of Existing Pub Hsg	New Const	Acq with or w/o Rehab	Rehab of Existing Pub Hsg	New Const	Acq with or w/o Rehab	Rehab of Existing Pub Hsg	New Const	Acq with or w/o Rehab
Units for Mobility-Impaired	0
Units, Hearing-or Sight-Impaired	0
Visitability Features:
Note: Minimum required units are estimates. Consult with HUD and applicable program regulations for actual requirements regarding accessible units.

						Page 2 of 12								form HUD-50156 (7/2015)

Sheet 3: 2 - Select City & State


Step 1. Using the Drop-down Lists Provided, Select the City (or Region) and State
in which the Project is Located
> After selecting City and State, navigate to the "Unit Mix" worksheet by selecting its tab at the bottom of this window and continue at Step 2.					This workbook uses the TDC and HCC
					limits published in HUD Notice:	PIH 2011- 38(HA)
				with current amounts as published by HUD
City	- all -				The Notice was published on:	7/20/2011
StateName	- all -		This workbook has been updated to include 2015 TDC and HCC limits

Type	Data		Note 2: When you select a valid City/State combination, this table will show the TDC and HCC limits from the above-referenced HUD Notice. Use the TDC and HCC limits in effect at the time of project closing.
Detached/Semi-Detached	Sum of 0 Bedrooms, TDC	58,960,455.00
	Sum of 1 Bedrooms, TDC	77,693,491.00
	Sum of 2 Bedrooms, TDC	93,108,974.00
	Sum of 3 Bedrooms, TDC	112,145,903.00
	Sum of 4 Bedrooms, TDC	132,242,388.00
	Sum of 5 Bedrooms, TDC	144,570,915.00	Note 3: If the desired City/State combination is not included in the list here, contact the local HUD Field Office. They will assist in determining the most appropriate City/State combination.
	Sum of 6 Bedrooms, TDC	155,579,191.00
	Sum of 0 Bedrooms, HCC	33,691,680.00
	Sum of 1 Bedrooms, HCC	44,396,280.00
	Sum of 2 Bedrooms, HCC	53,205,134.00
	Sum of 3 Bedrooms, HCC	64,083,371.00
	Sum of 4 Bedrooms, HCC	75,567,080.00	Note 4: Total Development Cost limits and Housing Construction Cost limits from this table will be transferred automatically to the "TDC & HCC Limit calculations" worksheet.
	Sum of 5 Bedrooms, HCC	82,611,946.00
	Sum of 6 Bedrooms, HCC	88,902,396.00
Elevator	Sum of 0 Bedrooms, TDC	48,463,398.00
	Sum of 1 Bedrooms, TDC	67,848,774.00
	Sum of 2 Bedrooms, TDC	87,234,125.00
	Sum of 3 Bedrooms, TDC	116,312,160.00	(There is no need to print this worksheet)
	Sum of 4 Bedrooms, TDC	145,390,202.00
	Sum of 5 Bedrooms, TDC	164,775,583.00
	Sum of 6 Bedrooms, TDC	184,160,931.00
	Sum of 0 Bedrooms, HCC	30,289,624.00
	Sum of 1 Bedrooms, HCC	42,405,468.00
	Sum of 2 Bedrooms, HCC	54,521,313.00
	Sum of 3 Bedrooms, HCC	72,695,093.00
	Sum of 4 Bedrooms, HCC	90,868,872.00
	Sum of 5 Bedrooms, HCC	102,984,726.00
	Sum of 6 Bedrooms, HCC	115,100,573.00
Row House	Sum of 0 Bedrooms, TDC	56,002,584.00
	Sum of 1 Bedrooms, TDC	73,991,335.00
	Sum of 2 Bedrooms, TDC	88,916,468.00
	Sum of 3 Bedrooms, TDC	107,688,100.00
	Sum of 4 Bedrooms, TDC	128,193,772.00
	Sum of 5 Bedrooms, TDC	141,394,971.00
	Sum of 6 Bedrooms, TDC	153,791,254.00
	Sum of 0 Bedrooms, HCC	32,001,479.00
	Sum of 1 Bedrooms, HCC	42,280,771.00
	Sum of 2 Bedrooms, HCC	50,809,405.00
	Sum of 3 Bedrooms, HCC	61,536,059.00
	Sum of 4 Bedrooms, HCC	73,253,603.00
	Sum of 5 Bedrooms, HCC	80,797,116.00
	Sum of 6 Bedrooms, HCC	87,880,719.00
Walkup	Sum of 0 Bedrooms, TDC	45,709,717.00
	Sum of 1 Bedrooms, TDC	63,113,417.00
	Sum of 2 Bedrooms, TDC	80,011,016.00
	Sum of 3 Bedrooms, TDC	104,415,930.00
	Sum of 4 Bedrooms, TDC	130,149,176.00
	Sum of 5 Bedrooms, TDC	146,475,689.00
	Sum of 6 Bedrooms, TDC	162,563,514.00
	Sum of 0 Bedrooms, HCC	26,119,834.00
	Sum of 1 Bedrooms, HCC	36,064,815.00
	Sum of 2 Bedrooms, HCC	45,720,581.00
	Sum of 3 Bedrooms, HCC	59,666,256.00
	Sum of 4 Bedrooms, HCC	74,370,948.00
	Sum of 5 Bedrooms, HCC	83,700,375.00
	Sum of 6 Bedrooms, HCC	92,893,436.00

		Page 3 of 12					form HUD-50156 (7/2015)

Sheet 4: 3 - Exh F-1 Const


CONSTRUCTION PERIOD SOURCES AND USES
EXHIBIT F TO THE MIXED-FINANCE ACC AMENDMENT
SUMMARY BUDGET -- CURRENT PHASE ONLY (CONSTRUCTION PERIOD)
Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
Phase/Project Name:	[Enter the name of the phase/project]
PIC Development Number:	[enter the new AMP-format development number]

Unit Type:	Rental Public Housing	Rental non-PH	HO w/PH Assistance	HO w/o PH Assistance	Total Units this Phase
Number of Units (entered on Unit Mix worksheet):	-	-	-	-	-

Part A: Development Sources	Loan/Grant/Equity	PH Capital Assist.	Private Funds	Other Public Funds	Total
Public Housing Capital Assistance: Loan		$-	$-	$-	$-
Public Housing Capital Assistance: Grant		$-	$-	$-	$-
Low Income Housing Tax Credit Equity		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Construction Loan		$-	$-	$-	$-
Other: General Partner Capital		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Total Development Sources (Part A)		$-	$-	$-	$-

Part B: Additional Sources		PH Capital Assist.	Private Funds	Other Public Funds	Total
Public Housing Capital Assistance:		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Total Additional Sources (Part B)		$-	$-	$-	$-

Total Sources this Phase (Parts A and B)		$-	$-	$-	$-


Part A: Development Uses
Development Construction Costs	HUD Bdgt Line Item	PH Capital Assist.	Private Funds	Other Public Funds	Total
Residential Construction	1460	$-	$-	$-	$-
Residential Rehabilitation	1460	$-	$-	$-	$-
Other Residential Construction: Insert Label	1460	$-	$-	$-	$-
Builder's General Requirements	1460	$-	$-	$-	$-
Builder's Overhead]	1460	$-	$-	$-	$-
Builder's Profit	1460	$-	$-	$-	$-
Other BLI 1460: Insert Label	1460	$-	$-	$-	$-
Other BLI 1460: Insert Label	1460	$-	$-	$-	$-
Site Improvement	1450	$-	$-	$-	$-
Extraordinary Site Costs	1450	$-	$-	$-	$-
Other Site Improvement: Insert Label	1450	$-	$-	$-	$-
Other Site Improvement: Insert Label	1450	$-	$-	$-	$-
Non-Residential Construction: Community Ctr.	1470	$-	$-	$-	$-
Other Non-Residential Const.: Insert Label:	1470	$-	$-	$-	$-
Other Non-Residential Const.: Insert Label:	1470	$-	$-	$-	$-
Subtotal: Development Construction Costs		$-	$-	$-	$-

Development Soft Costs	HUD Bdgt Line Item	PH Capital Assist.	Private Funds	Other Public Funds	Total
Acquisition of Site(s)	1440	$-	$-	$-	$-
Other Acquisition Cost: Insert Label	1440	$-	$-	$-	$-
Other Acquisition Cost: Insert Label	1440	$-	$-	$-	$-
Accounting and Cost Certification	1430	$-	$-	$-	$-
Appraisal Expense	1430	$-	$-	$-	$-
Architect & Engineer Fees	1430	$-	$-	$-	$-
Environmental Assessment, Testing & Cleanup	1430	$-	$-	$-	$-
Financing & Application Expense, Lender	1430	$-	$-	$-	$-
Financing & Application Expense, Tax Credit	1430	$-	$-	$-	$-
Insurance, Construction Period	1430	$-	$-	$-	$-
Interest, Construction & Bridge Loan(s)	1430	$-	$-	$-	$-
Legal Expense, Developer & Lender(s)	1430	$-	$-	$-	$-
Marketing & Lease-up Expense	1430	$-	$-	$-	$-
Permits, Construction & Utility Hookup	1430	$-	$-	$-	$-
PILOT & Taxes, Construction Period	1430	$-	$-	$-	$-
Survey	1430	$-	$-	$-	$-
Title & Recording Fees	1430	$-	$-	$-	$-
Operating Deficit (Construction Period)	1430	$-	$-	$-	$-
Program Manager	1430	$-	$-	$-	$-
Other Fees & Costs: Furnishings and market study	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Developer Fee		$-	$-	$-	$-
Other Developer Fee:: Insert Label		$-	$-	$-	$-
Other Developer Fee:: Insert Label		$-	$-	$-	$-
Contingency	1430	$-	$-	$-	$-
Reserve Deposit, Operating		$-	$-	$-	$-
Operating subsidy reserve		$-	$-	$-	$-
Lease-up Reserve		$-	$-	$-	$-
Supportive service reserve		$-	$-	$-	$-
Other Reserves: Oper, Debt & Tax reserves		$-	$-	$-	$-
Other Reserves: ACC units reserve		$-	$-	$-	$-
Subtotal: Development Soft Costs		$-	$-	$-	$-

Total Uses for Development (Part A)		$-	$-	$-	$-

Part B: Additional Uses	HUD Bdgt Line Item	PH Capital Assist.	Private Funds	Other Public Funds	Total
Community & Supp. Services (HOPE VI only)	1408	$-	$-	$-	$-
Management Improvements, PHA	1408	$-	$-	$-	$-
Administration	1410	$-	$-		$-
Outside Legal Cost: PHA/Grantee	1430	$-	$-	$-	$-
Fees & Costs	1430	$-	$-	$-	$-
Site Acquisition	1440	$-	$-	$-	$-
Site Improvement	1450	$-	$-	$-	$-
Non-Dwelling Structures	1470	$-	$-	$-	$-
Non-Dwelling Equipment	1475	$-	$-	$-	$-
Demolition (and associated remediation)	1485	$-	$-	$-	$-
Relocation Expense	1495	$-	$-	$-	$-
Total Additional Uses (Part B)		$-	$-	$-	$-

Total Uses this Phase (Parts A and B)		$-	$-	$-	$-

		Page 4 of 12				form HUD-50156 (7/2015)


	Check--Do Sources Equals Uses?
	Sources minus Uses, Part A	$-	$-	$-	$-
	Sources minus Uses, Part B	$-	$-	$-	$-
	Sources minus Uses, Phase Total	$-	$-	$-	$-

Sheet 5: 4 - Exh F-2 Perm


PERMANENT SOURCES AND USES
EXHIBIT F TO THE MIXED-FINANCE ACC AMENDMENT
SUMMARY BUDGET -- PHASE I ONLY (PERMANENT FINANCING)

Grantee or Applicant HA:	[Enter the PHA/Grantee name]
Development Name and Phase:	[enter the HOPE VI or Choice Neighborhoods grant name]: [Enter the name of the phase/project]
PIC Development Number:	[enter the new AMP-format development number]

Unit Type:	Rental Public Housing	Rental non-PH	HO w/PH Assistance	HO w/o PH Assistance	Total Units this Phase
Number of Units (entered on Unit Mix worksheet):	-	-	-	-	-

Part A: Development Sources	Loan/Grant/Equity	PH Capital Assist.	Private Funds	Other Public Funds	Total
Public Housing Capital Assistance: Loan	Loan	$-	$-	$-	$-
Public Housing Capital Assistance: Grant	Grant	$-	$-	$-	$-
Low Income Housing Tax Credit Equity	Equity	$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: GP Contribution		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Total Development Sources (Part A)		$-	$-	$-	$-

Part B: Additional Sources		PH Capital Assist.	Private Funds	Other Public Funds	Total
Public Housing Capital Assistance:		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Other: Insert Label		$-	$-	$-	$-
Total Additional Sources (Part B)		$-	$-	$-	$-

Total Sources this Phase (Parts A and B)		$-	$-	$-	$-


Part A: Development Uses
Development Construction Costs	HUD Bdgt Line Item	PH Capital Assist.	Private Funds	Other Public Funds	Total
Residential Construction	1460	$-	$-	$-	$-
Residential Rehabilitation	1460	$-	$-	$-	$-
Other Residential Construction: Insert Label	1460	$-	$-	$-	$-
Builder's General Requirements	1460	$-	$-	$-	$-
Builder's Overhead]	1460	$-	$-	$-	$-		1460 Total
Builder's Profit	1460	$-	$-	$-	$-		$-
Other BLI 1460: Insert Label	1460	$-	$-	$-	$-
Other BLI 1460: Insert Label	1460	$-	$-	$-	$-
Site Improvement	1450	$-	$-	$-	$-		1450 Total With Extraordinary Costs
Extraordinary Site Costs	1450	$-	$-	$-	$-		$-
Other Site Improvement: Insert Label	1450	$-	$-	$-	$-		1450 Total Without Extraordinary Costs
Other Site Improvement: Insert Label	1450	$-	$-	$-	$-		$-
Non-Residential Construction: Community Ctr.	1470	$-	$-	$-	$-		1470 Total
Other Non-Residential Const.: Insert Label:	1470	$-	$-	$-	$-		$-
Other Non-Residential Const.: Insert Label:	1470	$-	$-	$-	$-
Subtotal: Development Construction Costs		$-	$-	$-	$-

Development Soft Costs	HUD Bdgt Line Item	PH Capital Assist.	Private Funds	Other Public Funds	Total
Acquisition of Site(s)	1440	$-	$-	$-	$-		1440 Total
Other Acquisition Cost: Insert Label	1440	$-	$-	$-	$-		$-
Other Acquisition Cost: Insert Label	1440	$-	$-	$-	$-
Accounting and Cost Certification	1430	$-	$-	$-	$-		1430 Total+Dev Fee+Reserves
Appraisal Expense	1430	$-	$-	$-	$-		$-
Architect & Engineer Fees	1430	$-	$-	$-	$-		1430 Without Dev Fee and Reserves
Environmental Assessment, Testing & Cleanup	1430	$-	$-	$-	$-		$-
Financing & Application Expense, Lender	1430	$-	$-	$-	$-
Financing & Application Expense, Tax Credit	1430	$-	$-	$-	$-
Insurance, Construction Period	1430	$-	$-	$-	$-		GC's G&A (Incl Bond Premiums
Interest, Construction & Bridge Loan(s)	1430	$-	$-	$-	$-
Legal Expense, Developer & Lender(s)	1430	$-	$-	$-	$-
Marketing & Lease-up Expense	1430	$-	$-	$-	$-
Permits, Construction & Utility Hookup	1430	$-	$-	$-	$-
PILOT & Taxes, Construction Period	1430	$-	$-	$-	$-
Survey	1430	$-	$-	$-	$-
Title & Recording Fees	1430	$-	$-	$-	$-
Operating Deficit (Construction Period)	1430	$-	$-	$-	$-
Program Manager	1430	$-	$-	$-	$-
Other Fees & Costs: Furnishings & market study	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Other Fees & Costs: Insert Label	1430	$-	$-	$-	$-
Developer Fee		$-	$-	$-	$-		Total Developer Fee
Other Developer Fee:: Insert Label		$-	$-	$-	$-		$-
Other Developer Fee:: Insert Label		$-	$-	$-	$-
Contingency	1430	$-	$-	$-	$-		Total Reserves
Reserve Deposit, Operating		$-	$-	$-	$-		$-
Operating subsidy reserve		$-	$-	$-	$-
Lease-up Reserve		$-	$-	$-	$-
Supportive service reserve		$-	$-	$-	$-
Other Reserves: Oper, Debt & Tax reserves		$-	$-	$-	$-
Other Reserves: ACC units reserve		$-	$-	$-	$-
Subtotal: Development Soft Costs		$-	$-	$-	$-

Total Uses for Development (Part A)		$-	$-	$-	$-

Part B: Additional Uses	HUD Bdgt Line Item	PH Capital Assist.	Private Funds	Other Public Funds	Total
Community & Supp. Services (HOPE VI only)	1408	$-	$-	$-	$-
Management Improvements, PHA	1408	$-	$-	$-	$-
Administration	1410	$-	$-	$-	$-
Outside Legal Cost: PHA/Grantee	1430	$-	$-	$-	$-
Fees & Costs	1430	$-	$-	$-	$-
Site Acquisition	1440	$-	$-	$-	$-
Site Improvement	1450	$-	$-	$-	$-
Non-Dwelling Structures	1470	$-	$-	$-	$-
Non-Dwelling Equipment	1475	$-	$-	$-	$-
Demolition (and associated remediation)	1485	$-	$-	$-	$-
Relocation Expense	1495	$-	$-	$-	$-
Total Additional Uses (Part B)		$-	$-	$-	$-

Total Uses this Phase (Parts A and B)		$-	$-	$-	$-

		Page 5 of 12				form HUD-50156 (7/2015)
	Check--Do Sources Equals Uses?
	Sources minus Uses, Part A	$-	$-	$-	$-
	Sources minus Uses, Part B	$-	$-	$-	$-
	Sources minus Uses, Phase Total	$-	$-	$-	$-

Sheet 6: 5 -TDC & HCC Limit calculations


Total Development Cost (TDC) Limit and Housing Construction Cost (HCC) Limit Calculations

DEVELOPMENT NAME AND PHASE: [Enter the name of the phase/project]

using TDC and HCC limits published in HUD Notice PIH 2011- 38(HA) with current year amounts as published by HUD at tbe
Capital Fund Program website				for (All), (All)

Step 3. Unit Mix (Note: enter info on the "Unit Mix" worksheet)					HCC Limits		TDC Limits
Structure Type	BRs	Rehab of Existing Pub. Hsg.	New Const.	Acq. with or w/o Rehab	(new const. only) Per Unit	(new const. only) Phase Totals	Per Unit	Phase Totals
1	-	-	-	$44,396,280	$-	$77,693,491	$-
2	-	-	-	$53,205,134	$-	$93,108,974	$-
3	-	-	-	$64,083,371	$-	$112,145,903	$-
4	-	-	-	$75,567,080	$-	$132,242,388	$-
5	-	-	-	$82,611,946	$-	$144,570,915	$-
6	-	-	-	$88,902,396	$-	$155,579,191	$-
1	-	-	-	$42,280,771	$-	$73,991,335	$-
2	-	-	-	$50,809,405	$-	$88,916,468	$-
3	-	-	-	$61,536,059	$-	$107,688,100	$-
4	-	-	-	$73,253,603	$-	$128,193,772	$-
5	-	-	-	$80,797,116	$-	$141,394,971	$-
6	-	-	-	$87,880,719	$-	$153,791,254	$-
Walkup	0	-	-	-	$26,119,834	$-	$45,709,717	$-
	1	-	-	-	$36,064,815	$-	$63,113,417	$-
	2	-	-	-	$45,720,581	$-	$80,011,016	$-
	3	-	-	-	$59,666,256	$-	$104,415,930	$-
	4	-	-	-	$74,370,948	$-	$130,149,176	$-
	5	-	-	-	$83,700,375	$-	$146,475,689	$-
	6	-	-	-	$92,893,436	$-	$162,563,514	$-
Elevator	0	-	-	-	$30,289,624	$-	$48,463,398	$-
	1	-	-	-	$42,405,468	$-	$67,848,774	$-
	2	-	-	-	$54,521,313	$-	$87,234,125	$-
	3	-	-	-	$72,695,093	$-	$116,312,160	$-
	4	-	-	-	$90,868,872	$-	$145,390,202	$-
	5	-	-	-	$102,984,726	$-	$164,775,583	$-
	6	-	-	-	$115,100,573	$-	$184,160,931	$-
		-	-	-		$-		$-

Step 6. Enter Demo & Replacement Units (total, all phases)								(This portion of demolition cost is excluded from TDC limit)
Number of public housing units to be demolished or lost to conversion (total, all phases)					$-
(Minus) the number of replacement PH units to be built back on the original site (total, all phases)				(	$-	)
Equals PH units demolished and not replaced on the original PH site (total, all phases)					-	% of units:	0%


Step 7. Enter all Sources of Public Housing Capital Assistance
PH Capital Assistance incl. CFP, HOPE VI Revitalization, HOPE VI Demo-only Funds					$-
Borrowed Funds to be Repaid with Public Housing Capital Assistance					$-
Total Sources of Public Housing Capital Assistance						$-
				HUD Bdgt
Step 8. Enter All Uses of Public Housing Capital Assistance				Line Item
Community and Supportive Services ("CSS" -- for HOPE VI projects only)				1408	$-					PH Unit-to-PH Funds Ratio Note: in order to calculate the PH Unit-to-PH Funds ratio here, you must enter all sources of funds on the worksheet titled "Exh F Perm"
Management Improvements, PHA				1408	$-
Administration, PHA				1410	$-
Fees and Costs (planning, prog mgmt, insurance, initial oper deficit, etc.)				1430	$-
Site Acquisition (cost of sites w/o structures to be retained as housing)				1440	$-
Site Improvement (streets, site improvements and public improvements)				1450	$-
Dwelling Structures, Rehab (cost to rehab existing PH units only)				1460	$-
Dwelling Structures, New Const (w/OH+P, finish landscape + on-site util's)				1460	$-
Dwelling Structures, Acquisition (acq. of existing units, + rehab cost)				1460	$-					PH Funds as % of Total Funds:	PH Units as % of Total Units:
Dwelling Equip, New Const (for new construction units only)				1465	$-		Step 9. Confirm:
Dwelling Equip, Rehab or Acq. Units (for existing PH and Acq. units)				1465	$-
Nondwelling Structures (community facilities, social service space, etc.)				1470	$-					No Sources	No Units
Nondwelling Equipment (e.g., vehicles)				1475	$-		Sources	= Uses		NA
Demolition (enter total of all demo & environmental remediation costs)				1485	$-		Total Sources (Step 7) must
Relocation (moving expenses, & PHA cost of full-time relo staff)				1495	$-		equal Total Uses (Step 8)
Total Uses of Public Housing Capital Assistance						$-	----> Difference:	$0
							Okay: Sources = Uses
Excluded Demolition and Abatement Cost Calculation							Okay: Sources = Uses
Total Cost of Public Housing Unit Demo & Associated Env. Abatement (BLI 1485)					$-		(± $5 rounding allowance)			For reference, TDC is over (under) the limit by:
Times % of Demo Costs Excluded as "Additional Project Costs" (% from Step 6)				x	0%		(± $5 rounding allowance)			NA
Equals Amount of Demo Costs Excluded from TDC Limit as "Additional Project Costs"					$-
										For reference, HCC is over (under) the limit by:
Step 10. Enter Extraordinary Site Cost (must be approved by HUD)					$-		Step 11. Review Results			NA
							TDC Limit Analysis:
Community & Supportive Services ("CSS" -- for HOPE VI projects only)					-		Total Development Cost
(Minus) Total of "Extraordianry Site Costs" and CSS (excluded from TDC limit)						-	(PH Capital Assistance only)
Total Uses of Public Housing Capital Assistance (amount subject to TDC Limit)						$-	as Percentage of TDC Limit			Are both TDC and HCC less than or equal to 100% ?
							No PH units (Step 3)			Are both TDC and HCC less than or equal to 100% ?
Total Development Cost Limit (from Step 3 above)							No PH units (Step 3)			If so, the project budget is within the TDC and HCC limits established by HUD.


Public Housing Capital Assistance for Housing Construction Costs							HCC Limit Analysis:
Dwelling Structures, New Const (w/OH+P, finish landscape + on-site util's)				1460		$-	Housing Construction Cost			. . . or, is either TDC or HCC greater than 100% ?
Dwelling Equipment, New Const (if not already included in 1460)				1465		-	(PH Capital Assistance only)			. . . or, is either TDC or HCC greater than 100% ?
Total Housing Construction Cost						$-	as Percentage of HCC Limit			In this case, project budget violates the TDC and/or HCC limit(s) established by HUD.
							No PH units (Step 3)
Housing Construction Cost Limit (if any, from Step 3 above)							No PH units (Step 3)

				Page 6 of 12					form HUD-50156 (7/2015)

Sheet 7: 6 - Developer Fee

		DEVELOPER FEE LIMIT

			Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
			Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
			Phase/Project Name:	[Enter the name of the phase/project]
			PIC Development Number:	[enter the new AMP-format development number]



		Project Costs taken from Exhibit F-2, Permanent S&U Under the tab named "Exh F-2 Perm"
				Total project costs (Part A)			$-
				developer Fee			$-
				program mgt fee			$-
				reloc activities			$-
				Total reserves
				Reserve Deposit, Operating			$-
				Operating subsidy reserve			$-
				Lease-up Reserve			$-
				Supportive service reserve			$-
				Other Reserves: Insert Label			$-
				Other Reserves: Insert Label			$-
				PHA site improments and fees			$-
Check ("X") blue box if Developer is not performing activity				acquisition			$-
				demolition			$-
				HA admin			$-

						Basis for Fee	$0

						Developer's Fee as % of Basis	0.00%

9% of Basis Maximum

						Calculated 9% Fee	$0
						Within 9% Limit	$0

Negotiated Fee Between 9% and 12%
Enter Fee Percentage Below						Calculated Fee at 0%	$0
	0.00%					Fee in S&U	$0
						Within Approved Limit	$0

12% Maximum
						12% Fee	$0
						Within 12% Limit	$0

					Page 7 of 12			form HUD-50156 (7/2015)

Sheet 8: 7 - Contractor Fee


		Contractor Fee Limit

	Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
	Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
	Phase/Project Name:	[Enter the name of the phase/project]
	PIC Development Number:	[enter the new AMP-format development number]

	Project Costs taken from Exhibit F-2, Permanent S&U Under the tab named "Exh F-2 Perm"

Hard Construction Costs
	Residential construction		$-	Total of All Residential Construction
	Site work and landscaping		$-	Total of Site Improvements Part A
	Basis		$0

			Amount	Percentage of Basis
Overhead: 2% Limit
	term sheet		$-	0.00%
	calculated		$0	2.00%
	difference		$0	Within Limit

Profit: 6% Limit
	term sheet		$0	0.00%
	calculated		$0	6.00%
	difference		$0	Within Limit

General Conditions: 6% Limit (G&A includes Bond Premium)
	term sheet		$0	0.00%
	calculated		$0	6.00%
	difference		$0	Within Limit


		Page 8 of 12			form HUD-50156 (7/2015)

Sheet 9: 8 - ProForma Assumptions


			Mixed-Finance Operating Pro forma Worksheet
	Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
	Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
	Phase/Project Name:	[Enter the name of the phase/project]
	PIC Development Number:	[enter the new AMP-format development number]


Provide the following assumptions, which should be reflected on the 15 year operating pro forma.

ASSUMPTIONS

		Rental income annual increase (%)	0.0%
		Other income annual increase (%)	0.0%
		Vacancy rate (%)	0.0%
		Expense annnual increase (%)	0.0%
		Replacement reserve monthly amount ($)	$0.00
		Replacement reserve annual increase (%)	0.0%

Property Management Fee (Fixed fee OR % of EGI, NOT BOTH)
	Fixed fee (per unit per month) ($)	$0.00
	Annual increase (%)	0.0%

		Percentage of Effective Gross Income	0.0%

			Page 9 of 12	form HUD-50156 (7/2015)

Sheet 10: 9 - ProForma Rents


			Rental Income

		Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
		Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
		Phase/Project Name:	[Enter the name of the phase/project]
		PIC Development Number:	[enter the new AMP-format development number]

	# of	Number	Monthly	Avg PH	Operating	Annual
Type	Bedrooms	of Units	Rent	Rent	Subsidy	Rent
ACC Units (including ACC/LIHTC)**		0		$0	$0	0

Market Rate						0
						0
						0
						0
						0
						0
						0
						0
						0
						0
Total Market		0				0
LIHTC only						0
						0
						0
						0
						0
						0
						0
						0
Total LIHTC only		0				0
S8/ LIHTC*						0
						0
						0
						0
						0
Total S8/Tax Credit		0				0
Tota Units		0				0
*Section 8/Low Income Housing Tax Credit rent is the lower of S8 or LIHTC allowable rent. For this project LIHTC rent is lower.

** Public Housing rent is the greater of 30% of income or $25.

All rents should be net of utility allowances.

			Page 10 of 12				form HUD-50156 (7/2015)

Sheet 11: 10 - 15 Yr. ProForma

						15 Year Operating Pro Forma
Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
Phase/Project Name:	[Enter the name of the phase/project]
PIC Development Number:	[enter the new AMP-format development number]

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10	Year 11	Year 12	Year 13	Year 14	Year 15
Operating Income
Market Rate Rent	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
LIHTC Rent	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project Based Voucher Rent	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Rental Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Non-Public Housing Rental Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Public Housing Rental Income
Tenant Rent	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Public Housing Operating Subsidy	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Public Housing Rental Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Rental Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Income (laundry, interest, etc.)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Less Vacancy Allowance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Effective Gross Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Operating Expenses
Salaries	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Management Fee	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Utilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Maintenance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Insurance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Real Estate Taxes/PILOT	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Supportive Services	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Advertising	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Office	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounting	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Security	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other:	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Transfer to Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Expeness	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Operating Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debt Service
Loan 1:	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Loan 2:	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Loan 3:	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Debt Service	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debt Coverage Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fee:
Fee:
Fee:
Cash Flow Available for Distribution	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Distribution:
Distribution:
Distribution:
Distribution:
Distribution:
TOTAL	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0



							Page 11 of 12									form HUD-50156 (7/2015)

Sheet 12: 11 - Draw Schedule


SAMPLE Draw Schedule This is not a mandatory HUD format. The Grantee may use any format that is acceptable to the HUD Grant Manager. This Tab is not Protected and may be replaced. When replacing the Tab, be sure that the Grantee Name, Phase/Project Name and PIC Development Number are included.
Applicant PHA/Grantee:	[Enter the PHA/Grantee name]
Grant Name, if applicable:	[enter the HOPE VI or Choice Neighborhoods grant name]
Phase/Project Number & Name:	[Enter the name of the phase/project]
PIC Development Number:	[enter the new AMP-format development number]

		Date Prepared:	17-Dec-10						1,225,314	1,293,387	1,070,573	808,367	323,347	269,456	269,456
			% of Construction Costs Completed	2.50%	7.50%	7.50%	10.00%	12.50%	12.00%	12.00%	10.00%	7.50%	3.00%	2.50%	2.50%	2.50%	8.00%	0.00%	0.00%							100%
Flow of Funds Analysis				Closing Draw	Draw1	Draw2	Draw3	Draw4	Draw5	Draw6	Draw7	Draw8	Draw9	Draw10	Draw11	Draw12	Draw13	Draw14	Draw15	Draw16	Draw17	Draw18	Draw20	Draw21	Draw22
			Starting Balance	Dec-10	Jan-11	Feb-11	Mar-11	Apr-11	May-11	Jun-11	Jul-11	Aug-11	Sep-11	Oct-11	Nov-11	Dec-11	Jan-12	Feb-12	Mar-12	Apr-12	May-12	Jun-12	Jul-12	Aug-12	Sep-12	Ending Balance
Uses of Funds				Closing												2nd Installment - Construction Completion				3rd Installment - Conversion			4th Installment - Stabilization/ 8609s
Acquisition Costs
Land			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Building			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Total Acquisition Costs			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Hard Costs																											-
Hard Construction Costs			9,075,000	226,875	680,625	680,625	907,500	1,134,375	1,089,000	1,089,000	907,500	680,625	272,250	226,875	226,875	226,875	726,000	0								0	-	0
Site Work			1,000,000	25,000	75,000	75,000	100,000	125,000	120,000	120,000	100,000	75,000	30,000	25,000	25,000	25,000	80,000	0								0	-
General Requirements			544,500	13,613	40,838	40,838	54,450	68,063	65,340	65,340	54,450	40,838	16,335	13,613	13,613	13,613	43,560	0								0	-
Contractor Overhead			181,500	4,538	13,613	13,613	18,150	22,688	21,780	21,780	18,150	13,613	5,445	4,538	4,538	4,538	14,520	0								0	-
Contractor Profit			544,500	13,613	40,838	40,838	54,450	68,063	65,340	65,340	54,450	40,838	16,335	13,613	13,613	13,613	43,560	0								0	-
Contractor Bond Premium					0	0	0	0																		0	-
Contingency			725,000	0	0	217,500	0	0	145,000	0	145,000	0	0	0	0	0	0		0	217,500						0	-
FF&E			250,000	37,500	-	-	25,000	25,000	-	-	-	-	-	25,000	25,000	25,000	37,500	50,000	-	0	0					0	-
Retainage				(28,364)	(85,091)	(85,091)	(113,455)	(141,819)	(136,146)	(68,073)	(63,978)	(42,546)	50% complete retainage to 5% (17,018)	(14,182)	(14,182)	(14,182)	(45,382)	869,508	0		0					0	-
Total Hard Costs			12,320,500	292,774	765,821	983,321	1,046,095	1,301,369	1,370,314	1,293,387	1,215,573	808,367	323,347	294,456	294,456	294,456	899,758	919,508	0	217,500	0	0	0	0	0	0	-
Soft Construction Costs																											-
Architecture Design & Engineering			680,000	470,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	30,000	0	0	0	0	0	0			0	-
Survey & As-Built Survey			25,000	25,000																						0	-
Environmental			60,000	60,000																						0	-
Soils & Materials Testing/Structural Report			20,000	20,000																						0	-
Insurance			60,000	30,000	0								0			30,000										0	-
Construction Loan Interest Rate Cap			0	0																						0	-
Construction Loan Legal, Due Diligence and Appraisal			48,000	48,000																						0	-
Permanent Loan Origination			19,625																				19,625			0	-
Inspection Fees			35,000		2,692	2,692	2,692	2,692	2,692	2,692	2,692	2,692	2,692	2,692	2,692	2,692	2,692									0	-
Title & Recording			34,000	34,000																			0		0	0	-
Developer Legal			125,000	100,000																			25,000			0	-
Accountant and Audit			80,000	40,000												0	40,000									0	-
Appraisal & Market Study			15,000	15,000	0																					0	-
Marketing			55,000					11,000	5,500	5,500	5,500	5,500	5,500	5,500	5,500	5,500										0	-
Rent-up Reserve			200,000														33,333	33,333	33,333	33,333	33,333	33,333			0	0	-
Soft Cost Contingency			48,503								3,731	3,731	3,731	3,731	3,731	3,731	3,731	3,731	3,731	3,731	3,731	3,731	3,731			0	-
Operating Reserve			581,500													0					0		581,500	0	0	0	-
Replacement Reserve			49,452																				49,452			0	-
Tax Credit Application Fees			4,000	4,000	0																					0	-
Tax Credit Fees (Reservation and Monitoring)			171,700	171,700														0	0	0	0	0	0	0	0	0	-
Developer Overhead			488,800	391,040	0	0	0	0	0	0	0	0	0	0	0	41,396	56,364	0	0	0	0	0	0			0	-
Developer Fee			1,466,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,466,400		0	0	-
AHA Developer Fee			488,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	488,800	0	0	0	-
Total Soft Construction Costs			5,979,797	2,050,757	18,992	20,627	21,859	32,859	27,359	30,014	38,934	44,162	47,714	49,260	50,692	154,526	191,327	62,271	62,271	62,271	37,064	37,064	2,939,773	0	0	0	-	37,064
Total Development Costs			18,300,297	2,343,531	784,813	1,003,948	1,067,954	1,334,228	1,397,673	1,323,401	1,254,507	852,528	371,061	343,716	345,148	448,982	1,091,085	981,779	62,271	279,771	37,064	37,064	2,939,773	0	0	18,300,297	-
Loan Repayment			10,925,000									0								10,925,000		0	0		0	10,925,000
Total Project Uses			29,225,297	2,343,531	784,813	1,003,948	1,067,954	1,334,228	1,397,673	1,323,401	1,254,507	852,528	371,061	343,716	345,148	448,982	1,091,085	981,779	62,271	11,204,771	37,064	37,064	2,939,773	-	-	29,225,297
Constr. Sources of Funds			% Equity pay-in	24%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	36%	0%	0%	0%	42%	0%	0.0%	18.0%	0%	0%	Ending Balance
Investor Disbursement/Draws			8,599,320	1,719,864	-	-	-	-	-	-	-	-	-	-		448,982	1,091,085	464,779	62,271	2,404,413	37,064	37,064	2,333,796	-	-	8,599,320
Investor Balance Available			-	-	-	-	-	-	-	-	-		-	-	-	2,130,814	1,039,729	574,950	512,678	1,118,027	1,080,963	1,043,898	-	-	-
Bank Construction Loan Disbursement		50%	10,925,000	311,833	392,406	295,760	-	-	637,267	1,245,416	1,254,507	852,528	371,061	343,716	345,148	-	-	-	-	4,875,357	-	-	-	-	-	10,925,000
AHA Disbursement		50%	5,170,000	311,833	392,406	708,188	1,067,954	1,334,228	760,406	77,985								517,000	-				-			5,170,000
Deferred Developers Fee			605,977													-		(0)				(0)	605,977	-		605,977


Permanent Sources
Interest Earnings																									-	-
Deferred Developers Fee				-																					-
Total Project Sources			29,225,297	2,343,531	784,813	1,003,948	1,067,954	1,334,228	1,397,673	1,323,401	1,254,507	852,528	371,061	343,716	345,148	448,982	1,091,085	981,779	62,271	11,204,771	37,064	37,064	2,939,773	-	-	29,225,297	-
			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-	-	-	-	-	0
AHA Potential Eligible Costs			5,170,000	1,544,724	784,813	1,003,948	1,067,954	1,334,228	1,355,391	594,985	517,000	517,000	371,061	343,716	345,148	407,586	517,000	517,000	-	-	-	-		-	-	11,221,551
AHA Loan Disbursement				311,833	392,406	708,188	1,067,954	1,334,228	760,406	77,985	-	-	-	-	-	-	-	517,000	-	-	-	-		-	-	5,170,000
AHA Loan Balance Start Month				5,170,000	4,858,167	4,465,760	3,757,572	2,689,619	1,355,391	594,985	517,000	517,000	517,000	517,000	517,000	517,000	517,000	517,000	-	-	-	-	-	-	-	-
AHA Disbursements for Eligible Costs Only				Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes		Yes	Yes
AHA Cumulative Loan Balance				311,833	704,240	1,412,428	2,480,381	3,814,609	4,575,015	4,653,000	4,653,000	4,653,000	4,653,000	4,653,000	4,653,000	4,653,000	4,653,000	5,170,000	5,170,000	5,170,000	5,170,000	5,170,000	5,170,000	5,170,000	5,170,000
Projected Construction Interest Due Based on Draw Schedule			10,925,000	-	1,299	2,934	4,167	4,167	4,167	6,822	12,011	17,238	20,790	22,337	23,769	25,207	25,207	25,207	25,207	25,207	-	-	-	-	-	245,735
Cumulative Bank Construction Loan Balance				311,833	704,240	1,000,000	1,000,000	1,000,000	1,637,267	2,882,683	4,137,190	4,989,719	5,360,779	5,704,495	6,049,643	6,049,643	6,049,643	6,049,643	6,049,643	-	-	-	-	-	-
Page 12 of 12			form HUD-50156 (7/2015)
																					Page 12 of 12

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File Modified	0000-00-00
File Created	0000-00-00