Buchanan Gardens

8/7/2019 Buchanan Gardens

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TabF:Architect'sCertification


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Universal Design Certificate Holder Listing(This is a list of attendees only as of 1/28/10 a nd includes persons who are not registered

First Name Last Name AffiliationBen AdamsonJohn AlfordAmazetta Anderson


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Penny Anderson Stephen Thomas HomesJohn Andrews Newport News RHACharles Ansell ACA Architects, PCCharles Ansell ACA Arch itects, PCTom ArmstronqTom ArmstrongColin ArnoldJeremy Arnold Bonstra Haresign ArchitectsDaniel AtkinsMitchell Ayers Winks - Snowa Architects, PCSharon Ayers Senior Citizens Advocate Dept. of Human Svcs.Ed Baber CrossGap Ministries Inc.Lou Balodemas Balodemas ArchitectsBarbara Bane NNRHABarbara Barnes Department of Human ServicesSofia BarrJeffery Barra Toano Design, IncJeffery Barra Toano Desiqn, IncJulie Baskerville Lessard GroupPreston Basnight Kroskin D e s i ~ m Group, PCBobby Beasley VG ApartmentsRaymond Beverage Prince William Commission on AgingChris BlakeGwen Blue Hayden GroupLatoya Bobb-Semple Venture Investment PartnershipStephanie BoczarDaniel BolinagaRobert BoucheronChelsey BourgeoisGary Bowling Guernsey Tingle ArchitectsStephanie BowmanSharon Brandau Peninsula Agency on Aging, Inc.Greqory Brenzinski A2RCI ArchitectsMichael Bricker Balzer and Associates, Inc.Brian Brown Access Independence


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TabR:DocumentationoOperatingBudget


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BUCHANANGARDENSOPERATINGPROFORMASSUMPTIONS&CAVEATS#UNITS 111IncomeGrowth 2%

ExpenseGrowth 3%

InflationFactoronReserves 0%

GrossRentsLaundry&OtherIncomeFinancialIncomeVacancy/CollectionLossetc. 7.00%EffecGrossIncOperExp 5,951 perunitNetOperInc

Reserves 300 perunit

NetOperatingIncome

FirstMortgageFinancing 8,350,000 6.56%InterestPaid

Principal Paid

UnpaidBalance

DSCR

28 29 30 31 32 33 34 3

2040 2041 2042 2043 2044 2045 2046 20

2,566,188 2,617,512 2,669,862 2,723,259 2,777,724 2,833,279 2,889,944 2,94

65,811 67,127 68,469 69,839 71,236 72,660 74,114 7

2,048 2,089 2,131 2,174 2,217 2,261 2,307

(184,383) (188,071) (191,832) (195,669) (199,582) (203,574) (207,646) (21

2,449,663 2,498,657 2,548,630 2,599,602 2,651,595 2,704,626 2,758,719 2,81

1,467,330 1,511,350 1,556,691 1,603,391 1,651,493 1,701,038 1,752,069 1,80

982,333 987,307 991,939 996,211 1,000,101 1,003,588 1,006,650 1,00

33,300 33,300 33,300 33,300 33,300 33,300 33,300 3

949,033 954,007 958,639 962,911 966,801 970,288 973,350 97

####

618,773 618,773 618,773 618,773 618,773 618,773 618,773 61

225,015 199,173 171,636 142,290 111,020 77,696 42,186

393,758 419,600 447,138 476,483 507,754 541,077 576,587 6

3 ,0 34 ,8 50 2 ,6 15 ,2 50 2 ,1 68 ,1 12 1 ,6 91 ,6 29 1 ,1 83 ,8 75 6 42 ,7 98 6 6, 21 1 5

1.53 1.54 1.55 1.56 1.56 1.57 1.57


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CashFlowAfterPrimaryDebtService

LPFees 3% 6,500

DeferredDeveloperFeePaid

UPBDeferredDeveloperFee 1,034,329

DevFeePayoutPeriod 50% cashflow

PostDevFeePayoutPeriod 50% cashflow

CashFlowForSubordinateDebtService

330,260 335,233 339,866 344,138 348,028 351,515 354,577 35

14,438 14,872 15,318 15,777 16,251 16,738 17,240 1

315,821 320,362 324,548 328,361 331,778 334,777 337,336 33

3


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TabS:DocumentationoProjectBudget

BUCHANANGARDENSBUDGET

PERMANENTSOURCESOFFUNDS: 111 PERUNIT TOPermanentFirstMortgage VHDA 75,225

ArlingtonCountyAHIFLoan 102,991

APAHDeferredDeveloperFee 9,318

LIHTC&FederalHistoricEquity 92,054

TOTALSOURCES 279,588

Surplus/(shortfall)

USESOFFUNDS: PERUNIT TOACQUISITIONRELATEDCOSTS

PurchasePrice 117,162

Title&Recording Acq 239

State&LocalTaxes Acq 1,283

Acquisitioncostssubtotal 118,684

REHABILITATIONCOSTS

Construction 77,629

Builder's

Profit 3,105

General Requirements 4 581


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,GeneralRequirements 4,581

Builder'sOverhead 1,553

FFE 541

EarthcraftTesting 400

LetterofCredit&CostCertification&GCTax 1,146

ConstructionContingency 8,229

Constructioncostssubtotal 97,183

CONSTRUCTIONRELATEDCOSTS

Architect Design 5.38% 4,176

Architect Supervision 1.29% 1,000

CivilEngineering/Survey 901

LandscapeArchitect 450

ConstructionSupervision 1,351

Relocation 2,703

ConstructionInspections(Foundation) 225

SoilBorings 106

Environmental 45

BuildersRiskInsurance 450

UtilityUndergrounding 5,090

Permits 2,057

Constructionrelatedcostssubtotal 18,556

FINANCINGCOSTS

VHDALoanFees 2.00% 1,505

MortgageBroker 0.48% 360

ConstructionContractLegalReview 140

OtherLegal 311

ConstructionPeriodInterest 7,405

BorrowerLegal 541

TaxCreditConsultant 90

Appraisal/MarketStudy 135

Financingcostssubtotal 10,486

RESERVES,SOFTCOSTS&DEVFEES


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TabW:Attorney'sOpinio


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Buchanan Gardens

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