HomeMy WebLinkAboutC2021-373 - 7/27/2021 - Approved
EXHIBIT A-1
Preliminary Budget & Construction Schedule
CHDO/Sponsor: TG 110, INC. (CHDO)
Project Name: PALMS AT BLUCHER PARK Project Location: 213 & 218 S. TANCAHUA ST.
Property Owner:
Total Project Cost: $18,677,176.00 HOME FY22PY21 Award: $1,000,000.00
Preliminary Budget
Project Financial Resources: (list may be adjusted to meet your project)
(Funds available to complete project) Amount
Deferred Developer Fee ........................................................................$528,571.00
FY22PY21 HOME Fund..........................................................................$1,000,000.00
Other: LIHTC ........................................................................................$13,948,605.00
.$3,200,000.00
Total Funds Available for Project ...............................................................$18,677,176.00
Estimated Expenses: (list may be adjusted to meet your project)
(List estimated expenses to complete your project) such as: Amount
Land Acquisition$
Site Work Costs .....................$
Direct New Construction Costs (includes HOME funds)...........$
.
Total Project Cost ........................................................................................$
Preliminary Construction Schedule
(Project Dates for completion of key project phases)
Projected Dates
Platting/Soil Testing (lead based paint, environmental, etc.) ................
Land Acquisition...
..
Construction 100% completion ..............................................................
NOTE: HUD/HOME Program does not required PJ to manage procurement process, due to this project
being supported by Low Income Housing Tax Credits, Developer is required to obtain a Prime Contractor
early on before Tax Credit funds are committed.