01. Fargo Property Tax Incentive for Roosevelt Family Lofts, LLC

Original Budget Changes Revised Budget Hard Direct Costs 2,652,000 204,000 Per unit Clubhouse - - Per unit FFE included above Contingency 92,820 3.50%% of Hard Construction Cost General Contractors Fee 137,241 5.00%% of Hard Construction Cost + Cont. Allocated OH Fee - 0.00%" " Total Construction Cost 2,882,061 221,697 Per unit Land Cost Per Recap 250,000 19,231 Per unit Specials Buy Down - - Per unit Total Land Cost 250,000 1,316 Per unit SAC - - Per Unit WAC - - Per UnitPAC - Res High - - Per Unit PAC - Res Med - - Per UnitPAC - Res Low - Per Unit Trunk Sewer/Trunk Water/Storm - - Per Acre City Fee Contingency - - Added SAC/WAC Units TIF - - Per Unit Total City Fees - - Per unit Architecture 14,000 778 Per UnitCivil3,500 194 Per Unit Structural 3,500 194 Per UnitGeotechnical 1,000 56 Per Unit Interiors 1,000 56 Per UnitLandscape- - Per Unit Brand - - Per UnitRendering500 28 Per Unit Feasability - - Per UnitTraffic Study - - Per Unit Pre-Con Fee - - Per UnitContingency1,000 56 Per Unit Total Consultant Costs 24,500 1,885 Per Unit Interest Expense (1st) 26,837 Interest Expense (Mezz)- 1 Year of I/0 Origination Mortgage 10,000 0.5% of Mortgage Accounting Finance Fee 2,500 0.125% of Mortgage Legal - Registration/Placement Fee 20,000 1% of MortgageAppraisal1,000 Settlement Fee 250 Title Search 1,000 Title Exam 500 Doc Prep 150 Title Insurance 2,000 0.1% of Mortgage Other Closing Fees 200 Total Financing Costs 64,437 4,956.73 Per Unit Real estate taxes 5,000 50% (due X/X & X/X) Property Insurance 5,000 Full Year Marketing - Lease Up 3,000 Management - Lease Up 1,000 Total Other Soft Costs 14,000 73.68 Per unit Developer's Fee - 0.00%% on all costs DISCOUNTED FEE - Total Development Cost 3,234,998 248,846.03 Per unit Fixed Cost Per Agreement Roosevelt Family Lofts, LLC 711 10th Ave. Construction Costs Land Costs City Costs Consultant Costs Financing Costs Other Soft Costs