HomeMy WebLinkAboutSubmittal Biscayne Court DocumentBiscayne Court
Work completed and in process
Obtain Site Control (Purchase & Sale Agreement) Feb-07
Environmental Phase I Report Feb-07
Proximity and Boundary site Surveys Mar-07 Y�
City of Miami's Approval of Zoning Special Exception April 26,2007 1
Conceptual Site Plan Review & Approval - City of Miami Apr-07 VI
FLORIDA HOUSING CORPORATION Applications Apr-07
* Received Tax Credit Allocation Award from Sep-07
Florida Housing Finance Corporation of $12,724,000
Acceptance to Tax Credit Underwriting Sep-07
Land Purchase and Land Title Analysis / Final ALTA land title survey Oct-07
Architectural & Civil Design for Working Drawings Oct-07
Pre -Development Loan closing Oct-07
Geotechnical Engineering Study Reports Dec-07
Finalization of Working Drawings for Permitting Feb-08
Submitted for Building Permit Mar-08
Applied for Special Exception Zoning Extension Mar-08
Received SURTAX allocation from May-08
Miami Dade County. $2,100,000
Obtain Building Permits
Closing (equity & construction loans)
Construction Commencement
Construction Completion
o&, Ji0t6q0xt-
SUBMITTED INTO THE
PUBLIC RECORD FOR
STEM ti ON ,7-aV o8 .
BSc � Covr t
JuI-08
Aug-08
Sep-08
Dec-09
BISCAYNE COURT
COMMITTED FUNDING
Source Amount
ED Oa
* Great Florida Bank $ 600,000
Miami -Dade County Surtax $ 2,100,000
Florida Housing Finance Corp. $12,724,000
1..--:
® 0
coo ® _
. Xi m TOTAL $15,424,000*
*Creating over 300 local jobs (in over 30 local Miami
companies)
Biscayne Court - Miami, FI
June 19, 2008
Mess
Total
Budget
Hard Construction Costs
GC Profit
GC General Requirements
GC Overhead
Accessory Buildings
Recreational / Owner Items
Off -Site Improvements
Hard Cost Contingency ®:
Other
8,196,000
515,695
51.5,695
171,898
0
398,920
0
368,820
0
Construction interest Expense
Bridge Loan Interest Expense
Permanent Loan Origination Fee
Permanent Loan Closing Costs
Construction Loan Origination Fee
Construction Loan Closing Costs
Bridge Loan Origination Fee
Costs of Issuance
Other Loan Closing Costs
Reserves Required by Lender
283,834
0
0
0
35,000
7,000
0
0
3,702
0
Accounting Fees •
Application Fees
Appraisal
Architect Fee -Design
Architect Fee-Supervislon
Builder's Risk Insurance
Building Permit
Brokerage Fee
Credit Underwriting Fee
Engineering Fee
Environmental Report
FHFC Administrative Fees
FHFC Application Fees
FHFC Compliance Mon. Fee
Impact Fees (Detail)
Inspection Fees
Insurance- Property/Liability
Legal Fees- Partnership
Legal Fees- Other
Market Study
Marketing & Advertising
Operating Deficit Reserve
Property Taxes
Soil Test Report
Survey(including as -built)
Title Insurance & Recording
Utility Connection Fee
Miscellaneous Costs (G}
Contingency (Soft Cost)
Existing Buildings, Owned
Existing Buildings, To be Acquired
Other Acquisition Costs
Miscellaneous Costs (G)
Land, To be Acquired
Other Land Costs
25,000
2,000
9,000
285,000
50,000
97,982
62,640
0
13,440
25,000
4,000
116,331
2,000
60,893
391,703
75,000
60,000
105,000
55,000
6,000
75,000
174,000
20,000
10,000
20,000
78,997
126,000
0
100,000
0
0
0
0
1,120,000
85,000
Developer's Admin. & Overhead
Developer's Profit Acquisition
Developer's Profit
Total During Construction
503,106
0
845,671
15,100,329
Submitted Into the public
recorctin connection with
item I/Z Li on 7- 2 O6-
Priscilla A. Thompson
City Cleric
Developer Expenses
Prepaid
Total
0
0
0
0
0
0
0
0
0
0
0
0
0
10,000
10,000
0
0
0
0
0
0
0
0
258,747
258,747
0
0
9,454
9,454
0
13,695
13,695
0
1,600
1,600
125,357
125,357
0
2,196
2,196
0
0
0
0
2,042
2,042
6,500
6,500
0
0
0
0
9,034
9,034
0
700
700
800
800
0
0
0
0
0
1,120,000
1,120,000
47,995
47,995
0
0
0
$
1,808,119.50
$
1,608,119.60
6/19/2008 2:04 PM 1 of 1
Apts
Size # of Units
BISCAYNE COURT
Affordabilit
Net
Rent
1 Bedroom 12 33% AMI 306
1 Bedroom 48 60% AMI 612
Total Units 60
SUBMITTED INTO THE
PUBLIC RECORD FOR
ITEMF?ZI_ON r24tos ,