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EXHIBIT A
<br />Form 201 H-001 EX. A Project Cost 1 October 5, 2006
<br />Itemized Cast
<br />Total Units
<br />100 `
<br />Per Unit
<br />Cost
<br />Total Sq. Ft.
<br />67, 50.0
<br />Per Sq. Ft
<br />Cost
<br />Actual Cost
<br />Dev.
<br />Cost
<br />To Purchase Land and Buildings
<br />Land 1
<br />$
<br />5,000
<br />$
<br />7.41
<br />$
<br />500,000
<br />0.8%
<br />Acquisition of Existing Building
<br />$
<br />$
<br />-
<br />0.0%
<br />Demolition
<br />$
<br />$
<br />0.0%
<br />Other.
<br />$
<br />$
<br />0.0%
<br />Subtotal
<br />$
<br />5,000
<br />$
<br />7.41
<br />$
<br />500,000
<br />0.8%
<br />For Off- Site Work
<br />Detail: Site work
<br />$
<br />-
<br />$
<br />-
<br />$
<br />-
<br />0.0%
<br />Road
<br />$
<br />30,000
<br />$
<br />44.44
<br />$
<br />3,000,000
<br />4.7%
<br />Waters stem
<br />$
<br />8,000
<br />$
<br />11.85
<br />$
<br />800,000
<br />1.3%
<br />Subtotal
<br />$
<br />38,000
<br />$
<br />56.30
<br />$
<br />3,800,000
<br />6.0%
<br />For On -Site Improvements
<br />Detail:Sitework
<br />$
<br />65,000
<br />$
<br />96.30
<br />$
<br />6,500,000
<br />10.2%
<br />$
<br />$
<br />-
<br />o.G%
<br />$
<br />$
<br />0.0%
<br />Other.
<br />$
<br />$
<br />0.0%
<br />Subtotal
<br />$
<br />65,000
<br />$
<br />96.30
<br />$
<br />6,500,000
<br />10.2%
<br />For Rehabilitation and New Construction
<br />New Building
<br />$
<br />310,000
<br />$
<br />459.26
<br />$
<br />31,000,000
<br />48.8%
<br />Rehabilitation" (SEE NOTE)
<br />$
<br />-
<br />$
<br />-
<br />0.0%
<br />Commercial Space
<br />$
<br />$
<br />-
<br />0.0%
<br />Community Service Facility
<br />$
<br />$
<br />0.0%
<br />Appliances
<br />$
<br />3,550
<br />$
<br />5.26
<br />$
<br />355,000
<br />0.6%
<br />Contractor Overhead
<br />$
<br />21,710
<br />$
<br />32.16
<br />$
<br />2,171,000
<br />3.4%
<br />Contractor Profit
<br />$
<br />32,565
<br />$
<br />48.24
<br />$
<br />3,256,500
<br />5.1%
<br />Other. Bond & insurance
<br />$
<br />4,500
<br />$
<br />6.67
<br />$
<br />450,000
<br />0.7%
<br />Subtotal
<br />$
<br />372,325
<br />$ 551.59
<br />$
<br />37,232,500
<br />58.6%
<br />* NOTE: Complete Rehabilitation Cost
<br />Itemization form attached
<br />For Contingency
<br />Construction Contingency
<br />$
<br />23,589$
<br />34.95
<br />$
<br />2,358,875
<br />3.7%
<br />Soft Cast Contingency
<br />$
<br />600
<br />$
<br />0.89
<br />$
<br />60,000
<br />0.1%
<br />Other.
<br />$
<br />-
<br />$
<br />-
<br />0.0%
<br />Subtotal
<br />$
<br />24,189
<br />$
<br />35.84
<br />$
<br />2,418,875
<br />3.8%
<br />For Architectural and Engineering Fees
<br />Architect Fee -Design
<br />$
<br />12,750
<br />$
<br />18.89
<br />$
<br />1,275,000
<br />2.0%
<br />Architect Fee -Supervision
<br />$
<br />6,850
<br />$
<br />10.15
<br />$
<br />685,000
<br />1.1%
<br />Engineering Fees
<br />$
<br />4,630
<br />$
<br />6.86
<br />$
<br />463,000
<br />0.7%
<br />Other. Survey, Environmental
<br />$
<br />1,505
<br />$
<br />2.23
<br />$
<br />150,500
<br />0.2%
<br />Subtotal
<br />$
<br />25,735
<br />$
<br />38.13
<br />$
<br />2,573,500
<br />4.0%
<br />For Interim Costs
<br />Construction Insurance
<br />$
<br />7,435
<br />$
<br />11.01
<br />$
<br />743,500
<br />1.2%
<br />Construction Interest
<br />$
<br />10,350
<br />$
<br />15.33
<br />$
<br />1,035,000
<br />1.6%
<br />Construction Loan Origination Fee
<br />$
<br />1,500
<br />$
<br />2.22
<br />$
<br />150,000
<br />0.2%
<br />Construction Loan Credit Lnhancement
<br />$
<br />-
<br />$
<br />-
<br />0.0%
<br />Real Property Tax & Other Taxes
<br />$
<br />-
<br />$
<br />-
<br />0.0%
<br />Subtotal
<br />$
<br />19,285
<br />$
<br />28.57
<br />$
<br />1,928,500
<br />3.0%
<br />Form 201 H-001 EX. A Project Cost 1 October 5, 2006
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