{"text_format":"1","workbook":"xlsx","n_sheets":10,"sheets":["Dev Fin Capacity","Unit Summary","Financing","Sources & Uses","Construction Period","Operating Expenses","Proforma ","HOME Limits","Requirements for Commitment","UW & SLA "],"not_rendered":{"charts":0,"images":0,"macros":1,"external_links":1,"defined_names":22,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Dev Fin Capacity","index":0,"n_rows":137,"n_cols":6,"rows_kept":137,"cut":false,"hidden":true,"merged":[[132,5,136,5],[59,5,64,5],[67,5,69,5],[72,5,74,5],[77,5,83,5],[89,5,92,5],[94,5,97,5],[99,5,102,5],[105,5,107,5],[110,5,112,5],[118,5,121,5],[126,5,129,5]]}
["Instructions for Completing the Financial Analysis Sheet "]
[]
["The HOME regulations require the City to evaluate the fiscal soundness of applicants seeking HOME funds. The City must determine if the "]
["applicant has acceptable financial capacity based on the size, scope and complexity of the project. "]
["The City will determine if the developer has the financial capacity necessary to complete the proposed project and will evaluate the developer's net worth,"]
["portfolio risk, pre-development funding and liquidity. Developers with limited financial resources will only be considered for projects where cash needs"]
["will not exceed the developer's net or liquid assets. "]
[]
["This sheet contains the spreadsheets for the 2020 HTF RFP application to facilitate the analysis of the applicant's finances.  "]
[]
["Submitting the financial analysis:"]
["Hard (paper) copy: must be submitted as the appropriate exhibit in your application along with the appropriate audited financial statements."]
["Electronic copy: may be submitted with your application, either on disk or via email to ",null,null,"CD-DND@city.cleveland.oh.us"]
[]
["Filling out the financial analysis workbook:"]
["The worksheets have been protected.  Applicants should  complete the information on the data entry sheet using the organizations stand alone figures from "]
[" their audited financial statement.  The page number for each entry should be referenced on the form in the gray cell.    "]
[]
["Use the TAB key to navigate through the worksheet: it will bring your cursor only to those cells that need entries.  Excel will calculate figures for the "]
["Income Statement Ratio, Balance Sheet Ratio and Operating Cycle Ratio.  Please review these worksheets. Use the yellow cells  next to these calculation "]
["to provide explanation or mitigating factors.   Reference page number in the audit if appropriate.  "]
[]
["If you have questions, or have special circumstances and need to further manipulate the spreadsheets, please contact Michael McBride at 216-664-2005 or "]
["mmcbride@city.cleveland.oh.us"]
[]
[]
["**Input data in cream colored fields.**"]
["FIELD ",2016,2017,2018,2019,"Comments"]
["Income Statement"]
["Revenue"]
["Operating Expenses "]
["Depreciation"]
["Taxes & Insurance"]
[]
["Balance Sheet"]
["Cash & Marketable Securities & Other Investments"]
["Receivables"]
["Current Assets"]
["Non Current Assets"]
["Non-Current Related-party receivables"]
["Payables"]
["Current Liabilities"]
["Long Term Liabilities"]
["Unrestricted Net Assets"]
[]
["Cash Flows"]
["Net Cash After Operating Activities"]
["Net Cash Used in Investing Activities"]
["Net Cash Used in Capital Expenditures"]
["Net Cash Provided by Financing Activities"]
["Net Increase/Decrease in Cash"]
["Cash at Beginning of Year"]
["Cash at End of Year"]
[]
[]
["Calculating Income Statement Ratios and Cash flow Analysis"]
[]
[null,{"$f":"+B28","v":2016},{"$f":"+C28","v":2017},2018,2019,"Developer's Analysis Comments "]
["Revenue Growth - How much has the Company's Revenue Grown"]
["This Year's Revenue",null,{"$f":"C30","v":0},{"$f":"D30","v":0},{"$f":"E30","v":0}]
["- Last year's Revenue",null,{"$f":"B30","v":0},{"$f":"C30","v":0},{"$f":"D30","v":0}]
["= Revenue Difference",null,{"$f":"C60-C61","v":0},{"$f":"D60-D61","v":0},{"$f":"E60-E61","v":0}]
["/ Last Year's Revenue",null,{"$f":"C62/C61","v":{"$error":"#DIV/0!"}},{"$f":"D62/D61","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"}]
["x 100"]
["=% of Revenue Growth",null,{"$f":"C63","v":{"$error":"#DIV/0!"}},{"$f":"D63","v":{"$error":"#DIV/0!"}},{"$f":"E63","v":{"$error":"#DIV/0!"}}]
[]
["Operating Profit/Revenue:  Has the company maintained its Gross Profit Margin?"]
["Operating Profit",{"$f":"B30-B31","v":0},{"$f":"C30-C31","v":0},{"$f":"D30-D31","v":0},{"$f":"E30-E31","v":0}]
["/Revenue",{"$f":"B30","v":0},{"$f":"C30","v":0},{"$f":"D30","v":0},{"$f":"E30","v":0}]
["= as % of Revenue",{"$f":"B68/B69","v":{"$error":"#DIV/0!"}},{"$f":"C68/C69","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Operating Expenses/Revenue:  Has the company been able to control its operating costs?"]
["Operating Expenses ",{"$f":"B31","v":0},{"$f":"C31","v":0},{"$f":"D31","v":0},{"$f":"E31","v":0}]
["/Revenue",{"$f":"B30","v":0},{"$f":"C30","v":0},{"$f":"D30","v":0},{"$f":"E30","v":0}]
["= as % of Revenue",{"$f":"B73/B74","v":{"$error":"#DIV/0!"}},{"$f":"C73/C74","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[" Cash Flow Analysis"]
["Net Increase/Decrease in Cash",{"$f":"B51","v":0},{"$f":"C51","v":0},{"$f":"D51","v":0},{"$f":"E51","v":0}]
["Net Cash After Operating Activities",{"$f":"B47","v":0},0,0,0]
["Net Cash Used in Investing Activities",0,0,0,0]
["Net Cash Used in Capital Expenditures",0,0,0,0]
["Net Cash Provided by Financing Activities",0,0,0,0]
["Cash and Cash Equivalents, end of year",{"$f":"B36","v":0},{"$f":"C36","v":0},{"$f":"D36","v":0},{"$f":"E36","v":0}]
["Days Cash  ",{"$f":"(B36/B31)*360","v":{"$error":"#DIV/0!"}},{"$f":"(C36/C31)*360","v":{"$error":"#DIV/0!"}},{"$f":"(D36/D31)*360","v":{"$error":"#DIV/0!"}},{"$f":"(E36/E31)*360","v":{"$error":"#DIV/0!"}}]
[]
[]
["Calculating Balance Sheet Ratios"]
[null,{"$f":"+B58","v":2016},{"$f":"+C58","v":2017},2018,2019,"Developer's Analysis Comments "]
["Current Ratio:  Can company generate current/operating cash to pay bills due in next 12 months"]
["Current Assets",{"$f":"B38","v":0},{"$f":"C38","v":0},{"$f":"D38","v":0},{"$f":"E38","v":0}]
["/Current Liabilities",{"$f":"B42","v":0},{"$f":"C42","v":0},{"$f":"D42","v":0},{"$f":"E42","v":0}]
["= Current Ratio",{"$f":"B90/B91","v":{"$error":"#DIV/0!"}},{"$f":"C90/C91","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Working Capital:  How much cash remains after the company pays its bills in next 12 months"]
["Current Assets",{"$f":"B38","v":0},{"$f":"C38","v":0},{"$f":"D38","v":0},{"$f":"E38","v":0}]
[" -Current Liabilities",{"$f":"B42","v":0},{"$f":"C42","v":0},{"$f":"D42","v":0},{"$f":"E42","v":0}]
["= Working Capital",{"$f":"B95-B96","v":0},{"$f":"C95-C96","v":0},0,0]
[]
["Days Current Assets:  How many days cash is available"]
["Current Assets",{"$f":"B38","v":0},{"$f":"C38","v":0},{"$f":"D38","v":0},{"$f":"E38","v":0}]
["/Operating Expense",{"$f":"B31","v":0},{"$f":"C31","v":0},{"$f":"D31","v":0},{"$f":"E31","v":0}]
["x 360 days in Period",{"$f":"B100/B101","v":{"$error":"#DIV/0!"}},{"$f":"C100/C101","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
["= Days Cash on total current assets",{"$f":"B102*360","v":{"$error":"#DIV/0!"}},{"$f":"C102*360","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Debt Ratio:  How has the company financed operations between debt & assets?"]
["Total Liabilities (assuming Current Liabilities and Long Term Liabilities)",{"$f":"B42+B43","v":0},{"$f":"C42+C43","v":0},{"$f":"D42+D43","v":0},{"$f":"E42+E43","v":0}]
["/ Total Assets (assuming Current Assets+Non-Current Assets)",{"$f":"B39+B38","v":0},{"$f":"C39+C38","v":0},{"$f":"D39+D38","v":0},{"$f":"E39+E38","v":0}]
["= Debt Ratio",{"$f":"B106/B107","v":{"$error":"#DIV/0!"}},{"$f":"C106/C107","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Debt to Equity Ratio:  "]
["Total Liabilities",{"$f":"B42+B43","v":0},{"$f":"C42+C43","v":0},{"$f":"D42+D43","v":0},{"$f":"E42+E43","v":0}]
["/ Net Unrestricted Assets",{"$f":"B44","v":0},{"$f":"C44","v":0},{"$f":"D44","v":0},{"$f":"E44","v":0}]
["= Debt to Equity Ratio",{"$f":"B111/B112","v":{"$error":"#DIV/0!"}},{"$f":"C111/C112","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Operating Cycle Ratios"]
[]
[null,{"$f":"+B88","v":2016},{"$f":"+C88","v":2017},2018,2019,"Developer's Analysis Comments "]
["Days Receivable:  How long, on average, does the company take to collect ?"]
["Receivables",{"$f":"B37","v":0},{"$f":"C37","v":0},{"$f":"D37","v":0},{"$f":"E37","v":0}]
["/Revenue",{"$f":"B30","v":0},{"$f":"C30","v":0},{"$f":"D30","v":0},{"$f":"E30","v":0}]
["x 360 days in Period",{"$f":"B119/B120","v":{"$error":"#DIV/0!"}},{"$f":"C119/C120","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
["= Days Receivable",{"$f":"B121*360","v":{"$error":"#DIV/0!"}},{"$f":"C121*360","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Non Current  related Party  Receivables",{"$f":"B40","v":0},{"$f":"C40","v":0},{"$f":"D40","v":0},{"$f":"E40","v":0}]
[]
["Days Payable:  How long, on average, does the company take to pay its suppliers?"]
["Payables",{"$f":"B41","v":0},{"$f":"C41","v":0},{"$f":"D41","v":0},{"$f":"E41","v":0}]
["/operating expense",{"$f":"B31","v":0},{"$f":"C31","v":0},{"$f":"D31","v":0},{"$f":"E31","v":0}]
["x 360 days in Period",{"$f":"B127/B128","v":{"$error":"#DIV/0!"}},{"$f":"C127/C128","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
["= Days Payable",{"$f":"B129*360","v":{"$error":"#DIV/0!"}},{"$f":"C129*360","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
["Operating Cycle:  How long, on average, does the company have its cash tied up in the operations of the business"]
["+ Days Receivable",{"$f":"B122","v":{"$error":"#DIV/0!"}},{"$f":"C122","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[" - Days Payable",{"$f":"B130","v":{"$error":"#DIV/0!"}},{"$f":"C130","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
["= Operating Cycle",{"$f":"B133+B134","v":{"$error":"#DIV/0!"}},{"$f":"C133+C134","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
["Days Cash-liquid assets",{"$f":"(B36/B31)*365","v":{"$error":"#DIV/0!"}},{"$f":"(C36/C31)*365","v":{"$error":"#DIV/0!"}},{"$f":"(D36/D31)*365","v":{"$error":"#DIV/0!"}},{"$f":"(E36/E31)*365","v":{"$error":"#DIV/0!"}}]
["Days Cash - total current assets",{"$f":"B103","v":{"$error":"#DIV/0!"}},{"$f":"C103","v":{"$error":"#DIV/0!"}},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]

{"sheet":"Unit Summary","index":1,"n_rows":30,"n_cols":14,"rows_kept":30,"cut":false,"hidden":false,"merged":[[0,0,0,13],[24,0,24,1]]}
["Unit Summary "]
["NUMBER OF UNITS","NUMBER OF BED-ROOMS","Total Bedrooms","NUMBER OF BATHROOMS","SQUARE FOOTAGE","Total Sqft","AFFORDABLE TO WHAT % OF AMGI","OCCUPIED BY WHAT % OF AMGI?","GROSS RENTS","TENANT PAID UTILITIES","RENTAL SUBSIDY","NET RENTS","MONTHLY RENTAL INCOME","*MAXIMUM GROSS HOME RENTS"]
[null,null,{"$f":"B3*A3","v":0},null,null,{"$f":"E3*A3","v":0},null,null,null,null,null,{"$f":"I3-J3+K3","v":0},{"$f":"L3*A3","v":0}]
[null,null,{"$f":"B4*A4","v":0},null,null,{"$f":"E4*A4","v":0},null,null,null,null,null,{"$f":"I4-J4+K4","v":0},{"$f":"L4*A4","v":0}]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[null,null,0,null,null,0,null,null,null,null,null,0,0]
[{"$f":"SUM(A3:A22)","v":0},{"$f":"SUM(B3:B22)","v":0},{"$f":"SUM(C3:C22)","v":0},null,{"$f":"SUM(E3:E22)","v":0},{"$f":"SUM(F3:F22)","v":0},null,null,null,null,null,"Monthly Rental Income: ",{"$f":"SUM(M3:M22)","v":0}]
[]
["Unit Summary "]
["Total 0BR",{"$f":"SUMIF(B3:B22,0,A3:A22)","v":0}]
["Total 1BR",{"$f":"SUMIF(B3:B22,1,A3:A22)","v":0}]
["Total 2BR",{"$f":"SUMIF(B3:B22,2,A3:A22)","v":0}]
["Total 3BR",{"$f":"SUMIF(B3:B22,3,A3:A22)","v":0}]
["Total 4BR",{"$f":"SUMIF(B3:B22,4,A3:A22)","v":0}]

{"sheet":"Financing","index":2,"n_rows":37,"n_cols":22,"rows_kept":37,"cut":false,"hidden":false,"merged":[[12,3,12,5],[11,3,11,5],[9,3,9,5],[2,0,2,14],[17,0,17,14],[6,3,6,5],[7,3,7,5],[8,3,8,5],[10,3,10,5],[5,3,5,5],[22,3,22,5],[19,3,19,5],[29,3,29,5],[23,3,23,5],[24,3,24,5],[25,3,25,5],[26,3,26,5],[27,3,27,5],[28,3,28,5],[20,3,20,5],[21,3,21,5]]}
[]
[]
["CONSTRUCTION FINANCING"]
[]
[null,"All blanks pertaining to a source must be completed."]
[null,null,null,"SOURCE NAME",null,null,"AMOUNT","ANNUAL INTEREST PAYMENT","INTEREST RATE","LOAN TERM (MONTHS)","AMORTIZATION TERM (MONTHS)","Source Secured?","Convert to Perm or Perm source bridged","Date Applied / Applying For",null,null,null,null,"Committed"]
[null,null,"CONSTRUCTION LOAN",null,null,null,0,{"$f":"IF(G7>0,(I7*G7),(0))","v":0},null,null,null,null,null,null,null,null,null,null,"Applied For"]
[null,null,"TAX CREDIT EQUITY",null,null,null,0,null,null,null,null,null,null,null,null,null,null,null,"Applying For"]
[null,null,"HISTORIC TAX CREDIT EQUITY",null,null,null,0,null,null,null,null,null,null,null,null,null,null,null,"Unknown "]
[null,null,"DEFERRED DEVELOPER FEE",null,null,null,0,0]
[null,null,"CITY OF CLEVELAND",null,null,null,0,{"$f":"IF(G11>0,(I11*G11),(0))","v":0},0,0,0]
[null,null,"OTHER FINANCING",null,null,null,0,0]
[null,null,"OTHER FINANCING",null,null,null,0,0]
[null,null,null,null,null,null,{"$f":"SUM(G7:G13)","v":0},{"$f":"SUM(H7:H13)-(H8+H9)","v":0}]
[null,null,null,null,null,null,null,"*formula is provided, however cell is unlocked so you"]
[null,"All blanks pertaining to a source must be completed. ",null,null,null,null,null,"are able to enter your actual payment amount"]
[]
["PERMANENT FINANCING "]
[]
[null,null,null,"SOURCE NAME",null,null,"AMOUNT","*ANNUAL DEBT SERVICE","INTEREST RATE","LOAN TERM (YEARS)","AMORTIZATION TERM (YEARS)","Hard or Soft Debt?","Source Secured?","Construction source bridged","Date Applied / Applying For"]
[null,null,"PERMANENT LOAN (1st)",null,null,null,0,{"$f":"IF(G21>0,(-PMT(I21/12,K21*12,G21))*12,(0))","v":0}]
[null,null,"PERMANENT LOAN (2nd)",null,null,null,0,{"$f":"IF(G22>0,(-PMT(I22/12,K22*12,G22))*12,(0))","v":0}]
[null,null,"TAX CREDIT EQUITY",null,null,null,0,0]
[null,null,"HISTORIC TAX CREDIT EQUITY",null,null,null,0,0]
[null,null,"DEFERRED DEVELOPER FEE",null,null,null,0,0]
[null,null,"CITY OF CLEVELAND",null,null,null,0,{"$f":"IF(G26>0,(-PMT(I26/12,K26*12,G26))*12,(0))","v":0}]
[null,null,"SOFT FINANCING 1 (Specify)",null,null,null,0,0]
[null,null,"SOFT FINANCING 2 (Specify)",null,null,null,0,0]
[null,null,"OTHER FINANCING 1 (Specify)",null,null,null,0,0]
[null,null,"OTHER FINANCING 2 (Specify)",null,null,null,0,0]
[null,null,null,null,null,"TOTALS",{"$f":"SUM(G21:G30)","v":0},{"$f":"SUM(H21:H30)","v":0}]
[null,"All blanks pertaining to a source must be completed. ",null,null,null,null,null,"*formula is provided, however cell is unlocked so you"]
[null,null,null,null,null,null,null,"are able to enter your actual payment amount"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"."]

{"sheet":"Sources & Uses","index":3,"n_rows":66,"n_cols":20,"rows_kept":66,"cut":false,"hidden":false,"merged":[[19,0,19,2],[18,0,18,2],[27,0,27,2],[2,0,2,2],[14,0,14,2],[10,0,10,2],[13,0,13,2],[16,0,16,2],[9,0,9,2],[20,0,20,2],[23,0,23,2],[0,0,0,16],[11,0,11,2],[6,0,6,2],[5,0,5,2],[4,0,4,2],[1,3,1,13],[28,0,28,2],[26,0,26,2],[40,0,40,2],[36,0,36,2],[21,0,21,2],[31,0,31,2],[29,0,29,2],[34,0,34,2],[35,0,35,2],[48,0,48,2],[49,0,49,2],[63,0,63,2],[42,0,42,2],[45,0,45,2],[47,0,47,2],[52,0,52,2],[43,0,43,2],[41,0,41,2],[44,0,44,2],[12,0,12,2],[15,0,15,2],[62,0,62,2],[56,0,56,2],[57,0,57,2],[58,0,58,2],[30,0,30,2],[38,0,38,2],[33,0,33,2],[59,0,59,2],[61,0,61,2],[51,0,51,2],[50,0,50,2],[39,0,39,2]]}
["SOURCES AND USES ",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"#REF!","v":{"$error":"#REF!"}},{"$f":"'Unit Summary'!F23","v":0},{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,null,null,"SOURCES"]
["USES",null,null,"Total Cost","City of Cleveland HTF","Developer Equity","(Identify Source)","(Identify Source)","(Identify Source)","Deferred Developer Fee","(Identify Source)","(Identify Source)","(Identify Source)","(Identify Source)","TOTAL LINE COST","PER UNIT COSTS","Per Sqft"]
[null,null,null,"Acquisition Costs"]
["Land:",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E5:N5)","v":0},{"$f":"O5/$R$1","v":{"$error":"#REF!"}},{"$f":"O5/$S$1","v":{"$error":"#DIV/0!"}}]
["Land Broker Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E6:N6)","v":0},{"$f":"O6/$R$1","v":{"$error":"#REF!"}},{"$f":"O6/$S$1","v":{"$error":"#DIV/0!"}}]
["Building Acquisition: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,"Other Acquisition:",0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Predevelopment Costs"]
["Survey(s) Costs: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E10:N10)","v":0},{"$f":"O10/$R$1","v":{"$error":"#REF!"}},{"$f":"O10/$S$1","v":{"$error":"#DIV/0!"}}]
["Architectural Fees",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Engineering Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Appraisal: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Market Study: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Environmental Report: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Title & Recording: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Other Predevelopment:",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Site Development"]
["Demolition: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E19:N19)","v":0},{"$f":"O19/$R$1","v":{"$error":"#REF!"}},{"$f":"O19/$S$1","v":{"$error":"#DIV/0!"}}]
["Off-Site Improvements: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["On-Site Improvements: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Other Predevelopment:",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Hard Construction"]
["General Requirements: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E24:N24)","v":0},{"$f":"O24/$R$1","v":{"$error":"#REF!"}},{"$f":"O24/$S$1","v":{"$error":"#DIV/0!"}}]
[null,null,"Permit:",0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,"Site Security:",0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Commercial Costs (Not Hard Construction):",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Hard Construction (Res. New Const.): ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Hard Construction (Res. Rehab.): ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Hard Construction (Commercial): ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Hard Construction (Amenity Fee Items*): ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Construction Contingency: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,"Appliances",0,null,null,null,null,null,null,null,null,null,null,0,{"$f":"O33/$R$1","v":{"$error":"#REF!"}},{"$f":"O33/$S$1","v":{"$error":"#DIV/0!"}}]
["Furniture, Fixtures & Equipment:",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Contractor Overhead: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Contractor Profit: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Other Hard Construction:",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Interim/Finance Costs"]
["Construction Insurance: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E39:N39)","v":0},{"$f":"O39/$R$1","v":{"$error":"#REF!"}},{"$f":"O39/$S$1","v":{"$error":"#DIV/0!"}}]
["Construction Interest: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Construction Loan(s) Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Permanent Loan(s) Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Costs of TE-Bond Issuance: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Impact Fees/Tap Fees/Taxes: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Rent-up Costs/Marketing: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Other Interim/Finance Costs",null,"Other Interim/Finance Costs",0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Professional Fees"]
["Legal Fees (not syndication related): ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E48:N48)","v":0},{"$f":"O48/$R$1","v":{"$error":"#REF!"}},{"$f":"O48/$S$1","v":{"$error":"#DIV/0!"}}]
["Accounting Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Developer's Fee & Overhead: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Consultant Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["**Organizational Fees: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["**Syndication Expenses: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,"Asset Management Fee:",0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,"Other Professional Fees:",0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Compliance Costs"]
["Housing Credit Application Fee: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E57:N57)","v":0},{"$f":"O57/$R$1","v":{"$error":"#REF!"}},{"$f":"O57/$S$1","v":{"$error":"#DIV/0!"}}]
["Housing Credit Reservation Fee: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Compliance Monitoring Fee: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["Other ComplianceCosts/Relocation (URA):",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[null,null,null,"Reserves"]
["**Operating Reserves: ",null,null,0,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E62:N62)","v":0},{"$f":"O62/$R$1","v":{"$error":"#REF!"}},{"$f":"O62/$S$1","v":{"$error":"#DIV/0!"}}]
["**Replacement Reserves: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
["**Other Reserves: ",null,null,0,null,null,null,null,null,null,null,null,null,null,0,{"$error":"#REF!"},{"$error":"#DIV/0!"}]
[]
[null,null,"SOURCE TOTALS: ",{"$f":"SUM(D5:D64)","v":0},0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(E66:N66)","v":0},{"$f":"O66/$R$1","v":{"$error":"#REF!"}},{"$f":"O66/$S$1","v":{"$error":"#DIV/0!"}}]

{"sheet":"Construction Period","index":4,"n_rows":32,"n_cols":30,"rows_kept":32,"cut":false,"hidden":false,"merged":[[0,0,0,29],[6,0,6,13],[6,14,6,27],[6,28,6,29],[19,0,19,13],[19,14,19,27],[19,28,19,29],[29,0,29,1],[30,0,30,1],[23,0,23,1],[24,0,24,1],[25,0,25,1],[26,0,26,1],[27,0,27,1],[28,0,28,1]]}
["DEVELOPMENT PERIOD CASH FLOW / DRAW SCHEDULE"]
[]
["Demonstrate that the total funding sources are adequate and timely in their availability to cover costs at"]
["                                                               i.      acquisition, and"]
["                                                             ii.      construction/rehabilitation"]
[]
["CONSTRUCTION PERIOD SOURCES"]
[]
[null,null,null,null,"MONTH"]
[null,{"$f":"Financing!D6","v":"SOURCE NAME"},"Amount","Acquisition",1,{"$f":"+E10+1","v":2},3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,{"$f":"+U10+1","v":18},{"$f":"+V10+1","v":19},{"$f":"+W10+1","v":20},{"$f":"+X10+1","v":21},{"$f":"+Y10+1","v":22},{"$f":"+Z10+1","v":23},{"$f":"+AA10+1","v":24},"Totals","Balance"]
[{"$f":"Financing!C7","v":"CONSTRUCTION LOAN"},{"$f":"Financing!D7","v":0},{"$f":"Financing!G7","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"+SUM(D11:AB11)","v":0},{"$f":"+C11-AC11","v":0}]
[{"$f":"Financing!C8","v":"TAX CREDIT EQUITY"},{"$f":"Financing!D8","v":0},{"$f":"Financing!G8","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"+SUM(D12:AB12)","v":0},{"$f":"+C12-AC12","v":0}]
[{"$f":"Financing!C9","v":"HISTORIC TAX CREDIT EQUITY"},{"$f":"Financing!D9","v":0},{"$f":"Financing!G9","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,{"$f":"+C13-AC13","v":0}]
[{"$f":"Financing!C10","v":"DEFERRED DEVELOPER FEE"},{"$f":"Financing!D10","v":0},{"$f":"Financing!G10","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
[{"$f":"Financing!C11","v":"CITY OF CLEVELAND"},{"$f":"Financing!D11","v":0},{"$f":"Financing!G11","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
[{"$f":"Financing!C12","v":"OTHER FINANCING"},{"$f":"Financing!D12","v":0},{"$f":"Financing!G12","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
[{"$f":"Financing!C13","v":"OTHER FINANCING"},{"$f":"Financing!D13","v":0},{"$f":"Financing!G13","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
[null,"Total Sources",{"$f":"+SUM(C11:C17)","v":0},{"$f":"SUM(D11:D17)","v":0},{"$f":"+SUM(E11:E17)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["CONSTRUCTION PERIOD USES"]
[]
[null,null,null,null,"MONTH"]
[null,null,"Amount","Acquisition",{"$f":"E10","v":1},{"$f":"F10","v":2},3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,"Totals","Balance"]
["Acquisition Costs",null,{"$f":"SUM('Sources & Uses'!D5:D8)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(D24:AB24)","v":0},{"$f":"SUM(E24:V24)","v":0}]
["Predevelopment Costs",null,{"$f":"SUM('Sources & Uses'!D10:D17)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(D25:AB25)","v":0},{"$f":"SUM(E25:V25)","v":0}]
["Site Development",null,{"$f":"SUM('Sources & Uses'!D19:D22)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
["Hard Construction",null,{"$f":"SUM('Sources & Uses'!D24:D37)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
["Interim/Finance Costs",null,{"$f":"SUM('Sources & Uses'!D39:D46)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
["Professional Fees",null,{"$f":"SUM('Sources & Uses'!D48:D55)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
["Compliance Costs",null,{"$f":"SUM('Sources & Uses'!D57:D60)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
["Reserves",null,{"$f":"SUM('Sources & Uses'!D62:D64)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0]
[null,"Total Uses",{"$f":"SUM(C24:C31)","v":0},{"$f":"SUM(D24:D31)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(AD24:AD31)","v":0}]

{"sheet":"Operating Expenses","index":5,"n_rows":81,"n_cols":14,"rows_kept":81,"cut":false,"hidden":false,"merged":[[35,0,35,7],[0,0,0,13],[14,5,14,7],[5,3,5,5],[5,10,5,12],[2,3,2,4],[3,3,3,4],[27,5,27,7],[29,5,29,7],[26,5,26,7],[28,5,28,7],[9,5,9,7],[11,5,11,7],[10,5,10,7],[12,5,12,7],[13,5,13,7]]}
["Operating Expenses"]
[]
[null,null,"Total Number of Units:",{"$f":"'Unit Summary'!A23","v":0}]
[null,null,"Net Rentable Square Footage:",{"$f":"'Unit Summary'!F23","v":0}]
[]
[null,null,null,"ANNUAL INCOME",null,null,null,null,null,null,"ANNUAL EXPENSES"]
[]
[null,null,null,"TOTAL PROJECT","PER UNIT",null,null,null,null,null,"Administrative Expenses"]
[null,null,"Rental Income"]
[null,null,"Rent",{"$f":"'Unit Summary'!M23*12","v":0},{"$f":"D10/$D$3","v":{"$error":"#DIV/0!"}},"List source(s) below",null,null,null,null,null,"Advertising and Marketing",null,{"$f":"M10/$D$3","v":{"$error":"#DIV/0!"}}]
[null,null,"Annual Residential Fee Income: ",0,{"$f":"D11/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"Office Expenses",null,{"$error":"#DIV/0!"}]
[null,null,"Annual Other Income: ",0,{"$error":"#DIV/0!"},null,null,null,null,null,null,"Administrative Salaries",null,{"$error":"#DIV/0!"}]
[null,null,"Annual Commercial Income: ",0,{"$error":"#DIV/0!"},null,null,null,null,null,null,"Telephone",null,{"$error":"#DIV/0!"}]
[null,null,"Other",0,{"$error":"#DIV/0!"},null,null,null,null,null,null,"Management Fee",null,{"$error":"#DIV/0!"}]
[null,null,"Annual Vacancy Allowance",{"$f":"D10*'Proforma '!C4*-1","v":0},{"$error":"#DIV/0!"},null,null,null,null,null,null,"Management Salary ",null,{"$error":"#DIV/0!"}]
[null,null,"TOTAL RENTAL INCOME",{"$f":"SUM(D10:D15)","v":0},{"$error":"#DIV/0!"},null,null,null,null,null,null,"Legal Expense",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Audit Expense",null,{"$error":"#DIV/0!"}]
[null,null,"Financial Income",null,null,null,null,null,null,null,null,"Accounting Fees",null,{"$error":"#DIV/0!"}]
[null,null,"Interest Income",0,{"$f":"D19/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"Bad Debts",null,{"$error":"#DIV/0!"}]
[null,null,"Interest from Reserve Accounts ",0,{"$f":"D20/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"Tenant Relations",null,{"$error":"#DIV/0!"}]
[null,null,"Other",0,{"$f":"D21/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"Misc. Administrative Expenses",null,{"$error":"#DIV/0!"}]
[null,null,"TOTAL FINANCIAL INCOME",{"$f":"SUM(D19:D21)","v":0},{"$f":"D22/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"Other 1 (type over cell to specify)",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 2 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,"Service Income",null,null,null,null,null,null,null,null,"Other 3 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,"Laundry Revenue",0,{"$f":"D25/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"TOTAL ADMIN EXPENSES",{"$f":"SUM(M10:M24)","v":0},{"$error":"#DIV/0!"}]
[null,null,"Tenant Charges/Fees",0,{"$error":"#DIV/0!"}]
[null,null,"Elderly Care/Service Delivery",0,{"$error":"#DIV/0!"},"List source(s) below",null,null,null,null,null,null,null,"Owner Paid Utilities for Common Areas and Units"]
[null,null,"Other 1",0,{"$error":"#DIV/0!"}]
[null,null,"Other 2",0,{"$error":"#DIV/0!"},null,null,null,null,null,null,"Electricity",null,{"$f":"M29/$D$3","v":{"$error":"#DIV/0!"}}]
[null,null,"Other 3",0,{"$error":"#DIV/0!"},null,null,null,null,null,null,"Water",null,{"$error":"#DIV/0!"}]
[null,null,"TOTAL SERVICE INCOME",{"$f":"SUM(D25:D30)","v":0},{"$error":"#DIV/0!"},null,null,null,null,null,null,"Gas",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Sewer",null,{"$error":"#DIV/0!"}]
[null,null,"EFFECTIVE GROSS INCOME",{"$f":"D16+D22+D31","v":0},{"$f":"D33/$D$3","v":{"$error":"#DIV/0!"}},null,null,null,null,null,null,"Cable/Internet",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 1 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 2 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
["Summary ",null,null,null,null,null,null,null,null,null,null,"TOTAL UTILITY EXPENSES",{"$f":"SUM(M29:M35)","v":0},{"$error":"#DIV/0!"}]
[null,null,"NET OPERATING INCOME",{"$f":"D33-M81","v":0},{"$f":"D37/$D$3","v":{"$error":"#DIV/0!"}}]
[null,null,null,null,null,null,null,null,null,null,null,"Operating/Maintenance"]
[]
[null,null,null,"TOTAL ADMIN EXPENSES",{"$f":"M25","v":0},null,null,null,null,null,null,"Operating/maintenance Contracts",0,{"$f":"M40/$D$3","v":{"$error":"#DIV/0!"}}]
[null,null,null,"TOTAL UTILITY EXPENSES",{"$f":"M36","v":0},null,null,null,null,null,null,"Elevator",null,{"$error":"#DIV/0!"}]
[null,null,null,"TOTAL OPER/MAINT EXPENSES",{"$f":"M57","v":0},null,null,null,null,null,null,"Garbage/Trash Removal",null,{"$error":"#DIV/0!"}]
[null,null,null,"TOTAL TAXES & INSURANCE",{"$f":"M71","v":0},null,null,null,null,null,null,"Van Driver Payroll",null,{"$error":"#DIV/0!"}]
[null,null,null,"TOTAL OTHER FINANCING EXPENSES",{"$f":"M78","v":0},"(includes replacement reserves)",null,null,null,null,null,"Janitor Payroll",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Maintenance Payroll",null,{"$error":"#DIV/0!"}]
[null,null,null,"TOTAL ANNUAL OPERATING EXPENSES",{"$f":"SUM(E40:E44)","v":0},null,null,null,null,null,null,"Maintenance Supplies",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Painting and Decorating",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"HVAC Maintenance",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Snow Removal/Landscaping",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Vehicle Operation and Repairs ",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Rent Concessions/Incentives",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Extermination",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 1 (type over cell to specify)",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 2 (type over cell to specify)",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 3 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 4 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"TOTAL OPER/MAINT EXPENSES",{"$f":"SUM(M40:M56)","v":0},{"$error":"#DIV/0!"}]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Taxes and Insurance"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Real Estate Taxes",null,{"$f":"M61/$D$3","v":{"$error":"#DIV/0!"}}]
[null,null,null,null,null,null,null,null,null,null,null,"Payroll Taxes",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Property/Liability Insurance",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Fidelity Bond Insurance",null,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Workers Compensation",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Health Insurance/Benefits",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Misc Taxes/Insurance/License",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 1 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 2 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 3 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"TOTAL TAXES & INSURANCE",{"$f":"SUM(M61:M70)","v":0},{"$error":"#DIV/0!"}]
[]
[null,null,null,null,null,null,null,null,"Other Financial Expenses (including replacement reserves)"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Replacement Reserves",null,{"$f":"M75/$D$3","v":{"$error":"#DIV/0!"}}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 1 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"Other 2 (type over cell to specify)",0,{"$error":"#DIV/0!"}]
[null,null,null,null,null,null,null,null,null,null,null,"TOTAL OTHER FINANCIAL EXPENSES",{"$f":"SUM(M75:M77)","v":0},{"$error":"#DIV/0!"}]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"TOTAL EXPENSES",{"$f":"M78+M71+M57+M36+M25","v":0},{"$f":"M81/$D$3","v":{"$error":"#DIV/0!"}}]

{"sheet":"Proforma ","index":6,"n_rows":41,"n_cols":22,"rows_kept":41,"cut":false,"hidden":false,"merged":[[1,3,2,4],[34,0,34,1],[29,0,29,1],[19,0,19,1],[16,0,16,1],[7,0,7,1],[21,0,22,0],[23,0,26,0],[27,0,28,0]]}
["Assumptions"]
[null,"Income Increase:",0.02,"City Loan Term\n% of Cashflow:"]
[null,"Expense Increase:",3.5000000000000003E-2,null,null,0.3]
[null,"Vacancy Rate:",7.0000000000000007E-2]
[]
["20-Year Proforma (stabilized vacancy rate)"]
[]
["Gross Income:",null,"Stable Year","YR 2","YR 3","YR 4","YR 5","YR 6","YR 7","YR 8","YR 9","YR 10","YR 11","YR 12","YR 13","YR 14","YR 15","YR 16","YR 17","YR 18","YR 19","YR 20"]
[null,"Annual Net Rents:",{"$f":"'Unit Summary'!M23*12","v":0},{"$f":"C9*$C$2+C9","v":0},{"$f":"D9*$C$2+D9","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Annual Res. Fee Income:",{"$f":"'Operating Expenses'!D11","v":0},{"$f":"C10*$C$2+C10","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Other Res. Income:",{"$f":"'Operating Expenses'!D12+'Operating Expenses'!D13+'Operating Expenses'!D14","v":0},{"$f":"C11*$C$2+C11","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Other Fin Income:",{"$f":"'Operating Expenses'!D22","v":0},{"$f":"C12*$C$2+C12","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Service Income:",{"$f":"'Operating Expenses'!D31","v":0},{"$f":"C13*$C$2+C13","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"(Vacancy Allowance):",{"$f":"C9*$C$4","v":0},{"$f":"D9*$C$4","v":0},{"$f":"E9*$C$4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"(Tenant Contributions):",null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Effective Gross Income:",{"$f":"C9+C10+C11+C12+C13-C14-C15","v":0},{"$f":"D9+D10+D11+D12+D13-D14-D15","v":0},{"$f":"E9+E10+E11+E12+E13-E14-E15","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
["Expenses:",null,"Stable Year","YR 2","YR 3","YR 4","YR 5","YR 6","YR 7","YR 8","YR 9","YR 10","YR 11","YR 12","YR 13","YR 14","YR 15","YR 16","YR 17","YR 18","YR 19","YR 20"]
[null,"(Operating Expenses):",{"$f":"'Operating Expenses'!E46-'Operating Expenses'!M75","v":0},{"$f":"C18*$C$3+C18","v":0},{"$f":"D18*$C$3+D18","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"(Replacement. Reserves):",{"$f":"'Operating Expenses'!M75","v":0},{"$f":"C19*$C$3+C19","v":0},{"$f":"D19*$C$3+D19","v":0},0,0,0,0,0,0,0,{"$f":"L19*$C$3+L19","v":0},0,0,0,0,0,0,0,0,0]
["Cash Flow:",null,"Stable Year","YR 2","YR 3","YR 4","YR 5","YR 6","YR 7","YR 8","YR 9","YR 10","YR 11","YR 12","YR 13","YR 14","YR 15","YR 16","YR 17","YR 18","YR 19","YR 20"]
[null,"NOI:",{"$f":"C16-C18-C19","v":0},{"$f":"D16-D18-D19","v":0},{"$f":"E16-E18-E19","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
["Hard Debt","(Debt Service (1st)):",{"$f":"Financing!H21","v":0},{"$f":"$C$22","v":0},{"$f":"$C$22","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"(Debt Service (2nd)):",{"$f":"Financing!H22","v":0},{"$f":"$C$23","v":0},{"$f":"$C$23","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
["Soft Debt","(Deferred Dev. Fee):",{"$f":"IF(AND(C41>0,(C21-C22-C23)>0),MIN((C21-C22-C23),C41),0)","v":0},{"$f":"IF(AND(D41>0,(D21-D22-D23)>0),MIN((D21-D22-D23),D41),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"City of Cleveland",{"$f":"IF((C21-C22-C23-C24)>=0,MIN(((C21-C22-C23-C24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((D21-D22-D23-D24)>=0,MIN(((D21-D22-D23-D24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((E21-E22-E23-E24)>=0,MIN(((E21-E22-E23-E24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((F21-F22-F23-F24)>=0,MIN(((F21-F22-F23-F24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((G21-G22-G23-G24)>=0,MIN(((G21-G22-G23-G24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((H21-H22-H23-H24)>=0,MIN(((H21-H22-H23-H24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((I21-I22-I23-I24)>=0,MIN(((I21-I22-I23-I24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((J21-J22-J23-J24)>=0,MIN(((J21-J22-J23-J24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((K21-K22-K23-K24)>=0,MIN(((K21-K22-K23-K24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((L21-L22-L23-L24)>=0,MIN(((L21-L22-L23-L24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((M21-M22-M23-M24)>=0,MIN(((M21-M22-M23-M24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((N21-N22-N23-N24)>=0,MIN(((N21-N22-N23-N24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((O21-O22-O23-O24)>=0,MIN(((O21-O22-O23-O24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((P21-P22-P23-P24)>=0,MIN(((P21-P22-P23-P24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((Q21-Q22-Q23-Q24)>=0,MIN(((Q21-Q22-Q23-Q24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((R21-R22-R23-R24)>=0,MIN(((R21-R22-R23-R24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((S21-S22-S23-S24)>=0,MIN(((S21-S22-S23-S24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((T21-T22-T23-T24)>=0,MIN(((T21-T22-T23-T24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((U21-U22-U23-U24)>=0,MIN(((U21-U22-U23-U24)*$F$3),Financing!$H$26),0)","v":0},{"$f":"IF((V21-V22-V23-V24)>=0,MIN(((V21-V22-V23-V24)*$F$3),Financing!$H$26),0)","v":0}]
[null,"Soft Debt 1",{"$f":"Financing!H27","v":0},{"$f":"$C$26","v":0},{"$f":"$C$26","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Soft Debt 2",{"$f":"Financing!H28","v":0},{"$f":"$C$27","v":0},{"$f":"$C$27","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
["Other","Other Financing 1",{"$f":"Financing!H29","v":0},{"$f":"$C$28","v":0},{"$f":"$C$28","v":0},{"$f":"$C$28","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Other Financing 2",{"$f":"Financing!H30","v":0},{"$f":"$C$29","v":0},{"$f":"$C$29","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$C$29","v":0}]
["Hard Debt DCR Calculation"]
[null,"Cash Flow*:",{"$f":"C21-C22-C23","v":0},{"$f":"D21-D22-D23","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Hard DCR*:",{"$f":"IF(C22+C23>0,C21/(C22+C23),0)","v":0},{"$f":"IF(D22+D23>0,D21/(D22+D23),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"* - excludes soft debt service"]
["Overall DCR Calculation"]
[null,"Cash Flow:",{"$f":"C21-C22-C23-C24-C25-C26-C27-C28-C29","v":0},{"$f":"D31","v":0},{"$f":"E31","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Overall DCR:",{"$f":"IF(SUM(C22:C29)>0,C21/SUM(C22:C29),0)","v":0},{"$f":"IF(SUM(D22:D29)>0,D21/SUM(D22:D29),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
["Def. Dev Fee Bal.",null,{"$f":"Financing!G25","v":0},{"$f":"C41-C24","v":0},{"$f":"D41-D24","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]

{"sheet":"HOME Limits","index":7,"n_rows":57,"n_cols":9,"rows_kept":57,"cut":false,"hidden":false,"merged":[[10,0,11,0],[10,1,10,3],[10,4,10,5],[1,0,1,1],[1,3,1,5],[2,1,2,6],[29,1,29,2],[29,3,30,3],[29,4,30,4],[29,5,30,5],[9,4,9,5],[12,4,16,6],[17,1,17,2],[41,5,46,5],[41,6,46,6],[47,4,48,4],[49,5,51,5],[22,4,23,5]]}
[]
["Household Income Limits:  ",null,null,"City of Cleveland, Ohio"]
[null,"Household Size"]
["Targeted Income",1,2,3,4,5,6,7,8]
["30% AMI",19000,21700,24400,27100,29300,31450,33650,35800]
["50% AMI",31666.666666666668,36166.666666666672,40666.666666666672,45166.666666666672,48833.333333333336,52416.666666666672,56083.333333333336,59666.666666666672]
[" (HOME Target)      60% AMI",37980,43440,48840,54240,58620,62940,67260,71640]
["  80% AMI",50666.666666666672,57866.666666666679,65066.666666666679,72266.666666666672,78133.333333333343,83866.666666666686,89733.333333333343,95466.666666666686]
[]
[null,null,null,null,"HOME limits updated:",null,"June 2023"]
["HOME Rent Limits"," Rent Limits"]
[null,"Low-HOME","High-HOME"]
["0 Bedrooms",719,719]
["1 Bedroom  ",820,820]
["2 Bedrooms",998,998]
["3 Bedrooms",1175,1296]
["4 Bedrooms",1311,1369]
[null,"Last Updated:",null,"June 2023"]
[]
[]
[null,"HOME Cost Allocation & Compliance"]
[null,"Total Development Costs",null,{"$f":"'Sources & Uses'!O66","v":0}]
[null,"Total HOME Funds Requested",null,{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,"HOME Subsidy as % of Total Development Costs",null,{"$f":"D23/D22","v":{"$error":"#REF!"}}]
[null,"Total Units in Project",null,{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,"Required HOME Units",null,"HOME Requirement","# HOME Units Applicant Agrees to Designate:"]
[null,"# of HOME-Assisted Units",null,{"$f":"ROUNDUP(D24*D25,0)","v":{"$error":"#REF!"}},null,"Min Low HOME:"]
[null,"# of Low HOME Units Required",null,{"$f":"ROUNDUP(IF(D27>=5,D27*0.2,0),0)","v":{"$error":"#REF!"}},null,{"$f":"IF(E27>=5,ROUNDUP(E27*0.2,0),0)","v":0}]
[null,"HOME Subsidy Per Unit",null,{"$f":"D23/D27","v":{"$error":"#REF!"}},{"$f":"D23/E27","v":{"$error":"#REF!"}}]
[null,"Minimum HOME Affordability Period",null,{"$f":"IF(D29<15000,\"5 years\",IF(D29<=40000,\"10 years\", IF(D29>40000,\"15 years\")))","v":{"$error":"#REF!"}},{"$f":"IF(E29<15000,\"5 years\",IF(E29<=40000,\"10 years\", IF(E29>40000,\"15 years\")))","v":{"$error":"#REF!"}}]
[]
[null,"Breakdown of HOME Units Required by Bedroom Type:",null,null,"Required HOME Units"]
[null,"Bedrooms ","# of Units","HOME as % TDC","(Estimated)"]
[null,"0 Bedroom",{"$f":"'Unit Summary'!B26","v":0},{"$f":"$D$24","v":{"$error":"#REF!"}},{"$f":"C34*D34","v":{"$error":"#REF!"}}]
[null,"1 Bedroom",{"$f":"'Unit Summary'!B27","v":0},{"$f":"$D$24","v":{"$error":"#REF!"}},{"$f":"C35*D35","v":{"$error":"#REF!"}}]
[null,"2 Bedroom",{"$f":"'Unit Summary'!B28","v":0},{"$error":"#REF!"},{"$f":"C36*D36","v":{"$error":"#REF!"}}]
[null,"3 Bedroom",{"$f":"'Unit Summary'!B29","v":0},{"$error":"#REF!"},{"$f":"C37*D37","v":{"$error":"#REF!"}}]
[null,"4 Bedroom",{"$f":"'Unit Summary'!B30","v":0},{"$error":"#REF!"},{"$f":"C38*D38","v":{"$error":"#REF!"}}]
[null,"Total",{"$f":"SUM(C34:C38)","v":0},"Rounded Total:",{"$f":"ROUNDUP(SUM(E34:E38),0)","v":{"$error":"#REF!"}}]
[null,"Actual Breakdown of HOME Units:  (Must match or exceed requirements listed above.)"]
[null,"Bedroom Type","# High HOME Units","# Low HOME Units","Total"]
[null,"0 Bedroom",null,null,{"$f":"SUM(C42:D42)","v":0},{"$f":"IF(E47<D27,\"Too Few HOME Units\",\"\")","v":{"$error":"#REF!"}},{"$f":"IF(D47<D28,\"Too Few Low HOME Units\",\"\")","v":{"$error":"#REF!"}}]
[null,"1 Bedroom",null,null,{"$f":"SUM(C43:D43)","v":0}]
[null,"2 Bedroom",null,null,{"$f":"SUM(C44:D44)","v":0}]
[null,"3 Bedroom",null,null,{"$f":"SUM(C45:D45)","v":0}]
[null,"4 Bedroom",null,null,{"$f":"SUM(C46:D46)","v":0}]
[null,"Total",{"$f":"SUM(C42:C46)","v":0},{"$f":"SUM(D42:D46)","v":0},{"$f":"SUM(E42:E46)","v":0}]
[null,"HOME Subsidy Limits:",null,"HUD HOME Section 234 Condominium Housing with Elevator","Gross Maximum Subsidy"]
[null,"Bedroom Type","# Units","Subsidy Limit"]
[null,"0 Bedroom",{"$f":"C42+D42","v":0},159754,{"$f":"+C50*D50","v":0},"Subsidy Limits Last Updated:"]
[null,"1 Bedroom",{"$f":"C43+D43","v":0},183132,{"$f":"+C51*D51","v":0}]
[null,"2 Bedroom",{"$f":"+C44+D44","v":0},222694,{"$f":"+C52*D52","v":0}]
[null,"3 Bedroom",{"$f":"+C45+D45","v":0},288094,{"$f":"+C53*D53","v":0},"March 17, 2022"]
[null,"4 Bedroom",{"$f":"C46+D46","v":0},316236,{"$f":"+C54*D54","v":0}]
[null,null,"Maximum HOME Subsidy Allowed",null,{"$f":"SUM(E50:E54)","v":0}]
[null,null,"HOME Funds Requested",null,{"$f":"D23","v":{"$error":"#REF!"}}]
[null,null,"Within Limits?",null,{"$f":"IF(E56<=E55,\"Yes\",\"NO\")","v":{"$error":"#REF!"}}]

{"sheet":"Requirements for Commitment","index":8,"n_rows":85,"n_cols":6,"rows_kept":85,"cut":false,"hidden":false,"merged":[[17,5,18,5],[17,2,18,2],[81,0,81,5],[9,3,11,3],[9,4,11,4],[60,0,63,0],[65,0,65,5],[70,0,70,5],[75,0,75,5],[22,0,22,4],[28,0,28,5],[17,3,18,3],[17,4,18,4],[53,0,59,0],[45,0,45,4],[51,0,52,0],[0,0,0,5],[9,2,11,2],[9,0,11,0],[15,3,16,3],[15,4,16,4],[7,0,7,4],[13,0,13,5],[35,4,37,4],[33,4,34,4],[33,3,34,3],[35,2,37,2],[30,0,37,0],[35,3,37,3]]}
["Requirements for Committing HOME Funds to “Specific Local Projects” "]
[]
[]
["Project Name: ",{"$f":"#REF!","v":{"$error":"#REF!"}}]
["IDIS Activity Number: "]
["Commitment Date: "]
[]
["Association with an approved Action Plan"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes\n","No"]
["The HOME project is associated with one of the PJ’s approved Consolidated Plan / Annual Action Plan ","Program year: ",null,"☐","☐"]
[]
[]
[]
["Environmental Review (ER)"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes\n","No","Date"]
["The ER review requirements have been met","The ER is complete (receipt of an Authority to Use Grant Funds form from HUD or the State)",null,"☐","☐"]
["OR"]
[null,"The ER is not complete, but the written agreement is a",null,"☐","☐"]
[null,"“conditional commitment” pending environmental review"]
[]
[]
[]
["The Project"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes\n","No"]
["There is an identifiable project","☐ Address",null,"☐","☐"]
["OR"]
[null,"☐ Legal description of property",null,"☐","☐"]
[]
["Assessment of Market Demand"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes\n","No","Date"]
["There is an assessment that identifies market demand for the project","PJ documented assessment of market demand Date the PJ reviewed, documented, and approved assessment",null,"☐","☐"]
[null,"Assessment was performed not more than 12 months prior to commitment",null,"☐","☐"]
[null,"Assessment is based on current, reliable data: ",null,"☐","☐"]
[null,"Assessment identified appropriate neighborhood ",null,"☐","☐"]
[null,"target area"]
[null,"Proposed pricing for project (rents, sales prices) is ",null,"☐","☐"]
[null,"appropriate for neighborhood and within HOME "]
[null,"requirements"]
[]
[]
[]
[]
[]
[]
[]
["Financing"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes\n","No"]
["Project Budget","Total HOME Funds:",{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,"Total Project Costs:",{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,"The Budget is in sufficient detail to determine total project development costs and funding",null,"☐","☐"]
["All Necessary financing has been secured","Firm commitments from all project funders have been submitted",null,"☐","☐"]
["Subsidy Layering & Underwriting","HDO has reviewed, documented and approved appropriateness of HOME assistance",null,"☐","☐"]
[null,"Sources and Uses statement is within HDO guidelines",null,"☐","☐"]
["Operating pro forma","HDO has determined the # of HOME units",null,"☐","☐"]
[null,"HOME funds are within per unit subsidy limits",null,"☐","☐"]
[null,"Operating pro forma covers entire period of affordability",null,"☐","☐"]
[null,"Assumption arte reasonable and complete",null,"☐","☐"]
[null,"Anticipated revenues are sufficient to pay debt service and other projected costs",null,"☐","☐"]
[null,"Projected rents are supported by a market assessment and meet HOME rent restriction requirements",null,"☐","☐"]
[null,"Underwriting has ensured sustainability and financial feasibility though period of affordability with sufficient capital reserves, conservative revenues trending, etc..)",null,"☐","☐"]
["Homebuyer Housing ONLY","Projected sales analysis based on reasonable range of low-income buyers",null,"☐","☐"]
[null,"Price appropriateness for income eligible buyers",null,"☐","☐"]
[null,"Anticipated closing costs reasonable ",null,"☐","☐"]
[null,"Reasonable estimates of how much HOME funding is being used for direct assistance to buyer(s)",null,"☐","☐"]
[]
["Developer Capacity"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes","No","Date"]
["Assessment of developer's financial capacity","Document and date assessment of financial capacity",null,"☐","☐"]
["Assessment of developer's experience capacity","Document and date assessment of financial capacity",null,"☐","☐"]
[]
["Project Schedule"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes","No","Date"]
["Project Schedule submitted","Project schedule received",null,"☐","☐"]
["Construction is expected to start within 12 months","The feasibility of the project commencing within 12 months is documented in the file",null,"☐","☐"]
[]
["CHDO Set-Aside Projects Only"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes","No","Date"]
["The CHDO Meets the CHDO qualification requirements at 92.2","Document the date of determination and date is prior to commitment date ",null,"☐","☐"]
["The CHDO has the capacity to undertake this specific project (relative to their role as owner, developer, sponsor)","Document the date of determination and date is prior to commitment date ",null,"☐","☐"]
["The CHDO meets the definition of either owner, developer, sponsor","Document in the file the role of the CHDO",null,"☐","☐"]
[]
["Legally Binding Written Agreement"]
["Requirement ","Documentation / Basis of Qualification","Comments","Yes","No","Date"]
["Identifies all parties to the agreement","All parties identified in contract",null,"☐","☐"]
["Provides dated signature for each party","Contract executed and dated by all parties",null,"☐","☐"]

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["HOME UNDERWRITING AND SUBSIDY LAYERING ANALYSIS ",null,null,null,null,null,null,null,null,"Total Development Costs",{"$f":"'Sources & Uses'!O66","v":0}]
["PROJECT:",{"$f":"#REF!","v":{"$error":"#REF!"}},null,null,null,null,null,null,null,"Total Hard Costs",{"$f":"'Sources & Uses'!O21+'Sources & Uses'!O29+'Sources & Uses'!O32+'Sources & Uses'!O31+'Sources & Uses'!O33+'Sources & Uses'!O34","v":0},"Sum of on-site development and hard costruction costs, amentiy fee, Furnishings, fixtures & appliances and contingency "]
["DATE:",{"$f":"TODAY()","v":"2024-03-21"},null,null,null,null,null,null,null,"Construction Contingency ",{"$f":"'Sources & Uses'!O32","v":0}]
[null,null,null,null,null,null,null,null,null,"Contract Profit",{"$f":"'Sources & Uses'!O36","v":0}]
[null,null,null,null,null,null,null,null,null,"Contractor Overhead",{"$f":"'Sources & Uses'!O35","v":0}]
["Pro Forma Assumptions",null,"Target","Applicant's #","If outside standards, briefly explain:",null,null,null,null,"Soft Costs",{"$f":"'Sources & Uses'!O48+'Sources & Uses'!O49+'Sources & Uses'!O50+'Sources & Uses'!O51+'Sources & Uses'!O52+'Sources & Uses'!O53+'Sources & Uses'!O54+'Sources & Uses'!O55","v":0},"max 20% professional and soft cost contingency "]
["Vacancy Rate ",null,7.0000000000000007E-2,{"$f":"'Proforma '!C4","v":7.0000000000000007E-2},null,null,null,null,null,"Soft cost contingeyc ",null,"max 2.5% of total professional soft costs"]
["Rent Inflation Rate Years 1-3",null,0.02,{"$f":"'Proforma '!C2","v":0.02},null,null,null,null,null,"General Requirements",{"$f":"'Sources & Uses'!O24","v":0}]
["Rent Inflation Rate Years 4+ ",null,0.02,{"$f":"'Proforma '!C2","v":0.02},null,null,null,null,null,"Developer Fee",{"$f":"'Sources & Uses'!O50","v":0}]
["Inflation Rates for      Operating Costs","Administrative",0.03,{"$f":"'Proforma '!$C$3","v":3.5000000000000003E-2},null,null,null,null,null,"Operating reserves",{"$f":"'Proforma '!C18+'Proforma '!C19+'Proforma '!C22+'Proforma '!C23","v":0},"first four months of operating expenses, hard debt service and replacement reserve constriubions"]
[null,"Operating/Maint.",0.03,{"$f":"'Proforma '!$C$3","v":3.5000000000000003E-2}]
[null,"Utilities",0.03,{"$f":"'Proforma '!$C$3","v":3.5000000000000003E-2}]
[null,"Taxes/Insurance",0.03,{"$f":"'Proforma '!$C$3","v":3.5000000000000003E-2}]
["Replacement Reserve - Rehab",null,325,{"$f":"'Operating Expenses'!N75","v":{"$error":"#DIV/0!"}}]
["Replacement Reserve - New Construction",null,275,{"$f":"'Operating Expenses'!N75","v":{"$error":"#DIV/0!"}}]
["Annual Operating Costs Per Unit",null,3500,{"$f":"('Operating Expenses'!E46-'Operating Expenses'!E44)/'Operating Expenses'!D3:E3","v":{"$error":"#DIV/0!"}}]
["Debt Coverage Ratio Year 1",null,1.25,{"$f":"'Proforma '!C33","v":0}]
["DCR Throughout Compliance Period",null,1,{"$f":"SUM('Proforma '!E33:V33)/20","v":0}]
[]
["Development Costs Standards"]
[null,"Minimum ","Maximum ","Notes",null,"Project #s","Within Limits?","Maxmimum"]
["Construction Contingency"]
["New Construction",0.05,7.4999999999999997E-2,"of Construction  ",null,{"$f":"K3/K2","v":{"$error":"#DIV/0!"}},{"$f":"AND(F23<C23,F23>B23)","v":{"$error":"#DIV/0!"}},{"$f":"K2*0.075","v":0}]
["Rehab",7.4999999999999997E-2,0.1,null,null,{"$f":"K3/K2","v":{"$error":"#DIV/0!"}},{"$f":"AND(F24<C24,F24>B24)","v":{"$error":"#DIV/0!"}},{"$f":"K2*0.1","v":0}]
["Developer Fee"]
["New Construction","N/A",0.15,"of TDC (excluding Dev Fee itself)",null,{"$f":"K9/K1","v":{"$error":"#DIV/0!"}},{"$f":"IF(F26<=C26,\"Yes\",\"No\")","v":{"$error":"#DIV/0!"}},{"$f":"K1*0.15","v":0}]
["Rehab","N/A",0.15,null,null,{"$f":"K9/K1","v":{"$error":"#DIV/0!"}},{"$f":"IF(F27<=C27,\"Yes\",\"No\")","v":{"$error":"#DIV/0!"}},{"$f":"K1*0.15","v":0}]
["Contractor's Fees"]
["Contractor Overhead","N/A",0.02,"of Hard Construction Costs ",null,{"$f":"K5/K2","v":{"$error":"#DIV/0!"}},{"$f":"IF(F29<=C29,\"Yes\",\"No\")","v":{"$error":"#DIV/0!"}},{"$f":"K2*0.02","v":0}]
["General Requirements","N/A",0.06,"of Hard Construction Costs",null,{"$f":"K8/K2","v":{"$error":"#DIV/0!"}},{"$f":"IF(F30<=C30,\"Yes\",\"No\")","v":{"$error":"#DIV/0!"}},{"$f":"K2*0.06","v":0}]
["Profit","N/A",0.06,"of Hard Construction Costs ",null,{"$f":"K4/K2","v":{"$error":"#DIV/0!"}},{"$f":"IF(F31<=C31,\"Yes\",\"No\")","v":{"$error":"#DIV/0!"}},{"$f":"K2*0.06","v":0}]
["TDC = Total Development Costs"]
[]
["Underwriting Standards",null,null,null,null,null,"Within Limits?"]
[null,null,"Maximum ","Notes",null,"Project #s"]
["Construction Loan LTV",null,0.8,null,null,{"$f":"B37/F37","v":{"$error":"#REF!"}},{"$f":"IF(F36<=C36,\"Yes\",\"No\")","v":{"$error":"#REF!"}}]
["Estimated Value:",{"$f":"#REF!","v":{"$error":"#REF!"}},null,null,null,{"$f":"B37","v":{"$error":"#REF!"}}]
["Average Hard DCR",null,1.5,null,null,"Minimum",{"$f":"IF(AND(B39>=1.2,B39<=1.5),\"TRUE\",\"False\")","v":"False"}]
["Current Value:",{"$f":"AVERAGE('Proforma '!C33:V33)","v":0},null,null,null,1.2]
[]
["Financing Commitments"]
["Source","Type","Committed?","Commitment Source Documentation","Committed?"]
[{"$f":"IF(Financing!D7=0,\"\",Financing!D7)","v":""},"Const. ",{"$f":"IF(Financing!M7=0,\"\",Financing!M7)","v":""},null,null,null,null,null,null,"Commitment Letter"]
[{"$f":"IF(Financing!D8=0,\"\",Financing!D8)","v":""},"Const. ",{"$f":"IF(Financing!M8=0,\"\",Financing!M8)","v":""},null,null,null,null,null,null,"OHFA Reservation Letter"]
[{"$f":"IF(Financing!D9=0,\"\",Financing!D9)","v":""},"Const. ",{"$f":"IF(Financing!M9=0,\"\",Financing!M9)","v":""},null,null,null,null,null,null,"Tax Credit Syndicator Good Faith Letter"]
[{"$f":"IF(Financing!D10=0,\"\",Financing!D10)","v":""},"Const. ",{"$f":"IF(Financing!M10=0,\"\",Financing!M10)","v":""}]
[{"$f":"IF(Financing!D11=0,\"\",Financing!D11)","v":""},"Const. ",{"$f":"IF(Financing!M11=0,\"\",Financing!M11)","v":""}]
[{"$f":"IF(Financing!D12=0,\"\",Financing!D12)","v":""},"Const. ",{"$f":"IF(Financing!M12=0,\"\",Financing!M12)","v":""}]
[{"$f":"IF(Financing!D13=0,\"\",Financing!D13)","v":""},"Const. ",{"$f":"IF(Financing!M13=0,\"\",Financing!M13)","v":""}]
[{"$f":"IF(Financing!D21=0,\"\",Financing!D21)","v":""},"Perm",{"$f":"IF(Financing!M21=0,\"\",Financing!M21)","v":""}]
[{"$f":"IF(Financing!D22=0,\"\",Financing!D22)","v":""},"Perm",{"$f":"IF(Financing!M22=0,\"\",Financing!M22)","v":""}]
[{"$f":"IF(Financing!D23=0,\"\",Financing!D23)","v":""},"Perm",{"$f":"IF(Financing!M23=0,\"\",Financing!M23)","v":""}]
[{"$f":"IF(Financing!D24=0,\"\",Financing!D24)","v":""},"Perm",{"$f":"IF(Financing!M24=0,\"\",Financing!M24)","v":""}]
[{"$f":"IF(Financing!D25=0,\"\",Financing!D25)","v":""},"Perm",{"$f":"IF(Financing!M25=0,\"\",Financing!M25)","v":""}]
[{"$f":"IF(Financing!D26=0,\"\",Financing!D26)","v":""},"Perm",{"$f":"IF(Financing!M26=0,\"\",Financing!M26)","v":""}]
[{"$f":"IF(Financing!D27=0,\"\",Financing!D27)","v":""},"Perm",{"$f":"IF(Financing!M27=0,\"\",Financing!M27)","v":""}]
[{"$f":"IF(Financing!D28=0,\"\",Financing!D28)","v":""},"Perm",{"$f":"IF(Financing!M28=0,\"\",Financing!M28)","v":""}]
[{"$f":"IF(Financing!D29=0,\"\",Financing!D29)","v":""},"Perm",{"$f":"IF(Financing!M29=0,\"\",Financing!M29)","v":""}]
[{"$f":"IF(Financing!D30=0,\"\",Financing!D30)","v":""},"Perm",{"$f":"IF(Financing!M30=0,\"\",Financing!M30)","v":""}]
[]
["Financing Gap"]
["Source","Type","Committed?","Amount","Notes"]
[{"$f":"A43","v":""},"Const. ",{"$f":"C43","v":""},{"$f":"Financing!G7","v":0}]
[{"$f":"A44","v":""},"Const. ",{"$f":"IF(Financing!M28=0,\"\",Financing!M28)","v":""},{"$f":"Financing!G8","v":0}]
[{"$f":"A45","v":""},"Const. ",{"$f":"IF(Financing!M29=0,\"\",Financing!M29)","v":""},{"$f":"Financing!G9","v":0}]
["","Const. ",{"$f":"IF(Financing!M30=0,\"\",Financing!M30)","v":""},{"$f":"Financing!G10","v":0}]
["","Const. ",{"$f":"IF(Financing!M31=0,\"\",Financing!M31)","v":""},{"$f":"Financing!G11","v":0}]
["","Const. ",{"$f":"IF(Financing!M32=0,\"\",Financing!M32)","v":""},{"$f":"Financing!G12","v":0}]
["","Const. ",{"$f":"IF(Financing!M33=0,\"\",Financing!M33)","v":""},{"$f":"Financing!G13","v":0}]
["TOTAL CONSTRUCTION FINANCING",null,null,{"$f":"SUM(D63:D69)","v":0}]
[]
[{"$f":"A50","v":""},"Perm",{"$f":"IF(Financing!M43=0,\"\",Financing!M43)","v":""},{"$f":"Financing!G21","v":0}]
[{"$f":"A51","v":""},"Perm",{"$f":"IF(Financing!M44=0,\"\",Financing!M44)","v":""},{"$f":"Financing!G22","v":0}]
[{"$f":"A52","v":""},"Perm",{"$f":"IF(Financing!M45=0,\"\",Financing!M45)","v":""},{"$f":"Financing!G23","v":0}]
["","Perm",{"$f":"IF(Financing!M46=0,\"\",Financing!M46)","v":""},{"$f":"Financing!G24","v":0}]
["","Perm",{"$f":"IF(Financing!M47=0,\"\",Financing!M47)","v":""},{"$f":"Financing!G25","v":0}]
["","Perm",{"$f":"IF(Financing!M48=0,\"\",Financing!M48)","v":""},{"$f":"Financing!G26","v":0}]
["","Perm",{"$f":"IF(Financing!M49=0,\"\",Financing!M49)","v":""},{"$f":"Financing!G27","v":0}]
["","Perm",{"$f":"IF(Financing!M50=0,\"\",Financing!M50)","v":""},{"$f":"Financing!G28","v":0}]
["","Perm",{"$f":"IF(Financing!M51=0,\"\",Financing!M51)","v":""},{"$f":"Financing!G29","v":0}]
["","Perm",{"$f":"IF(Financing!M52=0,\"\",Financing!M52)","v":""},{"$f":"Financing!G30","v":0}]
["TOTAL PERMENANT FINANCING",null,null,{"$f":"SUM(D72:D81)","v":0}]
[]
[]
["I,",null,", as the assigned project manager for the specific project named above, hereby certify that I have reviewed and approved the above",null,null,null,null,null,null,null,null,"Michael McBride"]
["underwriting and subsidy layering analysis. The analysis shall be used to demonstrate that the City's HOME underwriting and subsidy layering analysis guidelines have been applied to this project.",null,null,null,null,null,null,null,null,null,null,"Cecilia Rodriguez"]
[]
[]
[]
[]
[]
["Signature",null,"Date"]
[{"$f":"+B85","v":"00:00:00"}]