2009-273B - Laserfiche WebLink

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APPENDIX E JUSTIFICATION FOR DEVELOPER' S FEES The Developer shall carry out the following Activities : Activity Value Per Value for Ten Property Properties Coordinate with realtor to locate and inspect NSP eligible properties TCHSC is interested in acquiring $ 1 ,500 .00 $ 15 ,000 . 00 As the buyer negotiate an offer and acceptance with the seller for each property being acquired $ 2, 500 . 00 $ 25 ,000 .00 Coordinate the preparation of all due diligence reports and make final recommendation to purchase prior to proceeding to closing $ 2,000. 00 $ 20 ,000 . 00 As buyer, coordinate property closing $ 1 ,000 . 00 $ 10,000 . 00 Prepare rehabilitation work write-up and provide rehabilitation cost $ 2,500 . 00 $ 252000 .00 Coordinate property rehabilitation $ 2,934 .20 $ 29,342 .00 Coordinate the payment of all contractor draw requests and sign acceptance at completion of rehabilitation $ 1 ,250 . 00 $ 129500 .00 Maintain property from acquisition to initial occupancy $ 2, 500. 00 $ 25 ,000. 00 Maintain security on property from acquisition to initial occupancy $ , 500 . 00 $ 5 ,000. 00 Rank applicants, verify household income information, assure no conflict of interest exists and qualify potential tenants $ 3 ,500. 00 $ 353000. 00 Maintain set of project files and financial records $ 508 . 00 $ 5 ,080 . 00 Maintain program files on properties and potential tenants $ 500 . 00 $ 59000 . 00 Provide reporting information to coup $ 500 .00 $ 5 ,000 . 00 Carry out long term rental property compliance * I Not Included I Not Included Total I S 21 ,692 .20 1 216,922.00 *The pro forma provided by the developer in their response to the county ' s Request For Proposals estimated a negative cash flow beginning in the first year on each of the five rental units that must be occupied by a very low income household. Based upon direction from DCA this analysis was not included in the Developer' s Fee Justification 44