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i <br />C-1 <br />C7 <br />s <br />with only one set of closing costs. <br />C. A CDBG loan at 41,o is issued in the amount of $690,000. $550,000 will be for land <br />and improvements, for 20 years (53,333 monthly). $140,000 will be for furnishings and <br />equipment, for a team of 7 years ($1,914 monthly). This loan would be in secondary position. <br />D. The owner will invest 5359,040 in the identified costs. The owner will also defer <br />management fees for the first 17 months of operation, billing those fees later during the <br />second year of operation. <br />PROJECT FINANCING, $5,319,885 TOTAL PROJECT COST <br />$4,279,860 Private loan, FILA insured <br />S 6",000 CORG loan <br />S 350,025 Owner cash (includes $31,600 management services, $25,040 engineering services, <br />$16,000 market study paid, $3,500 survey paid) <br />�*D <br />