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Y.riw-",�..,:� <br /> FINANCIAL REQUIREMENTS/INFORMATION .-- Formatted:Heading 1 <br /> Financial award is based on availability of funds.Maximum funding is set at$9,99()^^.Unit <br /> gFeateF than 19,14 of^^t:.^^.^;^^t^^abased on actual project need after a detailed financial analysis of <br /> the Developer and the project.The City reserves the right to contract with a third-party for financial <br /> analysis,which costs of said analysis are the responsibility of the Developer unless otherwise waived by <br /> the City.Owner equity must be greater than 10%. <br /> Eligible Uses of Funding <br /> Eligible uses of funding include;site acquisition,land improvements,building construction,and payment <br /> of development fees.The City will not waive development fees(park dedication,trail development, <br /> sanitary sewer,stormwater)or permit fees).The City and Developer will need to work together to <br /> identify a funding source for these fees if assistance is required specific to these fees. <br /> Required Information <br /> 1. Sources and Uses Statement(below) <br /> 2. Financial Scoring Scorecard(belew) <br /> 3. Organizational Financial Statements(2 years of P&L and Balance Sheet) <br /> 4. Personal Financial Statements of Stakeholders and Tax Returns(2 years) <br /> 5. Project Pro forma/Projections(two 21 year and fifteen f 151 year projections) <br /> 6. Letter(s)of Commitment from other Funding Sources(terms,conditions) <br /> 7. Proof that the Property is not delinquent in Property Taxes <br /> Sources and Uses <br /> The Developer shall provide a detailed sources and uses statement. 121^,g^ -g^the and"g^g <br /> laxeel gffea's"^^t^^d"^^'•-dp^ ^^^tt^^" ^^t This shall include all sources of financing for the <br /> project and how those funds will be used.The Applicant shall provide a detailed listing of each. <br /> Owner equity shall be equity above and beyond any tax credit or grant source of funding.The City will <br /> exclude any tax equity. <br /> SOURCES AMOUNT($) USES AMOUNT($) <br /> Owner Equity Land Acquisition <br /> Bank Loan Site Development <br /> Other Loan Construction <br /> Fed.Grant/Loan Engineering/Arch.Services <br /> State Grant/Loan Debt Service <br /> TIF Contingencies <br /> Tax Abatement Other <br /> Revolving Loan Fund TOTAL <br /> Other <br /> TOTAL <br /> Housing Assistance Policy Final Draft—Affordable(034/208 /2014) <br /> 16 <br />