801 Alma Street Family Housing
Development Budget
Development Costs
| Construction Costs | $16,720,776 |
| Land Acquisition | 4,024,000 |
| Design & Construction Consultants | 1,800,968 |
| Finance & Carrying Costs | 1,467,806 |
| Demolition, Remediation, Site Maintenance | 253,020 |
| Indirect Costs | 4,955,832 |
| Tax Credit Syndication Expenses | 139,030 |
| Total Development Costs | $29,361,432 |
Sources of Funds
| Low-Income Housing Tax Credit Limited Partner | $12,440,815 |
| Santa Clara County – Stanford General Use Permit | 5,400,000 |
| City of Palo Alto Land Loan | 3,500,000 |
| Other City of Palo Alto Loans | 2,800,000 |
| Permanent Financing | 529,373 |
| Community Working Group | 500,000 |
| Santa Clara County Housing Trust Fund | 500,000 |
| Mental Health Services Act Capital Grant | 500,000 |
| Federal Home Loan Bank Affordable Housing Program | 490,000 |
| Mental Health Services Act Operating Subsidy | 500,000 |
| Low-Income Housing Tax Credit General Partner | 1,244 |
| Deferred Developer Fee | 200,000 |
| Funds from Capital Campaign | 2,000,000 |
| Total Sources of Funds | $29,361,432 |
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