HomeMy WebLinkAboutRP 01-08; Laguna Point; Redevelopment Permits (RP)April 1,2004
TO: BUILDING DEPARTMENT
FROM: Management Analyst, Housing & Redevelopment Department
Approval of Plan Check PC030045
I have approved the above referenced plan check for the Laguna Pont
Condominium project. I have noted the approval in the Permits system.
If you have any questions, please contact me at x2817. Thank you for your
assistance on this matter.
(jyCEAKToTRUIZ
/Management Analyst
March 3, 2004
TO: SENIOR MANAGEMENT ANALYST, PLANNING DEPARTMENT
FROM: Management Analyst, Redevelopment Department
Final Mylar for Laguna Point (RP 01-08/CT01-13)
The conditions of approval for Major Redevelopment Permit No. RP01-08 and
Tentative Map No. CT01-13 requires the submittal of a final mylar of the site
plan. Staff has reviewed the attached mylar and finds it consistent with the site
plan approved by the Housing and Redevelopment Commission on April 9, 2002.
Since the Housing and Redevelopment Department does not maintain storage of
mylar plans, we request the Planning Department maintain this record in the
same manner as all other discretionary land use permits.
If you have any questions, please contact me at x2813. Thank you for your
assistsmce-ocithis matter.
LORI H. ROSENSTEIN
Management Analyst
January 26, 2004
TO: CITY CLERK
FROM: Management Analyst, Redevelopment Department
Notice of Restriction on Real Property (Laguna Point RP01-08/CT01-13)
Recordation of the attached Notice of Restriction on Real Property was a
Housing and Redevelopment Commission condition of approval for the Laguna
Point project. The document requires the approval of the City Attorney. Please
complete the routing of the document and submit to the County Recorder for
recordation.
If you have any questions, please contact me at x2813. Thank you for your
assistance on this matter.
LORI H. ROSENSTEIN
Management Analyst
January 16, 2004
TO: BUILDING DEPARTMENT
FROM: Management Analyst, Redevelopment Department
LAGUNA POINT (RP 01-08/CT 01-13) APN: 203-101-30,32,33
PLAN CHECK NO. PC030045
1 have completed the second plan check for the above referenced project. The Housing
and Redevelopment Commission approved this project on April 9, 2002. The following
conditions of approval must be satisfied prior to the issuance of the building permit:
\/ 1. Developer must obtain final approval of a Final Landscape and Irrigation Plan ,
showing conformance with the approved Preliminary Landscape Plan and the City's A'
Landscape Manual. The final landscape plan shall specify an average minimum 15-
trunk height for the palm trees which shall be of varying heights. Landscape and
^, - ^ irrigation plans have been submitted throuah the landscape plancheck process and
^ final approval is expected in the near future.
2. Prior to issuance of the building permit, Developer shall submit to the City a Notice
of Restriction to be filed in the Office of the County Recorder. The required Notice
of Restriction has been sent to the developer for his signature. Final processina of
the Notice is expected in the next week.
3. Prior to certificate of occupancv. the Developer shall provide the Housing and
Redevelopment Department with a recorded copy of the official CC&Rs that have
been approved by the Department of Real Estate.
/
4. Prior to the issuance of the building permit, the Developer shall submit to the
Housing and Redevelopment Department a reproducible 24" x 36" mylar copy of the
final site plan for the project.
This information has been entered into Permits Plus. If you have any questions, please
contact me..Bt x2813.
LORI H. ROSENSTEIN
C: Bill Behun, Architect
Bill Canepa, Owner
Citv of Carlsbad
Housing & Redevelopment Department
January 16, 2004
BILL CANEPA
WAVECREST RESORTS
829 SECOND STREET, #A
ENCINITAS CA 92024
SUBJECT: Laguna Point (RP 01 -08/CT 01 -13)
APN: 203-101-30,32,33
In accordance with the conditions of approval for the above referenced project, prior to
the issuance of the building permit, the developer must submit a Notice of Restriction to
be filed in the office of the County Recorder notifying all interested parties and
successors in interest that the City of Carisbad has issued a Major Redevelopment
Permit and Tentative Tract Map on the real property. I have enclosed said notice which
must be signed and notarized according to the directions contained on the signature
page. Please sign the enclosed document and return to me for processing and
recordation.
Please contact my office at (760) 434-2813, if you have any questions regarding the
information contained in this letter.
Sine
LORI H. ROSENSTEIN
Management Analyst
2965 Roosevelt St., Ste. B • Carisbad, CA 92008-2389 • (760) 434-2810/2811 • FAX (760) 720-2037 ^
fi itv of Carlsbad
Housing & Redevelopment Department
December 16, 2003
BILL CANEPA
WAVECREST RESORTS II, LLC
829 SECOND STREET, #A
ENCINITAS CA 92024
SUBJECT: Laguna Point (RP 01 -08/CT 01 -13)
APN: 203-101-30,32,33
There was an error in my last correspondence to you, dated December 10, 2003. I
erroneously stated the tentative map for the Laguna Point project is due to expire on
February 25, 2004. The correct date is April 9. 2004. The reason for this is the
February date referred to the date the Design Review Board took action on the project.
However, the project, including the tentative map, did not receive final approval until the
Housing & Redevelopment Commission granted it on April 9 th
If you do not believe you can final the tentative map before April 9, 2004, it is advisable
that you file for a time extension through the Carisbad Engineering Department. To do
this an application must be filed not less than 20 days and no more than 90 days prior
to the expiration of the tentative map. The filing fee is currently $1,900. Building
permits should also be issued prior to the April 9, 2004 deadline. However, as long as
you are showing a good faith effort that you are moving fon^/ard with the project there is
some level of flexibility associated with the deadline for issuance of the building permits
that does not apply to the tentative map.
I apologize for any misunderstanding my previous correspondence caused. If you have
any questions regarding the information contained in this letter, please contact my
office at (760) 434-2813. Wishing you a most joyous holiday season.
SincerStyr-^
LORI H. ROSENSTEIN
Management Analyst
2965 Roosevelt St., Ste. B • Carisbad, CA 92008-2389 • (760) 434-2810/2811 • FAX (760) 720-2037 @
Citv of Carlsbad
Housing & Redevelopment Department
December 10, 2003
BILL CANEPA
WAVECREST RESORTS II, LLC
829 SECOND STREET, #A
ENCINITAS CA 92024
SUBJECT: Laguna Point (RP 01-08/CT 01-13)
APN: 203-101-30,32,33
I have received your fax, dated December 8, 2003, including a copy of the preliminary
letter from DRE and your request to waive the project condition requiring the project
CC&R's be approved by the DRE prior to the issuance of building permits. We
understand the DRE process can be very time consuming and it is not our intention to
hold up the construction of the project in any way. Since we received proof that the
DRE process has been initiated, we will consider the condition satisfied for now with the
understanding that prior to the issuance of the Certificate of Occupancy a recorded
copy of the official CC&Rs that have been approved by the Department of Real Estate
will be submitted to the Housing and Redevelopment Department.
In addition, I want to remind you that the tentative map for your project is due to expire
on February 25, 2004. Prior to this date the final map must be recorded, building
permits issued, and construction much be initiated. Othen/vise, you must apply for a
time extension to your tentative map.
If you have any questions regarding the information contained in this letter, please
contact my office at (760) 434-2813. Wishing you and your family a happy and healthy
holiday season.
LORI H. ROSENSTEIN
Management Analyst
2965 Roosevelt St., Ste. B • Carlsbad, CA 92008-2389 • (760) 434-2810/2811 • FAX (760) 720-2037 ^
12/08/03 13:03 WRUE PROPERTIES INC. 619 7532423 ^ 760 720 2037 NO.152 POI
829 Second Street #A
Encinitas, Ca 92024
Phone.760-753-2440
Fax 760-753-2423
Memo
To: tori Rosenstein
Fax: 760-720-2037
Fram: Bill Canepa
Date: 12/8/03
Wave Crest Resorts
II LLC
Following is a oopy off our plnli report from the DRE.
We are concemed that they wont complete the review
of our CC&iVS prfor to our beginning constniction
(hopefully in January). We are requesting that the
condition pertaining to appraved CC&R'S be modified to
allow us to proceed. We do not intend to ofier units for
sale until some time in 2005 as the prqect nears
completion.
Thank you.
Citv of Carlsbad
Housing & Redevelopment Department
May 20, 2003
BILL CANEPA
WAVECREST RESORTS II, LLC
829 SECOND STREET, #A
ENCINITAS CA 92024
SUBJECT: Laguna Point (RP 01-08/CT 01-13)
APN: 203-101-30,32,33
I have reviewed the revised roof pitch elevations with Housing and Redevelopment
Director Debbie Fountain. It is our understanding that in order to stay under the 35-foot
height limit approved for the project your architect has come up with two options:
1. Reduce the roof pitch from 5:12 to 4.75:12; or
2. Flatten out the pitch with a built up roof or metal cap.
Staff has approved Option #1 as the preferred design to meet the height limit. This
option has been found to be in substantial conformance with the approved land use
permit. Revised building plans showing the approved revision must be submitted to the
Carisbad Building Department for final plan check review. A copy of the modified
building plans will be automatically routed through the Housing and Redevelopment
Department for final approval.
If you have any questions regarding the information contained in this letter, please
contact my office at (760) 434-2813.
Sine
LORI H. ROSENSTEIN
Management Analyst
2965 Roosevelt St., Ste. B • Carlsbad, CA 92008-2389 • (760) 434-2810/2811 • FAX (760) 720-2037 ^
NOVEMBER 19, 2002
TO: HOUSING POLICY TEAM
FROM: Management Analyst, Redevelopment Department
FINANCIAL ASSISTANCE REQUEST FOR LAGUNA POINT
Background
The process and methodology for evaluating cases where economic assistance has been
requested for a project in the Village Redevelopment Area is set forth in Housing and
Redevelopment Commission Policy No. 5 (see attached). As stated in Policy No. 5, it is the
intent of the Housing and Redevelopment Commission that applicants have an early
opportunity for a review of their proposal for compliance with the policy. In that regard, it is
the role of the Housing Policy Team, acting as the Redevelopment Assistance Review
Committee, to review requests for economic assistance within the Redevelopment Area and
prepare a recommendation to the Housing and Redevelopment Commission.
On April 9, 2002 the Housing and Redevelopment Commission conditionally approved a
major redevelopment permit and tentative tract map for a 21-unit condominium project known
as Laguna Point. At the time the project was presented to the Housing and Redevelopment
Commission, the Commission was informed the applicant would be returning with a request
for financial assistance to help offset the cost of providing three (3) for-sale low-income
housing units within the project. The applicant has prepared a Proforma for the project, which
is being forwarded to the Housing Policy Team for review and recommendation to the
Housing and Redevelopment Commission.
Proiect Description
The 1.15 acre site is located on the south side of Laguna Drive between Roosevelt Street and
State Street. The project consists of two levels of residential units over a fully enclosed
parking garage. The building was designed as two separate components in order to reduce
the mass of the structure along Laguna Drive. Building A is located on the west side of the
property, at the corner of State Street and Laguna Drive and consists of 10 stacked flats.
Building B is located on the east side of the property at the corner of Roosevelt Street and
Laguna Drive and consists of 9 two-story units. The two buildings are joined by a centralized
entryway, enclosed lobby, office, and elevator at the ground floor. Above the lobby are 2 two-
story units.
The project contains a wide range of units. There are 4 one-bedroom units ranging in size
from 829 to 1,022 square feet, 8 two-bedroom units ranging from 1,442 to 1,657 square feet,
and 9 three-bedroom units from 1,527 to 2,106 square feet. The three affordable units have
one-bedroom and measure 829 square feet.
Inclusionary Housing Requirements
Per Redevelopment Law, 15% of the private housing units constructed within the boundaries
of the Village Redevelopment Area must be affordable to low and moderate income persons,
of which not less than 40% (or 6% of the total units) must be affordable to very low-income
households. Per City Ordinance, 15% of the total housing units must be affordable to low
income households. Developers of housing within the Redevelopment Area must comply with
Housing Policy Team
November 19, 2002
Page No. 2
both the Redevelopment Law and the City Ordinance in terms of the Inclusionary Housing
Requirements.
The three affordable units will satisfy the inclusionary housing requirement for the project.
The applicant is requesting a grant in the amount of $70,000 per unit ($210,000 total) from
the City to assist in providing these units.
Method for Determining Financial Assistance
Housing and Redevelopment Commission Policy No. 5 states that all financial assistance
requests/proposals for private development projects will be considered by the
Agency/Commission according to the following criteria:
A. Economic need for financial assistance demonstrated by the development Proforma and
operating statements for the project.
B. The measure of direct economic public benefits generated by the project. These include:
• The number of jobs created by the project and the benefit of such jobs to the
Area and the City.
• The amount of increased sales, property or transient occupancy tax to be
received by the Area and/or City as a result of the project.
C. Redevelopment benefits which include ways by which the project serves redevelopment
objectives through:
• A specific instance of blight elimination or removal of a blighting influence
demonstrated by the project and the projected effects (aesthetic and fiscal) of
removing such conditions.
• Creation of a use or uses which serve residents as well as visitors to the Area.
• The provision of other benefits to the Area which advance other specific
objectives outlined within the Village Design Manual and Master Plan
Implementation Program for the Redevelopment Area such as creating uses that
are complimentary to others in the Area and serve as catalysts with respect to
other desired development activity.
Discussion of Criteria
Criteria A: The economic need for financial assistance is demonstrated by the Proforma
provided by the applicant. Staff has reviewed the Proforma and finds the figures accurately
depict the development costs for a project of this size. The costs for site work, landscaping,
street improvements, and government agency fees have all been derived by the applicant
after consulting with the appropriate City Departments. However, there is a high level of
uncertainty associated with the estimated sales prices projected by the applicant. The reason
for this is that there have been no comparable projects built or sold in the area to support the
estimated prices. The applicant found one comparable project, the Ocean Pointe
condominium project in South Carisbad, and used the sales figures from that project to derive
the estimated sales figures for this project.
Criteria B: The measure of direct economic public benefits generated by the project is
determined by the amount of property tax to be received by the City as a result of this project.
The proposed project will have a positive impact in terms of increased property tax. The
current assessed value of the project site is around $1.4 million. With the new construction, it
is estimated that the assessed value will increase to approximately $8.5 million. The increase
Housing Policy Team
November 19, 2002
Page No. 3
in value would result in additional tax increment revenue for the Carisbad Redevelopment
Agency of approximately $71,000 per year.
Criteria C: The redevelopment benefits of the project include the elimination of blight and the
creation of a use that is complimentary to other uses in the Redevelopment Area. The
subject property is situated along a highly visible corner at the northern-most entrance to the
Village. Currently, the site contains an existing 6-foot high block wall on the corner of State
Street and Laguna Drive and a chain link fence surrounding the western-most portion of the
property. The eastern-most portion of the property has been plagued by the illegal dumping
of large household appliances and furniture. Development of the proposed project would
provide a highly desirable gateway to the redevelopment area, additional street improvements
along Laguna Drive and Roosevelt Street, and the elimination of a blighting influence on the
surrounding area.
The proposed project constitutes one of the first multi-family for-sale projects in the
Redevelopment Area since it's establishment in 1981. Additionally, it is one of only two newly
constructed residential projects that include affordable housing. The project creates much
needed market rate and affordable housing in the Residential Support Area (District 4), where
the objective is to provide a rich mix of housing types located in close proximity to shops,
restaurants, and the commuter rail station. It is the opinion of the Housing and
Redevelopment Department that the proposed project will serve as a catalyst for other
residential projects in the Area and provide a more diverse demographic base to utilize
neighborhood services, shops, restaurants and public transportation.
Conclusion
Based on the analysis of the above criteria, it appears the proposed project warrants some
level of economic assistance. The Housing Policy Team is being asked to provide a
recommendation to the Housing and Redevelopment Commission on the amount of financial
assistance.
LORI H. ROSENSTEIN
Attachments: Housing and Redevelopment Commission Policy No. 5
Applicant's Proforma
829 Second Street, Suite A
Encinitas, CA 92024
(760) 753»2440
RESORTSIILLC FAX (760) 753.2423
email: wcresort@pacbell.net
WA^CREST
11/4/02
Mr. Craig Ruiz
Housing & Redevelopment
City of Carlsbad
2965 Roosevelt
Carlsbad, Ca 92008
Subject: Laguna Point Financial Assistance
Dear Mr. Ruiz:
We are writing in response to your letter to Christopher Earl dated October
d***, 2002 pertaining to the above referenced project's financial assistance request.
Mr. EarPs partnership has withdrawn from the purchase. However, we wish to
pursue the request on our own behalf.
Mr. Earl has given us his proforma, and we have modified his costs by
reducing the land acquisition cost by $400,000 to $1,725,000. This cost reflects our
cost to date. It does not reflect any lender interest or any return on our capital since
we acquired the two pieces of property, 4 years ago and 1 Vi years ago, respectively.
We modified Mr. EarPs pricing to reflect a 1JQL% proljtabove cost. This
pricing was achieved by estimating a sales price of($282.47 per square ft. and giving
view premiums of $800,000 for the eleven units facihg-ftorih toward the lagoon. To
this figure, we added the estimated $360,000 collective sales revenue for the 3
affordable units and the proposed City subsidy of $210,000. This pricing may be
somewhat optimistic as the best comparable sales we could fmd were in the Ocean
Pointe condominium project in South Carlsbad. A 1450 square ft. unit with no view
in the final sales phase was priced at $379,000 or $261.50 per square ft.
With respect to an affordable housing contribution, we are contributing our
land at cost. An additional contribution to affordable housing is that the cost of the
affordable units is considerably greater than their mandated sales price plus the
proposed subsidy. That difference, we will have to absorb. The aflbrdable units
comprise 7.71% of the project's living area and 14.26% of its parking requirements.
We believe a weighted cost of 9% of the entire project is reasonable, which amounts
to a collective cost of approximately $815,334. With a collective allowable sales
price of approximately $360,000 and a $210,000 City subsidy, there is stili an
additionai $245,334 cost contribution from the developer required.
Regarding your request for an appraisal, enclosed please find a copy of an
appraisal prepared for United California Bank dated 6/25/02. The land value
determined by that appraisal was $2,710,000.
Please contact me if we can provide any additional information.
Bill Canepa
President
11/04/2002 Laguna Point
Proforma
Sales Revenue
18 units-base price
View premiums
3 affordable units
Proposed City subsidy
Total Sales Revenue
8,595,000.00
800,000.00
360,000.00
210,000.00
OJL-
979<«^O0LOO-
Costs
Total acquisition
Total off-site costs
Total on-site costs
Total financing costs
Total Project Costs
Total Project Profit
1,725,000.00
662,372.00
6,242,456.00
429,436.00
9,059,264.00
Citv of Carlsbad
Housing & Redevelopment Department
October 8, 2002
Christopher Eari
Compass Builders
South Pacific Street, Suite A
Oceanside, CA 92054
Subject: Laguna Pointe Financial Assistance
Dear Mr. Eari:
Recently, members of the Housing and Redevelopment Department reviewed your request for
financial assistance for the Laguna Point project. The three proformas that you submitted were
reviewed to determine the level of financial assistance appropriate for the proposed project, and
to determine if the request should be taken forward to the Housing Policy Team for further
consideration.
Previously, the Housing Policy Team reviewed a request for a similar project at this same
location. At that time, the Housing Policy Team was willing to support financial assistance in the
amount of $70,000 per affordable unit. The Housing and Redevelopment Department staff is
willing to support this same assistance level, once the following requested information is
reviewed and approved by staff.
With each previous affordable housing project developed in the City of Carisbad, the developer
of the project has also contributed financially to the project. In each instance, the developer has
contributed the land for the affordable units, plus a direct subsidy (cash). The three proformas
reviewed by staff did not include any type of assistance from the developer. Before the Housing
and Redevelopment Department staff will support City financial assistance, the proposal will
need to be revised to reflect financial participation by the developer. If no developer financial
assistance is to be proposed, a written justification for City financial assistance shall be
provided.
In the proforma, the purchase price of the land is stated as $2,125,000. Recent sales
information reviewed by staff for property in the redevelopment area is somewhat lower than the
purchase price stated in the proforma. When responding to staffs requests for additional
information contained in this letter, please also provide a copy of a recent appraisal conducted
by a qualified appraiser that supports the purchase price stated in the proforma.
2965 Roosevelt St., Ste. B • Carlsbad, CA 92008-2389 • (760) 434-2810/2811 • FAX (760) 720-2037 @
Carlsbad 21
Loguna Point
CA21.0B2I02C
ENTRA HOMES. LLC
Emrt a L*
( 2 3 4 s 20 t J( 7. > 9 13 »0. If. 12 14 15 It 17 tl It PRODUCT PLAN PIAN PL*N PUUI PtAN PON PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN A B C D E E-1 F F-1 G H H-1 J J-1 J-2 J-3 K L M Mix 1 1 1 1 1 1 1 1 2 1 1 3 1 1 1 1 1 1 Square Footage (Unit) 829 848 853 1022 1852 1799 1808 1770 1442 2106 1956 1643 1657 1633 1646 2046 1641 1527 Mix Percentage 3% 3% 3% 3% e% 5% 6% 5% 9% 6% 6% 15% 5% 5% 5% 6% 5% 5% Deck Square Feet 97 97 130 109 185 155 138 153 120 236 234 183 188 181 182 238 137 165 Total Square Feet (Less Deck) 829 848 853 1022 1852 1799 1808 1770 2884 2106 1956 4929 1657 1633 1646 2046 1641 1527 Landscaoe & IHardscape
Sales Price S 120.000 $ 120.000 $ 120.000 S 399.000 $ 570.000 S 599.000 $ 565.000 i 599.000 S 515.000 S 595.000 S 565.000 S 555.000 $ 485.000 $ 485.000 $ 485.000 $ 525,000 S 470.000 $ 475.000 Dollars Per Square Foot S 144.75 i 141.51 $ 140.68 $ 39041 $ 307.78 S 33296 $ 312.50 $ 338.42 S 357.14 $ 282.53 $ 288.85 s 337.80 $ 292.70 $ 297.00 $ 294.65 $ 256.60 $ 28641 $ 311.07 Premiums / (Subsidy) $ % $ J $ $ S $ $ $ $ $ $ $ $ $ X $ Revenue $ 120.000 $ 120.000 $ 120.000 i 399.000 S 570.000 t 599,000 $ 565.000 S 599.000 $1,030,000 s 595.000 S 565.000 $1,665,000 $ 485.000 $ 485.000 $ 485.000 $ 575.000 $ 470.000 $ 475.000
ACQUISITION a OFF SITE COSTS ' I2»»01
Acquisition s 101.190 $ 101.190 $ 101.190 s 101.190 $ 101.190 s 101.190 S 101.190 S 101.190 s 202.381 s 101.190 $ 101.190 $ 303.571 $ 101.190 $ 101.190 $ 101.190 $ 101.190 s 101.190 $ 101.190 Closinq Costs s 253 i 253 253 s 253 s 253 s 253 $ 253 s 253 $ 506 $ 253 $ 253 $ 759 $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 Soils / Geoloqy $ 1.200 i 1.200 $ 1.200 s 1.200 $ 1.200 s 1.200 s 1.200 % 1.200 s 2.400 s 1.200 $ 1.200 $ 3.600 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 Civil Enqinaerinq (Desian & Survevino) $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 s 4.350 $ 4.350 i 4.350 % 8.700 $ 4.350 $ 4.350 } 13.050 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 S 4.350 Bonds S Faes $ 1.721 i 1,721 S 1.721 s 1.721 s 1.721 $ 1.721 $ 1.721 s 1.721 i 3.442 s 1.721 $ 1.721 i 5.163 $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1.721 Rouqti Gradinq $ 3.626 S 3.626 s 3.628 s 3.626 s 3.626 s 3.626 s 3.626 $ 3.626 $ 7.252 $ 3.626 $ 3.626 % 10.878 $ 3.626 $ 3.626 $ 3.626 $ 3.626 $ 3.626 $ 3.626 Street Improvements $ 2,992 i 2.992 s 2.992 s 2.992 s 2.992 $ 2.992 s 2.992 $ 2.992 s 5.984 $ 2.992 s 2.992 $ 8.976 S 2.992 $ 2.992 $ 2.992 $ 2,992 $ 2.992 $ 2.992 Public Underqround Utilities $ 2.706 % 2.706 $ 2.706 $ 2.706 $ 2.706 s 2.706 $ 2.706 s 2,706 $ 5.412 s 2.706 s 2.706 $ 8.118 $ 2.706 $ 2.706 $ 2.706 $ 2.706 $ 2.706 $ 2.706 Landscape & Hardscape $ 11,028 $ 11.028 s 11.028 $ 11.028 s 11.028 s 11.028 $ 11.028 s 11.028 i 22.056 $ 11.028 $ 11.028 $ 33.084 $ 11.028 S 11.028 S 11.028 $ 11.028 $ 11.028 $ 11.028 Utilities to Structure $ 850 $ 850 $ 850 s 850 $ 850 $ 850 $ 850 $ 850 s 1.700 $ 850 $ 850 $ 2.550 $ 850 $ 850 $ 850 $ 850 $ 850 $ 850 Prooertv Taxes s 1,326 s 1.326 s 1.326 s 1.326 s 1.328 s 1.326 s 1.326 s 1.326 $ 2,651 s 1.326 s 1.326 $ 3.977 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 Continaencv s 1,490 $ 1.490 s 1.490 s 1.490 s 1.490 $ 1.490 s 1.490 $ 1.490 $ 2,980 s 1.490 s 1.490 $ 4.470 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 Estimated Total A & Off Site Costs $ 132,732 s 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 s 132.732 $ 132.732 s 265,464 $ 132.732 $ 132.732 $ 398.196 $ 132.732 $ 132.732 s 132.732 $ 132.732 $ 132.732 S 132.732
ON SITE COSTS
1M2 ' 31.542 * 31542 * 31.542 ' 31542 315.2 • 3,542 «30B ' 31542 ' 31542 • ««25 ' 31542 31,542 « 3.542 1 31.542 I 3.542 S 31.542
Parking Structure $ 31,120 $ 31.120 t 31.120 s 31.120 s 31.120 s 31.120 $ 31.120 $ 31.120 s 62,240 $ 31.120 $ 31.120 $ 93.360 $ 31.120 $ 31.120 s 31.120 $ 31.120 $ 31.120 $ 31.120 Residential Structure $ 70.548 $ 72.165 $ 72.590 s 86.972 s 157.605 s 153.095 s 153.861 $ 150.627 $ 245.428 $ 179.221 s 166.456 $ 419.458 $ 141.011 $ 138.968 $ 140.075 $ 174.115 $ 139.649 $ 129.948 Decks $ 2,328 $ 2.328 s 3.120 s 2.816 $ 4.440 X 3.720 $ 3.312 i 3,672 s 5.760 $ 5.664 $ 5.616 $ 13.176 $ 4.512 $ 4.344 $ 4.368 $ 5.712 $ 3.288 $ 3.960
Architecture S 12.750 i 12.750 s 12.750 $ 12.750 $ 12.750 $ 12.750 I 12.750 $ 12.750 $ 25.500 s 12.750 s 12.750 $ 38.250 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 Landscape Architecture $ 1.190 1.190 $ 1.190 i 1.190 i 1.190 $ 1.190 i 1.190 s 1.190 $ 2.380 s 1.190 s 1,190 $ 3.570 $ 1.190 $ 1.190 s 1.190 $ 1,190 $ 1.190 $ 1.190 Legal & Accounting $ 1,000 s 1.000 s 1.000 s 1.000 s 1.000 s 1.000 s 1.000 s 1.000 s 2.000 s 1.000 $ 1,000 $ 3.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 Structural Engineering S 1.400 % 1,400 $ 1.400 $ 1.400 s 1.400 s 1.400 s 1.400 $ 1.400 s 2. BOO s 1.400 $ 1,400 $ 4,200 $ 1.400 $ 1.400 $ 1.400 $ 1.400 $ 1.400 $ 1.400 Mechanical Engineering $ 478 $ 478 s 476 $ 476 s 476 s 476 s 478 s 476 $ 952 s 476 $ 476 $ 1.429 $ 476 $ 476 $ 476 $ 476 $ 476 $ 476 Electrical Engineering $ 476 $ 476 s 476 s 476 s 476 $ 476 s 476 $ 476 s 952 $ 476 $ 476 $ 1.429 $ 476 $ 476 $ 476 $ 476 $ 476 $ 476 Prints , S 290 s 290 $ 290 s 290 s 290 s 290 s 290 $ 290 $ 580 s 290 s 290 $ 870 s 290 $ 290 s 290 $ 290 $ 290 $ 290 Insurance itF % 15.500 s 15.500 s 15.500 s 15.500 $ 15.500 s 15.500 $ 15.500 s 15.500 s 31.000 $ 15.500 $ 15.500 $ 46,500 $ 15.500 $ 15.500 $ 15.500 s 15.500 $ 15.500 $ 15.500 Permits a Impact Fees S 12.518 s 12.805 s 12.880 s 15.432 $ 27.965 % 27.165 s 27.301 s 26.727 $ 43,548 i 31,801 $ 29,536 $ 74,428 $ 25.021 $ 24.858 $ 24.855 $ 30.895 $ 24.779 $ 23.058
School Fees $ 1.774 $ 1.815 $ 1.825 s 2.187 $ 3.963 s 3,850 $ 3.860 $ 3.788 s 6.172 $ 4.507 s 4.186 $ 10.548 $ 3.546 s 3.495 $ 3.522 $ 4.378 $ 3.512 $ 3.268 HOA Reserve $ 2,640 s 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 s 2.640 $ 5.280 s 2.640 s 2.840 7.920 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 Warranty Accrual S 900 $ 900 $ 900 s 2.993 $ 4,275 $ 4,493 s 4.238 s 4.493 s 7.725 s 4.463 $ 4.238 $ 12.488 $ 3.038 $ 3.638 s 3.638 $ 3.938 $ 3.525 $ 3.563
Indirect Construction S 1,989 $ 1.989 S 1.989 $ 1.989 $ 1.989 $ 1,989 $ 1.989 s 1.989 s 3.978 s 1.989 s 1.989 $ 5.967 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 Model Costs S 5,951 $ 5.951 s 5.951 s 5.951 s 5.951 $ 5.951 s 5.951 $ 5.9S1 s 11.902 $ 5.951 $ 5.951 $ 17.853 $ 5.9511 $ 5.951 t 5.951 $ 5.951 $ 5.951 $ 5.951 Model Maintenance S 300 $ 300 s 300 $ 300 s 300 s 300 $ 300 $ 300 $ 600 s 300 $ 300 $ 900 $ 300 $ 300 s 300 $ 300 $ 300 $ 300
Marketinq $ 900 S 900 s 900 s 2,993 s 4.275 s 4.493 s 4.238 s 4.493 s 7.725 s 4.463 $ 4.238 12.488 $ 3.638 $ 3.638 $ 3.638 $ 3.938 $ 3.525 3.563
Sales Commissions $ 5,400 S 5.400 s 5.400 i 17.955 s 25.650 s 26.955 s 25.425 s 26.955 s 46.350 $ 26.775 $ 25.425 $ 74.925 $ 21,825 $ 21.825 s 21.825 s 23.625 $ 21,150 $ 21.375 Closing Costs i 1.320 s 1.320 s 1.320 % 4.388 $ 8.270 s S.S89 s 8.215 i S.S89 $ 11.330 $ 6.545 s 6.215 S 18.315 $ 5.335 $ 5.335 s 5.335 s 5,775 $ 5.170 $ 5.225 General S Administrative $ 10.864 $ 11.006 s 11.112 $ 12.510 $ 18.962 $ 18.523 $ 18.532 s 18.303 $ 31.473 s 20.977 $ 19.836 $ 52.175 $ 17.460 $ 17.267 s 17.366 $ 20.488 $ 17.224 $ 16.438
Contractor Costs S 3.973 s 4.025 s 4.064 s 4.575 s 6.935 s 6.774 s 6.778 s 6.694 s 11.510 s 7.672 $ 7.254 $ 19.081 $ 6.386 $ 6.315 s 6.351 $ 7.493 $ 6.299 $ 6.011 s I24.IM mrai t ia.aw t t41.96B I 21t.T<» 1 2n.»5 1 2ii.ne s 208.110 s 3M.ua 23a.739 , 22C.M7 , SM 7.5 , 1M.545 s 1B7.33t , in.4u s 234.152 1 196.860 s t67J66 Esfimated Tofal On Sife Costs $ 185,608 s 187.746 $ 189.195 $ 227.704 s 335.423 s 330.739 s 328.850 s 327.422 $ 567.186 $ 367.168 $ 348.081 $ 932.328 $ 307.453 $ 304.564 $ 306.054 $ 356.438 $ 303.204 $ 291.490
Estimated Total Off Site Costs S 132,732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 s 132.732 $ 132.732 $ 265.464 s 132.732 s 132.732 $ 398.196 $ 132.732 $ 132.732 $ 132.732 $ 132.732 s 132.732 $ 132.732
Est. Total On 8 Off Sife Costs
Estimated Profit B4 Financing
Costs Less Sales Costs $ 311.620 S 313,757 $ 315.207 $ 338.092 $ 436.235 $ 429,927 $ 429.942 $ 426.610 $ 774.970 S 466.580 $ 449,173 $1,237,284 $ 413,025 $ 410.136 $ 411.626 $ 458.770 $ 409.616 $ 397.622 Construction Loan Amount $ 264.877 $ 266,694 $ 267.926 $ 287.378 $ 370.799 $ 365.438 $ 365.451 $ 362.619 $ 658.725 $ 396.593 $ 381.797 $1,051,691 $ 351.071 $ 348.616 $ 349.882 $ 389,955 $ 348.174 $ 337.978
Cash Required I $ 46.743 I $ 47.064 | $ 47.261 I $ 50.714 | $ 65.435 | $ 64.469 | $ 64.491 | $ 63.992 I $ 116.246 | $ 69.967 | S 67.376 | $ 1B5.593 I S 61.954 | $ 61.520 I $ 61.744 I $ 68.816 I $ 61.442 | $ 59.6431 | $ 1.264.S291 | $ 60.216 I I $ 38.55 I 13.42%|
Origination Fee $ 3.311 $ 3.334 $ 3.349 $ 3.592 $ 4.635 $ 4.568 $ 4.568 $ 4.533 $ 8.234 $ 4.9S7 $ 4.772 $ 13.146 $ 4.388 $ 4.358 $ 4.374 $ 4.874 $ 4.352 $ 4.225 Interest Costs $ 12.913 $ 13.001 $ 13.061 $ 14.010 $ 18.076 $ 17.815 $ 17.816 $ 17.678 $ 32.113 $ 19.334 $ 18.613 $ 51.270 $ 17.115 $ 16.995 $ 17.057 $ 19.010 $ 16.973 $ 16.476 Total Financinq Costs $ 16.224 $ 16.335 $ 16.410 $ 17.602 $ 22,711 $ 22,383 $ 22.384 $ 22,210 $ 40.347 $ 24.291 S 23.385 t 64.416 $ 21.503 $ 21.353 $ 21.430 $ 23.885 $ 21.326 $ 20.701
Tofal Estimafed Costs
PROFIT / (LOSS)
I $ 334.564 I $ 336.812 I $ 338.337 I $ 378.037 I S 490.866 I $ 485,854 I $ 483.966 I $ 482.364 1 $ 872.997 I $ 524.191 I $ 504.198 I $1.394.940 I S 481.688 I $ 458,649 | $ 460.216 I $ 512.055 I $ 457.262 I $ 444.9231 I $ 9.421.9191 I $ 448.663 I I $ 287.20 I 100.00%!
Estimated Pretax Profit $ (214.564) $ (216.812) $ (218,337) $ 20.963 $ 79.134 $ 113.146 $ 81.034 S 116.636 $ 157,003 $ 70,809 $ 60,802 S 270,060 $ 23,312 $ 26.351 $ 24.784 $ 12.945 $ 12.738 $ 30.077
Estimated Pretax Profit Percentaqe -178.80% -180.68% -181 95% 5.25% 13.88% 18.89% 14.34% 1947% 1524% 11.90% 10.76% 16 22% 4 81% 5.43% 5 11% 247% 2.71% 6.33%
21
1562
100%
2928
32806
$ 470.095
$ 300 92
$ $ 9.872.000
/
$ 2.125.000
$ 5.313
$ 25.200
$ 91.350
$ 36.141
$ 76,146
$ 62.832
$ 56.826
$ 231.588
$ 17.850
$ 27.838
$ 31.289
$ 2.787.372
S «ej.372
$ 653.520
$ 2.791.791
$ 81.936
$ 267.750
$ 24,990
$ 21,000
$ 29.400
$ 10.000
$ 10.000
$ 6.090
$ 32S.S00
$ 495.371
$ 70.205
$ 55.440
$ 74.040
$ 41.769
$ 124.971
$ 6.300
$ 74.040
$ 444.240
$ 108,592
$ 350.518
$ 128.189
$ 6.195.851
$ 2.787.372
$ 8.983.022
$ 888.978
$ 8.430.190
$ 7.165.662
$ 1.264.529
$ 89.571
$ 349.326
$ 438.897
s 9.421.919
$ 450,081
4.56%
64.77 22.55%
P€RCENT OF
TOTAL
COSTS
$ 84.97
I $ 427.763 I
I $ 42.332 I I $ 27.10 I
2.84%
0.27%
1.33%
007%
3.72%
1.36%
I $ 273.82 I 95.34%!
I S 21.432 I I $ 13.72 I 4.78%|
9/23/2002 9:50 AM
Carlsbad 21
Laguna Point
CA2i-as22a2e
ENTRA HOMES. LLC
Earl t Lm Conatnietfon Com.
PRODUCT
Mix
1 2 3 4 s 20 1 2t 7. « • 13 fO. 11.12 14 IS 16 17 i< 19
PRODUCT
Mix
PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PRODUCT
Mix
A 8 C D E E-1 F F - 1 G H H-1 J J-1 J-2 J-3 K L M
PRODUCT
Mix 1 1 1 1 1 1 1 1 2 1 1 3 1 1 1 1 1 1
Squara Footage (Unit) 829 848 853 1022 1852 1-799 1808 1770 1442 2106 1956 1643 1657 1633 1646 2046 1641 1527
Mix Percentaqe 3% 3% 3% 3% 6% 5% 6% 5% 9% 6% 6% 15% 5% 5% 5% 6% 5% 5%
Deck Squara Feet 97 97 130 109 185 155 138 153 120 236 234 183 188 181 182 238 137 165
Total Sauare Feel (Less Deck) 829 848 853 1022 1852 1799 1808 1770 2884 2106 1956 4029 1657 1633 1646 2046 1641 1527
Landscape & Hardscape
Sales Price $ 120.000 $ 120.000 S 120.000 $ 399.000 $ 570.000 $ 599.000 $ 565.000 $ 599.000 $ 515.000 $ 595.000 $ 565.000 $ 555.000 $ 485.000 $ 485.000 $ 485,000 $ 525.000 $ 470.000 $ 475.000
Dollars Per Square Foot $ 144.75 $ 141.51 $ 140.68 $ 390.41 $ 307.78 $ 332.96 $ 31250 $ 338.42 $ 357.14 $ 282.53 $ 288.85 $ 337.80 $ 292.70 $ 297.00 $ 294.65 $ 256.60 $ 286.41 $ 311.07
Premiums / (Subsidy) $ 175.000 $ 175.000 $ 175.000 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Revenue $ 295.000 $ 295.000 $ 295.000 $ 399.000 $ 570.000 $ 599.000 $ 565.000 $ 599.000 $1,030,000 $ 595.000 $ 565,000 $1,665,000 $ 485.000 $ 485.000 $ 485.000 $ 525.000 $ 470.000 $ 475.000
ACQUISITION & OFF SITE COSTS
Acquisition $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 202.381 S 101.190 $ 101.190 $ 303.571 $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 101.190 $ 101.190
Closing Costs $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 $ 506 $ 253 $ 253 $ 759 $ 253 $ 253 $ 253 $ 253 $ 253 $ 253
Soils / Geology $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 2.400 $ 1.200 $ 1.200 $ 3.600 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200
Civil Engineering (Design & Surveying) $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 8.700 $ 4.350 $ 4.350 $ 13.050 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350
Bonds & Fees $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1.721 S 1.721 $ 1.721 $ 3.442 $ 1.721 $ 1.721 $ 5.163 $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1.721
Rough Grading $ 3,626 $ 3.626 $ 3.628 $ 3.626 $ 3.826 $ 3.626 $ 3.826 $ 3.626 $ 7.252 $ 3.626 $ 3.626 $ 10.878 $ 3.626 $ 3.626 $ 3.626 $ 3.626 $ 3.626 $ 3.626
Street Improvements $ 2,992 $ 2.992 $ 2.992 $ 2.992 $ 2.992 $ 2.992 S 2.992 $ 2.992 $ 5.984 $ 2.992 $ 2.992 $ 8.976 $ 2.992 $ 2.992 $ 2.992 $ 2.992 $ 2.992 $ 2.992
Public Underground Utilities $ 2.706 $ 2.706 $ 2.706 $ 2,706 $ 2.706 $ 2.706 $ 2.706 $ 2.706 $ 5.412 $ 2.706 $ 2.706 $ 8.118 $ 2.706 $ 2.706 $ 2.706 $ 2.706 $ 2.706 $ 2.706
Landscape & Hardscape $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 22.056 $ 11.028 $ 11.028 $ 33.084 $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 11.028 $ 11.028
Utilitiet to Structure $ 850 $ 850 $ 850 $ 850 $ 850 $ 850 $ 850 $ 850 $ 1.700 $ 850 $ 850 $ 2.550 $ 850 $ 850 $ 850 $ 850 $ 850 $ 850
Property Taxes $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 2.651 $ 1.326 $ 1.326 $ 3.977 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1.326
Continaency $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 2.980 $ 1.490 1.490 $ 4.470 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1.490
Estimated Total A. & Off Site Costs $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 265.464 $ 132.732 $ 132.732 $ 398.196 $ 132.732 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732
ON SITE COSTS
Parking Structure $ 31,120 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 62.240 $ 31.120 $ 31.120 $ 93.360 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 31.120
Residential Structure $ 70,548 $ 72.165 $ 72.590 $ 86.972 $ 157.605 $ 153.095 $ 153.861 $ 150.627 $ 245.428 $ 179.221 $ 166.456 $ 419.458 $ 141.011 $ 138.968 $ 140.075 $ 174.115 $ 139.649 $ 129.948
Decks $ 2.328 $ 2.328 $ 3.120 $ 2.618 $ 4.440 $ 3.720 $ 3.312 $ 3.672 $ 5.760 $ 5.664 $ 5.616 $ 13.176 $ 4.512 $ 4.344 $ 4.368 $ 5.712 $ 3.288 $ 3.960
Est. Total On 4 Off Site Costs
Estimated Profit B4 Financing
Architecture $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 25.500 $ 12.750 $ 12.750 $ 38.250 $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 1Z7S0 $ 12.750
Landscape Architecture $ 1.190 * 1.190 $ 1,190 $ 1.190 ^ 1,190 $ 1.190 $ 1.190 $ 1.190 $ 2.380 $ 1.190 $ 1.190 $ 3.570 $ 1.190 $ 1.190 $ 1.190 $ 1.190 $ 1.190 $ 1.190
Legal & Accounfing $ 1,000 $ 1.000 $ 1.000 $ 1.000 $ l.OOO $ 1.000 $ 1.000 $ 1.000 $ 2.000 $ 1.000 $ 1.000 s 3,000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ l.OOO
Structural Engineering $ 1.400 S 1.400 $ 1,400 $ 1.400 $ 1.400 $ 1.400 $ 1.400 $ 1.400 $ 2.800 $ 1.400 $ 1.400 $ 4,200 $ 1.400 1.400 $ 1.400 $ 1.400 $ 1.400 $ 1.400
Mechanical Engineering $ 476 $ 476 $ 476 $ 476 $ 476 $ 476 $ 478 $ 476 $ 952 $ 476 $ 476 $ 1.429 $ 476 476 $ 476 $ 476 $ 476 $ 476
Electrical Engineering $ 476 $ 476 $ 476 $ 476 $ 476 $ 476 $ 478 $ 476 $ 952 $ 476 $ 476 $ 1.429 $ 476 $ 476 476 ? 476 $ 476 $ 476 Prints $ 290 i 290 $ 290 $ 290 $ 290 $ 290 $ 290 $ 290 $ 580 $ 290 $ 290 $ 870 $ 290 $ 290 $ 290 $ 290 $ 290 $ 290
Insurance $ 15.500 s 15,500 $ 15.500 $ 15,500 $ 15.500 $ 15.500 $ 15.500 $ 15.500 $ 31.000 $ 15.500 $ 15.500 $ 46.500 $ 15.500 $ 15.500 $ 15.500 $ 15.500 $ 15.500 $ 15,500
Permits & Impact Fees $ 12.518 $ 12.805 $ 12.880 $ 15.432 $ 27.965 $ 27.165 $ 27.301 $ 26.727 $ 43.548 $ 31.801 $ 29.536 $ 74.428 $ 25.021 $ 24.658 $ 24.855 $ 30.895 $ 24.779 $ 23.058
School Fees $ 1.774 $ 1.815 $ 1.825 ^ 2.187 $ 3.963 $ 3.850 $ 3.869 $ 3.788 $ 6.172 $ 4.507 $ 4.186 $ 10.548 $ 3.546 $ 3.495 $ 3.522 $ 4,378 $ 3.512 $ 3.268
HOA Reserve $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 5.280 $ 2.640 $ 2.640 $ 7.920 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640
Warranty Accrual $ 2.213 $ 2.213 $ 2.213 $ 2.993 $ 4.275 $ 4.493 $ 4.238 $ 4,493 $ 7.725 $ 4.463 $ 4.238 $ 12.488 $ 3.638 $ 3.638 $ 3.638 $ 3.938 $ 3.525 S 3.563
Indirect Construction $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 3.978 $ 1.989 $ 1.989 $ 5.967 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1,989 $ 1.989
Model Costs $ 5.951 $ 5.951 $ 5.951 $ 5.951 $ 5.951 $ 5.951 $ 5.951 $ 5.951 $ 11.902 $ 5.951 $ 5.951 $ 17.853 $ 5.951 $ 5.951 $ 5.951 $ 5.951 $ 5,951 $ 5.951
Model Maintenance $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 600 $ 300 $ 300 $ 900 $ 300 $ 300 300 $ 300 $ 300 $ 300
Marketing $ 2.213 $ 2.213 $ 2.213 $ 2.993 $ 4.275 $ 4.493 $ 4.238 $ 4.493 $ 7.725 $ 4.463 $ 4.238 $ 12.486 $ 3.636 $ 3.638 $ 3.638 $ 3.93S $ 3.525 $ 3.563
Sates Commissions $ 13.275 $ 13.275 $ 13.275 $ 17.955 $ 25.650 $ 26.955 $ 25.425 $ 26.955 $ 46.350 $ 26.775 $ 25.425 $ 74.925 $ 21.825 $ 21.825 $ 21.825 $ 23.625 $ 21.150 $ 21.375
Closing Costs S 3.245 $ 3.245 $ 3.245 $ 4.389 $ 6.270 $ 6.589 $ 6.215 $ 6.589 $ 11.330 $ 6.545 $ 6.215 $ 18.315 $ 5.335 $ 5.335 $ 5.335 $ 5.775 $ 5.170 $ 5.225
General & Administrative $ 10.979 $ 11.121 $ 11.227 $ 12.510 $ 18.962 $ 18.523 $ 18.532 $ 18.303 $ 31.473 $ 20.977 $ 19.836 $ 52.175 $ 17.460 $ 17.267 $ 17.366 $ 20.488 $ 17.224 $ 16.438
Contractor Costs $ 4.015 $ 4,067 $ 4.106 $ 4.575 $ 6.935 $ 6.774 $ 6.778 $ 6.694 $ 11.510 $ 7.672 $ 7.254 $ 19.081 ? 6.386 $ 6.315 $ 6.351 $ 7.493 $ 6.299 $ 6.011
t 126.47I < i7r.on I .26.311 1 142J66 f 216.706 s 2.1606 1 3.1.716 t 20.160 1 396.666 < 236.736 t 236.667 1 9663*5 S mow 1 .07.336 1 n*.466 I 234.152 S .66.690 6 167.696
Estimated Total On Site Costs $ 198.190 $ 200.327 $ 201.777 $ 227.704 $ 335.423 $ 330.739 $ 328.850 $ 327.422 $ 567.186 $ 367.168 $ 348.081 $ 932,328 $ 307.453 $ 304.564 $ 306.054 $ 355.438 $ 303.204 $ 291.490
Estimated Total Off Site Costs $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 265.464 $ 132.732 $ 132.732 $ 398.196 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732 $ 132.732
$ 2.125.000
$ 5.313
$ 25.200
$ 91.350
$ 36.141
$ 76.146
$ 62.832
$ 56.826
$ 231.588
$ 17.850
$ 27.838
$ 31.289
$ 2.787.372
$ 653.520
$ 2.791.791
$ 81.936
$ 267.750
$ 24.990
$ 21.000
$ 29.400
$ 10.000
? 10.000
$ 6.090
$ 325.500
$ 495.371
$ 70.205
$ 55.440
$ 77.978
$ 41.769
$ 124.971
$ 6.300
$ 77.978
$ 467.865
$ 114.367
$ 350.862
$ 128.315
COSTS
PER
UNIT
$ 12.750
$ 1.190
$ 1.000
$ 1.400
$ 476
$ 476
$ 290
$ 15.500
$ 23.589
$ 3.343
$ 2.640
$ 3.713
$ 1,989
$ 5.951
$ 300
$ 3.713
$ 22.279
$ 5.446
$ 16.708
$ 6.110
FINANCING
Costs Less Sales Costs $ 314.402 $ 316.539 $ 317.989 $ 338.092 $ 436.235 $ 429.927 $ 429.942 $ 426.610 $ 774.970 $ 466.580 $ 449.173 $1,237,284 $ 413.025 $ 410.136 $ 411.626 $ 458.770 $ 409.616 $ 397.622
Construction Loan Amount $ 267.241 $ 269.058 $ 270.290 $ 287.378 $ 370.799 $ 365438 $ 365.451 $ 362.619 $ 658.725 $ 396.593 $ 381.797 $1,051,691 $ 351.071 $ 348.616 $ 349.882 $ 389.955 $ 348.174 $ 337.978
$ 8.438.536
$ 7.172.755
Cash Required
Origination Fee $ 3.341 $ 3.363 $ 3.379 $ 3.592 $ 4.635 $ 4.568 $ 4.568 $ 4.533 $ 8.234 $ 4.957 $ 4.772 $ 13.146 $ 4.388 $ 4.358 $ 4.374 $ 4.874 $ 4.352 $ 4.225 Interest Costs $ 13.028 $ 13.117 $ 13.177 $ 14.010 $ 18.076 $ 17.815 $ 17.816 $ 17.678 $ 32.113 $ 19.334 $ 18.613 $ 51.270 $ 17.115 $ 16.995 $ 17.057 $ 19.010 $ 18.973 $ 16.476
Total Financinq Costs $ 16.369 $ 16.480 $ 16,555 $ 17.602 $ 22.711 $ 22.383 $ 22.384 $ 22.210 $ 40.347 $ 24.291 S 23.385 $ 64.416 $ 21.503 $ 21.353 $ 21.430 $ 23.885 $ 21.326 $ 20.701
COSTS PERCENT OF
PER TOTAL
so. FT. COSTS
$ 64.77 22.48%
$ 0.16 0.06%
$ 0.77 0.27%
$ 2.78 0.97%
$ 1.10 0.38%
$ 2.32 0.80%
$ 1.92 0.66%
$ 173 0.60%
$ 7.06 2.45%
$ 0.54 0.19%
$ 0.85 0.29%
$ 0.95 0.33%
i 84 97 29.46%
S 2019
$ 32.50 6.91%
$ 85.10 29.51%
$ 27.98 0.87%
$ 8.16 2.83%
? 0.76 0.26%
$ 0.64 0.22%
$ 0.90 0.31%
$ 0.30 0.11%
$ 0.30 0.11%
$ 0.19 0.06%
$ 9.92 3.44%
$ 15.10 5.24%
s 2.14 0.74%
$ 1.69 0.59%
S 2.38 0.82%
$ 1.27 0.44%
$ 3.81 1.32%
0.19 0.07%
s 2.38 0.82%
$ 14.26 4.95%
s 3.49 1.21%
$ 10.70 3.71%
s 3.91 1.36%
330.922 I $ 333.059 I $ 334.509 I $ 360.436 I $ 468.155 I $ 463.471 I $ 461.582 I $ 460.154 I $ 832.650 I $ 499.900 I $ 480.813 I $1.330.524 I $ 440.185 I $ 437.296 I $ 438.786 I $ 488.170 I $ 435.936 I $ 424.222 I I $ 9.020.768 I I $ 429.5601 I $ 274.97 I 9536%!
(35.922)1 $ (38.059)1 $ (39.509)1 $ 38.564 I $ 101.845 I $ 135.529 I $ 103.418 I $ 138.846 I $ 197.350 I $ 95.100 I $ 84.187 I $ 334.476 I $ 44.815 I $ 47.704 I $ 46.214 I $ 36.830 I $ 34.064 | $ 50.778 I I $ 1.376.2321 I t 65.535 ] I $ 41.95 I 14.55%!
$ 257.23 89.20%
$ 218.84 75.82%
1$ 47,160 1$ 47.4811$ 47.698 1$ 50.714 1$ 65435 1$ 64.469 1$ 64.491 1 $ 63.992 1$ 116.246 1$ 69.967 1 $ 67.376 1$ 185593 1$ 61.954 1$ 61.520 1$ 61.744 1$ 68.816 1$ 61.442 1$ 59.6431 I $ 1.265.780l I $ 60.275 1 I $ 38.58 I 13.38%!
$ 2.73 0.95%
$ 10.66 3.70%
$ 13.39 4.64%
Total Estimated Costs
PROFIT / (LOSS)
I $ 347.290 ! $ 349.539 ! $ 351.064 ! $ 378.037 j $ 490.866 ! $ 485.654 ! $ 483.966 I $ 482.364 I $ 872.997 I $ 524.191 1 $ 504.198 I $1.394.940 ! $ 461.688 I $ 458.649 I $ 460.216 I $ 512.055 ! $ 457.262 I $ 444.9231 I $ 9.460.0991 I $ 450.461 1 j $ 288.36 I 100.00%!
Estimated Pretax Profit $ (52.290) $ (54.539) $ (56.064) $ 20.963 $ 79.134 $ 113.146 $ 81.034 $ 116.636 $ 157.003 $ 70.809 $ 60.802 $ 270.060 $ 23.312 $ 26.351 $ 24.784 $ 12.945 $ 12.738 $ 30.077
Estimafed Pretax Profit Percentaqe -17.73% -18.49% -19 00% 5.25% 13.88% 18.89% 14.34% 19.47% 15 24% 11.90% 10.76% 16.22% 4.81% 543% 511% 2.47% 271% 6.33%
9/23/2002 9:50 AM
Carlsbad 21
Loguno Poirit'
CA21 •09230: e
ENTRA HOMES. LLC
Etrt a Lane Conalruclfan Com.
1 2 3 4 s 29 « 2) 7. » 9 f3 10. 11. 12 14 li It (7 It f9 PRODUCT PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN PLAN
A B C D E E-1 F F-1 G H H-1 J J-1 J-2 J-3 K L M Mix 1 1 1 1 1 1 1 1 2 1 1 3 1 1 1 1 1 1 Square Footaqe (Unit) 829 848 853 1022 1852 1799 1808 1770 1442 2106 1956 1643 1657 1633 1646 2046 1641 1527 Mix Percentaqe 3% 3% 3% 3% 6% 5% 6% 5% 9% 6% 6% 15% 5% 5% 5% 6% 5% 5% Deck Square Feet 97 97 130 109 185 155 138 153 120 236 234 183 188 181 182 238 137 165 Total Square Feet (Less Deck) 829 848 853 1022 1852 1799 1808 1770 2884 2106 1956 4929 1857 1633 1646 2046 1641 1527 Landscape 8> Hardscape
Sales Price $ 120.000 $ 120.000 $ 120.000 $ 399.000 $ 570.000 $ 599.000 $ 565.000 X 599.000 $ 515.000 X 595.000 X 565.000 $ 555000 X 485.000 X 485.000 X 485.000 $ 525.000 X 470.000 X 475.000 Dollars Per Sguare Foot $ 144.75 $ 141.51 $ 140.68 $ 390.41 $ 307.78 $ 33296 $ 312.50 X 338.42 $ 357.14 $ 282.53 X 288.85 $ 337.80 $ 292.70 X 297.00 X 294.65 X 256 SO X 286.41 s 311 07 Premiums / (Subsidy) $ 217.000 $ 217.000 $ 217.000 $ $ $ $ X $ $ $ $ X X X $ X $ Revenue $ 337.000 $ 337.000 $ 337.000 $ 399.000 $ 570.000 $ 599,000 $ 565.000 X 599.000 $1,030,000 $ 595.000 $ 565.000 $1,665,000 X 485.000 X 485.000 $ 485000 $ 525 000 X 470.000 $ 475 000
ACQUISITION a OFF SITE COSTS « I26.9601
Acquisition $ 101.190 $ 101,190 $ 101.190 $ 101.190 $ 101.190 $ 101,190 $ 101.190 $ 101,190 $ 202.381 $ 101.190 $ 101.190 $ 303.571 X 101,190 X 101.190 $ 101.190 $ 101.190 X 101.190 X 101.190 Closinq Costs $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 $ 253 $ 506 $ 253 $ 253 $ 759 X 253 X 253 $ 253 $ 253 X 253 X 253 Soils / Geology $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1,200 $ 2.400 $ 1.200 $ 1.200 $ 3.600 I 1.200 X 1.200 $ 1.200 $ 1.200 X 1.200 X 1.200 Civil Engineering (Design 4 Sun/evinq) $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4.350 $ 4,350 X 8.700 $ 4.350 $ 4.350 $ 13.050 X 4.350 X 4.350 $ 4.350 4.350 $ 4.350 X 4.350 Bonds & Fees $ 1.721 $ 1,721 $ 1,721 $ 1.721 $ 1.721 $ 1.721 $ 1.721 $ 1,721 X 3.442 $ 1.721 $ 1.721 X 5163 X 1.721 I 1.721 $ 1.721 $ 1.721 $ 1.721 X 1.721 Rough Gradinq $ 3.826 $ 3.626 $ 3,626 $ 3.626 $ 3.626 $ 3.626 $ 3.626 $ 3,626 X 7.252 $ 3.626 $ 3.626 I 10.878 X 3.626 X 3.626 X 3.626 $ 3.626 $ 3.826 X 3.626 Street Improvements $ 2.992 $ 2.992 S 2,992 $ 2.992 $ 2.992 $ 2.992 X 2.992 $ 2,992 X 5.984 $ 2.992 $ 2.992 X 8.976 X 2.992 X 2.992 X 2.992 X 2.992 $ 2.992 X 2.992 Public Underground Utilities $ 2.706 $ 2.706 $ 2,706 $ 2.706 $ 2.706 $ 2.706 $ 2.706 $ 2,706 X 5412 $ 2.706 $ 2.706 X 8.118 X 2.706 X 2.706 I 2.706 X 2.706 $ 2.706 $ 2.706 Landscape & Hardscape $ 11.028 $ 11.028 $ 11,028 $ 11.028 $ 11.028 $ 11,028 X 11.028 $ 11,028 X 22.056 $ 11.028 $ 11.028 X 33.084 $ 11.028 X 11.028 $ 11.028 X 11.028 $ 11.028 $ 11.028 Utilities to Structure $ 850 $ 850 $ 850 $ 850 $ 850 $ 6S0 $ 850 $ 850 X 1.700 $ 850 $ 850 X 2.550 $ 850 X 850 $ 850 X 850 $ 850 $ 850 Property Taxes $ 1.326 $ 1.326 $ 1,326 $ 1.326 $ 1.326 $ 1.326 $ 1.326 $ 1,326 X 2.651 $ 1.326 $ 1.326 X 3.977 $ 1,326 X 1.326 $ 1.326 X 1.326 $ 1.326 X 1.326 Contingency $ 1.490 $ 1.490 $ 1,490 $ 1.490 $ 1.490 $ 1.490 $ 1.490 $ 1,490 X 2.980 $ 1.490 $ 1.490 X 4.470 $ 1.490 X 1.490 X 1.490 X 1.490 $ 1.490 $ 1.490 Estimated Total A. & Off Site Costs $ 132.732 $ 132.732 $ 132,732 $ 132.732 $ 132.732 $ 132,732 $ 132.732 $ 132,732 $ 265.464 $ 132.732 $ 132.732 $ 398.196 $ 132.732 X 132.732 $ 132.732 s 132.732 X 132.732 X 132 732
ON SITE COSTS
.1.542 ' 31.943 ' 31.542 * 31.542 * 31542 9 31.542 ' 31543 • 31.542 ' 63063 ' 31.542 31542 «625 9 3 , 942 9 3, 942 9 3 , 942 9 3 , 542 9 3,9.2 9 31 542
Parking Structure $ 31.120 $ 31.120 % 31,120 $ 31.120 $ 31.120 $ 31.120 $ 31.120 $ 31,120 $ 62.240 $ 31.120 X 31.120 $ 93.360 $ 31.120 X 31.120 X 31.120 X 31.120 X 31.120 $ 31.120 Residential Structure $ 70.548 $ 72.165 $ 72.590 $ 86.972 $ 157.605 $ 153.095 $ 153.861 $ 150,627 $ 245.428 $ 179.221 $ 166.456 $ 419.458 $ 141.011 X 138.968 X 140.075 X 174.115 X 139649 $ 129.948 Decks $ 2.328 $ 2.328 $ 3.120 $ 2.616 $ 4.440 $ 3.720 $ 3.312 $ 3,672 $ 5.760 X 5.664 $ 5618 $ 13.176 X 4.512 X 4.344 $ 4.368 $ 5.712 X 3.288 $ 3960
Architecture Architecture $ 12.750 $ 12.750 $ 12.750 $ 12.750 $ 12.750 X 12.750 $ 12.750 X 12.750 $ 25.500 $ 12.750 $ 12.750 $ 38.250 $ 12.750 $ 12.750 $ 12.750 $ 12.750 X 12.750 $ 12.750 Landscape Architecture $ 1.190 $ 1.190 $ 1.190 $ 1.190 $ 1.190 $ 1.190 $ 1.190 X 1.190 X 2.380 X 1.190 X 1.190 $ 3.570 X 1.190 $ 1.190 X 1.190 X 1.190 X 1.190 $ 1.190 Legal & Accounting $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 X 1.000 $ 2.000 I 1.000 $ 1.000 3.000 X 1.000 $ 1.000 $ 1.000 I 1.000 X 1.000 $ 1.000 Structural Engineering $ 1.400 $ 1.400 $ 1.400 $ 1.400 ^ 1.400 $ 1.400 $ 1.400 X 1.400 X 2.800 X 1.400 $ 1.400 X 4.200 X 1.400 $ 1.400 $ 1.400 1.400 $ 1.400 $ 1.400 Mechanical Engineering $ 476 $ 476 $ 476 $ 476 $ 476 $ 476 $ 476 X 476 X 952 X 476 $ 476 $ 1.429 X 476 X 476 X 476 X 476 X 476 $ 476 Electrical Enqinaerinq $ 476 $ 476 $ 476 $ 476 476 $ 476 X 476 X 476 X 952 X 476 $ 476 $ 1.429 X 476 X 476 I 476 476 X 476 $ 476 Prints $ 290 $ 290 $ 290 $ 290 $ 290 $ 290 X 290 X 290 580 X 290 X 290 $ 870 X 290 X 290 $ 290 X 290 X 290 $ 290 Insurance $ 15.500 $ 15.500 $ 15.500 $ 15.500 $ 15.500 $ 15.500 $ 15.500 X 15.500 X 31.000 $ 15.500 $ 15.500 X 48.500 X 15.500 X 15500 X 15.500 $ 15.500 $ 15500 $ 15.500 PermKs & Impact Fees $ 12.518 $ 12.805 $ 12.880 $ 15.432 $ 27.965 $ 27.155 $ 27.301 X 26.727 $ 43.548 $ 31.801 X 29.536 X 74.428 $ 25.021 X 24.658 X 24.855 X 30.895 $ 24.779 $ 23.058 School Fees $ 1.774 $ 1.815 $ 1.825 $ 2.187 $ 3.963 $ 3.850 $ 3.869 $ 3.788 X 6.172 X 4.507 X 4.186 $ 10.548 $ 3.546 $ 3.495 X 3.522 X 4.378 $ 3.512 $ 3.268 HOA Reserve $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 2.640 $ 5.280 2.640 X 2.640 $ 7.920 $ 2.640 X 2.640 X 2.640 X 2.640 $ 2.640 $ 2.640 Warranty Accrual $ 2.528 $ 2.528 $ 2.528 $ 2.993 $ 4.275 $ 4.493 $ 4.238 $ 4.493 $ 7.725 X 4.463 X 4.238 $ 12.488 $ 3.638 $ 3.638 } 3.638 X 3.R38 X 3.525 X 3 563 Indirect Construction $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 $ 1.989 X 1.989 $ 1.989 $ 3.97B X 1.989 $ 1.989 > 5.967 J 1.989 X 1.989 X 1.989 X 1.989 X 1.989 X 1989 Model Costs $ 5.951 $ 5951 $ 5.951 $ 5.951 $ 5951 $ 5.951 $ 5.951 $ 5.951 $ 11.902 $ 5.951 X 5.951 X 17.853 $ 5.951 $ 5.951 I 5951 I 5,951 $ 5.951 X 5.951 Model Maintenance $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 600 $ 300 $ 300 X 900 $ 300 $ 300 $ 300 X 300 $ 300 X 300 Marketinq $ 2.528 $ 2.528 $ 2.528 2.993 $ 4.275 $ 4.493 4.238 X 4.493 % 7.725 $ 4.463 X 4.238 12.488 $ 3.638 $ 3.638 X 3.638 $ 3.938 $ 3.525 X 3.563 Sales Commissions $ 15.165 $ 15.165 $ 15.165 $ 17.955 $ 25.650 $ 26.955 $ 25.425 I 26,955 $ 46.350 $ 26.775 $ 25.425 X 74.925 X 21.825 $ 21.825 $ 21.825 $ 23.625 $ 21.150 X 21.375 Closing Costs $ 3.707 $ 3.707 3.707 $ 4.389 $ 6.270 $ 6.569 $ 6.215 X 6.589 $ 11.330 X 6.545 $ 6.215 18.315 X 5,335 $ 5.335 $ 5.335 X 5.775 $ 5.170 X 5.225 General & Administrative $ 11.007 $ 11.148 $ 11.255 $ 12.510 $ 18.962 $ 18.523 X 18.532 X 18.303 $ 31.473 X 20.977 $ 19.836 X 52.175 $ 17.460 $ 17.267 $ 17.366 X 20.488 % 17.224 X 16.438 Contractor Costs $ 4.025 $ 4.077 $ 4.116 $ 4.575 $ 6.935 $ 8.774 X 6.778 $ 6.694 $ 11.510 X 7.672 $ 7.254 X 19.081 $ 8.386 X 6.315 $ 6.351 X 7.493 X 6.299 X 6.011
Estimated Total On Site Costs
Estimated Total Off Site Costs
Est. Total On 8, Off Site Costs
Estimated Profit B4 Financing
333.941 I X 336.079 ! X 337.528 ! $ 360.436 ! $ 468.155 ! $ 463.471 ! $ 461.582 ! X 460.154 j X 832.650 ! X 499.900 I X 480.813 ! X1.330.524 I X 440.185 I X 437.296 I X 438.786 I $ 486.170 I X 435.936 I X 424.222 I
128J46
X 6,242.455
X 2.787.372
. • • - • - • - • - • - •— . - ^ . ^ . I . ^.z....^^ I . I . ^w..^ I .. ..^...^ I ! $ 9.029.827"I
3.059 ! $ 921 ! $ (528)! $ 38.564 1 X 101.845 ! X 135,529 ! X 103.418 ! X 138.846 I X 197.350 ! X 95.100 I X 84.187 ! X 334.476 I X 44.815 I X 47.704 I X 46.214 I X 36.830 I X 34.064 I X 50.778 I ! X 1.493.1731
Costs Less Sales Costs
Construction Loan /Amount
X 315.069 I $ 317.207 I $ 318.656 I $ 336.092 I $ 436.235 I $ 429.927 I $ 429.942 I $ 426.610 I $ 774.970 I X 466.580 I X 449.173 I X1.237.284 I X 413.025 | X 410.136 I X 411.626 ! X 458.770 I X 409.816 I X 397.622
X 267.809 ! X 269626 1 X 270.858 I X 287.378 ! X 370.799 ! X 365.438 ! X 365.451 ! X 362.619 I X 658.725 I X 396!593 I X 381797 I XI.051.691 I X 351,071 I X 348'616 I X 349'882 I $ 3891955 I $ 348.174 I X 337!978 X 8.440.539
X 7.174.458
COSTS
PER
UNIT
COSTS
PER
SQ. FT.
PERCENT OF
TOTAL
COSTS
Cash Required
Origination Fee X 3.348 X 3.370 $ 3.386 $ 3.592 $ 4.635 $ 4.568 $ 4.568 $ 4.533 $ 8.234 X 4.957 X 4.772 X 13.146 X 4.388 $ 4.358 $ 4.374 X 4.874 X 4.352 X 4.225 Interest Costs $ 13.056 X 13.144 $ 13.204 $ 14.010 $ 18.076 $ 17.815 $ 17.818 $ 17.678 X 32.113 X 19.334 X 18.613 I 51.270 X 17.115 $ 16.995 $ 17.057 X 19.010 X 16.973 X 16.476 Total Financinq Costs $ 16.403 $ 16515 $ 16.590 $ 17.602 $ 22.711 $ 22.363 $ 22.384 $ 22.210 X 40.347 X 24.291 X 23,385 X 64,416 X 21.503 $ 21.353 X 21.430 X 23.885 X 21.326 $ 20.701
Total Estimated Costs Total Estimated Costs $ 350.345 1 $ 352594 ! $ 354.118 ! $ 378.037 ! $ 490.866 ! $ 485 854 ! $ 483.966 ! $ 482.364 ! $ 872.997 I $ 524.191 | $ 504.198 ! $1,394,940 ! $ 461.888 1 $ 458.649 1 $ 460 216 1 $ 512 055 1 $ 457 262 1 $ 444 923
PROFIT / (LOSS)
Estimated Pretax Profit
PROFIT / (LOSS)
Estimated Pretax Profit X (13.345) $ (15594) $ (17.118) $ 20.963 $ 79.134 $ 113.146 $ 81.034 $ 116.636 X 157.003 I 70.809 X 60.802 X 270.060 $ 23.312 $ 26.351 X 24.784 X 12.945 X 12.738 X 30.077 Estimated Pretax Profit Percentaqe -3 96% -4.63% -5.08% 5.25% 13.88% 18.89% 14 34% 1947% 1524% 11.90% 10.76% 16.22% 4.81% 543% 5.11% 2.47% 271% 6.33%
! X 429.992 1 ! $ 275.25 I 95.36%!
X 71.1031 I X 4552 ! 1577%!
!X 47.260 I X 47.581 ! X 47.798 ! X 50.714 ! X 65.435 ! X 84.469 ! X 64.491 I X 63.992 ! X 116.246 ! X 69.987 I X 67.376 I X 185593 I X 61.954 jX 61.520 I X 61.744 I X 68.816 I X 61.442 I X 59.643 1 I X 1.266.081 1 | X 60.290 I ! X 38.59 ! 13.37%!
! $ 9.469.2621 I $ 450.917 I ! $ 288.64 I 100.00%!
$ 1.053,738
10.01%
! $ 50.178 1 ! X 32.12 ! 11.13%!
9/23/2002 9:50 AM
September 18, 2003
TO: BUILDING DEPARTMENT
FROM: Management Analyst, Redevelopment Department
LAGUNA POINT (RP01-08/CT 01-13) APN: 203-101-30,32,33
PLAN CHECK NO. PC030045
I have completed the first plan check for the above referenced project. The Housing
and Redevelopment Commission approved this project on April 9, 2002. The following
conditions of approval must be satisfied prior to the issuance of the building permit:
1. Developer shall submit and obtain final approval of a Final Landscape and Irrigation
Plan showing conformance with the approved Preliminary Landscape Plan and the
City's Landscape Manual. The final landscape plan shall specifv an averaae
minimum 15-trunk height for the palm trees which shall be of varying heights.
Landscape and irrigation plans must be submitted through a separate landscape
plancheck process. Please consult staff at the Planning Counter for further
information.
2. Prior to issuance of the building permit. Developer shall submit to the City a Notice
of Restriction to be filed in the Office of the County Recorder. Housing &
Redevelopment staff will prepare the Notice of Restriction. Developer shall sign and
notarize the Notice and return to the Housing & Redevelopment Department for final
processing.
3. A note shall be added to the lighting plan (Sheets E6 and E7) indicating all exterior
lights are to be designed to reflect downward to avoid any impacts on adjacent
residents or property.
4. Prior to issuance of the building permit, the Developer shall provide the Housing and
Redevelopment Department with a recorded copy of the official CC&Rs that have
been approved by the Department of Real Estate.
5. Prior to the issuance of the building permit, the Developer shall submit to the
Housing and Redevelopment Department a reproducible 24" x 36" mylar copy of the
final site plan for the project.
This information has been entered into Permits Plus. If you have any questions, please
contactine at x2813.
LORI H. ROSENSTEIN
C: Bill Behun, Architect
Bill Canepa, Owner
Larry Black, Landscape Plancheck Consultant