Gateway Transit Village Residential "For Sale" Component New Brunswick, Middlesex County, New Jersey Construction
Gateway Transit Village Residential "For Sale" Component New Brunswick, Middlesex County, New Jersey Construction Period Flow of Funds Analysis Total Development BASIC ASSUMPTIONS Budget Loan Closing Draw Draw Draw Draw Draw Final Projected #1 #2 #3 #4 #5 Anticipated Transaction Date 6/9/2011 07/15/11 08/15/11 09/15/11 10/15/11 11/15/11 01/00/00 Estimated Financing Rate 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% Monthly Construction Completion Estimate (as percentage) 56.97% 10.00% 7.00% 7.00% 7.00% 8.00% Cumulative Construction Completion Estimate (as percentage) 56.97% 66.97% 73.97% 80.97% 87.97% 95.97% Housing Units Closed 00 0 0 0 0 Housing Units Closed - Cumulative 00 0 0 0 0 Units Sold at TICIC Payoff 00 0 0 0 0 Retainage Percentage 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% Sources of Funds - TICIC Construction Loan 9,028,993 4,525,209 787,624 599,092 530,044 533,841 622,139 TICIC Construction Loan Pay-Off (9,028,993) - - - - - - New Brunswick Parking Authority Funds 3,496,558 3,474,000 New Brunswick Parking Authority Funds - Pay-Off (3,496,557) - DEVCO Line of Credit 600,000 100,000 100,000 100,000 100,000 100,000 DEVCO Line of Credit - Cumulative 100,000 200,000 300,000 400,000 500,000 Sales Proceeds - Total 15,725,654 - - - - - Sales Commission & Selling Costs (943,539) Developer's Profit (1,653,720) Sources (Over)/Under Uses - Unidentified - Total Sources of Funds 13,128,394 7,999,209 887,624 699,092 630,044 633,841 722,139 Uses of Funds - Site Acquisition & Relocation 867,073 867,073 - - - - - Construction: Demolition 37,350 37,350 Residential Structures, incl.
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