TABLE 5 Mark Twain Funding USES
ACTUAL TRANSACTION
PAY FOR SUCCESS
Acquisition Acquisition
$ 21,000,000
$ 21,000,000
Transaction Costs Immediate Repairs
$ 290,000
$ 290,000
Capital Needs Assess
$ 11,000
$ 11,000
Environmental/Phase I
$ 4,000
$ 4,000
Appraisal
$ 16,300
$ 16,300
Survey
$ 6,000
$ 6,000
Historic Consultant
$ 15,000
$ 15,000
Legal
$ 75,000
$ 75,000
Recording and Transfer Tax
$ 100,000
$ 100,000
Title Insurance
$ 35,000
$ 35,000
1st Loan-Lender Origination Fees
$ 163,875
$ 112,125
1st Loan-Lender Other Fees
$ 90,000
$ 90,000
2nd Loan-Lender Origination Fees
$ 78,750
$ 0
Debt Service Reserve (1st & 2nd)
$ 900,000
$ 0
Donation TC Fee
$ 30,000
$ 0
Advisor’s Fees
$ 109,250
$ 109,250
Soft Cost Contingency
$ 25,825
$ 25,825
Total Uses
$ 22,950,000
$21,889,500
SOURCES Debt 1st Mortgage Loan
$ 16,600,000
$14,950,00
2nd Mortgage Loan
$ 5,250,000
$ 0
Sponsor Equity
$ 200,725
$ 200,725
IL Donation Tax Credit Equity
$749,275
$ 0
Seller Donation
$150,000
$150,000
Pay for Success Funds
$ 6,588,775 $ 21,889,500
Total Sources Surplus (GAP)
$ 22,950,000
$ 0
Pay for Success & Affordable Housing | Stefano Rumi 41
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