|
West River |
|
Homeownership |
|
Campaign |
|
New Haven, |
|
Connecticut |
|
|
| Introduction |
| The Developer |
| Tour the
Site (Video) |
| The Member
|
| The Resident
(Video)
|
| The Numbers |
 |
 |
| First-time home buyer Kimberly Turner and her son on the porch of their multifamily home in the West River neighborhood. Ms. Turner purchased a multifamily home restored by the West River Homeownership Campaign. |
The Numbers
| Sources | |
| Federal Home Loan Bank of Boston Affordable Housing Program Direct Subsidy | $208,994* |
| Bank First Mortgages | 945,000 |
| City of New Haven | 66,000 |
| State Housing Tax Credit Program | 203,400 |
| Total Sources | $1,423,394 |
| Uses | |
| Acquisition | $19,776 |
| Construction/Rehab | 1,084,961* |
| Construction Contingency | 214 |
| Site Work | 109,912 |
| Financing Expenses | 20,256 |
| Developer's Fees | 90,000 |
| Legal Fees | 7,844 |
| Administration Fee | 1,550 |
| Appliances | 13,050 |
| Insurance | 12,710 |
| Marketing | 4,000 |
| Maintenance | 12,569 |
| Security | 2,266 |
| Taxes | 35,189 |
| Title Insurance | 1,193 |
| Utilities | 7,904 |
| Total Uses | $1,423,394 |
| * Please note that $1,006 was repaid from sponsor due to cash back to buyer at closing. |