| Ruggles |
| Affordable |
| Assisted |
| Living |
| Boston, Massachusetts |
|
|
| Introduction |
| The Developers New Communities Services New Atlantic Development Committee to End Elder Homelessness |
| The Resident |
| The Member |
| Audio Tour
|
| The
Numbers
|
 |
 |
| Ruggles Affordable Assisted Living Community. |
The Numbers
(Based on final budget figures.)
| Sources |
|
| Limited Partner Capital Contributions |
$4,152,943
|
| DHCD HOME Loan |
600,000
|
| Accrued Interest — DHCD HOME Loan |
25,556
|
| Federal Home Loan Bank of Boston NCS Loan |
250,000
|
| Accrued Interest — Federal Home Loan Bank of Boston NCS Loan |
1,792
|
| CEDAC Loan |
500,000
|
| Accrued Interest — CEDAC Loan |
23,938
|
| City of Boston Loan |
707,458
|
| Accrued Interest — City of Boston Loan |
38,077
|
| Total Sources |
$6,299,764
|
| Uses | |
| Acquistion: Land |
$44,000
|
| Acquisition: Land |
176,000
|
| Direct Construction |
3,663,115
|
| Furniture and Equipment |
133,302
|
| Architecture & Engineering |
245,973
|
| Environmental Engineer |
11,510
|
| Inspection Engineer |
8,150
|
| Surveys and Permits |
29,246
|
| Legal |
64,088
|
| Title and Recording |
9,004
|
| Accounting & Cost Certification |
41,500
|
| Real Estate Taxes |
12,061
|
| Rent Up & Marketing |
5,645
|
| Insurance |
27,920
|
| Appraisal |
6,500
|
| Clerk of Works |
23,693
|
| Bond Premium |
30,332
|
| Bridge Loan Fees |
29,388
|
| Bridge Loan Interest |
560,942
|
| Tax Credit Allocation Fee (DHCD) |
16,031
|
| Syndication Costs |
22,048
|
| Construction Period Interest |
113,222
|
| Support Services Reserve |
301,961
|
| Operating Deficit Reserve |
277,981
|
| Other Construction Costs |
3,524
|
| Development Overhead |
221,314
|
| Development Fee |
221,314
|
| Total Uses |
$6,299,764
|