|
Financing of Project in 1996:
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| • |
Financing of construction was provided by the City of Ontario Redevelopment
Agency, Bank of America, and Edison Capital Housing Investment.
|
|
| • |
Permanent Financing:
|
| |
Residential
|
| |
City of Ontario RDA - Land Purchase
|
$843,000
|
| |
City of Ontario RDA - Residual Receipts Loan
|
$2,656,200
|
| |
Tax Exempt Bonds - Bank of America
|
$2,325,000
|
| |
LIHTC Equity — Edison Capital
|
$1,203,020
|
| |
Deferred Developer Fee
|
$509,880
|
| |
Commercial
|
| |
First Bank and Trust
|
$12,600,000
|
| |
City of Ontario RDA
|
$1,500,000
|
| |
Owner’s Equity
|
$2,000,000
|
|
|
Total
|
$23,637,100
|
|
