Apply for Equity – Great Lakes Capital Fund

Fill in each of the fields below. Please make sure to provide information for each required field. You may move between each of the pages and your proposal will not be submitted until you press the "Submit" button on the final page.

Please allow 30 minutes to complete the form. You cannot save the information if you choose to exit the browser.

When entering numeric values, do not use commas.

If you would like a copy of your submission, please print each page once completed with all fields.

A Great Lakes Capital Fund (GLCF) representative will contact you within 10 business days of submission.

Our receipt of your submitted Proforma does not constitute a commitment to your participation in a GLCF fund.

Questions?

For technical questions regarding the proforma and underwriting guidelines, please send an email to techquest@capfund.net.

Step 1: Project Information

Indicates a required field.

For technical questions regarding the proforma and underwriting guidelines, please send an email to techquest@capfund.net.

Next Step: Input

Step 2: Input

Project Name:

RESIDENTIAL RENTAL INCOME ASSUMPTIONS

Market-Rate units must show as "Mrk" in "Income Target (AMI)" column

UNIT DESCRIPTION	Income Target (AMI) %	Number of Bedrooms	Number of Units	Utility Allowance	Net Rent	Unit Square Footage
Total:			8		3750

Project-Based Subsidy Type (Sec 8 / RA)
Termination of Contract Date
2010 OPERATING EXPENSE ASSUMPTIONS		Per Unit
Accounting		0
Legal		0
Total Professional Fees	0
Office Rent and Expenses		0
Payroll and Payroll Taxes		0
Workmen's Comp		0
Misc. Admin. Expenses		0
Total Administrative	0
Gas/Oil		0
Electricity		0
Water/Sewer		0
Other		0
Total Utilities	0
Extermination		0
Trash Removal		0
Security		0
Janitorial Supplies & Salaries		0
Repair Contracts/Work		0
Painting/Decorating		0
Grounds Maintenance		0
Snow Removal		0
Leased Equipment		0
Total Repairs and Maintenance	0
Total Marketing and Leasing		0
Select One: Taxes Tax Abatement		0
Total Insurance		0
Total Property Management Fee		0
Other Management Fee (Must Pay)		0
Investor Services Fee (Must Pay)		1600
Other Fees (Must Pay)		0
Total Other Fees	8000
Misc. Expense		0
Misc. Expense		0
Total Operating Expenses/Unit	Total 8000	Per Unit 1600
RENTAL ASSUMPTIONS:
Vacancy Loss, Year 1	%
Vacancy Loss Years 2-16	%
Replacement Reserve (Annual Per Unit Deposit)
Other Income (Annual)
Other Income (Annual)
County/MSA - Median Income
TAX CREDIT ASSUMPTIONS
Date of Reservation
Year of Credits Allocation:
Tax Credit Rate Lock Date:
	Locked Not Locked
Acquisition Credit Rate:	%
New Construction/Rehab Rate:	%
DDA/QCT Basis Boost	%
Applicable Fraction (% TC Units)	%
Acquisition Credits Projected
New Const/Rehab Credits Projected
Historic Credits?	Yes No
First Payment - Equity Closing	%
Second Payment - 50% Completion	%
Third Payment - 100% Completion	%
Fourth Payment - QO / 8609s	%
Fifth Payment - K-1 & Tax Return	%
Placed in Service Date
Permanent Finance Start Date
Qualified Occupancy (100%) Date
LP Legal Name:
Project Address:
City:
State:	-- Please Select -- Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Zip:
Sponsor Name:
General Partner Name:
Choose Type:	New Rehab Historic
Housing Type:	Family Senior Special Needs

Indicates a required field.

For technical questions regarding the proforma and underwriting guidelines, please send an email to techquest@capfund.net.

Previous: Project Information    Next Step: Sources and Uses of Funds

Step 3: Sources and Uses of Funds

Project Name:

SOURCES AND USES OF FUNDS

TYPE	SOURCES OF FUNDS	Term	Rate %	Amortization	Amount
Hard Debt
Hard Debt
Hard Debt
Soft Debt
Soft Debt
Soft Debt
Other Sources
Other Sources
TOTAL SOURCES OF FUNDS					0

APPLICATION OF FUNDS

ACQUISITION COSTS
Land Purchase Price:
Purchase Price: Existing Buildings
Closing/Title & Recording
Acquisition: Legal Fees & Appraisal
Demolition: Razing of Buildings
Other Acquisition
Other Acquisition
Total Acquisition Costs:	0
CONSTRUCTION/REHABILITATION COSTS
Site Work: Off-Site Improvements/Non-Depreciable
Site Work: On-Site Improvements
Landscaping & Irrigation
Demolition: Interior
New Construction / Rehab: Residential
New Construction: Commercial
New Construction / Rehab Not in Basis: Garages/Carports & Kitchen Equipment
Rehabilitation: Commercial
General Requirements
Builder Overhead
Builder Profit
Payment & Performance Bond and Builder's Risk
Appliances
Furniture, Fixtures and Equipment
Other Construction
Other Construction
Construction Contingency
Total Construction/Rehabilitation Costs:	0
PROFESSIONAL FEES & OTHER SOFT COSTS
Architect Design
Architect Supervision
Engineering
Geotechnical/Soils Engineering
Environmental Study/Soil Testing
Survey (Boundary/Topo/As-Built)
Building Permits
Utility Tap Fees
Impact Fees
Hazard & Liability Insurance (Construction Period)
Utilities--during construction
Real Estate Taxes--during construction
Market Study & Feasibility Study
Appraisal
Accounting/Audit
Cost Certification
Real Estate Attorney
Consultant Fees
Construction Management Fees
Developer Fees
Developer Overhead
Soft Cost Contingency
Other Soft Cost
Other Soft Cost
Total Professional Fees:	0
FINANCING COSTS
Construction Loan Origination Fees/Points
Construction Loan Inspections
Construction Loan Title & Recording
Construction Loan Legal (Bank)
Construction Loan Interest
% of Construction Loan Interest in Basis %
Bridge Loan Expenses (During Construction)
Other Construction Loan Cost:
Other Construction Loan Cost:
Permanent Loan Origination Fees/Points
Permanent Loan Inspections
Permanent Loan Mortgage Insurance (MIP)
Permanent Loan Title & Recording
Permanent Loan Legal (Bank)
Other Permanent Loan Legal
Bond Premium & Cost of Issuance
Loan Credit Enhancement
Letter of Credit Fees
Credit Report
Negative Arbitrage
Other Permanent Loan
Other Permanent Loan
Total Financing Costs:	0
TAX CREDIT & SYNDICATION COSTS
Tax Credit Fees (Application)
Tax Credit Compliance/Monitoring Fees
Organizational Fees (Developer)
Legal Fees (Developer)
Fund Legal/Accounting Report
Other Syndication Costs
Other Syndication Costs
Total Tax Credit & Syndication Costs:	36900
START-UP COSTS, RESERVES & ESCROWS
Marketing/Rent-Up Costs
Other Marketing/Holding Costs
Tenant Relocation (Temporary)
Tenant Relocation (Permanent)
Escrows
Rent Up Reserve
Operating Reserves (Capitalized)
Replacement Reserve (Capitalized)
Other Reserve
Other Reserve
Total Start-Up Costs:	0
TOTAL APPLICATION OF FUNDS	36900
FINANCING GAP/SURPLUS	-36900

Indicates a required field.

For technical questions regarding the proforma and underwriting guidelines, please send an email to techquest@capfund.net.

Previous: Input    Next Step: Completion Lease Up Schedule

Step 4: Completion Lease Up Schedule

SCHEDULE OF LEASE-UP AND TAX CREDITS

Please fill in number of units leased in each month

FIRST YEAR:
January
February
March
April
May
June
July
August
September
October
November
December
SECOND YEAR:
January
February
March
April
May
June
July
August
September
October
November
December
THIRD YEAR:
January
February
March
April
May
June
July
August
September
October
November
December

BUILDING DELIVERY SCHEDULE

Building #	Number of Units	Construction/Rehab Completion Date
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Total:	8

Indicates a required field.

For technical questions regarding the proforma and underwriting guidelines, please send an email to techquest@capfund.net.

Previous: Sources and Uses of Funds    Final Step: Submit

Processing...