By The Greene Groupfiog.usf.edu/cred/data/nf-2016/cred-nf-2016-green-cottages.pdf. dian Renter 2,288 13.0% 6,771 38.5% 5,224 29.7% (4,363) 3,110 1 606 1, 2 $723 785 $724 $1, 710 $1,

By The Greene Group

Jerel WilliamsCEO

Bridgette GreeneCFO

Maurice MartinezCOO/Strategist

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Supply and Demand of Affordable Housing Units

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* According to the American Community Survey distributed by the US Census Bureau in 2015

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• Firefighters

• Teachers

• Law

Enforcement

• First

Responders

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STRENGTHS

(+)WEAKNESSE

S

(–)

OPPORTUNITIES

• Energy Efficiency

RFAs

• Slum and Blight

THREATS

• Zoning

• Utlity Cost Controls

STRENGTHS

• Need

• Low Income Grant

• Under Contract

WEAKNESSES

• Single Rooms

• Utilities

S W

O T

Sources and Uses

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USES COST FUNDING SOURCESPurchase Price 850,000$ Cash Equity 5,835$

Rehab/Construction Costs 210,000$ Grant -$

Developer's Fee 75,000$ Mortgage - 795,165$

Pre-Development & Closing Costs 56,000$ St Johns County 400,000$

1 yr Capital Reserve 10,000$ -$

1,201,000$ 1,201,000$

* Other Funding – St Johns County forgivable loan, with no debt service, to serve 50% of the Area Median Income households

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Rents

Studio - $568

1 Bedroom - $609

2 Bedroom - $731

* Annual Debt Service based on loan at 4.5% rate amortized over 25 years

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Jerel Williams

Ph: 904-495-1554

Email: [email protected]