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Sample Pro Forma Single Family Rentals <br />Guide to completing Development and operating pro Formas <br />And Cash Flow Projections <br />A. DEVETOPMENTPROFORMA <br />This worksheet is used to calculate your total deveiopment budget. tt includes all uses offunds for hard andsoft costs as well as sources of funds. From the operating budget worksheet, it carries over the amount of amort8age loan that the project can support, then subtracts the mortgage amount and developer equity byformula to determine the required NSp funding amount. <br />Acquasition Coits <br />ln this version separate lines are shown for land and building costt although these could be combined intoone line item if desired' Soft costs related to acquisition, such as the appraisal and closing costs, should belisted under soft costs. <br />Construstion Costs <br />The amount should be estimated until there is a contract, then the actual contract amount should beentered. Besides the "hard" costs of materials and labor, the contract price will typically include such <br />components as an allowance for the contractor's project-related expenses or "general requirements" suchas building permits, fencing around the site, temporary storage for materials, the contractor,s <br />overhead,/profit, and the cost of a performance bond or letter of credit provided by the contractor to insurethat the project will be completed (if required). This amount should also include site improvements such asexcavation for foundations or utilities, grading of the site, walkways, on-site roads, landscaping outdoorlighting or parking spaces. Estimates of construction costs for singl*family rental rehab projects are usuallycompleted by a rehabilitaticn specialist based on a work write-u j. lf subsiantial rehab or structural repairs <br />are involved, the estimate or a Portion thereof might be created by an architect with input from a engineer.ln the case of single-family rental rehab projects funded by NSP, limited off-site infrastructure costs might beincluded that are crucial to making the home marketable. This could include work repairing contiguous andnearby sidewalks or alleys. <br />lncluding a construction contingency amount outside the construction contract is typical and advisable.ll<rlallv thelmnuntof cnntinsencvfrrndcisnntsharpdwiththecnntraclor-ThecnntinEpnavisrrspdiafrrn,{