Attachment_#7_-_Financial_Application_Workbook.xlsx
XLSX spreadsheet 100 KB Posted
- Solicitation number
- 2027-RFP-00078
- Issued by
- San Mateo County, California
About this file
This is a Financial Application Workbook prepared by the County of San Mateo Department of Housing for the Request for Proposals (RFP) issued on September 3, 2026, for the development of 710 Hamilton Street in Redwood City, California. The workbook is designed to accompany the RFP and requires applicants to complete a comprehensive financial submission detailing project specifics, unit mix, income targeting, development budget, operating projections, and 40-year cashflow analysis. Proposers must complete all yellow-highlighted input cells across multiple tabs including General Application, Unit Mix & Income, Sources & Uses, Operating Budget & Notes, and Cashflow sections. The application workbook does not replace other required RFP documents and must be submitted as a single Excel file (.xlsx) through the designated online application portal using the project's short name as the filename.
The workbook establishes the financial underwriting framework for evaluating affordable housing development proposals on the approximately 20,500-square-foot County-owned parcel. Applicants must detail unit counts and sizes, rental rates at specified AMI levels, utility allowances, rental subsidy structures, and any commercial component income. The Sources & Uses section requires itemization of all development costs including hard costs, soft costs, and reserves, along with identification of all funding sources such as County loan requests, developer equity, conventional debt, and other financing. The Operating Budget section projects annual expenses for administrative, maintenance, utilities, taxes, and insurance categories on a per-unit basis. The Cashflow tab calculates projected revenue, operating expenses, net operating income, debt service coverage ratios, and residual receipts over a 40-year period, with assumptions including 2.5 percent annual rental income growth and 3.5 percent operating expense escalation. An internal leverage ratio calculation serves as a tie-breaker scoring mechanism based on the ratio of non-Trust sources to County loan amounts.
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Instructions
| COUNTY OF SAN MATEO, DEPARTMENT OF HOUSING | |
| REQUEST FOR PROPOSALS — APPLICATION WORKBOOK | |
| PROJECT NAME: | |
| [Project Name Not Yet Entered] | |
| This Application Workbook accompanies the September 3, 2026 County of San Mateo (County) Department of Housing (DOH) Request for Proposals (RFP) For Development of 710 Hamilton St Redwood City, CA. Please consult the RFP and its attachments for full eligibility criteria, underwriting standards, and program guidelines before completing this workbook. | |
| Instructions | |
| 1. Complete every yellow-highlighted input cell on each tab. Gray cells calculate automatically. | |
| 2. Save this workbook using the project's short name as the file name (e.g., "ProjectName_Application_Workbook.xlsx"). | |
| 3. This workbook does NOT replace the separate required documents, as outlined in the RFP. | |
| 4. Upload the completed workbook as a single Excel file (.xlsx) through the designated online application portal. | |
| Workbook Contents | |
| • General Application | |
| • Unit Mix & Income | |
| • Sources & Uses | |
| • Operating Budget & Notes | |
| • Cashflow |
General Application
| COUNTY OF SAN MATEO, DEPARTMENT OF HOUSING | ||
| GENERAL APPLICATION FORM | ||
| Project Information | ||
| Project Name: | ||
| County Loan Request | $ - 0 | |
| Applicant Information | ||
| Applicant Name: |
| Mailing Address: | ||
| Primary Contact Name: | Title: | |
| Phone: | Email: | |
| Current or Prospective Partners: | ||
| Applicant and Project Description | ||
| Describe the applicant entity (type of organization and mission, status of formation, current or prospective partners) and include a brief narrative of the project, including: number of units, financing structure, AMI ranges, description of building and construction typologies, description of community spaces, description of non-residential spaces (if applicable) |
Unit Mix & Income
| COUNTY OF SAN MATEO, DEPARTMENT OF HOUSING |
| UNIT MIX, RENTS & INCOME TARGETING |
| Project Name: | [Project Name Not Yet Entered] | ||||||||||
| Unit Size | Unit Square Footage | # of | |||||||||
| Units | Rent Level (AMI) | Restricted Household AMI | Monthly Rent | Utility | |||||||
| Allowance | Net Monthly Rent | # of Units w/ Rental Subsidy | Per Unit Payment Standard, if applicable | Net Monthly Rental Subsidy | Total Monthly Income | ||||||
| - | - | ||||||||||
| - | - | ||||||||||
| - | - | ||||||||||
| - | - | - | |||||||||
| - | - | - | |||||||||
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| - | - | - | |||||||||
| TOTAL | - | - | - | - |
| Manager's Units | ||||
| Unit Size | # of | |||
| Units | Monthly Rent | Total Monthly Rent (if applicable) |
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Total Units | - | Subtotal Rents | - |
Aggregate Monthly Rents for ALL Units -
Aggregate Annual Rents for ALL Units -
Rent Subsidy Premium
Total Annual Rental Subsidy -
Miscellaneous Income
| Annual Income from Laundry Facilities | |
| Annual Income from Vending Machines | - |
| Annual Interest Income | - |
| Other Annual Income (Specify) | - |
| Total Misc. Income | - |
| Commercial Component |
| Commercial Component Narrative: |
If the project includes a commercial component, the applicant must provide a narrative that includes the following information:
- A description of the proposed commercial use(s) (e.g., retail, office, restaurant)
- The total square footage allocated to commercial space
- The anticipated tenant(s) or tenant type, if known
- How the commercial component will be financed
- How the commercial space will be operated and managed, including responsible party
- How the commercial use is compatible with, and will enhance the overall project (e.g., community benefit, activation of ground-floor space)
- Projected timeline for leasing or occupying the commercial space
| Monthly Rent | |
| Annual Rent | - |
| Lease Term (in years) | |
| Total Annual Commercial Rental Income | - |
Total Annual Commercial Expenses https://www.smcgov.org/housing/income-limits-and-rent-payments Sources & Uses
| COUNTY OF SAN MATEO, DEPARTMENT OF HOUSING |
| DEVELOPMENT BUDGET — SOURCES & USES |
| Project Name: | [Project Name Not Yet Entered] | |||||
| USES OF FUNDS (RESIDENTIAL ONLY) | SOURCES OF FUNDS (RESIDENTIAL ONLY) | |||||
| Total Cost | Per Unit Cost | Total Source | Per Unit Cost | |||
| Capitalized Land Payment (if applicable) | ERROR:#DIV/0! | County Requested Loan Amount | ERROR:#DIV/0! | |||
| Hard Costs | ERROR:#DIV/0! | Developer / Proposer Equity | ERROR:#DIV/0! | |||
| Hard Cost Contingency | ERROR:#DIV/0! | Conventional / Private Permanent Debt (if applicable) | ERROR:#DIV/0! | |||
| Architecture & Engineering | ERROR:#DIV/0! | Deferred Developer Fee | ERROR:#DIV/0! | |||
| Permits & Fees | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Financing Costs (include construction financing costs) | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Legal Fees | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Developer Fee | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Marketing / Lease-Up Costs | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Common Area Furnishings | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Capitalized Reserves | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Other Soft Costs | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Other Use (Specify) | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Other Use (Specify) | ERROR:#DIV/0! | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| TOTAL USES | - | Other Source (Specify):___________________________ | ERROR:#DIV/0! | |||
| Total Development Cost per Unit | ERROR:#DIV/0! | TOTAL SOURCES | - | |||
| County Loan as % of Total Sources | ERROR:#DIV/0! | |||||
| Sources & Uses Balance Check | ||||||
| Total Sources − Total Uses (should equal $0): | - |
Operating Budget + Notes
| COUNTY OF SAN MATEO, DEPARTMENT OF HOUSING | |
| OPERATING BUDGET AND NOTES | |
| Project Name: | [Project Name Not Yet Entered] |
Proposed Budget (Residential Only) Per Unit Per Month Per Unit Per Year Operating Budget Notes
| Administrative Expenses | |||
| Office Salaries | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Emp Benefits & Insurance | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| On-site Manager | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Maintenance Personnel | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Management Fee | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Office Supplies | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Advertising | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Legal | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Audit expense | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Security | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Communication | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Miscellaneous Admin | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Total Administrative Expenses | $ - 0 | ERROR:#DIV/0! | ERROR:#DIV/0! |
| Maintenance Expenses | |||
| Maintenance supplies | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Pest Control | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Repairs Contract | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| HVAC repairs & maintenance | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Landscape Contract | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Interior/exterior painting | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Elevator maintenance | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Interior cleaning | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Misc. Maintenance Expense | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Extra. Maintenance Expense | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| TOTAL MAINTENANCE EXPENSES | $ - 0 | ERROR:#DIV/0! | ERROR:#DIV/0! |
| Utilities Expenses | |||
| Trash removal | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Electricity | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Water/sewer | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Gas | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Other (Specify) | ERROR:#DIV/0! | ERROR:#DIV/0! | |
| Total Utilities Expense | $ - 0 | ERROR:#DIV/0! | ERROR:#DIV/0! |
| Tax & Insurance Expenses | ||||
| Real estate taxes & assessments | ERROR:#DIV/0! | ERROR:#DIV/0! | Include explanation of (any) welfare tax exemption calculation | |
| Licenses & Fees | ERROR:#DIV/0! | ERROR:#DIV/0! | ||
| Property & liability insurance | ERROR:#DIV/0! | ERROR:#DIV/0! | ||
| Other (Specify) | ERROR:#DIV/0! | ERROR:#DIV/0! | ||
| Total Tax & Insurance | $ - 0 | ERROR:#DIV/0! | ERROR:#DIV/0! |
TOTAL OPERATING EXPENSES $ - 0 ERROR:#DIV/0! ERROR:#DIV/0!
| Project Reserves | ||
| Operating Reserves | ERROR:#DIV/0! | ERROR:#DIV/0! |
| Replacement Reserve | ERROR:#DIV/0! | ERROR:#DIV/0! |
| Other (Specify) | ERROR:#DIV/0! | ERROR:#DIV/0! |
TOTAL EXPENSES $ - 0 ERROR:#DIV/0! ERROR:#DIV/0!
Los Angeles County Development Authority Page &P NOFA 29
Cashflow
| COUNTY OF SAN MATEO, DEPARTMENT OF HOUSING | ||||||||||||||||||||||||||||||||||||||||||
| CASHFLOW | ||||||||||||||||||||||||||||||||||||||||||
| Project Name: | [Project Name Not Yet Entered] | |||||||||||||||||||||||||||||||||||||||||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| Project Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | ||
| REVENUE | ||||||||||||||||||||||||||||||||||||||||||
| Gross Potential Rental Income - Residential | 2.50% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Gross Potential Income - Rent Subsidy | 2.50% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Other / Miscellaneous Income | 2.50% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Vacancy Loss - Residential | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Vacancy Loss - Rent Subsidy | 10% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Vacancy Loss - Misc Income | 0% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Effective Gross Income (EGI) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| OPERATING EXPENSES & RESERVES | ||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses - Residential | 3.50% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Real Estate Taxes & Assessments - Residential | 2.00% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Replacement Reserve - Residential | 0.00% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Operating Reserve | 0.00% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Other (Specify) | 0.00% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Expenses & Reserves | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| NET OPERATING INCOME | ||||||||||||||||||||||||||||||||||||||||||
| Net Operating Income (NOI) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| DEBT SERVICE/GROUND LEASE PAYMENT | ||||||||||||||||||||||||||||||||||||||||||
| County Loan Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Ground Lease Payment, if applicable | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Conventional / Private Permanent Debt (if applicable) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Other Mandatory Debt Service (Specify) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| ANNUAL DEBT SERVICE RESIDENTIAL | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Debt Service Coverage Ratio (Residential NOI) | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ERROR:#VALUE! | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| NET CASH FLOW | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| Deferred Developer Fee | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Deferred Developer Fee Balance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| CASH FLOW after Def Developer Fee Pmt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| OPTIONAL, as needed to demonstrate County Return | ||||||||||||||||||||||||||||||||||||||||||
| RESIDUAL RECEIPTS (RR) | ||||||||||||||||||||||||||||||||||||||||||
| Residual Cash Flow Available for Distribution | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| RR County Loan Repayment | 0% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| RR Ground Lease Payment, if applicable | 0% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other Residual Receipts (Specify) | 0% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other Residual Receipts (Specify) | 0% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 0% |
INTERNAL REVIEW
SAN BERNARDINO REGIONAL HOUSING TRUST
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Comment:
@Hilary Carter do we need to ‘lock’ this tab for ‘internal review’?
Reply:
@Daniel Serrano yes. It also needs to be a hidden tab
FOR INTERNAL REVIEW
| Project Name: | [Project Name Not Yet Entered] | ||
| Leverage Ratio (Tie-Breaker — §4.05) | |||
| Total Sources (from Tab 8): | - | ||
| SBRHT Loan (from Tab 8): | - | ||
| Non-Trust Sources: | - | ||
| Leverage Ratio (Non-Trust Sources : SBRHT Loan) | N/A | ||
| Tie-Breaker Points (per §4.05 scale) | N/A | ||
| Tie-breaker scale: ≥10:1 = 10 pts; 7:1–9.99:1 = 7 pts; 4:1–6.99:1 = 4 pts; 2:1–3.99:1 = 2 pts; <2:1 = 0 pts (§4.05). | |||
| Sources and Uses | |||
| SBRHT Loan vs. Maximum Project Loan Amount: | Within Limit | ||
| Hard Cost Contingency Check | ERROR:#REF! |
@Hilary Carter do we need to ‘lock’ this tab for ‘internal review’?
@Daniel Serrano yes. It also needs to be a hidden tab
Underwriting Guidelines
| SAN BERNARDINO REGIONAL HOUSING TRUST | ||
| ATTACHMENT B UNDERWRITING GUIDELINES | ||
| These figures default to Attachment B of the 2026 NOFA and drive formulas on the Pro Forma and Reserves tabs. | ||
| Program Limits | ||
| Maximum Project Loan Amount | $1,850,000 | |
| Maximum Marketing Cost (per unit) | $1,500 | |
| Maximum Common Area Furnishing Cost (per unit) | $1,000 | |
| Maximum Contractor Overhead, Profit & Gen. Req. | 14.0% | |
| Maximum Partnership Management Fee (all partners, per year) | $15,000 | |
| Operating & Escalation Assumptions | ||
| Vacancy Rate Assumption - General Affordable | 5.0% | |
| Vacancy Rate Assumption - Special Needs | 10.0% | |
| Rent Inflation Rate (annual) | 2.5% | |
| Miscellaneous Income Inflation Rate (annual) | 3.0% | |
| Expense Inflation Rate (annual) | 3.5% | |
| Debt Coverage & Reserves | ||
| Minimum Debt Coverage Ratio (DCR) | 1.15 | |
| Maximum Debt Coverage Ratio (DCR) | 1.20 | |
| Replacement Reserve — Non-PSH Units ($/unit/year, no escalation) | $350 | |
| Replacement Reserve — PSH Units ($/unit/year, no escalation) | $500 | |
| Capitalized Operating Subsidy Reserve (COSR) — Years of Support (Min) | 3 | |
| Capitalized Operating Subsidy Reserve (COSR) — Years of Support (Max) | 5 | |
| Construction Contingency — New Construction (Min % of Const. Costs) | 5.0% | |
| Construction Contingency — Rehab/Conversion (Min % of Const. Costs) | 7.5% | |
| Compliance & Fees | ||
| Annual Compliance Monitoring Fee ($/unit/year, base) | $65 | |
| Escalates annually per the Consumer Price Index for the Riverside-San Bernardino-Ontario metropolitan area (All Urban Consumers – All Items). CPI escalation is not modeled automatically in this workbook. | ||
| Affordability & Income | ||
| Maximum Income Limit (% of AMI) | 80% | |
| Minimum Affordability Term (years) | 55 |
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2026 San Bernardino TCAC Rent Limits Hilary Carter: This table must be updated annually
| Studio | 1-br | 2-br | 3-br | 4-br | 5-br | |
| 20% AMI | $ 430 | $ 461 | $ 553 | $ 639 | $ 713 | $ 787 |
| 30% AMI | $ 645 | $ 691 | $ 830 | $ 959 | $ 1,070 | $ 1,181 |
| 35% AMI | $ 753 | $ 807 | $ 968 | $ 1,119 | $ 1,248 | $ 1,378 |
| 40% AMI | $ 861 | $ 922 | $ 1,107 | $ 1,279 | $ 1,427 | $ 1,575 |
| 50% AMI | $ 1,076 | $ 1,153 | $ 1,383 | $ 1,599 | $ 1,783 | $ 1,968 |
| 55% AMI | $ 1,183 | $ 1,268 | $ 1,522 | $ 1,759 | $ 1,962 | $ 2,165 |
| 60% AMI | $ 1,291 | $ 1,383 | $ 1,660 | $ 1,919 | $ 2,140 | $ 2,362 |
| 70% AMI | $ 1,506 | $ 1,614 | $ 1,937 | $ 2,239 | $ 2,497 | $ 2,756 |
| 80% AMI | $ 1,722 | $ 1,845 | $ 2,214 | $ 2,559 | $ 2,854 | $ 3,150 |
| 100% AMI | $ 2,152 | $ 2,306 | $ 2,766 | $ 3,198 | $ 3,566 | $ 3,936 |
| Transposed TCAC Rent Limits (auto updates based on above table, do not adjust) | |||||||||
| Unit Size | 20% | 30% | 35% | 40% | 50% | 55% | 60% | 70% | 80% |
| Studio | 430 | 645 | 753 | 861 | 1076 | 1183 | 1291 | 1506 | 1722 |
| 1-br | 461 | 691 | 807 | 922 | 1153 | 1268 | 1383 | 1614 | 1845 |
| 2-br | 553 | 830 | 968 | 1107 | 1383 | 1522 | 1660 | 1937 | 2214 |
| 3-br | 639 | 959 | 1119 | 1279 | 1599 | 1759 | 1919 | 2239 | 2559 |
| 4-br | 713 | 1070 | 1248 | 1427 | 1783 | 1962 | 2140 | 2497 | 2854 |
| 5-br | 787 | 1181 | 1378 | 1575 | 1968 | 2165 | 2362 | 2756 | 3150 |
| DO NOT ADJUST THIS TABLE | |||
| Helper | Unit Size | AMI | Rent Limit |
| Studio0.2 | Studio | 20% | 430 |
| Studio0.3 | Studio | 30% | 645 |
| Studio0.35 | Studio | 35% | 753 |
| Studio0.4 | Studio | 40% | 861 |
| Studio0.5 | Studio | 50% | 1076 |
| Studio0.55 | Studio | 55% | 1183 |
| Studio0.6 | Studio | 60% | 1291 |
| Studio0.7 | Studio | 70% | 1506 |
| Studio0.8 | Studio | 80% | 1722 |
| 1-Bedroom0.2 | 1-Bedroom | 20% | 461 |
| 1-Bedroom0.3 | 1-Bedroom | 30% | 691 |
| 1-Bedroom0.35 | 1-Bedroom | 35% | 807 |
| 1-Bedroom0.4 | 1-Bedroom | 40% | 922 |
| 1-Bedroom0.5 | 1-Bedroom | 50% | 1153 |
| 1-Bedroom0.55 | 1-Bedroom | 55% | 1268 |
| 1-Bedroom0.6 | 1-Bedroom | 60% | 1383 |
| 1-Bedroom0.7 | 1-Bedroom | 70% | 1614 |
| 1-Bedroom0.8 | 1-Bedroom | 80% | 1845 |
| 2-Bedroom0.2 | 2-Bedroom | 20% | 553 |
| 2-Bedroom0.3 | 2-Bedroom | 30% | 830 |
| 2-Bedroom0.35 | 2-Bedroom | 35% | 968 |
| 2-Bedroom0.4 | 2-Bedroom | 40% | 1107 |
| 2-Bedroom0.5 | 2-Bedroom | 50% | 1383 |
| 2-Bedroom0.55 | 2-Bedroom | 55% | 1522 |
| 2-Bedroom0.6 | 2-Bedroom | 60% | 1660 |
| 2-Bedroom0.7 | 2-Bedroom | 70% | 1937 |
| 2-Bedroom0.8 | 2-Bedroom | 80% | 2214 |
| 3-Bedroom0.2 | 3-Bedroom | 20% | 639 |
| 3-Bedroom0.3 | 3-Bedroom | 30% | 959 |
| 3-Bedroom0.35 | 3-Bedroom | 35% | 1119 |
| 3-Bedroom0.4 | 3-Bedroom | 40% | 1279 |
| 3-Bedroom0.5 | 3-Bedroom | 50% | 1599 |
| 3-Bedroom0.55 | 3-Bedroom | 55% | 1759 |
| 3-Bedroom0.6 | 3-Bedroom | 60% | 1919 |
| 3-Bedroom0.7 | 3-Bedroom | 70% | 2239 |
| 3-Bedroom0.8 | 3-Bedroom | 80% | 2559 |
| 4-Bedroom0.2 | 4-Bedroom | 20% | 713 |
| 4-Bedroom0.3 | 4-Bedroom | 30% | 1070 |
| 4-Bedroom0.35 | 4-Bedroom | 35% | 1248 |
| 4-Bedroom0.4 | 4-Bedroom | 40% | 1427 |
| 4-Bedroom0.5 | 4-Bedroom | 50% | 1783 |
| 4-Bedroom0.55 | 4-Bedroom | 55% | 1962 |
| 4-Bedroom0.6 | 4-Bedroom | 60% | 2140 |
| 4-Bedroom0.7 | 4-Bedroom | 70% | 2497 |
| 4-Bedroom0.8 | 4-Bedroom | 80% | 2854 |
| 5-Bedroom0.2 | 5-Bedroom | 20% | 787 |
| 5-Bedroom0.3 | 5-Bedroom | 30% | 1181 |
| 5-Bedroom0.35 | 5-Bedroom | 35% | 1378 |
| 5-Bedroom0.4 | 5-Bedroom | 40% | 1575 |
| 5-Bedroom0.5 | 5-Bedroom | 50% | 1968 |
| 5-Bedroom0.55 | 5-Bedroom | 55% | 2165 |
| 5-Bedroom0.6 | 5-Bedroom | 60% | 2362 |
| 5-Bedroom0.7 | 5-Bedroom | 70% | 2756 |
| 5-Bedroom0.8 | 5-Bedroom | 80% | 3150 |
| (Select) | |||
| Yes | |||
| No |
https://www.treasurer.ca.gov/sites/default/files/2025-10/income_040125_0.pdfhttps://www.treasurer.ca.gov/sites/default/files/ctcac/2026%20Rent%20Limits%205-1-26%2B%20-%20ADA_0.pdf
File details come from the government source that posted it. Updated .