Professional Documents
Culture Documents
Expenditures
Land Cost ( 87 acres @ 26,000 per acre) $ 2,262,000
Development Costs
Grading $ 210,000
Paving $ 600,000
Storm sewer $ 250,000
Water $ 200,000
Sanitary sewer $ 180,000
Power $ 85,000
Teledata/network $ 160,000
Off-site street improvements $ 506,031
Fees & permits $ 800,000
School fees $ 350,000
Indirect land development $ 300,000
Financing costs ( 2.0% of max loan) $ 73,815
Pursuit/transaction costs $ 156,075
Marketing ( 6.0% of sales) $ 641,160
Administration & contingency ( 6.0% of sales) $ 641,160
Total Development Costs $ 5,153,241
Subtotal $ 7,415,241
Interest Calculation
Equity 50.0% $ 3,707,620
Debt 50.0% $ 3,707,620
Average balance (estimate) 50% $ 1,853,810
Duration (years) 3
Rate 7.5% $ 417,107
Total Expenditures $ 7,832,348
Profit
$ 2,853,652
Source: hempfield Valley Partnership and Charter Homes.
Per Lot
$ 59,367
$ 12,567
$ 28,629
$ 41,196
$ 43,513
$ 15,854
38.5% of total costs
26.7% of total revenue