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<br />Post Office Box 471 Boulder, Colorado 80307 (303) 441-3929
<br />TDD Colorado Relay 1-800-659-2656
<br />rate, with a faster amortization. Monthly payments are low enough to support viable property operations, and the
<br />shorter amortization means the loan balance to be refinanced in 5-10 years is lower. Wells Fargo has two additional
<br />advantages: no prepayment penalty, and the primary banking relationship with BCHA and LHA, which creates ease of
<br />administration.
<br />
<br />
<br /> Rate Loan Amount
<br />Year 1
<br />Cash
<br />Outlay
<br />Monthly
<br />Payment
<br />DSCR
<br />Year 1
<br />DSCR
<br />Year 10
<br />BCHA
<br />Cash over
<br />10 years
<br />Outstanding
<br />Principal -
<br />Year 5
<br />Outstanding
<br />Principal -
<br />Year 10
<br />1. Current Loan 8.11% $946,376 $0 $8,156 1.04 1.14 $0 $809,630 $611,839
<br />2. US Bank -
<br />Restructure 6.26% $566,376 $380,000 $4,143 2.04 2.25 $431,532 $482,897 $368,831
<br />3. Wells Fargo 3.36% BQTED $1,239,439 $0 $6,112 1.38 1.52 $245,235 $1,067,098 $863,279
<br />4. Wells Fargo 3.65% BQTED $1,239,439 $0 $6,305 1.34 1.48 $222,095 $1,072,844 $872,951
<br />5. FirstBank 3.30% BQTED $1,248,100 $0 $5,466 1.55 1.70 $322,770 $1,115,622 $959,414
<br />6. FirstBank 3.45% BQTED $1,248,100 $0 $5,570 1.52 1.67 $310,335 $1,118,545 $964,636
<br />7. FirstBank 3.50% BQTED $1,242,050 $0 $5,577 1.52 1.67 $309,421 $1,114,082 $961,681
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<br />2. Appointment of Louisville citizen to the Housing and Human Services Advisory Board
<br />
<br />Kelly Campbell was appointed as primary and Ernie Villany as alternate to the Housing and Human Services Advisory
<br />Board. Both have attended meetings of the Board, as have Louisville Deputy City Manager Heather Balser and City of
<br />Louisville Economic Director Aaron DeJong. At the May meeting, Kelly Campbell announced that she will be moving
<br />to Lyons, and will no longer be eligible to sit on the on the Board as the Louisville representative. We have asked her
<br />to continue on the Advisory Board and will work with Mr. Villany to be the official Louisville representative.
<br />
<br />3. Provision of additional 15 units of affordable housing in five years
<br />
<br />Boulder County has purchased 12.86 acres in Louisville located at 245 96th Street and known as the Alkonis property.
<br />The transaction closed March 22, 2013. Boulder County has done preliminary studies to determine that the site is
<br />highly suitable for affordable housing. The site has been selected to be the subject of an intensive charrette at the
<br />Housing Colorado conference in Vail in October. This will be a chance to do some initial outreach to neighbors as
<br />well as analysis on site design and financing. Boulder County and BCHA staff will also be engaged in the small area
<br />planning process lead by the City in 2014, and hope to have permit ready development by 2015.
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