| ( bty )( aty ) |
0% |
10% |
12% |
15% |
18% |
20% |
25% |
| Developer ( )( ) |
|
|
|
|
|
|
|
| Start-up Oper. Losses (exp.) ( 1 167) |
-390020 |
-315642 |
-303541 |
-286772 |
-271485 |
-262031 |
-240659 |
| Equity Residual ( 1 196) |
34266 |
7457 |
5589 |
3662 |
2425 |
1853 |
964 |
| Investment Adj. ( 1 320) |
390020 |
315642 |
303542 |
286772 |
271485 |
262032 |
240659 |
| Net Cash Flow (NCF) ( 1 699) |
10028 |
3426 |
2827 |
2145 |
1650 |
1396 |
941 |
| Subtotal: Developer ( )( ) |
44294 |
10884 |
8416 |
5807 |
4076 |
3250 |
1906 |
| |
|
|
|
|
|
|
|
| Lender ( ****)( ) |
|
|
|
|
|
|
|
| Financing Fees ( 2 158) |
63000 |
57273 |
56250 |
54783 |
53390 |
52500 |
50400 |
| Financing Fees ( 2 158) |
56435 |
51304 |
50388 |
49074 |
47826 |
47029 |
45148 |
| Orig.Mtge(s) ( 2 240) |
-1881156 |
-1710142 |
-1679604 |
-1635788 |
-1594200 |
-1567630 |
-1504925 |
| Mtge Interest ( 2 660) |
2347414 |
1125078 |
995758 |
839800 |
718099 |
651374 |
521195 |
| Mtge Amortization ( 2 670) |
610993 |
238673 |
203606 |
163035 |
132916 |
117068 |
87726 |
| Mtge Amortization ( 2 670) |
1270163 |
276424 |
207191 |
135736 |
89897 |
68700 |
35752 |
| Subtotal: Lender ( ****)( ) |
2466849 |
38610 |
-166411 |
-393361 |
-552072 |
-630959 |
-764704 |
| |
|
|
|
|
|
|
|
| Investor ( 5.5%)( ****) |
|
|
|
|
|
|
|
| Equity Residual ( 3 196) |
3392298 |
738263 |
553357 |
362517 |
240094 |
183482 |
95485 |
| Investment ( 3 310) |
-2384992 |
-1718205 |
-1616976 |
-1480239 |
-1359275 |
-1286273 |
-1126479 |
| Net Cash Flow (NCF) ( 3 699) |
992808 |
339197 |
279838 |
212334 |
163399 |
138225 |
93150 |
| Income Taxes (Const.) ( 3 820) |
1939 |
1763 |
1731 |
1686 |
1643 |
1616 |
1551 |
| Income Taxes (Annual) ( 3 850) |
132860 |
184799 |
183284 |
178376 |
171649 |
166644 |
153555 |
| Inc.Taxes:Equity Residual ( 3 880) |
-814837 |
-177332 |
-132918 |
-87077 |
-57671 |
-44073 |
-22936 |
| Tax Credit ( 3 890) |
3410057 |
1904848 |
1720320 |
1488199 |
1298737 |
1191381 |
974050 |
| Subtotal: Investor ( 5.5%)( ****) |
4730133 |
1273332 |
988636 |
675796 |
458577 |
351002 |
168375 |
| |
|
|
|
|
|
|
|
| Other ( ****)( ) |
|
|
|
|
|
|
|
| Const.Interest ( 4 155) |
560228 |
447045 |
428946 |
404016 |
381443 |
367558 |
336381 |
| Const.Loan ( 4 220) |
|
-398153 |
-452865 |
-523596 |
-582696 |
-616566 |
-685194 |
| Subtotal: Other ( ****)( ) |
560228 |
48891 |
-23919 |
-119580 |
-201253 |
-249008 |
-348814 |
| |
|
|
|
|
|
|
|
| Public ( )( ) |
|
|
|
|
|
|
|
| Income Taxes (Const.) ( 5 820) |
-1939 |
-1763 |
-1731 |
-1686 |
-1643 |
-1616 |
-1551 |
| Income Taxes (Annual) ( 5 850) |
-132860 |
-184799 |
-183284 |
-178376 |
-171649 |
-166644 |
-153555 |
| Inc.Taxes:Equity Residual ( 5 880) |
814837 |
177332 |
132918 |
87077 |
57671 |
44073 |
22936 |
| Tax Credit ( 5 890) |
-3410057 |
-1904848 |
-1720320 |
-1488199 |
-1298737 |
-1191381 |
-974050 |
| Subtotal: Public ( )( ) |
-2730019 |
-1914078 |
-1772417 |
-1581184 |
-1414358 |
-1315568 |
-1106221 |
| |
|
|
|
|
|
|
|
| Secondary Lender ( 2.9%)( ) |
|
|
|
|
|
|
|
| Orig.Mtge(s) ( 6 240) |
-1612503 |
-1465912 |
-1439735 |
-1402177 |
-1366528 |
-1343752 |
-1290002 |
| Mtge Interest ( 6 660) |
555801 |
275451 |
245146 |
208331 |
179355 |
163359 |
131885 |
| Mtge Amortization ( 6 670) |
820600 |
359035 |
312858 |
258239 |
216580 |
194159 |
151416 |
| Mtge Amortization ( 6 670) |
791903 |
172341 |
129176 |
84627 |
56048 |
42832 |
22290 |
| Subtotal: Secondary Lender ( 2.9%)( ) |
555801 |
-659085 |
-752554 |
-850980 |
-914545 |
-943402 |
-984411 |
| |
|
|
|
|
|
|
|
| Underwriter/Syndctr( )( ) |
|
|
|
|
|
|
|
| Financing Fees ( 7 158) |
156018 |
128941 |
124377 |
117972 |
112050 |
108346 |
99852 |
| Credit Enhancement ( 7 641) |
107423 |
55118 |
49221 |
41981 |
36223 |
33022 |
26679 |
| Subtotal: Underwriter/Syndctr( )( ) |
263442 |
184058 |
173598 |
159953 |
148273 |
141368 |
126531 |
| |
|
|
|
|
|
|
|
| Total |
5890727 |
-1017387 |
-1544650 |
-2103549 |
-2471302 |
-2643317 |
-2907338 |
