| ( bty )( aty ) |
0% |
10% |
12% |
15% |
18% |
20% |
25% |
| Developer ( )( ) |
|
|
|
|
|
|
|
| Start-up Oper. Losses (exp.) ( 1 167) |
-920874 |
-736009 |
-706218 |
-665075 |
-627717 |
-604688 |
-552843 |
| Equity Residual ( 1 196) |
51017 |
11103 |
8322 |
5452 |
3611 |
2759 |
1436 |
| Investment Adj. ( 1 320) |
920871 |
736007 |
706216 |
665073 |
627716 |
604687 |
552842 |
| Net Cash Flow (NCF) ( 1 699) |
7063 |
2420 |
1999 |
1520 |
1172 |
993 |
671 |
| Subtotal: Developer ( )( ) |
58077 |
13521 |
10319 |
6970 |
4781 |
3751 |
2106 |
| |
|
|
|
|
|
|
|
| Lender ( 8.9%)( ) |
|
|
|
|
|
|
|
| Financing Fees ( 2 158) |
198211 |
180192 |
176974 |
172357 |
167975 |
165176 |
158569 |
| Orig.Mtge(s) ( 2 240) |
-3964215 |
-3603832 |
-3539478 |
-3447143 |
-3359504 |
-3303512 |
-3171372 |
| Mtge Interest ( 2 660) |
4466360 |
2114201 |
1867504 |
1570840 |
1340097 |
1213914 |
968502 |
| Mtge Amortization ( 2 670) |
894368 |
356958 |
305781 |
246329 |
201969 |
178527 |
134882 |
| Mtge Amortization ( 2 670) |
3069847 |
668088 |
500759 |
328058 |
217272 |
166042 |
86409 |
| Subtotal: Lender ( 8.9%)( ) |
4664571 |
-284393 |
-688460 |
-1129559 |
-1432191 |
-1579854 |
-1823010 |
| |
|
|
|
|
|
|
|
| Investor ( 1.0%)( 8.9%) |
|
|
|
|
|
|
|
| Equity Residual ( 3 196) |
5050699 |
1099179 |
823878 |
539742 |
357470 |
273182 |
142165 |
| Investment ( 3 310) |
-5128200 |
-3694478 |
-3476816 |
-3182804 |
-2922707 |
-2765739 |
-2422151 |
| Net Cash Flow (NCF) ( 3 699) |
699214 |
239574 |
197882 |
150443 |
116012 |
98275 |
66446 |
| Income Taxes (Annual) ( 3 850) |
977581 |
627860 |
583326 |
526117 |
478087 |
450171 |
391586 |
| Inc.Taxes:Equity Residual ( 3 880) |
-1188963 |
-258753 |
-193946 |
-127058 |
-84150 |
-64309 |
-33466 |
| Tax Credit ( 3 890) |
3223440 |
1800604 |
1626175 |
1406756 |
1227663 |
1126182 |
920744 |
| Subtotal: Investor ( 1.0%)( 8.9%) |
3633770 |
-186014 |
-439500 |
-686805 |
-827626 |
-882238 |
-934677 |
| |
|
|
|
|
|
|
|
| Other ( ****)( ) |
|
|
|
|
|
|
|
| Const.Interest ( 4 155) |
1116732 |
876894 |
838764 |
786362 |
739047 |
710011 |
645023 |
| Financing Fees ( 4 158) |
333333 |
275482 |
265731 |
252048 |
239395 |
231481 |
213333 |
| Const.Loan ( 4 220) |
|
-838825 |
-954056 |
-1103008 |
-1227451 |
-1298758 |
-1443220 |
| Credit Enhancement ( 4 641) |
706269 |
358554 |
319633 |
271964 |
234159 |
213189 |
171756 |
| Subtotal: Other ( ****)( ) |
2156334 |
672105 |
470072 |
207365 |
-14850 |
-144077 |
-413108 |
| |
|
|
|
|
|
|
|
| Public ( )( ) |
|
|
|
|
|
|
|
| Income Taxes (Annual) ( 5 850) |
-977581 |
-627860 |
-583326 |
-526117 |
-478087 |
-450171 |
-391586 |
| Inc.Taxes:Equity Residual ( 5 880) |
1188963 |
258753 |
193946 |
127058 |
84150 |
64309 |
33466 |
| Tax Credit ( 5 890) |
-3223440 |
-1800604 |
-1626175 |
-1406756 |
-1227663 |
-1126182 |
-920744 |
| Subtotal: Public ( )( ) |
-3012058 |
-2169711 |
-2015555 |
-1805815 |
-1621599 |
-1512045 |
-1278864 |
| |
|
|
|
|
|
|
|
| Secondary Lender( 2.0%)( ) |
|
|
|
|
|
|
|
| Orig.Mtge(s) ( 6 240) |
-2000000 |
-1818182 |
-1785714 |
-1739130 |
-1694915 |
-1666667 |
-1600000 |
| Mtge Interest ( 6 660) |
600000 |
276585 |
243245 |
203387 |
172596 |
155849 |
123496 |
| Mtge Amortization ( 6 670) |
2000000 |
435258 |
326243 |
213730 |
141553 |
108176 |
56295 |
| Subtotal: Secondary Lender( 2.0%)( ) |
600000 |
-1106339 |
-1216226 |
-1322014 |
-1380767 |
-1402642 |
-1420209 |
| |
|
|
|
|
|
|
|
| Total |
8100695 |
-3060831 |
-3879349 |
-4729858 |
-5272251 |
-5517104 |
-5867762 |
