Turnkey Syndication (+2.5%/yr)

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Turnkey Syndication (+2.5%/yr):Trial 7: Conv.Fin.: 9% LIHTC:$1.2M FAHP

Schedule Z: Development Cash Flow

Annual

	Total	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002
Depr. assets acquired
Land Development	-741153	-741153
Building Cost	-3409478	-3409478
Service structures	-240000	-240000
Architecture & Engineering	-133445	-133445
Elevator/Escalator
Furniture & Equipment
Misc. Administration	-54800	-54800
Dev. Costs Expensed	-5760	-5760
Grants & Reimbursements
Contingency	-227606	-227606
Land	-350000	-350000
Financing Fees	-279127	-123109	-156018
Interest & Financing	-548489	-141646	-165513	-130365	-82757	-28208
Internal Interest
Accounting Transfers	497553	90710	165513	130365	82757	28208
Total	-5492305	-5336287	-156018