| ( bty )( aty ) |
0% |
10% |
12% |
15% |
18% |
20% |
25% |
| Developer( )( ) |
|
|
|
|
|
|
|
| Start-up Oper. Losses (exp.) ( 1 167) |
-3192 |
-2593 |
-2496 |
-2361 |
-2238 |
-2162 |
-1990 |
| Equity Residual ( 1 196) |
173 |
38 |
28 |
18 |
12 |
9 |
5 |
| Investment Adj. ( 1 320) |
-1142 |
-315 |
-210 |
-77 |
30 |
89 |
204 |
| Net Cash Flow (NCF) ( 1 699) |
48 |
18 |
15 |
12 |
9 |
8 |
5 |
| Subtotal: Developer( )( ) |
-4114 |
-2853 |
-2662 |
-2408 |
-2187 |
-2056 |
-1775 |
| |
|
|
|
|
|
|
|
| Lender ( 9.9%)( ) |
|
|
|
|
|
|
|
| Financing Fees ( 2 158) |
1214 |
1103 |
1084 |
1055 |
1028 |
1011 |
971 |
| Orig.Mtge(s) ( 2 240) |
-17337 |
-15761 |
-15479 |
-15076 |
-14692 |
-14447 |
-13870 |
| Mtge Interest ( 2 660) |
21526 |
10163 |
8973 |
7543 |
6432 |
5824 |
4643 |
| Mtge Amortization ( 2 670) |
3583 |
1412 |
1206 |
968 |
791 |
698 |
525 |
| Mtge Amortization ( 2 670) |
13754 |
2993 |
2243 |
1470 |
973 |
744 |
387 |
| Subtotal: Lender ( 9.9%)( ) |
22740 |
-90 |
-1973 |
-4039 |
-5467 |
-6170 |
-7343 |
| |
|
|
|
|
|
|
|
| Investor ( 5.1%)( ****) |
|
|
|
|
|
|
|
| Equity Residual ( 3 196) |
17103 |
3722 |
2790 |
1828 |
1210 |
925 |
481 |
| Investment ( 3 310) |
-12550 |
-9041 |
-8509 |
-7789 |
-7153 |
-6768 |
-5928 |
| Net Cash Flow (NCF) ( 3 699) |
4780 |
1767 |
1479 |
1146 |
899 |
770 |
534 |
| Income Taxes (Annual) ( 3 850) |
1806 |
1384 |
1316 |
1223 |
1140 |
1089 |
977 |
| Inc.Taxes:Equity Residual ( 3 880) |
-4419 |
-962 |
-721 |
-472 |
-313 |
-239 |
-124 |
| Tax Credit ( 3 890) |
10890 |
6083 |
5494 |
4753 |
4148 |
3805 |
3111 |
| Subtotal: Investor ( 5.1%)( ****) |
17609 |
2953 |
1849 |
688 |
-68 |
-419 |
-949 |
| |
|
|
|
|
|
|
|
| Other ( ****)( ) |
|
|
|
|
|
|
|
| Const.Interest ( 4 155) |
4866 |
4207 |
4103 |
3959 |
3829 |
3749 |
3568 |
| Financing Fees ( 4 158) |
816 |
674 |
650 |
617 |
586 |
566 |
522 |
| Const.Loan ( 4 220) |
|
-3643 |
-4140 |
-4782 |
-5318 |
-5624 |
-6244 |
| Subtotal: Other ( ****)( ) |
5682 |
1239 |
613 |
-206 |
-903 |
-1309 |
-2154 |
| |
|
|
|
|
|
|
|
| Public ( )( ) |
|
|
|
|
|
|
|
| Income Taxes (Annual) ( 5 850) |
-1806 |
-1384 |
-1316 |
-1223 |
-1140 |
-1089 |
-977 |
| Inc.Taxes:Equity Residual ( 5 880) |
4419 |
962 |
721 |
472 |
313 |
239 |
124 |
| Tax Credit ( 5 890) |
-10890 |
-6083 |
-5494 |
-4753 |
-4148 |
-3805 |
-3111 |
| Subtotal: Public ( )( ) |
-8277 |
-6505 |
-6089 |
-5503 |
-4974 |
-4655 |
-3963 |
| |
|
|
|
|
|
|
|
| Total |
33641 |
-5255 |
-8261 |
-11469 |
-13600 |
-14608 |
-16185 |
