10A Action 2012 0716 - Laserfiche WebLink

Home

Page 1: Cash Flow Project Name: San Leandro Cornerstone 682012 600 PN San Leandro Cornerstone Assumptions Partnership & Investor Asset Partnership Management Fee Index 3.50% Property Tax Rate 0.00% Management Fe ($35,000) Annual Rental Income Increase 2.50% Taxes Incr. 2.00 Annual Misc. Income Increase 1.00% Vacancy /Collection Loss (L.I. Ur 5.00 Annual Expense Increase 3.50% Replacement Reserve 400 per unit Social Service Increase 3.50% Additional Replacement Reserve 200 per unit Replacement Reserve Index 000 Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Tax - Credit Income $2,456,520 $2,517,933 $2,580,881 $2,645,403 $2,711,538 $2,779,327 $2,848,810 $2,920,030 $2,993,031 $3,067,857 $3,144,553 $3,223,167 $3,303,746 $3,386,340 $3,470,998 $3,557,773 $3,646,718 Misc. Income (Laundry) $19,200 $19,392 $19,586 $19,782 $19,980 $20,179 $20,381 $20,585 $20,791 $20,999 $21,209 $21,421 $21,635 $21,851 $22,070 $22,291 $22,514 Gross Potential Income $2,475,720 $2,537,325 $2,600,467 $2,665,185 $2,731,518 $2,799,506 $2,869,191 $2,940,615 $3,013,822 $3,088,856 $3,165,762 $3,244,588 $3,325,381 $3,408,191 $3,493,068 $3,580,064 $3,669,231 Tess Vacancy /Collection Loss ($122,826) ($125,897) ($129,044) ($132,270) ($135,577) ($138,966) ($142,441) ($146,002) ($149,652) ($153,393) ($157,228) ($161,158) ($165,187) ($169,317) ($173,550) ($177,889) ($182,336) Effective Gross Income $2,352,894 $2,411,428 $2,471,423 $2,532,915 $2,595,941 $2,660,540 $2,726,751 $2,794,614 $2,864,170 $2,935,463 $3,008,534 $3,083,430 $3,160,194 $3,238,874 $3,319,518 $3,402,175 $3,486,895 Tess Operating Expenses ($1,150,000) ($1,190,250) ($1,231,909) ($1,275,026) ($1,319,651) ($1,365,839) ($1,413,644) ($1,463,121) ($1,514,330) ($1,567,332) ($1,622,189) ($1,678,965) ($1,737,729) ($1,798,549) ($1,861,499) ($1,926,651) ($1,994,084) less Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Net Operating Income $1,202,894 $1,221,178 $1,239,514 $1,257,889 $1,276,290 $1,294,701 $1,313,107 $1,331,493 $1,349,840 $1,368,131 $1,386,346 $1,404,464 $1,422,465 $1,440,325 $1,458,020 $1,475,524 $1,492,811 Less Debt Service ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) Bond Issuer Fee 0.080% ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) ($11,247) Less Replacement Reserves ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) Less Partnership & Asset Management Fee ($35,000) ($36,225) ($37,493) ($38,805) ($40,163) ($41,569) ($43,024) ($44,530) ($46,088) ($47,701) ($49,371) ($51,099) ($52,887) ($54,738) ($56,654) ($58,637) ($60,690) Net Cash Flow $150,275 $167,334 $184,402 $201,465 $218,507 $235,512 $252,464 $269,343 $286,132 $302,810 $319,355 $335,746 $351,958 $367,967 $383,746 $399,267 $414,502 Less Additional Replacement Reserves ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) Cash Flow $110,275 $127,334 $144,402 $161,465 $178,507 $195,512 $212,464 $229,343 $246,132 $262,810 $279,355 $295,746 $311,958 $327,967 $343,746 $359,267 $374,502 Distribution to BRIDGE 50% ($55,137) ($63,667) ($72,201) ($80,732) ($89,253) ($97,756) ($106,232) ($114,672) ($123,066) ($131,405) ($139,678) ($147,873) ($155,979) ($163,983) ($171,873) ($179,634) ($187,251) Distribution to City 50% ($55,137) ($63,667) ($72,201) ($80,732) ($89,253) ($97,756) ($106,232) ($114,672) ($123,066) ($131,405) ($139,678) ($147,873) ($155,979) ($163,983) ($171,873) ($179,634) ($187,251) Net Cash Flow $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Description Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 Affordable Rents $3,737,886 $3,831,333 $3,927,116 $4,025,294 $4,125,926 $4,229,075 $4,334,801 $4,443,171 $4,554,251 $4,668,107 $4,784,810 $4,904,430 $5,027,041 Misc. Income (Laundry) $22,739 $22,966 $23,196 $23,428 $23,662 $23,899 $24,138 $24,379 $24,623 $24,869 $25,118 $25,369 $25,622 Gross Potential Income $3,760,624 $3,854,299 $3,950,312 $4,048,722 $4,149,588 $4,252,973 $4,358,939 $4,467,550 $4,578,873 $4,692,976 $4,809,927 $4,929,799 $5,052,663 Tess Vacancy /Collection Loss ($186,894) ($191,567) ($196,356) ($201,265) ($206,296) ($212,649) ($216,740) ($222,159) ($227,713) ($233,405) ($239,240) ($245,221) ($251,352) Effective Gross Income $3,573,730 $3,662,732 $3,753,956 $3,847,457 $3,943,292 $4,040,324 $4,142,199 $4,245,392 $4,351,161 $4,459,571 $4,570,687 $4,684,577 $4,801,311 Tess Operating Expenses ($2,063,877) ($2,136,113) ($2,210,877) ($2,288,257) ($2,368,346) ($2,451,238) ($2,537,032) ($2,625,828) ($2,717,732) ($2,812,852) ($2,911,302) ($3,013,198) ($3,118,660) less Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Net Operating Income $1,509,853 $1,526,620 $1,543,080 $1,559,200 $1,574,946 $1,589,086 $1,605,167 $1,619,564 $1,633,429 $1,646,718 $1,659,385 $1,671,379 $1,682,651 less Debt Service ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) ($926,373) Bond Issuer Fee ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) ($5,000) Less Replacement Reserves ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) Less Partnership Management Fee ($60,690) ($62,814) ($65,012) ($67,288) ($69,643) ($72,080) ($74,603) ($77,214) ($79,916) ($82,714) ($85,609) ($88,605) ($91,706) Net Cash Flow $437,791 $452,433 $466,695 $480,540 $493,931 $505,633 $519,192 $530,977 $542,140 $552,632 $562,404 $571,402 $579,573 Less Additional Replacement Reserves ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) ($40,000) Cash Flow $437,791 $452,433 $466,695 $480,540 $493,931 $505,633 $519,192 $530,977 $542,140 $552,632 $562,404 $571,402 $579,573 Distribution to BRIDGE 50% ($218,896) ($226,217) ($233,347) ($240,270) ($246,965) ($252,817) ($259,596) ($265,489) ($271,070) ($276,316) ($281,202) ($285,701) ($289,786) Distribution to City 50% ($218,896) ($226,217) ($233,347) ($240,270) ($246,965) ($252,817) ($259,596) ($265,489) ($271,070) ($276,316) ($281,202) ($285,701) ($289,786) Net Cash Flow _______$0 $0 ______ ______ _______$0 $0 _______$0 $0 ______ _______ _______$0 ------ $0 ______ $0 ______ _______$0 $0 ______ _______$ 0