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Parrott St. Apartments 4% LIHTC
<br />TAX CREDIT CALCULATION
<br />Calculation / Type of Credit Fed.+DDA Adj. Federal State Blended Rate Max TC Option
<br />Total Eligible Basis 93% 28,983,620 28,983,620 28,983,620 Federal Only
<br />Adjusted Threshold Basis Limit 39,564,248 39,564,248 39,564,248 9,216,791
<br />Voluntary Reduction 0 0 0
<br />Unadjusted Eligible Basis (lesser of above)28,983,620 28,983,620 28,983,620 Fed + State Separate
<br />DDA or QCT adjustment x 1.30 1.00 1.00 11,681,349
<br />Adjusted Eligible Basis = 37,678,707 28,983,620 28,983,620
<br />Applicable Fraction x 93% 93% 93%
<br />Qualified Basis = 35,207,972 27,083,055 27,083,055
<br />Tax Credit Rate 0 3.18% 3.18% 13%Fed + State Blended
<br />Amount of Annual Tax Credits (CA 1st 3 yrs)1,198,183 921,679 1,198,183 11,681,349
<br />Number of Years of Tax Credits (CA 4th yr)10 10 2,322,614
<br />Total Tax Credits 11,981,829 9,216,791 3,520,797 12,737,588 Fed +DDA Adjustment
<br />Tax Credit Factor 1.0000 1.0000 0.7000 0.9171 11,981,829
<br />Estimated Syndication Proceeds 11,981,829 9,216,791 2,464,558 11,681,349
<br />1,273,759 14,446,387
<br />Tax Credit Syndication Proceeds 14,444,942
<br />GP Contribution 1,444
<br />Amount of Eligible Basis Forgo ‐$ ‐$
<br />Unadjusted Basis Limits 2017 Alameda Threshold Basis Limits (diff
<br />Unit Type Basis/Unit No. Units Total Basis/Unit 4%Basis/Unit 9%
<br />Studio 228,354 22 5,023,788 228,354 203,046
<br />1 Bedroom 263,290 22 5,792,380 263,290 234,110
<br />2 Bedroom 317,600 17 5,399,200 317,600 282,400
<br />3 Bedroom 406,528 0 0 406,528 361,472
<br />4 Bedroom 452,898 0 0 452,898 402,702
<br />Unadjusted Threshold Basis Limit 61 16,215,368
<br />Adjustments *NOTE: Asterisked items cannot total more than 39%
<br />Bonds, 55 yr, % units 36‐50% AMI 19.7% 3,189,908 1% for every 1% of units between 36‐ 50% AMI
<br />Bonds, 55 yr, % units 35% AMI or less 82.0% 13,291,285 2% for every 1% of units at 35% AMI or less
<br />Prevailing wage or PLA*20%3,243,074 20% for prevailing wage; 25% for PLAs
<br />Structured parking*7%1,135,076
<br />Impact Fees equal to actual amt 868,000
<br />Elevator* 10% 1,621,537 At least 95% of upper floor units are serviced by elevator
<br />221(d)(3) Maximum Eligible Basis 39,564,248
<br />Adjusted Threshold Basis Limit $39,564,248
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