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Parrott St. Apartments 4% LIHTCCASH FLOW PROJECTIONYearInfl./Vacancy 123456789101112131415Calendar Factors2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034Tenant Payments2.5%643,644 659,735 676,228 693,134 710,463 728,224 746,430 765,090 784,218 803,823 823,919 844,517 865,630 887,270 909,452Other Income1.0%6,696 6,763 6,831 6,899 6,968 7,038 7,108 7,179 7,251 7,323 7,397 7,471 7,545 7,621 7,697Commercial/Childcare Income1.0%000000000000 000Section 8 Income2.0%000000000000 000Scheduled Gross Income650,340 666,498 683,059 700,033 717,430 735,262 753,538 772,269 791,469 811,146 831,315 851,987 873,175 894,891 917,149Residential Vacancy7.5%(48,776) (49,987) (51,229) (52,502) (53,807) (55,145) (56,515) (57,920) (59,360) (60,836) (62,349) (63,899) (65,488) (67,117) (68,786)Section 8 Vacancy7.5%000000000000 000Commercial Vacancy50.0%000000000000 000Effective Gross Income601,565 616,511 631,830 647,531 663,623 680,117 697,022 714,349 732,108 750,310 768,967 788,088 807,687 827,774 848,363Operating Expenses for all units3.5%(392,200) (405,927) (420,134) (434,839) (450,059) (465,811) (482,114) (498,988) (516,453) (534,528) (553,237) (572,600) (592,641) (613,384) (634,852)Issuer Monitoring Fee and County Monitor0.0%(7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734) (7,734)Replacement Reserves1.0%(37,200) (37,572) (37,948) (38,327) (38,710) (39,098) (39,489) (39,883) (40,282) (40,685) (41,092) (41,503) (41,918) (42,337) (42,760)Net Operating Income 164,430 165,277 166,013 166,630 167,120 167,474 167,685 167,743 167,639 167,363 166,903 166,251 165,393 164,319 163,016Debt Service ‐ 1st Mortgage (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892) (110,892)Debt Service ‐ 2nd Mortgage 000000000000 000Debt Service ‐ AHSC0.42%(32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091) (32,091)Net Available Cash21,447 22,295 23,030 23,647 24,137 24,492 24,703 24,761 24,657 24,380 23,921 23,268 22,411 21,336 20,033Debt Coverage Ratio1.15 1.16 1.16 1.17 1.17 1.17 1.17 1.17 1.17 1.17 1.17 1.16 1.16 1.15 1.14Debt Coverage Ratio (w/o section 8)Asset Management Fee 5,000$ (5,000) (5,175) (5,356) (5,544) (5,738) (5,938) (6,146) (6,361) (6,584) (6,814) (7,053) (7,300) (7,555) (7,820) (8,093)Deposit to Transition Reserve 0 000Deferred Developer Fee211,727$ (16,447) (17,120) (17,674) (18,104) (18,399) (18,553) (18,556) (18,399) (18,072) (17,565) (16,868) (15,968) (14,855) 0Partnership Management Fee 25,000$ 000000000000 0(13,517) (11,940)Available Cash Flow 000000000000 00019
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