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Washington Avenue Apartments
<br />20-Year Cash Flow
<br />Rent Increase: Residential Tenant Rent: 2.00 % Rent Increase -Section 8 2.00 %
<br />Rent Increase: Commercial Rents 2.00 % Rent Increase - NA 2.00 %
<br />Expenses Increase: 3.00% Rent Increase -Test C 2.00%
<br />Reserve Increase: 0.00% Rent Increase -Test D 2.00 %
<br />Credit Period
<br />Year:
<br />(1)
<br />2023
<br />GROSS POTENTIAL INCOME - RESIDENTIAL
<br />0
<br />Incremental Income: Section 8
<br />0
<br />Misc. Income
<br />0
<br />Vacancy Loss - Residential
<br />5.0 %
<br />0
<br />Vacancy Loss - Section 8
<br />10.0 %
<br />0
<br />GROSS EFFECTIVE INCOME
<br />0
<br />Operating Expenses w/ Standard Inflator
<br />3.0 %
<br />0
<br />TOTALEXPENSES
<br />0
<br />Total Expenses - Residential
<br />3.0%
<br />0
<br />NET OPERATING INCOME
<br />0
<br />REPLACEMENT RESERVE
<br />43,200
<br />0
<br />Mandatory Annual HCD Payment
<br />0.42%
<br />0
<br />NET REMAINING INCOME
<br />0
<br />PERM LOAN -TRANCHE A Conventional
<br />Penn Loan -A Tranche
<br />Principal Balance (Ending)
<br />2,374,000
<br />0
<br />Annual Issuer Fee
<br />2,500
<br />0.125%
<br />0
<br />Trustee
<br />4,000
<br />0.000%
<br />0
<br />Series Bond P&I
<br />196,126
<br />0
<br />Interest Payment
<br />0
<br />Principal Payment
<br />0
<br />TOTAL SERIES A DEBT SERVICE
<br />0
<br />NET CASH FLOW 0
<br />Debt Service Coverage Ratio (All Debt) NIA
<br />Version: 1.4.4 Feasibility w Penn Debt
<br />Penn Loan - % Debt Svc Yr -1 0.0 %
<br />Penn Loan - % Debt Svc Yr 0 0.0 %
<br />Perm Loan - % Debt Svc Yr 1 16.7 %
<br />Penn Loan - % Debt Svc Yr 2 100.0 %
<br />Penn Loan - % Debt Svc Yr 3 100.0 %
<br />Page 11a
<br />0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
<br />D24 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045
<br />0 442,304 672,302 685,748 699,463 713,452 727,721 742,276 757,121 772,264 787,709 803,463 819,532 835,923 852,642 869,694 887,088 904,830 922,927 941,385 960,213 979,417
<br />0 275,888 419,350 427,737 436,291 445,017 453,918 462,996 472,256 481,701 491,335 501,162 511,185 521,409 531,837 542,474 553,323 564,390 575,677 587,191 598,935 610,913
<br />0 2,304 3,502 3,572 3,644 3,716 3,791 3,867 3,944 4,023 4,103 4,185 4,269 4,354 4,441 4,530 4,621 4,713 4,808 4,904 5,002 5,102
<br />0 (22,230) (33,790) (34,466) (35,155) (35,858) (36,576) (37,307) (38,053) (38,814) (39,591) (40,382) (41,190) (42,014) (42,854) (43,711) (44,585) (45,477) (46,387) (47,314) (48,261) (49,226)
<br />0 (27,589 1 4t 1.9351 4( 2,7741 4( 3.6291 4( 4.5021 4( 5,392) 4( 6.3001 4( 7,2261 4( 8,170) 4( 9.134) 5( 0,1161 5( 1,1191 5( 2,1411 5( 3.184) 5( 4,2471 5( 5.3321 5( 6.439) 5( 7.568) 5( 8,7191 5( 9,8931 6( 1.0911
<br />0 670,677 1,019,429 1,039,817 1,060,614 1,081,826 1,103,462 1,125,532 1,148,042 1,171,003 1,194,423 1,218,312 1,242,678 1,267,531 1,292,882 1,318,740 1,345,115 1,372,017 1,399,457 1,427,446 1,455,995 1,485,115
<br />0 422,491 646,412 665,804 685,778 706,352 727,542 749,368 771,849 795,005 818,855 843,421 868,723 894,785 921,629 949,277 977,756 1,007,088 1,037,301 1,068,420 1,100,473 1,133,487
<br />0 422,491 646,412 665,804 685,778 706,352 727,542 749,368 771,849 795,005 818,855 843,421 868,723 894,785 921,629 949,277 977,756 1,007,088 1,037,301 1,068,420 1,100,473 1,133,487
<br />0 422,491 646,412 665,804 685,778 706,352 727,542 749,368 771,849 795,005 818,855 843,421 868,723 894,785 921,629 949,277 977,756 1,007,088 1,037,301 1,068,420 1,100,473 1,133,487
<br />0 248,185 373,017 374,013 374,835 375,474 375,920 376,163 376,193 375,998 375,568 374,891 373,955 372,746 371,254 369,462 367,359 364,928 362,156 359,026 355,523 351,628
<br />0 28,800 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200 43,200
<br />0 13,834 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007 83,007
<br />0 205,551 246,810 247,806 248,629 249,268 249,714 249,956 249,986 249,791 249,361 248,684 247,748 246,540 245,047 243,256 241,152 238,722 235,949 232,819 229,316 225,421
<br />0 2,368,557 2,301,255 2,230,150 2,155,027 2,075,658 1,991,804 1,903,211 1,809,611 1,710,722 1,606,244 1,495,862 1,379,242 1,256,031 1,125,857 988,327 843,025 689,511 527,321 355,966 174,926 0
<br />0 0 2,961 2,877 2,788 2,694 2,595 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500
<br />0 0 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000
<br />0 16,344 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 196,126 179,782
<br />0 10,901 128,825 125,021 121,003 116,757 112,272 107,533 102,527 97,237 91,648 85,744 79,506 72,916 65,953 58,596 50,824 42,612 33,937 24,771 15,087 4,856
<br />0 5 443 67302 71 105 75 123 79369 83 854 88 593 93 600 98 889 104,478 110,382 116,620 123,211 130,174 137,530 145,303 153,514 162,190 171,355 181,039 174,926
<br />0 16,344 203,087 203,003 202,914 202,820 202,721 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 202,626 186,282
<br />0 189,207 43,723 44,804 45,715 46,447 46,993 47,330 47,360 47,165 46,735 46,058 45,122 43,913 42,420 40,629 38,526 36,095 1 33,323 30,193 26,689 39,139
<br />N/A 1.15 1.22 1.22 1.23 1.23 1.23 1.23 1.23 1.23 1.23 1.23 1.22 1.22 1.21 1.20 1.19 1.18 1.16 1.15 1.13 1.21
<br />DISTRIBUTION OF CASH FLOW
<br />LP AMF 1
<br />Annua/Amt., 5,000
<br />0
<br />0
<br />833
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />5,000
<br />Inflator. 0.00%
<br />GPPMF2
<br />Annua/Amt: 20,000
<br />0
<br />0
<br />3,333
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />20,000
<br />Inflator., 0.00%
<br />DDF
<br />Annua/Amt., 300,000
<br />0
<br />0
<br />185,040
<br />18,723
<br />19,804
<br />20,715
<br />21,447
<br />21,993
<br />12,278
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />DDF Note Interest Rate: 0.00%
<br />Residual Receipts Loans
<br />Total % 50.00%
<br />HCD MHP
<br />73.84%
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />3,711
<br />8,255
<br />8,184
<br />8,025
<br />7,775
<br />7,429
<br />6,983
<br />6,432
<br />5,770
<br />4,994
<br />4,097
<br />3,073
<br />1,917
<br />624
<br />5,220
<br />County Measure Al
<br />18.74%
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />942
<br />2,095
<br />2,077
<br />2,037
<br />1,973
<br />1,886
<br />1,772
<br />1,632
<br />1,465
<br />1,267
<br />1,040
<br />780
<br />487
<br />158
<br />1,325
<br />City of San Leandro
<br />7.42%
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />373
<br />829
<br />822
<br />806
<br />781
<br />746
<br />701
<br />646
<br />580
<br />502
<br />411
<br />309
<br />193
<br />63
<br />524
<br />Sponsor Distribution(50%)
<br />Annua/Amt, 1
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />5,026
<br />11,180
<br />11,083
<br />10,868
<br />10,529
<br />10,061
<br />9,457
<br />8,710
<br />7,815
<br />6,763
<br />5,548
<br />4,162
<br />2,597
<br />845
<br />7,070
<br />NCF %: 100.00%
<br />ACalifornia Housing Partnership Corpmaiion
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