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Shasta Street 968,786
<br />Cash Flow, Years 1-15
<br />RESIDENTIAL CASH FLOW Factor Trend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
<br />Gross Residential Income 2.50%2,650,109 2,716,362 2,784,271 2,853,877 2,925,224 2,998,355 3,073,314 3,150,147 3,228,900 3,309,623 3,392,363 3,477,172 3,564,102 3,653,204 3,744,534
<br />Miscellaneous Income (laundry)$6,000 2.50%6,000 6,150 6,304 6,461 6,623 6,788 6,958 7,132 7,310 7,493 7,681 7,873 8,069 8,271 8,478
<br />Parking Income $0 PSPM 0.00%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Vacancy Rate 5.00%(132,805)(136,126)(139,529)(143,017)(146,592)(150,257)(154,014)(157,864)(161,811)(165,856)(170,002)(174,252)(178,609)(183,074)(187,651)
<br />Rental/Operating Subsidy Y 2.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />[Other]0.00%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Vacancy Rate (subsidized units)10.00%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />EFFECTIVE GROSS INCOME 2,523,303 2,586,386 2,651,046 2,717,322 2,785,255 2,854,886 2,926,258 2,999,415 3,074,400 3,151,260 3,230,042 3,310,793 3,393,562 3,478,402 3,565,362
<br />Residential Operating Expenses $12,092 PUPA 3.50%(1,209,199)(1,251,521)(1,295,324)(1,340,661)(1,387,584)(1,436,149)(1,486,414)(1,538,439)(1,592,284)(1,648,014)(1,705,695)(1,765,394)(1,827,183)(1,891,134)(1,957,324)
<br />Property Taxes - Partial Welfare Exemption 3.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Resident Services - Beyond Homes $0 3.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Supportive Services $1,500 per annum 3.50%(150,000)(155,250)(160,684)(166,308)(172,128)(178,153)(184,388)(190,842)(197,521)(204,435)(211,590)(218,995)(226,660)(234,593)(242,804)
<br />Replacement Reserve $500 PUPA $500 (50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)(50,000)
<br />LACDA Annual Fee $0 per annum 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />CalHFA Admin Fee $0 per annum 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />CalHCD Interest 0.42%per annum (87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)(87,990)
<br />HACLA Monitoring Fee $0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Ground Lease Annual Payment (if applicable)0.00%per annum 0.00%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />NET OPERATING INCOME 1,026,114 1,041,625 1,057,048 1,072,364 1,087,553 1,102,594 1,117,466 1,132,144 1,146,605 1,160,821 1,174,767 1,188,413 1,201,729 1,214,684 1,227,244
<br />Debt Service (892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)(892,267)
<br />Debt Service Coverage Ratio 1.15 1.17 1.18 1.20 1.22 1.24 1.25 1.27 1.29 1.30 1.32 1.33 1.35 1.36 1.38
<br />NET CASH FLOW 133,847 149,358 164,780 180,096 195,285 210,327 225,198 239,877 254,337 268,554 282,500 296,146 309,462 322,417 334,976
<br />Cash Flow Distribution 1 0%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Cash Flow Distribution 2 0%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />COMMERCIAL CASH FLOW Factor Trend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
<br />Commercial $0.00 psf / month 2.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />[Non-Res 1]$0.00 psf / month 2.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />[Non-Res 2]$0.00 psf / month 2.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Gross Commercial Income 2.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Vacancy Rate 20%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />EFFECTIVE GROSS INCOME 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Commercial OpEx $0.90 psf / month 3.50%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Retail OpEx Reimbursement (NNN)95%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />NET OPERATING INCOME 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Commercial Loan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Commercial Loan - DSCR 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Section 108 Loan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />NET CASH FLOW 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />DISTRIBUTION OF RESIDENTIAL CASH FLOW Factor Trend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
<br />Net Residential Cash Flow 133,847 149,358 164,780 180,096 195,285 210,327 225,198 239,877 254,337 268,554 282,500 296,146 309,462 322,417 334,976
<br />LP Asset Management Fee $3,000 per annum 3.50%(3,000)(3,105)(3,214)(3,326)(3,443)(3,563)(3,688)(3,817)(3,950)(4,089)(4,232)(4,380)(4,533)(4,692)(4,856)
<br />Deferred Developer Fee 1,300,000$ 0.00%(130,847)(146,253)(161,567)(176,770)(191,843)(206,764)(221,511)(64,446)0 0 0 0 0 0 0
<br />Partnership Management Fee $12,000 per annum 3.50%0 0 0 0 0 0 0 (108,620)(15,802)(16,355)(16,927)(17,520)(18,133)(18,767)(19,424)
<br />Subordinate Debt 0%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - Ground Lease 13.18%share 0 0 0 0 0 0 0 (8,300)(30,907)(32,689)(34,432)(36,132)(37,786)(39,388)(40,935)
<br />Residual Receipt - City Source 0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - LACDA 0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - CalHFA MIP 0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - MHP 0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - AHSC 27.60%share 0 0 0 0 0 0 0 (17,388)(64,751)(68,484)(72,136)(75,698)(79,162)(82,519)(85,759)
<br />Residual Receipt - VHHP 0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - No Place Like Home 0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - [Funding Source]9.22%share 0 0 0 0 0 0 0 (5,810)(21,635)(22,882)(24,103)(25,293)(26,450)(27,572)(28,655)
<br />Residual Receipt - [RR Loan]0.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - Limited Partnership 50.00%share 0 0 0 0 0 0 0 (31,497)(117,293)(124,055)(130,671)(137,123)(143,398)(149,479)(155,348)
<br />Math Check (should equal 100%):100.00%
<br />DISTRIBUTION OF COMMERCIAL CASH FLOW Factor Trend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
<br />Net Commercial Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - Ground Lease Note 15.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Residual Receipt - Limited Partnership 85.00%share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />100.00%
<br />Ground Lease Payment Factor Trend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
<br />Beginning Balance 9,999,900 10,299,897 10,599,894 10,899,891 11,199,888 11,499,885 11,799,882 12,099,879 12,391,576 12,660,667 12,927,975 13,193,540 13,457,404 13,719,615 13,980,224
<br />Distributions - Public Subsidy Split 0 0 0 0 0 0 0 (8,300)(30,907)(32,689)(34,432)(36,132)(37,786)(39,388)(40,935)
<br />Distributions - Owner 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Interest 3.00%299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997 299,997
<br />Ending Balance 10,299,897 10,599,894 10,899,891 11,199,888 11,499,885 11,799,882 12,099,879 12,391,576 12,660,667 12,927,975 13,193,540 13,457,404 13,719,615 13,980,224 14,239,287
<br />$22,220,726 bal yr 55
<br />6.00%Discount Rate
<br />NPV (99 yrs):619,488
<br />Undiscounted (99 yrs):4,649,912
<br />SELLER NOTE - COMMERCIAL Factor Trend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
<br />Beginning Balance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Distributions - RR 1 15%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Distributions - RR 2 85%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Interest 3.00%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />Ending Balance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
<br />ATTY/RESO.0029/CC RESO APPROVING ARCHITECTUAL PERMIT, TENTATIVE PARCEL MAP (920 SHASTA) – EXHIBIT B
<br />REV: 04-22-25 VR
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