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Table A-10. Scenario 2:
<br />Post -1995 Cashflow
<br />Cash Flow Escalator Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Yr8 Yr9 Yr10
<br />Tenant Rents 2.50%$1,882,320 $1,929,378 $1,977,612 $2,027,053 $2,077,729 $2,129,672 $2,182,914 $2,237,487 $2,293,424 $2,350,760
<br />Rental Subsidy $576,600 $576,600 $576,600 $576,600 $576,600 $576,600 $576,600 $576,600 $576,600 $576,600
<br />Vacancy 5%($122,946)($125,299)($127,711)($130,183)($132,716)($135,314)($137,976)($140,704)($143,501)($146,368)
<br />Effective Gross Income $2,335,974 $2,380,679 $2,426,502 $2,473,470 $2,521,613 $2,570,959 $2,621,538 $2,673,383 $2,726,523 $2,780,992
<br />Operating Expenses (Less Services)3.50%$846,740 $876,376 $907,049 $938,796 $971,654 $1,005,662 $1,040,860 $1,077,290 $1,114,995 $1,154,020
<br />Resident Service Expenses 3.50%$100,000 $103,500 $107,123 $110,872 $114,752 $118,769 $122,926 $127,228 $131,681 $136,290
<br />% of Service Expense Target 100%100%100%100%100%100%100%100%100%100%
<br />Net Operating Income $1,389,234 $1,400,803 $1,412,330 $1,423,803 $1,435,207 $1,446,529 $1,457,753 $1,468,865 $1,479,847 $1,490,682
<br />Replacement Reserves 3.50%$50,500 $52,268 $54,097 $55,990 $57,950 $59,978 $62,077 $64,250 $66,499 $68,826
<br />% of Replacement Reserve Target 100%100%100%100%100%100%100%100%100%100%
<br />Proposed Ordinace Fee 3.50%$47,571 $49,236 $50,959 $52,743 $54,589 $56,499 $58,477 $60,524 $62,642 $64,834
<br />Cash available for debt service $1,291,163 $1,299,300 $1,307,274 $1,315,069 $1,322,668 $1,330,051 $1,337,199 $1,344,091 $1,350,706 $1,357,022
<br />Debt Service $1,186,621 $1,186,621 $1,186,621 $1,186,621 $1,186,621 $1,186,621 $1,186,621 $1,186,621 $1,186,621 $1,186,621
<br />Net Cash $104,542 $112,679 $120,653 $128,448 $136,047 $143,430 $150,578 $157,470 $164,085 $170,401
<br />Debt Service Coverage Ratio 1.09 1.09 1.10 1.11 1.11 1.12 1.13 1.13 1.14 1.14
<br />Additional Subsidy Required $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
<br />General Partner Fee $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
<br />Residual Receipts $79,542 $87,679 $95,653 $103,448 $111,047 $118,430 $125,578 $132,470 $139,085 $145,401
<br />Developer 35%$27,542 $30,359 $33,120 $35,819 $38,450 $41,007 $43,482 $45,868 $48,159 $50,346
<br />Other Public Funding 44%$34,667 $38,213 $41,689 $45,086 $48,398 $51,615 $54,731 $57,735 $60,618 $63,370
<br />City of Redwood City 22%$17,333 $19,107 $20,844 $22,543 $24,199 $25,808 $27,365 $28,867 $30,309 $31,685
<br />100%
<br />Economic & Planning Systems, Inc. A-9 Appendix A
<br />8.A. - Page 118 of 168
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