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Table A-11. Scenario 3:
<br />Pre -1995 Cashflow
<br />Cash Flow Escalator Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Yr8 Yr9 Yr10
<br />Tenant Rents 2.00%$1,882,320 $1,919,966 $1,958,366 $1,997,533 $2,037,484 $2,078,233 $2,119,798 $2,162,194 $2,205,438 $2,249,547
<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)($124,828)($126,748)($128,707)($130,704)($132,742)($134,820)($136,940)($139,102)($141,307)
<br />Effective Gross Income $2,335,974 $2,371,738 $2,408,217 $2,445,426 $2,483,380 $2,522,092 $2,561,578 $2,601,854 $2,642,936 $2,684,839
<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 $1,391,862 $1,394,046 $1,395,759 $1,396,974 $1,397,662 $1,397,793 $1,397,337 $1,396,260 $1,394,530
<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 $1,290,359 $1,288,990 $1,287,026 $1,284,435 $1,281,184 $1,277,239 $1,272,563 $1,267,119 $1,260,869
<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 $103,738 $102,369 $100,405 $97,814 $94,563 $90,618 $85,942 $80,498 $74,248
<br />Debt Service Coverage Ratio 1.09 1.09 1.09 1.08 1.08 1.08 1.08 1.07 1.07 1.06
<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 $78,738 $77,369 $75,405 $72,814 $69,563 $65,618 $60,942 $55,498 $49,248
<br />Developer 35%$27,542 $27,263 $26,789 $26,109 $25,212 $24,086 $22,720 $21,101 $19,217 $17,052
<br />Other Public Funding 44%$34,667 $34,316 $33,720 $32,864 $31,734 $30,318 $28,598 $26,560 $24,188 $21,464
<br />City of Redwood City 22%$17,333 $17,158 $16,860 $16,432 $15,867 $15,159 $14,299 $13,280 $12,094 $10,732
<br />100%
<br />Economic & Planning Systems, Inc. A-13 Appendix A
<br />8.A. - Page 122 of 168
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