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NewB_(119)_9%_MixedIncome
<br />SUMMARY
<br />EXPENSE SUMMARY
<br />TOTALS
<br />UNDERWRITING ASSUMPTIONS
<br />SOURCES AND USES
<br />Uses
<br />TOTAL OF CONSTRUCTION FINANCING
<br />1BR 5 500
<br />1BR 37
<br />50% MTSP
<br />1BR 12 500 855 931 30% MTSP
<br />500 1,280
<br />Minnesota Housing First Mortgage
<br />Source
<br />200,800 1,687
<br />Energy Rebates
<br />Sales Tax Rebate
<br />MHFA HOME
<br />16,900
<br />600,000
<br />TOTAL PERMANENT FINANCING
<br />1,166,165 9,800
<br />Subsidy Funding Sources
<br />Name of Source
<br />Deferred Loan Request
<br />Federal Historic Proceeds
<br />State Historic Proceeds
<br />Syndication Proceeds
<br />General Partner Cash
<br />FUNDING GAP REMAINING (0) (0)
<br />27,260,337 229,078
<br />23,065,000 193,824
<br />Construction Loan
<br />Source
<br />Construction Sources
<br />Deferred Developer Fee
<br />23,065,000 193,824
<br />TOTAL OF SUBSIDY FUNDING
<br />CommittedPer Unit Committed Amount # Unit
<br />3%
<br />27,260,337 229,078 100%
<br />885,986 7,445Reserves and Non‐Mortgageable
<br />TOTAL DEVELOPMENT COST
<br />5%
<br />26,374,351 221,633 97%
<br />5,042 1,374,313 11,549Financing Costs
<br />TOTAL MORTGAGEABLE
<br />10%
<br />12,000 101 0%
<br />142 2,688,000 22,588Developer Fees
<br />Syndicator Fees
<br />0%
<br />915,705 7,695
<br />1,793,983 15,075 7%
<br />26,250 221Environmental Abatement
<br />Professional Fees
<br />117,626 1,250,000 10,504 5%
<br />59%
<br />Acquisition or Refinance
<br />1 16,065,000 135,000New Construction
<br />Amount Per Unit % of TotalDescription
<br />DCR Year 155.0%
<br />10.0%
<br />3.00%
<br />7.00%
<br />Parking Vacancy
<br />Commercial Vacancy
<br />Expense Inflator
<br />Cap Rate
<br />Permanent Capital Funding Sources
<br />Residential Vacancy
<br />M & O/Unit/Year 6,160
<br />M & O Per Room
<br />DCR Year 1
<br />0.25%1.27 MIP
<br />1.12 Loan Rate 4.65%
<br />1,440119 1,707,238
<br />7,314Total expense per Unit($)
<br />Total expense per Unit(% of Revenue)
<br />NOI 800,994
<br />Net Operating Income
<br />Effective Gross Expense 870,310
<br />Reserves & Escrows 137,320
<br />Amount
<br />Unique Operating Expenses3BR 13 900 1,333 1,458 60% MTSP 60% MTSP
<br />Insurance 38,840
<br />2BR 12 700 1,527 1,627 Market
<br />Utilities 184,3553BR 5 900 1,467 1,592 30% MTSP 50% MTSP
<br />Maintenance 243,880
<br />2BR 8 700 952 1,052 50% MTSP
<br />Expense Amount2BR 22 700 1,163 1,263 60% MTSP 60% MTSP
<br />Net Rental Income
<br />Total Other Income
<br />2BR 5 700 1,027 1,127 30% MTSP 50% MTSP Total Rental Loss 113,334
<br />50% MTSP
<br />Gross Potential Rent 1,784,638
<br />TIF 132,014
<br />Housing Income 1,707,238
<br />Unit Type
<br /># of
<br />Units
<br />Approx Sq
<br />Ft
<br />Covered Parking 77,400
<br />Surface Parking
<br />Monthly
<br />Contract
<br />Rent
<br />Monthly
<br />Gross Rent Rent Limit Income Limit
<br />Income
<br />HTCHOMEHPHEmp OccRent AsstOp SubsAmount Per Unit Committed
<br />668 744 30% MTSP 50% MTSP
<br />1,356
<br />None
<br />Market None
<br />11,278,872 94,780
<br />6.4% Income Inflator
<br />8%
<br />3%
<br />2,249,100 18,900Contractor Fees
<br />Contingency
<br />Rehabilitation
<br />Commercial
<br />2.00%
<br />52%
<br />Total M & O 732,990Own OccAmount
<br />Amount
<br />Program Type
<br />RENT GRID
<br />PWD13,997,500
<br />100
<br />1,803,318
<br />Administrative 265,915
<br />INCOME & EXPENSE
<br />Workbook Summary ‐ Page 3 of 32 3/26/2018 5:25 PM
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