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APPENDIX A -TABLE 3 <br />FAIR REUSE VALUE ANALYSIS <br />VETERANS VILLAGE <br />SANTA ANA, CALIFORNIA <br />I. Potential Funding Sources <br />A. Supportable Permanent Financing <br />Net Operating Income <br />$757,253 NOI <br />Income Available for Mortgage <br />1.18 DCR <br />Interest Rate / Mortgage Constant <br />5.56% Int. Rate <br />Supportable Permanent Financing <br />B. 9% Federal Tax Credit Equity <br />$12,648,740 Gross Value <br />C. OCCF Loan <br />D. Home Depot Foundation <br />E. County MHSA Loan <br />F. AHP Loan <br />G. Deferred Developer Fee 28% Developer Fee <br />$642,546 Debt Service <br />6.24% Mort. Constant <br />$10,300,000 <br />$12,900,000 <br />$1,500,000 <br />$500,000 <br />$2,912,000 <br />$750,000 <br />$615,000 <br />Total Potential Funding Sources $29,477,000 <br />11. Financial Surplus/(Gap) Calculation <br />Total Potential Funding Sources $29,477,000 <br />(Less) Total Development Costs (29,954,000) <br />Financial Surplus/(Gap) 75 Affordable Units ($6,400)/Unit ($477,000) <br />101.99% Synd. Rate <br />Prepared by: Keyser Marston Associates, Inc. <br />Filename: Santa Ana VV - 2018 9% Model - 7 3 19; Financial Gap -9%-KMA;llr25B-61 <br />