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TABLE 2 <br />STABILIZED NET OPERATING INCOME <br />FRANCIS XAVIER RESIDENCE <br />SANTA ANA, CALIFORNIA <br />I. Gross Residential Income 1 <br />Manager's Unit <br />ELI H&SC/PBV <br />1-Bedroom Units @ (S00-Sf) <br />ELI H&SC/NPLH @ 2S% Median/SNHP/NPLH COSR <br />1-Bedroom Units @ (S00-Sf) <br />ELI H&SC/SNHP @ 2S% Median <br />1-Bedroom Units @ (S00-Sf) <br />ELI H&SC/SNHP @ 30% Median/SNHP COSR <br />1-Bedroom Units @ (S00-Sf) <br />PBV/COSR Subsidies <br />ELI H&SC/PBV <br />1-Bedroom Units @ (S00-Sf) <br />NPLH COSR 2 <br />SNHP COSR 2 <br />Gross Income <br />Laundry/Miscellaneous Income <br />(Less) Vacancy Allowance <br />Effective Gross Income <br />1 Unit <br />$0 <br />/Unit/Month <br />$0 <br />3 Units <br />$249 <br />/Unit/Month <br />9,000 <br />8 Units <br />$249 <br />/Unit/Month <br />23,900 <br />1 Unit <br />$249 <br />/Unit/Month <br />3,000 <br />4 Units <br />$249 <br />/Unit/Month <br />12,000 <br />3 Units $1,469 /Unit/Month <br />8 Units <br />4 Units <br />17 Units <br />17 Units $26 /Unit/Month <br />7.0% Tenant -Paid Income + PBV Subsidy <br />S2,900 <br />6S,000 <br />$198,300 <br />S,300 <br />(7,400) <br />$196,200 <br />II. Operating Expenses <br />General Operating Expenses <br />17 <br />Units <br />$S,6S6 <br />/Unit <br />$96,200 <br />Property Taxes <br />3 17 <br />Units <br />$318 <br />/Unit <br />S,400 <br />Supportive Services <br />16 <br />Units <br />$3,S40 <br />/Affordable Unit <br />S6,600 <br />NLPH Annual Fee <br />4 $1,S63,000 <br />NPLH Loan <br />0.42% <br />NPLH Loan <br />6,600 <br />SNHP Annual Fee <br />5 <br />7,S00 <br />Replacement Reserve <br />17 <br />Units <br />$S00 <br />/Unit <br />8,S00 <br />Total Operating Expenses <br />17 <br />Units <br />$10,63S <br />/Unit <br />$180,800 <br />III. INet Operating Income <br />$15,400 <br />1 Based on Orange County 2021 Incomes distributed by HUD/HCD. As pertinent, the rents are based on rents published in 2021 by HCD, CA H&SC <br />Section SOOS3, and 30% of SSI. Utility Allowances per the Developer: $31 for 1-Bdrm units. <br />2 Per KMA COSR analysis. See TABLE S. The final amounts will be determined by HCD and CaIHFA. <br />3 Based on the assumption that the Developer will receive the property tax abatement accorded to non-profit housing organizations that own and <br />operate apartment units restricted to households earning less than 80% of the area median income. <br />4 Based on the requirements of the No Place Like Home (NPLH) Program. <br />5 Based on the requirements of the Special Needs Housing Program (SNHP). <br />Prepared by: Ke rGftyAGOURdtiates, Inc. 16 - 67 12/7/2021 <br />Filename: Francis Xavier Residence PF_8 27 21.x1sm; Pro Formaw 3 PBV; trb 2 of 12 <br />