Laserfiche WebLink
TABLE 2 <br />STABILIZED NET OPERATING INCOME <br />9% TAX CREDITS <br />WISEPLACE PSH PROJECT <br />SANTA ANA, CALIFORNIA <br />I.Income 1 <br />Manager's Unit 1 Unit $0 /Unit/Month $0 <br />Base Income <br />Tax Credit @ 30% Median/Low HOME/30% SSI <br />Studio Units @ (410-Sf)47 Units $286 /Unit/Month 161,300 <br />Section 8 Subsidy Income <br />Tax Credit @ 30% Median/Low HOME/30% SSI <br />Studio Units @ (410-Sf)25 Units $1,396 /Unit/Month 418,800 <br />Laundry/Miscellaneous Income 48 Units $9 /Unit/Month 5,200 <br />Gross Rent Income 48 Units $585,300 <br />COSR Withdrawl 39,000 <br />(Less) Vacancy & Collection Allowance 7.0%Gross Rent Income (41,000) <br />Effective Gross Rent Income $583,300 <br />II.Operating Expenses <br />General Operating Expenses 48 Units $8,450 /Unit $405,600 <br />Property Taxes 2 48 Units $139 /Unit 6,700 <br />Social Services 47 Affordable Units $3,170 /Affordable Unit 149,000 <br />OCHFT Monitoring Fee 48 Units $100 /Unit 4,800 <br />Replacement Reserve 48 Units $360 /Unit 17,300 <br />Total Operating Expenses 48 Units $12,154 /Unit $583,400 <br />III.Stabilized Net Operating Income ($100) <br />1 <br />2 <br />Based on Orange County 2022 Incomes distributed by HUD. As pertinent, the rents are based on rents published in 2022 by TCAC and the HOME <br />Program. The Project will pay all utilities. <br />Assumes the Developer will apply for the property tax welfare exemption accorded to non-profit housing organizations that own and operate <br />apartment units restricted to households earning no more than 80% AMI. <br />Prepared by: Keyser Marston Associates, Inc. <br />File name: Santa Ana Wiseplace_6 4 22.xlsx; Pro Forma_9%; trb <br />EXHIBIT 3