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Total Project Cost $53,068,103
<br />Total Permanent Sources (28,371,710)
<br />Funding Shortfall $24,696,393
<br />Total Qualified Basis $29,829,544
<br />Annual Federal Credits - Calculated $2,684,659
<br />Annual Federal Credits - Awarded $2,684,659
<br />Total Federal Credits (10 Years)$26,846,590
<br />Federal Tax Credit Price $0.920
<br />Federal Tax Credit Investor Equity $24,696,393
<br />Total Tax Credit Investor Equity (Federal + State+ Acquisition)$24,696,393
<br />Threshold Basis Limits (Year 2022)9% Limits Units Limit Total
<br />Efficiency 16 308,882 4,942,112
<br />1 Bedroom 26 356,138 9,259,588
<br />2 Bedrooms 22 429,600 9,451,200
<br />3 Bedrooms 17 549,888 9,348,096
<br />4 Bedrooms 5 612,610 3,063,050
<br />86 36,064,046
<br />Special Features Threshold Basis Limit Increases
<br />10% Increase: 95% of the project's upper floor units are serviced by an elevator 3,606,405
<br />20% Increase: State or Federal Prevailing Wage Requirement 7,212,809
<br />Total Percentage Increase to Unadjusted Eligible Basis (Combined not to exceed 39%)10,819,214
<br />Seismic Upgrading or Environmental Mitigation (15% unadj. eligible basis max.)850,000
<br />Development Impact Fees 1,457,057
<br />Adjusted Threshold Basis Limit $49,190,316
<br />Total Eligible Basis $42,311,860
<br />Over /(Under) Basis Limit ($6,878,456)
<br />Related Companies of California
<br />TAX CREDIT CALCULATION
<br />The Crossroads at Washington - Updated Closing Proforma (v04r)
<br />EXHIBIT 5
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