|
Westview House Cash Flow Statement - DetailedINFLATOR:2% / 3%STABILIZED YEARLease Up 5mo.PER UNIT TOTAL Stabilized 6mo.23456789101112131415INCOME2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038Gross Potential Rental Income (Non-PSH) 6,993 856,380 0 785,015 872,080 889,522 907,312 925,459 943,968 962,847 982,104 1,001,746 1,021,781 1,042,217 1,063,061 1,084,322 1,106,009 1,128,129Gross Potential Rental Income (PSH) 1,358 377,388 345,939 384,307 391,993 399,833 407,829 415,986 424,306 432,792 441,448 450,276 459,282 468,468 477,837 487,394 497,142Other Income (Residential) 144 12,240 0 11,220 12,464 12,714 12,968 13,227 13,492 13,762 14,037 14,318 14,604 14,896 15,194 15,498 15,808 16,124GROSS POTENTIAL INCOME (RES.) 14,659 1,246,008 0 1,142,174 1,268,851 1,294,229 1,320,113 1,346,515 1,373,446 1,400,915 1,428,933 1,457,512 1,486,662 1,516,395 1,546,723 1,577,657 1,609,210 1,641,395Vacancy (Residential - Non PSH)(350) (42,819)0(39,251) (43,604) (44,476) (45,366) (46,273) (47,198) (48,142) (49,105) (50,087) (51,089) (52,111) (53,153) (54,216) (55,300) (56,406)Vacancy (Residential - PSH)(68) (18,869) (17,297) (19,215) (19,600) (19,992) (20,391) (20,799) (21,215)Vacancy (Other Income) (7) (612)0(561) (623) (636) (648) (661) (675) (688) (702) (716) (730) (745) (760) (775) (790) (806)Gross Commercial Income 0 0 0 000000000000000Vacancy (Commercial) 0 0 0 000000000000000Subsidy Income 4,165 354,048 0 324,544 359,359 364,749 370,220 375,774 381,410 387,131 392,938 398,832 404,815 410,887 417,050 423,306 429,656 436,101Vacancy (Subsidy) (208) (17,702)0(16,227) (17,968) (18,237) (18,511) (18,789) (19,071) (19,357) (19,647) (19,942) (20,241) (20,544) (20,853) (21,165) (21,483) (21,805)Operating Reserve Draws 00 0 000000000000000EFFECTIVE GROSS INCOME 17,883 1,520,053 0 1,393,382 1,546,800 1,576,029 1,605,817 1,636,175 1,667,113 1,698,644 1,752,417 1,785,599 1,819,417 1,853,882 1,889,008 1,924,807 1,961,293 1,998,47845.13%EXPENSESManagement Fee 4.00%728 61,872 0 56,716 63,573 65,481 67,445 69,468 71,552 73,699 75,910 78,187 80,533 82,949 85,437 88,001 90,641 93,360Social Services 971 82,570 0 75,689 84,841 87,386 90,007 92,708 95,489 98,354 101,304 104,343 107,474 110,698 114,019 117,439 120,963 124,591NPLH, MHSA, & OCHFT Monitoring Fees 450 38,229 0 35,043 39,280 40,459 41,672 42,923 44,210 45,537 46,903 48,310 49,759 51,252 52,789 54,373 56,004 57,684EXPENSES 5,421 460,814 0 422,413 473,486 487,691 502,322 517,391 532,913 548,900 565,368 582,329 599,798 617,792 636,326 655,416 675,078 695,331Replacement Reserve 500 42,500 0 38,958 42,500 43,775 45,088 46,441 47,834 49,269 50,747 52,270 53,838 55,453 57,116 58,830 60,595 62,413TOTAL EXPENSES 8,070 685,985 0 628,820 703,681 724,791 746,535 768,931 791,999 815,759 840,232 865,439 891,402 918,144 945,688 974,059 1,003,2811,033,379NET OPERATING INCOME 9,813 834,068 0 764,563 843,119 851,237 859,282 867,243 875,114 882,885 912,186 920,160 928,015 935,738 943,320 950,748 958,012 965,099DEBT SERVICE (HARD)Permanent Loan0 764,563 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313Overhand Tranche0 00000000000000000 000000000000000Accrual Mortgage0 0000000000000000 000000000000000TOTAL DEBT SERVICE Stabilized DSC 1.22 0764,563 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313 689,313Required DSC 1.15NET CASH FLOW 0 0 153,806 161,925 169,969 177,931 185,802 193,572 222,873 230,848 238,702 246,426 254,007 261,436 268,700 275,786HARD DEBT RATIOSDebt Service Coverage Ratio (Hard) N/A1.001.221.231.251.261.271.281.321.331.351.361.371.381.391.40EXHIBIT 3
|