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TABLE 4
<br />CASH FLOW ANALYSIS
<br />FRANCIS XAVIER RESIDENCE
<br />SANTA ANA, CALIFORNIA
<br />I.Gross Residential Income 1
<br />Tenant-Paid Income
<br />PBV Subsidy Income
<br />NPLH COSR
<br />SNHP COSR
<br />(Less) Vacancy Allowance
<br />Effective Gross Base Income
<br />II.Operating Expenses 2
<br />General Operating Expenses
<br />Property Taxes
<br />Supportive Services
<br />NLPH Annual Fee
<br />SNHP Annual Fee
<br />Replacement Reserve
<br />Total Operating Expenses
<br />III.Net Operating Income
<br />V.Cash Flow Available for Residual Receipts Payments
<br />Nominal Dollars
<br />VI.Residual Receipt Payments to NPLH Loan 4
<br />Nominal Dollars
<br />VII.Residual Receipt Payments to SNHP Loan 4
<br />Nominal Dollars
<br />VII.Residual Receipt Payments to OCHTF Loan 4
<br />Nominal Dollars
<br />IX.Residual Receipt Payments to Authority Loan 4
<br />Nominal Dollars
<br />X.Residual Receipt Payments to Developer
<br />Nominal Dollars
<br />1
<br />2
<br />3
<br />4
<br />The affordable rents and VASH subsidy are assumed to increase by
<br />102.5%/year. The SNHP income is increased by 101.0%/year.
<br />General operating expenses are assumed to increase by
<br />103.5%/year, property taxes at 102.0%/year and replacement
<br />reserves remain constant.
<br />SEE TABLE 3
<br />Based on pro rata share of 50% of Residual Receipts.
<br />Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17
<br />$64,819 $66,440 $68,100 $69,803 $71,548 $73,337 $75,170 $77,049 $78,976
<br />64,454 66,065 67,716 69,409 71,145 72,923 74,746 76,615 78,530
<br />83,338 86,040 88,844 91,752 94,769 97,899 101,146 104,513 108,007
<br />41,669 43,020 44,422 45,876 47,385 48,950 50,573 52,257 19,701
<br />(9,049)(9,275)(9,507)(9,745)(9,988)(10,238)(10,494)(10,757)(11,025)
<br />$245,231 $252,290 $259,576 $267,096 $274,858 $282,870 $291,141 $299,678 $274,188
<br />$126,677 $131,111 $135,700 $140,449 $145,365 $150,453 $155,718 $161,169 $166,809
<br />6,327 6,453 6,583 6,714 6,849 6,985 7,125 7,268 7,413
<br />68,962 70,686 73,160 75,720 78,370 81,113 83,952 86,891 89,932
<br />8,691 8,995 9,310 9,636 9,973 10,322 10,683 11,057 11,444
<br />7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500
<br />8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500
<br />$226,657 $233,245 $240,752 $248,519 $256,557 264,874 $273,479 $282,384 $291,599
<br />$18,574 $19,045 $18,824 $18,577 $18,301 $17,997 $17,662 $17,294 ($17,411)
<br />$18,574 $19,045 $18,824 $18,577 $18,301 $17,997 $17,662 $17,294 $0
<br />$2,379 $2,439 $2,411 $2,379 $2,344 $2,305 $2,262 $2,215 $0
<br />$3,117 $3,196 $3,159 $3,117 $3,071 $3,020 $2,964 $2,902 $0
<br />$1,267 $1,299 $1,284 $1,267 $1,248 $1,227 $1,204 $1,179 $0
<br />$2,525 $2,589 $2,559 $2,525 $2,488 $2,446 $2,401 $2,351 $0
<br />$9,287 $9,522 $9,412 $9,288 $9,151 $8,998 $8,831 $8,647 $0
<br />Prepared by: Keyser Marston Associates, Inc.
<br />Filename: Francis Xavier Residence PF_8 27 21.xlsm; CF_w 3 PBV; trb 5 of 12
<br />EXHIBIT 3
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