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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 27 Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34 Year 35
<br />$101,096 $103,623 $106,214 $108,869 $111,591 $114,380 $117,240 $120,171 $123,175
<br />100,525 103,039 105,615 108,255 110,961 113,735 116,579 119,493 122,481
<br />(14,113)(14,466)(14,828)(15,199)(15,579)(15,968)(16,367)(16,776)(17,196)
<br />$187,508 $192,195 $197,000 $201,925 $206,973 $212,148 $217,451 $222,888 $228,460
<br />$235,301 $243,537 $252,061 $260,883 $270,014 $279,464 $289,245 $299,369 $309,847
<br />9,036 9,217 9,402 9,590 9,781 9,977 10,177 10,380 10,588
<br />126,858 131,298 135,893 140,650 145,572 150,667 155,941 161,399 167,047
<br />16,143 16,708 17,293 17,898 18,525 19,173 19,844 20,539 21,258
<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 />$403,339 $416,760 $430,648 $445,020 $459,892 $475,281 $491,207 $507,686 $524,740
<br />($215,831)($224,565)($233,648)($243,095)($252,919)($263,134)($273,755)($284,799)($296,280)
<br />$0 $0 $0 $0 $0 $0 $0 $0 $0
<br />$0 $0 $0 $0 $0 $0 $0 $0 $0
<br />$0 $0 $0 $0 $0 $0 $0 $0 $0
<br />$0 $0 $0 $0 $0 $0 $0 $0 $0
<br />$0 $0 $0 $0 $0 $0 $0 $0 $0
<br />$0 $0 $0 $0 $0 $0 $0 $0 $0
<br />Prepared by: Keyser Marston Associates, Inc.
<br />Filename: Francis Xavier Residence PF_8 27 21.xlsm; CF_w 3 PBV; trb 7 of 12
<br />EXHIBIT 3
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