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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 36 Year 37 Year 38 Year 39 Year 40 Year 41 Year 42 Year 43 Year 44
<br />$126,255 $129,411 $132,646 $135,962 $139,361 $142,845 $146,417 $150,077 $153,829
<br />125,543 128,681 131,898 135,196 138,575 142,040 145,591 149,231 152,961
<br />(17,626)(18,066)(18,518)(18,981)(19,456)(19,942)(20,441)(20,952)(21,475)
<br />$234,171 $240,026 $246,026 $252,177 $258,481 $264,943 $271,567 $278,356 $285,315
<br />$320,691 $331,916 $343,533 $355,556 $368,001 $380,881 $394,212 $408,009 $422,289
<br />10,799 11,015 11,236 11,460 11,690 11,923 12,162 12,405 12,653
<br />172,894 178,945 185,209 191,691 198,400 205,344 212,531 219,970 227,669
<br />22,002 22,772 23,569 24,394 25,247 26,131 27,046 27,992 28,972
<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 />$542,387 $560,648 $579,546 $599,101 $619,338 $640,279 $661,950 $684,376 $707,583
<br />($308,215)($320,623)($333,519)($346,924)($360,857)($375,336)($390,383)($406,020)($422,268)
<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 8 of 12
<br />EXHIBIT 3
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