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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 45 Year 46 Year 47 Year 48 Year 49 Year 50 Year 51 Year 52 Year 53
<br />$157,675 $161,616 $165,657 $169,798 $174,043 $178,394 $182,854 $187,426 $192,111
<br />156,785 160,705 164,723 168,841 173,062 177,388 181,823 186,369 191,028
<br />(22,012)(22,563)(23,127)(23,705)(24,297)(24,905)(25,527)(26,166)(26,820)
<br />$292,448 $299,759 $307,253 $314,934 $322,808 $330,878 $339,150 $347,629 $356,319
<br />$437,069 $452,367 $468,200 $484,587 $501,547 $519,101 $537,270 $556,074 $575,537
<br />12,906 13,164 13,428 13,696 13,970 14,250 14,535 14,825 15,122
<br />235,637 243,884 252,420 261,255 270,399 279,863 289,658 299,796 310,289
<br />29,986 31,036 32,122 33,246 34,410 35,614 36,861 38,151 39,486
<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 />$731,599 $756,451 $782,169 $808,784 $836,326 $864,828 $894,323 $924,846 $956,434
<br />($439,151)($456,692)($474,916)($493,850)($513,518)($533,950)($555,173)($577,218)($600,114)
<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 9 of 12
<br />EXHIBIT 3
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