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Analysis for Affordable Housing Study Commission:Trial 7: LIHTC (70%) & Bond w/ 221(d) Co-insurance

Schedule D: Present Value By Participant By Line Item

discount rate = 0.12

Developer  
Start-up Oper. Losses (exp.) ( 1 167) -706218
Equity Residual ( 1 196) 8322
Investment Adj. ( 1 320) 706216
Net Cash Flow (NCF) ( 1 699) 1999
Subtotal: Developer 10319
   
Lender  
Financing Fees ( 2 158) 176974
Orig.Mtge(s) ( 2 240) -3539478
Mtge Interest ( 2 660) 1867504
Mtge Amortization ( 2 670) 305781
Mtge Amortization ( 2 670) 500759
Subtotal: Lender -688460
   
Investor  
Equity Residual ( 3 196) 823878
Investment ( 3 310) -3476816
Net Cash Flow (NCF) ( 3 699) 197882
Income Taxes (Annual) ( 3 850) 583326
Inc.Taxes:Equity Residual ( 3 880) -193946
Tax Credit ( 3 890) 1626175
Subtotal: Investor -439500
   
Other  
Const.Interest ( 4 155) 838764
Financing Fees ( 4 158) 265731
Const.Loan ( 4 220) -954056
Credit Enhancement ( 4 641) 319633
Subtotal: Other 470072
   
Public  
Income Taxes (Annual) ( 5 850) -583326
Inc.Taxes:Equity Residual ( 5 880) 193946
Tax Credit ( 5 890) -1626175
Subtotal: Public -2015555
   
Secondary Lender  
Orig.Mtge(s) ( 6 240) -1785714
Mtge Interest ( 6 660) 243245
Mtge Amortization ( 6 670) 326243
Subtotal: Secondary Lender -1216226
   
Total -3879349



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