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Covenant Village: 9% Tax Credit: $1.2M PBC

Schedule E: Taxable Income

Annual

  Total 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Net Avail.for Debt Svc. 5,209,816 26890 292336 297717 303058 308348 313575 318726 323788 328744 327356 325830 330371 334738 338908 342859 346567 350008
Ground Rent -341466 -5466 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000
Participation                                    
1st Mortgage Interest -2745286   -104283 -206936 -204581 -201994 -199149 -196022 -192585 -188806 -184653 -180087 -175068 -169551 -163487 -156820 -149492 -71774
2cd Mortgage Interest -90000   -3000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -3000
3rd Mortgage Interest -340459   -9056 -18525 -19088 -19669 -20267 -20884 -21519 -22174 -22848 -23543 -24259 -24997 -25757 -26541 -27348 -13984
Credit Enhancement -174000 -6000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000    
Bridge Loan Interest -267685   -72534 -112464 -63878 -18809                        
Debt Service Acctg.Adj. -220459 -44220 -176239                              
Schedule #Dep.4802978 1 27.5yrs -2838123 -43663 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654 -174654
Schedule #Dep. 280800 1 5 yrs -280800 -14040 -56160 -56160 -56160 -56160 -42120                      
Schedule #Dep. 66000 1 15 yrs -66000 -1100 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -4400 -3300  
Schedule #Dep. 0 2 7 yrs -268070                   -38296 -65650 -46893 -33495 -23925 -23925 -23925 -11962
Total -2422531 -87599 -340990 -314422 -258704 -206337 -166015 -116233 -108370 -100289 -136494 -161504 -133902 -111359 -92315 -82481 -59151 53634


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