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Covenant Village:FAHP & LIHTC Test:Trial 6: Test All Form Inputs: Projection

Schedule C: Residual Values & IROR's

(column heading(s) indicate method for calculating residual value)

  Original cost
PROJECT  
165 Capitalized Cost (TCC) 5507641
190 Residual Value 5513401
195 Land Residual 1102680
670 Mtge Amortization 2008604
710 Depreciation 2933804
   
Developer  
1 195 Land Residual 1102680
1 196 Equity Residual 24021
1 320 Investment Adj. 350000
1 916 Pre-Tax Present Value -274447
1 926 Pre-Tax Net Cash 1446801
   
Lender  
2 670 Mtge Amortization 943411
2 916 Pre-Tax Present Value -79657
2 926 Pre-Tax Net Cash 1664276
   
Investor  
3 196 Equity Residual 2378096
3 880 Inc.Taxes:Equity Residual -451273
3 916 Pre-Tax Present Value -1107476
3 917 After-Tax Present Value 704058
3 926 Pre-Tax Net Cash 472250
3 927 After-Tax Net Cash 3612512
   
Other  
4 916 Pre-Tax Present Value -1054
4 926 Pre-Tax Net Cash 423168
   
Secondary Lender  
6 670 Mtge Amortization 1065193
6 916 Pre-Tax Present Value -819263
6 926 Pre-Tax Net Cash 658543
   
Underwriter/Syndctr  
7 916 Pre-Tax Present Value 194222
7 926 Pre-Tax Net Cash 313300
   
All Participants  
99 916 Pre-Tax Present Value -2087674
99 926 Pre-Tax Net Cash 4978339
   
Developer  
1 936 IROR Pre-Tax 8.31
1 938 FMRR Pre-Tax 11.39
   
Lender  
2 936 IROR Pre-Tax 10.68
2 938 FMRR Pre-Tax 11.92
   
Investor  
3 936 IROR Pre-Tax 1.53
3 937 IROR After-Tax 29.09
3 937.1 IROR After-Tax(w/o pass.loss) 21.32
3 938 FMRR Pre-Tax 4.01
3 939 FMRR After-Tax 18.55
3 939.1 FMRR After-Tax(w/o pass.loss) 16.36
   
Other  
4 936 IROR Pre-Tax 11.96
4 938 FMRR Pre-Tax 12.85
   
Secondary Lender  
6 936 IROR Pre-Tax 2.94
6 938 FMRR Pre-Tax 7.29
   
Underwriter/Syndctr  
7 936 IROR Pre-Tax  
7 938 FMRR Pre-Tax  
   
All Participants  
99 936 IROR Pre-Tax 5.84
99 938 FMRR Pre-Tax 8.37



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