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Shelter School Renovation (L&H):Phase 1: Residential

Schedule C: Residual Values & IROR's

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

  Capitalized value
PROJECT  
165 Capitalized Cost (TCC) 2,824,377
190 Residual Value 3,373,875
195 Land Residual 674775
670 Mtge Amortization 1,269,804
710 Depreciation 2,157,116
   
Developer  
1 916 Pre-Tax Present Value 779717
1 926 Pre-Tax Net Cash 1,406,633
   
Lender  
2 670 Mtge Amortization 1,269,804
2 916 Pre-Tax Present Value -282179
2 926 Pre-Tax Net Cash 1,987,409
   
Investor  
3 196 Equity Residual 2,104,071
3 880 Inc.Taxes:Equity Residual -449535
3 916 Pre-Tax Present Value -822708
3 917 After-Tax Present Value 826931
3 926 Pre-Tax Net Cash 1,654,555
3 927 After-Tax Net Cash 3,911,610
   
Other  
4 916 Pre-Tax Present Value 207843
4 926 Pre-Tax Net Cash 272156
   
All Participants  
99 916 Pre-Tax Present Value -117327
99 926 Pre-Tax Net Cash 5,320,753
   
Developer  
1 936 IROR Pre-Tax  
1 938 FMRR Pre-Tax  
   
Lender  
2 936 IROR Pre-Tax 8.95
2 938 FMRR Pre-Tax 11.21
   
Investor  
3 936 IROR Pre-Tax 5.08
3 937 IROR After-Tax 28.85
3 937.1 IROR After-Tax(w/o pass.loss) 25.44
3 938 FMRR Pre-Tax 6.95
3 939 FMRR After-Tax 17.87
3 939.1 FMRR After-Tax(w/o pass.loss) 17.48
   
Other  
4 936 IROR Pre-Tax  
4 938 FMRR Pre-Tax  
   
All Participants  
99 936 IROR Pre-Tax 11.36
99 938 FMRR Pre-Tax 12.46



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