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

Schedule T: Detail Of Present Value

by participant

( bty )( aty ) 0% 10% 12% 15% 18% 20% 25%
Developer( )( )              
Start-up Oper. Losses (exp.) ( 1 167) -37322 -31904 -30980 -29675 -28462 -27699 -25938
Investment Adj. ( 1 320) 1,421,774 878075 803641 706740 624621 576754 476593
Participation ( 1 682) 22182 8357 7055 5551 4439 3855 2782
Subtotal: Developer( )( ) 1,406,633 854528 779717 682616 600598 552910 453437
               
Lender ( 8.9%)( )              
Orig.Mtge(s) ( 2 240) -1600651 -1455137 -1429153 -1391870 -1356484 -1333876 -1280521
Mtge Interest ( 2 660) 1,987,409 938306 828457 696432 593813 537726 428713
Mtge Amortization ( 2 670) 330847 130351 111384 89405 73056 64438 48447
Mtge Amortization ( 2 670) 1,269,804 276346 207133 135697 89872 68681 35742
Subtotal: Lender ( 8.9%)( ) 1,987,409 -110134 -282179 -470335 -599743 -663031 -767619
               
Investor ( 5.1%)( ****)              
Equity Residual ( 3 196) 2,104,071 457907 343220 224851 148918 113805 59224
Investment ( 3 310) -2645500 -1962886 -1864413 -1733412 -1619348 -1551282 -1404088
Net Cash Flow (NCF) ( 3 699) 2,195,984 827392 698485 549596 439416 381658 275432
Income Taxes (Annual) ( 3 850) -113013 49895 59945 69052 73392 74544 73790
Inc.Taxes:Equity Residual ( 3 880) -449535 -97832 -73329 -48039 -31816 -24314 -12653
Tax Credit ( 3 890) 1,753,995 979776 884863 765469 668017 612798 501012
Tax Credit ( 3 890) 243712 136137 122949 106359 92819 85146 69614
Tax Credit ( 3 890) 334677 276592 266802 253064 240360 232414 214193
Tax Credit ( 3 890) 487221 402662 388409 368409 349914 338348 311821
Subtotal: Investor ( 5.1%)( ****) 3,911,610 1,069,643 826931 555348 361671 263116 88345
               
Other ( )( )              
Const.Interest ( 4 155) 160644 143169 140120 135782 131705 129120 123082
Financing Fees ( 4 158) 111512 101375 99564 96967 94502 92927 89210
Const.Loan ( 4 220)   -27667 -31841 -37437 -42329 -45244 -51486
Subtotal: Other ( )( ) 272156 216876 207843 195312 183878 176803 160805
               
Public ( )( )              
Income Taxes (Annual) ( 5 850) 113013 -49895 -59945 -69052 -73392 -74544 -73790
Inc.Taxes:Equity Residual ( 5 880) 449535 97832 73329 48039 31816 24314 12653
Tax Credit ( 5 890) -1753995 -979776 -884863 -765469 -668017 -612798 -501012
Tax Credit ( 5 890) -243712 -136137 -122949 -106359 -92819 -85146 -69614
Tax Credit ( 5 890) -334677 -276592 -266802 -253064 -240360 -232414 -214193
Tax Credit ( 5 890) -487221 -402662 -388409 -368409 -349914 -338348 -311821
Subtotal: Public ( )( ) -2257056 -1747230 -1649639 -1514314 -1392685 -1318936 -1157777
               
Total 5,320,753 283683 -117327 -551373 -846281 -989137 -1222807



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