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Shelter School Renovation: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) -50619 -42893 -41580 -39729 -38011 -36933 -34448
Equity Residual ( 1 196) 8076 1757 1317 863 572 437 227
Investment Adj. ( 1 320) 1,421,774 879074 804776 708051 626078 578293 478295
Net Cash Flow (NCF) ( 1 699) 6967 2422 2010 1541 1200 1024 708
Subtotal: Developer( )( ) 1,386,197 840360 766524 670725 589838 542821 444782
               
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 ( )( ****)              
Equity Residual ( 3 196) 799490 173992 130414 85437 56585 43243 22504
Investment ( 3 310) -2645500 -1962886 -1864413 -1733412 -1619348 -1551282 -1404088
Net Cash Flow (NCF) ( 3 699) 689694 239812 198994 152533 118783 101377 70061
Income Taxes (Annual) ( 3 850) 205558 183978 176330 164763 153544 146402 129988
Inc.Taxes:Equity Residual ( 3 880) 187590 40825 30600 20047 13277 10146 5280
Tax Credit ( 3 890) 432393 357350 344701 326951 310538 300273 276732
Tax Credit ( 3 890) 1,797,804 1,004,248 906963 784588 684702 628103 513525
Subtotal: Investor ( )( ****) 1,467,029 37319 -76410 -199093 -281919 -321738 -385998
               
Other ( )( )              
Const.Interest ( 4 155) 162194 144390 141288 136876 132731 130105 123972
Financing Fees ( 4 158) 111512 101375 99564 96967 94502 92927 89210
Const.Loan ( 4 220)   -28666 -32977 -38748 -43786 -46783 -53188
Subtotal: Other ( )( ) 273706 217099 207876 195094 183447 176248 159993
               
Public ( )( )              
Income Taxes (Annual) ( 5 850) -205558 -183978 -176330 -164763 -153544 -146402 -129988
Inc.Taxes:Equity Residual ( 5 880) -187590 -40825 -30600 -20047 -13277 -10146 -5280
Tax Credit ( 5 890) -432393 -357350 -344701 -326951 -310538 -300273 -276732
Tax Credit ( 5 890) -1797804 -1004248 -906963 -784588 -684702 -628103 -513525
Subtotal: Public ( )( ) -2623344 -1586401 -1458595 -1296349 -1162061 -1084924 -925525
               
Total 2,490,997 -601757 -842784 -1099958 -1270438 -1350624 -1474366



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