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Turnkey Syndication (+2.5%/yr):Trial 7: Conv.Fin.: 9% LIHTC:$1.2M FAHP

Schedule D: Present Value By Participant By Line Item

discount rate = 0.12

Operator  
Land ( 1 132) -312500
Land Residual ( 1 195) 179184
Participation ( 1 682) 33903
Subtotal: Operator -99414
   
General Partner  
Equity Residual ( 2 196) 3999
Participation ( 2 682) 2,006,826
Participation ( 2 682) 156733
Participation ( 2 682) -2211597
Participation ( 2 682) -123577
Net Cash Flow (NCF) ( 2 699) 2619
Subtotal: General Partner -164996
   
Investor  
Equity Residual ( 3 196) 395924
Investment ( 3 310) -1616976
Participation ( 3 682) 123577
Net Cash Flow (NCF) ( 3 699) 259267
Income Taxes (Const.) ( 3 820) 1731
Income Taxes (from Disb.) ( 3 840) -42016
Income Taxes (Annual) ( 3 850) 226499
Inc.Taxes:Equity Residual ( 3 880) -92026
Tax Credit ( 3 890) 1,720,320
Subtotal: Investor 976301
   
Other  
Const.Interest ( 4 155) 419807
Const.Loan ( 4 220) -441942
Subtotal: Other -22135
   
Public  
Income Taxes (Const.) ( 5 820) -1731
Income Taxes (from Disb.) ( 5 840) 42016
Income Taxes (Annual) ( 5 850) -226499
Inc.Taxes:Equity Residual ( 5 880) 92026
Tax Credit ( 5 890) -1720320
Subtotal: Public -1814509
   
Secondary Lender  
Orig.Mtge(s) ( 6 240) -1071429
Mtge Interest ( 6 660) 182434
Mtge Amortization ( 6 670) 232824
Mtge Amortization ( 6 670) 96131
Subtotal: Secondary Lender -560039
   
Underwriter/Syndctr  
Financing Fees ( 7 158) 124377
Credit Enhancement ( 7 641) 68824
Subtotal: Underwriter/Syndctr 193201
   
General Partner  
Financing Fees ( 8 158) 56250
Financing Fees ( 8 158) 53668
Orig.Mtge(s) ( 8 240) -1788949
Mtge Interest ( 8 660) 1,060,584
Mtge Amortization ( 8 670) 216861
Mtge Amortization ( 8 670) 220680
Subtotal: General Partner -180906
   
Operator  
Start-up Oper. Losses (exp.) ( 9 167) -342877
Investment Adj. ( 9 320) 342877
Subtotal: Operator  
   
Total -1672498



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