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i 1 <br /> mackhawlc Woo is <br /> Rental Townhomes <br /> Elk River,MN(Sherburne County) <br /> Ope rating Statement Budget <br /> 84 One-Level Townhome Apartments and Clubhouse Activity Center for Seniors <br /> with Low and Moderate Incomes `£ <br /> Rents: Average MO YR RANGE <br /> 491-BR with Garage $632 x 12 $ 371,616 $489/MO-$775//MO <br /> 35 2-BR with Garage $895 x 12 $ 375,900 $795/MO-$993/MO <br /> Total Bldg Rent $ 747,516 <br /> Income: <br /> Annual W/O TIF <br /> Rent: <br /> $ 747,516 <br /> 7%Vacancy $ (52,326) <br /> W/O Tax Increment Financing $ 79,650 $ <br /> Total Income: $ 774,840 $ 695,190 <br /> Expenses: <br /> Administration $ (75,240) <br /> Water/Sewer/Trash $ (38,700) <br /> Operations&Maintenance $ (61,968) <br /> RE Taxes $ (94,500) <br /> Insurance $ (16,416) <br /> Replacement Reserves $ (26,845) <br /> Total Expenses: $ (313,669) <br /> Net Operating Income(NOI): $ 461,171 $ 381,521 <br /> Debt Service: $5,706,205 <br /> Mortgage: $6,900,000.3.75% 30 YR AMM(&56) $ (383,640) $ (317,265) <br /> $63,553 <br /> Surplus/Deficit: 1.20 DSC $76,728 $ 77,531 $ 64,256 <br /> Note: <br /> ♦Rent includes: <br /> Water/Sewer/Trash/Maintenance <br /> ♦ Renter Pays: Gas,Electric,.Phone&Cable <br /> 2013 HUD Maximum incomes Allowed: <br /> 1- Person Income: $ 34,620 <br /> 2- Person income: $ 39,540 <br /> C\Users\Denise Johnson\Documents\2012 New ProJects\Roger\New Project Info 8-2-10Vlk Rlver\ER OS 2-2 8-13 5/30/201312:19 PM <br />