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i <br /> * <br /> i <br /> I <br /> i <br /> PlacR6lha%k Woods <br /> Rental Townhomes <br /> Elk River, MN(Sherburne County) <br /> Operating Statement Budget <br /> 84 One-Level Townhome Apartments and Clubhouse Activity Center for Seniors <br /> with Low and Moderate incomes <br /> Rents: Average MID 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 /> Rent: W <br /> Annual O TIF <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 $ (38,704) <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 <br /> $ 381,521 <br /> Debt Service: $5,706,205 <br /> Mortgage: $6,900,004 @ 3.75% 30 YR AMM(5 56) $ (383,640) $ (317,265) <br /> $63,553 <br /> Surplus/Deficit: 1.30 DSC $76,728 $ 77,531 <br /> $ '6'4,256 <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 8-2-10\Elk River\ER 05 2-28-13 <br /> 5/30/201312:19 PM <br />