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Financing <br />A B C D E <br />1 <br />2 <br />3 <br />FINANCING PERFORMA <br />4 <br />5 <br />Jackson Hills 40 unit <br />6 <br />7 <br />8 <br />9 <br />10 <br />Square Ft: <br />24,394 <br />11 <br />12 <br />Category: <br />13 <br />14 <br />Total Project Cost <br />$ 8,588,174 <br />15 <br />16 <br />Equity Contributions <br />$ 2,588,174 <br />17 <br />18 <br />Funding Requirement <br />$ 6,000,000 <br />19 <br />20 <br />Rate Assumption <br />4.00% <br />21 <br />22 <br />Term Assumption ( in years) <br />300 <br />23 <br />24 <br />JAnnual Debt Service <br />$ 380,043 <br />25 <br />26 <br />Monthly Debt Service <br />$ 31,670 <br />27 <br />28 <br />Operating Income <br />$ 638,970 <br />29 <br />30 <br />Operating Expense <br />$ 282,492 <br />31 <br />32 <br />Income From Operation <br />$ 356,478 <br />33 <br />34 <br />Debt Service Ratio <br />0.94 <br />Without Tiff <br />35 <br />36 <br />Cash Available For ROI <br />$ (23,565) <br />37 <br />38 <br />ROI (cash on cash) <br />-0.91 % <br />39 <br />40 <br />41 <br />Cap Rate <br />4.15% <br />Page 2 <br />