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EECHCC o3UT-FOR ANALYSIS
<br /> WITH NO ASSISTANCE WITH ASSISTANCE
<br /> SOURCES 8~ USES SOURCES & USES
<br /> SOURCES SOURCES
<br />MORTGAGE 36,102,000 31,627,000
<br />EQUITY 3, 800, 000 3, 800, 000
<br />INCENTIVES -ASSISTANCE - 4,475,000
<br />land, prep, abatement, etc
<br />TOTAL SOURCES $ 39,902,000 $ 39,902,000
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<br /> USES USES
<br />SOFT COSTS
<br />Design & Engineering 1,975,800 1,975,800
<br />Permits, Testing & Fees 1,096,566 169,481
<br />Legal & Due Dilegence 364,000 364,000
<br />Legal & Accounting 646,500 646,500
<br />Insurance & Taxes 1,654,500 1,654,500
<br />Mgmt Fees & Reserve 3,435,955 3,435,955
<br />Soft Cost Subtotal 9,173,321 8,246,236
<br />LAND 8~ CONSTRUCTION
<br />Property & Closing Costs 2,668,945 921,030
<br />Sitework 2,265,994 465,994
<br />Utilities 173,140 173,140
<br />Building 16,924,750 16,924,750
<br />Furniture, Fixtures & Equip 4,796,500 4,796,500
<br />General Contractor & Conditions 3,899,350 3,899,350
<br />Land ~ Construction Subtotal 30,728,679 27,180,764
<br />City Assistance ~ Incentives - 4,475,000
<br />TOTAL USES $ 39,902,000 $ 39,902,000
<br />Net Operating Income 2,771,403 2,771,403
<br />Mortgage 2, 970, 060 2,625, 942
<br /> 30 yr term, 7.3% int 30 yr term, 7.3% int
<br /> 36,102,000 principle 3 1,627,000 principle
<br />Net Cash Available (198,657) 145,461
<br />Return on Equity -5,23% 3.83%
<br />gl~~~g
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