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					  HHFDC Consolidated Application Exhibits
  Instructions                                                                      Version 2009 12/16/2008

Input            !!! Please input only section shaded in yellow.


                 !!! Please be careful when cutting, copying and pasting since some
                 cells contain formulas or are linked to other cells within the workbook.


                 Include all reports that are applicable to your application. Please
                 include the Summary Worksheet in your application.

Printing         To Print Reports, please go to the Print Reports tab and press the button
                 that corresponds to the set of reports you want to print.
                 All pages are on letter sized paper.

Input Page       Start by completing all fields in the input page.
                 If you are not applying for Low Income Housing Tax Credit, you may enter 0
                 in the amount of LIHTC requested and leave the rest of the fields blank.


Exhibit A        Project Cost sheet.
                 Enter only the project cost and eligible basis, if applicable.
                 The cost per square feet and cost per unit will calculate automatically.

Exhibit A-1      Complete Bond issuance Cost worksheet if the project will issue Tax-
                 exempt Bonds.
                 Enter the total Bond Issuance Cost in the corresponding cell in the Project
                 Cost worksheet.
                 (Print this worksheet, if you are issuing tax-exempt bonds.)

Exhibit A-2      Complete Rehabilitation, if the project will be rehabilitating and existing
                 project.
                 (Print this worksheet, if you are rehabilitating an existing building.)

Exhibit B        Complete Cashflow.
                 Enter monthly development draws for each cost.
                 Enter monthly draw from financing source.
                 Please ensure that the project cost is equal to the project cost in Exhibit A.


Exhibit C        Enter rent information.
                 Enter rent information in the LIHTC Units section for LIHTC units only.
                 Enter rent information in the Affordable Units section for affordable units
                 other than those financed by LIHTC.
                 Enter rent information in the Market Units section for market rate units.
                 Enter information regarding the manager's units.
                 Check box if all utilities will be paid by the Owner.
                 If the box is not checked, enter information regarding utility allowances.
                 Enter information regarding Other Income including laundry, etc.
                 Information from this section will populate fields in Exhibit E.



                                                   1                                              Version: 2009A
 HHFDC Consolidated Application Exhibits
 Instructions                                                                    Version 2009 12/16/2008

Exhibit D       Complete Operating Expense
                Enter annual budget for each line item.

Exhibit E       Input vacancy and inflation rates.
                Enter Annual Debt service for each loan.
                You may use the Deferred Developer Fee Section to show the paydown of
                the deferred developer fee.
                You may use the RHTF section to show the paydown and interest on the
                RHTF loan.

Exhibit F       Complete this section if applying for LIHTC.
                Complete the TC App. Fraction first to determine the applicable fraction.
                Complete Tax Credit Allocation.
                Complete TC Rehabilitation section if you are claiming LIHTC for
                rehabilitation.
                Print the worksheets if you are applying for LIHTC.

Exhibit G       Complete this section if you are proposing a for sale project.

Summary Sheet   This form automatically summarizes the data that has been inputted.




                                                 2                                          Version: 2009A
Print Reports

(To print reports which are pertinent to your project, please press button in the right column)

Print Reports
                     Summary Sheet
        Exhibit A    Project Cost
        Exhibit B    Construction Cashflow
        Exhibit C    Operating Income
        Exhibit D    Operating Expenses
        Exhibit E    Proforma

Print Rehabilitation Scope of Work
       (For Rehabilitation projects only)
       Exhibit A-2 Rehabilitation Scope of Work


Print Exhibit F LIHTC (for New Construction)
       Exhibit F    Low Income Housing Tax Credit Calculation
                    Applicable Fraction Calculation


Print Exhibit F LIHTC (for Rehabilitation)
       Exhibit F    Low Income Housing Tax Credit Calculation
                    Applicable Fraction Calculation
                    Rehabilitation Threshold Test


Print Bond Cost of Issuance
       (For Tax-exempt Bond projects Only)
       Exhibit A-1 Bond Issuance Cost Worksheet


Print All




                                                                                                  Version 2009A
Input Page
Start Workbook by completing this worksheet

Please Input data in the yellow shaded fields
Throughout the spreadsheet, please input data only in the yellow shaded fields


Application Date

Project Name

Project Address

Project City

Project County

Island

Project Zip Code

TMK

Applicant Name

                                                                                 New Construction, Acquisition Only, Acquisition
Type of Project                                  New Construction
                                                                                   and Rehabilitation or Rehabilitation Only

                                                                                 Garden Style, Mid Rise, Highrise, Townhomes,
Building Type
                                                                                                      etc.
Number of Residential Buildings

Number of Other Buildings

Number of Buildings

Total Number of Units

Building Area in Ft. 2

Land Tenure                                                                      Lease or Fee Simple




                                                                                                                   Version 2009A
Construction Sources
  Source                                          Type             Interest Rate   Term (Months)   Debt Service          Amount

  Sponsor Equity                                  Equity

  LIHTC Equity                                    Equity
                                                  First Mortgage

  RHTF Project Award
  RARF
  DURF




                   Total                                                                                                 $               -


Permanent Sources
Source                                            Type             Interest Rate   Term (Months)   Annual Debt Service   Amount

  Sponsor Equity                                  Equity

  LIHTC Equity                                    Equity
                                                  First Mortgage

  RHTF Project Award




                   Total                                                                                                 $               -

Financing Requested (enter dollar amount of financing requested)
Hula Mae Multifamily tax-exempt bond volume cap
Rental Housing Trust Fund Interim Loan
Rental Housing Trust Fund Permanent Loan
Rental Housing Trust Fund Grant
Rental Assistance Revolving Fund Interim Loan
Dwelling Unit Revolving Fund Loan




                                                                                                                                  Version 2009A
Input for projects requesting LIHTC Only
Please fill applicable column for LIHTC requested.
  For projects requesting LIHTC in addition to the State's annual volume cap with the issuance of a Tax-exempt Private Activity Bond, please complete the 30%
  PV Column.

  For projects requesting LIHTC and are claiming both acquisition and rehabilitation credits based on the 30% PV and 70% PV respectively, please complete
  both columns.

  For new construction or rehabilitation only projects, please complete either the 30% PV or 70% PV column, as applicable.

                                                                                 30% PV                                      70% PV
LIHTC Requested
   Federal
   State

Type of LIHTC Requested

LIHTC Applicable Percentage                  Month:
130% Basis Increase as QCT or DDA                              ""
Pricing Federal LIHTC
Pricing State LIHTC
Blended LIHTC Pricing




                                                                                                                                                 Version 2009A
                                                      EXHIBIT A
                                         PROJECT COST BREAKDOWN WORKSHEET

                                                Total Units   Total Sq. Ft.
                                                        -            -
                                                                                     % of
                                                 Per Unit                            Dev.       Eligible Basis
    Itemized Cost                                 Cost         Per Sq. Ft     Cost   Cost             (1)

    To Purchase Land and Buildings
      Land
      Acquisition of Existing Building
      Demolition
      Other:
      Other:


    For Site Work
      Off-Site Work:
      Detail:




      On-Site Improvements:
      Detail:
      Other:
      Other:
      Other:


    For Rehabilitation and New Construction
      New Building
      Rehabilitation* (Complete Exhibit A 2)
      Commercial Space
      Community Service Facility
      Appliances
      Contractor Overhead
      Contractor Profit
      Other:
    * NOTE: Complete Rehabilitation Cost
                Itemization form attached


    For Contingency
      Construction Contingency
      Soft Cost Contingency
      Other:


    Permits and Fees
      Building Permits
      Other:
      Other:
      Other:
      Other:



EX. A Project Cost                                                                          Version 2009A
                                                     EXHIBIT A
                                        PROJECT COST BREAKDOWN WORKSHEET

                                               Total Units   Total Sq. Ft.
                                                       -            -
                                                                                            % of
                                                Per Unit                                    Dev.       Eligible Basis
    Itemized Cost                                Cost         Per Sq. Ft         Cost       Cost             (1)

    For Architectural and Engineering Fees
      Architect Fee-Design
      Architect Fee-Supervision
      Engineering Fees
      Other:
      Other:
      Other:
      Other:
      Other:


    For Interim Costs
      Construction Insurance
      Construction Interest
      Construction Loan Origination Fee
      Construction Loan Credit Enhancement
      Payment and Performance Bond
      Real Property Tax & Other Taxes


    BOND FINANCING COSTS
      From Exhibit A-1 Bond Issuance Cost                                    $          -             $           -


    For Financing Fees and Expenses
      Credit Report
      Permanent Loan Origination Fee
      Permanent Loan Credit Enhancement
      Cost of Issuance/Underwriters Discount
      Title and Recording
      Counsel's Fee
      Other:
      Other:




    For Soft Costs
      Property Appraisal
      Market Study
      Environmental Report
      HHFDC LIHTC Fee (Good Faith Deposit)
      Advertising / Marketing
      Consultants
      Accounting / Cost Certification
      Other:
      Other:
      Other:


EX. A Project Cost                                                                                 Version 2009A
                                                        EXHIBIT A
                                           PROJECT COST BREAKDOWN WORKSHEET

                                                           Total Units         Total Sq. Ft.
                                                                   -                  -
                                                                                                                              % of
                                                             Per Unit                                                         Dev.           Eligible Basis
    Itemized Cost                                             Cost               Per Sq. Ft               Cost                Cost                 (1)

    For Syndication Costs
      Organizational (Partnership)
      Bridge Loan Fees & Expenses
      Tax Opinion
      Other:




    For Developer's Fees
      Developer's Overhead
      Developer's Fee
      Consultant Fee
      Project Management
      Other:




    For Project Reserves
      Rent-up Reserve
      Operating Reserve
      Other:
      Other:



    Total Development Budget/Eligible Basis                                                         $             -                          $             -



          1 Complete this column only if you are applying for the LIHTC Program
               Refer to Section 42(c) and (d) of the Internal Revenue Code (IRC) for complete information on eligible basis. Only include costs or
               portions of costs attributable to the residential rental property; any non-depreciable costs are ineligible. If more than one building is
               involved, then the eligible basis must be shown for EACH building. If REHABILITATION expenditures are involved, then see the
               next page for Rehabilitation qualification eligibility.




EX. A Project Cost                                                                                                                     Version 2009A
                                                                 EXHIBIT A - 1
                                                         Bond Issuance Cost Worksheet



                   Complete only if project is using tax-exempt bond financing

                             Principal Amount:




                  Itemized Cost                                        % of Principal              Cost       Eligible Basis (1)

                  BOND FINANCING COSTS
                     Issuer Fee (IF HHFDC is the issuer $50,000)
                     Letter of Credit Admin Fee
                     Letter of Credit Cost
                     Original Issue Discount
                     Underwriting
                     Rating
                     Trustee Fees
                     Printing/Misc.
                     Cost of Issuance/Underwriters Discount
                     Issuer's Counsel
                     Bond Counsel
                     Underwriter's Counsel
                     Letter of Credit Counsel
                     Other:
                     Other:
                     Other:
                     Other:

                  Total Bond Financing Costs                                                   $          -   $             -



                       1 Complete this column only if you are applying for the LIHTC Program




                                                                                                                                   Version 2009A
EX. A-1 Bond Issuance Cost
                                                          Exhibit A-2
                                                 Rehabilitation Scope of Work

                         Please summarize the proposed scope of rehabilitation and the estimated cost.

              Description                                                                         Cost
        1


        2


        3


        4


        5


        6


        7


        8


        9


       10


       11


       12


       13


       14


       15




                                                                                                         Version 2009A
EX. A-2 Rehabilitation
                                                          Exhibit A-2
                                                 Rehabilitation Scope of Work

                         Please summarize the proposed scope of rehabilitation and the estimated cost.

              Description                                                                         Cost
       16


       17


       18


       19


       20


       21


       22


       23


       24


       25


       26


       27


       28


       29


       30




              Total                                                                                $                -




                                                                                                         Version 2009A
EX. A-2 Rehabilitation
                                                                                            EXHIBIT B
                                                                               PROJECT COST BREAKDOWN WORKSHEET


                                                                1       2            3           4       5         6       7       8       9       10      11      12


Itemized Cost                             COSTS   At Closing   Mo/Yr   Mo/Yr        Mo/Yr      Mo/Yr    Mo/Yr     Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr

To Purchase Land and Buildings
   Land
   Acquisition of Existing Building
   Demolition
Other:
Other:


For Site Work
   Off-Site Work:
   Detail:




   On-Site Improvements:
   Detail:
   Other:
   Other:
   Other:


For Rehabilitation and New Construction
   New Building
   Rehabilitation* (SEE NOTE)
   Commercial Space
   Community Service Facility
   Appliances
   Contractor Overhead
   Contractor Profit
   Other:
* NOTE: Complete Rehabilitation Cost
             Itemization form attached


For Contingency
   Construction Contingency
   Soft Cost Contingency
   Other:


Permits and Fees
   Building Permits
   Other:
   Other:
   Other:
   Other:


For Architectural and Engineering Fees
   Architect Fee-Design
   Architect Fee-Supervision
   Engineering Fees
   Other:
   Other:
   Other:
   Other:
   Other:


For Interim Costs
   Construction Insurance
   Construction Interest
   Construction Loan Origination Fee
   Construction Loan Credit Enhancement
   Payment and Performance Bond
   Real Property Tax & Other Taxes




                                                                                                                                                                          Version 2009A
                                                                                            13 of 34
                                                                                                                                           EXHIBIT B
                                                                                                                              PROJECT COST BREAKDOWN WORKSHEET


                                                                                                   1               2                 3               4               5               6               7               8               9               10              11              12


Itemized Cost                                            COSTS                   At Closing       Mo/Yr           Mo/Yr             Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr

BOND FINANCING COSTS
    From Exhibit A-1 Bond Issuance Cost


For Financing Fees and Expenses
    Credit Report
    Permanent Loan Origination Fee
    Permanent Loan Credit Enhancement
    Cost of Issuance/Underwriters Discount
    Title and Recording
    Counsel's Fee
    Other:
    Other:



For Soft Costs
    Property Appraisal
    Market Study
    Environmental Report
    HHFDC LIHTC Fee (Good Faith Deposit)
    Advertising / Marketing
    Consultants
    Accounting / Cost Certification
    Other:
    Other:
    Other:


For Syndication Costs
    Organizational (Partnership)
    Bridge Loan Fees & Expenses
    Tax Opinion
    Other:



For Developer's Fees
    Developer's Overhead
    Developer's Fee
    Consultant Fee
    Project Management
    Other:
         Subtotal


For Project Reserves
    Rent-up Reserve
    Operating Reserve
    Other:
    Other:


Total Development Budget                             $            -          $           -    $           -   $           -     $           -   $           -   $           -   $           -   $           -   $           -   $           -   $           -   $           -   $           -



Source of Funds
(Identify Source)
   1     Owner Equity
   2     LIHTC Equity
   3
   4
   5
   6


Monthly Construction Loan Draws
Cumulative Construction Loan Draws

* Note: Developer's Overhead should be equally disbursed.
**Note: Developer's Fee should be deferred till completion of the project.

                                                                                                                                                                                                                                                                                            Version 2009A
                                                                                                                                                14 of 34
                                                                               EXHIBIT B
                                                                  PROJECT COST BREAKDOWN WORKSHEET


                                                   13      14      15       16                 17      18      19      20      21      22      23      24


Itemized Cost                             COSTS   Mo/Yr   Mo/Yr   Mo/Yr    Mo/Yr              Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr   Mo/Yr

To Purchase Land and Buildings
   Land
   Acquisition of Existing Building
   Demolition
Other:
Other:


For Site Work
   Off-Site Work:
   Detail:




   On-Site Improvements:
   Detail:
   Other:
   Other:
   Other:


For Rehabilitation and New Construction
   New Building
   Rehabilitation* (SEE NOTE)
   Commercial Space
   Community Service Facility
   Appliances
   Contractor Overhead
   Contractor Profit
   Other:
* NOTE: Complete Rehabilitation Cost
             Itemization form attached


For Contingency
   Construction Contingency
   Soft Cost Contingency
   Other:


Permits and Fees
   Building Permits
   Other:
   Other:
   Other:
   Other:


For Architectural and Engineering Fees
   Architect Fee-Design
   Architect Fee-Supervision
   Engineering Fees
   Other:
   Other:
   Other:
   Other:
   Other:


For Interim Costs
   Construction Insurance
   Construction Interest
   Construction Loan Origination Fee
   Construction Loan Credit Enhancement
   Payment and Performance Bond
   Real Property Tax & Other Taxes




                                                                                                                                                              Version 2009A
                                                                                   15 of 34
                                                                                                                              EXHIBIT B
                                                                                                                 PROJECT COST BREAKDOWN WORKSHEET


                                                                                  13              14              15              16                 17              18              19              20              21              22              23              24


Itemized Cost                                            COSTS                   Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr              Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr           Mo/Yr

BOND FINANCING COSTS
    From Exhibit A-1 Bond Issuance Cost


For Financing Fees and Expenses
    Credit Report
    Permanent Loan Origination Fee
    Permanent Loan Credit Enhancement
    Cost of Issuance/Underwriters Discount
    Title and Recording
    Counsel's Fee
    Other:
    Other:



For Soft Costs
    Property Appraisal
    Market Study
    Environmental Report
    HHFDC LIHTC Fee (Good Faith Deposit)
    Advertising / Marketing
    Consultants
    Accounting / Cost Certification
    Other:
    Other:
    Other:


For Syndication Costs
    Organizational (Partnership)
    Bridge Loan Fees & Expenses
    Tax Opinion
    Other:



For Developer's Fees
    Developer's Overhead
    Developer's Fee
    Consultant Fee
    Project Management
    Other:
         Subtotal


For Project Reserves
    Rent-up Reserve
    Operating Reserve
    Other:
    Other:


Total Development Budget                             $            -          $           -   $           -   $           -   $           -    $             -   $           -   $           -   $           -   $           -   $           -   $           -   $           -



Source of Funds
(Identify Source)
   1     Owner Equity
   2     LIHTC Equity
   3
   4
   5
   6


Monthly Construction Loan Draws
Cumulative Construction Loan Draws

* Note: Developer's Overhead should be equally disbursed.
**Note: Developer's Fee should be deferred till completion of the project.

                                                                                                                                                                                                                                                                                Version 2009A
                                                                                                                                         16 of 34
           Part I - LIHTC Units

           LIHTC Only
                                                                                                       Max.
                                                                      No. of        Market           Restricted   Proposed      Utility
           Unit Type               Affordability     Size (Ft2)       Units          Rent              Rent         Rent      Allowance        Net Rent        Mo. Income
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -


           Total                                                                                                                                              $        -
           Total Annual Income                                                                                                                                $        -


           (Financing programs may have different income set aside requirements. If applying for more than one program please be sure
           that the most stringent requirement is met.)

           Market Rent: Market rent for the type of unit reported in market study
           Max. Restricted Rent: Based on income restriction and unit type
           Proposed Rent: Proposed gross rent
           Utility Allowance: Enter Utililty Allowance from Part V for any utility expense paid by the tenant
           Net Rent: Gross rent less applicable utility allowance.

           Applicants are responsible for ascertaining the current income limits and affordable rent guidelines, as established annually by HUD (www.huduser.org).
           Please attach a copy of the current income limits and affordable rent guidelines being used in connection with this application as Exhibit 33.




                                                                                                                                                                       Version 2009A
EX. C Operating Income
           Part II - Affordable Units

           Affordable Units
                                                                                                       Max.
                                                                      No. of        Market           Restricted   Proposed      Utility
           Unit Type               Affordability     Size (Ft2)       Units          Rent              Rent         Rent      Allowance        Net Rent        Mo. Income
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -
                                                                                                                                               $      -        $       -


           Total                                                                                                                                              $        -
           Total Annual Income                                                                                                                                $        -

           Market Rent: Market rent for the type of unit reported in market study
           Max. Restricted Rent: Based on income restriction and unit type
           Proposed Rent: Proposed gross rent
           Utility Allowance: Enter Utililty Allowance from Part V for any utility expense paid by the tenant
           Net Rent: Gross rent less applicable utility allowance.



           Applicants are responsible for ascertaining the current income limits and affordable rent guidelines, as established annually by HUD (www.huduser.org).
           Please attach a copy of the current income limits and affordable rent guidelines being used in connection with this application as Exhibit 33.




                                                                                                                                                                       Version 2009A
EX. C Operating Income
           Part III - Market Rate Units

           Market Units

                                                          No. of   Market   Proposed
           Unit Type                         Size (Ft2)   Units     Rent      Rent     Net Rent   Mo. Income
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -
                                                                                       $    -     $       -


           Total                                                                                  $       -
           Total Annual Income                                                                    $       -




           Part IV - Manager's Unit
           Enter number of Manager's Units
                                                          No. of
           Unit Type                         Size (Ft2)   Units




           Total




                                                                                                          Version 2009A
EX. C Operating Income
           Part V - Utility Allowance

           Check Box If Owner is paying for all Tenant utilities

           For current utility allowances, please contact the county housing office in which the project is located. The applicant is responsible
           for attaching a copy of the current utility schedule being used in connection with this application. Please attach it as Exhibit 34.

           Breakdown of Monthly Utility Allowance:

            Utility or Service                                          Studio        1-Bedroom       2-Bedroom       3-bedroom




                   Total




           Part VI - Other Income
           Enter Other Income earned by the property

           Description                                                                    Monthly         Annual
                                                                                      $        -
                                                                                      $        -
                                                                                      $        -
                                                                                      $        -
                  Total                                                               $        -      $        -




                                                                                                                                                    Version 2009A
EX. C Operating Income
                                                                      EXHIBIT D
                                                                 OPERATING EXPENSES



                                                                       Monthly       Annual        Per Unit   Per Unit    % of
                                                                       Budget        Budget       Per Month   Per Year   Op. Exp
          Line Item


          Audit and Acctg. Fees                                    $        -    $            -

          Advertising                                              $        -    $            -

          Insurance (Fire, Gen., Med., Wrk. Comp, Flood, etc.)     $        -    $            -

          Janitorial Service                                       $        -    $            -



          Professional Fees

           Detail:




                                                                   $        -    $            -



          Management Fees                                          $        -    $            -

          Office Supplies/Expenses                                 $        -    $            -

          Refuse                                                   $        -    $            -



          Repair and Maintenance Total

           Building

           Elevator

           Grounds

           Painting

           Pest Control

           Pool

           Roads

           Roof

           Sewer

           Other

           Other

                        Total                                      $        -    $            -



          Payroll

           Building Maintenance

           Grounds

           On-Site Manager

           Resident Manager

           Security

           Fringe Benefits

           Other

           Other

                        Total                                      $        -    $            -




                                                                                                                          Version 2009A
EX.D Operating Expenses
                                           EXHIBIT D
                                      OPERATING EXPENSES



                                            Monthly       Annual        Per Unit   Per Unit    % of
                                            Budget        Budget       Per Month   Per Year   Op. Exp

          Supplies

           Building

           Electrical and Lighting

           Elevator

           Equipment

           Grounds

           Janitorial

           Painting

           Pest Control

           Pool

           Roads

           Roof

           Windows




          Supplies Total                $        -    $            -



          Utilities

           Electricity

           Gas

           Telephone

           Water & Sewer

             Television/Cable

          Utilties Total                $        -    $            -



          Taxes

           Corporate Income

           General Excise

           Gross Income

           Payroll

           Real Property

                         Total          $        -    $            -

          TOTAL OPERATING EXPENSES      $        -    $            -



          Additional Expenses

          Ground Lease                  $        -    $            -

          Replacement Reserves          $        -    $            -

          HHFDC Compliance Fees         $        -    $            -

                                        $        -    $            -

                                        $        -    $            -



          TOTAL ADDITIONAL EXPENSES     $        -    $            -   $     -     $    -



          TOTAL COMBINED EXPENSES       $        -    $            -




                                                                                               Version 2009A
EX.D Operating Expenses
         0

Exhibit E: Pro Forma Budget              Inflation       1                2                3                4                5                6                7                8                9                10

INCOME
LIHTC Rental Income                      0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
0.00%      Vacancy Allowance                         $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
Affordable                               0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
0.00%      Vacancy Allowance                         $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
Market                                   0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
0.00%      Vacancy Allowance                         $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
Gross Rental Income                                  $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -

Other Income
           Laundry                       0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
           Parking                       0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
                                 0       0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
                                 0       0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
0.00%        Vacancy Allowance                       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
Gross Other Income                                   $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
   Total Income                                      $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -

EXPENSES
Operating Expenses                       0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
Ground Lease
Replacement Reserves                     0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
HHFDC Fees                               0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
0                                        0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
0                                        0.00%       $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
   Total Expenses                                    $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -

Net Operating Income                                             $0               $0               $0               $0               $0               $0               $0               $0               $0                $0

DEBT SERVICE
First        Mortgage                                $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
Second       RHTF
Other

Pre-Tax Cash Flow                                    $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -




Debt Coverage Ratio
         First                                               0.00             0.00             0.00             0.00                              0.00             0.00             0.00             0.00              0.00
         Second                                              0.00             0.00             0.00             0.00             0.00             0.00             0.00             0.00             0.00              0.00
         Other                                               0.00             0.00             0.00             0.00             0.00             0.00             0.00             0.00             0.00              0.00


Deferred Developer Fee
          Balance


Rental Housing Trust Fund
          Principal                  $           -   $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -
          Interest                   $           -
          Debt Service               $           -
          O/S Balance                $           -   $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $       -        $        -




                                                                                                                                                                                                                                Version 2009A
        Ex. E Proforma
         0

Exhibit E: Pro Forma Budget              Inflation       11                12                13                14                15                16                17                18                19                20

INCOME
LIHTC Rental Income                      0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Affordable                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Market                                   0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Rental Income                                  $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Other Income
           Laundry                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
           Parking                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%        Vacancy Allowance                       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Other Income                                   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Income                                      $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

EXPENSES
Operating Expenses                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Ground Lease
Replacement Reserves                     0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
HHFDC Fees                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Expenses                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Net Operating Income                                              $0                $0                $0                $0                $0                $0                $0                $0                $0                $0

DEBT SERVICE
First        Mortgage                                $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Second       RHTF
Other

Pre-Tax Cash Flow                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




Debt Coverage Ratio
         First                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Second                                               0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Other                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00


Deferred Developer Fee
          Balance


Rental Housing Trust Fund
          Principal                  $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
          Interest                   $           -
          Debt Service               $           -
          O/S Balance                $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




                                                                                                                                                                                                                                         Version 2009A
        Ex. E Proforma
         0

Exhibit E: Pro Forma Budget              Inflation       21                22                23                24                25                26                27                28                29                30

INCOME
LIHTC Rental Income                      0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Affordable                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Market                                   0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Rental Income                                  $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Other Income
           Laundry                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
           Parking                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%        Vacancy Allowance                       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Other Income                                   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Income                                      $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

EXPENSES
Operating Expenses                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Ground Lease
Replacement Reserves                     0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
HHFDC Fees                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Expenses                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Net Operating Income                                              $0                $0                $0                $0                $0                $0                $0                $0                $0                $0

DEBT SERVICE
First        Mortgage                                $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Second       RHTF
Other

Pre-Tax Cash Flow                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




Debt Coverage Ratio
         First                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Second                                               0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Other                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00


Deferred Developer Fee
          Balance


Rental Housing Trust Fund
          Principal                  $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
          Interest                   $           -
          Debt Service               $           -
          O/S Balance                $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




                                                                                                                                                                                                                                         Version 2009A
        Ex. E Proforma
         0

Exhibit E: Pro Forma Budget              Inflation       31                32                33                34                35                36                37                38                39                40

INCOME
LIHTC Rental Income                      0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Affordable                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Market                                   0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Rental Income                                  $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Other Income
           Laundry                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
           Parking                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%        Vacancy Allowance                       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Other Income                                   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Income                                      $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

EXPENSES
Operating Expenses                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Ground Lease
Replacement Reserves                     0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
HHFDC Fees                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Expenses                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Net Operating Income                                              $0                $0                $0                $0                $0                $0                $0                $0                $0                $0

DEBT SERVICE
First        Mortgage
Second       RHTF
Other

Pre-Tax Cash Flow                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




Debt Coverage Ratio
         First                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Second                                               0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Other                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00


Deferred Developer Fee
          Balance


Rental Housing Trust Fund
          Principal                  $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
          Interest                   $           -
          Debt Service               $           -
          O/S Balance                $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




                                                                                                                                                                                                                                         Version 2009A
        Ex. E Proforma
         0

Exhibit E: Pro Forma Budget              Inflation       41                42                43                44                45                46                47                48                49                50

INCOME
LIHTC Rental Income                      0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Affordable                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Market                                   0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%      Vacancy Allowance                         $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Rental Income                                  $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Other Income
           Laundry                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
           Parking                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
                                 0       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0.00%        Vacancy Allowance                       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Gross Other Income                                   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Income                                      $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

EXPENSES
Operating Expenses                       0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
Ground Lease
Replacement Reserves                     0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
HHFDC Fees                               0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
0                                        0.00%       $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
   Total Expenses                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -

Net Operating Income                                              $0                $0                $0                $0                $0                $0                $0                $0                $0                $0

DEBT SERVICE
First        Mortgage
Second       RHTF
Other

Pre-Tax Cash Flow                                    $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




Debt Coverage Ratio
         First                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Second                                               0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00
         Other                                                0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00              0.00


Deferred Developer Fee
          Balance


Rental Housing Trust Fund
          Principal                  $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -
          Interest                   $           -
          Debt Service               $           -
          O/S Balance                $           -   $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -        $        -




                                                                                                                                                                                                                                         Version 2009A
        Ex. E Proforma
                                                               EXHIBIT F
                                                     Low Income Housing Tax Credit
                                                     Applicable Fraction Calculation
         (1) See Section 42(c) and (d) of the appropriate percentage issued by the Internal Revenue Service basis. Only
        (2) The Applicable Percentage isthe Internal Revenue Code (IRC) for complete information on eligiblefor the month in



        Low-Income Residential Units (as defined in Sec. 42(g), IRC):

                                                                                         Square Footage
        Unit Type                                               Number of Units             per Unit            Total Square Footage
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                       Low-Income Total                                                                          -

        Non-LIHTC
                                                                                         Square Footage
        Unit Type                                               Number of Units             per Unit            Total Square Footage
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                                                                                                                 -
                                       Market Rate Total                                                                         -


        Combined Low-Income and Mkt. Totals                                                                                      -

                                    Unit Fraction Equals Total LIHTC Units
                                                         Total Combined Units

                         Floor Space Fraction Equals Total LIHTC Square Footage
                                                     Ttl Combined Square Footage

                            Applicable Fraction Equals Lesser of 2 Fractions
                                   [see Section 42 (c)]




EX F TC App. Fraction                                                                                                           Version 2009A
                                                              EXHIBIT F
                                                     Low Income Housing Tax Credit
                                                              Calculation



    Maximum LIHTC Possible                                                                    30%                                    70%

    Eligible Basis from Project Cost Breakdown Sheet

    Adjustments

       Less: Federal Grants or Federal Funds                                         $                  -                   $                   -

       Less: Nonqualified Nonrecourse Financing                                      $                  -                   $                   -

       Less Historic Tax Credit (Residential Portion only)                           $                  -                   $                   -

    Total Eligible Basis                                                             $                  -                   $                   -



       Increased by 130% for DDA or QCT, if not 100%

       Multiplied by the Applicable Fraction (2)

    Total Qualified Basis                                                            $                  -                   $                   -



       Multiplied by the Applicable Percentage (3)


    Total Amount of Annual Federal Tax Credit Possible                               $                  -                   $                   -

    State LIHTC (Multiply Federal LIHTC by)                                                             50%                                     50%
    Total Amount of State LIHTC Possible                                             $                  -                   $                   -




    Eligible Basis                                                                   $                  -                   $                   -
    Blended Pricing (Projected)
    Total LIHTC                                                                      $                  -                   $                   -


    Max. Federal LIHTC Possible                                                      $                  -                   $                   -
    Max. State LIHTC Possible                                                        $                  -                   $                   -




     (1) Eligible basis may be increased by 130% if the buildings are located in designated qualified census tracts or difficult development areas.
     If the building is not locater in a designated area, enter 100%.

     (2) Complete the Applicable Fraction section. Enter the lower of the proportion of low income units to total units based on area or unit count.

     (3) The Applicable Percentage is the appropriate percentage issued by the Internal Revenue Service for the month in which the building(s)
     is(are) placed in service, or the month in which the taxpayer and the HHFDC enter into a binding agreement as to the housing credit dollar
     amount to be allocated. The percentage is issued monthly by the Secretary of the Treasury and is available from the HHFDC.




EX F Tax Credit Calculation                                                                                                          Version 2009A
                                                              EXHIBIT F
                                                   Low Income Housing Tax Credit
                                                    Rehabilitation Threshold Test

          (1) See Section 42(c) and (d) of the appropriate percentage issued by the Internal Revenue Service basis.
         (2) The Applicable Percentage isthe Internal Revenue Code (IRC) for complete information on eligiblefor the month




         Total Rehabilitation Expenditures

         Rehabilitation Expenditures multiplied by Applicable Fraction



         Threshold test: Total Rehabilitation Expenditures must exceed the greater of the 2 requirements below:



         1. Total Rehab Expenditures Divided by Number of Low-Income Occupied Units




         2. Adjusted Building Basis                                              x 10%




         ACQUISITION CREDIT

         (1) There are special exceptions for buildings acquired from government agencies or buildings granted the 10-
         year acquisition waiver. See Section 42 of the IRC, in particular Sec. 42(e)(3)(B) and Sec. 42(d)(6).


          The Acquistion Credit may not be taken unless the Rehabilitation test is met. If eligible, the Eligible Basis
          calculation above will be a blend of the 9% rehabilitation expenditures and the 4% acquisition expenditures. The
          Acquisition Credit can generally be taken only if the building is acquired from a person who has owned it for
          longer than 10 years. There are exceptions to this rule; see Section 42(d).




EX F - TC Rehabilitation                                                                                                     Version 2009A
                                         Exhibit G
                                 Estimated Project Revenues



     HOMEOWNERSHIP PROJECTS

     Proposed Sales Prices

       a) 3 BR ____________ S.F. @ $____________ x ____________ = $____________


       b) 2 BR ____________ S.F. @ $____________ x ____________ = $____________


       c) 2 BR ____________ S.F. @ $____________ x ____________ = $____________


       d) 1 BR ____________ S.F. @ $____________ x ____________ = $____________


       e) Studio___________ S.F. @ $____________ x ____________ = $____________


       f)   4 BR ____________ S.F. @ $____________ x ____________ = $____________



     PARKING


       a) Garage                 @ $____________ x ____________ = $____________


       b) Open Space             @ $____________ x ____________ = $____________



     OTHER


       a)                                                        = $____________


       b)                                                        = $____________


       c)                                                        = $____________



                                                    TOTAL =        $____________




                                                                                    Version 2009A
EX. G EPR
                                                            Summary
Project Name:

Applicant Name:


City:                                                                     Type:                  New Construction
County:                                                                   # or Residential
Island:                                                                   # of Other
Zip Code:                                                                 # of Buildings
TMK:                                                                      Total Square Feet
                                                                          Land Tenure

Unit Breakdown                                                            Gap Analysis
  LIHTC Units                                                             Project Cost                                   $           -
  Affordable Units                                                        Sponsor Equity                                 $           -
  Market Units                                                            LIHTC                                          $           -
  Manager's Unit                                                          First Mortgage                                 $           -
Total Units                                                               Gap



Project Budget                                       (From Exhibit A Project Cost)
                                                           Per Unit             Per ft.2           % of Total Dev Cost       Total
Land and Building                                    $               -    $                  -                           $           -
Site Work                                            $               -    $                  -                           $           -
Rehabilitation and New Construction                  $               -    $                  -                           $           -
Contingency                                          $               -    $                  -                           $           -
Permits and Fees                                     $               -    $                  -                           $           -
Architectural and Design                             $               -    $                  -                           $           -
Interim Costs                                        $               -    $                  -                           $           -
Financing Costs                                      $               -    $                  -                           $           -
Soft Costs                                           $               -    $                  -                           $           -
Syndication Costs                                    $               -    $                  -                           $           -
Developer's Fee                                      $               -    $                  -                           $           -
Project Reserves                                     $               -    $                  -                           $           -

        Total                                        $               -    $                  -                           $           -



Construction Sources                                                      Permanent Sources
  Source                                                                  Source
  Sponsor Equity                      $       -                               Sponsor Equity                             $           -
  LIHTC Equity                        $       -                               LIHTC Equity                               $           -
                                      $       -                                                                          $           -
  RHTF Project Award                  $       -                               RHTF Project Award                         $           -
  RARF                                $       -                                                                          $           -
  DURF                                $       -                                                                          $           -
                                      $       -                                                                          $           -
                                      $       -                                                                          $           -
                                      $       -                                                                          $           -
                                      $       -                                                                          $           -
       Total                          $       -                                    Total                                 $           -




Hawaii Housing Finance and Development Corporation                 5 of 34                                                           Version 2009A
                                                              Summary
Project Name:
Financing Analysis


HHFDC Financing Requested
Annual LIHTC         Federal         $               -                       HMMF                 Volume Cap              $   -
                     State           $               -
                                                                             RARF                 Interim                 $   -
RHTF                 Interim         $               -
                     Permanent       $               -                       DURF                 Interim                 $   -
                     Grant           $               -



First Mortgage Analysis (Based on projected NOI)
                                            1.10              1.15                   1.20                    1.25
NOI
Interest Rate
Term (Months)
Debt Service (Annual)
Principal



DSC Test
      Year                                  1.10              1.15                   1.20                    1.25
        5                                  #DIV/0!           #DIV/0!                #DIV/0!                 #DIV/0!
       10                                  #DIV/0!           #DIV/0!                #DIV/0!                 #DIV/0!
       20                                  #DIV/0!           #DIV/0!                #DIV/0!                 #DIV/0!
       30                                  #DIV/0!           #DIV/0!                #DIV/0!                 #DIV/0!



CF Available after First Mortgage Debt Service
       Year                                  1.10             1.15                   1.20                    1.25
         5                           $               -   $              -    $                -   $                   -
        10                           $               -   $              -    $                -   $                   -
        20                           $               -   $              -    $                -   $                   -
        30                           $               -   $              -    $                -   $                   -


PUPA
Operating Expense
Replacement Res.

LIHTC
LIHTC (Max. Annual Award Possible)                           30% PV                                         70% PV
   Federal
   State
   Total

Assumptions
  LIHTC Applicable Percentage
  130% Basis Increase as QCT or DDA
  Pricing Federal LIHTC                                  $              -                         $                   -
  Pricing State LIHTC                                    $              -                         $                   -
  Blended LIHTC Pricing                                  $              -                         $                   -




Hawaii Housing Finance and Development Corporation                     6 of 34                                                Version 2009A
Total Development Budget/Eligible Basis                Ex. A   0
Total Development Budget                               Ex. B   0


Elgible Basis                                          Ex. A   0
Eligible Basis from Project Cost Breakdown Sheet 30%   Ex. F   0
Eligible Basis from Project Cost Breakdown Sheet 70%   Ex. F   0


Total Operating Expense                                Ex. D   0
Operating Expense                                      Ex. F   0

Replacement Reserves                                   Ex. D   0
Replacement Reserves                                   Ex. F   0

LIHTC Income                                           Ex. C   0
LIHTC Income                                           Ex. E   0

Affordable Income                                      Ex. C   0
Affordable Income                                      Ex. E   0

Market Income                                          Ex. C   0
Market Income                                          Ex. E   0




                                                               Version 2006A

				
DOCUMENT INFO
Description: Hawaii Mortgage Form document sample