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					                                                  SOURCES OF FUNDING

                        Project Name: 123 Apartments                               Date: Nov. 15, 2006

                                     HOME
                                     Match                                                                     Anticipated or Firm
Funding Source                       (check)     Committed           Conditional         Tentative             Commitment Date

OHCS GRANTS & EQUITY

LIHTC Equity                                                                                         851,185
HOME
Trust Fund
HELP
Alcohol & Drug Free Housing
LI Weatherization Program                                  53,839

OHCS LOANS

Tax Exempt Bonds                                        1,200,000                                                    ($1,400,000 = 54%)
HOME
Trust Fund
Alcohol & Drug Free Housing
ORR

NON-OHCS GRANTS



NON-OHCS LOANS

RD Permanent Loan (re-amortized)                          735,000


APPLICANT CONTRIBUTIONS

Cash
Deferred Development Fee                                   60,000


OTHER:

Cashflow During Rehab                                      40,876


                        SUBTOTALS                      $2,089,715                   $0          $851,185

TOTAL FUND SOURCES                                     $2,940,900
                                Surplus or Gap                 (0) (Note: Total Fund Sources must match "Total Project Cost" from
                                                                   Uses of Funding page.)

Other HCS non-equity sources:
                  Oregon Affordable Housing Tax Credit (OAHTC)                                           $0 (loan amount)
                            Seed Money Advance Loan                                                         (loan amount)
                              Predevelopment Loan                                                           (loan amount)

Other HOME Match (e.g., tax exemption)                     Source:                                             (amount)




  Fall 2006 Funding Pro Forma                                1 of 21                                                           OHCS
                                                                       USES OF FUNDING

           Project Name:                           123 Apartments               Date: Nov. 15, 2006

           IRS Setaside                                    20/50
           Number of Units:                                   48
           Residential Square Footage:                    36,030
           Common Areas:                                   1,070                                                       These two columns are for
           Commercial/other                                                                                            LIHTC APPLICANTS ONLY
           Total Square Footage:                          37,100

                                                      COSTS
                                                                            Cost
                                                       (A)                  per    Cost as                                              Estimated Gross
                                                     Original      Cost per Square % of                                 Reasonably        Expended by
                                                    Application    Unit     Foot   Total              Funding Source   Expected Basis    Carryover Date

           Acquisition Costs
                Purchase Price:
                    Land                                244,100      5,085      6.58     8.3%
                    Improvements                      1,755,900     36,581     47.33    59.7%                              $1,755,900
                Liens and Other Taxes                                    0      0.00     0.0%
                Closing/Recording                         6,500        135      0.18     0.2%                                  $6,500
                Extension Fees                                           0      0.00     0.0%
                Other:                                                   0      0.00     0.0%

                     Acquisition Costs Subtotal:     $2,006,500     41,802     54.08    68.2%                              $1,762,400               $0

           Construction Costs
                Off-site Work                                            0      0.00     0.0%
                On-site Work                                             0      0.00     0.0%
                Hazardous Materials Abatement                            0      0.00     0.0%
                Demolition                                               0      0.00     0.0%
                Residential Building                    345,000      7,188      9.30    11.7%                                $345,000
                Commercial Space/Building                                0      0.00     0.0%
                Common Use Facilities                                    0      0.00     0.0%
                Elevator                                                 0      0.00     0.0%
                Laundry Facilities                                       0      0.00     0.0%
                Storage/Garages                                          0      0.00     0.0%
                Landscaping                                              0      0.00     0.0%
                General Conditions                                       0      0.00     0.0%
                Contractor Liability Insurance                           0      0.00     0.0%
                Contractor Overhead                                      0      0.00     0.0%
                Contractor Profit                                        0      0.00     0.0%
                Contingency                               32,500       677      0.88     1.1%                                 $32,500
                FF&E (Common Area Furnishings)                           0      0.00     0.0%
                Internet Wiring & Equipment                              0      0.00     0.0%
                Other:                                                   0      0.00     0.0%

                   Construction Costs Subtotal:        $377,500      7,865     10.18    12.8%                                $377,500               $0

           Development Costs
                Land Use Approvals                                      0       0.00     0.0%                                      $0
                Building Permits/Fees                      3,500       73       0.09     0.1%                                  $3,500
                System Development Charges                              0       0.00     0.0%                                      $0
                Market Study                                            0       0.00     0.0%                                      $0
                Environmental Report                       3,500       73       0.09     0.1%                                  $3,500
                Lead Based Paint (Inc. w\Env.)                          0       0.00     0.0%                                      $0
                Asbestos Report (Inc. w\Env.)                           0       0.00     0.0%                                      $0
                Soils Report (Geotechnical)                             0       0.00     0.0%                                      $0
                Survey                                     4,500       94       0.12     0.2%                                  $4,500
                Marketing/Advertising                                   0       0.00     0.0%                                      $0
                Insurance                                               0       0.00     0.0%                                      $0
                Other: Roof Inspection                       350        7       0.01     0.0%                                   $350
                Other: Pest & Dry Rot                      1,500       31       0.04     0.1%                                  $1,500

           General Fees
                Architectural                             20,000       417      0.54     0.7%                                 $20,000
                SPD Architectural Review Fee                             0      0.00     0.0%                                      $0
                Engineering                                              0      0.00     0.0%                                      $0
                Legal/Accounting                          10,000       208      0.27     0.3%                                 $10,000
                Cost Certification                                       0      0.00     0.0%                                      $0
                Appraisals (+ Market Study)                8,500       177      0.23     0.3%                                  $8,500
                Special Inspections/Testing                              0      0.00     0.0%                                      $0
                Developer Fee                           250,000      5,208      6.74     8.5%                                $250,000
                Consultant Fee                           25,000        521      0.67     0.9%                                 $25,000
                Lock Rate Fee                                            0      0.00     0.0%                                      $0
                Project Management Fee                                   0      0.00     0.0%                                      $0
                Other:                                                   0      0.00     0.0%                                      $0


Fall 2006 Funding Pro Forma                                                  2 of 21                                                               OHCS
                                                                        USES OF FUNDING

           Project Name:                          123 Apartments                 Date: Nov. 15, 2006

           IRS Setaside                                     20/50
           Number of Units:                                    48
           Residential Square Footage:                     36,030
           Common Areas:                                    1,070                                                            These two columns are for
           Commercial/other                                                                                                  LIHTC APPLICANTS ONLY
           Total Square Footage:                           37,100

                                                       COSTS
                                                                             Cost
                                                      (A)                    per    Cost as                                                   Estimated Gross
                                                    Original        Cost per Square % of                                      Reasonably        Expended by
                                                   Application      Unit     Foot   Total              Funding Source        Expected Basis    Carryover Date

           Construction Loan Costs/Fees
                Lender Inspection Fees                      1,500       31       0.04     0.1%                                       $1,500
                Lender Title Insurance                      2,500       52       0.07     0.1%                                       $2,500
                Lender Legal Fees                          10,000      208       0.27     0.3%                                      $10,000
                Loan Fees                                  19,800      413       0.53     0.7%                                      $19,800
                Loan Closing Fees                             750       16       0.02     0.0%                                        $750
                Property Taxes (Construction Period)                     0       0.00     0.0%
                Insurance                                                0       0.00     0.0%

           Bridge Loan Fees
                Bridge Loan Legal                                         0      0.00     0.0%
                Bridge Loan Trustee                                       0      0.00     0.0%
                Bridge Loan Underwriting                                  0      0.00     0.0%

           Permanent Loan Fees
               Perm. Loan Application Fee                   1,500       31       0.04     0.1%
               Perm. Loan Fee                              28,000      583       0.75     1.0%
               Perm. Loan Closing Fees                      5,000      104       0.13     0.2%

           Tax Credit Fees
                Tax Credit Fee                              5,000      104       0.13     0.2%                                       $5,000
                Tax Credit Cost Certification               4,000       83       0.11     0.1%                                       $4,000
                Tax Credit Legal/Advisor Fee               35,000      729       0.94     1.2%                                      $35,000

           Bond Issuance Fees
                Cost of Bond Issuance                      28,000      583       0.75     1.0%
                Negative Arbitrage                                       0       0.00     0.0%
                Bond Cost Certification                     4,000       83       0.11     0.1%
                Other:                                                   0       0.00     0.0%

           Interest
                 Construction Period                       60,000     1,250      1.62     2.0%                                      $60,000
                 Bridge Loan                                              0      0.00     0.0%
                 Other:                                                   0      0.00     0.0%
                 Other:                                                   0      0.00     0.0%

           Reserves/Contingency
                Lease Up/Operating                                       0       0.00     0.0%
                Development                                20,000      417       0.54     0.7%                                      $20,000
                Tenant Relocation                           5,000      104       0.13     0.2%                                       $5,000
                Deposit to Replacement Reserves                          0       0.00     0.0%
                Contigency Escrow Account (3%)                           0       0.00     0.0%
                Other:                                                   0       0.00     0.0%
                Other:                                                   0       0.00     0.0%

                   Development Costs Subtotal:          $556,900     11,602     15.01    18.9%                                     $490,400               $0

                 TOTAL PROJECT COST                    $2,940,900 61,269        79.27   100.0%                                   $2,630,300               $0
           Surplus or Gap                                       0
           Developers Fee Percentage                       10.32%

                                                                               FOR LIHTC PROJECTS

                                                                    Total of the amount to be expended by Carryover Date                 $0
                                                                                            Divided by Total Project Costs       $2,940,900
                                                         Equals the percent of estimated cost expended by Carryover Date              0.00%




Fall 2006 Funding Pro Forma                                                   3 of 21                                                                    OHCS
  HOUSING OPERATING BUDGET - INCOME

         Project Name:     123 Apartments
                  Date:           Nov. 15, 2006
                  County:         Umatilla
 ANNUAL Residential Income:                                         Annual Inflation Rate Factor:   3.00%

                                  Gross                  Tenant          Net
                          Median Monthly                  Paid         Monthly
  Unit   Unit # of Square Income Rent Per                 Utility       Rent             Number
  Size   Type Baths Feet     %     Unit                   Allow        Per Unit          of Units               1            2           3           4           5           10          15          20          30

      1 Bdr       1.0      607        55         523 -        38 =          485   X 12        18     =        104,760     107,903       111,140     114,474     117,908     136,688     158,459     183,697     246,874
      2 Bdr       1.0      792        50         560 -        40 =          520   X 12        24     =        149,760     154,253       158,880     163,647     168,556     195,403     226,525     262,605     352,919
      3 Bdr       1.0    1,016        49         644 -        54 =          590   X 12         6     =         42,480      43,754        45,067      46,419      47,812      55,427      64,255      74,489     100,107
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0
        Bdr                            0             -           =            0   X 12               =              0           0             0           0           0           0           0           0           0

  SUB-TOTALS                                                                                  48     =        297,000     305,910       315,087     324,540     334,276     387,518     449,239     520,791     699,900

 Service Revenue:                                                                                     Total Annual Income

 Medicaid-Resident Services (Averaged)                                                                                            0           0           0           0           0           0           0           0
 Private-Resident Services (Averaged)                                                                                             0           0           0           0           0           0           0           0
 Other:                                                                                                                           0           0           0           0           0           0           0           0
 Other:                                                                                                                           0           0           0           0           0           0           0           0

 Other Revenue:

 Laundry                                                                                                        3,600        3,708        3,819       3,934       4,052       4,697       5,445       6,313       8,484
 Garage/Parking                                                                                                                  0            0           0           0           0           0           0           0
 Deposits on Turnover                                                                                                            0            0           0           0           0           0           0           0
 Commercial Space:                                                                                                               0            0           0           0           0           0           0           0
 Cable TV                                                                                                                        0            0           0           0           0           0           0           0
 Interest Income                                                                                                                 0            0           0           0           0           0           0           0
 Application Fees                                                                                                                0            0           0           0           0           0           0           0
 Guest Meals                                                                                                                     0            0           0           0           0           0           0           0
 Internet Access Fees                                                                                                            0            0           0           0           0           0           0           0
 Other:                                                                                                                          0            0           0           0           0           0           0           0

  SUB-TOTAL OTHER REVENUE                                                                                       3,600        3,708        3,819       3,934       4,052       4,697       5,445       6,313       8,484

  Gross Income:                                                                                               300,600     309,618       318,907     328,474     338,328     392,215     454,684     527,104     708,384

 Less Vacancy Rate                   5%                                                                       (15,030)      (15,481)    (15,945)    (16,424)    (16,916)    (19,611)    (22,734)    (26,355)    (35,419)

  Effective Gross Income:                                                                                   285,570      294,137       302,961     312,050     321,412     372,604     431,950     500,749     672,964

 Note: Projects that provide care services (e.g., Assisted Living Facilities) need to delineate the service levels and
 anticipated revenue as well as the basic monthly rents on a separate page.


Fall 2006 Funding Pro Forma                                                                                   4 of 21                                                                                          OHCS
HOUSING OPERATING BUDGET - EXPENSES

            Project Name: 123 Apartments

            Date:         Nov. 15, 2006             Annual Inflation Rate Factor:       4.00%

                                           Annual per
Annual Operating Expenses                     Unit          1             2             3           4          5         10         15         20         30

Insurance                                         188        9,000         9,360         9,734      10,124     10,529     12,810     15,585     18,962     28,068

Utilities:(common areas)
              Gas/Oil                               0                         0              0           0          0          0          0          0          0
              Electric                            156        7,500        7,800          8,112       8,436      8,774     10,675     12,988     15,801     23,390
              Water & Sewer                       333       16,000       16,640         17,306      17,998     18,718     22,773     27,707     33,710     49,898
              Garbage Removal                     229       11,000       11,440         11,898      12,374     12,868     15,656     19,048     23,175     34,305
              Cable TV                              0                         0              0           0          0          0          0          0          0

Repairs                                           198        9,500        9,880         10,275      10,686     11,114     13,521     16,451     20,015     29,627
General Maintenance                               198        9,500        9,880         10,275      10,686     11,114     13,521     16,451     20,015     29,627
Landscape Maintenance                             167        8,000        8,320          8,653       8,999      9,359     11,386     13,853     16,855     24,949
Replacement Reserve                               350       16,800       17,472         18,171      18,898     19,654     23,912     29,092     35,395     52,393

Property Management:
           On-site                                419       20,120       20,925         21,762      22,632     23,538     28,637     34,841     42,390     62,747
           Contracted (Off-Site)                  502       24,111       25,075         26,078      27,122     28,206     34,317     41,752     50,798     75,194

Professional Services:
            Resident Services                       0                          0             0           0          0          0          0          0          0
            Case Management                         0                          0             0           0          0          0          0          0          0
            Legal                                  16          750           780           811         844        877      1,067      1,299      1,580      2,339
            Accounting                             90        4,300         4,472         4,651       4,837      5,030      6,120      7,446      9,059     13,410
            Compliance Monitoing Fees              34        1,610         1,674         1,741       1,811      1,883      2,292      2,788      3,392      5,021

Office & Administration                            63        3,000         3,120         3,245       3,375      3,510      4,270      5,195      6,321      9,356
Advertising/Marketing & Promotion                  16          750           780           811         844        877      1,067      1,299      1,580      2,339
Unit Turnover                                      52        2,500         2,600         2,704       2,812      2,925      3,558      4,329      5,267      7,797
Taxes(non-real estate)                              0                          0             0           0          0          0          0          0          0
Real Estate Taxes                                 198        9,500         9,880        10,275      10,686     11,114     13,521     16,451     20,015     29,627
Payroll Taxes                                      63        3,000         3,120         3,245       3,375      3,510      4,270      5,195      6,321      9,356
Internet Connection Fee                             0                          0             0           0          0          0          0          0          0
Other:                                              0                          0             0           0          0          0          0          0          0
Other:                                              0                          0             0           0          0          0          0          0          0

Total Annual Operating Expenses:               3,270     156,941       163,219       169,747      176,537    183,599    223,376    271,771    330,651    489,444

Less Debt Service:

Permanent loan
Rate       Term (Years) Loan Amount
     6.40%           40     1,200,000           1,735       83,282       83,282         83,282      83,282     83,282     83,282     83,282     83,282     83,282
OAHTC Permanent loan
Rate       Term (Years) Loan Amount
    -4.00%           1              0               0            0             0              0         0          0          0          0          0          0

Portion of perm loan w/o OAHTC (if applicable)
                      1                          0               0             0              0         0          0          0          0          0          0
Deferred Developer Fee
Rate        Term (Years) Loan Amount
                      11        60,000         114           5,455         5,455         5,455       5,455      5,455      5,455         0          0            0
Amortized Debt (HOME Loan, ,
Partnership Loans,etc.)
Rate        Term (Years) Loan Amount
     1.00%            30       735,000         591          28,369       28,369         28,369      28,369     28,369     28,369     28,369     28,369     28,369
                        1                        0               0            0              0           0          0          0          0          0          0
                        1                        0               0            0              0           0          0          0          0          0          0

WITHOUT OAHTC

Effective Gross Income:                        5,949      285,570      294,137        302,961     312,050    321,412    372,604    431,950    500,749    672,964
Total Annual Operating Expenses:               3,270      156,941      163,219        169,747     176,537    183,599    223,376    271,771    330,651    489,444
Net Operating Income:                          2,680      128,629      130,918        133,214     135,513    137,813    149,228    160,179    170,098    183,520
Primary Debt Service                           1,735       83,282       83,282         83,282      83,282     83,282     83,282     83,282     83,282     83,282
Total Debt Service                             2,440      117,105      117,105        117,105     117,105    117,105    117,105    111,651    111,651    111,651
Cash Flow Per Year                               240       11,524       13,813         16,109      18,408     20,708     32,123     48,529     58,447     71,869
Primary Debt Coverage Ratio                      1.54         1.54         1.57           1.60        1.63       1.65       1.79       1.92       2.04       2.20
Total Debt Coverage Ratio                        1.10         1.10         1.12           1.14        1.16       1.18       1.27       1.43       1.52       1.64




 Fall 2006 Funding Pro Forma                                                        5 of 21                                                               OHCS
HOUSING OPERATING BUDGET - EXPENSES

           Project Name: 123 Apartments

           Date:         Nov. 15, 2006             Annual Inflation Rate Factor:       4.00%

                                          Annual per
Annual Operating Expenses                    Unit          1             2             3          4           5           10          15          20          30


WITH OAHTC

Effective Gross Income:                    #DIV/0!             0             0              0           0           0           0           0           0           0
Total Annual Operating Expenses:              3,270     156,941       163,219        169,747     176,537     183,599     223,376     271,771     330,651     489,444
Net Operating Income:                      #DIV/0!     (156,941)     (163,219)      (169,747)   (176,537)   (183,599)   (223,376)   (271,771)   (330,651)   (489,444)
Primary Debt Service                               0           0             0              0           0           0           0           0           0           0
Total Debt Service:                             705      33,823        33,823         33,823      33,823      33,823      33,823      28,369      28,369      28,369
Cash Flow Per Year:                        #DIV/0!     (190,764)     (197,042)      (203,571)   (210,360)   (217,422)   (257,199)   (300,140)   (359,020)   (517,813)
Primary Debt Coverage Ratio:               #DIV/0!     #DIV/0!       #DIV/0!        #DIV/0!     #DIV/0!     #DIV/0!     #DIV/0!     #DIV/0!     #DIV/0!     #DIV/0!
Total Debt Coverage Ratio:                 #DIV/0!         -4.64         -4.83          -5.02       -5.22       -5.43       -6.60       -9.58      -11.66      -17.25




 Fall 2006 Funding Pro Forma                                                       6 of 21                                                                    OHCS
                                UTILITY ALLOWANCE INFORMATION

                    Project Name: 123 Apartments               Date:       Nov. 15, 2006

                      TYPE OF
                       UTILITY
                     (Gas, elec.,    OWNER       TENANT
 UTILITIES             Oil,etc.)      PAYS        PAYS         0 BDRM 1 BDRM 2 BDRM 3 BDRM 4 BDRM

 Heating                                X
 Lighting                               X
 Air Conditioning                       X
 Cooking                                X
 Hot Water                              X
 Water                                               X
 Sewer                                               X
 Trash Removal                                       X

 TOTAL UTILITY
 ALLOWANCE                                                             0         38        40   54    0


 Source of Utility Allowance Calculation: (Attach a Copy)

                    Local Housing Authority
                    Utility Company
                    Other

 If allowances are calculated by other methods, attach the appropriate schedule and include
 unit rents, number of bedrooms, and allowances

 * Per RD approved allowance based on actual usage and cost




Fall 2006 Funding Pro Forma                          7 of 21                                         OHCS
                                                       PRO FORMA SUMMARY

Project Name:                                       123 Apartments                  Date:

Total Project Costs:                                 $2,940,900
Number of Units:                                              48
Total Square Footage:                                     37,100

                                                                                                       Total per Sq.
                                                                     Total Costs    Total per Unit           Ft      % Total Costs % of EGI

Effective Gross Income:                                                 300,600               6,263           8.10        10.22%       100.00%
Less Vacancy Rate                                                            5%
Net Effective Gross Income:                                             285,570               5,949           7.70         9.71%        95.00%
Total Annual Operating Expenses:                                        156,941               3,270           4.23         5.34%        52.21%
Net Operating Income                                                   128,629              2,680            3.47         4.37%        42.79%
Primary Debt Service                                                      83,282              1,735           2.24         2.83%        27.71%
Primary Cash Flow                                                         45,347                945           1.22         1.54%        15.09%
Secondary Debt Service                                                    33,823                705           0.91         1.15%        11.25%
Final Cash Flow                                                           11,524                                                         3.83%
Primary Debt Coverage Ratio                                                 1.54
Total Debt Coverage Ratio                                                   1.10

With OAHTC

Effective Gross Income:                                                       0                   0           0.00         0.00%     #DIV/0!
Less Vacancy Rate                                                            5%
Net Effective Gross Income:                                                   0                   0           0.00         0.00%     #DIV/0!
Total Annual Operating Expenses:                                        156,941               3,270           4.23         5.34%     #DIV/0!
Net Operating Income                                                  (156,941)             (3,270)         (4.23)       -5.34%      #DIV/0!
Primary Debt Service                                                          0                   0            0.00         0.00%    #DIV/0!
Primary Cash Flow                                                      (156,941)             (3,270)          (4.23)       -5.34%    #DIV/0!
Secondary Debt Service                                                   33,823                 705            0.91         1.15%    #DIV/0!
Final Cash Flow                                                        (190,764)             (3,974)          (5.14)       -6.49%    #DIV/0!
Primary Debt Coverage Ratio                                           #DIV/0!
Total Debt Coverage Ratio                                                 (4.64)

Developer Fee:                                                          275,000               5,729           7.41        10.32%
Percent of Developer Fee:                                                10.32%
Deferred Developer Fee:                                                   60,000              1,250           1.62         2.25%
Percentage of Developer Fee Deffered:                                     2.25%

Development Costs:                                                      556,900              11,602          15.01        18.94%
% Development Costs:                                                     18.94%
% Development Contingency:                                                3.59%

Construction Costs:                                                     377,500               7,865          10.18        12.84%
Construction Contingency:                                                32,500              11,602          15.01        18.94%
% Construction Contingency:                                               8.61%
Architect Fee:                                                           20,000                   0           3.01         3.80%
% Architect Fee:                                                          5.30%

Management Fee On-site:                                                   20,120               419            0.54         0.68%
Management Fee Off-site:                                                  24,111               502            0.65         0.82%
Total management Fees:                                                    44,231               921            1.19         1.50%

Replacement Reserve:                                                      16,800               350            0.45         0.57%
Repairs:                                                                   9,500               198            0.26         0.32%
Maintenance:                                                               9,500               198            0.26         0.32%

Debt That Can Be Carried by Project:
Debt Coverage Ratio Assumed (for worksheet below)           1.15

Without OAHTC                                       Year                        1                5               10            15             20           25            30
Available for Debt                                      111,851          111,851          119,837          129,764       139,286        147,911      154,972       159,583
Max Loan at DCR                                       1,601,528        1,601,528        1,715,873        1,858,002     1,994,351      2,117,844    2,218,942     2,284,963
Primary Debt Remaining Principal                              0        1,192,992        1,160,176        1,105,869     1,031,813        930,825      793,111       605,314

With OAHTC
Available for Debt                                     (136,470)        (136,470)        (141,929)        (194,240)     (236,323)      (287,523)    (349,815)     (425,604)
Max Loan at DCR                                        (290,237)        (142,157)        (147,843)        (202,333)     (246,169)      (299,503)    (364,391)     (443,337)
Primary Debt Remaining Principal                              0                0        #NUM!            #NUM!         #NUM!          #NUM!        #NUM!         #NUM!
Remaining Debt on Principal wo OAHTC                          0                0        #NUM!            #NUM!         #NUM!          #NUM!        #NUM!         #NUM!
Total Remaining Debt                                          0                0        #NUM!            #NUM!         #NUM!          #NUM!        #NUM!         #NUM!

Deferred Developer Fee Remaining Principal              60,000           54,545              32,727          5,455             0             0            0              0
Secondary Debt Remaining Principal                     735,000          713,870             627,216        513,935       394,875       269,741      138,225              0
Secondary Debt Remaining Principal                           0                0                   0              0             0             0            0              0
Secondary Debt Remaining Principal                           0                0                   0              0             0             0            0              0




     Fall 2006 Funding Pro Forma                                              8 of 21                                                                     OHCS
Fall 2006 Funding Pro Forma   9 of 21   OHCS
                                                   CALCULATION OF TAX CREDIT

         Project Name:        123 Apartments
         Date:

Tax credits are calculated on an annual basis. The total tax credit receive is equal to 10 times the
annual credit
                                                                                                               Yes               No

Qualified Census Tract (QCT) or Difficult to Develop Area (DDA) ?                                               X

        Enter QCT number
           Enter DDA area                                    Union County


Indicate whether your project is qualified for:

30% Net Present Value                             (Place X under "Yes" if applicable)                           X
70% Net Present Value                             (Place X under "Yes" if applicable)
Both 30% & 70%                                    (Place X under "Yes" if applicable)

                                                                                                              30%                70%

Total Project Costs                   Use applicable column (30%, 70% or both) for data entry                 2,940,900

         Less land; amortized and other ineligible costs *                                                      310,600

Eligible Basis

         Less portion of federal grant used to finance qualifying developments
         Less amounts of nonqualified nonrecourse financing
         Less nonqualifying costs or units of higher quality
         Less Section 48 Rehabilitation Tax Credit
         Less Historic Tax Credit (Rresidential Portion Only)


Total Eligible Basis                                                                                          2,630,300                  0

         (Change to 130% if high cost or qualified census tract)                                                     100%              100%

Adjusted Eligible Basis                                                                                       2,630,300                  0

         Multiplied by the applicable fraction                                                                       100%              100%

Total Qualified Basis                                                                                         2,630,300                  0

         Multiplied by the applicable percentage       (Month/Year used? 00/00 )                                     3.48%

Total Amount Of Tax Credit Allowable                                                                                91,534               0

Total Amount Of Tax Credit Requested                                                                            $91,534

Total Tax Credits for 10 Years                                                                                 $915,344                 $0

Tax Credit Yield                                                                                                    0.9300

Tax Credit Equity                                                                                              $851,270                 $0

         Percentage of Limited Partnership proceeds                                                                 99.99%

Net Tax Credit Investor Proceeds                                                                               $851,185                 $0

         * If total ineligible costs does not equal total costs less reasonable basis from Uses of Funding form, explain here.




Fall 2006 Funding Pro Forma                                        10 of 21                                                            OHCS
  HOUSING OPERATING BUDGET - INCOME WITH OAHTC

          Project Name:     123 Apartments
                   Date:
                   County:         Umatilla
  ANNUAL Residential Income:                                           Annual Inflation Rate Factor: 3.00%

                                   Gross                    Tenant           Net
                           Median Monthly                    Paid          Monthly
   Unit   Unit # of Square Income Rent Per                   Utility        Rent             Number
   Size   Type Baths Feet     %     Unit                     Allow         Per Unit          of Units           1             2       3       4       5       10       15       20       30

          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0
          Bdr                           0               -              =          0   X 12              =            0            0       0       0       0        0        0        0          0

   SUB-TOTALS                                                                                           =            0            0       0       0       0        0        0        0          0

  Service Revenue:                                                                                      Total Annual Income

  Medicaid-Resident Services (Averaged)                                                                                           0       0       0       0        0        0        0          0
  Private-Resident Services (Averaged)                                                                                            0       0       0       0        0        0        0          0
  Other:                                                                                                                          0       0       0       0        0        0        0          0
  Other:                                                                                                                          0       0       0       0        0        0        0          0

  Other Revenue:

  Laundry                                                                                                                         0       0       0       0        0        0        0          0
  Garage/Parking                                                                                                                  0       0       0       0        0        0        0          0
  Deposits on Turnover                                                                                                            0       0       0       0        0        0        0          0
  Commercial Space:                                                                                                               0       0       0       0        0        0        0          0
  Cable TV                                                                                                                        0       0       0       0        0        0        0          0
  Interest Income                                                                                                                 0       0       0       0        0        0        0          0
  Application Fees                                                                                                                0       0       0       0        0        0        0          0
  Guest Meals                                                                                                                     0       0       0       0        0        0        0          0
  Other:                                                                                                                          0       0       0       0        0        0        0          0
  Other:                                                                                                                          0       0       0       0        0        0        0          0

   SUB-TOTAL OTHER REVENUE                                                                                           0            0       0       0       0        0        0        0          0

  Gross Income:                                                                                                      0            0       0       0       0        0        0        0          0

  Less Vacancy Rate                   5%                                                                             0            0       0       0       0        0        0        0          0

  Effective Gross Income:                                                                                            0            0       0       0       0        0        0        0          0

  Note: Projects that provide care services (e.g., Assisted Living Facilities) need to delineate the service levels and
  anticipated revenue as well as the basic monthly rents on a separate page.


Fall 2006 Funding Pro Forma                                                                                    11 of 21                                                                  OHCS
                                                    PAYMENTS COMPUTED ANNUALLY
                                                  OAHTC RENT REDUCTION CALCULATION

 Project Name: 123 Apartments
          Date:

                                                  WITH OAHTC                  W/O OAHTC

LOAN AMOUNT:                                               $0
INTEREST RATE:                                        -4.000%
NUMBER OF YEARS TO AMORTIZE:                                 1                                1
NUMBER OF YEARS TAX CREDITS TAKEN:                           1                                1
MONTHLY PAYMENT AMOUNT:                                    $0                               $0
INTEREST RATE REDUCTION:                                4.00%
TOTAL TAX CREDIT ALLOWED:                                  $0
NUMBER OF UNITS:                                            18
RENT REDUCTION UNIT/MONTH:                                 $0
ANNUAL RENT PASS THROUGH:                                  $0


Required OAHTC Annual Pass Through                          0             0
Actual OAHTC Annual Pass Through                         516        297,000
Amount over/under required pass through                  516        297,000


               LOAN AMORTIZATION                                                   MAXIMUM ANNUAL TAX CREDIT

                                                  ENDING                        PRINCIPAL         AVERAGE    AVERAGE     TAX
     YEAR      INTEREST              PRINCIPAL    BALANCE         YEAR          REDUCTION         INTEREST   BALANCE    CREDIT


       1                        $0           $0             $0       1                      $0          $0         $0        $0




Fall 2006 Funding Pro Forma                                      12 of 21                                                  OHCS
OREGON HOUSING AND COMMUNITY SERVICES
LOW-INCOME HOUSING TAX CREDIT PROGRAM RENTS
As verified with www.novoco.com rent and income calculator
Low-income rents by county (as of Feb 05** Published February 11, 2005)
Based on HUD's published Section 8 Income Limits
Using 1 person for 0 bedroom and 1.5 persons per bedroom for 1-4 bedroom units
Deduct utility allowances from these rents to get gross allowable rents
Consult tax advisor to assure your management plan's compliance with program
Section 8 income limits by county (or non-PMSA average if greater)
Affordable rents are defined as 30% of income, including tenant paid utilities
Prepared for LIHTC program information and internal use only

                                    30% MEDIAN INCOME RENTS                              35% MEDIAN INCOME RENTS                     40% MEDIAN INCOME RENTS                     45% MEDIAN INCOME RENTS                     50% MEDIAN INCOME RENTS                     55% MEDIAN INCOME RENTS                     60% MEDIAN INCOME RENTS
COUNTY                    0 BDR      1 BDR     2 BDR    3 BDR           4 BDR    0 BDR    1 BDR     2 BDR    3 BDR   4 BDR   0 BDR    1 BDR     2 BDR    3 BDR   4 BDR   0 BDR    1 BDR     2 BDR    3 BDR   4 BDR   0 BDR    1 BDR     2 BDR    3 BDR   4 BDR   0 BDR    1 BDR     2 BDR    3 BDR   4 BDR   0 BDR    1 BDR     2 BDR    3 BDR   4 BDR

BAKER                         253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
BENTON                        358       383        460         531        592      417      447      536       620     691     477      510      613       708     790     536      574      689       797     888     596      638      766       885     987     656      702      843       974   1,086     715      766      919     1,062   1,184
CLACKAMAS                     356       382        458         529        591      415      445      534       617     690     474      509      610       706     788     534      572      687       794     887     593      636      763       882     985     652      700      839       970   1,084     712      763      916     1,058   1,182
CLATSOP                       283       303        364         420        469      330      354      424       490     547     377      404      485       560     625     424      455      545       630     703     471      505      606       700     781     518      556      667       770     859     565      606      727       840     937
COLUMBIA                      356       382        458         529        591      415      445      534       617     690     474      509      610       706     788     534      572      687       794     887     593      636      763       882     985     652      700      839       970   1,084     712      763      916     1,058   1,182
COOS                          253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
CROOK                         259       278        334         385        430      302      324      389       449     501     346      370      445       514     573     389      417      500       578     644     432      463      556       642     716     475      509      612       706     788     518      556      667       770     859
CURRY                         253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
DESCHUTES                     309       331        397         458        511      361      386      463       535     596     412      441      529       611     682     464      496      595       688     767     515      551      661       764     852     567      606      727       840     937     618      661      793       917   1,022
DOUGLAS                       253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
GILLIAM                       262       280        336         388        433      305      326      392       453     505     349      373      448       518     578     392      419      504       582     650     436      466      560       647     722     480      513      616       712     794     523      559      672       776     866
GRANT                         253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
HARNEY                        253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
HOOD RIVER                    265       284        341         394        440      309      332      398       460     513     354      379      454       526     586     398      427      511       591     660     442      474      568       657     733     486      521      625       723     806     530      569      682       788     880
JACKSON                       277       297        357         412        460      323      347      417       481     537     370      396      476       550     614     416      446      536       618     690     462      495      595       687     767     508      545      655       756     844     554      594      714       824     920
JEFFERSON                     253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
JOSEPHINE                     253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
KLAMATH                       253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
LAKE                          253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
LANE                          287       308        369         427        476      335      359      431       498     555     382      410      492       569     634     430      462      554       640     714     478      513      615       711     793     526      564      677       782     872     574      616      738       853     952
LINCOLN                       253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
LINN                          280       300        361         416        464      327      350      421       486     541     374      400      481       555     618     420      450      541       625     696     467      500      601       694     773     514      550      661       763     850     560      600      721       833     928
MALHEUR                       253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
MARION                        298       319        383         443        494      348      372      447       517     576     398      426      510       590     658     447      479      574       664     741     497      532      638       738     823     547      585      702       812     905     596      638      766       886     988
MORROW                        259       278        334         385        430      302      324      389       449     501     346      370      445       514     573     389      417      500       578     644     432      463      556       642     716     475      509      612       706     788     518      556      667       770     859
MULTNOMAH                     356       382        458         529        591      415      445      534       617     690     474      509      610       706     788     534      572      687       794     887     593      636      763       882     985     652      700      839       970   1,084     712      763      916     1,058   1,182
POLK                          298       319        383         443        494      348      372      447       517     576     398      426      510       590     658     447      479      574       664     741     497      532      638       738     823     547      585      702       812     905     596      638      766       886     988
SHERMAN                       277       297        357         412        460      323      347      417       481     537     370      396      476       550     614     416      446      536       618     690     462      495      595       687     767     508      545      655       756     844     554      594      714       824     920
TILLAMOOK                     257       275        331         382        426      300      321      386       445     497     342      367      441       509     568     385      413      496       572     639     428      459      551       636     710     471      505      606       700     781     514      551      661       763     852
UMATILLA                      267       286        343         396        442      312      333      400       462     515     356      381      457       528     589     401      428      514       594     662     445      476      571       660     736     490      524      628       726     810     534      571      685       792     883
UNION                         259       277        333         384        429      302      323      389       448     501     345      369      444       512     572     388      415      500       576     644     431      461      555       640     715     474      507      611       704     787     517      553      666       768     858
WALLOWA                       253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
WASCO                         272       291        349         404        451      317      340      407       471     526     362      388      466       538     601     408      437      524       606     676     453      485      582       673     751     498      534      640       740     826     544      582      698       808     901
WASHINGTON                    356       382        458         529        591      415      445      534       617     690     474      509      610       706     788     534      572      687       794     887     593      636      763       882     985     652      700      839       970   1,084     712      763      916     1,058   1,182
WHEELER                       253       271        326         377        420      295      316      380       440     490     338      362      434       502     560     380      407      489       565     630     422      452      543       628     700     464      497      597       691     770     506      542      652       754     840
YAMHILL                       356       382        458         529        591      415      445      534       617     690     474      509      610       706     788     534      572      687       794     887     593      636      763       882     985     652      700      839       970   1,084     712      763      916     1,058   1,182




Fall 2006 Funding Pro Forma                                                                                                                                                                                                                                                                                                                              OHCS
                      OREGON HOUSING AND COMMUNITY SERVICES
                                  HOME PROGRAM RENTS


FY 2005 Fair Market Rents as of 10/03/05 & updated 03/06/06            Oregon Housing & Community Services
2006 HOME Program Rents, effective May 3, 2006                          PO Box 14508, Salem, OR 97309-0409
                                                                                              503/986-2108


MSA / County                            Studio   1 Bdrm       2 Bdrm     3 Bdrm   4 Bdrm   5 Bdrm   6 Bdrm

Bend                          FMR         488       567         676         985    1,015    1,167    1,320
Deschutes                     LOW         488       551         661         764      852      940    1,029
                              HIGH        488       567         676         959    1,015    1,140    1,231

Corvallis                     FMR         461       560         697       1,013    1,165    1,340    1,515
Benton                        LOW         461       560         697         885      987    1,089    1,191
                              HIGH        461       560         697       1,013    1,165    1,334    1,443

Eugene-Springfield            FMR         462       561         710         993    1,105    1,271    1,437
Lane                          LOW         462       513         615         711      793      875      957
                              HIGH        462       561         710         890      974    1,056    1,138

Medford-Ashland               FMR         455       540         679         988    1,017    1,170    1,322
Jackson                       LOW         455       495         595         687      767      846      925
                              HIGH        455       540         679         860      940    1,019    1,098

Portland-Vancouver            FMR         539       625         723       1,053    1,265    1,455    1,645
Clackamas, Columbia,          LOW         539       625         723         882      985    1,086    1,188
Multnomah, Washington         HIGH        539       625         723       1,053    1,223    1,331    1,439
Yamhill

Salem                         FMR         468       520         622         904    1,090    1,254    1,417
Marion, Polk                  LOW         468       520         622         738      823      908      994
                              HIGH        468       520         622         904     1013    1,099    1,186

Baker                         FMR         357       415         548         797      821     944     1,067
                              LOW         357       415         543         628      700     773       845
                              HIGH        357       415         548         782      821     923       993

Clatsop                       FMR         405       503         622         900      928    1,067    1,206
                              LOW         405       503         606         700      781      861      943
                              HIGH        405       503         622         877      928    1,039    1,121

Coos                          FMR         389       471         597         792      912    1,049    1,186
                              LOW         389       452         543         628      700      773      845
                              HIGH        389       471         597         782      853      923      993

Crook                         FMR         384       494         591         800      936    1,076    1,217
                              LOW         384       463         556         642      716      790      864
                              HIGH        384       494         591         800      874      945    1,018

Curry                         FMR         439       505         596         871    1,051    1,209    1,366
                              LOW         422       452         543         628      700      773      845
                              HIGH        439       505         596         782      853      923      993

Douglas                       FMR         380       453         584         792      980    1,127    1,274
                              LOW         380       452         543         628      700      773      845
                              HIGH        380       453         584         782      853      923      993


Fall 2006 Funding Pro Forma                                                                                  Page 14 of 21
Gilliam                       FMR    412   483   583   790    924    1,063   1,201
                              LOW    412   466   560   647    722      796     871
                              HIGH   412   483   583   790    881      953   1,026

Grant                         FMR    412   483   583   790    924    1,063   1,201
                              LOW    412   452   543   628    700      773     845
                              HIGH   412   483   583   782    853      923     993

Harney                        FMR    369   429   540   746    794     913    1,032
                              LOW    369   429   540   628    700     773      845
                              HIGH   369   429   540   746    794     913      993

Hood River                    FMR    415   514   640   911    940    1,081   1,222
                              LOW    415   474   568   657    733      809     885
                              HIGH   415   514   640   822    896      971   1,046

Jefferson                     FMR    460   490   555   807    909    1,045   1,182
                              LOW    422   452   543   628    700      773     845
                              HIGH   460   490   555   782    853      923     993

Josephine                     FMR    445   510   617   877    974    1,120   1,266
                              LOW    422   452   543   628    700      773     845
                              HIGH   445   510   617   782    853      923     993

Klamath                       FMR    367   431   549   768    853     981    1,109
                              LOW    367   431   543   628    700     773      845
                              HIGH   367   431   549   768    853     923      993

Lake                          FMR    369   429   540   746    794     913    1,032
                              LOW    369   429   540   628    700     773      845
                              HIGH   369   429   540   746    794     913      993

Lincoln                       FMR    460   525   670   929   1,049   1,206   1,364
                              LOW    422   452   543   628     700     773     845
                              HIGH   460   525   670   782     853     923     993

Linn                          FMR    439   532   663   914   1,132   1,302   1,472
                              LOW    439   500   601   694     773     854     934
                              HIGH   439   532   663   869     949   1,029   1,109

Malheur                       FMR    390   445   542   784    806     927    1,048
                              LOW    390   445   542   628    700     773      845
                              HIGH   390   445   542   782    806     923      993

Morrow                        FMR    412   483   583   790    924    1,063   1,201
                              LOW    412   463   556   642    716      790     864
                              HIGH   412   483   583   790    874      945   1,018

Sherman                       FMR    412   483   583   790    924    1,063   1,201
                              LOW    412   483   583   687    767      846     925
                              HIGH   412   483   583   790    924    1,019   1,098

Tillamook                     FMR    424   506   651   910    937    1,078   1,218
                              LOW    424   459   551   636    710      784     857
                              HIGH   424   506   651   794    866      937   1,009

Umatilla                      FMR    384   438   560   786    877    1,009   1,140
                              LOW    384   438   560   660    736      813     889
                              HIGH   384   438   560   786    877      974   1,049

Union                         FMR    367   427   563   821    845     972    1,099

Fall 2006 Funding Pro Forma                                                          Page 15 of 21
                              LOW    367   427   555   640    715     788      862
                              HIGH   367   427   563   799    845     944    1,016

Wallowa                       FMR    364   424   559   800    860     989    1,118
                              LOW    364   424   543   628    700     773      845
                              HIGH   364   424   559   782    853     923      993

Wasco                         FMR    424   475   592   841   1,041   1,197   1,353
                              LOW    424   475   582   673     751     828     906
                              HIGH   424   475   592   841     919     996   1,072

Wheeler                       FMR    412   483   583   790    924    1,063   1,201
                              LOW    412   452   543   628    700      773     845
                              HIGH   412   483   583   782    853      923     993




Fall 2006 Funding Pro Forma                                                          Page 16 of 21
9




    Fall 2006 Funding Pro Forma   Page 17 of 21
                         OREGON HOUSING AND COMMUNITY SERVICES
                                            2006 INCOME LIMITS
                                      for HOME and LIHTC Programs

                Based on HUD's published Section 8 income limits
                Median incomes by county (as of Mar 06**Published March 8, 2006)
                Section 8 income limits by county (or non-PMSA average if greater)

MSA / County    % MFI 1 Pers       2 Pers     3 Pers     4 Pers     5 Pers     6 Pers     7 Pers     8 Pers

Deschutes        30%      12,350     14,100     15,900     17,650     19,050     20,450     21,900     23,300
                 40%      16,480     18,800     21,160     23,520     25,400     27,280     29,160     31,040
                 50%      20,600     23,500     26,450     29,400     31,750     34,100     36,450     38,800
                 60%      24,720     28,200     31,740     35,280     38,100     40,920     43,740     46,560
                 80%      32,950     37,650     42,350     47,050     50,800     54,600     58,350     62,100

Benton           30%      14,300     16,350     18,400     20,450     22,100     23,700     25,350     27,000
                 40%      19,080     21,800     24,520     27,240     29,400     31,600     33,760     35,960
                 50%      23,850     27,250     30,650     34,050     36,750     39,500     42,200     44,950
                 60%      28,620     32,700     36,780     40,860     44,100     47,400     50,640     53,940
                 80%      38,150     43,600     49,050     54,500     58,850     63,200     67,600     71,950

Lane             30%      11,500     13,100     14,750     16,400     17,700     19,000     20,350     21,650
                 40%      15,320     17,520     19,680     21,880     23,640     25,400     27,120     28,880
                 50%      19,150     21,900     24,600     27,350     29,550     31,750     33,900     36,100
                 60%      22,980     26,280     29,520     32,820     35,460     38,100     40,680     43,320
                 80%      30,650     35,000     39,400     43,750     47,250     50,750     54,250     57,750

Jackson          30%      11,100     12,700     14,250     15,850     17,100     18,400     19,650     20,900
                 40%      14,800     16,920     19,040     21,160     22,840     24,560     26,240     27,920
                 50%      18,500     21,150     23,800     26,450     28,550     30,700     32,800     34,900
                 60%      22,200     25,380     28,560     31,740     34,260     36,840     39,360     41,880
                 80%      29,600     33,850     38,050     42,300     45,700     49,050     52,450     55,850

Clackamas        30%      14,250     16,300     18,350     20,350     22,000     23,650     25,250     26,900
  Columbia       40%      19,000     21,720     24,440     27,160     29,320     31,520     33,680     35,840
  Multnomah      50%      23,750     27,150     30,550     33,950     36,650     39,400     42,100     44,800
  Washington     60%      28,500     32,580     36,660     40,740     43,980     47,280     50,520     53,760
  & Yamhill      80%      38,000     43,450     48,900     54,300     58,650     63,000     67,350     71,700

Marion & Polk    30%      11,950     13,650     15,350     17,050     18,400     19,800     21,150     22,500
                 40%      15,920     18,160     20,440     22,720     24,520     26,360     28,160     30,000
                 50%      19,900     22,700     25,550     28,400     30,650     32,950     35,200     37,500
                 60%      23,880     27,240     30,660     34,080     36,780     39,540     42,240     45,000
                 80%      31,800     36,350     40,900     45,450     49,100     52,700     56,350     60,000

Baker            30%      10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%      13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%      16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%      20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%      27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000




Fall 2006 Funding Pro Forma                      Page 18 of 21
MSA / County   % of MFI1 Pers     2 Pers     3 Pers     4 Pers     5 Pers     6 Pers     7 Pers     8 Pers

Clatsop          30%     11,300     12,900     14,550     16,150     17,450     18,750     20,050     21,300
                 40%     15,080     17,240     19,400     21,560     23,280     25,000     26,720     28,440
                 50%     18,850     21,550     24,250     26,950     29,100     31,250     33,400     35,550
                 60%     22,620     25,860     29,100     32,340     34,920     37,500     40,080     42,660
                 80%     30,150     34,500     38,800     43,100     46,550     50,000     53,450     56,900

Coos             30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Crook            30%     10,350     11,850     13,300     14,800     16,000     17,150     18,350     19,550
                 40%     13,840     15,800     17,800     19,760     21,360     22,920     24,520     26,080
                 50%     17,300     19,750     22,250     24,700     26,700     28,650     30,650     32,600
                 60%     20,760     23,700     26,700     29,640     32,040     34,380     36,780     39,120
                 80%     27,650     31,600     35,550     39,500     42,650     45,800     49,000     52,150

Curry            30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Douglas          30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Gilliam          30%     10,450     11,950     13,450     14,950     16,150     17,350     18,550     19,750
                 40%     13,960     15,920     17,920     19,920     21,520     23,120     24,720     26,280
                 50%     17,450     19,900     22,400     24,900     26,900     28,900     30,900     32,850
                 60%     20,940     23,880     26,880     29,880     32,280     34,680     37,080     39,420
                 80%     27,900     31,900     35,850     39,850     43,050     46,250     49,400     52,600

Grant            30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Harney           30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Hood River       30%     10,650     12,150     13,700     15,200     16,400     17,650     18,850     20,050
                 40%     14,160     16,200     18,200     20,240     21,840     23,480     25,080     26,720
                 50%     17,700     20,250     22,750     25,300     27,300     29,350     31,350     33,400
                 60%     21,240     24,300     27,300     30,360     32,760     35,220     37,620     40,080
                 80%     28,350     32,400     36,450     40,500     43,750     47,000     50,200     53,450


Fall 2006 Funding Pro Forma                     Page 19 of 21
MSA / County   % of MFI1 Pers     2 Pers     3 Pers     4 Pers     5 Pers     6 Pers     7 Pers     8 Pers

Jefferson        30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Josephine        30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Klamath          30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Lake             30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Lincoln          30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Linn             30%     11,200     12,800     14,400     16,000     17,300     18,550     19,850     21,100
                 40%     14,960     17,080     19,240     21,360     23,080     24,760     26,480     28,200
                 50%     18,700     21,350     24,050     26,700     28,850     30,950     33,100     35,250
                 60%     22,440     25,620     28,860     32,040     34,620     37,140     39,720     42,300
                 80%     29,900     34,150     38,450     42,700     46,100     49,550     52,950     56,350

Malheur          30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Morrow           30%     10,350     11,850     13,300     14,800     16,000     17,150     18,350     19,550
                 40%     13,840     15,800     17,800     19,760     21,360     22,920     24,520     26,080
                 50%     17,300     19,750     22,250     24,700     26,700     28,650     30,650     32,600
                 60%     20,760     23,700     26,700     29,640     32,040     34,380     36,780     39,120
                 80%     27,650     31,600     35,550     39,500     42,650     45,800     49,000     52,150

Sherman          30%     11,100     12,700     14,300     15,850     17,150     18,400     19,700     20,950
                 40%     14,800     16,920     19,040     21,160     22,840     24,560     26,240     27,920
                 50%     18,500     21,150     23,800     26,450     28,550     30,700     32,800     34,900
                 60%     22,200     25,380     28,560     31,740     34,260     36,840     39,360     41,880
                 80%     29,600     33,850     38,100     42,300     45,700     49,100     52,500     55,850


Fall 2006 Funding Pro Forma                     Page 20 of 21
MSA / County   % of MFI1 Pers     2 Pers     3 Pers     4 Pers     5 Pers     6 Pers     7 Pers     8 Pers

Tillamook        30%     10,300     11,750     13,250     14,700     15,900     17,050     18,250     19,400
                 40%     13,720     15,680     17,640     19,600     21,160     22,720     24,320     25,880
                 50%     17,150     19,600     22,050     24,500     26,450     28,400     30,400     32,350
                 60%     20,580     23,520     26,460     29,400     31,740     34,080     36,480     38,820
                 80%     27,450     31,350     35,300     39,200     42,350     45,450     48,600     51,750

Umatilla         30%     10,700     12,200     13,750     15,250     16,450     17,700     18,900     20,150
                 40%     14,240     16,240     18,280     20,320     21,960     23,560     25,200     26,840
                 50%     17,800     20,300     22,850     25,400     27,450     29,450     31,500     33,550
                 60%     21,360     24,360     27,420     30,480     32,940     35,340     37,800     40,260
                 80%     28,450     32,500     36,600     40,650     43,900     47,150     50,400     53,650

Union            30%     10,350     11,850     13,300     14,800     16,000     17,150     18,350     19,550
                 40%     13,800     15,760     17,760     19,720     21,280     22,880     24,440     26,040
                 50%     17,250     19,700     22,200     24,650     26,600     28,600     30,550     32,550
                 60%     20,700     23,640     26,640     29,580     31,920     34,320     36,660     39,060
                 80%     27,600     31,550     35,500     39,450     42,600     45,750     48,900     52,050

Wallowa          30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000

Wasco            30%     10,900     12,450     14,000     15,550     16,800     18,050     19,300     20,550
                 40%     14,520     16,560     18,640     20,720     22,360     24,040     25,680     27,360
                 50%     18,150     20,700     23,300     25,900     27,950     30,050     32,100     34,200
                 60%     21,780     24,840     27,960     31,080     33,540     36,060     38,520     41,040
                 80%     29,000     33,150     37,300     41,450     44,750     48,100     51,400     54,700

Wheeler          30%     10,150     11,600     13,050     14,500     15,650     16,800     18,000     19,150
                 40%     13,520     15,440     17,400     19,320     20,880     22,400     23,960     25,520
                 50%     16,900     19,300     21,750     24,150     26,100     28,000     29,950     31,900
                 60%     20,280     23,160     26,100     28,980     31,320     33,600     35,940     38,280
                 80%     27,050     30,900     34,800     38,650     41,750     44,850     47,950     51,000




Fall 2006 Funding Pro Forma                     Page 21 of 21

				
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