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Eno Haven <br />Alternate Scenario Analysis <br /> <br /> <br />Source: <br />Taxable Bond <br />Tax exempt Bond of <br />Total <br />Rate Term <br />(Years) Amort. <br />Period <br />ears Annual Debt <br />Service <br />BANK $1,700,000 $1,700,000 20.7% 6.25% 30 30 $125,606 <br />RPPLOAN $500,000 $500,000 6.1% 2.00% 20 20 $4,540 <br />Oran a Coun Bond $1,000,000 $1,000,000 12.2% 0.00% 30 30 $0 <br />State Refund Credit Loan $747,737 $647,737 7.9% 0.00% 30 30 $0 <br />Equity: Federal Housing Tax Credits. <br /> <br />Deferred Developer Fee $4,927,240 <br /> <br />$77,333 $4,268,286 <br /> <br />$77,333 52.1% <br /> <br />l).9% Eshmated pricing on sale of <br />tax credits: $0.83 <br />TOTAL SOURCES $8,952,310 $8,193,356 100.0% $130,146 <br />TOTAL USES $8,952,310 $8,952,310 <br />Funding Gap <br />excludin deferred devt fee $p ($75g,954) <br />State Refund Credit Loan is a direct calculation (10%) of the eligible basis, which is reduced using tax-exempt financing. <br />Federal Credit Equity is reduced due to the reduction of the federal credits. <br /> <br />8!7/2008 11:37 AM <br />