Fiscal Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Starting Reserve Balance $ 0 $ 594,373 $ 397,421 $ 314,282 $ 308,185 $ 322,340 $ 222,064 $ 220,488 $ 256,616 $ 265,062 $ 303,585 $ 320,220 $ 375,611 $ 434,372 $ 48,238 $ 98,413 $ 850 $ 82,800 $ 130,573 $ 17,104 $ 102,942 $ 118,880 $ 219,456 $ 326,034 $ 333,270 $ 413,239 $ 4,091 $ 25,716 $ 113,736 $ 192,387 Annual Reserve Funding $ 620,876 $ 20,910 $ 21,224 $ 23,918 $ 24,448 $ 39,376 $ 42,570 $ 45,166 $ 46,327 $ 49,917 $ 59,601 $ 61,382 $ 63,217 $ 65,108 $ 67,054 $ 69,060 $ 94,833 $ 97,670 $ 100,591 $ 103,600 $ 106,700 $ 109,892 $ 113,180 $ 116,567 $ 90,042 $ 92,737 $ 95,512 $ 98,371 $ 101,316 $ 104,349 Interest Earnings 2.5% $ 14,496.89 $ 9,183 $ 7,148 $ 6,933 $ 7,266 $ 4,456 $ 4,339 $ 5,157 $ 5,335 $ 6,187 $ 6,357 $ 7,664 $ 9,053 $ - $ 765 $ - $ - $ 803 $ - $ - $ 297 $ 2,672 $ 5,192 $ 5,285 $ 7,883 $ - $ - $ 375 $ 2,221 $ 2,833 Expenses $ 41,000 $ 227,045 $ 111,511 $ 36,948 $ 17,559 $ 144,108 $ 48,485 $ 14,195 $ 43,216 $ 17,581 $ 49,322 $ 13,655 $ 13,510 $ 451,241 $ 17,644 $ 166,623 $ 12,884 $ 50,699 $ 214,059 $ 17,763 $ 91,059 $ 11,989 $ 11,794 $ 114,617 $ 17,955 $ 501,885 $ 73,887 $ 10,725 $ 24,886 $ 79,059 Ending Reserve Balance $ 594,373 $ 397,421 $ 314,282 $ 308,185 $ 322,340 $ 222,064 $ 220,488 $ 256,616 $ 265,062 $ 303,585 $ 320,220 $ 375,611 $ 434,372 $ 48,238 $ 98,413 $ 850 $ 82,800 $ 130,573 $ 17,104 $ 102,942 $ 118,880 $ 219,456 $ 326,034 $ 333,270 $ 413,239 $ 4,091 $ 25,716 $ 113,736 $ 192,387 $ 220,510 # Component
Building Exteriors
104 Balcony Surfaces -
Resurface
$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,131 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 117 Walkway Decks -
Resurface
$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 17,983 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 117 Walkway Decks -
Seal/Repair
$ - $ - $ - $ 2,025 $ - $ - $ - $ - $ 2,463 $ - $ - $ - $ - $ 2,997 $ - $ - $ - $ - $ 3,646 $ - $ - $ - $ - $ 4,436 $ - $ - $ - $ - $ 5,398 $ - 118 Balcony Railing - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 15,985 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 324 Exterior Lights - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 15,128 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 508 Exterior Railing -
Repair/Replace
$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 19,981 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 703 Utility Doors - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ 4,106 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1115 Building Exterior - Repaint $ - $ - $ 96,724 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 143,175 $ - $ - $ - $ - $ - $ - $ 211,934 $ - $ - $ - $ - 1117 Exterior Surfaces - Repair $ - $ - $ - $ - $ - $ 24,181 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 35,794 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 52,983 $ - $ - $ - $ - 1137 Windows - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 314,699 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1303 Comp Shingle Roofs -
Replace
$ - $ 126,547 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1308 Flat Roof - Replace $ - $ 44,995 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 98,589 $ - $ - $ - $ - $ - $ - 1309 Metal Roof - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 20,813 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1312 Gutters/Downspouts -
Partial Replace
$ - $ 17,000 $ - $ - $ - $ 20,683 $ - $ - $ - $ - $ 25,164 $ - $ - $ - $ - $ 30,616 $ - $ - $ - $ - $ 37,249 $ - $ - $ - $ - $ 45,319 $ - $ - $ - $ - Building Interiors, Common
325 Interior Lights - Replace $ - $ - $ - $ - $ - $ 3,650 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 909 Bathroom - Refurbish $ - $ - $ - $ - $ - $ 6,083 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 13,329 $ - $ - $ - $ - 911 Kitchen Appliances -
Replace
$ - $ - $ - $ - $ - $ 2,920 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 4,322 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 6,398 $ - $ - $ - $ - 912 Kitchen - Remodel $ - $ - $ - $ - $ - $ 12,775 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 27,991 $ - $ - $ - $ - 918 Office - Remodel $ - $ - $ - $ - $ - $ 4,258 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 9,330 $ - $ - $ - $ - 1110 Community Room -
Repaint
$ - $ - $ - $ - $ - $ 11,680 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 17,289 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 25,592 $ - $ - $ - $ - Building Interiors, Units
915 Unit - Remodel $ 15,000 $ 14,895 $ 14,787 $ 14,675 $ 14,561 $ 14,443 $ 14,321 $ 14,195 $ 14,066 $ 13,933 $ 13,796 $ 13,655 $ 13,510 $ 13,360 $ 13,206 $ 13,047 $ 12,884 $ 12,715 $ 12,541 $ 12,363 $ 12,179 $ 11,989 $ 11,794 $ 11,592 $ 11,385 $ 11,172 $ 10,952 $ 10,725 $ 10,492 $ 10,252 Common Area
202 Asphalt - Repave $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 54,650 $ - $ - $ - $ - 203 Asphalt - Seal/Repair/Stripe $ - $ - $ - $ - $ 2,998 $ - $ - $ - $ - $ 3,648 $ - $ - $ - $ - $ 4,438 $ - $ - $ - $ - $ 5,400 $ - $ - $ - $ - $ 6,570 $ - $ - $ - $ - $ 7,993 320 Pole Lights - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 21,611 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 322 Bollard Lights - Replace $ - $ - $ - $ - $ - $ 8,760 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 19,194 $ - $ - $ - $ - 403 Mailboxes - Replace $ - $ 4,368 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 11,644 $ - $ - $ - 404 Outdoor Furniture -
Replace
$ - $ - $ - $ - $ - $ 2,433 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 3,602 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 5,332 $ - $ - $ - $ - 503 Metal Fence/Gate -
Replace
$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 15,818 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 505 Wood Fence -
Repair/Replace
$ - $ 19,240 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 51,291 $ - $ - $ - 509 Decorative Arbor - Replace $ - $ - $ - $ 3,375 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 8,996 $ - 514 Wood Retaining Wall -
Replace/Repair
$ - $ - $ - $ - $ - $ - $ - $ - $ 22,581 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 750 Pedestrian Gates - Replace $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 27,474 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Mechanical & Systems
704 Intercom - Replace $ - $ - $ - $ - $ - $ 23,725 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 37,984 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 60,814 803 Water Heaters - Replace $ - $ - $ - $ - $ - $ - $ 34,164 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 54,697 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1001 Fire Backflow Preventer -
Replace
$ - $ - $ - $ 16,873 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1811 Plumbing - Inspect/Repair $ 7,000 $ - $ - $ - $ - $ 8,517 $ - $ - $ - $ - $ 10,362 $ - $ - $ - $ - $ 12,607 $ - $ - $ - $ - $ 15,338 $ - $ - $ - $ - $ 18,661 $ - $ - $ - $ - 1819 Fire Alarm System -
Replace
$ 12,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 26,293 $ - $ - $ - $ - $ - $ - $ - $ - $ - 1844 Electrical System -
Inspect/Repair
$ 7,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 12,607 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Expenses $ 41,000 $ 227,045 $ 111,511 $ 36,948 $ 17,559 $ 144,108 $ 48,485 $ 14,195 $ 43,216 $ 17,581 $ 49,322 $ 13,655 $ 13,510 $ 451,241 $ 17,644 $ 166,623 $ 12,884 $ 50,699 $ 214,059 $ 17,763 $ 91,059 $ 11,989 $ 11,794 $ 114,617 $ 17,955 $ 501,885 $ 73,887 $ 10,725 $ 24,886 $ 79,059 Painting Quotes Roofing Quotes
Quote 1 Quote 1: American Standard Roofing Quote 2: IQV Quote 3: McCurdy Roofing Inc.
Urban Painting $ 63,500.00 Shingle Flat Estimated Useful Life Shingle Flat Gutters & DS Estimated Useful Life Shingle Flat - TPO Flat - Modified Gutter & DS Estimated useful life Building 1 (Red) $ 22,850 Building 1 $ 22,831 $ 38,975 $ 3,376 Building 1 $ 24,200 $ 3,160 Quote 2 Building 2 (Blue) $ 10,375 Building 2 $ 28,598 $ 4,414 Building 2 $ 24,200 $ 1,840 R.E. Broocker Co $ 97,500.00 Building 3 (Sky Blue) $ 10,375 Building 3 $ 24,695 $ 4,536 Building 3 $ 24,200 $ 1,840 Building 4 (Purple) $ 18,950 Building 4 $ 31,356 $ 4,195 Building 4 $ 5,670 $ 1,200 Building 5 (Green) $ 21,750 Total $ 107,480 $ 38,975 $ 16,521 $ 162,976 Building 5 $ 21,800 $ 2,700 Building 6 (Orange) $ 17,000 Building 6 $ 21,800 $ 2,700 Building 7 (Yellow) $ 10,450 Estimated Useful Life Building 7 $ 27,300 $ 18,900 $ 84,300 $ 27,450 $ 111,750 Flat Roofs Building 8 $ 14,400 $ 9,900 Total $ 121,870 $ 41,700 $ 28,800 $ 13,440 $ 164,110
Does not include laundry room Discount for $ 98,750
Includes gutters & DS doing all roofs See presentation for pictures and description of roof condition Shingled Roofs
Multiple Layer Tear-offs: $80 per 100 square feet
Wood Remediation: $15 per linear foot
$20.00 per linear foot for replacement of any 2x6 and 2x8 Fascia Boards Conclusion
Any damaged or dry rot fascia board & 1/2” plywood & siding will be replaced to new one with additional cost of material + labor ($120.00/h).
These appear to be at or beyond their useful service life. There are multiple areas of concern, especially where the membrane seams meet the walls. Several of these seams are showing signs of failure across both roof sections.
These are in better condition than the flat roofs, but there are still notable issues. I found multiple soft spots on several roof planes, which typically indicates moisture intrusion and deterioration of the underlying wood sheathing.
Given these conditions and perceived age, I’d estimate the shingled roofs may have another 1–3 years of useful life at best. Saying that though there is the risk of the roofs leaking at any moment.
30-Year Income/Expense Detail 58592-0
Full
2-3 years w/ maintenance
work
Recommend doing reroofing
this summer
Total
1-3 years
See below
14 19,998
17,138
100%
$ 3,452,814
$ 227,436
$ 450,250
$ 4,130,500
$ 207
$ 295,036
41%
59%
Est. Interest Rate
Est. Interest-Only Period
AFFORDABILITY
Average BRIDGE AMI level
Average HEART AMI level
LOAN DETAILS
Bank:
Amortization (yrs.)
Interest-Only Period (yrs.)
Min. Debt Cov. Ratio
Max. Loan-to-Value
Proforma Loan-to-Value
HEART Funds
Total Cost
Total Cost (not PP) per SF of buildling
Total Cost per Unit
Loan Term (yrs.)
Occupancy at Purchase
RDA of the City of Brisbane/Authority Loans
County of San Mateo Loan
8 Visitacion Avenue, Brisbane
PROPERTY SUMMARY
Residential Unit Count
Building Size (SF)
Parcel Size (SF)
8 Visitacion Avenue, Brisbane
Income Limits YR: 2025
CA Annual Rent Cap: 5% + CPI or 10%, whichever is less
Assumptions: 30%
2025 Utility Allowance Schedule/mo. - San Mateo County
Studio 1BR 2BR 3BR
1P 1.5P 3P 4.5P
Natural Gas $ 26 $ 32 37$ 41$
Electric $ - $ - $ - $ -
Natural Gas $ - $ - $ - $ -
Electric $ 11 $ 13 18$ 24$
Other Electric (incl. climate credit) $ 34 $ 42 62$ 85$ Air Conditioning $ - $ - $ - $ -
Natural Gas $ - $ - $ - $ -
Electric $ - $ - $ - $ -
Water $ - $ - $ - $ -
Trash $ - $ - $ - $ -
Range/Microwave $ 11 $ 11 11$ 11$
Refrigerator $ 12 $ 12 12$ 12$
Total $ 94 $ 110 140$ 173$
2025 HCD Income Limits
Extremely Low-Income (30%) Very Low-Income (50%) Low-Income (60%) 30% of Max. 30% of Max. 30% of Max.
Household Annual Annual Monthly Household Annual Annual Monthly Household Annual Annual Monthly Size Income Income Rent Size Income Income Rent Size Income Income Rent 1 $ 41,150 $ 12,345 1,029$ 1 $ 68,550 $ 20,565 1,714$ 1 $ 82,260 $ 24,678 2,057$ 2 $ 47,000 $ 14,100 1,175$ 2 $ 78,350 $ 23,505 1,959$ 2 $ 94,020 $ 28,206 2,351$ 3 $ 52,900 $ 15,870 1,323$ 3 $ 88,150 $ 26,445 2,204$ 3 $ 105,780 $ 31,734 2,645$ 4 $ 58,750 $ 17,625 1,469$ 4 $ 97,900 $ 29,370 2,448$ 4 $ 117,480 $ 35,244 2,937$ 5 $ 63,450 $ 19,035 1,586$ 5 $ 105,750 $ 31,725 2,644$ 5 $ 126,900 $ 38,070 3,173$ 6 $ 68,150 $ 20,445 1,704$ 6 $ 113,600 $ 34,080 2,840$ 6 $ 136,320 $ 40,896 3,408$ 7 $ 72,850 $ 21,855 1,821$ 7 $ 121,400 $ 36,420 3,035$ 7 $ 145,680 $ 43,704 3,642$ 8+ $ 77,550 $ 23,265 1,939$ 8+ $ 129,250 $ 38,775 3,231$ 8+ $ 155,100 $ 46,530 3,878$ Low-Income (80%) Median-Income (100%) Moderate-Income (120%) 30% of Max. 30% of Max. 30% of Max.
Household Annual Annual Monthly Household Annual Annual Monthly Household Annual Annual Monthly Size Income Income Rent Size Income Income Rent Size Income Income Rent 1 $ 109,700 $ 32,910 2,743$ 1 $ 130,600 $ 39,180 3,265$ 1 $ 156,750 $ 47,025 3,919$ 2 $ 125,350 $ 37,605 3,134$ 2 $ 149,300 $ 44,790 3,733$ 2 $ 179,100 $ 53,730 4,478$ 3 $ 141,000 $ 42,300 3,525$ 3 $ 167,950 $ 50,385 4,199$ 3 $ 201,500 $ 60,450 5,038$ 4 $ 156,650 $ 46,995 3,916$ 4 $ 186,600 $ 55,980 4,665$ 4 $ 223,900 $ 67,170 5,598$ 5 $ 169,200 $ 50,760 4,230$ 5 $ 201,550 $ 60,465 5,039$ 5 $ 241,800 $ 72,540 6,045$ 6 $ 181,750 $ 54,525 4,544$ 6 $ 216,450 $ 64,935 5,411$ 6 $ 259,700 $ 77,910 6,493$ 7 $ 194,250 $ 58,275 4,856$ 7 $ 231,400 $ 69,420 5,785$ 7 $ 277,650 $ 83,295 6,941$ 8+ $ 206,800 $ 62,040 5,170$ 8+ $ 246,300 $ 73,890 6,158$ 8+ $ 295,550 $ 88,665 7,389$ of household income is the maximum monthly housing
payment, including utilities, insurance, taxes, and home Heating
Cooking
Water Heating
8 Visitacion Avenue, Brisbane
HCD TCAC H&SC HUD HOME
Max Monthly Rent Max Rent Calculations Max Rent Calculations Max Rent Calculations Annual Income
30% of Annual
Income
Max Monthly
Rent
Annual Income 30% of Annual
Income
Max Monthly
Rent
$ 156,750 $ 47,025 $ 3,919 $ 143,660 $ 43,098 $ 3,592
$ 179,100 $ 53,730.00 $ 4,478 $ 164,230 $ 49,269 $ 4,106 $ 201,500 $ 60,450.00 $ 5,038 $ 184,745 $ 55,424 $ 4,619 Annual Income 30% of Annual
Income
Max Monthly
Rent
Annual Income 30% of Annual
Income
Max Monthly
Rent
Annual Income 30% of Annual
Income
Max Monthly
Rent
$ 130,600 $ 39,180 $ 3,265 $ 135,400 $ 40,620 $ 3,385 $ 130,600 $ 39,180 $ 3,265 $ 149,300 $ 44,790 $ 3,733 $ 154,800 $ 46,440 $ 3,870 $ 149,300 $ 44,790 $ 3,733 $ 167,950 $ 50,385 $ 4,199 $ 174,100 $ 52,230 $ 4,353 $ 167,950 $ 50,385 $ 4,199 Annual Income
30% of Annual
Income
Max Monthly
Rent Annual Income
30% of Annual
Income
Max Monthly
Rent Annual Income
30% of Annual
Income
Max Monthly
Rent
$ 109,700 $ 32,910 $ 2,743 $ 108,320 $ 32,496 $ 2,708 $ 78,360 $ 23,508 $ 1,959 $ 125,350 $ 37,605 $ 3,134 $ 123,840 $ 37,152 $ 3,096 $ 89,580 $ 26,874 $ 2,240 $ 141,000 $ 42,300 $ 3,525 $ 139,280 $ 41,784 $ 3,482 $ 100,770 $ 30,231 $ 2,519 Annual Income 30% of Annual
Income
Max Monthly
Rent
Annual Income 30% of Annual
Income
Max Monthly
Rent
Annual Income 30% of Annual
Income
Max Monthly
Rent
$ 82,260 $ 24,678 $ 2,057 $ 81,240 $ 24,372 $ 2,031 $ 78,360 $ 23,508 $ 1,959 $ 94,020 $ 28,206 $ 2,351 $ 92,880 $ 27,864 $ 2,322 $ 89,580 $ 26,874 $ 2,240 $ 105,780 $ 31,734 $ 2,645 $ 104,460 $ 31,338 $ 2,612 $ 100,770 $ 30,231 $ 2,519 Annual Income
30% of Annual
Income
Max Monthly
Rent Annual Income
30% of Annual
Income
Max Monthly
Rent Annual Income
30% of Annual
Income
Max Monthly
Rent
$ 68,550 $ 20,565 $ 1,714 $ 67,700 $ 20,310 $ 1,693 $ 65,300 $ 19,590 $ 1,633 $ 78,350 $ 23,505 $ 1,959 $ 77,400 $ 23,220 $ 1,935 $ 74,650 $ 22,395 $ 1,866 $ 88,150 $ 26,445 $ 2,204 $ 87,050 $ 26,115 $ 2,176 $ 83,975 $ 25,193 $ 2,099 Annual Income
30% of Annual
Income
Max Monthly
Rent Annual Income
30% of Annual
Income
Max Monthly
Rent Annual Income
30% of Annual
Income
Max Monthly
Rent
$ 41,150 $ 12,345 $ 1,029 $ 40,620 $ 12,186 $ 1,016 $ 39,180 $ 11,754 $ 980 $ 47,000 $ 14,100 $ 1,175 $ 46,440 $ 13,932 $ 1,161 $ 44,790 $ 13,437 $ 1,120 $ 52,900 $ 15,870 $ 1,323 $ 52,230 $ 15,669 $ 1,306 $ 50,385 $ 15,116 $ 1,260 Max Monthly Rent based on Household Size Max Monthly Rent based on Household Size Max Monthly Rent based on Household Size Max Monthly Rent based on Household Size 0BR 1BR 2BR 0BR 1BR 2BR 0BR 1BR 2BR 0BR 1BR 2BR
1 Person 1.5 Persons 3 Persons 1 Person 1.5 Persons 3 Persons 1 Person 2 persons 3 Persons Moderate 120% $ 3,919 $ 4,198 $ 5,038
Median 100% $ 3,265 $ 3,499 $ 4,199 Median 100% $ 3,385 $ 3,628 $ 4,353 Moderate 120% $ 3,592 $ 4,106 $ 4,619 Low 80% $ 2,743 $ 2,938 $ 3,525 Low 80% $ 2,708 $ 2,902 $ 3,482 Low 80% $ 1,959 $ 2,240 $ 2,519 Low 60% $ 2,057 $ 2,204 $ 2,645 Low 60% $ 2,031 $ 2,177 $ 2,612 Low 60% $ 1,959 $ 2,240 $ 2,519 High HOME Limit $ 2,208 $ 2,366 $ 2,842 VLI 50% $ 1,714 $ 1,959 $ 2,204 VLI 50% $ 1,693 $ 1,814 $ 2,176 VLI 50% $ 1,633 $ 1,866 $ 2,099 Low HOME Limit $ 1,713 $ 1,836 $ 2,203 ELI 30% $ 1,029 $ 1,102 $ 1,323 ELI 30% $ 1,016 $ 1,088 $ 1,306 ELI 30% $ 980 $ 1,120 $ 1,260 Net Max Monthly Rent based on Household Size & Utility Allowance Net Max Monthly Rent based on Household Size Net Max Monthly Rent based on Household Size Net Max Monthly Rent based on Household Size 0BR Utility Allowance $ 94 0BR Utility Allowance $ 94 0BR Utility Allowance $ 94 0BR Utility Allowance $ 94 1BR Utility Allowance $ 110 1BR Utility Allowance $ 110 1BR Utility Allowance $ 110 1BR Utility Allowance $ 110 2BR Utility Allowance $ 140 2BR Utility Allowance $ 140 2BR Utility Allowance $ 140 2BR Utility Allowance $ 140 0BR 1BR 2BR 0BR 1BR 2BR 0 BR 1BR 2BR 0 BR 1BR 2BR
1 Person 1.5 Persons 3 Persons 1 Person 1.5 Persons 3 Persons 1 Person 2 persons 3 Persons Moderate 120% $ 3,825 $ 4,088 $ 4,898
Median 100% $ 3,171 $ 3,389 $ 4,059 Median 100% $ 3,291 $ 3,518 $ 4,213 Moderate 120% $ 3,498 $ 3,996 $ 4,479 Low 80% $ 2,649 $ 2,828 $ 3,385 Low 80% $ 2,614 $ 2,792 $ 3,342 Low 80% $ 1,865 $ 2,130 $ 2,379 Low 60% $ 1,963 $ 2,094 $ 2,505 Low 60% $ 1,937 $ 2,067 $ 2,472 Low 60% $ 1,865 $ 2,130 $ 2,379 High HOME Limit $ 2,114 $ 2,256 $ 2,702 VLI 50% $ 1,620 $ 1,849 $ 2,064 VLI 50% $ 1,599 $ 1,704 $ 2,036 VLI 50% $ 1,539 $ 1,756 $ 1,959 Low HOME Limit $ 1,619 $ 1,726 $ 2,063 ELI 30% $ 935 $ 992 $ 1,183 ELI 30% $ 922 $ 978 $ 1,166 ELI 30% $ 886 $ 1,010 $ 1,120 Moderate-Income 120%
Household size
1 2
3 Area Median Income
Area Median Income Area Median Income Area Median Income Area Median Income
Area Median Income
Area Median Income Area Median Income
2 3
Median-Income 100%
Low-Income 80%
Low-Income 60%
Very Low-Income 50%
Extremely Low-Income 30%
Household size
1 2
3 Household size
1 2
3 Household size
1 1
2 3
Household size
1 2
3 Household size
1 Household size
1 2
Low-Income 80%
Low-Income 60%
Low-Income 80%
2 3
2 3
Household size
Household size
1 2
1 2
Very Low-Income 50%
Extremely Low-Income 30%
3 1
2 3
Household size
1 2
2 3
Household size
1 3
Household size
3 Household size
Household size
1 2
3 Low-Income 60%
Very Low-Income 50%
Extremely Low-Income 30%
1 Moderate-Income 120%
3 Household size
1 2
Household size
1 2
3 Household size
Median-Income 100%
3 Median-Income 100%
8 Visitacion Avenue, Brisbane
Loan Int. Rate 3%
Sources and Uses Daily Int. Rate 0.0082191781%
Acquisition/Rehab Sources Acquisition Perm Per Unit Term (yr.) Rate LTV Lien Pos. Notes RDA of the City of Brisbane/Authority Loan 1 City of Brisbane/Housing Authority Loan $ 3,452,814 $ 246,630 55 3% 104.9% 1 Existing City of Brisbane/Housing Authority Loan $ 3,062,564 $ 218,755 n/a n/a 93.1% n/a Outstanding Debt as of Principal Remaining Loan Amt Accrued Interest Date of Calc. Days Accrued Interest Outstanding Debt New City Loan $ 390,250 $ 27,875 n/a n/a 11.9% n/a
County of San Mateo Loan $ 227,436 $ 16,245 55 3% 6.9% 2 7/1/2025 $ 1,000,000 $ 899,873 $ 600,700 4/16/2026 289 $ 21,375.07 $ 1,521,948 HEART Loan $ 390,250 $ 27,875 15 3% 11.9% 3 $ 3,290,000 Deferred developer's Fee - HEART SV $ 60,000 $ 4,286 n/a 3% 1.8% n/a RDA of the City of Brisbane/Authority Loan 2 Outstanding Debt as of Principal Remaining Loan Amt Accrued Interest Date of Calc. Days Accrued Interest Outstanding Debt TOTAL $ 4,130,500 $ 295,036 7/1/2025 $ 1,500,000 $ 1,436,214 $ 1,000,402 4/16/2026 289 $ 34,115.00 $ 2,470,731 DSCR: #DIV/0!
Uses Total Cost Per Unit Rate Notes County of San Mateo (HOME funds) Acquisition Outstanding Debt as of Principal Remaining Loan Amt Accrued Interest Date of Calc. Days Accrued Interest Outstanding Debt Property Acquisition (PURCHASE PRICE) $ 3,290,000 $ 235,000 7/1/2025 $ 175,000 $ 175,000 $ 117,352 4/16/2026 289 $ 4,157 $ 296,509 Closing Costs - Escrow $ 14,275 $ 1,020 0.3% Old Title Republic Relocation/Temp. Relocation $ - $ -
Total Acquisition $ 3,304,275 $ 236,020 Total Debt
$ 4,289,188
Construction
Rehabilitation Costs $ 434,063 $ 31,005 Year 1 - 5 CNA Jan 2026 Rehab overhead & profit $ - $ - 15.0% COST SUMMARY Total Costs $/unit Rehabilitation Contingency $ 86,813 $ 6,201 20.0% 20% hard cost contigency Brisbane requirement Total Acquisition $ 3,304,275 $ 236,020 Total Construction $ 520,876 $ 37,205 TOTAL REHABILITATION $ 531,293 $ 37,950 $ 30.39 TOTAL OTHER SOFT COSTS $ 23,757 $ 1,697
SOFT COSTS TOTAL FINANCING $ 5,854 $ 418
Architecture & Design TOTAL DEVELOPER FEE $ 120,000 $ 8,571 Architect $ - $ - 0.00% TOTAL RESERVES $ 145,107 $ 10,365 Third-party Design Consultants $ - $ - $ 4,130,286 $ 295,020 Total Architect & Design $ - $ -
Eng. & Env. Studies
Engineering $ - $ -
Survey $ - $ -
Property Needs Assessment & Walkways Inspection $ 4,100 $ 293 Association Reserves Seismic Study $ - $ - Jaime Neilson Structural Eng.
Other Environmental Consultants $ 2,050 $ 146 CRETelligent Phase I Report Est. Closing Costs Based on Stambaugh Total Eng. & Env. Studies $ 6,150 $ 439 $ 3,000 County
$ 3,000 City
Other Soft Development Costs $ 1,800 HEART
Appraisal $ 4,500 $ 321 $ 3,800 Owner
Construction Management Fee $ - $ - 5.0% % of hard cost $ 2,375 Escrow Fee Permits $ 10,418 $ 744 2.0% % of hard cost $ 300 Mobile Signing Relocation Consultant $ - $ - $ 14,275
Utilities Fees $ - $ -
Insurance $ - $ -
Marketing $ - $ -
Property Taxes $ - $ -
Total Other Soft Development Costs $ 14,918 $ 1,066
Legal Costs
Borrower/Project Legal Costs $ 10,000 $ 714
Other Legal Costs $ - $ -
$ - $ -
Total Legal Costs $ 10,000 $ 714
Soft Cost Contingency $ 3,107 $ 222 10% 10% soft cost contigency Brisbane requirement TOTAL SOFT COSTS $ 34,174 $ 2,441
FINANCING COSTS
Conv. Loan Fee $ - $ -
Prepaid Interest Bank Loan $ - $ -
LHTF Loan Fee $ - $ - 1.5%
HEART - Trust Funds Loan Fee $ 5,854 $ 418 1.5%
Local City Loan Fee $ - $ -
Total Financing Costs $ 5,854 $ 418
DEVELOPER COSTS
Developer Fee $ 120,000 $ 8,571 2.50% Greater of 2.5% or $120,000 TOTAL DEVELOPER FEE $ 120,000 $ 8,571
RESERVES
Vacancy Reserve $ - $ - 0.0% Only fund if there is a vacancy at time of purchase. If vacancy, use 3.5% of Eff. Gross Income Operating Reserve $ 45,107 $ 3,222 3 mo. expenses + reserves + debt obligation Replacement Reserve $ 100,000 $ 7,143
Debt Service Coverage Reserve $ - $ -
TOTAL RESERVES $ 145,107 $ 10,365
TOTAL DEVELOPMENT COST $ 4,130,286 $ 295,020
Sources - Uses $214
Year 30 reserve balance $ 220,510
RDA of the City
of Brisbane/
Authority
$ 930,115
$ 69,073
Appraised Value
County of San
Mateo
93%
7%
$ 3,062,564
$ 227,436
Dif. btwn Oustanding Debt & Proposed
% of Oustanding Debt to Total Debt Proposed Loan Value Loan Value 8 Visitacion Avenue, Brisbane
County County
BHC Low High City
Unit # Bed Bath HOME HOME
V1 1 1 80% 120%
V10 1 1 80% 30%
V2 1 1 80% 80%
V4 1 1 80% 60% 80%
V5 1 1 80% 120%
V6 1 1 80% 50% 30%
V8 1 1 80% 60% 40%
V9 1 1 80% 120%
I1 2 1 80% 120%
I2 2 1 80% 60% 120%
I3 1 1 80% 40%
I4 1 1 80% 60% 120%
I5 1 1 80% 120%
I6 1 1 80% 120%
16 14
2 BD
Deed Restrictions per Existing Agreements
AMI City County
30% 2 AMI
40% 2 30%
50% 0 1 40%
60% 0 4 50%
80% 2 60%
120% 8 80%
Total 14 5 120%
Total
Current Current
Tenant Rent Section 8
Unit # AMI% AMI% Voucher Income Rent Income
V1 25% 42% 80% 60%
V10 14% 20% 80% 60% 50%
V2 19% 36% 80% 60% 60%
V4 21% 36% 80% 60%
V5 23% 42% 80% 60%
V6 0% 34% 80% 60%
Co
Current Occupany
BHC
H&SC
Deed Restrictions
H
BRIDGE Rent Roll: AS-IS Rent Restrictio
V8 35% 28% 80% 60%
V9 13% 39% 80% 60%
I1 17% 71% Voucher 80% 60% 60%
I2 40% 46% 80% 60%
I3 20% 28% 80% 60% 60%
I4 17% 36% 80% 60% 60%
I5 32% 72% Voucher 80% 60%
I6 57% 36% 80% 60%
Notes
H&S
50079.5
says "lower
income"
means
Lower as per
Section 8
Senior Household means: at least 1
resident is 62 years or older, and all
other residents are either: (a) at least
45 years old, or (b) provide primary
physical or economic suppport to a
resident who is at least 62
4 units at
HOME or
120% of Very
Low;
1 unit at Very
Low
Definition
Low, or
Lower as per
H&S
50079.5
30% of 60%
AMI Income
Current Utility Current Current Current
Designated Gross Rent Allowance Paid Rent Paid Rent Tenant Rent AMI% $/mo. AMI% HCD $/mo.
80% $ 1,371 87 $ 1,284 42% $ 1,284
30% $ 665 87 $ 578 20% $ 578
50% $ 1,187 87 $ 1,100 36% $ 1,100
50% $ 1,187 87 $ 1,100 36% $ 1,100
80% $ 1,371 87 $ 1,284 42% $ 1,284
30% $ 1,103 87 $ 1,016 34% $ 1,016
40% $ 926 87 $ 839 28% $ 839
60% $ 1,283 87 $ 1,196 39% $ 1,196
60% $ 2,645 117 $ 2,528 71% $ 509
60% $ 1,713 117 $ 1,596 46% $ 1,596
40% $ 926 87 $ 839 28% $ 839
50% $ 1,187 87 $ 1,100 36% $ 1,100
60% $ 2,352 87 $ 2,265 72% $ 621
50% $ 1,187 87 $ 1,100 36% $ 1,100
53% $ 1,273 41% $ 1,012
Average AMI Average Rent Average AMI
Income Target Rent
3 3 3
0 0
1 1
6 6 1
0 4 1
4 0
14 14 5
Rent Income Rent Unit Deed Restriction Target Rent
120% 110% V1 60% 60%
50% 30% 50% V10 30% 30%
60% 40% 50% V2 50% 50%
120% 110% V4 60% 60%
120% 110% V5 120% 80%
120% 110% V6 60% 60%
City Deed Restrictions
Proposed Deed Restrictions
County Deed
Restrictions
ounty City
HEART Designations
H&SC
s per Existing Agreeements
HOME
Average Tenant
Rent
ons BRIDGE Rent Roll: AS-IS Rents & Tena
120% 110% V8 120% 80%
120% 110% V9 60% 60%
60% 80% 60% I1 60% 60%
120% 110% I2 120% 80%
60% 30% 50% I3 30% 30%
60% 40% 50% I4 30% 30%
80% 60% I5 60% 60%
120% 110% I6 120% 80%
59%
60%: H&SC rent is lower than High HOME ren
2 at 30%;
2 at 40%;
2 at 80%; and
rest (8) at 120%
If 30% AMI become over 30%
AMI, then rent is 40%;
If 40% AMI becomes over 40%,
then rent is lessor of 50% of
gross income or moderate
income level
If 120% units become over
110% AMI, then rent is 30% of
gross income. If tenant over
120% AMI, then market rent
4 units at High
HOME or SMC
HOME;
1 unit at Low
HOME or SMC
Very Low
30% and 40%
income units
at 50%; and
120% income
units at 110%
Section 8
Voucher Lease Start
Income HH Size AMI% HCD Unit #
$ 33,044 1 25% V1 2017
$ 17,697 1 14% V10 2003
$ 25,094 1 19% V2 2019
$ 27,355 1 21% V4 2020
$ 30,301 1 23% V5 2020
$ - V6
$ 45,793 1 35% V8 2000
$ 16,754 1 13% V9 2021
Voucher $ 24,946 2 17% I1 2016
$ 59,206 2 40% I2 2023
$ 25,651 1 20% I3 2020
$ 22,844 1 17% I4 2019
Voucher $ 42,292 1 32% I5 2023
$ 74,155 1 57% I6 2018
Awaiting 26%
updated Average AMI
income
verifications
Rent Growth 0.03
Unit #
V1 80%
V10 30%
V2 50%
V4 50%
V5 80%
V6 30%
V8 40%
V9 60%
I1 60%
I2 60%
Income I3 40%
Limit I4 50%
H&SC I5 60%
H&SC I6 50%
H&SC
H&SC
H&SC
H&SC Rent Growth 0.03
Current
Current
Tenant
ancy
H&SC
H&SC Unit #
H&SC V1 60%
H&SC V10 30%
H&SC V2 50%
H&SC V4 60%
H&SC V5 80%*
H&SC V6 60%
V8 80%*
V9 60%
I1 60%
I2 80%*
I3 30%
I4 30%
I5 60%
I6 80%*
*For modeling
purposes,
HEART is
running H&SC
80% at 60%
nt
Target Rent
Current Year Year Year Year Year
Rent Paid 1 2 3 4 5
2026 Annually 5/1/2026 5/1/2027 5/1/2028 5/1/2029 5/1/2030 9 $ 15,408 $ 15,408 $ 15,870 $ 16,346 $ 16,837 $ 28,761 23 $ 6,936 $ 6,936 $ 7,144 $ 12,855 $ 13,241 $ 13,638
7 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 6 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 6 $ 15,408 $ 15,408 $ 15,870 $ 16,346 $ 16,837 $ 17,342 $ 12,192 $ 12,192 $ 12,558 $ 12,934 $ 13,323 $ 13,722
26 $ 10,068 $ 10,068 $ 10,370 $ 27,110 $ 27,924 $ 28,761 5 $ 14,352 $ 14,352 $ 14,783 $ 15,226 $ 15,683 $ 16,153 10 $ 30,336 $ 30,336 $ 31,246 $ 32,183 $ 31,198 $ 32,134 3 $ 19,152 $ 19,152 $ 19,727 $ 20,318 $ 20,928 $ 21,556 6 $ 10,068 $ 10,068 $ 10,370 $ 10,681 $ 11,002 $ 11,332 7 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 3 $ 27,180 $ 27,180 $ 27,995 $ 28,835 $ 29,700 $ 30,591 8 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 $ 213,900 $ 213,900 $ 220,317 $ 248,852 $ 254,367 $ 273,418 Current Current Year Year Year Year Year
Rent Paid Rent Paid 1 2 3 4 5
Monthly Annually 5/1/2026 5/1/2027 5/1/2028 5/1/2029 5/1/2030 $ 1,284 $ 15,408 $ 15,408 $ 15,870 $ 16,346 $ 16,837 $ 17,342 $ 578 $ 6,936 $ 6,936 $ 7,144 $ 7,358 $ 7,579 $ 7,807
$ 1,100 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 $ 1,100 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 $ 1,284 $ 15,408 $ 15,408 $ 15,870 $ 16,346 $ 16,837 $ 17,342 $ 1,016 $ 12,192 $ 12,192 $ 12,558 $ 12,934 $ 13,323 $ 13,722 $ 839 $ 10,068 $ 10,068 $ 10,370 $ 10,681 $ 11,002 $ 11,332 $ 1,196 $ 14,352 $ 14,352 $ 14,783 $ 15,226 $ 15,683 $ 16,153 $ 2,528 $ 30,336 $ 30,336 $ 31,246 $ 32,183 $ 33,149 $ 34,143 $ 1,596 $ 19,152 $ 19,152 $ 19,727 $ 20,318 $ 20,928 $ 21,556 $ 839 $ 10,068 $ 10,068 $ 10,370 $ 10,681 $ 11,002 $ 11,332 $ 1,100 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 $ 2,265 $ 27,180 $ 27,180 $ 27,995 $ 28,835 $ 29,700 $ 30,591 $ 1,100 $ 13,200 $ 13,200 $ 13,596 $ 14,004 $ 14,424 $ 14,857 $ 17,825 $ 213,900 $ 213,900 $ 220,317 $ 226,927 $ 233,734 $ 240,746 Current Current Year Year Year Year Year
Current Rent $/year
HEART Program Rent $/year
Occupancy since
move-in
10 Years: HEART Program Rents
Potential Rent Potential Rent 1 2 3 4 5
Monthly Annually 5/1/2026 5/1/2027 5/1/2028 5/1/2029 5/1/2030 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 1,010 $ 12,117 $ 12,117 $ 12,481 $ 12,855 $ 13,241 $ 13,638 $ 1,756 $ 21,075 $ 21,075 $ 21,707 $ 22,358 $ 23,029 $ 23,720 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 2,379 $ 28,551 $ 28,551 $ 29,408 $ 30,290 $ 31,198 $ 32,134 $ 2,379 $ 28,551 $ 28,551 $ 29,408 $ 30,290 $ 31,198 $ 32,134 $ 1,010 $ 12,117 $ 12,117 $ 12,481 $ 12,855 $ 13,241 $ 13,638 $ 1,010 $ 12,117 $ 12,117 $ 12,481 $ 12,855 $ 13,241 $ 13,638 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 2,130 $ 25,554 $ 25,554 $ 26,321 $ 27,110 $ 27,924 $ 28,761 $ 26,580 $ 318,960 $ 318,960 $ 328,529 $ 338,385 $ 348,536 $ 358,992 Loss to Affordable Potential $ 105,060 $ 108,212 $ 89,533 $ 94,169 $ 85,575 Year Year Year Year Year
6 7 8 9 10
5/1/2031 5/1/2032 5/1/2033 5/1/2034 5/1/2035
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 14,047 $ 14,468 $ 14,902 $ 15,349 $ 15,810
$ 15,302 $ 25,165 $ 25,920 $ 26,697 $ 27,498
$ 15,302 $ 15,761 $ 16,234 $ 32,371 $ 33,342
$ 17,862 $ 18,398 $ 18,950 $ 19,518 $ 33,342
$ 14,134 $ 14,558 $ 14,995 $ 15,444 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 16,638 $ 17,137 $ 17,651 $ 18,181 $ 33,342
$ 33,098 $ 34,091 $ 35,114 $ 36,168 $ 37,253
$ 22,202 $ 22,868 $ 23,555 $ 24,261 $ 37,253
$ 11,672 $ 12,022 $ 12,382 $ 12,754 $ 15,810
$ 15,302 $ 15,761 $ 14,902 $ 15,349 $ 15,810
$ 31,509 $ 32,454 $ 33,428 $ 34,431 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 295,942 $ 314,223 $ 322,318 $ 347,637 $ 416,170
Year Year Year Year Year
6 7 8 9 10
5/1/2031 5/1/2032 5/1/2033 5/1/2034 5/1/2035
$ 17,862 $ 18,398 $ 18,950 $ 19,518 $ 20,104
$ 8,041 $ 8,282 $ 8,530 $ 8,786 $ 9,050
$ 15,302 $ 15,761 $ 16,234 $ 16,721 $ 17,223
$ 15,302 $ 15,761 $ 16,234 $ 16,721 $ 17,223
$ 17,862 $ 18,398 $ 18,950 $ 19,518 $ 20,104
$ 14,134 $ 14,558 $ 14,995 $ 15,444 $ 15,908
$ 11,672 $ 12,022 $ 12,382 $ 12,754 $ 13,136
$ 16,638 $ 17,137 $ 17,651 $ 18,181 $ 18,726
$ 35,168 $ 36,223 $ 37,309 $ 38,429 $ 39,582
$ 22,202 $ 22,868 $ 23,555 $ 24,261 $ 24,989
$ 11,672 $ 12,022 $ 12,382 $ 12,754 $ 13,136
$ 15,302 $ 15,761 $ 16,234 $ 16,721 $ 17,223
$ 31,509 $ 32,454 $ 33,428 $ 34,431 $ 35,464
$ 15,302 $ 15,761 $ 16,234 $ 16,721 $ 17,223
$ 247,969 $ 255,408 $ 263,070 $ 270,962 $ 279,091
Year Year Year Year Year
6 7 8 9 10
5/1/2031 5/1/2032 5/1/2033 5/1/2034 5/1/2035
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 14,047 $ 14,468 $ 14,902 $ 15,349 $ 15,810
$ 24,432 $ 25,165 $ 25,920 $ 26,697 $ 27,498
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 33,098 $ 34,091 $ 35,114 $ 36,168 $ 37,253
$ 33,098 $ 34,091 $ 35,114 $ 36,168 $ 37,253
$ 14,047 $ 14,468 $ 14,902 $ 15,349 $ 15,810
$ 14,047 $ 14,468 $ 14,902 $ 15,349 $ 15,810
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 29,624 $ 30,513 $ 31,428 $ 32,371 $ 33,342
$ 369,762 $ 380,855 $ 392,281 $ 404,049 $ 416,170
$ 73,820 $ 66,632 $ 69,963 $ 56,412 $ -
8 Visitacion Avenue, Brisbane
Current Rents May Jun Jul Aug Sep Oct Nov
Unit # 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026 10/1/2026 11/1/2026 V1 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 V10 $ 578 $ 578 $ 578 $ 578 $ 578 $ 578 $ 578
V2 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 V4 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 V5 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 V6 $ 1,016 $ 1,016 $ 1,016 $ 1,016 $ 1,016 $ 1,016 $ 1,016 V8 $ 839 $ 839 $ 839 $ 839 $ 839 $ 839 $ 839
V9 $ 1,196 $ 1,196 $ 1,196 $ 1,196 $ 1,196 $ 1,196 $ 1,196 I1 $ 2,528 $ 2,528 $ 2,528 $ 2,528 $ 2,528 $ 2,528 $ 2,528 I2 $ 1,596 $ 1,596 $ 1,596 $ 1,596 $ 1,596 $ 1,596 $ 1,596 I3 $ 839 $ 839 $ 839 $ 839 $ 839 $ 839 $ 839
I4 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 I5 $ 2,265 $ 2,265 $ 2,265 $ 2,265 $ 2,265 $ 2,265 $ 2,265 I6 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 Gross Rent $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 Reserve Interest $ 363 $ 363 $ 363 $ 363 $ 363 $ 363 $ 363 Commercial Unit Utilities $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 Parking $ - $ - $ - $ - $ - $ - $ -
Laundry $ 3 $ 3 $ 3 $ 3 $ 3 $ 3 $ 3
Vacancy $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ 17,421 $ 17,421 $ 17,421 $ 17,421 $ 17,421 $ 17,421 $ 17,421 First Year
Other Income Per Month Proforma
Reserve Int. 3% $ 363 2026 2025 Budget
Commercial Unit Utilities $ 3,602 $ 300
Parking $ 33 $ 32
Laundry 33 $ 3
Compl. Vac. (%) -6% -38.46%
Current Vac. (%) 0%
# Vacant Units 0
# Occupied Units 14 Rate Proforma
Gas 20% $ 1,053
Electricity 20% $ 1,204
Water 10% $ 1,015
Sewer 10% $ 330
Total $ 3,602
Source
Laundry
Commercial Unit Utilities
Dec Jan Feb Mar Apr
12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 Y1 Total
$ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 15,408
$ 578 $ 578 $ 578 $ 578 $ 578 $ 6,936
$ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 13,200
$ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 13,200
$ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 1,284 $ 15,408
$ 1,016 $ 1,016 $ 1,016 $ 1,016 $ 1,016 $ 12,192
$ 839 $ 839 $ 839 $ 839 $ 839 $ 10,068
$ 1,196 $ 1,196 $ 1,196 $ 1,196 $ 1,196 $ 14,352
$ 2,528 $ 2,528 $ 2,528 $ 2,528 $ 2,528 $ 30,336
$ 1,596 $ 1,596 $ 1,596 $ 1,596 $ 1,596 $ 19,152
$ 839 $ 839 $ 839 $ 839 $ 839 $ 10,068
$ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 13,200
$ 2,265 $ 2,265 $ 2,265 $ 2,265 $ 2,265 $ 27,180
$ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 1,100 $ 13,200
$ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 213,900
$ 363 $ 363 $ 363 $ 363 $ 363 $ 4,353
$ 300 $ 300 $ 300 $ 300 $ 300 $ 3,602
$ - $ - $ - $ - $ - $ -
$ 3 $ 3 $ 3 $ 3 $ 3 $ 33
$ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (12,834) $ 17,421 $ 17,421 $ 17,421 $ 17,421 $ 17,421 $ 209,054
2024 2023 2022 2021
$ 52 $ 51 $ 44 $ 21
1.96% 15.91% 109.52%
Ann. Increase
3% 2025 Budget
$ 5,265 $ 5,112
$ 6,019 $ 5,844
$ 10,148 $ 9,852
$ 3,300 $ 3,204
d from audited financial statements and budget
8 Visitacion Avenue, Brisbane Proforma Date 5/2026
2026
5 1 2 3 4 5
INCOME 5/1/2026 6/1/2026 7/1/2026 8/1/2026 9/1/2026
Program Income
Rent Revenue $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 Vacancy (%) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) Rent Revenue Total $ 16,756 $ 16,756 $ 16,756 $ 16,756 $ 16,756 Other Rental Property Income
Storage Rents $ - $ - $ - $ - $ -
Application Fees $ 4 $ 4 $ 4 $ 4 $ 4
Late Fees $ - $ - $ - $ - $ -
Renters Insurance - Prodesse's 3rd Party Plan $ - $ - $ - $ - $ - Laundry 3% $ 3 $ 3 $ 3 $ 3 $ 3
Parking $ - $ - $ - $ - $ -
Commercial Unit Utilities $ 300 $ 300 $ 300 $ 300 $ 300 Total Other Rental Property Income $ 307 $ 307 $ 307 $ 307 $ 307 Total Program Income $ 17,063 $ 17,063 $ 17,063 $ 17,063 $ 17,063 Investments
Interest-Savings, Short-term CD $ 363 $ 363 $ 363 $ 363 $ 363 Total Investments $ 363 $ 363 $ 363 $ 363 $ 363
Miscellaneous Revenue $ - $ - $ - $ - $ -
GROSS EFFECTIVE INCOME $ 17,425 $ 17,425 $ 17,425 $ 17,425 $ 17,425
EXPENSES
Facilities and Equipment
Property Insurance $ 953 $ 953 $ 953 $ 953 $ 953
Total Facilities and Equipment $ 953 $ 953 $ 953 $ 953 $ 953 1st Year of Operations
1st Month of Operations
Contract Services
Accounting Fees $ 592 $ 592 $ 592 $ 592 $ 592
Legal Fees $ - $ - $ - $ - $ -
Consultants $ - $ - $ - $ - $ -
Professional Services - Other $ 623 $ 623 $ 623 $ 623 $ 623 Total Contract Services $ 1,215 $ 1,215 $ 1,215 $ 1,215 $ 1,215 Property Operating Expenses
Repairs & Maintenance 3% $ 858 $ 858 $ 858 $ 858 $ 858
Fire Safety/Contracts 3% $ 287 $ 287 $ 287 $ 287 $ 287
HVAC Repairs 3% $ 28 $ 28 $ 28 $ 28 $ 28
Pest Control/Contracts 3% $ 150 $ 150 $ 150 $ 150 $ 150 Landscaping/tree/yard servicer 3% $ 984 $ 984 $ 984 $ 984 $ 984 Roof & Gutter Repairs/Maintenance 3% $ 172 $ 172 $ 172 $ 172 $ 172 Other Contracts 3% $ 271 $ 271 $ 271 $ 271 $ 271
Miscellaneous Operating & Maintenance 5% $ 871 $ 871 $ 871 $ 871 $ 871 Total Repairs & Maintenance Expenses $ 3,621 $ 3,621 $ 3,621 $ 3,621 $ 3,621 Unit Turnover Costs
Bath/Kitchen repairs
Painting
Total Unit Turnover Costs $ 292 $ 292 $ 292 $ 292 $ 292 Utilies Common Area
Gas 3.50% $ 515 $ 515 $ 515 $ 515 $ 515
Electricity 3.50% $ 460 $ 460 $ 460 $ 460 $ 460
Water 3.50% $ 725 $ 725 $ 725 $ 725 $ 725
Sewer 3.50% $ 191 $ 191 $ 191 $ 191 $ 191
Garbage 3.50% $ 219 $ 219 $ 219 $ 219 $ 219
Total Utilities Common Area $ 2,111 $ 2,111 $ 2,111 $ 2,111 $ 2,111 Property Management Fees 7.20% $ 1,305 $ 1,305 $ 1,305 $ 1,305 $ 1,305 Property Manager Admin Fees $ 15 $ 15 $ 15 $ 15 $ 15
Lease-up Fee $ 83 $ 83 $ 83 $ 83 $ 83
Total Property Management Fees $ 1,404 $ 1,404 $ 1,404 $ 1,404 $ 1,404 Licenses, Permits & Dues $ 53 $ 53 $ 53 $ 53 $ 53
Total Property Operating Expenses $ 7,480 $ 7,480 $ 7,480 $ 7,480 $ 7,480 Other Types of Expenses
Insurance - Liability, D and O $ 79 $ 79 $ 79 $ 79 $ 79 Total Other Types of Expenses $ 79 $ 79 $ 79 $ 79 $ 79
Travel and Meetings
Mileage, Tolls and Parking $ 17 $ 17 $ 17 $ 17 $ 17
Total Travel and Meetings $ 17 $ 17 $ 17 $ 17 $ 17
Business Expenses
Property Tax $ 63 $ 63 $ 63 $ 63 $ 63
Project Asset Management Fee $15,000 $ 1,250 $ 1,250 $ 1,250 $ 1,250 $ 1,250 Staffing, Admin & Management (HEART-SV) 12% $ 2,091 $ 2,091 $ 2,091 $ 2,091 $ 2,091 City Monitoring Fee $1,750 $ 146 $ 146 $ 146 $ 146 $ 146 Total Business Expenses $ 3,549 $ 3,549 $ 3,549 $ 3,549 $ 3,549 SUB -TOTAL - EXPENSES $ 13,293 $ 13,293 $ 13,293 $ 13,293 $ 13,293
RESERVES
Replacement Reserve Deposit 10.0% $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 Operating Reserve Deposit $ - $ - $ - $ - $ -
SUB-TOTAL - RESERVES $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 TOTAL OPERATING EXPENSES $ 15,036 $ 15,036 $ 15,036 $ 15,036 $ 15,036 NET OPERATING INCOME (INCOME minus OP EXPENSES) $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390
HARD DEBT SERVICE
Debt A (1st position)
Debt B (2nd position)
Debt C (3rd position)
TOTAL - HARD DEBT SERVICE $ - $ - $ - $ - $ -
NET CASH FLOW (NOI minus DEBT SERVICE) $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 Debt Service Coverage Ratio #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! [Ctrl + 8] outline on/off
$ 39,879
$ 5,228
$ 45,107
6 7 8 9 10 11 12
10/1/2026 11/1/2026 12/1/2026 1/1/2027 2/1/2027 3/1/2027 4/1/2027 Y1 TOTAL $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 17,825 $ 213,900 $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (1,070) $ (12,834) $ 16,756 $ 16,756 $ 16,756 $ 16,756 $ 16,756 $ 16,756 $ 16,756 $ 201,066 $ - $ - $ - $ - $ - $ - $ - $ -
$ 4 $ 4 $ 4 $ 4 $ 4 $ 4 $ 4 $ 50
$ - $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ - $ -
$ 3 $ 3 $ 3 $ 3 $ 3 $ 3 $ 3 $ 33
$ - $ - $ - $ - $ - $ - $ - $ -
$ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 300 $ 3,602
$ 307 $ 307 $ 307 $ 307 $ 307 $ 307 $ 307 $ 3,685
$ 17,063 $ 17,063 $ 17,063 $ 17,063 $ 17,063 $ 17,063 $ 17,063 $ 204,751 $ 363 $ 363 $ 363 $ 363 $ 363 $ 363 $ 363 $ 4,353
$ 363 $ 363 $ 363 $ 363 $ 363 $ 363 $ 363 $ 4,353
$ - $ - $ - $ - $ - $ - $ - $ -
$ 17,425 $ 17,425 $ 17,425 $ 17,425 $ 17,425 $ 17,425 $ 17,425 $ 209,104 $ 953 $ 953 $ 953 $ 953 $ 953 $ 953 $ 953 $ 11,437
$ 953 $ 953 $ 953 $ 953 $ 953 $ 953 $ 953 $ 11,437
$ 592 $ 592 $ 592 $ 592 $ 592 $ 592 $ 592 $ 7,105
$ - $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ - $ -
$ 623 $ 623 $ 623 $ 623 $ 623 $ 623 $ 623 $ 7,476
$ 1,215 $ 1,215 $ 1,215 $ 1,215 $ 1,215 $ 1,215 $ 1,215 $ 14,581 $ 858 $ 858 $ 858 $ 858 $ 858 $ 858 $ 858 $ 10,300
$ 287 $ 287 $ 287 $ 287 $ 287 $ 287 $ 287 $ 3,441
$ 28 $ 28 $ 28 $ 28 $ 28 $ 28 $ 28 $ 332
$ 150 $ 150 $ 150 $ 150 $ 150 $ 150 $ 150 $ 1,806
$ 984 $ 984 $ 984 $ 984 $ 984 $ 984 $ 984 $ 11,806
$ 172 $ 172 $ 172 $ 172 $ 172 $ 172 $ 172 $ 2,060
$ 271 $ 271 $ 271 $ 271 $ 271 $ 271 $ 271 $ 3,254
$ 871 $ 871 $ 871 $ 871 $ 871 $ 871 $ 871 $ 10,455
$ 3,621 $ 3,621 $ 3,621 $ 3,621 $ 3,621 $ 3,621 $ 3,621 $ 43,455 $ 292 $ 292 $ 292 $ 292 $ 292 $ 292 $ 292 $ 3,500
$ 515 $ 515 $ 515 $ 515 $ 515 $ 515 $ 515 $ 6,183
$ 460 $ 460 $ 460 $ 460 $ 460 $ 460 $ 460 $ 5,519
$ 725 $ 725 $ 725 $ 725 $ 725 $ 725 $ 725 $ 8,696
$ 191 $ 191 $ 191 $ 191 $ 191 $ 191 $ 191 $ 2,298
$ 219 $ 219 $ 219 $ 219 $ 219 $ 219 $ 219 $ 2,632
$ 2,111 $ 2,111 $ 2,111 $ 2,111 $ 2,111 $ 2,111 $ 2,111 $ 25,327 $ 1,305 $ 1,305 $ 1,305 $ 1,305 $ 1,305 $ 1,305 $ 1,305 $ 15,662 $ 15 $ 15 $ 15 $ 15 $ 15 $ 15 $ 15 $ 185
$ 83 $ 83 $ 83 $ 83 $ 83 $ 83 $ 83 $ 1,000
$ 1,404 $ 1,404 $ 1,404 $ 1,404 $ 1,404 $ 1,404 $ 1,404 $ 16,847 $ 53 $ 53 $ 53 $ 53 $ 53 $ 53 $ 53 $ 631
$ 7,480 $ 7,480 $ 7,480 $ 7,480 $ 7,480 $ 7,480 $ 7,480 $ 89,761 $ 79 $ 79 $ 79 $ 79 $ 79 $ 79 $ 79 $ 945
$ 79 $ 79 $ 79 $ 79 $ 79 $ 79 $ 79 $ 945
$ 17 $ 17 $ 17 $ 17 $ 17 $ 17 $ 17 $ 200
$ 17 $ 17 $ 17 $ 17 $ 17 $ 17 $ 17 $ 200
$ 63 $ 63 $ 63 $ 63 $ 63 $ 63 $ 63 $ 750
$ 1,250 $ 1,250 $ 1,250 $ 1,250 $ 1,250 $ 1,250 $ 1,250 $ 15,000 $ 2,091 $ 2,091 $ 2,091 $ 2,091 $ 2,091 $ 2,091 $ 2,091 $ 25,092 $ 146 $ 146 $ 146 $ 146 $ 146 $ 146 $ 146 $ 1,750
$ 3,549 $ 3,549 $ 3,549 $ 3,549 $ 3,549 $ 3,549 $ 3,549 $ 42,592 $ 13,293 $ 13,293 $ 13,293 $ 13,293 $ 13,293 $ 13,293 $ 13,293 $ 159,516 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 20,910 $ - $ - $ - $ - $ - $ - $ -
$ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 1,743 $ 20,910 $ 15,036 $ 15,036 $ 15,036 $ 15,036 $ 15,036 $ 15,036 $ 15,036 $ 180,426 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 28,678 $ - $ - $ - $ - $ - $ - $ - $ -
$ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 2,390 $ 28,678 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 76%
Comments
Property premium $ 10,892
Insurance Quote
General libaility premium $ 900
BRIDGE Dec 2025 YTD Operating Statement - Audit Total $ 11,792 BRIDGE Dec 2025 YTD Operating Statement - Bookkeeping fees BRIDGE Dec 2025 YTD Operating Statement
BRIDGE Dec 2025 YTD Operating Statement
BRIDGE Dec 2025 YTD Operating Statement
BRIDGE Dec 2025 YTD Operating Statement
BRIDGE Dec 2025 YTD Operating Statement
BRIDGE Dec 2025 YTD Operating Statement
Proforma
BRIDGE Dec 2025 YTD Operating Statement 2026
BRIDGE Dec 2025 YTD Operating Statement $ 24,012
BRIDGE Dec 2025 YTD Operating Statement
BRIDGE Dec 2025 YTD Operating Statement Rate change
Per Stambaugh 2025
Dec 2025 YTD Operating Statement
Gas $ 5,974
Prodesse Property Group Electricity $ 5,332
Per Stambaugh Water $ 8,402
Assuming average rent of $2,000 and 1 turnover per yr Sewer $ 2,220 Utilities (electricity, gas,
water, sewer)
Total $ 21,928
Per Stambaugh
Nonprofit Insurace Alliance
Placeholder
Jan + April Rate Increase
5%
$ 11,437
$ 945
$ 12,382
2025 Budget 2024 2023 2022 2021
$ 24,012 $ 23,549 $ 22,757 $ 25,639 $ 21,587
1.97% 3.48% 5.42%
Updated Proforma
$ 6,183
$ 5,519
$ 8,696
$ 2,298
Sourced from audited financial statements and budget
$ 22,695
8 Visitacion Avenue, Brisbane
Annual
Increase
Notes Calc. Factors
INCOME
Program Income
Rent Revenue 3.00%
Vacancy (%) -6.00%
Rent Revenue Total
Other Rental Property Income
Storage Rents
Application Fees
Late Fees
Renters Insurance - Prodesse's 3rd Party Plan
Laundry 1.00%
Parking 3.00%
Commercial Unit Utilities 3.00%
Total Other Rental Property Income
Total Program Income
Investments
Interest-Savings, Short-term CD 3.00%
Total Investments
Miscellaneous Revenue
GROSS EFFECTIVE INCOME
EXPENSES
Facilities and Equipment
Property Insurance 3.00%
Total Facilities and Equipment
Contract Services
Accounting Fees 3.00%
Legal Fees
Consultants
Professional Services - Other 3.00%
Total Contract Services
Property Operating Expenses
Repairs & Maintenance 3.00%
Fire Safety/Contracts 3.00%
HVAC Repairs 3.00%
Pest Control/Contracts 3.00%
Landscaping/tree/yard servicer 3.00%
Roof & Gutter Repairs/Maintenance 3.00%
Other Contracts 3.00%
Miscellaneous Operating & Maintenance 3.00% 5%
Total Repairs & Maintenance Expenses
Unit Turnover Costs
Bath/Kitchen repairs
Painting
Total Unit Turnover Costs 3.00%
Utilies Common Area
Gas 3.50%
Electricity 3.50%
Water 3.50%
Sewer 3.50%
Garbage 3.50%
Total Utilities Common Area
Property Management Fees 7.20%
Property Manager Admin Fees 3.00%
Lease-up Fee 3.00%
Total Property Management Fees
Licenses, Permits & Dues 3.00%
Total Property Operating Expenses
Other Types of Expenses
Insurance - Liability, D and O 3.00%
Total Other Types of Expenses
Travel and Meetings
Mileage, Tolls and Parking 3.00%
Total Travel and Meetings
Business Expenses
Property Tax 2.00%
Project Asset Management Fee 3.50% $ 15,000
Staffing, Admin & Management (HEART-SV) 3.00% 12%
City Monitoring Fee 3.00% $ 1,750
Total Business Expenses
SUB-TOTAL EXPENSES
RESERVES
Replacement Reserve Deposit
Operating Reserve Deposit
SUB-TOTAL - RESERVES
TOTAL OPERATING EXPENSES
NET OPERATING INCOME (INCOME minus OP EXPENSES)
HARD DEBT SERVICE Amount Rate Term
NONE
TOTAL HARD DEBT SERVICE
NET CASH FLOW (NOI minus DEBT SERVICE)
Debt Service Coverage Ratio
DISTRIBUTION OF CASH FLOW T1 T2
Deferred developer's Fee - HEART SV $ 60,000 47.29%
Residual Receipts Loans
HEART Loan $ 390,250 47.7% 69%
City of Brisbane/Housing Authority Loan $ 3,452,814 4.7% 29.3% County of San Mateo Loan $ 227,436 0.3% 1.9%
SCHEDULE OF OUTSTANDING DEBT (EOY) Principal Interest Rate Deferred developer's Fee - HEART SV $ 60,000 3.00%
HEART Loan $ 390,250 3.00%
City of Brisbane/Housing Authority Loan $ 3,452,814 3.00% County of San Mateo Loan $ 227,436 3.00%
1 2 3 4 5
$ 213,900 $ 220,317 $ 248,852 $ 254,367 $ 273,418
$ (12,834) $ (13,219) $ (14,931) $ (15,262) $ (16,405)
$ 201,066 $ 207,098 $ 233,921 $ 239,105 $ 257,013
$ - $ - $ - $ - $ -
$ 50 $ 50 $ 50 $ 50 $ 50
$ - $ - $ - $ - $ -
$ - $ - $ - $ - $ -
$ 33 $ 33 $ 34 $ 34 $ 34
$ - $ - $ - $ - $ -
$ 3,602 $ 3,710 $ 3,821 $ 3,936 $ 4,054
$ 3,685 $ 3,793 $ 3,905 $ 4,020 $ 4,138
$ 204,751 $ 210,891 $ 237,826 $ 243,125 $ 261,151
$ 4,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353
$ 4,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353
$ - $ - $ - $ - $ -
$ 209,104 $ 212,244 $ 239,179 $ 244,478 $ 262,504
$ 11,437 $ 11,780 $ 12,133 $ 12,497 $ 12,872
$ 11,437 $ 11,780 $ 12,133 $ 12,497 $ 12,872
$ 7,105 $ 7,318 $ 7,538 $ 7,764 $ 7,997
$ - $ - $ - $ - $ -
$ - $ - $ - $ - $ -
$ 7,476 $ 7,700 $ 7,931 $ 8,169 $ 8,414
$ 14,581 $ 15,018 $ 15,469 $ 15,933 $ 16,411
$ 10,300 $ 10,609 $ 10,927 $ 11,255 $ 11,593
$ 3,441 $ 3,544 $ 3,651 $ 3,760 $ 3,873
$ 332 $ 342 $ 353 $ 363 $ 374
$ 1,806 $ 1,860 $ 1,916 $ 1,973 $ 2,033
$ 11,806 $ 12,160 $ 12,525 $ 12,901 $ 13,288
$ 2,060 $ 2,122 $ 2,185 $ 2,251 $ 2,319
$ 3,254 $ 3,352 $ 3,452 $ 3,556 $ 3,663
$ 10,455 $ 10,612 $ 11,959 $ 12,224 $ 13,125
$ 43,455 $ 44,602 $ 46,968 $ 48,283 $ 50,266
$ 3,500 $ 3,605 $ 3,713 $ 3,825 $ 3,939
$ 6,183 $ 6,400 $ 6,624 $ 6,856 $ 7,096
$ 5,519 $ 5,712 $ 5,912 $ 6,118 $ 6,333
$ 8,696 $ 9,000 $ 9,315 $ 9,641 $ 9,979
$ 2,298 $ 2,378 $ 2,461 $ 2,548 $ 2,637
$ 2,632 $ 2,724 $ 2,819 $ 2,918 $ 3,020
$ 25,327 $ 26,214 $ 27,131 $ 28,081 $ 29,063
$ 15,662 $ 16,132 $ 18,195 $ 18,600 $ 19,980
$ 185 $ 191 $ 196 $ 202 $ 208
$ 1,000 $ 1,115 $ 1,259 $ 1,287 $ 1,383
$ 16,847 $ 17,438 $ 19,650 $ 20,089 $ 21,572
$ 631 $ 650 $ 670 $ 690 $ 711
$ 89,761 $ 92,508 $ 98,132 $ 100,968 $ 105,552
$ 945 $ 973 $ 1,003 $ 1,033 $ 1,064
$ 945 $ 973 $ 1,003 $ 1,033 $ 1,064
$ 200 $ 206 $ 212 $ 219 $ 225
$ 200 $ 206 $ 212 $ 219 $ 225
$ 750 $ 765 $ 780 $ 796 $ 812
$ 15,000 $ 15,525 $ 16,068 $ 16,631 $ 17,213
$ 25,092 $ 25,469 $ 28,701 $ 29,337 $ 31,500
$ 1,750 $ 1,803 $ 1,857 $ 1,912 $ 1,970
$ 42,592 $ 43,562 $ 47,407 $ 48,676 $ 51,495
$ 159,516 $ 164,047 $ 174,356 $ 179,325 $ 187,618
10% 10% 10% 10% 15%
$ 20,910 $ 21,224 $ 23,918 $ 24,448 $ 39,376
$ - $ - $ - $ - $ -
$ 20,910 $ 21,224 $ 23,918 $ 24,448 $ 39,376
$ 180,426 $ 185,272 $ 198,274 $ 203,773 $ 226,994
$ 28,678 $ 26,972 $ 40,905 $ 40,705 $ 35,510
$ - $ - $ - $ - $ -
$ 28,678 $ 26,972 $ 40,905 $ 40,705 $ 35,510
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
T3
$ 13,563 $ 12,756 $ 19,346 $ 19,251 $ (0)
$ 13,681 $ 12,867 $ 19,514 $ 19,419 $ 24,421
93.8% $ 1,345 $ 1,265 $ 1,919 $ 1,909 $ 10,404
6.2% $ 89 $ 83 $ 126 $ 126 $ 685
SUM $ 28,678 $ 26,972 $ 40,905 $ 40,705 $ 35,510
$ 48,237 $ 36,928 $ 18,690 $ (0) $ -
$ 388,276 $ 387,057 $ 379,155 $ 371,111 $ 357,823
$ 3,555,054 $ 3,657,373 $ 3,759,038 $ 3,860,713 $ 3,953,894 $ 234,170 $ 240,910 $ 247,606 $ 254,304 $ 260,442
6 7 8 9 10 11 12
$ 295,942 $ 314,223 $ 322,318 $ 347,637 $ 416,170 $ 428,656 $ 441,515 $ (17,757) $ (18,853) $ (19,339) $ (20,858) $ (24,970) $ (25,719) $ (26,491) $ 278,185 $ 295,370 $ 302,979 $ 326,779 $ 391,200 $ 402,936 $ 415,024 $ - $ - $ - $ - $ - $ - $ -
$ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50
$ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 35 $ 35 $ 35 $ 36 $ 36 $ 36 $ 37
$ - $ - $ - $ - $ - $ - $ -
$ 4,175 $ 4,301 $ 4,430 $ 4,563 $ 4,699 $ 4,840 $ 4,986 $ 4,260 $ 4,386 $ 4,515 $ 4,648 $ 4,785 $ 4,927 $ 5,072 $ 282,445 $ 299,755 $ 307,494 $ 331,427 $ 395,986 $ 407,863 $ 420,097 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ - $ - $ - $ - $ - $ - $ -
$ 283,799 $ 301,109 $ 308,847 $ 332,780 $ 397,339 $ 409,216 $ 421,450 $ 13,258 $ 13,656 $ 14,066 $ 14,488 $ 14,922 $ 15,370 $ 15,831 $ 13,258 $ 13,656 $ 14,066 $ 14,488 $ 14,922 $ 15,370 $ 15,831 $ 8,237 $ 8,484 $ 8,738 $ 9,000 $ 9,270 $ 9,549 $ 9,835 $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 8,667 $ 8,927 $ 9,195 $ 9,470 $ 9,754 $ 10,047 $ 10,349 $ 16,903 $ 17,410 $ 17,933 $ 18,471 $ 19,025 $ 19,596 $ 20,184 $ 11,941 $ 12,299 $ 12,668 $ 13,048 $ 13,439 $ 13,842 $ 14,258 $ 3,989 $ 4,109 $ 4,232 $ 4,359 $ 4,490 $ 4,625 $ 4,763 $ 385 $ 397 $ 409 $ 421 $ 434 $ 447 $ 460
$ 2,093 $ 2,156 $ 2,221 $ 2,288 $ 2,356 $ 2,427 $ 2,500 $ 13,686 $ 14,097 $ 14,520 $ 14,955 $ 15,404 $ 15,866 $ 16,342 $ 2,388 $ 2,460 $ 2,534 $ 2,610 $ 2,688 $ 2,768 $ 2,852 $ 3,772 $ 3,886 $ 4,002 $ 4,122 $ 4,246 $ 4,373 $ 4,505 $ 14,190 $ 15,055 $ 15,442 $ 16,639 $ 19,867 $ 20,461 $ 21,072 $ 52,445 $ 54,459 $ 56,028 $ 58,442 $ 62,924 $ 64,809 $ 66,752 $ 4,057 $ 4,179 $ 4,305 $ 4,434 $ 4,567 $ 4,704 $ 4,845 $ 7,344 $ 7,601 $ 7,867 $ 8,142 $ 8,427 $ 8,722 $ 9,028 $ 6,554 $ 6,784 $ 7,021 $ 7,267 $ 7,521 $ 7,784 $ 8,057 $ 10,328 $ 10,689 $ 11,064 $ 11,451 $ 11,852 $ 12,266 $ 12,696 $ 2,729 $ 2,825 $ 2,923 $ 3,026 $ 3,132 $ 3,241 $ 3,355 $ 3,126 $ 3,235 $ 3,348 $ 3,465 $ 3,587 $ 3,712 $ 3,842 $ 30,081 $ 31,134 $ 32,223 $ 33,351 $ 34,518 $ 35,726 $ 36,977 $ 21,611 $ 22,936 $ 23,528 $ 25,361 $ 30,305 $ 31,214 $ 32,151 $ 214 $ 221 $ 228 $ 234 $ 241 $ 249 $ 256
$ 1,497 $ 1,590 $ 1,631 $ 1,759 $ 2,106 $ 2,169 $ 2,234 $ 23,323 $ 24,747 $ 25,387 $ 27,354 $ 32,652 $ 33,632 $ 34,641 $ 732 $ 754 $ 776 $ 800 $ 824 $ 848 $ 874
$ 110,638 $ 115,272 $ 118,718 $ 124,380 $ 135,485 $ 139,720 $ 144,088 $ 1,096 $ 1,128 $ 1,162 $ 1,197 $ 1,233 $ 1,270 $ 1,308 $ 1,096 $ 1,128 $ 1,162 $ 1,197 $ 1,233 $ 1,270 $ 1,308 $ 232 $ 239 $ 246 $ 253 $ 261 $ 269 $ 277
$ 232 $ 239 $ 246 $ 253 $ 261 $ 269 $ 277
$ 828 $ 845 $ 862 $ 879 $ 896 $ 914 $ 933
$ 17,815 $ 18,439 $ 19,084 $ 19,752 $ 20,443 $ 21,159 $ 21,900 $ 34,056 $ 36,133 $ 37,062 $ 39,934 $ 47,681 $ 49,106 $ 50,574 $ 2,029 $ 2,090 $ 2,152 $ 2,217 $ 2,283 $ 2,352 $ 2,422 $ 54,728 $ 57,506 $ 59,160 $ 62,781 $ 71,304 $ 73,531 $ 75,828 $ 196,855 $ 205,212 $ 211,285 $ 221,571 $ 242,230 $ 249,755 $ 257,516 15% 15% 15% 15% 15% 15% 15%
$ 42,570 $ 45,166 $ 46,327 $ 49,917 $ 59,601 $ 61,382 $ 63,217 $ - $ - $ - $ - $ - $ - $ -
$ 42,570 $ 45,166 $ 46,327 $ 49,917 $ 59,601 $ 61,382 $ 63,217 $ 239,425 $ 250,378 $ 257,612 $ 271,488 $ 301,830 $ 311,137 $ 320,733 $ 44,374 $ 50,731 $ 51,235 $ 61,293 $ 95,508 $ 98,079 $ 100,717 $ - $ - $ - $ - $ - $ - $ -
$ 44,374 $ 50,731 $ 51,235 $ 61,293 $ 95,508 $ 98,079 $ 100,717 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ 30,517 $ 34,888 $ 35,235 $ 42,152 $ 65,683 $ 67,450 $ 69,265 $ 13,001 $ 14,863 $ 15,011 $ 17,958 $ 27,983 $ 28,736 $ 29,509 $ 856 $ 979 $ 989 $ 1,183 $ 1,843 $ 1,893 $ 1,944
$ 44,374 $ 50,731 $ 51,235 $ 61,293 $ 95,508 $ 98,079 $ 100,717 $ - $ - $ - $ - $ - $ - $ -
$ 338,042 $ 313,295 $ 287,458 $ 253,930 $ 195,865 $ 134,291 $ 69,055 $ 4,044,477 $ 4,133,198 $ 4,221,772 $ 4,307,398 $ 4,383,000 $ 4,457,849 $ 4,531,925 $ 266,408 $ 272,252 $ 278,087 $ 283,727 $ 288,707 $ 293,637 $ 298,516 13 14 15 16 17 18 19
$ 454,761 $ 468,404 $ 482,456 $ 496,929 $ 511,837 $ 527,192 $ 543,008 $ (27,286) $ (28,104) $ (28,947) $ (29,816) $ (30,710) $ (31,632) $ (32,580) $ 427,475 $ 440,299 $ 453,508 $ 467,114 $ 481,127 $ 495,561 $ 510,428 $ - $ - $ - $ - $ - $ - $ -
$ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50
$ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 37 $ 38 $ 38 $ 38 $ 39 $ 39 $ 39
$ - $ - $ - $ - $ - $ - $ -
$ 5,135 $ 5,289 $ 5,448 $ 5,611 $ 5,780 $ 5,953 $ 6,132 $ 5,222 $ 5,377 $ 5,536 $ 5,700 $ 5,868 $ 6,042 $ 6,221 $ 432,697 $ 445,676 $ 459,044 $ 472,813 $ 486,995 $ 501,603 $ 516,649 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ - $ - $ - $ - $ - $ - $ -
$ 434,051 $ 447,029 $ 460,397 $ 474,166 $ 488,348 $ 502,956 $ 518,002 $ 16,306 $ 16,795 $ 17,299 $ 17,818 $ 18,352 $ 18,903 $ 19,470 $ 16,306 $ 16,795 $ 17,299 $ 17,818 $ 18,352 $ 18,903 $ 19,470 $ 10,130 $ 10,434 $ 10,747 $ 11,069 $ 11,401 $ 11,743 $ 12,096 $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 10,659 $ 10,979 $ 11,308 $ 11,647 $ 11,997 $ 12,357 $ 12,727 $ 20,789 $ 21,413 $ 22,055 $ 22,717 $ 23,398 $ 24,100 $ 24,823 $ 14,685 $ 15,126 $ 15,580 $ 16,047 $ 16,528 $ 17,024 $ 17,535 $ 4,906 $ 5,054 $ 5,205 $ 5,361 $ 5,522 $ 5,688 $ 5,858 $ 474 $ 488 $ 503 $ 518 $ 533 $ 549 $ 566
$ 2,575 $ 2,652 $ 2,732 $ 2,813 $ 2,898 $ 2,985 $ 3,074 $ 16,832 $ 17,337 $ 17,857 $ 18,393 $ 18,945 $ 19,513 $ 20,099 $ 2,937 $ 3,025 $ 3,116 $ 3,209 $ 3,306 $ 3,405 $ 3,507 $ 4,640 $ 4,779 $ 4,922 $ 5,070 $ 5,222 $ 5,379 $ 5,540 $ 21,703 $ 22,351 $ 23,020 $ 23,708 $ 24,417 $ 25,148 $ 25,900 $ 68,752 $ 70,812 $ 72,935 $ 75,120 $ 77,372 $ 79,691 $ 82,080 $ 4,990 $ 5,140 $ 5,294 $ 5,453 $ 5,616 $ 5,785 $ 5,959 $ 9,344 $ 9,671 $ 10,009 $ 10,359 $ 10,722 $ 11,097 $ 11,486 $ 8,339 $ 8,631 $ 8,933 $ 9,245 $ 9,569 $ 9,904 $ 10,251 $ 13,140 $ 13,600 $ 14,076 $ 14,569 $ 15,078 $ 15,606 $ 16,152 $ 3,472 $ 3,594 $ 3,719 $ 3,850 $ 3,984 $ 4,124 $ 4,268 $ 3,977 $ 4,116 $ 4,260 $ 4,409 $ 4,563 $ 4,723 $ 4,888 $ 38,271 $ 39,611 $ 40,997 $ 42,432 $ 43,917 $ 45,454 $ 47,045 $ 33,115 $ 34,109 $ 35,132 $ 36,186 $ 37,271 $ 38,389 $ 39,541 $ 264 $ 272 $ 280 $ 288 $ 297 $ 306 $ 315
$ 2,301 $ 2,370 $ 2,441 $ 2,514 $ 2,590 $ 2,667 $ 2,747 $ 35,680 $ 36,750 $ 37,853 $ 38,988 $ 40,158 $ 41,362 $ 42,603 $ 900 $ 927 $ 955 $ 984 $ 1,013 $ 1,044 $ 1,075
$ 148,593 $ 153,240 $ 158,033 $ 162,977 $ 168,076 $ 173,336 $ 178,761 $ 1,347 $ 1,388 $ 1,429 $ 1,472 $ 1,516 $ 1,562 $ 1,609 $ 1,347 $ 1,388 $ 1,429 $ 1,472 $ 1,516 $ 1,562 $ 1,609 $ 285 $ 294 $ 303 $ 312 $ 321 $ 331 $ 340
$ 285 $ 294 $ 303 $ 312 $ 321 $ 331 $ 340
$ 951 $ 970 $ 990 $ 1,009 $ 1,030 $ 1,050 $ 1,071
$ 22,666 $ 23,459 $ 24,280 $ 25,130 $ 26,010 $ 26,920 $ 27,862 $ 52,086 $ 53,644 $ 55,248 $ 56,900 $ 58,602 $ 60,355 $ 62,160 $ 2,495 $ 2,570 $ 2,647 $ 2,726 $ 2,808 $ 2,892 $ 2,979 $ 78,198 $ 80,643 $ 83,165 $ 85,766 $ 88,449 $ 91,218 $ 94,073 $ 265,519 $ 273,772 $ 282,284 $ 291,061 $ 300,114 $ 309,449 $ 319,076 15% 15% 15% 20% 20% 20% 20%
$ 65,108 $ 67,054 $ 69,060 $ 94,833 $ 97,670 $ 100,591 $ 103,600 $ - $ - $ - $ - $ - $ - $ -
$ 65,108 $ 67,054 $ 69,060 $ 94,833 $ 97,670 $ 100,591 $ 103,600 $ 330,626 $ 340,827 $ 351,343 $ 385,895 $ 397,783 $ 410,040 $ 422,677 $ 103,424 $ 106,203 $ 109,054 $ 88,272 $ 90,565 $ 92,916 $ 95,325 $ - $ - $ - $ - $ - $ - $ -
$ 103,424 $ 106,203 $ 109,054 $ 88,272 $ 90,565 $ 92,916 $ 95,325 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ 71,127
$ 30,302 $ 99,639 $ 102,315 $ 82,817 $ 84,968 $ 87,174 $ 89,434 $ 1,996 $ 6,563 $ 6,739 $ 5,455 $ 5,597 $ 5,742 $ 5,891 $ 103,424 $ 106,203 $ 109,054 $ 88,272 $ 90,565 $ 92,916 $ 95,325 $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 4,605,208 $ 4,609,153 $ 4,610,422 $ 4,631,190 $ 4,649,806 $ 4,666,217 $ 4,680,368 $ 303,343 $ 303,603 $ 303,687 $ 305,055 $ 306,281 $ 307,362 $ 308,294 20 21 22 23 24 25 26
$ 559,298 $ 576,077 $ 593,360 $ 611,160 $ 629,495 $ 648,380 $ 667,831 $ (33,558) $ (34,565) $ (35,602) $ (36,670) $ (37,770) $ (38,903) $ (40,070) $ 525,740 $ 541,513 $ 557,758 $ 574,491 $ 591,725 $ 609,477 $ 627,762 $ - $ - $ - $ - $ - $ - $ -
$ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50
$ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 40 $ 40 $ 41 $ 41 $ 41 $ 42 $ 42
$ - $ - $ - $ - $ - $ - $ -
$ 6,316 $ 6,505 $ 6,700 $ 6,901 $ 7,108 $ 7,322 $ 7,541 $ 6,405 $ 6,595 $ 6,791 $ 6,992 $ 7,200 $ 7,413 $ 7,633 $ 532,146 $ 548,108 $ 564,549 $ 581,483 $ 598,925 $ 616,891 $ 635,395 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ 1,353 $ - $ - $ - $ - $ - $ - $ -
$ 533,499 $ 549,461 $ 565,902 $ 582,836 $ 600,278 $ 618,244 $ 636,748 $ 20,054 $ 20,656 $ 21,275 $ 21,914 $ 22,571 $ 23,248 $ 23,946 $ 20,054 $ 20,656 $ 21,275 $ 21,914 $ 22,571 $ 23,248 $ 23,946 $ 12,459 $ 12,832 $ 13,217 $ 13,614 $ 14,022 $ 14,443 $ 14,876 $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 13,109 $ 13,502 $ 13,908 $ 14,325 $ 14,755 $ 15,197 $ 15,653 $ 25,568 $ 26,335 $ 27,125 $ 27,939 $ 28,777 $ 29,640 $ 30,529 $ 18,061 $ 18,603 $ 19,161 $ 19,736 $ 20,328 $ 20,938 $ 21,566 $ 6,034 $ 6,215 $ 6,402 $ 6,594 $ 6,792 $ 6,995 $ 7,205 $ 583 $ 600 $ 618 $ 637 $ 656 $ 676 $ 696
$ 3,167 $ 3,262 $ 3,359 $ 3,460 $ 3,564 $ 3,671 $ 3,781 $ 20,702 $ 21,323 $ 21,962 $ 22,621 $ 23,300 $ 23,999 $ 24,719 $ 3,612 $ 3,721 $ 3,832 $ 3,947 $ 4,066 $ 4,188 $ 4,313 $ 5,706 $ 5,877 $ 6,054 $ 6,235 $ 6,422 $ 6,615 $ 6,814 $ 26,675 $ 27,473 $ 28,295 $ 29,142 $ 30,014 $ 30,912 $ 31,837 $ 84,540 $ 87,074 $ 89,684 $ 92,372 $ 95,141 $ 97,993 $ 100,931 $ 6,137 $ 6,321 $ 6,511 $ 6,706 $ 6,908 $ 7,115 $ 7,328 $ 11,888 $ 12,304 $ 12,734 $ 13,180 $ 13,641 $ 14,119 $ 14,613 $ 10,609 $ 10,981 $ 11,365 $ 11,763 $ 12,175 $ 12,601 $ 13,042 $ 16,718 $ 17,303 $ 17,908 $ 18,535 $ 19,184 $ 19,855 $ 20,550 $ 4,417 $ 4,572 $ 4,732 $ 4,898 $ 5,069 $ 5,247 $ 5,430 $ 5,059 $ 5,236 $ 5,420 $ 5,609 $ 5,806 $ 6,009 $ 6,219 $ 48,691 $ 50,396 $ 52,159 $ 53,985 $ 55,875 $ 57,830 $ 59,854 $ 40,727 $ 41,949 $ 43,207 $ 44,503 $ 45,838 $ 47,214 $ 48,630 $ 324 $ 334 $ 344 $ 354 $ 365 $ 376 $ 387
$ 2,830 $ 2,915 $ 3,002 $ 3,092 $ 3,185 $ 3,280 $ 3,379 $ 43,881 $ 45,198 $ 46,554 $ 47,950 $ 49,388 $ 50,870 $ 52,396 $ 1,107 $ 1,140 $ 1,174 $ 1,210 $ 1,246 $ 1,283 $ 1,322 $ 184,357 $ 190,129 $ 196,082 $ 202,224 $ 208,558 $ 215,092 $ 221,832 $ 1,657 $ 1,707 $ 1,758 $ 1,811 $ 1,865 $ 1,921 $ 1,979 $ 1,657 $ 1,707 $ 1,758 $ 1,811 $ 1,865 $ 1,921 $ 1,979 $ 351 $ 361 $ 372 $ 383 $ 395 $ 407 $ 419
$ 351 $ 361 $ 372 $ 383 $ 395 $ 407 $ 419
$ 1,093 $ 1,114 $ 1,137 $ 1,159 $ 1,183 $ 1,206 $ 1,230 $ 28,838 $ 29,847 $ 30,891 $ 31,973 $ 33,092 $ 34,250 $ 35,449 $ 64,020 $ 65,935 $ 67,908 $ 69,940 $ 72,033 $ 74,189 $ 76,410 $ 3,069 $ 3,161 $ 3,256 $ 3,353 $ 3,454 $ 3,557 $ 3,664 $ 97,019 $ 100,057 $ 103,192 $ 106,426 $ 109,762 $ 113,203 $ 116,753 $ 329,005 $ 339,245 $ 349,805 $ 360,696 $ 371,927 $ 383,511 $ 395,457 20% 20% 20% 20% 15% 15% 15%
$ 106,700 $ 109,892 $ 113,180 $ 116,567 $ 90,042 $ 92,737 $ 95,512 $ - $ - $ - $ - $ - $ - $ -
$ 106,700 $ 109,892 $ 113,180 $ 116,567 $ 90,042 $ 92,737 $ 95,512 $ 435,705 $ 449,137 $ 462,985 $ 477,263 $ 461,969 $ 476,247 $ 490,969 $ 97,794 $ 100,324 $ 102,917 $ 105,573 $ 138,309 $ 141,997 $ 145,779 $ - $ - $ - $ - $ - $ - $ -
$ 97,794 $ 100,324 $ 102,917 $ 105,573 $ 138,309 $ 141,997 $ 145,779 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ 91,750 $ 94,124 $ 96,557 $ 99,049 $ 129,762 $ 133,221 $ 136,770 $ 6,044 $ 6,200 $ 6,360 $ 6,524 $ 8,547 $ 8,775 $ 9,009 $ 97,794 $ 100,324 $ 102,917 $ 105,573 $ 138,309 $ 141,997 $ 145,779 $ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ - $ -
$ 4,692,202 $ 4,701,662 $ 4,708,690 $ 4,713,225 $ 4,687,047 $ 4,657,411 $ 4,624,225 $ 309,074 $ 309,697 $ 310,160 $ 310,458 $ 308,734 $ 306,782 $ 304,596 27 28 29 30
$ 687,866 $ 708,502 $ 729,757 $ 751,650
$ (41,272) $ (42,510) $ (43,785) $ (45,099)
$ 646,594 $ 665,992 $ 685,972 $ 706,551
$ - $ - $ - $ -
$ 50 $ 50 $ 50 $ 50
$ - $ - $ - $ -
$ - $ - $ - $ -
$ 43 $ 43 $ 44 $ 44
$ - $ - $ - $ -
$ 7,767 $ 8,000 $ 8,240 $ 8,488
$ 7,860 $ 8,094 $ 8,334 $ 8,582
$ 654,454 $ 674,086 $ 694,306 $ 715,133
$ 1,353 $ 1,353 $ 1,353 $ 1,353
$ 1,353 $ 1,353 $ 1,353 $ 1,353
$ - $ - $ - $ -
$ 655,808 $ 675,439 $ 695,659 $ 716,486
$ 24,664 $ 25,404 $ 26,166 $ 26,951
$ 24,664 $ 25,404 $ 26,166 $ 26,951
$ 15,323 $ 15,782 $ 16,256 $ 16,743
$ - $ - $ - $ -
$ - $ - $ - $ -
$ 16,123 $ 16,606 $ 17,105 $ 17,618
$ 31,445 $ 32,389 $ 33,360 $ 34,361
$ 22,213 $ 22,879 $ 23,566 $ 24,273
$ 7,421 $ 7,644 $ 7,873 $ 8,109
$ 717 $ 738 $ 760 $ 783
$ 3,894 $ 4,011 $ 4,132 $ 4,256
$ 25,460 $ 26,224 $ 27,011 $ 27,821
$ 4,443 $ 4,576 $ 4,713 $ 4,855
$ 7,018 $ 7,228 $ 7,445 $ 7,669
$ 32,790 $ 33,772 $ 34,783 $ 35,824
$ 103,957 $ 107,073 $ 110,283 $ 113,590
$ 7,548 $ 7,775 $ 8,008 $ 8,248
$ 15,124 $ 15,654 $ 16,202 $ 16,769
$ 13,498 $ 13,971 $ 14,459 $ 14,966
$ 21,270 $ 22,014 $ 22,785 $ 23,582
$ 5,620 $ 5,817 $ 6,021 $ 6,231
$ 6,437 $ 6,662 $ 6,895 $ 7,137
$ 61,949 $ 64,117 $ 66,361 $ 68,684
$ 50,089 $ 51,591 $ 53,139 $ 54,733
$ 399 $ 411 $ 423 $ 436
$ 3,480 $ 3,585 $ 3,692 $ 3,803
$ 53,968 $ 55,587 $ 57,254 $ 58,972
$ 1,362 $ 1,402 $ 1,444 $ 1,488
$ 228,784 $ 235,955 $ 243,352 $ 250,982
$ 2,038 $ 2,099 $ 2,162 $ 2,227
$ 2,038 $ 2,099 $ 2,162 $ 2,227
$ 431 $ 444 $ 458 $ 471
$ 431 $ 444 $ 458 $ 471
$ 1,255 $ 1,280 $ 1,306 $ 1,332
$ 36,689 $ 37,974 $ 39,303 $ 40,678
$ 78,697 $ 81,053 $ 83,479 $ 85,978
$ 3,774 $ 3,887 $ 4,004 $ 4,124
$ 120,415 $ 124,194 $ 128,091 $ 132,112
$ 407,778 $ 420,484 $ 433,589 $ 447,105
15% 15% 15% 15%
$ 98,371 $ 101,316 $ 104,349 $ 107,473
$ - $ - $ - $ -
$ 98,371 $ 101,316 $ 104,349 $ 107,473
$ 506,149 $ 521,800 $ 537,938 $ 554,577
$ 149,659 $ 153,639 $ 157,721 $ 161,909
$ - $ - $ - $ -
$ 149,659 $ 153,639 $ 157,721 $ 161,909
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
$ 140,410 $ 144,144 $ 147,974 $ 151,903
$ 9,249 $ 9,495 $ 9,747 $ 10,006
$ 149,659 $ 153,639 $ 157,721 $ 161,909
$ - $ - $ - $ -
$ - $ - $ - $ -
$ 4,587,399 $ 4,546,840 $ 4,502,450 $ 4,454,131
$ 302,170 $ 299,499 $ 296,575 $ 293,392