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-10- <br /> <br /> SAVANNAH OAKS... <br />2002 BUDGET NOTES <br /> <br />~Revellue <br />Apartment Rent . .. $.4.16,981 <br /> Apartment rent is based on-rents.effeeti-veim200t with, a 2% increase <br /> at lease renewal in 2002. <br /> · . Kenewal.Kate <br /> Floor Plan ~Sq. Et.. T~al Units. Current-Kent 2002.. <br /> <br />1BR 698 ...18 ..$584 <br />1BR+den 900 1.1.. $690. <br />1BR+den 942 ..9 ~72t <br />2BR 1020 12 $844 <br /> <br />$596 <br /> $~04.. <br />.4735 <br />$861 <br /> <br />Parking Rent <br /> Parking rent is based on 48 stalls at $35 per month <br /> <br />$20,160 <br /> <br />Miscellaneous Income - From guest suite, late fees, etc. <br /> <br />$ 840 <br /> <br />Interest Income -' based on 2001 averages <br />HRA Levy - per proforma <br /> <br />$I4,400 <br />$80,000 <br /> <br />Gross Revenue <br /> <br />$532~81 <br /> <br />Rent Concessions <br /> Employee rent concession,for, resident manager., on a.two bedroom <br /> apartment at $700 per month-with.a 2%.increase.in_February, 2002 .... <br /> Also included is a $200.per.month concession.for, back-up caretakers <br /> with a $25 increase on April 1, 2002. <br /> <br />Parking Concessions - One garage space for resident managers <br /> <br />$ 420 <br /> <br />_A_.mqxtment.~acanc¥ Loss <br /> Apartment vacancy at industry standard of 5%. <br /> <br />$20,.849 <br /> <br />Parking Vacancy Loss <br /> Parking vacancy loss based on the indUstry standard of 5% <br /> <br />$ 1,008 <br /> <br />Effective Revenue <br /> <br />~98~848 <br /> <br />Savannah Oaks of Ramsey <br /> <br />2002 Budget Notes <br /> <br />Jtme 5,2001 <br /> <br /> I <br /> i <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />