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Ramsey AL/MC Cash Flow Projections
<br />Total Project Cob $ 32,300,000 100.00%1 1000 ALF/MC Inflation Trend: Economic Occupancy /Vacancy
<br />Equity $ 9,690,000 30.00% Mmnt. Fee Expenses 2.00% Op Vrl 40.0% 60.0%
<br />Primary Lon $ 22,610,000 70.00% Units 102 Taxes 2.00% Op Yr2 70.0% 30.0%
<br />Interest Rate Yrs 1-2 6.2:9 Rent 2.00% Op Yr 3 93.0% 7.0%
<br />Interest Rate Yrs 3-7 6.25% Other Income 1.00%
<br />Term 30
<br />Construction: 12 months
<br />Op Yr #1 Op Yr q2 Op Yr q3 Op Yr q4 Op Yr q5 Op Yr q6 Op Yr q7 Op Yr q8 Op Yr q9 Op Yr q10
<br />Rental Income (6a11+e011111( $7,198,103 35,681 $7,342,065 $5,998 $7,488,906 $6,118 $7,638,685 56,241 $7,791,458 56,366 57 947,287 $6,493 $8,106,233 56,623 58,268,358 56,755 58,433,725 $6,890 58,602,399 57,028
<br />Vacancy/Loss-54,336,028-52,202,620-$524,223-$534,70H-5545,402 -$556,310-5567,436 -$578,765
<br />EFFECTIVE GROSS INCOME $2,B62A75 55,139,446 56,964,683 $7,103,977 57,246,056 $7j90,977 57,536,797 57,689,573 $7,843,364-$590,361-$602,166
<br />$8,000,231
<br />Other Income $70,193 $124,811 $167,478 $170,828 5174,244 $177,729 5181,284 $184,909 $188,607 5192,380
<br />Total Revenue I $2,932,268 $5,264,256 $7,132,161 $7,274,804 $7,420,300 57,568,706 $7,720,090 $7,874,432 $8,031,972 $8,192,611
<br />EXPENSES
<br />• Administration $400,000 $400,000 0 $408,000 $416,160 x 5424,483 3 $432,973 5441,632 $450,435 $459,474 5468,664
<br />• Human Resources $30,000 532,313 ::A 532,960 533,619 :I0 $34,291 S% 534,977 $35,676 536,390 537,118 537,860
<br />• Sales & Marketing $120,000 $146,916 :"4 $149,855 $152,852 0 5155,909 '% $159,027 5162,207 $165,452 $168,761 5172,136
<br />• Activities & Entertainment $157,500 $167,088 A $170,430 $173,838 :8 5177,315 :% $180,861 $184,478 $188,168 $191,931 5135,770
<br />• Assisted Living $920,000 51,425,000 1% 51,850,000 51,887,000 3% $1,924,740 9% 51,963,235 $2,002,499 52,042349 $2,083,400 52,125,068 'i
<br />• Dietary 5349,932 $725,000 .IC% $851,539 $868,569 3% $885,941 9% $903,660 $921,733 $940,168 $958,971 5978,150 '6
<br />• Housekeeping $100,000 $130,696 1 $177,112 $180,654 -& 5184,267 t $187,952 5191,711 $195,545 $199,456 5203,446
<br />x Maintenance & Repairs-Fadlity $150,000 $288,172 9 $390,514 $398,324 .6 5406,290 $414,416 5422,704 $431,159 $439,782 5448,577
<br />Insurance $66,300 $104,040 96 $106,121 $108,243 .3 5110,408 $112,616 5114,865 $117,166 5119,509 $121,895
<br />Real Estate Taxes $172,446 $270,608 'b $276,020 $281,541 3% 5287,171 $292,915 5298,773 $304,749 $310,844 5317,060
<br />• Laundry 5617 $1,109 :% $1,503 $1,533 X 51,563 $1,595 $1,626 $1,659 51,692 $1,726
<br />x Management Fee/611e1Mgmt $161,275 $301,534 9 $404,269 $412,114 5420,117 $428,279 5436,604 $445,097 5453,758 5462,594
<br />Replacement Reserves 50 50 530,600 $30,600 $30,600 530,600 $30,600 531,212 531,836 $32,473
<br />Total Expenses I $2,623,071 89.6% $3,992,476 75.8% 54,848,920 68.0% 54,945,046 68.0% $5,043,095 f£.1.' 55,143,10 $5,245,115 $5,343,778 67.9% $5,456,533 67.9% $5,565,424
<br />INET OPERATING INCOME
<br />$304,197 10.416 51,271,781 24.2% 52,263,941 32.0% 52,329,758 32.0% 52,377,205 "=2..22222 52,425,601 52,474,965 52,524,704 32.1% 52,575,439 32.1% 52,627,187 32.196
<br />I Est TIFPayments I 5137,510 5237,937 $237,937 $237,937 $237,937 5237,937 5237,937 $237,937 5237,937 $237,937
<br />'TOTAL INCOME $411,707 51,509,716 $7 21,176 52,567,695 $2,615A4 52,663,536 $2,712,9@ 52,762,641 $2,813,376 $2,665,124
<br />Debt Service, Primary Lender -$1,413,125 -51,413,125 -$1,'70$W 1.37-$1,670$W-$1,670,564-$1,670,569-$1,670,564-$1,670$64 -$1,670,564-$1,670,564
<br />Rent/ Lease -Up Reserve $1,600,000 $800,000 $0 $0 50 $0 50 $0 50 50
<br />(PROJECTED ANNUAL CASH FLOW I $628,582
<br />$896,593
<br />$850,614
<br />$1397,131
<br />$944578
<br />$992,974
<br />$1,042,338
<br />$1,092,073
<br />$1,142,812
<br />$1,194,560
<br />Annual Cash -on -Cash Including TIF
<br />6.5%
<br />9.3%
<br />8.8%
<br />9.3%
<br />9.7%
<br />10.2%
<br />10.896
<br />11.3%
<br />11.8%
<br />12.396
<br />Cap on Cot Indudlnng TIF
<br />1.4%
<br />4.7%
<br />7.6%
<br />7.9%
<br />8.1%
<br />8.296
<br />8.416
<br />8.6%
<br />8.7%
<br />8.9%
<br />Confidential and Subject to Change- Preliminary and for discussion purposes only.
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