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3VENUES <br />_NT REVENUES <br />ntai Revenue <br />11-�ntal Vacancies <br />Net Rent Revenues <br />3TAL PROJECTED ANNUAL REVENUES <br />Page 1 <br />EXPLANATION <br />65,020 Rent Potential $25 rent increase effective Mayl, 2012 <br />6,502 Calculated 10% potential vacancy rate <br />58,518 <br />$58,518 <br />Page: 23 <br />West Grove 2011 Cash Projection.xis <br />AERATING EXPENSES <br />3 M INISTRATIVE EXPENSES <br />4,350 <br />Office Staff time <br />Administrative Expenses <br />Accounting Fees <br />1,800 <br />Includes Monthly fee accountant and annual audit costs <br />Credit Reports <br />50 <br />$35 /report. <br />Office Supplies <br />1QO <br />Total Administrative Expenses <br />6,200 <br />r ILITIES <br />Electric <br />150 <br />Estimate for Vacant Units Utilities <br />Gas <br />350 <br />Estimate for Vacant Units Utilities <br />Sewer & Water <br />150 <br />Estimate for Vacant Units Utilities <br />Refuse Removal <br />750 <br />Total Utilities <br />1,400 <br />NINTENANCE 8c REPAIRS <br />Maintenance Labor <br />2,500 <br />PLHRA Maintenance Personnel cost (repairs, lawn care, snow removal) <br />Maintenance Supplies <br />350 <br />Self Explanatory <br />Contracts <br />1,200 <br />Exterminating, Fertilizer, and Weed Control (in contracts) <br />General Repairs <br />500 <br />As needed outside contractor labor repairs. <br />Total Repairs & Maintenance <br />4,550 <br />LXES & INSURANCE <br />Real Estate Taxes (PILOT) <br />3,250 <br />Estimate for 2012 <br />"-operty Insurance <br />5,000 <br />Estimate for 2012 <br />Taxes & Insurance <br />8,250 <br />ITAL OPERATING EXPENSES BEFORE DEBT <br />$20,400 <br />ITAL PROJECTED REVENUES <br />58,518 <br />ITAL EXPENSES BEFORE DEBT <br />(20,400) <br />NET OPERATING INCOME <br />38,118 <br />PLACEMENT RESERVE - DEPOSITS <br />(2,400) $200 x 12 months <br />INUAL DEBT SERVICE <br />Mortgage Principal <br />$15,000 <br />Mortgage Interest <br />$58,968 <br />P & I payable in January and July <br />Annual Mortgage <br />($73,968) <br />ESTIMATED CASH FLOW <br />TO BE FUNDED BY CITY OF PEQUOT LAKES SPECIAL LEVY <br />($38,250) <br />- 0.517112245 <br />