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<br />EXHIBIT G
<br />PROJECT PRO FORMA
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<br />
<br />
<br />DRAFT
<br />Estimated Value
<br />Centre Court, New, Washburne Buildings
<br />CenterNew CombinedWashburne
<br />ProgramCourtBuildingTotalBuilding
<br />Below Grade 12,800 12,800 25,600
<br />Ground Floor 12,800 12,800 25,600
<br />2nd Floor 7,500 12,800 20,300
<br />3rd Floor 12,800 12,800 25,600
<br />4th Floor 12,800 12,800 25,600
<br />5th Floor 12,800 12,800 25,600
<br /> 148,300
<br />Rental AssumptionsmonthlyCCNewWashburnePking/mo
<br />Below Grade$ 1.59$ 1.59$ 20,288$ 20,288$ -$ 65.03
<br />Ground Floor$ 23.00 $ 23.00$ 294,400$ 294,400$ 5,940
<br />2nd Floor$ 16.00 $ 22.68$ 120,000$ 290,304$ 99,924
<br />3rd Floor$ 22.50 $ 22.68$ 288,000$ 290,304$ 11,880
<br />4th Floor$ 24.00 $ 22.68$ 307,200$ 290,304$ 49,200
<br />5th Floor$ 26.00 $ 22.68$ 332,800$ 290,304$ -
<br /> 122,700 23.13$ 1,362,688$ 1,475,904$ 166,944
<br />Estimated NOI
<br />CC & NewWashburne
<br />Gross Rent Received$ 2,838,592$ 166,944
<br />Less: Vacancy5%$ (83,869) $ 11,6867% appraisal
<br />Total Forecasted Annual Revenue$ 2,754,723$ 155,258
<br />Total Expenses$ 879,664 12,421
<br />$ 5.93 8% appraisal
<br />EBT&DS$ 1,875,059$ 142,837
<br />Debt ServiceDCRDCR
<br />Bank6.4%25$ (1,264,357) 1.48
<br />HUD 1&2 & DRLP4.0%20$ (519,485) $ (69,633)2.05
<br />Total Debt Service$ (1,783,842) 1.05$ (69,633)
<br />EBT$ 91,217$ 73,205
<br />Dividend on Dev Equity6.1%
<br />Combined Div on Dev EQ11%
<br />Cap Rate7.5%$ 25,000,79094%LTV (Conv + HUD)
<br />Estimated Value
<br />Construction Loan @ Estimated Perm Mortgage$ 15,750,000
<br />65% LTV$ 16,250,514$ 500,514
<br />65% LTC$ 23,170,688
<br />EXHIBIT G
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