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�0��06264 <br />Scenario I <br />Year 15 Year 18 <br />Event Initial Sa1e Subsequent Sale <br />Qualified Tenant's Number of Years of Occupancy 6 9 <br />Initial Sale Fair Market Va1ue $80,000 $80,000 <br />Initial Sale Price $50,000 $SO,OQO <br />Subsequent Sale Price N/A $90,OOQ <br />Crown Equity $80,000-$50,00� $30,000 <br />$30,000 <br />Appreciation Equity $0 $90,000-$80,000=$ <br />10,000 <br />Amount of Crown Equity Allocable to Qualified ($80,000-$50,000) ($50,000-$50,004) <br />Tenant =$30,000 X 6/10 =$30,000 X 9/10 <br />=$18,000 =$27,000 <br />Amount of Crown Equity Allocable to Authority $30,Q00-$18,040= $30,000-$27,00� <br />$12,000 $3,000 <br />Total of Crown Equity and Appreciation Equity $15,000+$0= $27,000+$10,UQ� <br />Allocable to Qualified Tenant $18,000 $37,000 <br />'Assume for each scenario that the Qualified Tenant at the Inirial Sale purchases the Qualified Unit with 100% debt <br />and that at the Subsequent Sale no portion of the principal of this debt has been amortized. <br />4840-�52-9929.1 13 <br />