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Centerville TIF 1-8 <br />June 5, 2024 <br />Page 9 <br />Exhibit E <br />Centerville, MN <br />Centerville - Westview St. <br />104 Unit Residential Apartment Building <br />Preliminary Estimated Pro Forma <br />Calendar Year203220372042 <br />Year of TIF District51015 <br />Gross Income (before TIF)2,972,5413,281,9253,623,510 <br />Less Expenses and Reserve (before Real Estate Tax)(838,325)(925,579)(1,021,914) <br />Less Real Estate Tax(361,226)(379,653)(399,019) <br />Net Operating Income (NOI)1,772,9891,976,6942,202,578 <br />Plus TIF Revenue279,146293,888- <br />NOI with TIF2,052,1362,270,5812,202,578 <br />Debt Service1,599,1591,602,2531,605,669 <br />Net Cash Flow452,976668,328596,909 <br />Net Cash on Cash with TIF4.3%6.3%5.6% <br />Net Cash on Cash without TIF 1.6%3.5%5.6% <br />Debt coverage with TIF1.31.41.4 <br />Debt coverage without TIF1.01.11.4 <br />Notes: <br />1/ Total Development Cost (TDC):30,243,311 <br />2/ Total Equity:10,585,158 <br /> <br />