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<br />~HOUSINGDEvEWPMENTCoRPORATION <br /> <br />400 SELBY AVENUE· SUITE C <br />SAINT PAUL, MINNESOTA 55102 <br />(612) 292-0211 <br /> <br />June 11, 1992 <br /> <br />Judy Karon <br />Community & Economic Development <br />Ramsey County <br />286 Court House <br />1 5 West Kellogg Blvd. <br />St. Paul, MN 55102 <br /> <br />, RE: Calibre Ridge HOME loan Amortization <br />Dear Judy: <br /> <br />In follow-up to your conversation with Colleen Carey, I've rerun the <br />cash flow analysis for Calibre Ridge. The 2 enclosed pro-formas reflect <br />a 20 year 0% interest and a 30 year 2 % interest amortization of the HOME <br />mortgage. As we've indicated earlier, TCHDC's main concern is retaining <br />the projected cash flow as we've shown potential investors. During the <br />first 15 years the investment pro-forma provided $309,000 cash flow to <br />the Limited Partner. The enclosed revised cash flow provide $214,800 in <br />the 30 year 2% amortization and $196,800 with a 20 year 0% amortization. <br /> <br />Although both of these fall far short of $309,000 certainly if there's <br />no option to make a deferred loan, then the 30 year 1 % interest term <br />would be our preference. <br /> <br />If more information is needed or you have questions regarding these <br />pro-forma, please feel free to call me. <br /> <br />Thank you, Judy. <br /> <br />Sincerely, <br /> <br />C <br /> <br />Carol Felsing . <br />Development Manager <br /> <br /> <br />enclosures <br /> <br />cc: Craig Waldron <br />John Duffy <br />Denise Bcigbeder <br />