PS 109 Harlem, NY
HDC CONSTRUCTION INTEREST
Bond Amount | % of bond | | |
| | Long Term Amount | | 3,255,000 | | 30.42% | | |
| | Short Term Amount | | 7,445,000 | | 69.58% | | |
| | Total Bond Amount | | 10,700,000 | | | | |
|
Term | Months | | Years | | |
| | Construction term | | 18 | | 1.50 | | |
| | Rent-up and Conversion term | | 3 | | .25 | | |
| | Total term | | 21 | | 1.75 | | |
|
Fixed Rates |
| | HDC Bond - Long Term | | 5.50% | | 1.67% 2 yr fixed rate |
| | HDC Bond - Short Term | | 3.95% | | 2.75% 2 yr fixed rate |
| | HDC 2nd Construction | | 1.25% | | (1% + .25% servicing fee) |
| | HDC MIRP Construction | | 1.25% | | (1% + .25% servicing fee) |
Interest Calculations
Fixed Rate | | Amount | | Outstanding | | Term (yrs) | | Interest Rate | | Interest | |
HDC 1st - Short Term | | 7,445,000 | | 50% | | 1.50 | | 3.95% | | 220,558.13 | |
| | 7,445,000 | | 100% | | 0.25 | | 3.95% | | 73,519.38 | |
HDC 1st - Long Term | | 3,255.000 | | 50% | | 1.50 | | 5.50% | | 134,258.75 | |
| | 3,255,000 | | 100% | | 0.25 | | 5.50% | | 44,756.25 | |
HDC 2nd | | 3,575,000 | | 100% | | 1.75 | | 1.25% | | 78,203.13 | |
MIRP | | 0 | | 100% | | 1.75 | | 1.25% | | 0.00 | |
Total Fixed Rate Construction Interest | | | | | | | | | | 551,305.63 | |
|
|
NEGATIVE ARBITRAGE (for fixed-rate deals only) |
|
Investment Rate: 3.50% |
|
| | Short Term | | Long Term |
Rate | | 3.95% | | 5.50% |
Short Term Amount | | 7,445,000 | | 7,445,000 |
Percent Outstanding | | 50% | | 50% |
Invstment Spread | | 0.45% | | 2.00% |
Construction Term (Years) | | 1.5 | | 1.5 |
Totals | | 25,126.88 | | 111,675.00 |
|
Negative Arbitrage | | 136,801.88 |
NYC HOUSING DEVELOPMENT CORPORATION 04/05/06
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