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    
 
TermMonths 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