Development

Comparable Gross Rent

Allendale

$857

Bel Park

$857

Bernard Mason

$818

Brentwood

$847

Carey House

$834

Chase House

$997

Ellerslie Apartments

$837

Govans Manor

$671

Hollins House

$845

J.Van Story Branch Sr. Apts.

$896

Lakeview Tower

$837

Laurens House

$926

McCulloh Homes

$935

Monument East Apartments

$800

Primose Place

$826

Rosemont Tower

$759

Wyman House

$810

Appendix C

Housing Authority of Baltimore City

Amount of Capital for Rehabilation Generated Through PETRA Program Under Various Financing Assumptions

Sample Mixed Population Project

FMR Level

Debt Coverage

4% Tax Credit

Amount of Rehab Per Unit

100%

1.2

Yes

$52,206

110%

1.2

Yes

$62,165

100%

1.1

Yes

$57,512

110%

1.1

Yes

$69,795

135%

1.1

Yes

$80,000

110%

1.1

No

$37,205

191%

1.1

No

$80,000

Note:

Fair market rent equals $887 for a studio and $1,002 for a one-bedroom apartment.