Baltimore Recapitalization Examples

Appendix B

 

 

Housing Authority of Baltimore City                          

 

  Market Comparable Gross Rent

  Samples of Mixed Population Developments

 

 

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

 

1 Bedroom FMR- $1,002


 

 

 

 

 

 

 

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.