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'' ~ ~ Marion Count <br />~ <br />OREGON <br />County Housing Authority <br /> MEMORANDUM <br />(503) 373-4448 <br />FAX 373-4439 <br />TDD 373-4459 <br /> DATE: 21-Jan-99 <br />HOUSING AUTHORITY <br />BOARD OF TO: MCHA Board <br />COMMISSIONERS <br />Randall Franke <br />Patti Milne FROM: Craig O. Luedeman, Executive Director <br />Mike Ryan <br />EXECUTIVE SUBJ: Court House Square - North Building Office <br />DIRECTOR <br />Craig O. Luedeman The following proforma illustrates the cost for MCHA to purchase their own <br />office space versus renting from Marion County. <br />PROFORMA <br />Bond Years 1999-2023 <br />~ Bond Outstanding $1,000,000 <br />Total Square footage 5,400 <br />Occupancy 100% <br />Operating Expense per square foot =. _.30 <br />Operating Expense per month = $1,620 <br />Parking Income per unit = $42.50 <br />Debt Coverage Ratio = 1.10 <br />Bond rate = 5.5% <br />Debt Service payable monthly = $5,677.97 : annually= $68,135.64 <br />Additional debt coverage mo. _ $638.76 : annually= $7,665.15 <br />Operating expenses = $1,620.00 : annually= $19,440.00 <br />Parking income = ($850.00) : annually= ($10,200.00) <br />Effective gross income = $7,086.73 : annually= $85,040.79 <br />Vacancy rate = 0: annually= 0 <br />Rent payment required = $7,086.73 : annually= $85,040.79 <br />Est. rent to MC at $1.30psf = $7,020.00 : annually= $84,240.00 <br />~ ~ <br /> ~ <br />EGIUAL HOUSING OPPORTUNRY `.I <br />3150 Q~B~~~ster Dr . NE, Suite D • Salem, Oregon 97305-1398 <br />