Resonant Proforma v2.5

1 site· 5 slots available

Construction Period

12 mo

start → 100% completion

Peak CL Balance

14,053,532

at month 11

Loan Conversion

m16

perm loan funds

Stabilization

m16

last major equity installment

Retention Held

916,369

released at occupancy

Peak Construction Loan Balance

14,053,532

Construction Loan Amount

14,100,000

46,468 unused

Total Construction Draws

8,247,323

Total Equity Funded

20,438,550

Total Construction Loan Interest

998,320

Construction Rate

Milestone Dates

Milestone	Date


	05/01/2028

Construction Draw / Payment Distribution (edit per-month %)Sum: 100.0%

M1May 2027%1.0%

M2Jun 2027%4.0%

M3Jul 2027%14.0%

M4Aug 2027%26.0%

M5Sep 2027%36.0%

M6Oct 2027%48.0%

M7Nov 2027%60.0%

M8Dec 2027%70.0%

M9Jan 2028%82.0%

M10Feb 2028%92.0%

M11Mar 2028%97.0%

M12Apr 2028%100.0%

months

Retention Holdback %

Withheld this build916,369

Released 05/01/2028916,369

Construction Completion Schedulemaster hard input · payments lag 1 mo at 90% · final 10% retention release

Month #	Date	Completion %	Cumulative
1	05/01/2027	2.50%	2.50%
2	06/01/2027	10.00%	12.50%
3	07/01/2027	12.50%	25.00%
4	08/01/2027	10.00%	35.00%
5	09/01/2027	12.50%	47.50%
6	10/01/2027	12.50%	60.00%
7	11/01/2027	10.00%	70.00%
8	12/01/2027	12.50%	82.50%
9	01/01/2028	10.00%	92.50%
10	02/01/2028	5.00%	97.50%
11	03/01/2028	2.50%	100.00%

Payment #	Date	Payment %	Cumulative
1	06/01/2027	2.25%	2.25%
2	07/01/2027	9.00%	11.25%
3	08/01/2027	11.25%	22.50%
4	09/01/2027	9.00%	31.50%
5	10/01/2027	11.25%	42.75%
6	11/01/2027	11.25%	54.00%
7	12/01/2027	9.00%	63.00%
8	01/01/2028	11.25%	74.25%
9	02/01/2028	9.00%	83.25%
10	03/01/2028	4.50%	87.75%
11	04/01/2028	2.25%	90.00%
12	05/01/2028	10.00%	100.00%

Federal Tax Credit Equity Installments

#	Milestone	Receipt	%	Amount	Cumulative
1		05/01/2027		3,149,600	3,149,600
	% Completion	—		—	3,149,600
	% Completion	—		—	3,149,600
	% Completion	—		—	3,149,600
2		05/01/2028		1,574,800	4,724,400
		—		—	4,724,400
3		09/01/2028		10,866,120	15,590,520
		—		—	15,590,520
4		05/01/2029		157,480	15,748,000
		—		—	15,748,000
			100.000%	15,748,000	OK

State Tax Credit Equity Installments

Mirror Federal ScheduleCertificated

#	Milestone	Receipt	%	Amount	Cumulative
1		05/01/2027		979,400	979,400
	% Completion	—		—	979,400
	% Completion	—		—	979,400
	% Completion	—		—	979,400
2		05/01/2028		489,700	1,469,100
		—		—	1,469,100
3		09/01/2028		3,378,930	4,848,030
		—		—	4,848,030
4		05/01/2029		48,970	4,897,000
		—		—	4,897,000
			100.000%	4,897,000	OK

Developer Fee Installments

#	Milestone	Receipt	%	Amount	Cumulative
		—		—	—
	% Completion	—		—	—
	% Completion	—		—	—
	% Completion	—		—	—
		—		—	—
		—		—	—
1		09/01/2028		589,102	589,102
		—		—	589,102
2		04/01/2029		1,444,389	2,033,491
		—		—	2,033,491
			100.000%	2,033,491	OK

Construction Loan Draw & Interest

Interest rate

7.000%

Accrual basis

actual / 360

Loan commitment

14,100,000

Peak balance

14,029,659

Unused commitment

70,341

Total drawn

14,029,659

Total interest

998,320

Interest in basis

498,423

Interest not in basis

499,897

Commitment covers draws

										Interest Computation · actual / 360, rounded up to the dollar
Month	Date	Beginning Balance	Drawn	% of Commitment	Interest Accrued	In Basis	Cumulative Interest	Ending Balance	Available	Accrual From	Accrual To	Days	Balance Accruing	Rate	Interest Computation
0	05/01/2027	0	4,366,873	30.97%	0	yes	0	4,366,873	9,733,127	—	—	—	—	—	—
1	06/01/2027	4,366,873	222,743	1.58%	26,323	yes	26,323	4,589,616	9,510,384	05/01/2027	05/31/2027	31	4,366,873	7.000%	4,366,873.23 × 7.000% ÷ 360 × 31 days = 26,322.54 → 26,323
2	07/01/2027	4,589,616	983,505	6.98%	26,773	yes	53,096	5,573,121	8,526,879	06/01/2027	06/30/2027	30	4,589,616	7.000%	4,589,615.91 × 7.000% ÷ 360 × 30 days = 26,772.76 → 26,773
3	08/01/2027	5,573,121	1,133,273	8.04%	33,594	yes	86,690	6,706,394	7,393,606	07/01/2027	07/31/2027	31	5,573,121	7.000%	5,573,121.19 × 7.000% ÷ 360 × 31 days = 33,593.54 → 33,594
4	09/01/2027	6,706,394	997,157	7.07%	40,425	yes	127,115	7,703,551	6,396,449	08/01/2027	08/31/2027	31	6,706,394	7.000%	6,706,393.93 × 7.000% ÷ 360 × 31 days = 40,424.65 → 40,425
5	10/01/2027	7,703,551	1,166,617	8.27%	44,938	yes	172,053	8,870,168	5,229,832	09/01/2027	09/30/2027	30	7,703,551	7.000%	7,703,551.21 × 7.000% ÷ 360 × 30 days = 44,937.38 → 44,938
6	11/01/2027	8,870,168	1,153,147	8.18%	53,468	yes	225,521	10,023,315	4,076,685	10/01/2027	10/31/2027	31	8,870,168	7.000%	8,870,167.94 × 7.000% ÷ 360 × 31 days = 53,467.40 → 53,468
7	12/01/2027	10,023,315	1,015,202	7.20%	58,470	yes	283,991	11,038,517	3,061,483	11/01/2027	11/30/2027	30	10,023,315	7.000%	10,023,314.68 × 7.000% ÷ 360 × 30 days = 58,469.34 → 58,470
8	01/01/2028	11,038,517	1,177,217	8.35%	66,538	yes	350,529	12,215,734	1,884,266	12/01/2027	12/31/2027	31	11,038,517	7.000%	11,038,516.96 × 7.000% ÷ 360 × 31 days = 66,537.73 → 66,538
9	02/01/2028	12,215,734	953,366	6.76%	73,634	yes	424,163	13,169,100	930,900	01/01/2028	01/31/2028	31	12,215,734	7.000%	12,215,733.70 × 7.000% ÷ 360 × 31 days = 73,633.73 → 73,634
10	03/01/2028	13,169,100	519,626	3.69%	74,260	yes	498,423	13,688,726	411,274	02/01/2028	02/29/2028	29	13,169,100	7.000%	13,169,099.98 × 7.000% ÷ 360 × 29 days = 74,259.09 → 74,260
11	04/01/2028	13,688,726	340,933	2.42%	82,513	no	580,936	14,029,659	70,341	03/01/2028	03/31/2028	31	13,688,726	7.000%	13,688,726.12 × 7.000% ÷ 360 × 31 days = 82,512.60 → 82,513
12	05/01/2028	14,029,659	0	—	81,840	no	662,776	14,029,659	70,341	04/01/2028	04/30/2028	30	14,029,659	7.000%	14,029,658.80 × 7.000% ÷ 360 × 30 days = 81,839.68 → 81,840
13	06/01/2028	14,029,659	0	—	84,568	no	747,344	14,029,659	70,341	05/01/2028	05/31/2028	31	14,029,659	7.000%	14,029,658.80 × 7.000% ÷ 360 × 31 days = 84,567.67 → 84,568
14	07/01/2028	14,029,659	0	—	81,840	no	829,184	14,029,659	70,341	06/01/2028	06/30/2028	30	14,029,659	7.000%	14,029,658.80 × 7.000% ÷ 360 × 30 days = 81,839.68 → 81,840
15	08/01/2028	14,029,659	0	—	84,568	no	913,752	14,029,659	70,341	07/01/2028	07/31/2028	31	14,029,659	7.000%	14,029,658.80 × 7.000% ÷ 360 × 31 days = 84,567.67 → 84,568
16	09/01/2028	14,029,659	0	—	84,568	no	998,320	14,029,659	70,341	08/01/2028	08/31/2028	31	14,029,659	7.000%	14,029,658.80 × 7.000% ÷ 360 × 31 days = 84,567.67 → 84,568
17	10/01/2028	14,029,659	0	—	0	no	998,320	0	14,100,000	09/01/2028	09/30/2028	30	0	7.000%	0.00 × 7.000% ÷ 360 × 30 days = 0.00 → 0
Total		—	14,029,659	—	998,320	498,423	998,320	—	—	—					Sum of the rows above = 998,320

Capital Events Timeline

⇄drag markers to shift · linked to equity installment table

Total CLI998,320

Category	05/27	09/27	12/27	02/28	05/28	09/28	04/29	05/29
Partnership	ADM					STB
Debt	CLOSE					CONV	8609
Construction	START	25%	50%	75%	100% RET
Federal Equity	#1				#2	#3		#4
State Equity	#1				#2	#3		#4
Developer Fee						#1	#2

Flow of Funds — Sources & Uses by Month

Line Item	Total	05/27	06/27	07/27	08/27	09/27	10/27	11/27	12/27	01/28	02/28	03/28	04/28	05/28	06/28	07/28	08/28	09/28	10/28	11/28	12/28	01/29	02/29	03/29	04/29	05/29	06/29

Sources of Funds
Construction Debt Financing	14,053,532	4,282,254	401,327	975,008	1,170,583	1,036,910	1,181,927	1,166,332	982,580	1,107,027	925,369	490,297	333,920	—	—	—	—	($14,053,532)	—	—	—	—	—	—	—	—	—
Permanent Debt Financing	11,050,000	11,050,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶Investor TC Equity — Federal	15,748,000	3,149,600	—	—	—	—	—	—	—	—	—	—	—	1,574,800	—	—	—	10,866,120	—	—	—	—	—	—	—	157,480	—
▶Investor TC Equity — State	4,897,000	979,400	—	—	—	—	—	—	—	—	—	—	—	489,700	—	—	—	3,378,930	—	—	—	—	—	—	—	48,970	—
▶Cash Flow From Operations	0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶Deferred Developer Fee	1,523,634	1,523,634	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶Subordinate / Soft Debt	150,000	150,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶GP Equity	100	100	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Sources	33,368,734	21,134,988	401,327	975,008	1,170,583	1,036,910	1,181,927	1,166,332	982,580	1,107,027	925,369	490,297	333,920	2,064,500	—	—	—	191,518	—	—	—	—	—	—	—	206,450	—

Uses of Funds
▶LAND COST/ACQUISITION	18,000,000	18,000,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶REHABILITATION	8,336,736	151,387	272,837	738,720	886,464	738,720	886,464	886,464	738,720	886,464	738,720	369,360	221,616	820,800	—	—	—	—	—	—	—	—	—	—	—	—	—
▶RELOCATION	965,000	24,125	72,375	120,625	144,750	168,875	144,750	120,625	96,500	48,250	24,125	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶NEW CONSTRUCTION	0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶ARCHITECTURAL FEES	150,000	120,900	2,645	2,645	2,645	2,645	2,645	2,645	2,645	2,645	2,645	2,645	2,645	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶SURVEY & ENGINEERING	60,000	60,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶CONSTRUCTION INTEREST & FEES	1,194,320	176,000	28,141	28,591	35,412	42,243	46,756	55,286	60,288	68,356	75,452	76,078	84,331	81,840	84,568	81,840	84,568	84,568	—	—	—	—	—	—	—	—	—
▶PERMANENT FINANCING	195,500	195,500	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶LEGAL FEES & THIRD-PARTY CONSULTING FEES	325,000	325,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶RESERVES	631,731	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	631,731	—	—	—	—	—	—	—	—	—
▶CONTINGENCY COSTS	926,956	8,443	25,328	84,426	101,311	84,426	101,311	101,311	84,426	101,311	84,426	42,213	25,328	82,696	—	—	—	—	—	—	—	—	—	—	—	—	—
▶OTHER PROJECT COSTS	550,000	550,000	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
▶DEVELOPER COSTS	2,033,491	1,523,634	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	147,706	—	—	—	—	—	—	362,151	—	—
▶CAPITAL COSTS	0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Uses	33,368,734	21,134,988	401,327	975,008	1,170,583	1,036,910	1,181,927	1,166,332	982,580	1,107,027	925,369	490,297	333,920	985,336	84,568	81,840	84,568	864,005	—	—	—	—	—	—	362,151	—	—

Balance (Cumulative)	OK	—	—	—	—	—	—	—	—	—	—	—	—	1,079,164	994,596	912,756	828,188	155,701	155,701	155,701	155,701	155,701	155,701	155,701	—	—	—

Construction Loan Balance and Completion Progress

Completion %
Loan Balance

The green line plots the master Construction Completion % schedule (read-only). The draw/payment distribution that funds the bridge is edited in the Construction Draw section above.