Board of Equalization 100 West Church, Room 200, 0zark, Mo. 65721 Board http:#ChristianCountyMO.iqm2.com . k} - Minutes - Kay Brown 417-582-4340 Thursday, July 23, 2015 1:00 PM The Christian County Courthouse 1. Call to Order U *ttarided.NaMe 13- r.r; -©-;- -; -- t- -Yritlet- - i.1--fit -5,1:-: -:.-'status "-4 '4-*Frivad Ray Weter Presiding Commissioner Present 1:00 PM Bill Barnett Western Commissioner Absent 1:00 PM Loyd Todd Surveyor Absent 1:00 PM Brenda Hobbs Board Member Present 1:00 PM Sue Ann Childers Commissioner - Eastern Present 1:00 PM Kyle Estes Board Member Present 1:00 PM Jason Massengale Board Member Present 1:00 PM Danny Gray Board Member Present 1:00 PM Mary Argiso Secretary to the Board Present 1:00 PM Julia Maples Administrative Assisstant Present 1:00 PM 2. Motion To: Motion to Convene COMMENTS - Current Meeting: Commissioner Weter entertained a motion to convene today's meeting. 1 RESULT: ADOPTED [UNANIMOUS] MOVER: Ray Weter, Presiding Commissioner SECONDER: Sue Ann Childers, Commissioner - Eastern AYES: Weter, Hobbs,.Childers, Estes, Massengale 4 -ABSENT: Bill Bafnett,·Loyd Todd 11. Public Portion 1. Un-Numbered Items (ID # 2391) Embassy Apartments, Ozark Meadows, Villas at Copper Leaf COMMENTS - Current Meeting: Attendees: Deputy Clerk Mary Argiso and Commission Secretary Julia Maples. The Property Tax Advisor Mr. Daniel Shepherd has sent a letter to the Assessor to appeal the below referenced properties. He has requested the Assessor call him prior to the hearing, and can either mail or e-mail any correspondence directly to him. Board of Equolization , Page 1 Printed 7/24/2015 Boara Minutes July 23, 2015 The Assessor presented the three parcels as listed below. He also mentioned that he spoke with Mr. Shepherd by phone regarding the appeals made on the parceIs listed. 1. Parcel # 11-0.2-03-000-000-002.018 - Embassy Apartments Address: 402 S. 11th Street, Ozark, MO 65721 New appraised value = $5,998,300.00 Previous appraised value = $7,649,500.00 New assessed value = $1,139,680.00 Previous assessed value = $1,231,900.00 The Assessor has re-evaluated the property for less. He discussed how he reached the calculations. The reappraised property value is at a lesser amount = $5,998,300.00. The Assessor has made a recommendation for the adjusted value to be approved. 2. Parcel # 10.01-12-002-010-001.023 - Villas at Copper Leaf Apts. Address: 305 Peachtree Drive, Nixa, MO. , The Assessor discussed the value discrepancy between Mr. Shepherd's calculation and his. The Assessor originally projection at $1,875,200.00. Ms. Hobbs asked what approach was used? The Assessor said the he used the cost approach. ThE Assessor recommends to go with his original figure @ $1,875,200.00. 3. Parcel # 11-0.8-27-001-002-009.00 - Ozark Meadows Address: 402 S. 11th Street, Ozark, MO 65721 New appraised value = $1,199,800.00 Previous appraised value = $1,231,900.00 New assessed value = $227,960.00 previous assessed value = $234,060.00 The Assessor noted the property is a subsidized housing. He also commented that Mr. Shepard is ok with the assessed values he just wanted to discuss how the values were calculated. The Assessor said that the current figure is actually less than last years and has recommended to keep the assessed value as is. ATTACHMENTS: 7-23-15 Board Mtg Parcels (PDF) 2. Motion To: Motion Re: Embassy Apts COMMENTS - Current Meeting: Parcel # 11-0.2-03-000-000-002.018 - Embassy Apartments Address: 5612 N. 17th St., Ozark, MO 65721 Board of Equalization Page 2 Printed 7/24/2015 745 Board Minutes July 23, 2015 New assessed value = $5,998,300.00 Commissioner Weter entertained a motion to accept the new assessed value at $5,998,300.00 RESULT: ADOPTED [UNANIMOUS] MOVER: Brenda Hobbs, Board Member f 1 6 SECONDER: Kyle Estes, Board Member r : U 1 1 -P' AYES: Weter, Hobbs, Childers, Estes, Massengale ABSENT: Bill Barfiett, Loyd Todd ift 3. Motion To: Motion Re: Villas at Copper Leaf Apts. COMMENTS - Current Meeting: Parcel # 10-0.1-12-002-010-001.023 - Villas at Copper Leaf Apts. Address: 305 Peachtree Drive, Nixa, MO Original assessed value = $1,875,200.00 Commissioner Weter entertained a motion that the current assessed value remain the same at $1,875,200.00. RESULT: ADOPTED [UNANIMOUS] » MOVER: ., Sue Ann Childers; Commissioner - Eastern SECONDER: a Kyle Estes, Board Member -i 4 f AYES: - Weter, Hobbs, Childers, Estes, Massengale ABSENT: Bill Barnett, Loyd Todd 4. Motion To: Motion Re: Ozark Meadows New Assessed Value. COMMENTS -Current Meeting: Parcel # 11-0.8-27-001-002-009.00 - Ozark Meadows Address: 402 S. 11th Street, Ozark, MO 65721 New assessed value = $1,199,800.00 Commissioner Weter entertained a motion to approve new assessed value at $1,199,800.00. RESULT: ADOPTED [UNANIMOUSI " MOVER: Blenda Hobbs, Board Member - SECONDER: Sue Ann Childers, Commissioner - Eastern AYES: Weter, Hobbs, Childers, Estes, Massengale ABSENT: r Bill Barnett, Loyd Todd -1 1 5. Motion To: Motion to Dismiss Board Members for the Year. COMMENTS- Current Meeting: Commissioner Weter entertained a motion to dismiss the Board of Equalization member hearings for the year 2015. Board of Equalization Page 3 Printed 7/24/2015 Boafd Minutes July 23, 2015 RESULT: : ADOPTED [UNANIMOUS] MOVER: Brenda H6bbs, Board Member SECONDER: 1 Sue Ann Childers, Commissioner - Eastern - AYES: i Weter, Hobbs, Childers, Estes, Massengale ABSENT: Bill Barnett, Lo¥d Todd Board of Equalization Page 4 Printed 7/24/2015 Property Tax Services, Inc 7/8/2015 Certified Mall or FedEx # 7·G+R-@46+0808•800467el Christian County Clerk 100 W Church St #104 7990 094( 2·93,) Ozark, Missouri 65721-6901 RE: Request for a Board of Equalization Hearing Parcel - Property 11-0.2·03-000-000·002.018 - Embassy Apartments 11-0.8-27-001-002-009.000 - Ozark Meadows 10-0.1-12-002-010-001.023 - Villas at Copper Leaf Apts. To Whom It May Concern: 1 wish to formally appeal the above referenced properties for 2015. Please call me prior to scheduling a hearing to avoid any potential schedullng conflicts. You can mall any correspondence to me at 1183 Joyce B/vd., Suite 2, Fayettev#le, AR 72703, or email me at daniel@plax.biz. Thank you for your time and considerations. if you need any further Information, please send me an email or call me at (479) 527-8815. Respectfully, Properly Tax Services, Inc 0-1# Daniel Shepherd encl. cc: assessor 1183 Joyce Blvd., Suite 2 - Fayetteville, AR 72703 (479) 527-8815 - fax (479) 527-8813 A , -1 ·Embassy Apartments Chrisuan County Parcelis): 11-0.2-03-000-000-002.018 Occupancy: Apartments Class Quality: D Average Address: 6612 N. 17th Street Year Built: 2008 City, State: Ozark, Missouri GSA: 0 NLA: 126,000 Acres: 8.90 Units: 120 Incomei As Stabilized / 6 Actuals Potential Gross income: % *Unlt f 2014/ % 2013 % 2012 % $984,600 $ 8,205 L$984;600 $984,600 Loas to LeaConcesslong: $112.760 $90,671 $134,850 Adjusted Rental Income: $871,840 $ 7,265 $893,929 $849,760 Credit Loss: 48,718 1% $6,000 1% $11,768 1% Vacancy: $43,592 5% $41,630 5% 7% $56,326 Net Renlal Income: $819.530 $ 6,829 $846,299 $781,657 Otherlncomet $60,835 $65,635 Effective Gross Income: $880,365 $ 7,336 $56,036 $911,9349/1,¥71 $837.693 Expenses: Admtn & General: $49,300 6.60% $ 411 $49,328 $34,442 Paymt $124,015 14.09% $ 1,033 $121,428 $126,597 Management Fee: $36,000 4.09% $300 $38,180 $34;087 Advertising: $4,000 0.45% $ 33 $3,751 $6,849 Repairs: $80,000 9.09% $ 667 381,307 $51,524 Ut!11Ues: $80.010 9,09% $ 667 $80,152 $79.868 Insurance: $54.100 6.15% $ 451 $54,102 $33,340 Othec $0 0.00% $ 0 $0 $0 Real Estate,Taxes: $84,32 9.68% $ 703 (EFE> $80,695 Reserves: $24,000 2.73% $ 200 $24,000 $24,000 Operating Expenaes: $535,797 61% $ 4,465 $534,620 59% $471,302 56% AST 4* Et• Not©purailnotncome: $344,88 «ANS 4?37 $377,314 ' $365,391 Overal Rate: 8.50% 6 . Less Buspersprope,v: · $O Income Approach Value: 24,053,736 333,781 Taxpayer's Requested Value Current Year Assessor Value Indicated Value: $4,053,700 Assessor Value: $7,659,200 $ per SF: $33,781 $ per SR $63,827 Assessor Cap: 4.50% hoP 46 1 *44 < 2.9-89 j .. 6,1 le,38£>I "4900...F/9.ir,ff,2 . ¥l= 6 , A 9%_t222,-- ·-&4. . / j Property Tax Services, Inc 4.1 8/10/2015 M - B - -00000 0 0001 ·# 411·11 - 0 .O 0, 71 7, m m tit . . 4% M * 4 12 gl m 0 1 2 -,10 EN 'G ° 6% er; 01131 41 1 1 111 1 1 4 1 10 3. 13 C D :t· -0 -U 31 30 33 '0 -4 -e TYPE LOC OF 1 0 0 00 EIXTY-F1 0 1.1 • 0 1 ..11 lili .11 .1 1 I 10 r W / 21 -1 -1 M 13 01 - -1 -1 SFF mq Eli , A 1 1 r MS ¢·.i N M i·,1 ,·1 9 r,i r·, r,• r.i ., r.i •.• 0 47 0 5 0000000000'0·JO 1- H F y B - - O 0 CO,0,01 0 0 C 0 0 0 0 0 3 0, 0- 4 0· 0.1 r,1 -- o v i N C, Z 0 0000. 01 000000000,·2000/E c m ou m z 02 0 61 0 4* c' 9 43 '.U O Cl ') Cl •.I, 03 % (1 1 - 2 05 6 1, S » $ m g: ,-i El a 01 ., · m - 0: m 00 0 FFACRES 0 000000000000001 0 8 5 1 m O 0 0 0 - z r ·• ur r g .ACE 1,1 U, i T D U ·> 1 ·14 -n• ¤ t=1 c:1 221 .3 C; 1:j el il m 99·£ TOFEKA C.IXA 1 u U LA a. 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Christian County Parce!(s): 10-0.142-002-010-001.023 Occupanoy: Apartments Class Quality: D Average Address: 305 Peachtree Drive Year Built City, State: Nixa, Missouri GBA: 54,564 NLA: 54,564 - Acres: 3,07 Units: 64 4 As Stabilized Actuals Income: 96 $/Unit 2014 % 2013 % 2012 % Polenttal Gross Income: $395,000 $ 6,172 $398,620 $392,520 Loss to Lease/Concesslons: $4,504 $385,200 4,608 $3,620 52 Adjusted Rental Income: $390,500 $ 6,1022 091512 $388,900 $386,198 Credit Loss: $4905 1% '3341 $0 0% $1,361 0% 4,264.00 1% .Vacancy: $11,715 3% 1,33,4 $4,676 1% · $11,474 3% $10,522 3% Net Rentak Income: $374,880 $ 5858 $389,436 $376,065 Other tncome: $4,000 S#6 $370,412 $3,212 $5,509 $8,883 Effective Gross Income: $378,880 $ 5,920 $392,6485 7/,9, 1 $381,574 $379,295 Expenses: 461% Admin & General: 400 $40,750 10.76% $ 637 $40,668 $39,203 $4'1,716 Payroll: 7/+14 $70,000 18.48% $ 1,094 $69,734 $74,360 $70,237 Management Feet 1919> $19,000 5.01% $ 297 $19,887 $18,857 ' $19,085 Advertising: -$4,300 1.13% $ 67 $4,248 $4,641 35,713 . Repalmi $34,840 9,20% $ 644 $34,075 $28,383 $35,220 UUQ!!es: $28,000 7.39% $ 438 $28,367 $24,382 ·- $24,040 Insurance: . 13,500 3.66% .$ 211 $13,639 $11,988 $10,137 Other: $0 0.00% $ 0 $0 $0 $0 Real Estate Taxes: $21,235 5,60% $ 332 $21,236 .- $21,266 $21,443 Rescrves: $19,200 5,07% $ 300 $19,200 go' $19,200 $19,200 Operattng Expenses: $250,825 66% 64 $ 3,919 $250,944 $242,280 63% $246,771 65% Not Operating income: .-· $1285055 2 5 141 $141,704 10; $139,294 $132,524 Overall Rale: -- 8.60% /6>94·4> Less BusPersProperly: $0 E'll 2 j>3675 Income Approach Value: $1,506:629 $ 23,540 g.p,2 4741,675 Taxpayers Requested Value Current Year Assessor Value tndlcaled Value: $1,506,525 ABsessorValue: $1,875,200 $ per SF: $23,539 $ per SF: $29,300 Assessor Cap: 6.83% : 465/%90 1 . I 022 . , ·91»947324' .. .. OEM 9 0 Ln 9002 idV MI m 5@br Eli m10-0.1-12-002-010-001.023 VILLAS Q COPPER LEAF LP 4 -O E, 0 m LEGAL. DESCRIPTION 03NI SAOaN¥1130SIM GN¥ SEUON 31 am 0000 APPRAIS 242 COPPER LEAF TWN 27 RNG 22 0.0 £ 0 01·ill lou 61 B 0 8 5% C1 00 00 0 Cl I is Z Cl 91 0 d WE N 0 m 3737 DEI 02 8- 0000 r. 1 W 94'LT OSI m 0 0 r, Z MO* 65808-0000 m 0000 4 0 m 0 m ° R m 0 0. P m . ro 31 0% m 0 § W m O % -IV - ri ro rN O0 30000.00 VALUATION o 0 352 0 0 o b Z m 6£ LS££9 0 00- · LOT SIZE m 00 m 06/2005 ACQUIRED SALES DATA 00- 00 W ru O,001 ACREAGE DEEDED ACRI10-0.1-12-002-010-001.023 Z CO tZ Gl m om T55 00EI9f Z MISCELLA 0 039 Z !2*686:9:019 Otr I 8, 26! Id PAGE 5% SlonliSIO Sni]EN '4-003055 Id EAGE CALC. DATE PRINTED 10029*ET C TAX YEAR I 3.07 04/29/15 - === 4 Danny Gray Christian County Assessor 100 West Church Rm # 301 Ozark MO 65721 Ph (417) 582-4320 Fax (417) 581-3029 Ozark Meadows 11-0.8-27-001-002-009.00 EGI 199,967 Expense 55% -109,981 NOI 89,985 Cap Rate.:00251& Alue: 993809 1 ' ·-'0 ·47 k "dAM - UNA :rs'·"·B. 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TH N PROPERTY ADDRESS: 402 5 11 TH ST 00.04.3,0.0-0.0.3,0. m' 0! .0 O n. M 1-0OC-INIEAD') 44[0=E@=.to,CrOCON=•08 0 R W A V 4 410, 4 U V ) m B m w r, 0 0500•000(n]000000,0. 6§ 0M ............. 0 m 03 1·0 " 1 1- 02 N CO 1- 01 9 •4 u O ,». » V61616]U-OGIN•--»03 2 . 06 m CO 14-1 33 = A W W W W [4 61 61 61 61 U £4 0 m 1NCON n, m ni re ru n, tu n: n, re n, re & 109€r 00. 1VA i T 0.0000000000041# :*E 9 0 00!- turent,unuten),UN,Or,N< 0-- *• 61 01 6161WGIUW 01 [4 01 -m vauv ·r 12/200 ACQUIRED -O - O 0 - 0 -b * 4, 4 -4, 4 4 4 44 4 B 00- 00000000000•0 31 sm A - www -1-4 wn, al n, .0 I -6 0 0 0 WA#**1119™-boloturn,8 0 i 0 m « 0 e.n]-6.-0.lue·-0.0.0-··021 60 1 9. OR i t.,WLIWWW (AWL, W€.1 4, Al E 7 I r? ru ru re N N ru th} w no no 01 h 2 FErMIN m 05 -4 9 V V 4 •4 9 -4 4 N ··102 0 OLLVISGIS 0 .1 00 >> 03 *10• 0, 1- - 9 - 17·- 1-4 - W Z 0 m :13 th O 01 01 01 01 01 C.,1 cq ot Ul 01 01 -2, 23 m 0 0 AJE A ha·O·0 -P• 00•01,11&9 Gly R GONM - 2 '41 9 N q Q ·1 N 01 N .4 4.1 q Eli Bb -1-Oem . 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U} 8 0 0 0 0 6 a EL< 23 2% N 8 3 M # 8% & 3 0. m h o Ul 211'zoN m *22 R : 3 23 2 > 16 --- 05 1- 3 M 7 U 64,4&4 r 03/02/15 · ··- - ·:· Ozark Meadows,· LP+ ·- · ·" · ··Page·1 012 · 04:18PM Income Statement Current Year - Standard January 01, 2014 - December 31, 2014 -----Current Period- -Year To Date- Amount % - Sales Amount % - Sales Revenues Rent $ 8,188.00 43.0 $ 99,062.00 48.9 Rental Assistance $ 8,025.00 42.1 $ 98,708.00 48.7 Forfeited Deposits $ 1,273.00 6.7 $ 1,363.00 .7 Late Charges $ .00 ·0 $ 67.00 .0 Overage $ .00 .0 $ 117.00- .1- Laundfy $ 88.36 .5 $ 861.70 .4 Interest 5 709.31 3.7 $ ' dEE> .7 Miscallareous $ ·00 .0 $ 23.00 .0 Interest-Reserve Account $ m.19 4.1 $ CZER> .7 Total Revenues $ 19,060.86 100.0 $ 202,781.68 100.0 Total Sales $ 19,060.86 100.0 $ 202,781.68 100.0 Gross Profit · $ 19,050.86 100.0- S 202,781.68 100.0- Maintenance Expenses Maintenance & Repair Supply $ 144.95 .8 $ 4,609.70 2.3 Maintenance-Repair Contract $ 452.50 2.4 $ 8,632.95 4.3 Painting and Decorating S .00 .0 S 549.86 .3 Snow Removal · $ 220.00 1.2$ 3,063.23 1.5 Grounds Maintenance $ 950.00 5.0 $ 15,307.50 7.5 Vacant Unit Prep $ .00 -0 $ 918.00 .5 Furniture Replacement $ .00 .0 S (1533> .1 Cleaning Supplies $ 43.18- .2- $ .00 .0 Exterminattng Expense $ 58.10 .3 $ 693.00 .3 Maint Janttoral/ Cleaning S .00 .0 $ 680.00 . .3 HVAC $ .00 .0 S 1,129.55 .6 Total Maintenance Expenses $ 1,782.37 BA $ 35,764,40 17.6 Sub-total Maint & Operating Eledricity $ 1,115.63 5.9 $ 11.637.34 5.7 Water . , $ 596.20 3.1 $ 6,808.50 3.4 Sewer $ 446.89 2.3 $ 4,747.08 2.3 Cable $ 1,596.43 8.4$ 18,425.17 9.1 Garbage & Trash Removal $ 459.03 2.4 $ 5,429.40 2.7 Internet $ 74.95 .4 $ 674.55 .3 Total Sub-total Maint & Operating. 0 $ 4,289.13 22.5 $ 47,722,04 23.5 Administrative Expenses , Site Management Payroll ,.. $ 1,496.00 7.8 $ 18,352.40 9.1 Managment Fee .. ;t .1.800.00 · .· 9.4 G 23,535.00 . 11.6 Project Auditing Expense - $ .00 · I .0 $· 3,525.00 1.7 Advertising S .00 0 .0 $ 250.00 ' .1 Tetephone ..S 74.13 .4 S 900.05 .4 . $ 12024 665.39 · .3. Office Supplies 0 . ..8 S Postage ·$ 103.29 1 .5 $ 298.92 '.1 Training/Seminars . ' ..S .00 .0 $ 256.36 ..1 Payroll Taxes - $ 152.59 .8 $ 1,831.08 .g , · Workman's Compensation 1 4 ..S · 37.58 · ·· ,2 $ . 41,172.04. .6. Other Administative Expense $ 22.86 .1 $ 1,333.73 .7 . Credit Checks .. . $ .00 .0 + $ 254.00 . ..1 Asset Management Fee-MHDC I . I $ .00 .0 · $ 3,000.00 . 1.5 f• 03/02/15· Ozark+Meadows, LP - - . Page .2 of 2.... 04:18PM Income Statement Current Year - Standard January 01, 2014 - December 31, 2014 -Current Period -Year To Date- Amount % - Amount %- Sales Sales Total Administrative Expenses $ 3,806.69 20.0 S 65,373.97 27.3 Taxes & Insurance Real Estate Taxes $ 1,134.59 6.0 $ CliEED 6.7 Other Taxes, Fees. & Permits $ .00 •0 $ 343.00 .2 Property Insurance $ .1,218.42 6.4 $ 13,950.97 6.9 Total Taxes & Insurance $ 2.353.01 12.3 $ 27.870.11 13.7 Other Expenses Interest Expense-USDA S 7,113.43 37.3 $ 11,731.16 5.8 Interest Subsidy-USDA $ 6,696.84- 35.1- $ 6,696.84- 3.3- Depreciation $ 8,613.49 45.2 $ 89,242.61 44.0 Amortization $ 1,946.67 10.2 $ 1,946.67 1.0 Asset Management Fee 5 15,500.00 81.3 $ 15,500.00 7.6 Total Other Expenses $ 26,476.75 138.9 $ <111,723.6© 55.1 Total Expenses $ 38,707.95 203.1 $ 278,454.12 137.3 Operating Profit $ 19,647.09- 103.1- 5 75:672.44 37.3- Net Profit $ 19,647.09- 103.1- $ 75,672.44- 37.3- - 41¢S 1944 Part ff - OZARK MEADOWS - For 0-11802015 - Printled at 03-02-2015 16:36 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Apt Type Number Initial Expires Leased To Basic Note HUD %(3TC Util NTC Due RA Ovrg < el A/1 2 05-01-10 04-30-15 GIVENS, POLLY 405 418 BWELIWW WWW W 405 418 0 30.0 84 122 0 283 < 82 A/1 1 05-01-le 84-30-15 WOOTAN, HILDA 405 418 8 30,0 84 207 8 198 < 03 A/1 112-01-1111-30-15 LONG, LUELLA 405 418 0 30,0 84 142 0 263 < 04 A/1 102-01-1109-30-15 LEWIS, CHRISTOPHER 405 418 0 30,8 84 338 0 67 < 05 A/1 1 05-01-10 04-30-15 COLLIER, LAVERNE 405 418 0 30.0 84 192 0 213 < 06 A/1 1 03-01-1102-28-15 CRUME, JAMES 405 418 0 30.8 84 288 0 197 < 07 A/1 1 05-01-10 04-30-15 LOVEUND, JIMMIE 405 418 8 30.0 84 161 8 244 < 08 A/1 1 05-01-10 04-30-15 TURBYEVILLE, KIMBERLY 405 418 0 30.0 84 132 0 273 < 09 A/1 1 12-14-1111-38-15 ELLEDGE, CYNTHIA 0 30.0 84 167 0 238 10 A/1 0 10-31-14 11-30-19 VACANT 405 418 Vacant Unit < 11 A/1 105-01-10 04-30-15 EDWARDS, RONALD 405 418 Vacant Unit 000®®00oe®000®0000cuc000(=. 405 418 0 30.0 84 122 8 283 < 12 A/1 2 05-01-10 04-30-15 HARRINGTON, PETE 405 418 8 30.0 84 115 0 290 < 13 A/1 102-22-12 01-31-15 EUBANKS, MARY 405 418 8 39.0 84 278 0 127 < 14 Ml 108-01-10 07-31-15 STEWART, ORCHID 405 418 0 30.0 84 177 0 228 < 15 A/1 1 04-11-12 03-31-15 RYAN, CONNIE 405 418 0 30.0 84 143 8 262 < 16 A/1 1 03-24-14 02-28-15 HOFFMAN, PATRICIA 465 418 0 30.0 84 120 0 285 < 17 Ml 1 08-01-10 07-31·15 WARREN, MARTHA 405 418 0 30.0 84 251 0 154 < 18 A/1 1 09-01-13 08-31-15 WILSON, FAYE 405 418 0 30.0 84 173 0 232 < 19 A/1 1 10-89-14 09-30-15 CRAGHEAD, SARAH 405 418 0 30.0 84 284 0 121 < 20 A/1 111-05-14 10-31-15 GUILL, CURTIS 405 418 0 30.0 84 337 0 68 < 21 A/1 1 09-01-10 08-31-15 COLLARD, LORETTA 405 418 0 30.0 84 152 0 253 < 22 A/1 108-01-10 07-31-15 JACKSON, ROBERT 405 418 0 30.0 84 127 0 278 < 23 A/1 108-el-le 07-31-15 KING, JOHN 405 418 0 30.0 84 223 0 182 < 24 A/1 108-11-10 07-31-15 BILYEU, BONNIE 405 418 0 30.0 84 159 0 246 < 25 HN/1 1 03-el-11 02-28·15 SHANNON, SHARON 405 418 0 30.0 84 143 0 262 < 26 5/1 1 le-el-14 09-30-15 SNYDER, DEBORA 405 418 8 30.0 84 134 0 271 < 27 5/1 1 05-16-12 04-30-15 HANEBRINK, LUCILLE 405 418 0 30.0 84 170 0 235 < 28 S/1 1 11-08-12 10-31-15 SHIPMAN, ROSEZELL 405 418 0 30.0 84 128 0 217 < 29 N/1 1 11-01-10 le-31-15 MURRAY, KATHRYN 405 418 0 30.0 84 101 0 304 < 38 N/1 1 12-01"12 11·30-15 HALL, CHERIE 405 418 0 30.0 84 120 0 285 < 31 N/1 1 12-08-10 11-30-15 KIRBY, WILLIAM 405 418 0 30.0 84 126 0 279 < 32 N/1 1 07-06-1106-30-15 BURNS, DONNA 405 418 0 30.0 84 128 0 277 < 33 N/1 108-07-13 07-31-15 WATTS, 5HIRLEY 405 418 0 30.0 84 247 0 158 < 34 N/1 1 11-01-10 10-31-15 DAVIS, LILA 405 418 0 30.0 84 159 0 246 35 N/1 010-23-14 11-30-19 VACANT 1 09-16-14 08-31-15 MCCORD, JACQUELYNN 485 418 8 30,0 84 152 0 253 0000®0000 < 36 N/1 1 11-01-le 10-31·15 CRAWFORD, RICHARD < 37 N/1 1 08-20-14 07-31-15 FROST, ESTHYR 405 418 0 30.0 84 324 0 81 < 38 N/1 1 11-01-10 10-31-15 SHULER, EDITH 405 418 0 30.0 84 212 0 193 < 39 N/1 1 04-16-14 03-31-15 MARKUS, MICHAEL. 405 418 8 30,0 84 245 0 160 < 40 N/1 1 05-01-11 04·30-15 FLETCHER, AUDRY 485 418 0 30.0 84 137 0 268 < 41 A/1 1 03-01-13 02-28-15 STEWART, MAXINE 405 418 0 30.0 84 230 0 175 < 42 A/1 1 08·01-10 07-31-15 TWIBELL, VIOLA . 405 418 0 30.0 84 227 0 178 < 43 A/1 112-01-11 11-30-15 MANTOOTH, BERTHA 485 418 0 30.0 84 123 0 282 < 44 Ml. 405 418 . 0 30.0 84 79 0 326 TOTALS > 17820 0 7515 0 9495 CP 16. 17. 18; .. 1 06/11/14 Ozark Meadows, LP Page 1 of 2 02:29PM Income Statement Current Year - Standard January 01, 2013 - December 31, 2013 --Current Period- -Year To Date- Amount % - Sales Amount % - Sales Revenues Rent $ 8,590.00 47.2 $ 96,559.42 47.7 Rental Assistance $ 8,249.00 ' 45.4 $ 102,766.00 50.7 Forfeited Deposits S 365.00 2.0 S 437.00 .2 Late Charges $ ·00 .0 $ 20.00 .0 Overage $ 13.00- .1- $ 195.00- .1- Laundly $ 84.97 .5 $ 747.49 .4 Interest $ 910.24 5.0 $ 1,84220 .9 Miscellaneous $ ·00 .0 $ 454.50 .2 Total Revenues · $ 18,186.21 100.0 $ 202,631.61 100.0 Total Sales $ 18,186.21 100.0 $ 202,631.61 100.0 Gross Proflt $ 18,186.21 100.0- S 202,631.61 100.0 Maintenance Expenses Maintenance & Repair Supply $ 93.96 .5 $ 3,373.13 1.7 Maintenance-Repair Contract $ 633.78 3.5 S 7,952.78 3.9 Painting and Decoratlng S ·00 .0 $ .00 .0 Snow Removal $ 2,622.50 14.4 $ 4,182.50 2.1 Grounds Maintenance $ · 535.00 2.9 S 13,645.00 6.7 Vacant Unit Prep $ 56.00 .3 S 1,166.00 6 Furniture Replacement $ .00 .0 S 394.13 .2 Total Maintenance Expenses $ 3.941.24 21.7 $ 30,713.54 15.2 Sub-total Maint & Operating Electricity $ 1.128.30 6.2 $ 11,631.05 5.7 Water $ 755.20 4.2 $ 6,898.77 3.4 Sewer . $ 737.86 · 4.1 $ 4,603.44 2.3 Cable $ 1,442.59 7.9 $ 17,144.77 8.5 Garbage & Trash Removal $ 447.52 2.5 $ 4,003.03 2.0 Internet $ 74.95 AS 734.50 .4 Total Sub-total Maint. & Operating $ 4,584.42 25.2 $ 45,015.56 222 Administrative Expenses , Site Management Payroll , · $ 1 ,452.00 - 8.0 3 17,799.16 8.8 Managment Fee $ 1,980.00 - ''. - 10.9 $ · 23,670,00 11.7 ProjectAuditing Expense · $ .00- - .0 $. 2,925.00 1.4 Advertising . s ,00 -4 .0 $ 315.00 .2 1. --Telephone - · $ 74.97 -' -7 I .4 $ 901.46 .4 * omca supplies S 1181.96 - .7 $ 1,556.70 .8 Training/Seminars - - -- S ·00 --- .0 $. 460.49 .2 PayroU Taxes - . $ 155.65 · .9 $ 1,867.80 .. .9 Womman's Compensation '' ..$ 29.46 .2 $ 1,099.04 + 05 Other AdmInistallve Expense. · $ 55.95 .3 $ 1,225.80 .6 Asset Management Fee-MHDC $ .00 .0 S·' 3,000.00 1.5 Total Administrative Expenses $ 3,866.99 21.3 $ · 54,820.45 27.1 · Taxes & Insur'ance Real Estate Taxes $ 1,685.03* . - 9.3 $ · 13,57262 . 6.7 Other Taxes, Fees, & Permits .f. . $ .00 ..0 $ 150.00 .1 Property Insurance $ 2,030.92 11.2 S 14,960.90 7.4 Total Taxes & Insurance $ 3,715.95 . 20.4 $ 28,683.52 14.2 1 9 06/11/14 Ozark Meadows, LP Page 2 of 2 02:29PM Income Statement Current Year- Standard January 01, 2013 - December 31, 2013 -----Current Period- -Year To Date- Amount % -Sales Amount %-Sales Other Expenses Interest Expense-USDA $ 7,041.79 38.-. $ 11,727.89 5.8 Interest Subsidy-USDA $ 8,618.84- 36.+ $ 6,618.84- 3.3- Depredation $ 9,700.51 53.3 $ 87,878.39 43.4 Amortization $ 1,946.67 10.7 $ 1,946.67 1.0 Asset Management Fee $ 15,500.00 85.2 $ 15,500.00 7.6 Total Other Expenses $ 27,570.13 151.6 S 110,434.11 54.5 Total Expenses $ 43,678.73 240.2 $ 269,667.18 133.1 Operating Profit $ 25,492.52- - 140.2- S 67,035.57- 33.1- Net Profit $ 25,492.52- 140.2- $ 67,035.57- 33.1- I . .. k.. ... ... .. .. .. .. 1944 Part II OZARK MEADOWS For 01/01/2014 Printed at 06-11-2014 14:33 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Apt Type Number Initial Expires Leased To Basic Note HUD %GTC Util NTC Due RA Ovrg < 01 A/1 2 05-01-10 04-30-14 GIVENS, POLLY 380 393 0 30.0 74 129 0 251 < 02 A/1 1 05-01-10 04-30-14 WOOTAN, HILDA 380 393 0 30.0 74 211 0 169 < 03 A/1 1 12-01-1111-30-14 LONG, LUELLA 380 393 0 30.0 74 149 0 231 < 04 A/1 1 02-01-11 09-30-14 LEWIS, CHRISTOPHER 380 393 0 30.0 74 349 0 31 < 05 A/1 1 05-01-10 04-30-14 COLLIER, LAVERNE 380 393 0 30.0 74 198 0 182 < 06 A/1 1 03-01-11 02-28-14 CRUME, JAMES 380 393 0 30.0 74 210 0 170 < 07 A/1 105-01-10 04-30-14 INELAND, JIMMIE 380 393 0 30.0 74 165 0 215 < 08 A/1 2 05-01-10 04-30-14 TURBYEVILLE, KIMBERLY 380 393 0 19.9 74 393 0 0 < 09 A/1 1 12-14-11 11-30-14 ELLEDGE, CYNTHIA 380 393 0 30.0 74 168 0 212 < 10 A/1 1 05-01-10 04-30-14 JOHNSON, JUDITH 380 393 0 72.8 74 128 0 0 252 H < 11 A/1 1 05-01-10 04-30-14 EDWARDS, RONALD 380 393 0 30.0 74 129 0 251 < 12 A/1 2 05-01-10 04-30-14 HARRINGTON, PETE 380 393 0 30.0 74 83 0 297 < 13 A/1 1 02-22-12 01-31-14 EUBANKS, MARY 380 393 0 30.0 74 291 0 89 < 14 A/1 108-01-10 07-31-14 STEWART, ORCHID 380 393 0 30.0 74 181 0 199 < 15 A/1 104-11-12 03-31-14 RYAN, CONNIE 380 393 0 30.0 74 150 0 230 < 16 A/1 1 11-07-11 10-31-14 LAWRENCE, FRONA 380 393 0 30.0 74 129 0 251 < 17 A/1 1 01-01-10 07-31-14 WARREN, MARTHA 380 393 0 30.0 74 262 0 118 < 18 A/1 1 09-01-13 08-31-14 WILSON, FAYE 380 393 0 30.0 74 293 0 87 < 19 A/1 1 02-04-11 01-31-14 SNYDER, DEBORA 380 393 0 30.0 74 139 0 241 < 20 A/1 1 08-01-10 07-31-14 SALZMAN, HELENi 380 393 0 30.0 74 203 0 177 < 21 A/1 1 09-01-10 08-31-14 COLLARD, LORETTA 380 393 0 30.0 74 162 0 218 < 22 A/1 · 1 08-01-10 07-31-14 JACKSON, ROBERT 380 393 0 30.0 74 129 0 251 < 23 A/1 1 08-01-10 07-31-14 KING, JOHN 380 393 0 30.0 74 228 0 152 < 24 8/1 1 08-11-10 07-31-14 BILYEU, BONNIE 380 393 0 30.0 74 162 0 218 < 25 HN/1 103-01-1102-28-14 SHANNON, SHARON 380 393 0 30.0 74 150 0 230 < 26 S/1 1 11-01-10 10-31-14 BEST, VICKI 380 393 0 30.0 74 44 0 336 < 27 S/1 .105-16-12 04-30-14 HANEBRINK, LUCILLE 380 393 0 30.0 74 225 0 155 < 28 S/1 1 11-08-12 10-31-14 SHIPMAN, ROSEZELL 380 393 0 30.0 74 135 0 245 < 29 1/1 1 11-01-10 10-31-14 MURRAY, KATHRYN 380 393 0 30.0 74 109 om < 30 N/1 . 1 12-01-12 11-30-14 HALL, CHERIE 380 393 0 30.0 74 119 0 261 < 31 N/1 112-08-10 11-30-14 KIRBY, WILLIAM 380 393 0 30.0 74 132 0 248 < 32 N/1 107-06-1106-30-14 BUBNS, DONNA 380 393 0 30.0 74 135 0 245 < 33 N/1 1 08-07-13 07-31-14 WATTS, SHIRLEY 380 393 0 30.0 74 25B 0 122 < 34 N/1 111-01-10 10-31-14 DAVIS, LILA 380 393 0 30.0 74 173 0 207 < 35 N/1 1 04-01-13 03-31-14 BROOKS, RENEE 380 393 0 30.0 74 146 0 234 < 36 N/1 1 11-01-10 10-31-14 CRAWFORD, RICHARD 380 393 0 30.0 74 168 0 212 < 37 N/1 · 1 02-01-12 01-31-14 ATCHISON, CELIA . . 380 393 0 30.0 74 275 0 105 < 38 1/1 1 11-01-10 10-31-14 SHULER, EDITH 380 393 0 30.0 74 218 0 162 < 39 N/1 112-01-1211-30-14 PISCITELLI, MARY 380 393 0 30.0 74 274 0. 106 < 40 N/1 · 1 05-01-11 04-30-14 FLETCHER, AUDRY 380 393 0 30.0 74 199 0 181 <.41 A/1 1 03-01-13 02-28-14 STEWART, MAXINE - * 380. 393 0 30.0 74 243 0 137 < 42 A/1 1 08-01-10 07-31-14 TWIBELL, VIOLA - 380 393 0 30.0 74 215 0 165 ,. <43 8/1 ' 1 12-01-11 11-30-14 MANTOOTH, BERTHA 380 393 .0 30.0 74 123 0 257 < 44. A/1. '1 08-01-10 07-31-14 BARCLIFL, MARY . 380 393 0 30.0 74 166 . 0 214· · 252 H TOTALS >· 16720 8148 0 8333 * 16. 17. 18. 1 06/24/13 Ozark Meadows, LP Page 1 of2 02:09PM Income Statement Current Year - Standard January 01, 2012 - December 31, 2012 ---Current Period- -Year To Date- Amount % - Sales Amount % - Sales Revenues · Rent S 7,190.00 42.4 $ 86,752.00 43.6 Rental Assistance 5 8,905.00 52.6 S 106,589.00 53.6 Forfeited Deposits $ 310.00- 1.8- $ 487.00 .2 Late Charges $ 10.00 .1 S 185.00 .1 Overage $ 4.00- .0 $ 57.00- .0 Laundry $ 222.00 1,3 $ 3,241.75 1.6 Interest $ 932.58 5.5 $ 1,737.02 .9 Miscellaneous $ .00 .0 $ 25.00 .0 Total Revenues $ 16,945.58 100.0 $ 198,959.77 100.0 Total Sales $ 16,945.58 100.0 $ 198,959.77 100.0 Gross Profit $ 16,945.58 100.0- $ 198,959.77 100.0- Maintenance Expenses Maintenance & Repair Supply $ 442.48 2.6 $ 4,414.93 2.2 ' Maintenance-Repair Contract $ 620.00 3.7 $ 7,320.00 3.7 Snow Removal $ .00 .0 $ 705.00 .4 Grounds Maintenance $ 1,025.00 6.0 $ 22,670.00 11.4 Services $ .00 .0 $ 1.100.00 .6 Furniture Replacement $ .00 .0 $ 675.87 .3 Total Maintenance Expenses $ 2,087.48 12.3 $ 36,885.80 18.5 Sub-total Maint. & Operating Electridty $ 926.12 5.5 $ 10,66222 5.4 Water $ 645.66 3,8$ 8,309.96 4.2 Sewer $ 545.36 32 $ 5,177.01 2.6 Cable $ 1,330.37 7.9 $ 15,500.68 7.8 Garbage & Trash Removal $ 319.33 1.9$ 3,551.66 1.8 Intemet $ 69.95 AS 923.52 .5 Total Sub-total Maint & Operating $ 3,836.79 22.6 $ 44,125.05 22.2 Administrative Expenses Site Management Payroll $ 1,408.00 8.3 $ 17,246.20 8.7 Managment Fee $ 1,980.00 11.7 $ 23,760.00 11.9 ProjectAuditing Expense $ .00 .0 $ 2,925.00 1.5 Advertising $ .00 .0 $ 290.50 .1 Telephone $ 74.75 .4 $ 890,51 .4 Office Supplies $ 79.25 .5 $ 1,243.29 .6 Training/Seminars · $ .00 .0 $ 166.90 .1 - PayroU Taxas . . $ 119.12 -.7 $ 1,435.21 .7 Workman's Compensation $ 27.48 .2 $ 1,057.99 .5 OtherAdministative Expense $ .00 .0 $ 1,326.56 .7 Asset Management Fee $ 3,000.00- 17.7- $ .00 .0 Total Administrative Expenses $ 688.60 4.1 $ 50,342.16 25.3 Taxes & Insurance Real Estate Taxes $ 1,109.26 6.5 $ 12,968.25 6.5 Other Taxes, Fees, & Permits $ .00 .0 $ 150.00 .1 Property Insurance · S 1,009.75 6.0 $ 13,600.98 6.8 Total Taxes & Insurance $ 2,119.01 12.5 $ 26,719.23 13.4 Other Expenses L t 06/24/13 Ozark Meadows, LP Page 2 of 2 02:09PM Income Statement Current Year - Standard January 01, 2012 - December 31, 2012 -Current Period- -Year To Date- Amount %-Sales Amount % - Sates Interest Expense-USDA $ 7,185.86 42.4 S 11,937.25 6.0 Interest Subsidy-USDA $ 6.756.84- 39.9- $ 6,756.84- 3.+ Depreciation $ 7,743.10 45.7 $ 85,816.37 43.1 Amortlzatlon $ 1,946.67 11.5 $ 1,946.67 1.0 Asset Management Fee $ 5.500.00 32.5 $ 5,500.00 2,8 Total Other Expenses $ 15,618.79 92.2 $ 98,443.45 49.5 Total Expenses $ 24,350.67 143.7 S 256,515.69 128.9 Operating Pront $ 7.405.09- 43.7- $ 57,555.92- 28.9- Net Profit $ 7,405.09- 43.7- S 57,555.92- 28.9- If 1 4 1944 Part II OZARK MEADOWS For 01/01/2013 Printed at 06-24-2013 15:46 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Apt Type Number Initial Expires Leased To Basic Note HU) fGTC Util NTC Due RA Ovrg < 01 A/1 2 05-01-10 04-30-13 GIVENS, POLLY 380 393 0 30.0 72 120 0 252 0 < 02 A/1 1 05-01-10 04-30-13 WOOTAN, HILDA 380 393 0 30.0 72 222 0 158 0 < 03 A/1 1 12-01-11 11-30-13 LONG. LUELLA 390 393 0 30.0 72 146 0 234 0 < 04 A/1 1 02-01-11 01-31-13 LEWIS, CHRISTOPHER 380 393 0 30.0 72 380 0 0 0 < 05 A/1 1 05-01-10 04-30-13 COLLIER, I.AVERNE 380 393 0 30.0 72 195 0 105 0 < 06 A/1 103-01-11 02-28-13 CRUME,JAMES 380 393 0 30.0 72 171 0 209 0 < 07 A/1 105-01-10 04"30-13 LOVELAND, JIMMIE 380 393 0 30.0 72 161 0 219 0 < 08 A/1 1 05-01-10 04-30-13 TURBYEVILLE, KIMBERLY 380 393 0 30.0 72 126 0 252 0 < 09 A/1 112-14-1111-30-13 ELLEDGE, CYNTHIA 380 393 0 30.0 72 162 0 218 0 '<10 A/1 1 05-01-10 04-30-13 JOHNSON, JUDITH 380 393 0 73.7 72 118 0 0 232 H 0 < 11 A/1 1 05-01-10 04-30-13 EDWARDS, RONALD 380 393 0 30.0 72 123 0 257 0 4 12 A/1 2 05-01-10 04-30-13 HARRINGTON. PETE 380 393 0 30.0 72 112 0 268 0 < 13 A/1 102-22-12 01-31-13 EUBANKS, MARY 360 393 0 30.0 72 258 0 122 0 < 14 A/1 1 08-01-10 07-31-13 STEWART, ORCHID 380 393 0 30.0 72 211 0 169 0 < 15 A/1 1 04-11-12 03-31-13 RYAN, CONNIE 380 393 0 30.0 72 148 0 232 0 < 16 A/1 1 11-07-11 10-31-13 LAWRENCE, PRONA 380 393 0 30.0 72 128 0 252 0 < 17 A/1 1 08- 01-10 07-31-13 WARREN, MARTHA 380 393 0 30.0 72 265 0 115 0 18 A/1 0 12-31-12 11-30-19 VACANT 380 393 Vacant Unit < 19 A/1 102-04-11 01-31-13 SNYDER, DEBORA 380 393 0 30.0 72 160 0 220 0 < 20 A/1 1 08-01-10 07-31-13 SALZMAN, HELEN 300 393 0 30.0 72 166 0 214 0 < 21 A/1 1 09-01-10 08-31-13 COLLARD, LORETTA 380 393 0 30.0 72 144 0 236 0 < 22 A/1 1 08-01-10 07-31-13 JACKSON, ROBERT 380 393 0 30.0 72 113 0 267 0 < 23 A/1 1 08-01-10 07-31-13 KING, Going 380 393 0 30.0 72 224 0 156 0 < 24 A/1 1 08-11-10 07-31-13 BILY=U, DONNIE 380 393 0 30.0 72 128 0 252 0 < 25 HN/1 1 03-01-11 02-29-13 SHANNON, SHARON 38C 393 0 30.0 72 148 0 232 0 2 26 S/l 1 11-01-10 10-31-13 BEST, VICKI 380 393 0 30.0 72 47 0 333 0 4 27 S/1 1 05-16-12 04-30-13 HANEBRINK, LUCILLE 380 393 0 30.0 72 219 0 161 0 < 28 S/1 1 11-08-12 10-31-13 SHIPMAN, ROSEZELL 380 393 0 30.0 72 137 0 243 0 < 29 N/1 1 11-01-10 la-31- 13 MURRAY. KATHRYN 380 393 0 30.0 72 56 0 324 0 < 30 N/1 1 12-01-12 11-30-13 HALL, CHERIE 380 393 0 30.0 72 201 0 179 0 < 31 N/1 1 12-08-1011-30-13 KIRBY. WILLIAM 380 393 0 30.0 72 131 0 249 0 < 32 N/1 1 07-06-11 06-30-13 BURNS, DONNA 380 393 0 30.0 72 134 0 246 0 4 33 1/1 1 11-03-10 10-31-13 WHITE. JUANITA 380 393 0 30.0 72 134 0 246 0 4 34 N/1 1 11-01-10 10-31-13 DAVIS, LILA 380 393 0 30.0 72 192 0 188 0 < 35 N/1 112-01-12 11-30-13 STEWART, MAXINE 380 393 0 30.0 72 131 0 249 0 < 36 N/1 111-01-10 10-31-13 CRAWFORD. RICHARD 380 393 0 30.0 72 170 0 210 0 < 37 N/1 1 02-01-12 01-31-13 ATCHISON, CELIA 380 353 0 30.0 72 268 0 112 0 < 38 N/1 1 11-01-10 10-31-13 SHULER, EDITH 380 193 0 30.0 72 261 0 119 0 I 39 N/1 1 12-01-12 11-30-13 PISCITELLI, MARY 380 393 0 30.0 72 271 0 109 0 < 40 N/1 1 05-01-11 04-30-13 FLETCHER, AUDRY . 380 393 0 30.0 72 159 0 221 0 < 41 A/1 1 08-01-10 07-31-13 HAWKINS, TRELLIS 380 393 0 30.0 72 123 0 257 0 < 42 A/1 1 08-01-10 07-31-13 TWIBELL. VIOLA 380 ' 393 0 30.0 72 189 0 191 0 < 43 A/1 1 12-01-11 11-30-13 MANTOOTH, BERTHA • 380 393 0 30.0 72 126 0 254 0 < 44 A/1 1 08-01-10 07-31-13 BARCLIFL, MARY 380 393 0 30.0 72 163 0 217 0 232 H TOTALS > 16720 0 72S1 0 8827 0 16. 17. 18. .. 06118/12 Clinton Apartments, L.P. Page 1 of 2 09:31AM Income Statement Current Year - Quarterly October 31,2011 - December 31, 2011 ---Current Quarter- --Year To Date- Amount %-Sales Amount % - Sales Revenues Rent 27,182.00 92.1 111,838.58 95.6 Forfeited Deposits 2,157.00 7.3 4,744.00 4.1 Late Charges .00 .0 34.00 .0 .00 .0 105.37 .1 Laundly 53.67 .2 86.93 .1 Interest Interest-MHDC / Reserve 109.00 .4 230.10 .2 Total Revenues 29.501.67 100.0 117,038.98 100.0 Total Sales 29,501.67 100.0 117,038.98 100.0 Gross Profit 29,501.67 100.0- 11L038.98 100.0- Maintenance Expenses Maintenance & Repairs Suppty 1,816.20 5.2 8,124.94 6.9 Main Repal#Decorating Labor 2,922.00 g.9 13,748.04 11.7 Painling and Decorating 644.11 2.2 2,935.20 2.5 .00 .0 1,863.85 1.6 Snow Removal Grounds Contract Labor .00 .0 3,118.00 27 7¤51 An 97 1 R08.00 1.5 Vacant Unit Prep 306.91 1.0 ED 1.7 Furniture Replacement 116.17 .4 59.27 .6 Cleaning Supplies Expense .00 .0 1 79.85 .2 Landscaping Supplies 225.00 .8 00.00 .8 Exterminating Contract Labor 9 224.76 .8 3,678.65 3.1 HVAC Total Maintenance Expenses 7,048.15 23.9 39,026.55 33.3 Utilities Electricity 611.89 2.1 2,878.71 2.5 1,734.36 5.9 6,004.01 5.1 Water Sewer 706.82 2.4 2,141.59 1.8 Garbage & Trash Removal , 550.50 1.9 2,237.00 1.9 3,603.57 12.2 13,261.31 11.3 Total Utilities Administrative Expenses 247.38 .8 463.38 .4 Site Management Payroll Management Fee 3,041.66 10.3 11,681.66 10.0 ProlectAuditing Expense .00 .0 2,925.00 2.5 Advertising . 163.20 .6 972.02 , .8 187.55 .6 695.41 .6 Telephone .3 omce Supplies =-. 39.20 .1 356.31 Postage Expense · 40.34 .1 144.48 .1 Tralning/Seminara - .00 .0 722.08 6 6.39 .0 25.91 .0 Payroll Taxes - 1.32 .0 755.31 -6 Workman's Compensation - 45.00 .2 351.00 .3 Credit Check Expense Total Administrative Expenses 3,772.04 12.8 19,092.56 16.3 Taxes & Insurance . Real Estate Taxes 2,303.10 7.8 9,517.14 8.1 Other Taxes, Fees & Permits .00 .0 100.00 .1 Property Insurance 1,131.47 3.8 4,953.20 4.2 Total Taxes & Insurance · 3,434.57 11.6 14,570.34 12.4 06/18/12 Clinton Apartments, L.P. PPage 2 of 2 09:31AM Income Statement Current Year - Quarterly October 31, 2011 - December 31, 2011 ---·-CUTTent Quarter- -YearTo Date- Amount % - Sales Amount %-Sales Other Expenses Interest Expense-MHDC 1,154.28 3.9 4,716.20 4.0 Depreclation 17,033,20 577 58,043.23 49.6 Total Other Expenses , 18,187.48 61.6 62,759.43 53.6 Total Expenses 36,045.81 122.2 148,710.19 127.1 Operating Profit 6,544.14- 22.2- 31,671.21- 27.1- Net Profit 6,544.14- 22.2- 31,67121- 2L1- 4 194* Part It GZARK MEADOWS For 01/01/2012 Printed at 01-13-2012 15118 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Ape Type Number Initial Expires Leased Ta Basic Note HUD *GIC Util NTC Duo RA Ovrg 4 01 A/1 2 05-01-10 04-30-12 GIVENS, POLLY 370 303 0 30.0 78 114 0 256 0 I 02 A/1 1 05-01-10 04-30-12 WOOTAN, HILDA 370 33 C 30.0 78 210 0 160 0 , 03 A/1 1 22-01-11 12.31-12 LONG, LUELIA 370 383 0 30.0 78 131 0 239 0 < 04 A/1 1 02-01-11 01-31-12 LENTS, CHRISTOPHER 370 3B3 0 30.9 78 370 0 0 0 los AA 1 05-01-10 04-30-12 COLLIER, LAVERNE 370 303 0 30.0 78 180 0 130 0 < 06 All 1 03-01-11 02-29-12 CRUME, JAMES 370 381 0 30.0 78 161 0 209 0 < 07 A,/1 1 05-01-10 04-30-12 IDVELAND, JIDSCES 370 383 0 30.0 78 143 0 227 0 < 08 A/1 1 05-01-10 04-30-12 TURBYEVILL,8, IUMBERLY 370 383 0 30.0 78 114 0 256 0 > 09 A/1 1 12 -14 -11 11-30-12 ELLEDS, CYNTHIA 370 383 0 30.0 78 156 0 214 0 .<10 A/1 1 05 -01- 10 04-30-12 JORNSON, JUDITH 370 381 0 79.9 78 110 0 0 232 H 0 < 11 A/1 1 05-01-10 04-30-12 EDWARDS, RONALD 370 383 0 30.0 78 95 0 274 0 € 12 A/1 2 05-01-10 04-30-12 HARRINGTON. PETE 370 303 0 30.0 78 100 0 270 0 • 13 A/1 1 00-01-10 07-31-12 KnTHERIM. BEULAH 370 383 0 30.0 70 176 0 194 0 < 14 A/1 1 08-01-10 07-31-12 STEWART, ORCHID 370 383 0 30.0 78 171 0 199 0 I 15 A/1 1 11-01-11 10-31-12 DAVIDSON, NANCY 370 383 0 30.0 70 121 0 249 0 4 16 A/1 1 11-07-11 10-31-12 LAWRENCE. FRONA 370 383 0 30.0 70 127 0 243 0 < 17 741 1 00-01-10 07-31.12 WARREN, MARTHA 370 393 0 30.0 78 239 0 131 0 I 10 All 1 07-06-11 06-30-12 MARTIN. ARTIE 370 103 0 30.0 78 120 0 250 0 < 19 A/1 1 02-04-11 01-31-12 SNYDER, DEBONA 370 383 0 30.0 70 146 0 224 0 < 20 A/1 1 08-01-10 07-31-12 GALZ,aN, HELEN 370 383 0 30.0 78 154 0 215 0 < 21 A/1 1 05-01-10 on-31-12 COMARD, LOUSTZA 370 383 0 30.0 78 130 0 232 0 < 22 A/l 1 08-01410 07-31-12 JACKSON, ROBERT 370 383 0 30.0 79 100 0 270 0 € 23 A/i 1 08-01-10 07-31-12 KING, JOHN · 370 383 0 30.0 78 203 0 162 0 < 24 A/1 1 (8-11-10 07-31-12 BILY=O, BONNIE 370 383 0 30.0 78 138 0 212 0 < 25 101/1 1 03-01-11 02-29-12 SHANNON,· SHARON 370 383 0 30.0 78 134 0 536 0 < 26 S/1 1 11-01-10 10-31-12 REST. VICKI 370 383 0 30.0 78 44 · 0 326 0 < 27 S/1 1 12-01-11 11-30-12 JORNSON. LUCAS 370 383 0 30.0 78 264 0 loG 0 < 28 S/1 1 11-01-10 10-31-12 CHANDLER, CARL 370 323 0 30.0 78 157 0 203 0 < 29 N/1 1 11-01-10 10-31-12 MURRAY, KATHRIN 370 383 0 30.0 78 70 0 300 C 4 30 1/1 1 11-01-1.0 03-31-12 BIECKF, KATIE 370 383 0 30.0 78 75 0 29S 0 /31 N/1 1 12-08-10 11-10-12 KIRBY. Wnr=AN 370 383 0 30.C 78 121 0 19 0 < 32 :1/1 1 07-06-11 06-30-12 nomNS. DaNNA 370 383 0 30.0 7/ 121 0 249 0 < 33 NA 1 1103-10 10-31-12 WHITE, JUANIn 370 383 0 30.0 78 120 0 250 C 4 34 1 11-01-10 10-31-12 DAVIS. LUA 370 383 0 30.0 78 159 0 215 ' 0 < 35 N/1 1 11-24-10 11-30-12 ATCHINON, CHZ,IA 370 383 0 30.0 78 261 0 109 0 / 36 N/1 1 11-01-10 10-31-12 CRAWFORD, nIctiAAD 370 383 0 30.0 78 161 0 209 0 c 37 U/1 1 11-01-10 10-31-12 JOI{NSON, EVA 370 393 0 30.0 70 120 O* 850 0 2 38 9/1 1 11-01-10 10-31-12 SHOLER, EDITH 370 383 0 30.0 78 230 0 132 0 < 39 N/1 1 11-01-10 10-31-12 TOCK, ARTHUR 370 3 G3 0 30.0 78 342 0 28 0 < 40 N/1 1 05-01-11 04-30-12 FLETCHER. AUDRY 370 383 0 30.0 78 130 0 232 0 < 41 A/1 103-01-10 07-31-12 HAWKINS, TRELLIS 370 383 0 30.0 78 100 0 270 0 < 42 A/1 1 08-01-10 07-31-12 TWIBILL, VICIa 370 3a3 0 30.0 78 2U 0 159 0 I 43 A/1 1 12-01-11 11 - 30-12 MANTOCTH, BERTfUL 370 383 0 30.0 78 119 0 251 0 4 44 A/1 . 1 00-01-10 07-31-12 BAnd=FL, MARY 370 383 0 30.0 78 1•2 0 228 0 232 H TOZ;ILS . 16280 0 6834 0 9194 ' C 15. 17. 18. WRI'll'Intrt '1-iIIr I, Z 33 -1. m CLASS TYPE PROPERTY gr 0 IMPROVEMENTS 8 LOT 242 COPPER LEAF LEGAL DESCRIPTIONSEC 12 TWN 27 RNG 22 R =f 0 3> r- [n FFACRES m 4, 00 APPRAISED LAND PO BOX10-0.1-12-002-OIO-001.023 VILLAS m Z ru 2 2% 0 mmt! 0000 Il!/77"WIF: 0:INI SnOEIN 0/0 £00 0 SSV-10 01-Ill 8013 3.07 >N 30,000 30,000 1.875,20 TOTAL -00 H +0 0 ..wooOO SPRINGFIELD o mod m 00 0I 02 £ W C Cd ASSESSED COPPER LEAF LP O Z tl O q C, 0. MO' 85808-0000 'IV101 0 2 Ey £'LT OSI m 0 m 0000 P 0 m fo > T2 U » 0 . ro ZI m 1. m 0 0 O 0 m a 31 WC INE!#X Npr ul O C in m ri ni r Ez 003 ... % 01 0 g m 0 § O 0 Oor 0 00 C O r Z 0% 01 » 0 0 Ul m 0 Z 00- LOT SIZE 0 0/ %0. 84*MNIUM#l:Wily:1:{44#1 0 m Ul m [Il 04 0 £££,£9 380.IMild XY AMB NONE 8 0=Om ACREAGE DEEDE 10-0.1- 1 ,=50 m mmU) d3" Z 1 30 SIW nON BOOK ... :D ACREAGE CALC. DAm PRINTED, -------: Al:14'1115 1 86 3] Z 0 0394-003055 PAGE 11{SU lUU-W:W-OWW-Gi· m 0 -TIC 3.07 04/29/15, re 2015 2 an,VA03SIVHdd¥ m Villa- at Copper Leaf Apts. Christian County Parcel(s): 10-0.1-12-002-010-001.023 Occupancy: Apartments Class Quality: D Average Address: 305 Peachtree Drive Year Built: City, State: Nixa, Missouri GBA: 54,564 NLA: 54,564 - Acres: 3.07 Units: 64 As Stabilized Actuals Income: % $/Unit 2014 % 2013 % 2012 % Potential Gross Income: $395,000 $ 6,172 $398,620 $392,520 $385,200 9 *2908 Loss to Lease/Concessions: $4,501 . / $3,620 $2 Adjusted Rental Income: $390,500 $ 6,102 $494,112 $388,900 $385,198 Credit Loss: $3,905 1% .33% $0 0% $1,361 0% 4,264.00 1% Vacancy: $11,715 3% 1,3304 $4,676 1% - $11,474 3% $10,522 3% Net Rental Income: $374,880 $ 5,858 $389,436 $376,065 $370,412 Other Income: $4,000 67,6 $3,212 $5,509 $8,883 Effective Gross Income: $378,880 $ 5,920 $392,6483-79,I $381,574 $379,295 Expenses: If M}% Admin & General: 405Zl $40,750 10.76% $ 637 $40,668 $39,203 $41,716 Payrol: 7/444 $70,000 18.48% $ 1,094 $69,734 $74,360 $70,237 Management Fee: l92'/D $19,000 5.01% $ 297 $19,887 $18,857 $19,065 Adverusing: $4,300 1.13% $ 67 $4,248 $4,641 $5,713 Repairsf $34,840 9.20% $ 544 $34,075 $28,383 $35,220 Utilities: $28,000 7.39% $ 438 $28,357 $24,382 $24,040 Insurance: . ?13.500 3.56% . $ 211 $13,539 $11,988 $10,137 Other: $0 0.00% $ 0 $0 $0 $0 Real Estate Taxes: $21,235 5.60% $ 332 $21,238 1- $21,266 $21,443 Reserves: $19,2[JO 5.07% $ 300 $19,200 *06 $19,200 $19,200 OperaUng Expenses: $250,825 66% 64 $ 3,919 $250,944 $242,280 63% $246,771 65% Not Operating Income: ..-· $128;055 l 37 241 $141,704 $139,294 $132,524 8.50% /.6: 91-9 Overall Rate: -- Less Buspersproperly: $0 EL# 2,036-75 Income Approach Value: $1,506,529 $ 23,640 /Ap 4741 1.75 Taxpayers Requested Value Current Year AssessorValue Indicated Value: $1,506,525 Assessor Value: $1,875,200 $ per SF: $23,539 $ per SF: $29,300 Assessor Cap: 6.83% # D 1.0- iti, +D t , 4 g ls- Boo . 1 1 i 1 00000000000000 ec S M n n D· - 14· IN h K h N W] ta R 0 Ul D B DJ el 03 ir r) 19 43 41 - - ·O 1,7 B O 0 C tr; 1.5-i)!443*'02#FI'll':1 I: 4.- * + ;·3 -8 113 n D m s] 9- pl co W 0 E -- ri .4 W. v. 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W+ODORAO=AROAM Ill lo C - 1 Za. 50 J 10 O 2% 0, to 0 bi U 00000 0 111 2 43 - < 0.1 50000000000000 0 0 Z bl 0 h I - Z Ul * 0% 8 Annononnn,·,nor, NOTES AND MISCE LANEOUS NFO 11- 1- r, 10 0 E--- .1- ... P. .i. ... . ... -I -I Ir 1= a O *fal·044)4).0.04440·740 U] 19 to 12- to if] 40 000000000000 r--1--r-1,-4,-4--Ir-4 If] - 00000 U. 4 00000000 89, 9 12 ut 00 0 1 M 01 0 i n i n $ 0 i r; i 2. - 550 0 0 0 h •t· •t * 1 4- cr k O N 00 00 0@ - r. .4 - 1 N N h h h h h - 0- I. O DOO 0- th Ch 0-3 8-0-0-0 11-0.8-27 0 =00 a Z D = 21 0 Ill §5 - al !9 4· D 43 h 03 0% O - Al M iD m I. 0.0 00000000 - 1-4-- .. €4 he 8 R/Bil iE S g M ee- to E ¥26 i il 5,2 1 2*%8 1 6,} CD / Fl,231,0UU $27,998 5.95% 2 Z 44 14# 2 \P r.k 42 te™ egy 61 173 8 22 2 0. $ per Unit: 0 /1 -1 9- ti .- Real Property Dj. 2 St m Assessor Cap: $910,000 $20,682 U· 2 2 -t N U. U 10¥Z 1 E i i 3 1 6 4 02=] Me£ a > 2 - 11 ·250*f & :32 8 9 92822 2% 1-00 . 9 9 " O 00. CO C. 0 OPOO 09 0 04202 0 C 2 0- < e Co 0, 9, 0 f 32 9 5 2 - $80,595 Reserves: $24,000 2.73% $ 200 $24,000 $24,000 Operattng Expenses: $535,797 61% $ 4,465 $534,620 59% $471,302 56% 451,42.F 6"" 40'4743 4937 Net Operating Income: $344,568 $377,314 $366,391 Overall Rate: 8.50% Less BusPersProperty: · $O Income Approach Valrie: $4,053,736 $ 33,781 4 - Taxpayets Requested Value CurrentYoarAssessor Valuo Indicated Value: $4,053,700 AssessorValue: $7,659,200 $ per SF: $33,781 $ per SR $63,827 Assessor Cap: 4.50% *·54 /AoI qui I. - / . U-Mo-L / \ 6I(10,3DP "vf¤£*0 er.?Dtof·; PI W % 1 69% 000 Properly Tax Services, Inc // 6/10/2015