Question 6: GSB is still interested in financing the Bemore. Because the project will receive tax credits, GSB will look only at its minimum DCR to determine its loan amount. Assuming rents of $475 per month and the vacancy rates and operating expenses from Assignment One, how much will GSB loan for the project?

(Answers are rounded to the closest thousand dollars)

A.$567

B.$463

C.$423

D.$480

ASSIGNMENT TWO GNOSH decides to pursue competitive 9% Low-Income Housing Tax Credits (LIHTCs). The State Housing Finance Agency informs GNOSH that it will have to drop its rents to $475 per month in order to qualify for LIHTCs. DO NOT USE ANY CALCULATIONS FROM Assignment One, Questions 2-5 FROM THIS POINT FORWARD. USE THE PROJECT COST SUMMARY FORM TO CALCULATE THE TAX CREDIT BASIS FOR EACH CREDIT PROGRAM. QUESTION 6 GSB is still interested in financing the Bemore. Because the project will receive tax credits, GSB will look only at its minimum DCR to determine its loan amount. Assuming rents of $475 per month and the vacancy rates and operating expenses from Assignment One, how much will GSB loan for the project? (10 points) ASSIGNMENT TWO GNOSH decides to pursue competitive 9% Low-Income Housing Tax Credits (LIHTCs). The State Housing Finance Agency informs GNOSH that it will have to drop its rents to $475 per month in order to qualify for LIHTCs. DO NOT USE ANY CALCULATIONS FROM Assignment One, Questions 2-5 FROM THIS POINT FORWARD. USE THE PROJECT COST SUMMARY FORM TO CALCULATE THE TAX CREDIT BASIS FOR EACH CREDIT PROGRAM. QUESTION 6 GSB is still interested in financing the Bemore. Because the project will receive tax credits, GSB will look only at its minimum DCR to determine its loan amount. Assuming rents of $475 per month and the vacancy rates and operating expenses from Assignment One, how much will GSB loan for the project? (10 points)