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MXD Proposal, Scenario 2-A

Input array: ALTI

  AVI/MV Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Phase 6 Phase 7 Phase 8 Phase 9
AVI[ 3] Rent periods/year (1 or 365=commercial;12=resid.) 3 365 1 1 1 1 1 1 1 1
AVI[ 6] Units to develop 6 200 15000 165000 120000 225000 225000 822 878 1000
AVI[ 11] Field expense (commercial) dep.assets acq (res.) 11                 2385
AVI[ 12] Land development 12                 5173
AVI[ 13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 13 77.57 91.8 107.5212 72.17 88.42 88.42 28.14 7611.6819 551
AVI[ 14] Tenant improvements (comm) service structures (res.) 14       21.7917          
AVI[ 15] Architecture & engineering 15 7030 82.8667   4.7 4.8622 4.8622 783.455   608
AVI[ 17] Furniture & equipment 17 17205                
AVI[ 18] Misc. admin 18 11895 164.6667   9.1 10.0311 10.0311 1132.6034   527
AVI[ 20] Est.const.int,fin.fees,acctg.adj.(ProCash checks) 20 19870 234.0667   17.2583 16.2422 16.24217778 3199.5134   1490
AVI[ 21] Contingency, errors & ommissions 21 7845 91.4   6.65 6.1178 6.1178 1170.3163   537
AVI[ 27] Contruction interest to impose (or CSF[;12]) 27 17915 211.0667   15.5583 14.6444 14.6444 2884.4282   1343
AVI[ 28] Mos. after open to realize expected income 28 18 6 6     30      
AVI[ 29] Vacancy at opening as a decimal of total $ 29 0.45 0.75 0.75     0.55      
AVI[ 40] Minimum income/unit before vacancy(ex.AVI[7]units) 40 148.23 24.76 24.76 7.5 22 25 3000 3000 0.00001
AVI[ 41] Other income/unit (vacancy applies;ex.AVI[7]units) 41 25429                
AVI[ 44] Start-up operating losses (financed & expensed) 44 9334.432551 3.61267033 3.614983387     9.273323256      
AVI[ 45] Working capital (no interest is earned) 45 9900 72   8 2.8 2.8 875.9124    
AVI[ 53] Vacancy rate (in normal operating years) 53 0.28 0.05 0.05     0.05      
AVI[ 55] Operating expenses (fixed, per unit) 55   12.5 12.5 2 4.04 4.04 600 600  
AVI[ 56] Variable expenses (percent of income) 56 0.805                
AVI[ 87] Equity contribution ($ or % Costs Less Land&Fin.) 87 7,056,000 2,155,000 3,941,000 3,396,000 6,077,000 6,526,000 2,751,000 1,436,000  
AVI[101] Square feet/unit (affects AVI[13]) 101 1172.5 1 1 1 1 1 329.9 1 1
AVI[130] Points 1st Mtge at Perm. Mtge.Close AVI[23 26] 130 391000 345000   204000 359500 359500 259000   147000



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