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MXD Proposal, Scenario 2-A

Input array: AVI

AVI[3] Rent periods/year (1 or 365=commercial;12=resid.) 365
AVI[6] Units to develop 200
AVI[13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 77.57
AVI[15] Architecture & engineering 7030
AVI[17] Furniture & equipment 17205
AVI[18] Misc. admin 11895
AVI[20] Est.const.int,fin.fees,acctg.adj.(ProCash checks) 19870
AVI[21] Contingency, errors & ommissions 7845
AVI[27] Contruction interest to impose (or CSF[;12]) 17915
AVI[28] Mos. after open to realize expected income 18
AVI[29] Vacancy at opening as a decimal of total $ 0.45
AVI[40] Minimum income/unit before vacancy(ex.AVI[7]units) 148.23
AVI[41] Other income/unit (vacancy applies;ex.AVI[7]units) 25429
AVI[44] Start-up operating losses (financed & expensed) 9334.432551
AVI[45] Working capital (no interest is earned) 9900
AVI[48] Do not use cash flow for working cap or oper. res. 1
AVI[53] Vacancy rate (in normal operating years) 0.28
AVI[56] Variable expenses (percent of income) 0.805
AVI[59] Rounding factor for financing amounts (e.g.1000) 1000
AVI[61] 1st mortgage loan to value Ratio or $ Amount 0.75
AVI[62] 1st mortgage interest rate 0.1
AVI[63] 1st mortgage term in Years (0=interest only) 25
AVI[83] Developers share of ownership  
AVI[84] Lenders share of ownership 0.1
AVI[85] Investors share of ownership 0.9
AVI[87] Equity contribution ($ or % Costs Less Land&Fin.) 7,056,000
AVI[101] Square feet/unit (affects AVI[13]) 1172.5
AVI[112] Capitalization Rate for Mortgage 0.09403107113
AVI[113] Capitalization Rate for Ending Value(0=Orig.Cost) 0.1
AVI[130] Points 1st Mtge at Perm. Mtge.Close AVI[23 26] 391000
AVI[131] Annual Growth Rate for Gross Income MV[1] 0.04
AVI[132] Annual Growth Rate for Operating Expenses MV[2] 0.04
AVI[133] No. of Years to Hold Income Constant MV[3] 2
AVI[134] No. of Years to Hold Operating Expenses Constant MV[4] 2
AVI[135] Periods from Start of Analysis to Opening(MV[18]) MV[5] 0.5
AVI[141] Special Distibution of Cash Flow to Equity MV[12] 0.15
AVI[142] No.Periods to project (MV[19] period definition) MV[13] 9
AVI[152] Exclude operating losses AVI[44] from mortgage financing(0=inc.)MV[25]  
AVI[158] Starting Year (if MV[31]=0, then 1 2..) MV[31] 1991
AVI[164] Who Accepts Lender Role MV[37] 5
AVI[167] Who Accepts Public (IRS) Role MV[40] 2
AVI[171] Selling Comm. & Expense Rate at Ending Sale MV[47] 0.035
AVI[179] columns are (0)trials;(1)versions;(2)phases MV[56] 2
AVI[186] Base Data in MV[64] 1
AVI[187] Allow financing formula to calc. mtges > cost MV[65] 1



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