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MXD Proposal, Scenario 2-A:Phase 1: Hotel

Schedule A: Project Cash Flow

Annual

  Total 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000
DEVELOPMENT/CAPITAL ACCTS                      
Field Expense                      
Land Development                      
Building Cost -18190165 -18190165                  
Tenant Improvements                      
Architecture & Engineering -1406000 -1406000                  
Elevator/Escalator                      
Furniture & Equipment -3441000 -3441000                  
Misc. Administration -2379000 -2379000                  
Dev. Costs Expensed                      
Grants & Reimbursements                      
Contingency -1569000 -1569000                  
Land                      
Financing Fees -391000 -391000                  
Construction Interest -3583000 -3583000                  
Internal Interest                      
Accounting Transfers                      
Capitalized Cost -30959165 -30959165                  
Capital Replacement                      
Ending Value . 29,494,309                   29,494,309
Capital Before Fin -1464856 -30959165                 29,494,309
Principal Flows . 9,594,108 24,868,000                 -15273892
Developers Capital 8,129,251 -6091165                 14,220,416
                       
OPERATIONS                      
Income 124,900,336 4,599,656 10,551,371 11,910,855 12,387,289 12,882,780 13,398,092 13,934,015 14,491,376 15,071,031 15,673,872
Expenses . -102337443 -5495395 -8493854 -9588238 -9971767 -10370638 -10785464 -11216882 -11665558 -12132180 -12617467
Net Avail. for D.S. 22,562,893 -895740 2,057,517 2,322,617 2,415,521 2,512,142 2,612,628 2,717,133 2,825,818 2,938,851 3,056,405
Debt Service -18451787 -971147 -1942293 -1942293 -1942293 -1942293 -1942293 -1942293 -1942293 -1942293 -1942293
Ground Rent                      
Participation .                      
Cash Flow 4,111,106 -1866887 115224 380323 473228 569849 670335 774840 883525 996558 1,114,112
Amortization . 2,538,108 82243 177298 195863 216373 239030 264059 291710 322255 356000 393277
Earnings B.N.C.C. 6,649,214 -1784643 292522 576186 689601 808878 934394 1,066,549 1,205,780 1,352,557 1,507,389
Non-Cash Charges . -13432312 -1130119 -2119790 -1879020 -1707042 -1584200 -1346300 -1108400 -954848 -801296 -801296
Taxable Income -6783098 -2914762 -1827268 -1302834 -1017441 -775322 -411907 -41851 250932 551261 706093
                       
FINANCING SUMMARY                      
Project Cash Flow. 25,072,037 -27880905 2,057,517 2,322,617 2,415,521 2,512,142 2,612,628 2,717,133 2,825,818 2,938,851 32,550,714
Developer -793635 -7958052                 7,164,416
Public                      
Investor 5,977,993 -7056000 115224 380323 473228 569849 670335 774840 883525 996558 8,170,112
Other Entities 3,583,000 3,583,000                  
Lender 16,304,679 -16449853 1,942,293 1,942,293 1,942,293 1,942,293 1,942,293 1,942,293 1,942,293 1,942,293 17,216,186



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