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Executive Plaza (Pre-Construction)

Input array: AVI

AVI[1] No. of acres (or sq.ft. of land) 3.048
AVI[2] Land cost (/acre or /sq.ft.)(Total $ if AVI[1]=0) 87120.07874
AVI[3] Rent periods/year (1 or 365=commercial;12=resid.) 1
AVI[4] Building efficiency (GLA:GBA) (or GLA) 0.878664181
AVI[6] Units to develop 31112
AVI[12] Land development 1.158074055
AVI[13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 72.75543199
AVI[15] Architecture & engineering 5.211943944
AVI[16] Elevator/escalator 12.05322705
AVI[17] Furniture & equipment 2.595911545
AVI[18] Misc. admin 3.680219851
AVI[19] Expensed costs (except interest) 0.2084404731
AVI[20] Est.const.int,fin.fees,acctg.adj.(ProCash checks) 9.497117725
AVI[23] Opening date for property 8507
AVI[25] Date permanent mortgage deal made 3
AVI[26] Mortgage close (mos.after opening, % rented, or date) 0.885
AVI[28] Mos. after open to realize expected income 72
AVI[29] Vacancy at opening as a decimal of total $ 0.4
AVI[30] Adj. factor to get occupancy from AVI[29] RU(.55) 0.55
AVI[35] Holdback:front money $ or pct. of perm mtge amt 132771
AVI[38] Construction financing interest rate 0.145
AVI[40] Minimum income/unit before vacancy(ex.AVI[7]units) 19.12
AVI[41] Other income/unit (vacancy applies;ex.AVI[7]units) 1.843657817
AVI[44] Start-up operating losses (financed & expensed) 22.4465855
AVI[53] Vacancy rate (in normal operating years) 0.05
AVI[55] Operating expenses (fixed, per unit) 3.6
AVI[61] 1st mortgage loan to value Ratio or $ Amount 0.7499728709
AVI[62] 1st mortgage interest rate 0.115
AVI[63] 1st mortgage term in Years (0=interest only) 25
AVI[83] Developers share of ownership 0.5
AVI[85] Investors share of ownership 0.5
AVI[87] Equity contribution ($ or % Costs Less Land&Fin.) 132771
AVI[89] When equity contribution available 3
AVI[112] Capitalization Rate for Mortgage 0.1
AVI[113] Capitalization Rate for Ending Value(0=Orig.Cost) 0.1
AVI[114] DCF Valuation Rate (total project) 0.15
AVI[120] Investors Tax Rate 0.5
AVI[127] Points 1st Mtge When Perm. Deal Made AVI[25] 0.022122571
AVI[131] Annual Growth Rate for Gross Income MV[1] 0.05
AVI[132] Annual Growth Rate for Operating Expenses MV[2] 0.07
AVI[135] Periods from Start of Analysis to Opening(MV[18]) MV[5] 14
AVI[142] No.Periods to project (MV[19] period definition) MV[13] 9
AVI[149] Partners Share Oper.Losses(0) No=1 (2=dev.meets from Fin./Eq) MV[22] -1
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] 1984
AVI[170] Developer Keeps Surplus Orig. Fin. at Ending Sale MV[46]  
AVI[194] Experimental:depreciate & inc. for LIHTC land dev. & F&E MV[72] 1


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