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Analysis for Affordable Housing Study Commission

Input array: AVI

AVI[2] Land cost (/acre or /sq.ft.)(Total $ if AVI[1]=0) 1500000
AVI[6] Units to develop 200
AVI[13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 40700
AVI[20] Est.const.int,fin.fees,acctg.adj.(ProCash checks) 2657.813085
AVI[37] Bridge loan interest rate:equity & operations 0.1
AVI[44] Start-up operating losses (financed & expensed) 4604.260854
AVI[53] Vacancy rate (in normal operating years) 0.03
AVI[55] Operating expenses (fixed, per unit) 2200
AVI[61] 1st mortgage loan to value Ratio or $ Amount 1
AVI[62] 1st mortgage interest rate 0.0825
AVI[63] 1st mortgage term in Years (0=interest only) 30
AVI[64] 1st mortgage months Til Balloon 180
AVI[65] 2nd mortgage loan to value ratio or $ amount 2000000
AVI[66] 2cd mortgage interest rate 0.02
AVI[68] 2cd mortgage months til balloon 180
AVI[69] Who provides 2nd mortgage (see AVI[ 65]) 6
AVI[83] Developers share of ownership 0.01
AVI[85] Investors share of ownership 0.99
AVI[86] Number of equity payments (for AVI[87]) 4
AVI[87] Equity contribution ($ or % Costs Less Land&Fin.) 0.7
AVI[89] When equity contribution available 2
AVI[96] Mortgage amounts based on cost (default=value) 1
AVI[97] Return on equity allowable (for rent formula) 20
AVI[102] Utilities allowance (for rent formula, AVI[3] periods) 65
AVI[104] Equity Requirement (can be met by AVI[87]) 0.08
AVI[105] Credit Enhancement (e.g.annual points 1st mtge) 0.015
AVI[120] Investors Tax Rate 0.34
AVI[125] Points for Raising AVI[87] Equity Contribution 0.065
AVI[130] Points 1st Mtge at Perm. Mtge.Close AVI[23 26] 0.05
AVI[152] Exclude operating losses AVI[44] from mortgage financing(0=inc.)MV[25]  
AVI[156] Inv.Returned Before Dist.in End.Vlu.(0) or Inv.Ignored (1) MV[29] 1
AVI[159] Financing is tax exempt (default=not tax exempt) MV[32] 1
AVI[173] LIHTC Tax Credit: Const./Major Rehab(.09 or .04) MV[50] 0.04
AVI[181] Required debt service coverage (e.g. 1.15 or 1.2) MV[59] 1.1
AVI[182] No. of obligations to inc.(exc.credit enhancement) MV[60] 1
AVI[186] Base Data in MV[64] 7

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