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Covenant Village: 9% Tax Credit (S)

Input array: AVI

AVI[1] No. of acres (or sq.ft. of land) 8.27
AVI[2] Land cost (/acre or /sq.ft.)(Total $ if AVI[1]=0) 42321.6445
AVI[6] Units to develop 144
AVI[12] Land development 5146.895833
AVI[13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 30.02992883
AVI[14] Service structures 1666.666667
AVI[15] Architecture & engineering 926.7013889
AVI[18] Misc. admin 380.5555556
AVI[19] Expensed costs (except interest) 40
AVI[20],fin.fees,acctg.adj.(ProCash checks) 2413.520833
AVI[21] Contingency, errors & ommissions 1580.597222
AVI[40] Minimum income/unit before vacancy(ex.AVI[7]units) 280
AVI[41] Other income/unit (vacancy applies;ex.AVI[7]units) 84
AVI[44] Start-up operating losses (financed & expensed) 4023.995577
AVI[51] Other income (vacancy rate not applied) 14389.32
AVI[53] Vacancy rate (in normal operating years) 0.07
AVI[55] Operating expenses (fixed, per unit) 1550
AVI[60] Capital replacement (decimal of DFI or $/unit/yr) 150
AVI[83] Developers share of ownership 0.01
AVI[85] Investors share of ownership 0.99
AVI[90] Land lease rate (% of AVI[92] Price or $/Year) 0.06
AVI[93] Who will own land (if land lease exists) 1
AVI[102] Utilities allowance (for rent formula, AVI[3] periods) 63.33
AVI[105] Credit Enhancement (e.g.annual points 1st mtge) 83.33333333
AVI[106] Who Gets Credit Enhancement (see AVI[105]) 7
AVI[120] Investors Tax Rate 0.34
AVI[125] Points for Raising AVI[87] Equity Contribution 0.06541666667
AVI[128] Points 1st Mtge at Const. Loan Settlem AVI[24] 63000
AVI[130] Points 1st Mtge at Perm. Mtge.Close AVI[23 26] 0.03
AVI[131] Annual Growth Rate for Gross Income MV[1] 0.029
AVI[132] Annual Growth Rate for Operating Expenses MV[2] 0.05
AVI[136] Rate to Earn Interest on Reserve for Capital Improvements MV[6] 0.05
AVI[149] Partners Share Oper.Losses(0) No=1 (2=dev.meets from Fin./Eq) MV[22]  
AVI[150] Term Over Which to Depreciate Capital Improvements MV[23] 7
AVI[151] Depreciation Rate Capital Improvements (0 if ACRS) MV[24] 2
AVI[152] Exclude operating losses AVI[44] from mortgage financing(0=inc.)MV[25]  
AVI[156] Inv.Returned Before End.Vlu.(0) or Inv.Ignored (1) MV[29] 1
AVI[158] Starting Year (if MV[31]=0, then 1 2..) MV[31] 1987
AVI[173] LIHTC Tax Credit: Const./Major Rehab(.09 or .04) MV[50] 0.09
AVI[174] LIHTC Units Qualifying (Low Income Hsg.TaxCredit) MV[51] 0.8

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