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Covenant Village:FAHP & LIHTC Test

Input array: ALTI

  AVI/MV Trial 1 Trial 2 Trial 3 Trial 4 Trial 5 Trial 6
AVI[ 1] No. of acres (or sq.ft. of land) 1     8.27 8.27 8.27 8.27
AVI[ 2] Land cost (/acre or /sq.ft.)(Total $ if AVI[1]=0) 2 350000 350000 42321.6445 42321.6445 42321.6445 42321.6445
AVI[ 4] Building efficiency (GLA:GBA) (or GLA) 4 1 1   1 0.95 0.95
AVI[ 11] Depr. assets acquired 11         110 110
AVI[ 12] Land development 12 5146.895833 5146.895833 5146.895833 5146.895833 5146.895833 5146.895833
AVI[ 13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 13 28184 28184 30.02992883 30.02992883 25.005 25.005
AVI[ 14] Service structures 14     1666.666667 1666.666667 1666.666667 1666.666667
AVI[ 15] Architecture & engineering 15     926.7013889 926.7013889 926.7013889 926.7013889
AVI[ 16] Elevator/escalator 16         120 120
AVI[ 17] Furniture & equipment 17         130 130
AVI[ 18] Misc. admin 18     380.5555556 380.5555556 380.5555556 380.5555556
AVI[ 19] Expensed costs (except interest) 19     40 40 40 40
AVI[ 20] Est.const.int,fin.fees,acctg.adj.(ProCash checks) 20 908303.6863 908303.6858 2101.134481 2437.407878 2099.823869 2431.455212
AVI[ 21] Contingency, errors & ommissions 21     1580.597222 1580.597222 1580.597222 1580.597222
AVI[ 22] Reimburseables 22         50 50
AVI[ 26] Mortgage close (mos.after opening, % rented, or date) 26       12   12
AVI[ 28] Mos. after open to realize expected income 28       6   6
AVI[ 29] Vacancy at opening as a decimal of total $ 29       0.8888888889   0.8888888889
AVI[ 30] Adj. factor to get occupancy from AVI[29] RU(.55) 30       1   1
AVI[ 37] Bridge loan interest rate:equity & operations 37   0.095   0.095   0.095
AVI[ 44] Start-up operating losses (financed & expensed) 44 18923.36081 4232005.012 40 1258.926543 40.00235371 1477.12515
AVI[ 45] Working capital (no interest is earned) 45         100 100
AVI[ 46] Operating reserve (on which to earn interest) 46     2430.555556 2430.555556 2330.555556 2330.555556
AVI[ 64] 1st mortgage months Til Balloon 64   180   180   180
AVI[ 69] Who provides 2nd mortgage (see AVI[ 65]) 69 2 6 6 6 6 6
AVI[ 89] When equity contribution available 89   2   2   2
AVI[ 93] Who will own land (if land lease exists) 93 2 1 1 1 1 1
AVI[ 97] Return on equity allowable (for rent formula) 97         0.08 0.08
AVI[ 98] Builders profit (for rent formula) 98         0.07 0.07
AVI[101] Square feet/unit (affects AVI[13]) 101     788.4444444 788.4444444 829.9415 829.9415
AVI[104] Equity Requirement (can be met by AVI[87]) 104         0.05 0.05
AVI[106] Who Gets Credit Enhancement (see AVI[105]) 106 4 7 7 7 7 7
AVI[131] Annual Growth Rate for Gross Income 131   0.03   0.03   0.03
AVI[132] Annual Growth Rate for Operating Expenses 132   0.05   0.05   0.05
AVI[136] Rate to Earn Interest on Reserve for Capital Improvements 136       0.05   0.05
AVI[143] If MV[58]=1,AVI[98] Vlu = Cash Flow(0)or Exc.Fin(1) 143   1   1   1
AVI[150] Term Over Which to Depreciate Capital Improvements 150       7   7
AVI[151] Depreciation Rate Capital Improvements (0 if ACRS) 151 1 1 1 2 1 2
AVI[158] Starting Year (if MV[31]=0, then 1 2..) 158       1987   1987
AVI[172] LIHTC Tax Credit: Acquisition (e.g. .04) 172         0.04 0.04
AVI[173] LIHTC Tax Credit: Const./Major Rehab(.09 or .04) 173 0.09 0.09 0.09 0.09 0.09 0.09
AVI[174] LIHTC Units Qualifying (Low Income Hsg.TaxCredit) 174       1   1
AVI[186] Base Data in 186 1 2 3 4 5 6
AVI[ 47] Rate to earn interest on operating reserve 47     0.06 0.06 0.06 0.06
AVI[ 83] Developers share of ownership 83 1 0.01 0.01 0.01 0.01 0.01
AVI[ 85] Investors share of ownership 85   0.99 0.99 0.99 0.99 0.99
AVI[102] Utilities allowance (for rent formula, AVI[3] periods) 102   63.33 63.33 63.33 63.33 63.33
AVI[120] Investors Tax Rate 120   0.34 0.34 0.34 0.34 0.34
AVI[128] Points 1st Mtge at Const. Loan Settlem AVI[24] 128 0.06544523013 0.06544523013 63000 63000 63000 63000
AVI[ 86] Number of equity payments (for AVI[87]) 86   4 4 4 4 4



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