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Covent Gardens 11

Input array: AVI

AVI[1] No. of acres (or sq.ft. of land) 10
AVI[2] Land cost (/acre or /sq.ft.)(Total $ if AVI[1]=0) 20
AVI[6] Units to develop 0.2
AVI[10] Date of costs to date (CM[;6]) 10175
AVI[12] Land development 1580
AVI[13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 12660
AVI[17] Furniture & equipment 1342
AVI[20] Est.const.int,fin.fees,acctg.adj.(ProCash checks) 2341.5
AVI[23] Opening date for property 50176
AVI[26] Mortgage close (mos.after opening, % rented, or date) 3
AVI[29] Vacancy at opening as a decimal of total $ 0.825
AVI[30] Adj. factor to get occupancy from AVI[29] RU(.55) 0.84
AVI[38] Construction financing interest rate 0.0830871297
AVI[39] Internal interest rate 0.1
AVI[40] Minimum income/unit before vacancy(ex.AVI[7]units) 217
AVI[44] Start-up operating losses (financed & expensed) 1725.229506
AVI[53] Vacancy rate (in normal operating years) 0.05
AVI[56] Variable expenses (percent of income) 0.3684210526
AVI[58] Real estate taxes (% rent roll) or ($/$00 value) 0.2291009783
AVI[60] Capital replacement (decimal of DFI or $/unit/yr) 0.04619463434
AVI[61] 1st mortgage loan to value Ratio or $ Amount 0.9937545288
AVI[62] 1st mortgage interest rate 0.075
AVI[63] 1st mortgage term in Years (0=interest only) 40
AVI[83] Developers share of ownership 0.05
AVI[85] Investors share of ownership 0.95
AVI[87] Equity contribution ($ or % Costs Less Land&Fin.) 540
AVI[111] Tax Abatement (decimal) 0.8
AVI[112] Capitalization Rate for Mortgage 0.08
AVI[113] Capitalization Rate for Ending Value(0=Orig.Cost) 0.08846806105
AVI[135] Periods from Start of Analysis to Opening(MV[18]) MV[5] 5.333333333
AVI[136] Rate to Earn Interest on Reserve for Capital Improvements MV[6] 0.04
AVI[139] Credits Against Vacancy Loss (HAP) MV[9] 0.8
AVI[140] Period to Start Credits Against Vacancy Loss (HAP) MV[10] 2
AVI[142] No.Periods to project (MV[19] period definition) MV[13] 21
AVI[150] Term Over Which to Depreciate Capital Improvements MV[23] 8
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 Dist.in End.Vlu.(0) or Inv.Ignored (1) MV[29] 1
AVI[158] Starting Year (if MV[31]=0, then 1 2..) MV[31] 1977
AVI[169] Construction interest capitalized (0 means expense 100%) MV[45]  
AVI[186] Base Data in MV[64] -1


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