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MXD Proposal, Scenario 2-A:Phase 1: Hotel

Schedule C: Residual Values & IROR's

(column heading(s) indicate method for calculating residual value)

  Capitalized value
PROJECT  
165 Capitalized Cost (TCC) 30959165
190 Residual Value 29494309
195 Land Residual 5898862
670 Mtge Amortization 15273892
710 Depreciation 13432312
   
Developer  
1 370 Return of Investment 7164416
1 916 Pre-Tax Present Value -4798653
1 926 Pre-Tax Net Cash -793635
   
Public  
2 916 Pre-Tax Present Value  
2 926 Pre-Tax Net Cash  
   
Investor  
3 370 Return of Investment 7056000
3 916 Pre-Tax Present Value -1276468
3 926 Pre-Tax Net Cash 5977993
   
Other  
4 916 Pre-Tax Present Value 3199107
4 926 Pre-Tax Net Cash 3583000
   
Lender  
5 670 Mtge Amortization 15273892
5 916 Pre-Tax Present Value -529384
5 926 Pre-Tax Net Cash 16304679
   
All Participants  
99 916 Pre-Tax Present Value -3405398
99 926 Pre-Tax Net Cash 25072037
   
Developer  
1 936 IROR Pre-Tax  
1 938 FMRR Pre-Tax 0.09
   
Public  
2 936 IROR Pre-Tax  
2 938 FMRR Pre-Tax  
   
Investor  
3 936 IROR Pre-Tax 8.53
3 938 FMRR Pre-Tax 10.6
   
Other  
4 936 IROR Pre-Tax  
4 938 FMRR Pre-Tax  
   
Lender  
5 936 IROR Pre-Tax 11.31
5 938 FMRR Pre-Tax 12.96
   
All Participants  
99 936 IROR Pre-Tax 9.53
99 938 FMRR Pre-Tax 11.58



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