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ProCash, an Economic Model for Income Properties

Kickers or Participations

Kickers can be imposed most easily with the A vector, up to a limit of two kickers.

first second 
kicker kicker

Amount expressed as a decimal AVI[70] AVI[71] Base to be excluded from kicker AVI[72] AVI[73] Type of kicker (see below) AVI[74] AVI[75] Who gets the kicker (entity #) AVI[76] AVI[77]

The types of kickers provided for are as follows: Type 1: net rent roll (after vacancy but before operating expense) Type 2: net available for debt service (before deducting capital improvements) Type 3: net cash flow after debt service but before ground rent and kickers. Type 4: cash flow after senior financing costs including ground rent but excluding kickers. Type 5: cash flow after all senior financing costs including ground rent and kickers, but excluding capital replacement. Type 6: net cash flow (after capital replacement, debt service, ground rent, kickers) Type 7: lump sum amount expressed as AVI[70] or KICKERS [;2] Type 8: outstanding mortgage balance Type 9: minimum rent plus overage rent Type 10: overage rent Type 11: minimum rent Type 12: real estate taxes Type 13: see PFDRET

Kickers may be more complicated than is provided for by these inputs. In that case, the input array KICKERS can be used. It is a matrix of which each row is a kicker, up to as many as desired.

inputdescriptionhelp#importancefrequency
AVI[70]First kicker 622  2
AVI[71]Second kicker 622  2
AVI[72]Base for first kicker 622  2
AVI[73]Base for second kicker 622  2
AVI[74]First kicker type 622  2
AVI[75]Second kicker type 622  2
AVI[76]Who gets first kicker (see AVI[ 70]) 622  2
AVI[77]Who gets second kicker (see AVI[ 71]) 622  2
KICKERS[;1]Participation(s): Chart of accounts code 622  2
KICKERS[;2]Participation(s): Amount (decimal) 622  2
KICKERS[;3]Participation(s): Type of participation 622  2
KICKERS[;4]Participation(s): Entity (partner) ID # 622  2
KICKERS[;6]Participation(s): Base exempted from calc'n of kicker 622  2
KICKERS[;7]Participation(s): Ceiling (maximum amount) 622  2
KICKERS[;8]Participation(s): Investment base for calc'n of kicker 622  2
KICKERS[;9]Participation(s): Starting balance accrued 622  2
KICKERS[;10]Participation(s): Years to forego up front 622  2
KICKERS[;11]Participation(s): When participation ceases 622  2
KICKERS[;12]Participation(s): Pay current only or accrue if unpaid 622  2
KICKERS[;13]Participation(s): Adjustment factor 622  2
KICKERS[;14]Participation(s): Annual rate to increase (if fixed) 622  2
KICKERS[;15]Participation(s): Pay even if cash flow insufficient 622  2
KICKERS[;16]Participation(s): Allow negative participation 622  2
KICKERS[;17]Participation(s): Income taxes applicable or exempt 622  2
AVI[195]Turn off input array 622  

viewtypecase studyviewfile sizecomplexityhelp#comment
OutputsTax Credits for Low Income Housing, 11th Edition(residual values & iror's) 6058 154 622 
St. Lucie Warehouse(residual values & iror's) 6086 168 622 
InputsShopping Center Illustration(kickers) 6321 209 622 
Turnkey Syndication : LIHTC(kickers) 6570 237 622 
OutputsABCO Joint Venture (office)(residual values & iror's) 7911 241 622 
601 Liberty St. (office)(residual values & iror's) 7773 250 622 
Mixed Use Development (Scenario 2-A)(residual values & iror's) 7420 255 622 
Shelter School Renovation (L&H)(residual values & iror's) 7694 261 622 
Belle Glade 72 Units Deal A(residual values & iror's) 7820 267 622 
Shopping Center Illustration(residual values & iror's) 7297 274 622 
Tower Point Apartments (detail)(residual values & iror's) 7893 289 622 
Spring Valley Hotel(residual values & iror's) 7214 292 622 
Brandon Villas of Tampa (market housing)(residual values & iror's) 8035 295 622 
Tower Point Apartments (demo)(residual values & iror's) 7977 296 622 
Executive Plaza (Pre-Const., office)(residual values & iror's) 8165 297 622 
Executive Plaza (Under Const., office)(residual values & iror's) 8167 300 622 
Demo Mixed Use Facility(residual values & iror's) 8902 322 622 
Conv. 9% FAHP 3% 25 Years: 13 Areas (housing)(residual values & iror's) 10614 346 622 
Turnkey Syndication : LIHTC(residual values & iror's) 12245 423 622 
Windsong Housing Associates : LIHTC(residual values & iror's) 13069 463 622 
601 Liberty St., Hotel Joint Venture(residual values & iror's) 23613 1995 622 
BHP II Limited Partnership : LIHTC(residual values & iror's) 23169 2435 622 

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