Prompt: Create a first-year budget for the Wayland Arms, a workforce housing building that a partner acquired with FPI in mind as the manager. From the business development team's conversations with the sponsor, you know ownership plans to implement a value-add business plan which includes unit renovations. Ownership chose FPI because they want to differentiate the asset through community programming, improved marketing, and institutional quality financial reporting. As part of the budgeting process, you have the most recent financials for the property including a T12, a depreciation schedule, a rent roll, and FPI's budget shell. Key assumptions: We hold a monthly line-item for community programming that allows us to host a meaningful resident- event each month Fpi's centralized Sales, Lease Administration, Legal, and Finance teams allow you to more strategically on-site All leasing is done by FPI employees Assignment: Please produce 2020 budget Staffing plan summary 1-page business plan overview. Include any items you think necessary to differentiate the property in the first year and drive returns for the owner. Please also show your work in a separate tab(s) in the budget shell. Prompt: Create a first-year budget for the Wayland Arms, a workforce housing building that a partner acquired with FPI in mind as the manager. From the business development team's conversations with the sponsor, you know ownership plans to implement a value-add business plan which includes unit renovations. Ownership chose FPI because they want to differentiate the asset through community programming, improved marketing, and institutional quality financial reporting. As part of the budgeting process, you have the most recent financials for the property including a T12, a depreciation schedule, a rent roll, and FPI's budget shell. Key assumptions: We hold a monthly line-item for community programming that allows us to host a meaningful resident- event each month Fpi's centralized Sales, Lease Administration, Legal, and Finance teams allow you to more strategically on-site All leasing is done by FPI employees Assignment: Please produce 2020 budget Staffing plan summary 1-page business plan overview. Include any items you think necessary to differentiate the property in the first year and drive returns for the owner. Please also show your work in a separate tab(s) in the budget shell