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HomeMy WebLinkAbout082014 Commissioner Financial Info Packet CA R M E L R E D E V E L O P M E N T C O M M I S S I O N Fi n a n c i a l I n f o r m a t i o n P a c k e t Fo r t h e M o n t h E n d i n g J u l y 3 1 , 2 0 1 4 Sc h e d u l e Se c t i o n Sc h e d u l e 1 - A n n u a l B u d g e t S u m m a r y U p d a t e 1 Re v e n u e B u d g e t A n a l y s i s 1A Ex p e n d i t u r e B u d g e t A n a l y s i s 1B Su m m a r y o f C a s h a n d C a s h R i g h t s 1C Fu n d B a l a n c e s a n d O u t s t a n d i n g R e c e i v a b l e s 1D Sc h e d u l e 2 - D e b t S u m m a r y 2 Ad d i t i o n a l I n f o r m a t i o n 2A De v e l o p e r B o n d s 2B Ap p e n d i x A - A n a l y s i s o f T I F C o l l e c t i o n s An a l y s i s o f A c t u a l S p r i n g a n d E s t i m a t e d F a l l 2 0 1 4 T I F C o l l e c t i o n s A- 1 An a l y s i s o f J u n e 2 0 1 4 T I F C o l l e c t i o n s a n d D i s b u r s e m e n t s A- 2 Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n Fi n a n c i a l P a c k e t Ta b l e o f C o n t e n t s Carmel Redevelopment Commission Annual Budget Summary Update as of 7/31/14 Reference C I E E F G 1 ActualActual PROJECTEDAmended % CompleteVariance ofRevised Budget 2 June July August Total Approved Approved 3 Projections Budget6/18/2014 4 BEGINNING BALANCE WITHOUT RESTRICTED FUNDS $170,077$10,930,674 $887,523 5 6 RESTRICTED FUNDS BALANCE 7Energy Center Consumption Reserve Balance500,000500,000 500,000500,000 500,000 8Interest for Energy Center Consumption Reserve1,5171,588 1,5881,588 9Parcel 7C Tenant Rent Reserve Balance800,000800,000 800,000800,000 800,000 10Interest for Parcel 7C Tenant Rent Reserve 1,4811,594 1,5941,594 11Supplemental Reserve Fund Balance 559,500 1,119,000 1,119,000 12 Total Restricted Funds Balance 1,302,998 1,303,182 1,862,682 2,422,182 2,419,000 13 14 BEGINNING BALANCE WITH RESTRICTED FUNDS 1,473,07512,233,855 2,750,20515 16 TRANSFERS FROM RESTRICTED FUNDS 17Transfer from Energy Center Consumption Reserve500,000 500,000 500,000 18Transfer from Parcel 7C Tenant Rent Reserve200,000 200,000 200,000 19 Total Transfers From Restricted Funds 700,000 700,000 700,000 20 21 RECEIPTS - NON OPERATING 22Interest 317 57 585 279%210 23Net Increment 24TIF Revenue, Net of Developer Pass Through 10,673,277(1,871,180)17,532,007 50%17,532,007 25One-time Merchants Square Bond Defeasance Funds00 565,281 100%0 565,281 26Nash PIATT Payments (December 2013 and June 2014)76,2210 76,221 100%0 76,221 27Village Financial Secondary IPC 0(58,699)(238,659) 52%(276,210) 282006 COIT Refunding Bond (484,228)0 (963,761) 50%(963,761) 29Certificates of Participation, Series 2010C (Energy Center)0(682,894)(2,048,538) 67%(2,048,538) 30Illinois Street Bond 0(454,284)(1,367,685) 67%(1,367,685) 312013 Illinois Street Bond 0(134,460)(244,472) 55%(244,472) 322005 PAC Lease 0(2,328,000)(4,656,000) 50%(4,656,000) 332012 Lease 0(4,618,000)(13,126,000) 65%(13,126,000) 34 Net Increment after Debt Service and Developer Pass Through 10,265,587 (10,147,460) (4,471,020) (4,509,157) 35 TOTAL RECEIPTS - NON OPERATING 10,265,587(10,147,460)(4,471,020) (4,509,157) 36 37 RECEIPTS - OPERATING 38Interest 11 68 356 129%80 276 39Energy Payments 053,843 26,922 323,060 58%323,060 402013 and 2014 REI Energy Payments 13,74514,050 24,512 146,461 113%38,562 107,899 414CDC Grants 016,285 337,909 31%337,909 42Civic Rent 00 200,000 0%200,000 43Keystone Group, LLC Receivable (Bond Enhancement) 201300 172,753 172,753 0%172,753 44Keystone Group, LLC Receivable (Bond Enhancement) 201400 200,000 0%200,000 45Sale of Buildings - Projected 00 65,000 1,065,000 0%1,000,000 46 Miscellaneous Receipts 74,734 67,445 142,179 0%0 47 TOTAL RECEIPTS - OPERATING 88,490 151,691 289,187 2,587,717 2,341,897 48 TOTAL RECEIPTS 10,354,078 (9,995,768)289,187 (1,883,303)49 50 EXPENDITURES - NON OPERATING 51Construction 52Palladium Construction/Retention and Legal107,79634,401 16,717 1,100,000 69%1,100,000 53Contingency Fund 00 590,000 100%0590,000 54Parcel 73 Streetscape Site Engineering 00 4,167 83%5,011 55Mezz Building Site Engineering 00 1,392 10,280 84%10,624 563rd Avenue and Monon Connecting Path Engineering00 2,000 24,900 0%24,900 57Monon Trail Work Engineering 00 6,712 24,900 0%24,900 58Park Work at Monon Engineering 00 24,900 0%24,900 59Duke Relocation at Pedcor Engineering 00 2,900 8,900 0%8,900 60Parcel 73 Streetscape 00 100,000 0%100,000 61Miscellaneous Construction 00 20,000 0%20,000 62City Center Electric Utility Relocation & Expansion00 250,000 0%250,000 63Mezz Building Site Construction 00 310,000 0%310,000 64Project Professional Fees 65Legal Fees 36,724428 9,363 195,000 70%195,000 66Architecture/Engineering Fees 00 10,000 0%10,000 67Accounting Fees 10,09512,554 7,773 90,000 69%90,000 68Miscellaneous Professional Fees 00 20,000 0%20,000 69Bond and Trustee Fees 2,5000 30,853 64%37,684 70 Transfer to Supplemental Reserve Fund 584,459 1,111,556 0%1,119,000 71 TOTAL EXPENDITURES - NON OPERATING 157,115 47,383 631,315 3,925,456 3,940,919 72 73 EXPENDITURES - OPERATING 74Projected Reimbursement of Department Expenses00 104,246 0%104,246 75Sophia Square Garage Expenses (2013)136,3670 309,534 100%0309,534 76 Miscellaneous Expenditures 0 0 36,707 41%36,707 77 TOTAL EXPENDITURES - OPERATING 136,367 0 0 450,487 450,487 78 TOTAL EXPENDITURES 293,482 47,383 631,315 4,375,942 79 80 ENDING BALANCE WITHOUT RESTRICTED FUNDS 10,930,674 887,523 545,395 $398,376 $99,165 81 ENDING BALANCE WITH RESTRICTED FUNDS $12,233,671 $2,190,705 $2,408,077 $2,820,558 $2,518,165 A -1- Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n Mo n t h a n d Y e a r t o D a t e R e v e n u e B u d g e t A n a l y s i s Fo r t h e M o n t h E n d i n g J u l y 3 1 , 2 0 1 4 Re f e r e n c e B C D E F G H IJKReference 1 1 2 Co m m e n t s 2 3 Bu d g e t Ac t u a l $ V a r i a n c e Pr o p o s e d Ad j u s t m e n t s Re v i s e d YTD$ Remaining% YTD Recognized 3 4 RE C E I P T S - N O N O P E R A T I N G 4 5 In t e r e s t $0 $5 7 $5 7 $0 21 0 $2 1 0 $586($376)278.90%5 6 TI F R e v e n u e , N e t o f D e v e l o p e r P a s s T h r o u g h (1 , 8 7 1 , 1 8 7 ) (1 , 8 7 1 , 1 8 0 ) 7 19 , 2 4 0 , 4 4 0 (1 , 7 0 8 , 4 3 3 ) 17 , 5 3 2 , 0 0 7 8,805,854$8,726,15350.23%6 7 On e - t i m e M e r c h a n t s S q u a r e B o n d D e f e a s a n c e F u n d s 0 0 0 51 3 , 0 0 0 52 , 2 8 1 56 5 , 2 8 1 565,281$0100.00%7 8 Na s h P I A T T P a y m e n t s ( D e c e m b e r 2 0 1 3 a n d J u n e 2 0 1 4 ) 0 0 0 0 76 , 2 2 1 76 , 2 2 1 76,221$0100.00%8 9 Vi l l a g e F i n a n c i a l S e c o n d a r y I P C (5 8 , 6 9 9 ) (5 8 , 6 9 9 ) 0 (2 7 6 , 2 1 0 ) 0 (2 7 6 , 2 1 0 ) (142,409)($133,801)51.56%9 10 20 0 6 C O I T R e f u n d i n g B o n d 0 0 0 (9 6 3 , 7 6 1 ) 0 (9 6 3 , 7 6 1 ) (484,228)($479,534)50.24%10 11 CO P S , S e r i e s 2 0 1 0 C ( E n e r g y C e n t e r ) (6 8 2 , 8 9 4 ) (6 8 2 , 8 9 4 ) 0 (2 , 0 4 8 , 5 3 8 ) 0 (2 , 0 4 8 , 5 3 8 ) (1 , 3 6 5 , 9 6 3 ) ($682,575)66.68%11 12 Ill i n o i s S t r e e t B o n d (4 5 4 , 2 8 4 ) (4 5 4 , 2 8 4 ) 0 (1 , 5 6 4 , 2 5 1 ) 19 6 , 5 6 6 (1 , 3 6 7 , 6 8 5 ) (911,215)($456,470)66.62%12 13 20 1 3 I l l i n o i s S t r e e t B o n d (1 3 4 , 4 6 0 ) (1 3 4 , 4 6 0 ) 0 (2 4 4 , 4 7 2 ) 0 (2 4 4 , 4 7 2 ) (134,460)($110,012)55.00%13 14 20 0 5 P A C L e a s e (2 , 3 2 8 , 0 0 0 ) (2 , 3 2 8 , 0 0 0 ) 0 (5 , 7 7 5 , 0 0 0 ) 1, 1 1 9 , 0 0 0 (4 , 6 5 6 , 0 0 0 ) (2 , 3 2 8 , 0 0 0 ) ($2,328,000)50.00%14 15 20 1 2 L e a s e (4 , 6 1 8 , 0 0 0 ) (4 , 6 1 8 , 0 0 0 ) 0 (1 3 , 1 2 6 , 0 0 0 ) 0 (1 3 , 1 2 6 , 0 0 0 ) (8 , 5 0 4 , 0 0 0 ) ($4,622,000)64.79%15 16 TO T A L R E C E I P T S - N O N O P E R A T I N G (1 0 , 1 4 7 , 5 2 4 ) (1 0 , 1 4 7 , 4 6 0 ) 64 (4 , 2 4 4 , 7 9 2 ) (2 6 4 , 1 5 5 ) (4 , 5 0 8 , 9 4 7 ) (4 , 4 2 2 , 3 3 3 ) ($86,614)98.08%16 17 17 18 RE C E I P T S - O P E R A T I N G 18 19 In t e r e s t 0 68 68 0 27 6 27 6 356(80)128.89%19 20 En e r g y P a y m e n t s 53 , 8 4 3 53 , 8 4 3 0 32 3 , 0 6 0 0 32 3 , 0 6 0 188,452134,60858.33%20 21 2 0 1 3 a n d 2 0 1 4 R E I E n e r g y P a y m e n t s 0 1 4 , 0 5 0 1 4 , 0 5 0 To s t a y c o n s e r v a t i v e , n o r e v e n u e w a s bu d g e t e d f o r t h i s l i n e i t e m . 0 1 0 7 , 8 9 9 1 0 7 , 8 9 9 1 2 1 , 9 4 9 (14,050)113.02%21 22 4C D C G r a n t s 16 , 2 8 5 16 , 2 8 5 0 40 0 , 0 0 0 (6 2 , 0 9 1 ) 33 7 , 9 0 9 106,218231,69131.43%22 23 Civ i c R e n t 0 0 0 20 0 , 0 0 0 0 20 0 , 0 0 0 0200,0000.00%23 24 Ke y s t o n e G r o u p , L L C R e c e i v a b l e ( B o n d E n h a n c e m e n t ) 2 0 1 3 17 2 , 7 5 3 0 (1 7 2 , 7 5 3 ) Pa y m e n t f r o m K e y s t o n e G r o u p w a s ex p e c t e d b y t h e e n d o f J u l y a n d s t i l l ha s n ' t b e e n p a i d . 20 0 , 0 0 0 (2 7 , 2 4 7 ) 17 2 , 7 5 3 0 1 7 2 , 7 5 3 0 . 0 0 % 2 4 25 Ke y s t o n e G r o u p , L L C R e c e i v a b l e ( B o n d E n h a n c e m e n t ) 2 0 1 4 0 0 0 20 0 , 0 0 0 0 20 0 , 0 0 0 0200,0000.00%25 26 Sa l e o f B u i l d i n g s 0 0 0 0 1, 0 0 0 , 0 0 0 1, 0 0 0 , 0 0 0 01,000,0000.00%26 27 Mi s c e l l a n e o u s R e c e i p t s 0 67 , 4 4 5 67 , 4 4 5 Th i s p a y m e n t w a s n o t a n t i c i p a t e d . 0 0 0 142,179(142,179)0.00%27 28 TO T A L R E C E I P T S - O P E R A T I N G 24 2 , 8 8 1 15 1 , 6 9 1 (9 1 , 1 9 0 ) 1, 3 2 3 , 0 6 0 1, 0 1 8 , 8 3 7 2, 3 4 1 , 8 9 7 559,1541,782,74323.88%28 29 TO T A L R E V E N U E S ($ 9 , 9 0 4 , 6 4 3 ) ($ 9 , 9 9 5 , 7 6 9 ) ($ 9 1 , 1 2 6 ) ($ 2 , 9 2 1 , 7 3 2 ) $7 5 4 , 6 8 2 ($ 2 , 1 6 7 , 0 5 0 ) ($ 3 , 8 6 3 , 1 7 9 ) $1,696,129178.27%29 30 30 Cu r r e n t M o n t h Cu r r e n t Y e a r B u d g e t A -1 A - Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n Mo n t h a n d Y e a r t o D a t e E x p e n d i t u r e B u d g e t A n a l y s i s Fo r t h e M o n t h E n d i n g J u l y 3 1 , 2 0 1 4 Re f e r e n c e B C D E F G H IJKReference 1 1 2 Co m m e n t s 2 3 Bu d g e t Ac t u a l $ V a r i a n c e Pr o p o s e d Ad j u s t m e n t s Re v i s e d YTD$ Remaining% YTD 3 4 EX P E N D I T U R E S : N O N O P E R A T I N G 4 5 Co n s t r u c t i o n 5 6 P a l l a d i u m C o n s t r u c t i o n R e t e n t i o n / L e g a l 2 1 , 4 0 7 3 4 , 4 0 1 ($ 1 2 , 9 9 4 ) Di f f e r e n c e i s t w o W a l t e r P M o o r e i n v o i c e s , w h i c h c a n ' t b e p a i d un t i l t h e i r c o n t r a c t i s a p p r o v e d b y t h e C i t y C o u n c i l . $9 0 0 , 0 0 0 $ 2 0 0 , 0 0 0 $ 1 , 1 0 0 , 0 0 0 $ 7 5 5 , 9 5 9 $ 3 4 4 , 0 4 1 6 8 . 7 2 % 6 7 Co n t i n g e n c y F u n d 0 0 0 59 0 , 0 0 0 $0 $5 9 0 , 0 0 0 590,000$0100.00%7 8 P a r c e l 7 3 S t r e e t s c a p e S i t e E n g i n e e r i n g 8 4 4 0 8 4 4 Am o u n t w a s e x p e c t e d t o b e p a i d i n J u l y b u t w o n ' t u n t i l a t l e a s t Au g u s t . 5, 0 1 1 $ 0 5 , 0 1 1 4 , 1 6 7 $ 8 4 4 8 3 . 1 6 % 8 9 M e z z B u i l d i n g S i t e E n g i n e e r i n g 1 , 7 3 6 0 1 , 7 3 6 Am o u n t w a s e x p e c t e d t o b e p a i d i n J u l y b u t w o n ' t u n t i l a t l e a s t Au g u s t . 10 , 6 2 4 $ 0 1 0 , 6 2 4 8 , 8 8 8 $ 1 , 7 3 6 8 3 . 6 6 % 9 10 3 r d A v e n u e a n d M o n o n C o n n e c t i n g P a t h E n g i n e e r i n g 4 , 1 5 0 0 4 , 1 5 0 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 0 $ 2 4 , 9 0 0 2 4 , 9 0 0 0 $ 2 4 , 9 0 0 0 . 0 0 % 1 0 11 M o n o n T r a i l W o r k E n g i n e e r i n g 4 , 1 5 0 0 4 , 1 5 0 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 0 $ 2 4 , 9 0 0 2 4 , 9 0 0 0 $ 2 4 , 9 0 0 0 . 0 0 % 1 1 12 P a r k W o r k a t M o n o n E n g i n e e r i n g 4 , 1 5 0 0 4 , 1 5 0 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 0 $ 2 4 , 9 0 0 2 4 , 9 0 0 0 $ 2 4 , 9 0 0 0 . 0 0 % 1 2 13 D u k e R e l o c a t i o n a t P e d c o r E n g i n e e r i n g 1 , 4 8 3 0 1 , 4 8 3 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 0 $ 8 , 9 0 0 8 , 9 0 0 0 $ 8 , 9 0 0 0 . 0 0 % 1 3 14 P a r c e l 7 3 S t r e e t s c a p e 2 0 , 0 0 0 0 2 0 , 0 0 0 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 30 0 , 0 0 0 ($ 2 0 0 , 0 0 0 ) 10 0 , 0 0 0 0 $ 1 0 0 , 0 0 0 0 . 0 0 % 1 4 15 M i s c e l l a n e o u s C o n s t r u c t i o n 3 , 3 3 3 0 3 , 3 3 3 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 20 , 0 0 0 $ 0 2 0 , 0 0 0 0 $ 2 0 , 0 0 0 0 . 0 0 % 1 5 16 Ci t y C e n t e r e l e c t r i c U t i l i t y R e l o c a t i o n & E x p a n s i o n 0 0 0 25 0 , 0 0 0 $0 25 0 , 0 0 0 0$250,0000.00%16 17 M e z z B u i l d i n g S i t e C o n s t r u c t i o n 7 7 , 5 0 0 0 7 7 , 5 0 0 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 50 0 , 0 0 0 ($ 1 9 0 , 0 0 0 ) 31 0 , 0 0 0 0 $ 3 1 0 , 0 0 0 0 . 0 0 % 1 7 18 Pr o j e c t P r o f e s s i o n a l F e e s 18 19 L e g a l F e e s 9, 8 1 1 4 2 8 9 , 3 8 3 Di f f e r e n c e i s W a l l a c k S o m e r s a n d H a a s b i l l s t h a t w e r e n o t ap p r o v e d b y t h e L a w D e p a r t m e n t i n t i m e . 19 5 , 0 0 0 0 1 9 5 , 0 0 0 1 3 6 , 5 6 1 5 8 , 4 3 9 7 0 . 0 3 % 1 9 20 A r c h / E n g i n e e r i n g 1, 6 6 7 0 1 , 6 6 7 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 40 , 0 0 0 (3 0 , 0 0 0 ) 10 , 0 0 0 0 1 0 , 0 0 0 0 . 0 0 % 2 0 21 A c c o u n t i n g F e e s 6, 6 7 7 1 2 , 5 5 4 (5 , 8 7 7 ) Bu d g e t e d a m o u n t w a s e s t i m a t e d . D i f f e r e n c e i n c l u d e d a s e m i - an n u a l p a y m e n t o f $ 6 , 8 3 1 . 10 0 , 0 0 0 (1 0 , 0 0 0 ) 90 , 0 0 0 6 2 , 4 9 3 2 7 , 5 0 7 6 9 . 4 4 % 2 1 22 M i s c e l l a n e o u s P r o f e s s i o n a l F e e s 3 , 3 3 3 0 3 , 3 3 3 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 25 , 0 0 0 (5 , 0 0 0 ) 20 , 0 0 0 0 2 0 , 0 0 0 0 . 0 0 % 2 2 23 B o n d a n d T r u s t e e F e e s 6 , 8 3 1 0 6 , 8 3 1 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 34 , 0 8 4 3 , 6 0 0 3 7 , 6 8 4 2 4 , 0 9 3 1 3 , 5 9 1 6 3 . 9 3 % 2 3 24 Tr a n s f e r t o S u p p l e m e n t a l R e s e r v e F u n d 0 0 0 0 1,1 1 9 , 0 0 0 1, 1 1 9 , 0 0 0 01,119,0000.00%24 25 TO T A L E X P E N D I T U R E S - N O N O P E R A T I N G 16 7 , 0 7 2 47 , 3 8 3 11 9 , 6 8 9 2, 9 6 9 , 7 1 9 97 1 , 2 0 0 3, 9 4 0 , 9 1 9 1,582,1612,358,75840.15%25 26 26 27 EX P E N D I T U R E S : O P E R A T I N G 27 28 Pr o j e c t e d R e i m b u r s e m e n t o f D e p a r t m e n t E x p e n s e s 0 0 0 38 3 , 1 7 8 (2 7 8 , 9 3 2 ) 10 4 , 2 4 6 0104,2460.00%28 29 So p h i a S q u a r e G a r a g e E x p e n s e s 0 0 0 0 30 9 , 5 3 4 30 9 , 5 3 4 309,5331100.00%29 30 M i s c e l l a n e o u s E x p e n d i t u r e s 1 , 1 0 1 0 1 , 1 0 1 Am o u n t w a s e x p e c t e d t o b e b i l l e d a n d p a i d i n J u l y , b u t n o t h i n g ha s y e t b e e n r e c e i v e d . 51 , 6 0 7 (1 4 , 9 0 0 ) 36 , 7 0 7 1 5 , 2 2 4 2 1 , 4 8 3 4 1 . 4 7 % 3 0 31 TO T A L E X P E N D I T U R E S - O P E R A T I N G 1, 1 0 1 0 1, 1 0 1 43 4 , 7 8 5 15 , 7 0 2 45 0 , 4 8 7 324,757125,73072.09%31 32 TO T A L E X P E N D I T U R E S $1 6 8 , 1 7 3 $4 7 , 3 8 3 $1 2 0 , 7 9 0 $3 , 4 0 4 , 5 0 4 $9 8 6 , 9 0 2 $4 , 3 9 1 , 4 0 6 $1,906,9182,484,48843.42%32 Cu r r e n t M o n t h Cu r r e n t Y e a r B u d g e t A -1 B - Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n Su m m a r y o f C a s h Fo r t h e M o n t h E n d i n g J u l y 3 1 , 2 0 1 4 Re f e r e n c e A B Reference 1 1 2 De s c r i p t i o n Ac t u a l Bu d g e t Va r i a n c e 2 3 Ca s h B a l a n c e 7 / 1 / 1 4 3 4 1 1 0 1 C a s h 3 7 8 , 6 3 3 . 9 7 $ 3 7 8 , 6 3 3 . 9 7 $ - $ 4 5 1 1 1 0 T I F 1 0 , 5 5 2 , 0 3 9 . 5 3 1 0 , 5 5 2 , 0 3 9 . 5 3 - 5 6 To t a l C a s h 1 0 , 9 3 0 , 6 7 3 . 5 0 $ 1 0 , 9 3 0 , 6 7 3 . 5 0 $ - $ 6 7 7 8 Re c e i p t s 8 9 1 1 0 1 C a s h 1 5 1 , 6 9 1 . 4 5 $ 2 4 2 , 8 8 1 . 0 0 $ ( 9 1 , 1 8 9 . 5 5 ) $ 9 10 1 1 1 0 T I F ( 8 , 2 7 6 , 2 7 9 . 1 0 ) ( 8 , 2 7 6 , 3 3 6 . 2 0 ) 5 7 . 1 0 10 11 D e v e l o p e r P a y m e n t s ( 1 , 8 7 1 , 1 8 0 . 4 0 ) ( 1 , 8 7 1 , 1 8 6 . 7 0 ) 6 . 3 0 11 12 To t a l R e c e i p t s ( 9 , 9 9 5 , 7 6 8 . 0 5 ) $ ( 9 , 9 0 4 , 6 4 1 . 9 0 ) $ ( 9 1 , 1 2 6 . 1 5 ) $ 12 13 13 14 Di s b u r s e m e n t s 14 15 1 1 0 1 C a s h 4 7 , 3 8 2 . 7 9 $ 1 6 8 , 1 7 4 . 0 0 $ 1 2 0 , 7 9 1 . 2 1 $ 15 16 1 1 1 0 T I F - - - 16 17 To t a l D i s b u r s e m e n t s 4 7 , 3 8 2 . 7 9 $ 1 6 8 , 1 7 4 . 0 0 $ 1 2 0 , 7 9 1 . 2 1 $ 17 18 18 19 1 1 0 1 C a s h 4 8 2 , 9 4 2 . 6 3 $ 4 5 3 , 3 4 0 . 9 7 $ 2 9 , 6 0 1 . 6 6 $ 19 20 1 1 1 0 T I F 4 0 4 , 5 8 0 . 0 3 4 0 4 , 5 1 6 . 6 3 6 3 . 4 0 $ 20 21 Ca s h B a l a n c e 7 / 3 1 / 1 4 8 8 7 , 5 2 2 . 6 6 $ 8 5 7 , 8 5 7 . 6 0 $ 2 9 , 6 6 5 . 0 6 $ 21 22 22 23 To t a l U s a b l e F u n d s $ 8 8 7 , 5 2 2 . 6 6 $ 8 5 7 , 8 5 7 . 6 0 $ 2 9 , 6 6 5 . 0 6 23 -1 C - Restricted Funds Energy Center Reserve $501,588 Civic Rent Reserve 801,594 Sub-total:1,303,182 Cash TIF 404,580 Operating 482,943 Sub-total:887,523 Total Funds $2,190,705 Carmel Redevelopment Commission Fund Balances and Outstanding Receivables as of 7/31/14 Fund Balances -1D- Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n De b t S u m m a r y Fo r t h e Y e a r E n d i n g D e c e m b e r 3 1 , 2 0 1 4 Re f e r e n c e A B C D E F G H I J K R e f e r e n c e 8/ 1 / 1 4 Re v e n u e O r i g i n a l O u t s t a n d i n g 2 0 1 4 2 0 1 4 T o t a l F i r s t S e c o n d Is s u a n c e T y p e S o u r c e D e b t A m o u n t I n t e r e s t R a t e P a r A m o u n t P r i n c i p a l D u e ( 1 ) I n t e r e s t D u e ( 1 ) D e b t S e r v i c e I n s t a l l m e n t Installment 1 T a x I n c r e m e n t R e v e n u e B o n d s , S e r i e s 2 0 0 4 A ( I l l i n o i s S t r e e t ) B o n d T I F $ 9 , 5 0 0 , 0 0 0 6 . 6 5 0 % $ 6 , 3 6 0 , 0 0 0 $ 4 8 0 , 0 0 0 $ 4 3 0 , 7 5 4 $ 9 1 0 , 7 5 4 $ 4 5 4 , 2 8 4 $ 4 5 6 , 4 7 0 1 2 C O I T R e v e n u e R e f u n d i n g B o n d s , S e r i e s 2 0 0 6 B o n d T I F 8 , 7 8 5 , 0 0 0 5 . 2 5 0 - 5 . 2 7 0 % 3 , 8 0 0 , 0 0 0 7 5 5 , 0 0 0 2 0 8 , 7 6 1 9 6 3 , 7 6 1 4 8 4 , 2 2 8 4 7 9 , 5 3 4 2 3 L e a s e R e n t a l R e v e n u e B o n d s , S e r i e s 2 0 0 5 ( P A C C A B ) L e a s e T I F 2 7 , 7 9 8 , 2 2 7 4 . 6 2 5 - 1 0 . 2 0 0 % 1 9 , 6 4 9 , 1 5 0 1 , 5 8 3 , 6 0 8 1 , 5 9 6 , 3 9 2 3 , 1 8 0 , 0 0 0 0 3 , 1 8 0 , 0 0 0 3 4 L e a s e R e n t a l R e v e n u e B o n d s , S e r i e s 2 0 1 2 A L e a s e T I F 1 1 5 , 9 0 0 , 0 0 0 2 . 6 2 5 - 4 . 0 0 0 % 1 1 5 , 9 0 0 , 0 0 0 0 4 , 3 9 2 , 5 8 2 4 , 3 9 2 , 5 8 2 2 , 1 9 6 , 2 9 1 2 , 1 9 6 , 2 9 1 4 5 L e a s e R e n t a l R e v e n u e B o n d s , S e r i e s 2 0 1 2 B L e a s e T I F 6 9 , 2 4 5 , 0 0 0 0 . 6 0 8 - 3 . 0 0 0 % 6 6 , 5 1 0 , 0 0 0 3 , 4 8 0 , 0 0 0 1 , 3 5 6 , 0 3 0 4 , 8 3 6 , 0 3 0 2 , 4 1 6 , 0 1 2 2 , 4 2 0 , 0 1 8 5 6 R e d e v e l o p m e n t D i s t r i c t B o n d s o f 2 0 1 3 ( I l l i n o i s S t r e e t ) B o n d T I F 6 , 5 3 5 , 0 0 0 2 . 0 0 0 - 4 . 0 0 0 % 6 , 5 3 5 , 0 0 0 0 2 4 4 , 4 7 2 2 4 4 , 4 7 2 1 3 4 , 4 6 0 1 1 0 , 0 1 3 6 7 L e a s e R e n t a l R e v e n u e R e f u n d i n g B o n d s , S e r i e s 2 0 1 4 ( P A C ) L e a s e T I F 5 5 , 6 8 5 , 0 0 0 2 . 2 5 0 - 5 . 0 0 0 % 5 5 , 6 8 5 , 0 0 0 0 1 , 4 7 0 , 7 9 3 1 , 4 7 0 , 7 9 3 3 7 6 , 8 1 5 1 , 0 9 3 , 9 7 8 7 $2 9 3 , 4 4 8 , 2 2 7 $2 7 4 , 4 3 9 , 1 5 0 $6 , 2 9 8 , 6 0 8 $8 , 2 2 8 , 9 9 1 $1 4 , 5 2 7 , 5 9 9 $6,062,089$9,936,303 8 / 1 / 1 4 R e v e n u e O r i g i n a l O u t s t a n d i n g 2 0 1 4 2 0 1 4 T o t a l Ce r t i f i c a t e o f P a r t i c i p a t i o n ( C O P ) o r I n s t a l l m e n t C o n t r a c t T y p e S o u r c e D e b t A m o u n t I n t e r e s t R a t e A m o u n t P r i n c i p a l D u e ( 1 ) I n t e r e s t D u e ( 1 ) F e e s ( 2 ) D e b t S e r v i c e R e f e r e n c e 8 C e r t i f i c a t e o f P a r t i c i p a t i o n , S e r i e s 2 0 1 0 C ( E n e r g y C e n t e r ) C O P T I F 1 6 , 3 0 0 , 0 0 0 5 . 7 5 0 - 6 . 5 0 0 % 1 5 , 5 9 0 , 0 0 0 3 7 5 , 0 0 0 9 9 0 , 4 6 9 3 1 , 5 8 7 1 , 3 9 7 , 0 5 6 8 9 S e c o n d a r y V i l l a g e F i n a n c i a l C o n t r a c t 1 - C C C L L C ( 3 ) In s t a l l m e n t Co n t r a c t T I F 4 , 5 0 0 , 0 0 0 L I B O R + 2 . 8 % 4 , 5 0 0 , 0 0 0 0 1 5 7 , 5 0 0 1 5 7 , 5 0 0 9 10 S e c o n d a r y V i l l a g e F i n a n c i a l C o n t r a c t 2 - I D C L L C ( 3 ) In s t a l l m e n t Co n t r a c t T I F 1 , 0 0 0 , 0 0 0 L I B O R + 2 . 8 % 1 , 0 0 0 , 0 0 0 0 3 5 , 0 0 0 0 3 5 , 0 0 0 1 0 $2 1 , 8 0 0 , 0 0 0 $2 1 , 0 9 0 , 0 0 0 $3 7 5 , 0 0 0 $1 , 1 8 2 , 9 6 9 $3 1 , 5 8 7 $1,589,556 $3 1 5 , 2 4 8 , 2 2 7 $2 9 5 , 5 2 9 , 1 5 0 $6 , 6 7 3 , 6 0 8 $9 , 4 1 1 , 9 6 0 $3 1 , 5 8 7 $17,587,948 (1 ) T o t a l d e b t s e r v i c e a m o u n t i s p e r a m o r t i z a t i o n s c h e d u l e s o f I s s u a n c e (2 ) R e p r e s e n t A d m i n i s t r a t i v e f e e s p a i d o n e a c h c o n t r a c t . (3 ) I n t e r e s t a m o u n t s a r e e s t i m a t e s s i n c e t h e i n t e r e s t r a t e a c c o u n t s f o r L I B O R . Gr a n d T o t a l Su b T o t a l s Su b T o t a l s -2 - Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n De b t S u m m a r y - A d d i t i o n a l I n f o r m a t i o n Fo r t h e Y e a r E n d i n g D e c e m b e r 3 1 , 2 0 1 4 Re f e r e n c e A B C D E F Reference Fi n a l Is s u a n c e Y e a r I s s u e d 1 s t C a l l M a t u r i t y P a y m e n t D a t e s Pu r p o s e o f I s s u a n c e 1 T a x I n c r e m e n t R e v e n u e B o n d s , S e r i e s 2 0 0 4 A ( I l l i n o i s S t r e e t ) 2 0 0 4 7 / 1 5 / 2 0 1 4 7 / 1 5 / 2 0 2 4 7 / 1 5 / 1 4 , 1 / 1 5 / 1 5 T o f i n a n c e r o a d a n d i n t e r s e c t i o n i m p r o v e m e n t s 1 2 C O I T R e v e n u e R e f u n d i n g B o n d s , S e r i e s 2 0 0 6 2 0 0 6 1 2 / 1 5 / 2 0 1 2 1 2 / 1 5 / 2 0 1 8 6 / 1 5 / 1 4 , 1 2 / 1 5 / 1 4 To r e f u n d C O I T R e v e n u e B o n d s o f 1 9 9 8 , w h i c h w e r e o r i g i n a l l y i s s u e d f o r t h e a c q u i s i t i o n a n d r e d e v e l o p m e n t o f pr o p e r t y i n t h e C i t y C e n t e r R e d e v e l o p m e n t A r e a 2 3 L e a s e R e n t a l R e v e n u e B o n d s , S e r i e s 2 0 0 5 ( P A C C A B ) 2 0 0 5 2 / 1 / 2 0 1 1 2 / 1 / 2 0 3 3 7 / 1 / 1 4 , 1 / 1 / 1 5 T o f i n a n c e t h e d e s i g n a n d c o n s t r u c t i o n o f a n e w p e r f o r m i n g a r t s c e n t e r c o m p l e x 3 4 L e a s e R e n t a l R e v e n u e B o n d s , S e r i e s 2 0 1 2 A ( R e f i n a n c e ) 2 0 1 2 8 / 1 / 2 0 2 6 2 / 1 / 2 0 3 8 7 / 1 / 1 4 , 1 / 1 / 1 5 T o c o n s o l i d a t e a n d r e f i n a n c e a m a j o r i t y o f C R C d e b t a t a l o w e r i n t e r e s t r a t e 4 5 L e a s e R e n t a l R e v e n u e B o n d s , S e r i e s 2 0 1 2 B ( R e f i n a n c e ) 2 0 1 2 2 / 1 / 2 0 1 4 2 / 1 / 2 0 2 5 7 / 1 / 1 4 , 1 / 1 / 1 5 T o c o n s o l i d a t e a n d r e f i n a n c e a m a j o r i t y o f C R C d e b t a t a l o w e r i n t e r e s t r a t e 5 6 R e d e v e l o p m e n t D i s t r i c t B o n d s o f 2 0 1 3 ( I l l i n o i s S t r e e t ) 2 0 1 3 7 / 1 5 / 2 0 2 4 1 / 1 5 / 2 0 3 5 7 / 1 5 / 1 4 , 1 / 1 / 1 5 T o f i n a n c e v a r i o u s i m p r o v e m e n t s t o I l l i n o i s S t r e e t 6 7 L e a s e R e n t a l R e v e n u e R e f u n d i n g B o n d s , S e r i e s 2 0 1 4 ( P A C ) 2 0 1 4 2 / 1 / 2 0 2 4 2 / 1 / 2 0 3 3 7 / 1 / 1 4 , 1 / 1 / 1 5 T o a d v a n c e r e f u n d t h e o u t s t a n d i n g P A C C a p i t a l I n t e r e s t B o n d s , w h i c h w e r e u s e d t o c o n s t r u c t t h e P A C 7 Fi n a l Is s u a n c e Y e a r I s s u e d 1 s t C a l l M a t u r i t y P a y m e n t D a t e s Pu r p o s e o f I s s u a n c e 8 C e r t i f i c a t e o f P a r t i c i p a t i o n , S e r i e s 2 0 1 0 C ( E n e r g y C e n t e r ) 2 0 1 0 7 / 1 5 / 2 0 2 2 7 / 1 5 / 2 0 3 5 7 / 1 5 / 1 4 , 1 / 1 5 / 1 5 T o P r o v i d e f o r t h e d e v e l o p m e n t a n d c o n s t r u c t i o n o f a p o r t i o n o f t h e r e g i o n a l p e r f o r m i n g a r t s c e n t e r 8 9 S e c o n d a r y V i l l a g e F i n a n c i a l C o n t r a c t 1 - C C C L L C 2 0 1 1 N / A 7 / 1 5 / 2 0 3 4 7 / 1 5 / 1 4 , 1 / 1 5 / 1 5 T o a c q u i r e e x i s t i n g i m p r o v e m e n t s f o r t h e C i t y C e n t e r g a r a g e 9 10 S e c o n d a r y V i l l a g e F i n a n c i a l C o n t r a c t 2 - I D C L L C 2 0 1 1 N / A 7 / 1 5 / 2 0 3 4 7 / 1 5 / 1 4 , 1 / 1 5 / 1 5 T o a c q u i r e e x i s t i n g i m p r o v e m e n t s f o r t h e I n d i a n a D e s i g n C e n t e r g a r a g e 10 Bo n d A d d i t i o n a l I n f o r m a t i o n Ce r t i f i c a t e o f P a r t i c i p a t i o n a n d I n s t a l l m e n t C o n t r a c t s - A d d i t i o n a l I n f o r m a t i o n -2 A - Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n De v e l o p e r B o n d s ( I n f o r m a t i o n a l P u r p o s e s O n l y ) As o f A u g u s t 1 , 2 0 1 4 Re f e r e n c e A B C D E F G Reference 1 Is s u a n c e ( 1 ) TI F A r e a ( 2 ) Or i g i n a l I s s u a n c e Am o u n t Ou t s t a n d i n g Ba l a n c e M a t u r i t y December 2013 Collections (2)June 2014 Collections (2)1 2 Ta x a b l e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s , S e r i e s 2 0 0 6 ( P a r k w o o d W e s t P r o j e c t ) Pa r k w o o d C r o s s i n g 4, 8 0 0 , 0 0 0 3, 8 0 0 , 0 0 0 20 2 6 627,315641,0082 3 Ta x a b l e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s , S e r i e s 2 0 0 6 B ( B u c k i n g h a m - G r a m e r c y P r o j e c t ) ( 3 ) Gr a m e r c y 2 0 , 0 0 0 , 0 0 0 1 4 8 , 1 0 7 2 0 2 7 4 4 3 4 Ta x a b l e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s o f 2 0 1 1 ( 1 1 6 t h S t r e e t C e n t r e P r o j e c t ) 11 6 t h S t . C e n t r e 2, 0 5 0 , 0 0 0 2, 0 5 0 , 0 0 0 20 3 6 15,317133,1054 5 Ta x a b l e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s o f 2 0 1 1 ( I n d i a n a S p i n e G r o u p P r o j e c t ) ( 4 ) Me r i d i a n a n d M a i n 75 1 , 5 0 0 72 6 , 6 0 0 20 3 1 133,40174,8825 6 Se n i o r E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s , S e r i e s 2 0 1 1 A Ar t s D i s t r i c t L o f t s & S h o p p e s 9, 6 3 0 , 0 0 0 9, 0 5 0 , 0 0 0 20 3 1 454,348432,7206 7 Su b o r d i n a t e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s , S e r i e s 2 0 1 1 B ( 5 ) ( A r t s D i s t r i c t L o f t s & S h o p p e s P r o j e c t ) Ar t s D i s t r i c t L o f t s & S h o p p e s 0 0 2 0 3 5 0 0 7 8 Ta x a b l e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s , S e r i e s 2 0 1 3 A ( L e g a c y ) Le g a c y 4, 5 0 0 , 0 0 0 4, 5 0 0 , 0 0 0 20 3 5 63,945204,4298 9 To t a l $4 1 , 7 3 1 , 5 0 0 $2 0 , 2 7 4 , 7 0 7 $1,294,331$1,486,1499 10 10 11 11 12 12 13 13 14 14 15 15 16 (3 ) T h e B o n d s w e r e i s s u e d a s d r a w b o n d s . T h e a m o u n t s h o w n r e p r e s e n t s t h e a m o u n t o f p r i n c i p a l d r a w n d o w n a n d o u t s t a n d i n g p e r t h e T r u s t e e . 16 17 17 18 (4 ) T h e D e c e m b e r c o l l e c t i o n s i n c l u d e S p r i n g t a x e s t h a t w e r e p a i d l a t e . 18 19 19 20 (5 ) T h e B o n d s w e r e i s s u e d a s d r a w b o n d s . T h e a m o u n t s h o w n r e p r e s e n t s t h e a m o u n t o f p r i n c i p a l d r a w n d o w n a n d o u t s t a n d i n g p e r t h e o f f i c i a l d r a w s s c h e d u l e d i n t h e I s s u a n c e O f f e r i n g D o c u m e n t s . 20 21 21 (1 ) T h e C R C P a y a b l e p o r t i o n o f t h e d e b t s e r v i c e i s l i m i t e d u p t o t h e t o t a l i n c r e m e n t a l r e v e n u e s o f t h e d e s i g n a t e d T I F a r e a . A n y d e b t s e r v i c e i n e x c e s s o f t h e i n c r e m e n t r e v e n u e s i s l i a b l e t o t h e d e v e l o pe r . T h e t o t a l o u t s t a n d i n g p r i n c i p a l a m o u n t s s e e n a b o v e d o n o t r e f l e c t a d i r e c t ob l i g a t i o n t o t h e C a r m e l R e d e v e l o p m e n t C o m m i s s i o n . (2 ) A l l c o l l e c t i o n s a r e a l l o c a t e d t o t h e d e v e l o p e r p a y m e n t s w i t h t h e e x c e p t i o n o f t h e T a x a b l e E c o n o m i c D e v e l o p m e n t R e v e n u e B o n d s o f 2 0 1 1 , o n l y 5 0 % o f t h e t o t a l o f t h e i n c r e m e n t g e n e r a t e d i s p l e d g e d t o wa r d s p a y m e n t o f t h e b o n d s . -2 B - Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n An a l y s i s o f A c t u a l S p r i n g a n d E s t i m a t e d F a l l 2 0 1 4 T I F C o l l e c t i o n s Ne t S p r i n g P r o j e c t e d N e t P r o j e c t e d T o t a l N e t G r o s s G r o s s Gr o s s S p r i n g ( A p p e a l s ) N e t S p r i n g L e s s D e v e l o p e r D i s t r i b u t i o n A f t e r P r o j e c t e d F a l l L e s s D e v e l o p e r F a l l D i s b u r s e m e n t P r o j e c t e d 2 0 1 4 P e r c e n t a g e D o l l a r s Ar e a Sp r i n g Fa l l To t a l Di s t r i b u t i o n TI F R e f u n d s Dis t r i b u t i o n Pa s s T h r o u g h Pa s s T h r o u g h Dis b u r s e m e n t * * Pa s s T h r o u g h Re m a i n i n g DistributionVarianceVariance 11 6 t h S t . C e n t r e $ 1 3 3 , 0 9 9 . 2 8 $ 1 3 3 , 0 9 9 . 2 8 $ 2 6 6 , 1 9 8 . 5 5 $ 1 3 3 , 0 9 9 . 2 7 $ 5 . 8 8 $ 1 3 3 , 1 0 5 . 1 5 ( $ 1 3 3 , 1 0 5 . 1 5 ) $ 0 . 0 0 $ 1 3 3 , 0 9 9 . 2 8 ( $ 1 3 3 , 0 9 9 . 2 8 ) $ 0 . 0 0 $ 0 . 0 0 5 0 % $ 1 3 3 , 0 9 9 . 2 8 Am e n d e d I l l i n o i s S t r e e t 7 7 , 5 6 2 . 5 6 7 7 , 5 6 2 . 5 6 1 5 5 , 1 2 5 . 1 1 7 7 , 5 6 2 . 5 5 ( 4 , 4 1 0 . 1 2 ) 7 3 , 1 5 2 . 4 3 0 . 0 0 7 3 , 1 5 2 . 4 3 7 7 , 5 6 2 . 5 6 0 . 0 0 7 7 , 5 6 2 . 5 6 1 5 0 , 7 1 4 . 9 9 5 0 % 7 7 , 5 6 2 . 5 6 Am e n d e d 1 2 6 t h S t r e e t 3 , 9 6 0 , 5 5 6 . 0 3 3 , 9 6 0 , 5 5 6 . 0 3 7 , 9 2 1 , 1 1 2 . 0 6 3 , 9 1 8 , 5 4 2 . 1 2 ( 1 2 2 , 4 5 2 . 5 0 ) 3 , 7 9 6 , 0 8 9 . 6 2 0 . 0 0 3 , 7 9 6 , 0 8 9 . 6 2 4 , 0 0 2 , 5 6 9 . 9 4 0 . 0 0 4 , 0 0 2 , 5 6 9 . 9 4 7 , 7 9 8 , 6 5 9 . 5 6 4 9 % 4 , 0 0 2 , 5 6 9 . 9 4 Ar t s D i s t r i c t L o f t s a n d S h o p p e s 4 3 3 , 3 9 2 . 5 8 4 3 3 , 3 9 2 . 5 8 8 6 6 , 7 8 5 . 1 6 4 3 2 , 6 3 7 . 4 6 8 2 . 7 8 4 3 2 , 7 2 0 . 2 4 ( 4 3 2 , 7 2 0 . 2 4 ) 0 . 0 0 4 3 4 , 1 4 7 . 7 0 ( 4 3 4 , 1 4 7 . 7 0 ) 0 . 0 0 0 . 0 0 5 0 % 4 3 4 , 1 4 7 . 7 0 Ci t y C e n t e r 4 4 6 , 1 7 7 . 7 5 4 4 6 , 1 7 7 . 7 5 8 9 2 , 3 5 5 . 4 9 4 4 1 , 5 1 1 . 1 2 ( 1 1 , 3 5 7 . 9 4 ) 4 3 0 , 1 5 3 . 1 8 0 . 0 0 4 3 0 , 1 5 3 . 1 8 4 5 0 , 8 4 4 . 3 7 0 . 0 0 4 5 0 , 8 4 4 . 3 7 8 8 0 , 9 9 7 . 5 5 4 9 % 4 5 0 , 8 4 4 . 3 7 Do w n t o w n E D A # 1 4 2 8 , 8 4 2 . 2 6 4 2 8 , 8 4 2 . 2 6 8 5 7 , 6 8 4 . 5 1 4 0 3 , 3 2 6 . 1 6 1 4 5 . 1 7 4 0 3 , 4 7 1 . 3 3 0 . 0 0 4 0 3 , 4 7 1 . 3 3 4 5 4 , 3 5 8 . 3 5 0 . 0 0 4 5 4 , 3 5 8 . 3 5 8 5 7 , 8 2 9 . 6 8 4 7 % 4 5 4 , 3 5 8 . 3 5 Do w n t o w n E D A # 2 6 1 , 5 5 3 . 2 8 6 1 , 5 5 3 . 2 8 1 2 3 , 1 0 6 . 5 6 6 1 , 5 5 3 . 2 8 2 4 . 2 4 6 1 , 5 7 7 . 5 2 0 . 0 0 6 1 , 5 7 7 . 5 2 6 1 , 5 5 3 . 2 8 0 . 0 0 6 1 , 5 5 3 . 2 8 1 2 3 , 1 3 0 . 8 0 5 0 % 6 1 , 5 5 3 . 2 8 Ca r m e l D r i v e 7 6 , 1 5 6 . 2 0 7 6 , 1 5 6 . 2 0 1 5 2 , 3 1 2 . 4 0 8 1 , 3 2 6 . 4 1 2 9 . 2 9 8 1 , 3 5 5 . 7 0 0 . 0 0 8 1 , 3 5 5 . 7 0 7 0 , 9 8 5 . 9 9 0 . 0 0 7 0 , 9 8 5 . 9 9 1 5 2 , 3 4 1 . 6 9 5 3 % 7 0 , 9 8 5 . 9 9 Me r c h a n t s S q u a r e 2 6 6 , 3 7 0 . 4 4 2 6 6 , 3 7 0 . 4 4 5 3 2 , 7 4 0 . 8 7 2 3 6 , 4 6 8 . 2 8 ( 6 , 3 8 0 . 4 5 ) 2 3 0 , 0 8 7 . 8 3 0 . 0 0 2 3 0 , 0 8 7 . 8 3 2 9 6 , 2 7 2 . 5 9 0 . 0 0 2 9 6 , 2 7 2 . 5 9 5 2 6 , 3 6 0 . 4 2 4 4 % 2 9 6 , 2 7 2 . 5 9 CR C P a r c e l 1 2 8 9 , 5 4 7 . 3 6 8 9 , 5 4 7 . 3 6 1 7 9 , 0 9 4 . 7 2 8 9 , 5 4 7 . 3 6 3 3 . 9 0 8 9 , 5 8 1 . 2 6 0 . 0 0 8 9 , 5 8 1 . 2 6 8 9 , 5 4 7 . 3 6 0 . 0 0 8 9 , 5 4 7 . 3 6 1 7 9 , 1 2 8 . 6 2 5 0 % 8 9 , 5 4 7 . 3 6 Gr a m e r c y 4 . 1 6 4 . 1 6 8 . 3 2 4 . 1 6 0 . 0 0 4 . 1 6 ( 4 . 1 6 ) 0 . 0 0 4 . 1 6 ( 4 . 1 6 ) 0 . 0 0 0 . 0 0 5 0 % 4 . 1 6 Ha z e l D e l l N o r t h 1 4 6 , 4 6 1 . 2 9 1 4 6 , 4 6 1 . 2 9 2 9 2 , 9 2 2 . 5 8 1 5 7 , 8 9 7 . 0 3 ( 4 6 6 . 8 4 ) 1 5 7 , 4 3 0 . 1 9 0 . 0 0 1 5 7 , 4 3 0 . 1 9 1 3 5 , 0 2 5 . 5 5 0 . 0 0 1 3 5 , 0 2 5 . 5 5 2 9 2 , 4 5 5 . 7 4 5 4 % 1 3 5 , 0 2 5 . 5 5 Ha z e l D e l l S o u t h 4 5 3 , 6 5 0 . 8 7 4 5 3 , 6 5 0 . 8 7 9 0 7 , 3 0 1 . 7 3 5 5 1 , 1 0 4 . 9 3 8 0 . 2 9 5 5 1 , 1 8 5 . 2 2 0 . 0 0 5 5 1 , 1 8 5 . 2 2 3 5 6 , 1 9 6 . 8 0 0 . 0 0 3 5 6 , 1 9 6 . 8 0 9 0 7 , 3 8 2 . 0 2 6 1 % 3 5 6 , 1 9 6 . 8 0 La u t h - W a l k e r 3 1 6 , 9 6 2 . 5 8 3 1 6 , 9 6 2 . 5 8 6 3 3 , 9 2 5 . 1 5 3 1 6 , 9 6 2 . 5 7 ( 7 2 , 8 1 2 . 8 5 ) 2 4 4 , 1 4 9 . 7 2 0 . 0 0 2 4 4 , 1 4 9 . 7 2 3 1 6 , 9 6 2 . 5 8 0 . 0 0 3 1 6 , 9 6 2 . 5 8 5 6 1 , 1 1 2 . 3 0 5 0 % 3 1 6 , 9 6 2 . 5 8 Le g a c y 2 1 3 , 0 1 5 . 8 1 2 1 3 , 0 1 5 . 8 1 4 2 6 , 0 3 1 . 6 2 2 1 4 , 0 4 6 . 5 8 ( 9 , 6 1 7 . 6 0 ) 2 0 4 , 4 2 8 . 9 8 ( 2 0 4 , 4 2 8 . 9 8 ) 0 . 0 0 2 1 1 , 9 8 5 . 0 4 ( 2 1 1 , 9 8 5 . 0 4 ) 0 . 0 0 0 . 0 0 5 0 % 2 1 1 , 9 8 5 . 0 4 Lu r i e 1 1 , 6 2 9 . 7 8 5 , 5 6 9 . 6 4 1 7 , 1 9 9 . 4 1 1 1 , 6 2 9 . 7 8 1 . 1 0 1 1 , 6 3 0 . 8 8 0 . 0 0 1 1 , 6 3 0 . 8 8 5 , 5 6 9 . 6 3 0 . 0 0 5 , 5 6 9 . 6 3 1 7 , 2 0 0 . 5 1 6 8 % 5 , 5 6 9 . 6 3 Me r c h a n t s P o i n t e 1 2 3 , 3 6 0 . 0 6 1 2 3 , 3 6 0 . 0 6 2 4 6 , 7 2 0 . 1 2 1 5 9 , 1 6 0 . 7 6 ( 7 , 1 2 1 . 6 8 ) 1 5 2 , 0 3 9 . 0 8 0 . 0 0 1 5 2 , 0 3 9 . 0 8 8 7 , 5 5 9 . 3 6 0 . 0 0 8 7 , 5 5 9 . 3 6 2 3 9 , 5 9 8 . 4 4 6 5 % 8 7 , 5 5 9 . 3 6 Me r i d i a n & M a i n 7 4 , 8 5 6 . 5 8 7 4 , 8 5 6 . 5 8 1 4 9 , 7 1 3 . 1 5 7 4 , 8 5 6 . 5 8 0 . 0 0 7 4 , 8 5 6 . 5 8 ( 3 7 , 4 2 1 . 9 9 ) 3 7 , 4 3 4 . 5 9 7 4 , 8 5 6 . 5 7 ( 3 7 , 4 2 1 . 9 9 ) 3 7 , 4 3 4 . 5 8 7 4 , 8 6 9 . 1 7 5 0 % 7 4 , 8 5 6 . 5 7 Na t i o n a l C i t y T T A 1 , 7 3 7 . 4 2 1 , 7 3 7 . 4 2 3 , 4 7 4 . 8 3 1 , 7 3 7 . 4 3 0 . 6 6 1 , 7 3 8 . 0 9 0 . 0 0 1 , 7 3 8 . 0 9 1 , 7 3 7 . 4 0 0 . 0 0 1 , 7 3 7 . 4 0 3 , 4 7 5 . 4 9 5 0 % 1 , 7 3 7 . 4 0 No r t h I l l i n o i s S t r e e t 1 , 9 5 0 , 6 1 7 . 8 0 1 , 9 5 0 , 6 1 7 . 8 0 3 , 9 0 1 , 2 3 5 . 6 0 1 , 9 6 4 , 3 8 8 . 0 7 6 8 8 . 3 9 1 , 9 6 5 , 0 7 6 . 4 6 0 . 0 0 1 , 9 6 5 , 0 7 6 . 4 6 1 , 9 3 6 , 8 4 7 . 5 3 0 . 0 0 1 , 9 3 6 , 8 4 7 . 5 3 3 , 9 0 1 , 9 2 3 . 9 9 5 0 % 1 , 9 3 6 , 8 4 7 . 5 3 Ol d M e r i d i a n 3 0 0 , 5 2 5 . 7 2 3 0 0 , 5 2 5 . 7 2 6 0 1 , 0 5 1 . 4 4 3 0 4 , 5 8 6 . 3 7 ( 8 , 8 7 7 . 6 9 ) 2 9 5 , 7 0 8 . 6 8 0 . 0 0 2 9 5 , 7 0 8 . 6 8 2 9 6 , 4 6 5 . 0 7 0 . 0 0 2 9 6 , 4 6 5 . 0 7 5 9 2 , 1 7 3 . 7 5 5 1 % 2 9 6 , 4 6 5 . 0 7 Ol d M e t h o d i s t 5 8 2 . 1 1 5 8 2 . 1 1 1 , 1 6 4 . 2 1 5 8 4 . 9 2 0 . 2 2 5 8 5 . 1 4 0 . 0 0 5 8 5 . 1 4 5 7 9 . 2 9 0 . 0 0 5 7 9 . 2 9 1 , 1 6 4 . 4 3 5 0 % 5 7 9 . 2 9 Ol d T o w n 1 0 9 , 0 6 0 . 9 3 1 0 9 , 0 6 0 . 9 3 2 1 8 , 1 2 1 . 8 6 1 0 9 , 0 6 0 . 9 3 4 2 . 2 0 1 0 9 , 1 0 3 . 1 3 0 . 0 0 1 0 9 , 1 0 3 . 1 3 1 0 9 , 0 6 0 . 9 3 0 . 0 0 1 0 9 , 0 6 0 . 9 3 2 1 8 , 1 6 4 . 0 6 5 0 % 1 0 9 , 0 6 0 . 9 3 Ol d T o w n S h o p p e s 4 6 , 8 1 2 . 3 5 4 6 , 8 1 2 . 3 5 9 3 , 6 2 4 . 7 0 4 6 , 8 1 2 . 3 5 ( 1 8 3 . 9 6 ) 4 6 , 6 2 8 . 3 9 0 . 0 0 4 6 , 6 2 8 . 3 9 4 6 , 8 1 2 . 3 5 0 . 0 0 4 6 , 8 1 2 . 3 5 9 3 , 4 4 0 . 7 4 5 0 % 4 6 , 8 1 2 . 3 5 Pa r k w o o d C r o s s i n g 6 6 6 , 8 3 8 . 3 9 6 6 6 , 8 3 8 . 3 9 1 , 3 3 3 , 6 7 6 . 7 8 6 5 1 , 7 2 9 . 6 4 ( 1 0 , 7 2 1 . 9 4 ) 6 4 1 , 0 0 7 . 7 0 ( 6 4 1 , 0 0 7 . 7 0 ) 0 . 0 0 6 8 1 , 9 4 7 . 1 4 ( 6 8 1 , 9 4 7 . 1 4 ) 0 . 0 0 0 . 0 0 4 9 % 6 8 1 , 9 4 7 . 1 4 Pa r k w o o d E a s t 4 2 2 , 3 3 2 . 5 2 4 2 2 , 3 3 2 . 5 2 8 4 4 , 6 6 5 . 0 4 4 2 2 , 3 3 2 . 5 2 1 5 9 . 6 6 4 2 2 , 4 9 2 . 1 8 ( 4 2 2 , 4 9 2 . 1 8 ) 0 . 0 0 4 2 2 , 3 3 2 . 5 2 ( 4 2 2 , 3 3 2 . 5 2 ) 0 . 0 0 0 . 0 0 5 0 % 4 2 2 , 3 3 2 . 5 2 We s t C l a y * * * 2 8 2 , 4 2 4 . 9 6 28 2 , 4 2 4 . 9 6 56 4 , 8 4 9 . 9 2 78 , 3 5 0 . 5 5 (1 4 , 4 5 8 . 6 0 ) 63 , 8 9 1 . 9 5 0.0 0 63 , 8 9 1 . 9 5 48 6 , 4 9 9 . 3 7 0.0 0 48 6 , 4 9 9 . 3 7 550,391.3214%486,499.37 $1 1 , 0 9 4 , 1 3 1 . 0 2 ## # # # # # # # # # # # $2 2 , 1 8 2 , 2 0 1 . 8 9 $1 0 , 9 4 0 , 8 1 9 . 1 8 ($ 2 6 7 , 5 6 8 . 3 9 ) $1 0 , 6 7 3 , 2 5 0 . 7 9 ($ 1 , 8 7 1 , 1 8 0 . 4 0 ) $8 , 8 0 2 , 0 7 0 . 3 9 $1 1 , 2 4 1 , 3 8 2 . 7 1 ($ 1 , 9 2 0 , 9 3 7 . 8 3 ) $9 , 3 2 0 , 4 4 4 . 8 8 $18,122,515.2749.32%$11,241,382.71 Re f e r e n c e A B C D E F G H I J K L M N Ca l c u l a t i o n A+ B D+ E F+ G C- D I+ J H+KD/CC-D Co u n t y E s t i m a t e s * *C o u n t y E s t i m a t e s a r e p e r t h e H a m i l t o n C o u n t y 2 0 1 3 P a y 2 0 1 4 T I F B i l l i n g R e p o r t . T h e t o t a l a m o u n t r e p r e s e n t s t h e t o t a l a c t u a l p r o p e r t y t a x e s b i l l e d i n e a c h T I F A r e a . T h e s p r i n g a n d f a l l e s t i m a t e s a r e o ne - h a l f o f t h e t o t a l p r o p e r t y t a x b i l l e d i n t h a t T I F A r e a . T h e e s t i m a t e sh o w n i s n e t o f t h e e s t i m a t e d s c h o o l r e f e r e n d u m i m p a c t . ** T o t a l d i s t r i b u t i o n r e m a i n i n g i s b a s e d u p o n 1 0 0 % c o l l e c t i o n s , n e t o f t h e e s t i m a t e d r e f e r e n d u m , a n d d o e s n o t t a k e a p p e a l s ( F a l l 2 0 1 4 ) i n t o a c c o u n t A- 1 Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n An a l y s i s o f J u n e 2 0 1 4 T I F C o l l e c t i o n s a n d D i s b u r s e m e n t s Re f e r e n c e A B C D E F G H I J K Reference 1 De c e m b e r 2 0 1 3 Ju n e 2 0 1 4 Sp r i n g D e v e l o p e r Bo n d / L e a s e Ju n e 2 0 1 4 Re f u n d i n g PA C COIT 1 2 Ar e a Di s t r i b u t i o n Di s t r i b u t i o n Pa y m e n t s Pa y m e n t s ( 1 ) Su b t o t a l Bo n d s ( 2 ) CO P S C ( 3 ) Le a s e ( 4 ) Payment (5)Remaining2 3 11 6 t h S t . C e n t r e 15 , 3 1 7 . 2 5 13 3 , 1 0 5 . 1 5 ($ 1 3 3 , 1 0 5 . 1 5 ) $0 . 0 0 $0 . 0 0 $0 . 0 0 $0 . 0 0 $0.00$0.003 4 Am e n d e d I l l i n o i s S t r e e t 43 , 1 6 1 . 4 6 73 , 1 5 2 . 4 3 73 , 1 5 2 . 4 3 (4 1 , 1 3 0 . 4 6 ) (6 , 0 8 2 . 2 3 ) (2 0 , 7 3 4 . 4 5 ) (4,312.80)$892.494 5 Am e n d e d 1 2 6 t h S t r e e t 3, 6 8 1 , 8 2 7 . 1 5 3, 7 9 6 , 0 8 9 . 6 2 3, 7 9 6 , 0 8 9 . 6 2 (2 , 1 3 4 , 3 7 7 . 7 1 ) (3 1 5 , 6 2 4 . 3 4 ) (1 , 0 7 5 , 9 7 0 . 4 0 ) (223,803.46)46,313.725 6 Ar t s D i s t r i c t L o f t s a n d S h o p p e s 45 4 , 3 4 8 . 0 5 43 2 , 7 2 0 . 2 4 ($ 4 3 2 , 7 2 0 . 2 4 ) 0. 0 0 0.0 0 0.0 0 0.0 0 0.000.006 7 Ci t y C e n t e r 45 8 , 2 6 8 . 6 7 43 0 , 1 5 3 . 1 8 43 0 , 1 5 3 . 1 8 (2 4 1 , 8 5 6 . 6 1 ) (3 5 , 7 6 4 . 9 1 ) (1 2 1 , 9 2 3 . 3 8 ) (25,360.25)5,248.037 8 Do w n t o w n E D A # 1 37 0 , 2 6 1 . 2 3 40 3 , 4 7 1 . 3 3 40 3 , 4 7 1 . 3 3 (2 2 6 , 8 5 4 . 5 5 ) (3 3 , 5 4 6 . 4 6 ) (1 1 4 , 3 6 0 . 6 3 ) (23,787.18)4,922.508 9 Do w n t o w n E D A # 2 63 , 2 7 4 . 9 6 61 , 5 7 7 . 5 2 61 , 5 7 7 . 5 2 (3 4 , 6 2 2 . 3 9 ) (5 , 1 1 9 . 8 4 ) (1 7 , 4 5 3 . 6 4 ) (3,630.38)751.279 10 Ca r m e l D r i v e 71 , 2 8 2 . 6 4 81 , 3 5 5 . 7 0 81 , 3 5 5 . 7 0 (4 5 , 7 4 2 . 8 1 ) (6 , 7 6 4 . 2 9 ) (2 3 , 0 5 9 . 6 0 ) (4,796.43)992.5710 11 Me r c h a n t s S q u a r e 24 3 , 9 0 2 . 5 5 23 0 , 0 8 7 . 8 3 23 0 , 0 8 7 . 8 3 (1 2 9 , 3 6 8 . 4 8 ) (1 9 , 1 3 0 . 5 6 ) (6 5 , 2 1 6 . 5 0 ) (13,565.13)2,807.1611 12 CR C P a r c e l 1 2 88 , 4 4 2 . 5 0 89 , 5 8 1 . 2 6 89 , 5 8 1 . 2 6 (5 0 , 3 6 7 . 6 8 ) (7 , 4 4 8 . 2 0 ) (2 5 , 3 9 1 . 0 7 ) (5,281.38)1,092.9212 13 Gr a m e r c y 4.2 2 4. 1 6 (4 . 1 6 ) 0. 0 0 0.0 0 0.0 0 0.0 0 0.000.0013 14 Ha z e l D e l l N o r t h 12 6 , 8 6 8 . 2 6 15 7 , 4 3 0 . 1 9 15 7 , 4 3 0 . 1 9 (8 8 , 5 1 6 . 2 2 ) (1 3 , 0 8 9 . 4 7 ) (4 4 , 6 2 2 . 2 9 ) (9,281.50)1,920.7114 15 Ha z e l D e l l S o u t h 42 1 , 9 3 5 . 3 1 55 1 , 1 8 5 . 2 2 55 1 , 1 8 5 . 2 2 (3 0 9 , 9 0 7 . 7 1 ) (4 5 , 8 2 8 . 0 7 ) (1 5 6 , 2 2 8 . 9 2 ) (32,495.85)6,724.6715 16 La u t h - W a l k e r 32 3 , 3 7 2 . 9 2 24 4 , 1 4 9 . 7 2 24 4 , 1 4 9 . 7 2 (1 3 7 , 2 7 4 . 8 7 ) (2 0 , 2 9 9 . 7 3 ) (6 9 , 2 0 2 . 2 3 ) (14,394.17)2,978.7216 17 Le g a c y 63 , 9 4 5 . 4 0 20 4 , 4 2 8 . 9 8 (2 0 4 , 4 2 8 . 9 8 ) 0. 0 0 0.0 0 0.0 0 0.0 0 0.000.0017 18 Lu r i e 0.0 0 11 , 6 3 0 . 8 8 11 , 6 3 0 . 8 8 (6 , 5 3 9 . 5 4 ) (9 6 7 . 0 4 ) (3 , 2 9 6 . 6 8 ) (685.71)141.9018 19 Me r c h a n t s P o i n t e 12 1 , 2 9 9 . 2 6 15 2 , 0 3 9 . 0 8 15 2 , 0 3 9 . 0 8 (8 5 , 4 8 5 . 0 3 ) (1 2 , 6 4 1 . 2 3 ) (4 3 , 0 9 4 . 2 3 ) (8,963.66)1,854.9319 20 Me r i d i a n & M a i n 99 , 6 0 8 . 8 3 74 , 8 5 6 . 5 8 (3 7 , 4 2 1 . 9 9 ) 37 , 4 3 4 . 5 9 (2 1 , 0 4 7 . 8 6 ) (3 , 1 1 2 . 4 8 ) (1 0 , 6 1 0 . 5 3 ) (2,207.01)456.7220 21 Na t i o n a l C i t y T T A 1, 7 5 3 . 5 3 1, 7 3 8 . 0 9 1,7 3 8 . 0 9 (9 7 7 . 2 5 ) (1 4 4 . 5 1 ) (4 9 2 . 6 5 ) (102.47)21.2121 22 No r t h I l l i n o i s S t r e e t 1, 8 8 2 , 6 8 1 . 0 1 1, 9 6 5 , 0 7 6 . 4 6 (5 8 8 , 7 4 3 . 4 7 ) 1, 3 7 6 , 3 3 2 . 9 9 (7 7 3 , 8 5 2 . 7 7 ) (1 1 4 , 4 3 4 . 6 5 ) (3 9 0 , 1 1 0 . 2 7 ) (81,143.52)16,791.7822 23 Ol d M e r i d i a n 19 4 , 6 1 3 . 2 6 29 5 , 7 0 8 . 6 8 29 5 , 7 0 8 . 6 8 (1 6 6 , 2 6 4 . 2 6 ) (2 4 , 5 8 6 . 5 8 ) (8 3 , 8 1 6 . 1 9 ) (17,433.89)3,607.7623 24 Ol d M e t h o d i s t 58 4 . 4 5 58 5 . 1 4 58 5 . 1 4 (3 2 9 . 0 0 ) (4 8 . 6 5 ) (1 6 5 . 8 5 ) (34.50)7.1424 25 Ol d T o w n 11 0 , 1 4 4 . 1 3 10 9 , 1 0 3 . 1 3 10 9 , 1 0 3 . 1 3 (6 1 , 3 4 3 . 9 9 ) (9 , 0 7 1 . 3 4 ) (3 0 , 9 2 4 . 3 9 ) (6,432.32)1,331.1025 26 Ol d T o w n S h o p p e s 46 , 8 8 8 . 7 7 46 , 6 2 8 . 3 9 46 , 6 2 8 . 3 9 (2 6 , 2 1 7 . 1 4 ) (3 , 8 7 6 . 9 0 ) (1 3 , 2 1 6 . 4 3 ) (2,749.04)568.8826 27 Pa r k w o o d C r o s s i n g 62 7 , 3 1 4 . 7 9 64 1 , 0 0 7 . 7 0 (6 4 1 , 0 0 7 . 7 0 ) 0. 0 0 0.0 0 0.0 0 0.0 0 0.000.0027 28 Pa r k w o o d E a s t 41 6 , 7 5 4 . 0 0 42 2 , 4 9 2 . 1 8 (4 2 2 , 4 9 2 . 1 8 ) 0. 0 0 0.0 0 0.0 0 0.0 0 0.000.0028 29 We s t C l a y ( 6 ) 28 3 , 3 7 8 . 1 0 63 , 8 9 1 . 9 5 63 , 8 9 1 . 9 5 (3 5 , 9 2 3 . 6 9 ) (5 , 3 1 2 . 2 7 ) (1 8 , 1 0 9 . 6 5 ) (3,766.83)779.5129 30 To t a l s $1 0 , 2 1 1 , 2 3 2 . 7 0 $1 0 , 6 7 3 , 2 5 0 . 7 9 (1 , 8 7 1 , 1 8 0 . 4 0 ) (5 8 8 , 7 4 3 . 4 7 ) $8 , 2 1 3 , 3 2 6 . 9 2 ($ 4 , 6 1 8 , 0 0 0 . 0 0 ) ($ 6 8 2 , 8 9 3 . 7 5 ) ($ 2 , 3 2 8 , 0 0 0 . 0 0 ) ($484,227.50)$100,205.6730 31 A B C D31 32 Fir s t T i e r Se c o n d T i e r 32 33 33 34 34 35 Fi r s t T i e r ( A ) / S u b t o t a l 1 . 7 8 35 36 Se c o n d T i e r ( A a n d B ) / S u b t o t a l 1 . 5 5 36 37 Th i r d T i e r ( A , B , C , D ) / S u b t o t a l 1.0137 38 (2 ) S e m i a n n u a l p a y m e n t $ 4 , 6 1 8 , 0 0 0 . 0 0 ( d u e t o b e p a i d b y 7 / 1 5 / 1 4 ) f o r t h e L e a s e R e n t a l R e v e n u e M u l t i p u r p o s e B o n d s , S e r i e s 2 0 1 2 A & B 38 39 39 40 (3 ) S e m i a n n u a l p a y m e n t $ 6 8 2 , 8 9 3 . 7 5 ( d u e t o b e p a i d b y 7 / 1 5 / 1 4 ) f o r t h e C e r t i f i c a t i o n s o f P a r t i c i p a t i o n , S e r i e s C 40 41 41 42 (4 ) S e m i A n n u a l l e a s e p a y m e n t $ 2 , 3 2 8 , 0 0 0 ( d u e a n d s c h e d u l e d t o b e p a i d b y 7 / 1 / 1 4 ) f o r t h e L e a s e R e n t a l R e v e n u e B o n d s o f 2 0 1 4 ( P e r f o r m i n g A r t s C e n t e r ) 42 43 43 44 (5 ) S e m i a n n u a l b o n d p a y m e n t $ 4 8 4 , 2 2 7 . 5 0 ( d u e a n d s c h e d u l e d t o b e p a i d b y 6 / 1 5 / 1 4 ) f o r t h e C O I T R e v e n u e r e f u n d i n g B o n d s , S e r i e s 2 0 0 6 ( 1 9 9 8 C i t y C e n t e r , R e f u n d e d i n 2 0 0 6 ) 44 45 45 46 (6 ) L o w J u n e 2 0 1 4 c o l l e c t i o n i s d u e t o a l a t e p a y m e n t m a d e b y S t r a t f o r d R e t i r e m e n t , L L C o n M a y 2 0 , 2 0 1 4 . T h e l a t e p a y m e n t w i l l b e d i s t r i b u t e d t o t h e C R C i n t h e D e c e m b e r 2 0 1 4 d i s t r i b u t i o n . 46 47 47 48 48 49 49 50 50 51 51 52 52 De b t S e r v i c e C o v e r a g e (1 ) S e m i a n n u a l b o n d p a y m e n t s $ 4 5 4 , 2 8 3 . 7 5 a n d $ 1 3 4 , 4 5 9 . 7 2 ( d u e a n d s c h e d u l e d t o b e p a i d b y 7 / 1 5 / 1 4 ) f o r t h e T a x I n c r e m e n t R e v e n u e B o n d s o f 2 0 0 4 A ( C l a r i a n H o s p i t a l - I l l i n o i s St r e e t P r o j e c t ) a n d R e d e v e l o p m e n t D i s t r i c t B o n d s o f 2 0 1 3 ( I l l i n o i s S t r e e t P r o j e c t ) Th i r d T i e r A - 2