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HomeMy WebLinkAbout012315 CRC Financial 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 D e c e m b e r 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 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 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 12/31/14 Reference B C D E F G 1 ActualActual Amended % CompleteVariance ofRevised Budget 2 November December Total Approved Approved 3 Projections Budget6/18/2014 4 BEGINNING BALANCE WITHOUT RESTRICTED FUNDS $1,325,291$1,182,810 5 6 RESTRICTED FUNDS BALANCE 7Energy Center Consumption Reserve Balance 500,000500,000 500,000 500,000 8Interest for Energy Center Consumption Reserve 1,7491,760 1,749 9Parcel 7C Tenant Rent Reserve Balance 800,000800,000 800,000 800,000 10Interest for Parcel 7C Tenant Rent Reserve 1,8511,870 1,851 11Supplemental Reserve Fund Balance 1,220,848 2,526,168 2,526,168 1,119,000 12Interest for Supplemental Reserve Fund 205 264 205 13 Total Restricted Funds Balance 2,524,653 3,830,063 3,829,973 2,419,000 14 15 BEGINNING BALANCE WITH RESTRICTED FUNDS 3,849,9445,012,872 16 17 TRANSFERS FROM RESTRICTED FUNDS 18Transfer from Energy Center Consumption Reserve 500,000 500,000 19Transfer from Parcel 7C Tenant Rent Reserve 200,000 200,000 20 Total Transfers From Restricted Funds 700,000 700,000 21 22 RECEIPTS - TIF 23Interest 1 1 607 289%397 210 24Net Increment 25TIF Revenue, Net of Developer Pass Through 08,960,287 17,766,140 101%17,532,007 26One-time Merchants Square Bond Defeasance Funds 00 565,281 100%0 565,281 27Nash PIATT Payments (December 2013 and June 2014)047,136 123,358 162%47,137 76,221 28Village Financial Secondary IPC 00 (142,409) 52%(276,210) 292006 COIT Refunding Bond 0(479,534)(963,761) 100%(963,761) 30Certificates of Participation, Series 2010C (Energy Center)0(682,575)(2,048,538) 100%(2,048,538) 31Illinois Street Bond 0(456,470)(1,367,685) 100%(1,367,685) 322013 Illinois Street Bond 0(110,013)(244,472) 100%(244,472) 332005 PAC Lease 0(2,328,000)(4,656,000) 100%(4,656,000) 342012 Lease 0(4,622,000)(13,126,000) 100%(13,126,000) 35 Net Increment after Debt Service and Developer Pass Through 1 328,833 (4,093,479) 91%(4,509,157) 36 TOTAL RECEIPTS - TIF 1328,833 (4,093,479) (4,509,157) 37 38 RECEIPTS - NON TIF 39Interest 33 116 788 286%512 276 40Energy Payments 26,92226,922 323,060 100%323,060 412013 and 2014 REI Energy Payments 10,4620 167,384 155%59,485 107,899 424CDC Grants 0131,157 338,000 100%337,909 43Civic Rent 0225,000 225,000 113%200,000 44Keystone Group, LLC Receivable (Bond Enhancement) 201300 172,753 100%0 172,753 45Keystone Group, LLC Receivable (Bond Enhancement) 201400 - 0%200,000 46Sale of Buildings - Projected 00 1,019,885 102%19,885 1,000,000 47 Miscellaneous Receipts 1,400 4,350,000 4,493,579 0%0 48 TOTAL RECEIPTS - NON TIF 38,816 4,733,195 6,740,448 288%2,341,897 49 TOTAL RECEIPTS 38,817 5,062,028 2,646,96950 51 EXPENDITURES - TIF 52Construction 53Palladium Construction/Retention and Legal 62,164480,463 1,562,370 142%1,100,000 54Contingency Fund 00 590,000 100%0590,000 55Parcel 73 Streetscape Site Engineering 00 5,491 110%(480)5,011 56Mezz Building Site Engineering 00 8,888 84%10,624 573rd Avenue and Monon Connecting Path Engineering1,0100 7,042 28%24,900 58Monon Trail Work Engineering 1,0180 8,187 33%24,900 59Park Work at Monon Engineering 1,3050 1,305 5%24,900 60Duke Relocation at Pedcor Engineering 00 2,900 33%8,900 61Parcel 73 Streetscape 0196,333 196,333 196%100,000 62Miscellaneous Construction 00 - 0%20,000 63City Center Electric Utility Relocation & Expansion 00 - 0%250,000 64Mezz Building Site Construction 029,931 29,931 10%310,000 65Project Professional Fees 66Legal Fees 110,22550,904 368,546 189%(173,546) 195,000 67Architecture/Engineering Fees 3252,657 2,983 30%10,000 68Accounting Fees 5,251130,530 216,162 240%90,000 69Miscellaneous Professional Fees 00 - 0%20,000 70Bond and Trustee Fees 02,500 28,843 77%37,684 71 Transfer to Supplemental Reserve Fund 201,022 785,481 70%1,119,000 72 TOTAL EXPENDITURES - TIF 181,298 1,094,340 3,814,461 97%3,940,919 73 74 EXPENDITURES - NON TIF 75Projected Reimbursement of Department Expenses 00 - 0%104,246 76Sophia Square Garage Expenses (2013)0119,441 428,975 139%(119,441)309,534 77 Miscellaneous Expenditures 0 588 30,686 84%36,707 78 TOTAL EXPENDITURES - NON TIF 0 120,029 459,661 102%450,487 79 TOTAL EXPENDITURES 181,298 1,214,370 4,274,122 80 81 ENDING BALANCE WITHOUT RESTRICTED FUNDS 1,182,810 5,030,468 $5,030,468 $99,165 82 ENDING BALANCE WITH RESTRICTED FUNDS $3,707,462 $8,860,531 $8,860,442 $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 D e c e m b e r 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 - T I F 4 5 In t e r e s t $0 $1 $1 $0 21 0 $2 1 0 $608($398)289.37%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 8, 9 6 0 , 2 8 7 8, 9 6 0 , 2 8 7 0 19 , 2 4 0 , 4 4 0 (1 , 7 0 8 , 4 3 3 ) 17 , 5 3 2 , 0 0 7 17 , 7 6 6 , 1 4 1 ($234,134)101.34%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 1 565,2810100.00%7 8 N a 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 4 7 , 1 3 6 4 7 , 1 3 6 Na s h P I A T T p a y m e n t s a r e n o t b u d g e t e d 0 7 6 , 2 2 1 7 6 , 2 2 1 1 2 3 , 3 5 7 (47,136)161.84%8 9 V i 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 ( 9 6 , 2 5 0 ) 0 9 6 , 2 5 0 Th i s p a y m e n t w i l l n o t b e m a d e u n t i l Ja n u a r y (2 7 6 , 2 1 0 ) 0 (2 7 6 , 2 1 0 ) ( 1 4 2 , 4 0 9 ) ( 1 3 3 , 8 0 1 ) 51.56%9 10 20 0 6 C O I T R e f u n d i n g B o n d (4 7 9 , 5 3 4 ) (4 7 9 , 5 3 4 ) 0 (9 6 3 , 7 6 1 ) 0 (9 6 3 , 7 6 1 ) (963,762)1100.00%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 , 5 7 5 ) (6 8 2 , 5 7 5 ) 0 (2 , 0 4 8 , 5 3 8 ) 0 (2 , 0 4 8 , 5 3 8 ) (2 , 0 4 8 , 5 3 8 ) 0100.00%11 12 Il l i n o i s S t r e e t B o n d (4 5 6 , 4 7 0 ) (4 5 6 , 4 7 0 ) 0 (1 , 5 6 4 , 2 5 1 ) 19 6 , 5 6 6 (1 , 3 6 7 , 6 8 5 ) (1 , 3 6 7 , 6 8 5 ) 0100.00%12 13 20 1 3 I l l i n o i s S t r e e t B o n d (1 1 0 , 0 1 3 ) (1 1 0 , 0 1 3 ) 0 (2 4 4 , 4 7 2 ) 0 (2 4 4 , 4 7 2 ) (244,473)1100.00%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 ) (4 , 6 5 6 , 0 0 0 ) 0100.00%14 15 20 1 2 L e a s e (4 , 6 2 2 , 0 0 0 ) (4 , 6 2 2 , 0 0 0 ) 0 (1 3 , 1 2 6 , 0 0 0 ) 0 (1 3 , 1 2 6 , 0 0 0 ) (1 3 , 1 2 6 , 0 0 0 ) 0100.00%15 16 TO T A L R E C E I P T S - T I F 18 5 , 4 4 5 32 8 , 8 3 2 14 3 , 3 8 7 (4 , 2 4 4 , 7 9 2 ) (2 6 4 , 1 5 5 ) (4 , 5 0 8 , 9 4 7 ) (4 , 0 9 3 , 4 8 0 ) (415,467)90.79%16 17 17 18 RE C E I P T S - N O N T I F 18 19 In t e r e s t 0 11 6 11 6 0 27 6 27 6 789(513)285.77%19 20 En e r g y P a y m e n t s 26 , 9 2 2 26 , 9 2 2 0 32 3 , 0 6 0 0 32 3 , 0 6 0 323,062(2)100.00%20 21 20 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 0 0 0 10 7 , 8 9 9 10 7 , 8 9 9 167,385(59,486)155.13%21 22 4C D C G r a n t s 13 1 , 0 6 6 13 1 , 1 5 7 91 40 0 , 0 0 0 (6 2 , 0 9 1 ) 33 7 , 9 0 9 338,000(91)100.03%22 23 Ci v i c R e n t 22 5 , 0 0 0 22 5 , 0 0 0 0 20 0 , 0 0 0 0 20 0 , 0 0 0 225,000(25,000)112.50%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 0 0 0 20 0 , 0 0 0 (2 7 , 2 4 7 ) 17 2 , 7 5 3 172,7530100.00%24 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 20 0 , 0 0 0 0 (2 0 0 , 0 0 0 ) Th i s p a y m e n t w i l l n o t b e r e c e i v e d u n t i l Ja n u a r y 20 0 , 0 0 0 0 2 0 0 , 0 0 0 0 2 0 0 , 0 0 0 0 . 0 0 % 2 5 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 1,019,885(19,885)101.99%26 27 Mi s c e l l a n e o u s R e c e i p t s 4, 3 5 0 , 0 0 0 4, 3 5 0 , 0 0 0 0 0 0 0 4,493,579(4,493,579)0.00%27 28 TO T A L R E C E I P T S - N O N T I F 4, 9 3 2 , 9 8 8 4, 7 3 3 , 1 9 5 (1 9 9 , 7 9 3 ) 1, 3 2 3 , 0 6 0 1, 0 1 8 , 8 3 7 2, 3 4 1 , 8 9 7 6,740,453(4,398,556)287.82%28 29 TO T A L R E V E N U E S $5 , 1 1 8 , 4 3 3 $5 , 0 6 2 , 0 2 7 ($ 5 6 , 4 0 6 ) ($ 2 , 9 2 1 , 7 3 2 ) $7 5 4 , 6 8 2 ($ 2 , 1 6 7 , 0 5 0 ) $2 , 6 4 6 , 9 7 3 ($4,814,023)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 D e c e m b e r 3 1 , 2 0 1 4 Re f e r e n c e B C D E F G H I JKReference 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 YT D $ Remaining% YTD 3 4 EX P E N D I T U R E S : T I F 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 3 4 0 , 6 0 8 4 8 0 , 4 6 3 ($ 1 3 9 , 8 5 5 ) Di f f e r e n c e i s s e v e r a l in v o i c e s t h a t w e r e a d d e d to t h e a p p r o v a l s h e e t s af t e r t h e f o r e c a s t w a s ma d e $9 0 0 , 0 0 0 $ 2 0 0 , 0 0 0 $ 1 , 1 0 0 , 0 0 0 $ 1 , 5 6 2 , 3 6 8 ($462,368)142.03%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 59 0 , 0 0 0 0100.00%7 8 Pa 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 0 0 0 5, 0 1 1 $0 5, 0 1 1 5, 4 9 1 (480)109.58%8 9 Me 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 0 0 0 10 , 6 2 4 $0 10 , 6 2 4 8, 8 8 8 1,73683.66%9 10 3r 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 0 0 0 0 $2 4 , 9 0 0 24 , 9 0 0 7, 0 4 2 17,85828.28%10 11 Mo n o n T r a i l W o r k E n g i n e e r i n g 0 0 0 0 $2 4 , 9 0 0 24 , 9 0 0 8, 1 8 8 16,71232.88%11 12 Pa r k W o r k a t M o n o n E n g i n e e r i n g 0 0 0 0 $2 4 , 9 0 0 24 , 9 0 0 1, 3 0 5 23,5955.24%12 13 Du 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 0 0 0 0 $8 , 9 0 0 8, 9 0 0 2, 9 0 0 6,00032.58%13 14 Pa r c e l 7 3 S t r e e t s c a p e 19 6 , 3 3 3 19 6 , 3 3 3 0 30 0 , 0 0 0 ($ 2 0 0 , 0 0 0 ) 10 0 , 0 0 0 19 6 , 3 3 3 (96,333)196.33%14 15 Mi s c e l l a n e o u s C o n s t r u c t i o n 0 0 0 20 , 0 0 0 $0 20 , 0 0 0 0 20,0000.00%15 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 $0 25 0 , 0 0 0 0 250,0000.00%16 17 Me z z B u i l d i n g S i t e C o n s t r u c t i o n 29 , 9 3 1 29 , 9 3 1 0 50 0 , 0 0 0 ($ 1 9 0 , 0 0 0 ) 31 0 , 0 0 0 29 , 9 3 1 280,0699.66%17 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 36 , 9 9 8 5 0 , 9 0 4 (1 3 , 9 0 6 ) Di f f e r e n c e i s s e v e r a l in v o i c e s t h a t w e r e a d d e d to t h e a p p r o v a l s h e e t s af t e r t h e f o r e c a s t w a s ma d e 19 5 , 0 0 0 0 1 9 5 , 0 0 0 3 6 8 , 5 4 7 (173,547)189.00%19 20 Ar c h / E n g i n e e r i n g 2, 6 5 7 2, 6 5 7 0 40 , 0 0 0 (3 0 , 0 0 0 ) 10 , 0 0 0 2, 9 8 2 7,01829.82%20 21 A c c o u n t i n g F e e s 3, 8 6 0 1 3 0 , 5 3 0 (1 2 6 , 6 7 0 ) Di f f e r e n c e i s s e v e r a l in v o i c e s t h a t w e r e a d d e d to t h e a p p r o v a l s h e e t s af t e r t h e f o r e c a s t w a s ma d e 10 0 , 0 0 0 (1 0 , 0 0 0 ) 90 , 0 0 0 2 1 6 , 1 6 4 (126,164)240.18%21 22 Mi 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 0 0 0 25 , 0 0 0 (5 , 0 0 0 ) 20 , 0 0 0 0 20,0000.00%22 23 Bo n d a n d T r u s t e e F e e s 3, 1 9 4 2, 5 0 0 69 4 34 , 0 8 4 3, 6 0 0 37 , 6 8 4 28 , 8 4 3 8,84176.54%23 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 20 1 , 0 2 2 20 1 , 0 2 2 0 0 1, 1 1 9 , 0 0 0 1, 1 1 9 , 0 0 0 78 5 , 4 8 1 333,51970.19%24 25 TO T A L E X P E N D I T U R E S - T I F 81 4 , 6 0 3 1, 0 9 4 , 3 4 0 (2 7 9 , 7 3 7 ) 2, 9 6 9 , 7 1 9 97 1 , 2 0 0 3, 9 4 0 , 9 1 9 3, 8 1 4 , 4 6 3 126,45696.79%25 26 26 27 EX P E N D I T U R E S : N O N T I F 27 28 P r 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 4 8 , 8 1 7 0 4 8 , 8 1 7 Th i s r e i m b u r s e m e n t t o th e C i t y w i l l b e m a d e i n Ja n u a r y 38 3 , 1 7 8 (2 7 8 , 9 3 2 ) 10 4 , 2 4 6 0 1 0 4 , 2 4 6 0 . 0 0 % 2 8 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 11 9 , 4 4 1 11 9 , 4 4 1 0 0 30 9 , 5 3 4 30 9 , 5 3 4 42 8 , 9 7 4 (119,440)138.59%29 30 Mi s c e l l a n e o u s E x p e n d i t u r e s 58 8 58 8 0 51 , 6 0 7 (1 4 , 9 0 0 ) 36 , 7 0 7 30 , 6 8 6 6,02183.60%30 31 TO T A L E X P E N D I T U R E S - N O N T I F 16 8 , 8 4 6 12 0 , 0 2 9 48 , 8 1 7 43 4 , 7 8 5 15 , 7 0 2 45 0 , 4 8 7 45 9 , 6 6 0 (9,173)102.04%31 32 TO T A L E X P E N D I T U R E S $9 8 3 , 4 4 9 $1 , 2 1 4 , 3 6 9 ($ 2 3 0 , 9 2 0 ) $3 , 4 0 4 , 5 0 4 $9 8 6 , 9 0 2 $4 , 3 9 1 , 4 0 6 $4 , 2 7 4 , 1 2 3 117,28397.33%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 D e c e m b e r 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 1 2 / 1 / 1 4 3 4 1 1 0 1 C a s h 1 , 1 5 7 , 7 9 2 . 6 3 $ 1 , 1 5 7 , 7 9 2 . 6 3 $ - $ 4 5 1 1 1 0 T I F 2 5 , 0 1 7 . 2 0 2 5 , 0 1 7 . 2 0 - 5 6 To t a l C a s h 1 , 1 8 2 , 8 0 9 . 8 3 $ 1 , 1 8 2 , 8 0 9 . 8 3 $ - $ 6 7 7 8 Re c e i p t s 8 9 1 1 0 1 C a s h 4 , 7 8 0 , 3 3 1 . 0 9 $ 8 3 7 , 3 8 3 . 6 4 $ 3 , 9 4 2 , 9 4 7 . 4 5 $ 9 10 1 1 1 0 T I F 1 , 0 9 6 , 2 2 4 . 5 1 - 1 , 0 9 6 , 2 2 4 . 5 1 10 11 D e v e l o p e r P a y m e n t s ( 8 1 5 , 5 4 9 . 5 6 ) - ( 8 1 5 , 5 4 9 . 5 6 ) 11 12 To t a l R e c e i p t s 5 , 0 6 1 , 0 0 6 . 0 4 $ 8 3 7 , 3 8 3 . 6 4 $ 4 , 2 2 3 , 6 2 2 . 4 0 $ 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 9 4 6 , 8 2 2 . 0 9 $ 9 8 , 8 4 6 . 4 4 $ ( 8 4 7 , 9 7 5 . 6 5 ) $ 15 16 1 1 1 0 T I F 2 6 6 , 5 2 5 . 5 4 8 2 , 4 5 1 . 8 8 ( 1 8 4 , 0 7 3 . 6 6 ) 16 17 To t a l D i s b u r s e m e n t s 1 , 2 1 3 , 3 4 7 . 6 3 $ 1 8 1 , 2 9 8 . 3 2 $ ( 1 , 0 3 2 , 0 4 9 . 3 1 ) $ 17 18 18 19 1 1 0 1 C a s h 4 , 9 9 1 , 3 0 1 . 6 3 $ 1 , 8 9 6 , 3 2 9 . 8 3 $ 3 , 0 9 4 , 9 7 1 . 8 0 $ 19 20 1 1 1 0 T I F 3 9 , 1 6 6 . 6 1 ( 5 7 , 4 3 4 . 6 8 ) 9 6 , 6 0 1 . 2 9 20 21 Ca s h B a l a n c e 1 2 / 3 1 / 1 4 5 , 0 3 0 , 4 6 8 . 2 4 $ 1 , 8 3 8 , 8 9 5 . 1 5 $ 3 , 1 9 1 , 5 7 3 . 0 9 $ 21 22 22 23 To t a l U s a b l e F u n d s $ 5 , 0 3 0 , 4 6 8 . 2 4 $ 1 , 8 3 8 , 8 9 5 . 1 5 $ 3 , 1 9 1 , 57 3 . 0 9 23 -1 C - Restricted Funds Energy Center Reserve $501,760 Civic Rent Reserve 801,870 Supplemental Reserve Fund 2,526,433 Sub-total:3,830,063 Unrestricted Funds TIF 39,167 Non TIF 4,991,302 Sub-total:5,030,468 Total Funds $8,860,531 Carmel Redevelopment Commission Fund Balances and Outstanding Receivables as of 12/31/14 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 5 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 1/ 1 / 1 5 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 5 2 0 1 5 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 , 1 1 5 , 0 0 0 $ 5 1 5 , 0 0 0 $ 3 9 8 , 1 6 9 $ 9 1 3 , 1 6 9 $ 4 5 8 , 3 2 4 $ 4 5 4 , 8 4 5 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 , 4 2 0 , 0 0 0 7 9 0 , 0 0 0 1 6 9 , 2 4 3 9 5 9 , 2 4 3 4 7 9 , 7 1 1 4 7 9 , 5 3 2 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 , 6 2 7 , 5 1 5 1 , 8 3 2 , 4 8 5 3 , 4 6 0 , 0 0 0 1 , 7 3 0 , 0 0 0 1 , 7 3 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 4 , 7 6 5 , 0 0 0 4 , 2 3 0 , 0 0 0 1 , 3 2 8 , 0 5 7 5 , 5 5 8 , 0 5 7 2 , 7 7 8 , 3 1 7 2 , 7 7 9 , 7 4 0 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 2 0 , 0 2 5 2 2 0 , 0 2 5 1 1 0 , 0 1 3 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 2 , 1 8 7 , 9 5 6 2 , 1 8 7 , 9 5 6 1 , 0 9 3 , 9 7 8 1 , 0 9 3 , 9 7 8 7 $2 9 3 , 4 4 8 , 2 2 7 $2 7 2 , 0 6 9 , 1 5 0 $7 , 1 6 2 , 5 1 5 $8 , 3 4 0 , 5 6 0 $1 5 , 5 0 3 , 0 7 5 $8,846,633$8,844,398 $1 , 4 7 0 , 7 9 3 1 / 1 / 1 5 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 5 2 0 1 5 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 , 4 0 0 , 0 0 0 3 9 5 , 0 0 0 9 6 8 , 6 1 9 3 1 , 5 8 7 1 , 3 9 5 , 2 0 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 $2 0 , 8 0 0 , 0 0 0 $1 9 , 9 0 0 , 0 0 0 $3 9 5 , 0 0 0 $1 , 1 2 6 , 1 1 9 $3 1 , 5 8 7 $1,552,706 $3 1 4 , 2 4 8 , 2 2 7 $2 9 1 , 9 6 9 , 1 5 0 $7 , 5 5 7 , 5 1 5 $9 , 4 6 6 , 6 7 9 $3 1 , 5 8 7 $19,243,737 (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 5 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 Ye a r I s s u e d 1s t C a l l Ma t u r i t y Pa 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 Ta 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 ) 20 0 4 7/ 1 5 / 2 0 1 4 7/ 1 5 / 2 0 2 4 7/ 1 5 / 1 5 , 1 / 1 5 / 1 6 To 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 5 , 1 2 / 1 5 / 1 5 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 fo 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 p r o p e r t y i n t h e C i t y C e n t e r Re d e v e l o p m e n t A r e a 2 3 Le 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 ) 20 0 5 2 / 1 / 2 0 1 1 2 / 1 / 2 0 3 3 7 / 1 / 1 5 , 1 / 1 / 1 6 To 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 co m p l e x 3 4 Le 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 ) 20 1 2 8 / 1 / 2 0 2 6 2 / 1 / 2 0 3 8 7 / 1 / 1 5 , 1 / 1 / 1 6 To 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 ra t e 4 5 Le 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 ) 20 1 2 2 / 1 / 2 0 1 4 2 / 1 / 2 0 2 5 7 / 1 / 1 5 , 1 / 1 / 1 6 To 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 ra t e 5 6 Re 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 ) 20 1 3 7/ 1 5 / 2 0 2 4 1/ 1 5 / 2 0 3 5 7/ 1 5 / 1 5 , 1 / 1 / 1 6 To 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 Le 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 ) 20 1 4 2 / 1 / 2 0 2 4 2 / 1 / 2 0 3 3 7 / 1 / 1 5 , 1 / 1 / 1 6 To 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 we 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 Ye a r I s s u e d 1s t C a l l Ma t u r i t y Pa 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 5 , 1 / 1 5 / 1 6 To 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 re 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 Se 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 20 1 1 N/ A 7/ 1 5 / 2 0 3 4 7/ 1 5 / 1 5 , 1 / 1 5 / 1 6 To 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 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 J a n u a r y 1 , 2 0 1 5 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 Ju n e 2 0 1 4 Co l l e c t i o n s ( 2 ) December 2014 Collections (2)1 1 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 - Gr 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 0 2 0 2 7 4 4 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 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 1 , 9 4 3 , 9 8 3 2 0 3 6 1 3 3 , 1 0 5 1 3 3 , 0 9 9 2 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 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 7 5 1 , 5 0 0 7 1 7 , 5 0 0 2 0 3 1 7 4 , 8 8 2 7 4 , 8 5 7 3 4 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 8, 8 9 5 , 0 0 0 20 3 1 432,720433,3934 5 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 Lo 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 5 6 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 5 204,429211,6256 7 To t a l $3 6 , 9 3 1 , 5 0 0 $1 6 , 0 5 6 , 4 8 3 $845,1417 8 8 9 9 10 10 11 11 12 12 13 13 14 (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 . 14 15 15 16 (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 . 16 17 17 18 (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 . 18 19 19 (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 pr 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 o b 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 bo 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 2 0 1 4 T I F C o l l e c t i o n s To t a l C o u n t y Le s s P a r k w o o d Ne t 2 0 1 4 D i s t r i b u t i o n GrossGross Es t i m a t e s * Gr o s s 2 0 1 4 (A p p e a l s ) Ne t 2 0 1 4 Le s s D e v e l o p e r Tr a n s f e r t o Af t e r P a s s T h r o u g h PercentageDollars Ar e a To t a l Di s t r i b u t i o n TI F R e f u n d s Di s t r i b u t i o n Pa s s T h r o u g h Re s e r v e F u n d an d P a r k w o o d T r a n s f e r VarianceVariance 11 6 t h S t . C e n t r e $2 6 6 , 1 9 8 . 5 5 $2 6 6 , 1 9 8 . 5 4 $5 . 8 8 $2 6 6 , 2 0 4 . 4 2 ($ 2 6 6 , 2 0 4 . 4 2 ) $0.00100%($0.01) Am e n d e d I l l i n o i s S t r e e t 15 5 , 1 2 5 . 1 1 15 5 , 1 2 5 . 1 0 (4 , 4 1 0 . 1 2 ) 15 0 , 7 1 4 . 9 8 0. 0 0 15 0 , 7 1 4 . 9 8 100%(0.01) Am e n d e d 1 2 6 t h S t r e e t 7, 9 2 1 , 1 1 2 . 0 6 7, 9 4 9 , 4 1 2 . 9 4 (1 6 1 , 5 1 9 . 4 0 ) 7, 7 8 7 , 8 9 3 . 5 4 0. 0 0 7, 7 8 7 , 8 9 3 . 5 4 100%28,300.88 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 86 6 , 7 8 5 . 1 6 86 6 , 0 3 0 . 0 4 82 . 7 8 86 6 , 1 1 2 . 8 2 (8 6 6 , 1 1 2 . 8 2 ) 0.00100%(755.12) Ci t y C e n t e r 89 2 , 3 5 5 . 4 9 88 7 , 6 2 0 . 4 6 (1 1 , 3 5 7 . 9 4 ) 87 6 , 2 6 2 . 5 2 0. 0 0 87 6 , 2 6 2 . 5 2 99%(4,735.03) Do w n t o w n E D A # 1 85 7 , 6 8 4 . 5 1 85 9 , 2 6 6 . 5 1 14 5 . 1 7 85 9 , 4 1 1 . 6 8 0. 0 0 85 9 , 4 1 1 . 6 8 100%1,582.00 Do w n t o w n E D A # 2 12 3 , 1 0 6 . 5 6 12 3 , 1 0 6 . 5 6 24 . 2 4 12 3 , 1 3 0 . 8 0 0. 0 0 12 3 , 1 3 0 . 8 0 100%0.00 Ca r m e l D r i v e 15 2 , 3 1 2 . 4 0 13 7 , 1 2 4 . 9 8 (1 1 , 9 7 2 . 9 5 ) 12 5 , 1 5 2 . 0 3 0. 0 0 12 5 , 1 5 2 . 0 3 90%(15,187.42) Me r c h a n t s S q u a r e 53 2 , 7 4 0 . 8 7 39 4 , 6 1 8 . 0 0 (8 5 , 9 2 2 . 5 0 ) 30 8 , 6 9 5 . 5 0 0. 0 0 30 8 , 6 9 5 . 5 0 74%(138,122.87) CR C P a r c e l 1 2 17 9 , 0 9 4 . 7 2 17 9 , 0 9 4 . 7 2 33 . 9 0 17 9 , 1 2 8 . 6 2 0. 0 0 17 9 , 1 2 8 . 6 2 100%0.00 Gr a m e r c y 8. 3 2 8. 3 2 0. 0 0 8. 3 2 (8 . 3 2 ) 0.00100%0.00 Ha z e l D e l l N o r t h 29 2 , 9 2 2 . 5 8 29 9 , 5 0 2 . 1 6 (4 6 6 . 8 4 ) 29 9 , 0 3 5 . 3 2 0. 0 0 29 9 , 0 3 5 . 3 2 102%6,579.58 Ha z e l D e l l S o u t h 90 7 , 3 0 1 . 7 3 89 9 , 0 8 5 . 0 8 80 . 2 9 89 9 , 1 6 5 . 3 7 0. 0 0 89 9 , 1 6 5 . 3 7 99%(8,216.65) La u t h - W a l k e r 63 3 , 9 2 5 . 1 5 63 3 , 9 2 5 . 1 4 (7 2 , 8 1 2 . 8 5 ) 56 1 , 1 1 2 . 2 9 0. 0 0 56 1 , 1 1 2 . 2 9 100%(0.01) Le g a c y 42 6 , 0 3 1 . 6 2 42 5 , 6 7 1 . 8 4 (9 , 6 1 7 . 6 0 ) 41 6 , 0 5 4 . 2 4 (4 1 6 , 0 5 4 . 2 4 ) 0.00100%(359.78) Lu r i e 17 , 1 9 9 . 4 1 17 , 1 9 9 . 4 2 1. 1 0 17 , 2 0 0 . 5 2 0. 0 0 17,200.52100%0.01 Me r c h a n t s P o i n t e 24 6 , 7 2 0 . 1 2 25 4 , 4 4 8 . 1 5 (8 , 8 3 8 . 5 4 ) 24 5 , 6 0 9 . 6 1 0. 0 0 24 5 , 6 0 9 . 6 1 103%7,728.03 Me r i d i a n & M a i n 14 9 , 7 1 3 . 1 5 14 9 , 7 1 3 . 1 6 0. 0 0 14 9 , 7 1 3 . 1 6 (7 4 , 8 5 0 . 2 8 ) 74,862.88100%0.01 MI S O P P T I F 0. 0 0 16 , 7 4 0 . 0 1 0. 0 0 16 , 7 4 0 . 0 1 16,740.010%16,740.01 Na t i o n a l C i t y T T A 3, 4 7 4 . 8 3 3, 4 7 4 . 8 6 0. 6 6 3, 4 7 5 . 5 2 0. 0 0 3,475.52100%0.03 No r t h I l l i n o i s S t r e e t 3, 9 0 1 , 2 3 5 . 6 0 3, 7 9 3 , 8 9 6 . 8 6 68 8 . 3 9 3, 7 9 4 , 5 8 5 . 2 5 0. 0 0 3, 7 9 4 , 5 8 5 . 2 5 97%(107,338.74) Ol d M e r i d i a n 60 1 , 0 5 1 . 4 4 60 2 , 4 4 1 . 5 9 (1 7 , 0 3 3 . 3 1 ) 58 5 , 4 0 8 . 2 8 0. 0 0 58 5 , 4 0 8 . 2 8 100%1,390.15 Ol d M e t h o d i s t 1, 1 6 4 . 2 1 1, 1 6 4 . 2 2 0. 2 2 1, 1 6 4 . 4 4 0. 0 0 1,164.44100%0.01 Ol d T o w n 21 8 , 1 2 1 . 8 6 21 8 , 1 2 1 . 8 6 42 . 2 0 21 8 , 1 6 4 . 0 6 0. 0 0 21 8 , 1 6 4 . 0 6 100%0.00 Ol d T o w n S h o p p e s 93 , 6 2 4 . 7 0 88 , 6 0 7 . 6 1 (3 , 5 1 5 . 0 0 ) 85 , 0 9 2 . 6 1 0. 0 0 85,092.6195%(5,017.09) Pa r k w o o d C r o s s i n g 1, 3 3 3 , 6 7 6 . 7 8 1, 3 3 3 , 6 9 6 . 0 6 (1 0 , 7 2 1 . 9 4 ) 1, 3 2 2 , 9 7 4 . 1 2 (6 4 1 , 0 0 7 . 7 0 ) (6 8 1 , 9 6 6 . 4 2 ) 0.00100%19.28 Pa r k w o o d E a s t 84 4 , 6 6 5 . 0 4 84 4 , 6 6 5 . 0 4 15 9 . 6 6 84 4 , 8 2 4 . 7 0 (4 2 2 , 4 9 2 . 1 8 ) (4 2 2 , 3 3 2 . 5 2 ) 0.00100%0.00 We s t C l a y 56 4 , 8 4 9 . 9 2 56 4 , 8 1 0 . 3 2 (1 4 , 4 5 8 . 6 0 ) 55 0 , 3 5 1 . 7 2 0. 0 0 55 0 , 3 5 1 . 7 2 100%(39.60) $2 2 , 1 8 2 , 2 0 1 . 8 9 $2 1 , 9 6 4 , 7 6 9 . 5 5 ($ 4 1 1 , 3 8 3 . 1 0 ) $2 1 , 5 5 3 , 3 8 6 . 4 5 ($ 2 , 6 8 6 , 7 2 9 . 9 6 ) ($ 1 , 1 0 4 , 2 9 8 . 9 4 ) $1 7 , 7 6 2 , 3 5 7 . 5 5 99.02%($217,432.34) Re f e r e n c e A B C D E F G HI Ca l c u l a t i o n B+ C D+ E + F B/AB-A *C o u n t y E s t i m a t e s a r e p e r t h e H a m i l t o n C o u n t y 2 0 1 3 P a y 2 0 1 4 T I F B i l l i n g R e p o r t . T h e t o t a l a m o u n t r e p r e s e n t s t h e t o t a l a c t u a l p r o p e r t y t a x e s b i l l e d i n e a c h T I F A r e a . T h e e s t i m a t e sh o w n i s n e t o f t h e e s t i m a t e d s c h o o l r e f e r e n d u m i m p a c t . A- 1 Ca r m e l R e d e v e l o p m e n t C o m m i s s i o n An a l y s i s o f 2 0 1 4 T I F C o l l e c t i o n s a n d D i s b u r s e m e n t s Re f e r e n c e A B C D E F G H I J K L M Reference 1 Ju n e 2 0 1 4 De c e m b e r 2 0 1 4 To t a l De v e l o p e r Pa r k w o o d T r a n s f e r Bo n d / L e a s e Re f u n d i n g PA C COIT 1 2 Ar e a Di s t r i b u t i o n Di s t r i b u t i o n Di s t r i b u t i o n Pa y m e n t s to R e s e r v e Pa y m e n t s ( 1 ) Su b t o t a l Bo n d s ( 2 ) CO P S C ( 3 ) Le a s e ( 4 ) Payment (5)Remaining2 3 11 6 t h S t . C e n t r e 13 3 , 1 0 5 . 1 5 13 3 , 0 9 9 . 2 7 26 6 , 2 0 4 . 4 2 ($ 2 6 6 , 2 0 4 . 4 2 ) $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 73 , 1 5 2 . 4 3 77 , 5 6 2 . 5 5 15 0 , 7 1 4 . 9 8 15 0 , 7 1 4 . 9 8 (8 3 , 8 5 5 . 9 3 ) (1 2 , 3 9 2 . 0 6 ) (4 2 , 2 5 4 . 6 7 ) (8,746.44)$3,465.884 5 Am e n d e d 1 2 6 t h S t r e e t 3, 7 9 6 , 0 8 9 . 6 2 3, 9 9 1 , 8 0 3 . 9 2 7, 7 8 7 , 8 9 3 . 5 4 7, 7 8 7 , 8 9 3 . 5 4 (4 , 3 3 3 , 0 8 6 . 4 2 ) (6 4 0 , 3 3 4 . 8 6 ) (2 , 1 8 3 , 4 2 5 . 3 6 ) (451,954.63)179,092.275 6 Ar t s D i s t r i c t L o f t s a n d S h o p p e s 43 2 , 7 2 0 . 2 4 43 3 , 3 9 2 . 5 8 86 6 , 1 1 2 . 8 2 ($ 8 6 6 , 1 1 2 . 8 2 ) 0. 0 0 0. 0 0 0. 0 0 0.000.000.006 7 Ci t y C e n t e r 43 0 , 1 5 3 . 1 8 44 6 , 1 0 9 . 3 4 87 6 , 2 6 2 . 5 2 87 6 , 2 6 2 . 5 2 (4 8 7 , 5 4 1 . 4 9 ) (7 2 , 0 4 7 . 9 1 ) (2 4 5 , 6 7 0 . 2 6 ) (50,852.12)20,150.747 8 Do w n t o w n E D A # 1 40 3 , 4 7 1 . 3 3 45 5 , 9 4 0 . 3 5 85 9 , 4 1 1 . 6 8 85 9 , 4 1 1 . 6 8 (4 7 8 , 1 6 5 . 8 9 ) (7 0 , 6 6 2 . 4 0 ) (2 4 0 , 9 4 5 . 9 3 ) (49,874.22)19,763.248 9 Do w n t o w n E D A # 2 61 , 5 7 7 . 5 2 61 , 5 5 3 . 2 8 12 3 , 1 3 0 . 8 0 12 3 , 1 3 0 . 8 0 (6 8 , 5 0 8 . 4 3 ) (1 0 , 1 2 4 . 0 4 ) (3 4 , 5 2 1 . 1 3 ) (7,145.65)2,831.559 10 Ca r m e l D r i v e 81 , 3 5 5 . 7 0 43 , 7 9 6 . 3 3 12 5 , 1 5 2 . 0 3 12 5 , 1 5 2 . 0 3 (6 9 , 6 3 3 . 0 2 ) (1 0 , 2 9 0 . 2 3 ) (3 5 , 0 8 7 . 8 1 ) (7,262.94)2,878.0310 11 Me r c h a n t s S q u a r e 23 0 , 0 8 7 . 8 3 78 , 6 0 7 . 6 7 30 8 , 6 9 5 . 5 0 30 8 , 6 9 5 . 5 0 (1 7 1 , 7 5 4 . 3 1 ) (2 5 , 3 8 1 . 5 1 ) (8 6 , 5 4 6 . 3 3 ) (17,914.52)7,098.8411 12 CR C P a r c e l 1 2 89 , 5 8 1 . 2 6 89 , 5 4 7 . 3 6 17 9 , 1 2 8 . 6 2 17 9 , 1 2 8 . 6 2 (9 9 , 6 6 4 . 9 2 ) (1 4 , 7 2 8 . 2 8 ) (5 0 , 2 2 0 . 7 7 ) (10,395.37)4,119.2812 13 Gr a m e r c y 4. 1 6 4. 1 6 8. 3 2 (8 . 3 2 ) 0. 0 0 0. 0 0 0. 0 0 0.000.000.0013 14 Ha z e l D e l l N o r t h 15 7 , 4 3 0 . 1 9 14 1 , 6 0 5 . 1 3 29 9 , 0 3 5 . 3 2 29 9 , 0 3 5 . 3 2 (1 6 6 , 3 7 9 . 5 1 ) (2 4 , 5 8 7 . 2 3 ) (8 3 , 8 3 7 . 9 9 ) (17,353.91)6,876.6914 15 Ha z e l D e l l S o u t h 55 1 , 1 8 5 . 2 2 34 7 , 9 8 0 . 1 5 89 9 , 1 6 5 . 3 7 89 9 , 1 6 5 . 3 7 (5 0 0 , 2 8 4 . 3 5 ) (7 3 , 9 3 1 . 0 2 ) (2 5 2 , 0 9 1 . 3 3 ) (52,181.24)20,677.4215 16 La u t h - W a l k e r 24 4 , 1 4 9 . 7 2 31 6 , 9 6 2 . 5 7 56 1 , 1 1 2 . 2 9 56 1 , 1 1 2 . 2 9 (3 1 2 , 1 9 5 . 8 5 ) (4 6 , 1 3 5 . 6 8 ) (1 5 7 , 3 1 4 . 2 7 ) (32,563.02)12,903.4716 17 Le g a c y 20 4 , 4 2 8 . 9 8 21 1 , 6 2 5 . 2 6 41 6 , 0 5 4 . 2 4 (4 1 6 , 0 5 4 . 2 4 ) 0. 0 0 0. 0 0 0. 0 0 0.000.000.0017 18 Lu r i e 11 , 6 3 0 . 8 8 5, 5 6 9 . 6 4 17 , 2 0 0 . 5 2 17 , 2 0 0 . 5 2 (9 , 5 7 0 . 1 5 ) (1 , 4 1 4 . 2 6 ) (4 , 8 2 2 . 3 6 ) (998.20)395.5518 19 Me r c h a n t s P o i n t e 15 2 , 0 3 9 . 0 8 93 , 5 7 0 . 5 3 24 5 , 6 0 9 . 6 1 24 5 , 6 0 9 . 6 1 (1 3 6 , 6 5 4 . 1 1 ) (2 0 , 1 9 4 . 4 7 ) (6 8 , 8 5 9 . 4 7 ) (14,253.46)5,648.1019 20 Me r i d i a n & M a i n 74 , 8 5 6 . 5 8 74 , 8 5 6 . 5 8 14 9 , 7 1 3 . 1 6 (7 4 , 8 5 0 . 2 8 ) 74 , 8 6 2 . 8 8 (4 1 , 6 5 2 . 7 7 ) (6 , 1 5 5 . 3 6 ) (2 0 , 9 8 8 . 6 7 ) (4,344.52)1,721.5620 21 MI S O P P T I F 16 , 7 4 0 . 0 1 16 , 7 4 0 . 0 1 16 , 7 4 0 . 0 1 (9 , 3 1 3 . 9 3 ) (1 , 3 7 6 . 3 9 ) (4 , 6 9 3 . 2 5 ) (971.47)21 22 Na t i o n a l C i t y T T A 1, 7 3 8 . 0 9 1, 7 3 7 . 4 3 3, 4 7 5 . 5 2 3, 4 7 5 . 5 2 (1 , 9 3 3 . 7 4 ) (2 8 5 . 7 6 ) (9 7 4 . 4 0 ) (201.69)79.9222 23 No r t h I l l i n o i s S t r e e t 1, 9 6 5 , 0 7 6 . 4 6 1, 8 2 9 , 5 0 8 . 7 9 3, 7 9 4 , 5 8 5 . 2 5 (1 , 1 5 5 , 2 2 5 . 9 7 ) 2, 6 3 9 , 3 5 9 . 2 8 (1 , 4 6 8 , 5 0 6 . 4 4 ) (2 1 7 , 0 1 2 . 9 5 ) (7 3 9 , 9 7 4 . 6 8 ) (153,169.87)60,695.3423 24 Ol d M e r i d i a n 29 5 , 7 0 8 . 6 8 28 9 , 6 9 9 . 6 0 58 5 , 4 0 8 . 2 8 58 5 , 4 0 8 . 2 8 (3 2 5 , 7 1 3 . 8 3 ) (4 8 , 1 3 3 . 3 4 ) (1 6 4 , 1 2 5 . 9 3 ) (33,972.98)13,462.1924 25 Ol d M e t h o d i s t 58 5 . 1 4 57 9 . 3 0 1, 1 6 4 . 4 4 1, 1 6 4 . 4 4 (6 4 7 . 8 8 ) (9 5 . 7 4 ) (3 2 6 . 4 6 ) (67.58)26.7825 26 Ol d T o w n 10 9 , 1 0 3 . 1 3 10 9 , 0 6 0 . 9 3 21 8 , 1 6 4 . 0 6 21 8 , 1 6 4 . 0 6 (1 2 1 , 3 8 3 . 7 5 ) (1 7 , 9 3 7 . 8 5 ) (6 1 , 1 6 4 . 8 0 ) (12,660.71)5,016.9526 27 Ol d T o w n S h o p p e s 46 , 6 2 8 . 3 9 38 , 4 6 4 . 2 2 85 , 0 9 2 . 6 1 85 , 0 9 2 . 6 1 (4 7 , 3 4 4 . 4 6 ) (6 , 9 9 6 . 4 7 ) (2 3 , 8 5 6 . 6 9 ) (4,938.18)1,956.8127 28 Pa r k w o o d C r o s s i n g 64 1 , 0 0 7 . 7 0 68 1 , 9 6 6 . 4 2 1, 3 2 2 , 9 7 4 . 1 2 (6 4 1 , 0 0 7 . 7 0 ) (6 8 1 , 9 6 6 . 4 2 ) 0. 0 0 0. 0 0 0. 0 0 0.000.000.0028 29 Pa r k w o o d E a s t 42 2 , 4 9 2 . 1 8 42 2 , 3 3 2 . 5 2 84 4 , 8 2 4 . 7 0 (4 2 2 , 4 9 2 . 1 8 ) (4 2 2 , 3 3 2 . 5 2 ) 0. 0 0 0. 0 0 0. 0 0 0.000.000.0029 30 We s t C l a y 63 , 8 9 1 . 9 5 48 6 , 4 5 9 . 7 7 55 0 , 3 5 1 . 7 2 55 0 , 3 5 1 . 7 2 (3 0 6 , 2 0 8 . 8 0 ) (4 5 , 2 5 0 . 9 3 ) (1 5 4 , 2 9 7 . 4 2 ) (31,938.55)12,656.0230 31 To t a l s $1 0 , 6 7 3 , 2 5 0 . 7 9 $1 0 , 8 8 0 , 1 3 5 . 6 6 $2 1 , 5 5 3 , 3 8 6 . 4 5 (2 , 6 8 6 , 7 2 9 . 9 6 ) (1 , 1 0 4 , 2 9 8 . 9 4 ) (1 , 1 5 5 , 2 2 5 . 9 7 ) $1 6 , 6 0 7 , 1 3 1 . 5 8 ($ 9 , 2 4 0 , 0 0 0 . 0 0 ) ($ 1 , 3 6 5 , 4 6 8 . 7 5 ) ($ 4 , 6 5 6 , 0 0 0 . 0 0 ) ($963,761.25)$381,516.6231 32 A B C D32 33 Fi r s t T i e r Se c o n d T i e r 33 34 34 35 35 36 Fi r s t T i e r ( A ) / S u b t o t a l 1 . 8 0 36 37 Se c o n d T i e r ( A a n d B ) / S u b t o t a l 1 . 5 7 37 38 Th i r d T i e r ( A , B , C , D ) / S u b t o t a l 1.0238 39 (2 ) S e m i a n n u a l p a y m e n t $ 4 , 6 2 2 , 0 0 0 p a i d o n 1 2 / 3 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 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 39 40 40 41 (3 ) S e m i a n n u a l p a y m e n t $ 6 8 2 , 5 7 5 p a i d o n 1 2 / 3 0 / 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 41 42 42 43 (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 p a i d o n 1 2 / 3 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 ) 43 44 44 45 (5 ) S e m i a n n u a l b o n d p a y m e n t $ 4 7 9 , 5 3 3 . 7 5 p a i d o n 1 2 / 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 ) 45 46 46 47 47 48 48 49 49 50 50 51 51 52 52 53 53Debt Service Coverage (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 6 , 4 7 0 a n d $ 1 1 0 , 0 1 2 . 5 p a i d o n 1 2 / 3 1 / 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 S t 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