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Financials February 2012
CARMEL REDEVELOPMENT COMMISSION Financial Information Packet For the Month Ending February 29, 2012 Carmel Redevelopment Commission Financial Packet Table of Contents Schedule Section Schedule 1- Budget Year 2012 Monthly Projections and Results 1 Revenue Budget Analysis 1A Expenditure Budget Analysis 1B Summary of Cash and Cash Rights 1C Schedule 2 - Debt Summary 2 Additional Information 2A Developer Bonds 2B Schedule 3 - 4CDC Grant Obligations 3 Schedule 4 - Installment Purchase Contract Summary 4 Mercantile $10,000,000 Contract 4A National Bank of Indianapolis $10,000,000 Contract 4B Regions Bank $25,000,000 Contract 4C Regions Bank $10,000,000 Contract 4D Camel Redcv Abbubl 4.41 rmacrto b„a„ rebru, ,,111,C71. Enc„,,r .11Budnel NaNDPEr.1.14 BALM. 5 .070910 58..3 trm at Oval, 0 of Creed,Pdivity 11 rualr.. r.40M1M...111. 10 ibbtz....behabb Cbraran ,t Pam ortruite. 20 unborlUIXES•NONOPV.7.0 Cornerbbm, 72 PAC ,nrulvdellon/libibmtlon Fr.pm,b1 . bbrO 5.7.0 Construalon 1'47%. 44,1 21.1;1' 21.011.3. 15,00 21,10.403 .00b 16 20 o00 177 GM 17,000 2.5.1.700 40 000 38 ...I.GloncomvuctionS.r1M, .7SP, 36. 69 150 nn 421 0. 1 01 I "...1 0. 0.,00 0.0 Parbbl lb Parer 0,0 10000 19 MO 1.000 48 Hon .0)01 Sufb i. 3 /98 frba. 7 Q.; 49 Ma,. Irv. 0 . Installmon....abb Comm,...m, C. bAn 338 MI SI Co.., Poi... Adm111,11..vb iv. 12 .11. Eab.00a 29.230 110.000 ,1.500 97 . 707.001.011"...N01.10.10311. 4,497.31C; I 44 0.PAIANGFUI.7f.x...... • IVIERFUNrab.N • [nom; BAL.+. •Nora OKI.T11. 4.90 5P 100.6 52 MEWING 57 1.1no br .111t- Obareng 'WWI.. of VuoMAdIvitv Cb.er 73 10,1 ...14■Arn 75 Tote 41.11/1/11,0 4,040, 0 07.0 1.4.0 0,17, 48,78; .0 SO Obbotib. • Orme Ir... 81.4. 7.11, 77 .10, 1. 23,0 a7 rarbel 7c Uwe Pwbbl. GP../ClylbCAPI . bbree110,1no,..: 23,184 97 Pro' 03 L. A'55'"5"5K ..,11..em 10.771,1, 10.0 21100 TAO Wt. "101.110,1...0 NON 101 INT.Nr.11,1.0A1, An10% t03. ENDO. MAN. 3.000.000 1..50 20,000 70 00 3,0,0.01 67 79 78 , 270.0 (111,00 ;DM 1:0.0 1.7.11 1.000.060 19,310 60.3. 0., , 20.010 5,000 0 LOD 101 Carmel Redevel/ .8 Commission Month and Year to Date Revenue Budget Analysis For the Month Ending February 29, 2012 Reference A I 0 ] C I D I E I F 1 5 H I 1 I 1 I K Reference 1 Current Month Comments Current Year Budget 2 2 3 Budget Actual $ Variance Proposed Adjustments Revised YTD $ Remaining %YID 3 Recognized 4 RECEIPTS -NON OPERATING , 4 5 Line 09 004415 Draws $1,033,692 31,033,692 50 30.920060 $1,929,069 $1,033,692 3895,377 53,5950 5 6 1159 09 Credit Repayments 2 0 0 0 0 0 0 0.00% 6 7 TIF Revenue, Net of Developer Pass Through 0 0 0 17,664443 17,664,443 0714,603} 18,468,948 4.55% 7 N131 Installment Purchase Contract 0 0 0 860,000 860,000 457,000 403,000 53.14% 1 9 Regions Installment Purchase Contract 0 0 225,000 225,000 0 225,000 0.00% 9 10 Installment Purchase Contract 0 0 0 2,000,000 2,000,000 0 2,000,000 OM% 10 11 Wells Fargo 96,753 96,753 0 354,960 054,960 96,753 258,207 27.26% 11 12 12 13 TOTAL REVENUES - NON OPERATING 1,130,445 1,130,445 0 23,033,472 23,033,472 782,942 22,250,530 3.40% 13 14 14 15 15 16 16 17 17 18 RECEIPTS- OPERATING 18 19 559 09 Credit Draws 67,048 67,048 0 0 0 67,048 107,040 ODO% 19 20 499 09 Credit Repayments 0 0 0 0 0 0 0 0.00% 20 21 Parcel 7a roof repair reimbursement 0 0 3,000,000 3,000,000 0 3,000,000 0.00% 21 22 Energy Center payments 10,838 37,760 26,922 amounts were received earlier than originally anticipated 448,000 448,000 70,169 377,811 15.67% 22 23 Parking Surcharge 0 26,900 26,900 amounts were received earlier than 056158119 8500133584 186,000 186,000 26,900 159,100 1446% 23 24 Parcel 7 Tenants' Rent 48,707 40,787 0 330,349 336,349 97,574 240,775 28.8450 24 25 Keystone Group, LLC Receivable 0 0 200,000 200,000 0 200,000 0.0050 25 26 Miscellaneous revenue 0 0 0 70,000 70,000 755 69,245 1,08% 26 27 Line of Credit Grant from 400050 CPA 5 525,000 525,000 0 3,000,000 3,000,000 1,128,571 1,871,429 37.62% 27 Line of Credit Grant from 4033 0 0 0 0 0 0 0 0.00% 28 29 29 30 TOTAL REVENUES - OPERATING 651,673 705,495 53,822 7,242,349 7,242,940 1,391,007 5,851,312 19,2100 30 31 31 32 TOTAL REVENUES - COMBINED $1,782,118 31,005,940 550,922 330,275,821 355,275,321 32,170,970 028,101,842 32 33 33 34 34 35 35 36 06 -1A- Carmel Redeye) •Commission Month and Year to Datr tyre Budget Analysis For the Month Enr.. onus, 29,2012 Rergreng4 A D 1 B 1 5 1 E F 1 G J H 1 1 1 A 1 K Reference Current Month Comments Current Year Budget 2 2 3 050TD 54dee1 Actual Var S incre 00450384 A stments Revised. YP0 $Remaining Recognized 3 4 EXPENDITURES: NON OPERATING 5 Construction 6 PAC Construction/ 'on 500,253 596,753 I,)1,001 approved expenditure was pa {d during February InaC@dd of March as on6inally anticipated 51,510,003 91,550,000 3145,698 39,414,302 8,75% 6 PAC Consultants 34,243 34,243 0 104,000 103,060 34,243 63,757 33,250 7 4 Palladium Landscaping. 0 0 360,000 860,000 457,000 403,000 53,14% 8 9 RPAC Theater Equipment 3,287 3,28'7 0 229,000 225,060 3,207 221,713 10 Parcel 7B &7CConstruction Management 0 0 0 177,000 177.000 D 127,000 000% 10 11 Parcels 5,332 5.317 6 120,000 26,455 93,545 22,0333% 11 12 Parcels Phase 0 0 0 0 1,750,000 1,750,000 0 1,750,000 0,0094 12 ]3 Parcel 5 Phase 0404430 @Costs 0 0 0 290,000 250,000 0 212,000 0.46'X, 13 14 Parcel 47 570ee00015e 0 0 0 251,200 251,200 23,438 22],767 93977 14 15 Demolition of Grain Elevators o 0 0 200,000 200,000 0 200,000 0,000 15 monon Trail 107sl0e0s 0 0 0 100,000 100,000 0 100,000 00007 16 17 Miscellaneous 14746014i44 6,340 6,340 0 40,000 40,000 6,340 33,600 15.85% 17 18 Otlser 077e000 10,236 10,236 0 850,000 850,000 88,765 760,245 10,440 18 19 410C Grants 0 0 0 0 0.00% 19 26 Parking Surcharge 0 26,900 l,1,,9f1117expendlturowIra originally antlelp4984 to be paid In March 186,000 186,000 26,900 150,100 14.46% 20 21 Parcel 71e04nt0' Rent 48,787 48,787 0 338,349 333,349 97,174 240,775 75,845, 21 22 00,6,7gton Construction Shortfall 1,033,692 1,033,692 0 464,000 964,000 1,033692 (6;t,F'1)» 109.23% 22 23 Professional Fees 0 0 0 0 0.005, 23 24 Legal fees 44,150 44,150 600,300 600,000 77,477 522,523 12.91% 24 25 400h /E92i7ee1ing 44,421 44.421 0 620,000 620,000 41,951 538,049 10.2241 25 26 Accounting F @es y,tl13 1,013 0 49,000 45,000 2,091 42,909 4.61% 26 27 Land Contracts 0 0 0 0 0,00% 27 28 Parcel 9-28 Party Time 19,000 19,000 p 224,230 228,000 38,000 190,000 06,57511 28 29 Parcel 9.31 Chaos ' land acquisition 2,436 2,436 0 29,230 4,872 24358 1667% 29 30 Parcel 14 Harrill Property Purchase 10,000 10,000 0 126,000 120,000 20,009 100,000 16.67% 30 31 Bobby 070n, 107 7,625 7,625 0 91,500 91,309 15,250 76,250 16.0794 31 32 Non -PAC Debt Service 0 0 0 3,213,402 3,213,802 3,298,664 (04,8621 102,67% 02 33 2005 PAC Lease 0 0 0 5,200.000 5,200,000 0 5,200.000 00072 33 04 Installment Purchase Contract Payments 238,200 238,289 0 8,561,607 8,561,667 645,979 7,915,628 755% 34 35 Contract Purchase Administrative Fees 12,796 12,755 IS0} difference isse+vl[o charge on Harris arguing 245,000 245,000 25,236 219,764 10.30% 35 36 4CDC Grant' Line of Credit In100100 Expense 0 0 0 150,600 150,000 030,000 0.00% 36 37 TOTAL 600630100505. NON OPERATING 1,611,842 1,645,259 13,,4];11 27,968,688 0 27,006,687 6.142837 20,925,791 22.6051 37 38 34 39 39 40 40 41 IXPENOITURES: OPERATING 41 42 Operations and Maintenance 0 0 0 0 000% 42 43 0 n 38,624 40,357 11,911'(1 difference is due to entity bills that were received alter lost menih'0 meeting but paid before March 540 ,530 640,530 7$,191 562,339 12.21% 43 44 Marketing /Events 5,911 6,418 (51101) difference is check for Midwest tightscais. that was approved by Fvecutive Director and is on the shims approval sheet for the March meetlne 270,000 270,000 14,351 255,569 5,31% 44 45 M406e7ing /Business 00024007100 9,150 9,190 0 201,300 201,500 06,600 164,900 18.115, 45 46 CRC Lease 8,185 5,900 2,205 CRC's rent 100707slblll74 has decreased due to a new tenant In the Lune building 93,223 98.223 14,035 84,108 14,34% 46 47 01d Town 3hoppes and Carmel 0T3 Lease 316 318 0 50,000 50,000 3,087 45,913 6,170% 47 48 Parcel 70 Energy Center Utilitiet 5,170 24,400 1111,30rt,1 difference isinvoices that were received after last 0700113 'sm0etln4 but paid before March 450,000 450,000 82,818 307,182 18.4094 48 49 Parcel75 Management Fee D 0 0 100,000 100,000 0 100,000 0.00% 49 50 Parcel 7C Garage CAM 0 0 0 85,000 85,000 23,484 61,516 27.63% 50 51 31,00.1705,007/0,1,03,051 0 0 0 330,000 330,000 0 330,000 00044 91 52 Parcel 1013401,00 3,000 3,000 0 12,000 12,000 3,000 9,000 25.004 52 53 Line of 07210 Grant to 0046 525,000 525.000 0 3,000,000 3,000,000 1,124,971 1,871,409 3762% 53 54 Veterans Way Snow Removal 11,684 11,694 0 990,000 350,000 11,604 338,316 334'., 54 55 Professonal Fees 0 0 0 0 0,00"%, 55 56 Legal Fees 11,492 14,310 (218101 difference is due to a Wallack, 5amms and 3000 bill that should have been paid in the meo,ous month 210,000 210,000 24,649 185,351 11.74% 56 57 Arch /Engineering 913 013 0 00,000 20,000 913 19,087 4,5712 57 58 Accounting 7ee¢ 1,203 6,203 0 203,000 203.000 19,472 183,628 9.59% 58 59 Planning, Appraisals, Engineer consulOt,g 17,093 17,093 0 315,000 315,000 28,600 286,310 4,11774 59 60 Miscellaneous 6,272 6,327 CSSI difference is servlce ch4rge 4411110434009111 50,000 50,000 27,427 20,573 54.850,4 60 51 00001 Grant. Line of Credit interest Expense 0 0 0 171,000 171,000 0 171,000 0.00% 62 TOTAL EXPENDITURES. OPERATING 649,072 670,093 1.1,0111 6,556,253 0 6.556,253 1,497,002 5,059,251 22,837, 32 63 63 64 TOTAL EXPENDITURES, COMBINED 92,260,864 $0,315,352 (0114,7711( $30,624,941 50 $33,624,941 00.639.899 025,981,041 22.72A 64 Carmel Redevelt. .nt Commission Summary of Cash and Cash Rights For the Month Ending February 29, 2012 Reference A 6 C o I E F 6 6 1 1 J 11 Reference 1 1 2 Description Clerk - Treasurer (1) CRC (2) Lake City (3) Harris Bank (4) Wells Fargo (5) Mercantile (6) Star(6) Marine (6) Fowler (6) Harris Bank (6) Total 2 a Cash and Rights Balance 2/1/12 4 1101 Cash $ 9,970.49 $ - $ - $ - $ - $ - $ - 5 - $ _ $ - $ 9.970.49 4 5 1110 TIF Distributions 7.275.56 - - - _ _ _ - _ - 7 275.56 5 6 1118 2008 TIF Bond Proceeds 2,485.01 - - - - - - - - - 2,485.01 6 7 1119 2008 TIF Debt Service Res 3.309.91 - - - - - - - - - 3,309.91 7 8 CRC Star Bank - 48,787.06 - - - _ _ _ - _ 48,787.06 9 9 4807257943 BMO Harris Bank - 68,642,36 - - - - - - - - 58,642.36 9 10 87504111 Regions Bank - 746,932.67 - - - - - _ - - 746,932.67 10 11 Wells Fargo - Energy Center Sale - - - 354,962.94 - - - - 354,962.94 11 12 Cash Rights - - 1896,904.96 291,319.04 - 2,487,571.00 2,835,179.00 1,207,303.87 116,152.04 2.500,000.00 11,334,429.91 12 13 Total Cash $ 23,040.97 $ 864,362.09 $ 1.896,904.96 $ 291,319.04 $ 354,962.94 $ 2,487,571.00 $ 2,835,179.00 $ 1,207,303.87 $ 116,152.04 $ 2,500,000.00 $ 12,576,795.91 13 4 14 15 Receipts 15 16 Clerk- Treasurer Funds S - $ - $ - $ - $ - $ _ 5 _ $ - $ - $ _ $ - 16 17 Developer Payments - - - - - - _ _ _ _ - 17 18 CRC Star Bank 48,787.06 - - - - - - - - 48,787.06 1a 19 4807257943 BMO Harris Bank - - - - _ _ - _ _ - _ 19 20 57504111 Regions Bank - 1,166.399.55 - - - - - - - - 1,166,399.55 zo 21 Transfer - 2/24/12 - 95,752.96 - - (95,752.96) - - - _ - - 21 22 Transfer -/12 - - - - _ _ _ _ 22 23 Transfer -/12 - - - _ _ - _ - - 23 24 Transfer -/12 - _ - _ - 24 25 Total Receipts 5 - $ 1,310,939.57 $ - $ - $ (95.752.96) 5 - S - $ - $ - $ - $ 1,215,186.61 25 20 26 27 Disbursements 27 za Clerk - Treasurer Funds 3 265.69 $ - $ - $ - $ - 5 - S - $ - $ - $ - $ 265.69 29 29 PAC - - - - - - 525,000.00 - - - 525,000.00 29 30 Non -PAC - - - _ _ - _ - - 31 31 CRC Funds - 31 32 CRC Star Bank - - - _ _ _ - - 32 33 4807257943 BMO Harris Bank - 17.19 - - - - - - - - 17.19 33 04 87504111 Regions Bank - - 34 35 Installment Contract Loans - - - - - _ _ _ - _ - 35 36 PAC - 130,995.96 - - - - - _ - - 130,995.96 as 37 Non -PAC - 1,659,071.61 - - - - - - - - 1,659,071.61 37 38 4CDC LOC Approved Draws - - - - - 1,100808.05 - 4.993.59 8,938.31 23,903.00 1,138,642.95 38 39 Total Disbursements $ 265.89 $ 1,790,084.76 S - $ - $ - 5 1,100,808.05 S 525,000.00 $ 4,993.59 $ 8,938.31 $ 23,903.00 $ 2,315,350.45 39 40 40 41 1101 Cash $ 9,704.80 0 - $ - $ - $ - $ - S - $ - $ - $ - $ 9,704.80 41 42 1110 TIF Distributions 7,275.56 - - - - - _ _ - - 7,275.56 42 43 1118 2008 TIF Bond Proceeds 2,485.01 - - - - - - - - - 2,485.01 43 44 1119 2008 TIF Debt Service Res 3,309.91 - - - - - - - - - 3,309.91 44 45 CRC Star Bank - 97,574.12 - - - _ - - - - 97,574.12 45 46 4807257943 BMO Harris Bank - 68.625.17 - - - - - - - - 68,625.17 46 47 87504111 Regions Bank - 123,264.65 - - - - - - - - 123,264.65 47 48 Wells Fargo - Energy Center Sale - - - 259,209.98 - - - 259,209.98 48 41 Cash Right$ - - 1,896,904.96 291,319.04 - 1,386.762,95 2,310,179.00 1,202,310.28 107,213.73 2,476,097.00 9,670,786.96 49 50 Cash and Rights Balance 2/29/12 $ 22,775.28 $ 385,216.90 5 1,896,904.96 $ 291,319.04 $ 259,209.98 $ 1.386,762,95 $ 2,310,179.00 $ 1,202,310.28 $ 107,213.73 $ 2,476,097.00 $ 11.476,632.07 50 51 Total 096149ng Balance (7) (1) Represents funds that are held by the Clerk - Treasurers Office (2) Represents funds that are held in Accounts controlled by the Carmel (3) Represents remaining funds from the $8,000,000 bank loan dosed in (4) Represents remaining funds f0m the 512,500,000 bank ban dosed (5) RepreSents remaining funds born the Certificates of Participation, Sores (6) Represents remaining funds from Line of Credo with the indicated Financial (7) Total operating Balance is the sum of the ending Cash and Cash Rights 48D0 400C of Credit Funds are granted from the 4CDC and CRC Funds 51 52 407,992.18 52 53 Redevelopment Commission 2010 and held by the in 2011 and held by the 2010 C (Energy Center) 0014 tion, Line teethe Clerk- Treasurer 53 54 54 55 55 56 55 57 57 58 58 59 59 6C 6D -17- Carmel Redevelc, .:nt Commission Debt Summary For the Year Ending December 31, 2012 Reference A 8 C 0 E F 6 H I 1 K Reference Old Town Properties - Chao,. Parcel -931 Issuance Type Revenue Source Original Debt Amount Interest Rate 1/1/12 Outstanding Par Amount 2012 Principal Due (1) 2012 Interest Due (1) Total Debt Service First Installment 421 Second Installment (2) Dean & Dottie Harrill Parcel 14 1 Tax Increment Revenue Bonds, Series 2004 A (Illinois Street) Bond TIF 59,500,000 6.65034 57,670,000 5410,000 5503,405 5913,405 5455,028 5458,378 1 2 C017 Revenue Refunding Bonds, Series 2006 Bond TIF 5,580,000 5.250 - 5.270% 5,580,000 685,000 281,996 966,99E 485,341 481,654 2 3 Tax Increment Revenue Bonds 082008 (City Center) Bond TIF 14,000,000 5.820 - 7.800% 12,935,000 395.000 933,401 1.333,401 657,053 660,349 3 4 Lease Rental Revenue Bonds, Series 2005 (PAC Bonds) Lease TIF 79,998,227 4.000 - 5.000% 75,131,081 1,284,005 3,910,996 5,195,000 2,600,000 2,600,000 4 ub T0091s 109,078,227 101,816,081 2,774,005 55,634,797 513,400,502 54,207,421 4,206,381 ota s 2,515,174 2.158,453 86,979 $153,751 $240,730 520,061 Issuance Type Revenue Source Original Debt Amount Interest Rate 1/1/2012 Outstanding Par Amount 2012 Principal Due (1) 2012 Interest Due (1) Total Debt Service Monthly Payment Reference 5 Old Town Properties - Chao,. Parcel -931 Contract TIF 5341,174 6.000% 5322,600 59,350 319,670 $29,230 52,436 5 6 Dean & Dottie Harrill Parcel 14 Contract TIF 874,000 8.000% 546,543 73,072 45,928 120,000 10,000 Reference 7 Bobby John, LLC Contract TIF 1,300,000 6.770% 1,289,302 4,343 87,152 91,500 7,625 7 ota s 2,515,174 2.158,453 86,979 $153,751 $240,730 520,061 Sub Totals 556,715,000 556,715,000 $0 54,238,050 594,762 $4,332,822 Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 2012 Principal Due (1) 2012 Interest Due (1) Fees Total Debt Service Total Available Remaining Detail (Page) Reference 11 Revenue Original TIF Outstanding 2012 2012 5319,001 Total $25,000 $802,301 Certificate of Participation (COP) Type Source Debt Amount Interest Rate Amount Principal Due (1) Interest Due (1) Fees (3) 0681 5289100 Reference 1 Certificate of Participation, Series 2010 A COP TIF 537,905,000 7.700' 8.000% 537,905,000 $0 52,979,900 531,587 53,011,487 s 9 Certificate of Participation, Series 2010 E COP TIF 2,510,000 9.250% 2,510,000 0 232,175 31,587 268,762 9 10 Certificate of Participation, Series 2010 C (Energy Center; COP TIF 11,300,000 5.750 - 6.500% 16,300,000 0 1,025,975 31,587 1,057,9E2 10 Sub Totals 556,715,000 556,715,000 $0 54,238,050 594,762 $4,332,822 Sub Totals Grand Total 500,so0,000 5248,803,401 579,770,745 52,017,623 52,586,781 5117,770 $4,722,173 5447,840 5239,960,279 54,878,607 512,613.379 58,862,064 S13,232,463 5447,840 (1)Tot0 ser/ice ?Myr)! 1300' omortiration schedules of Issuance (7) rota,. rnmal lea, payment for 105155s, fie/3)010,m, 301,05,Ser,es 20051PPC3.53))3 equolto 002101 debr 5011)1e plus 55,000 .1 or 05)))nstrotive ar,trustec 5,01312 by 2. (3)Repres01t Admiristraive fees paid on ea, contract (4)Cran1313s ronrrolletl byPOt0p,,xde deveopment ar, cons)? 5ction fo) corbon of the reg.)), pe,forming or1s rm.) (5)Con01acts c,e used for the PeOcorDevelopet 3350 Refinancing and to firlarme uportirm of Phase ? Devriopmer, Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 Outstanding Par Amount 2012 Principal Due (1) 2012 Interest Due (1) Fees Total Debt Service Total Available Remaining Detail (Page) Reference 11 0-80-2009100 Clancy Theater Equipment Sound Equipment, and SECOA Seating (Mercantile Bank) IPC TIF 510,000,000 4.790 - 6.000% 59,847,982 5319,001 $462,221 $25,000 $802,301 59,906 4A 11 12 1-29-2010 ICC (0E11) IPC GE 10,000,000 5.340 - 6.00034 10,000,000 235,261 488,464 25,000 748,725 402,456 4B 12 13 1-1-2009100 Contracts (Regions Bank) IPC TIF 17,500,000 4.580 - 6.000% 17,090,910 567,632 735,992 23,929 1,377,572 9,223 4C 13 14 5-22-2009 ICO Garage 947 Contracts (Regions Bank) IPC TIF 7,500,100 4.960 - 6.000% 7,331,833 329,841 269,548 23,929 623,317 0 40 15 7-26-2010 ICO CTDC Contracts (Regions Bank) IPC TIF 10,000,000 5.240 - 6.000% 10,000,000 531,776 143,903 13,662 689,341 25,356 4D 15 16 6-10.2010 ICO (United Fidelity Bank) (3) IPC TIF 2,500,000 5.250 - 6,000% 2,500,000 38,012 119,845 6,250 164,107 0 N/A (4) 16 1712-0-2015100 (Harris Bank) IPC TIF 17,500,000 3.000% 17,500,000 0 316,809 0 316,819 0 N/A (1) 17 12-1-2011100 (Harris Bank) IPC TIF 4,500,000 350024 4,500,000 0 0 0 0 0 6/0)5) 18 19 12-1-20111C° (Hands Bank) IPC TIF 1,000,000 3.500% 1,000,000 0 0 0 0 0 6/5 (5) 19 Sub Totals Grand Total 500,so0,000 5248,803,401 579,770,745 52,017,623 52,586,781 5117,770 $4,722,173 5447,840 5239,960,279 54,878,607 512,613.379 58,862,064 S13,232,463 5447,840 (1)Tot0 ser/ice ?Myr)! 1300' omortiration schedules of Issuance (7) rota,. rnmal lea, payment for 105155s, fie/3)010,m, 301,05,Ser,es 20051PPC3.53))3 equolto 002101 debr 5011)1e plus 55,000 .1 or 05)))nstrotive ar,trustec 5,01312 by 2. (3)Repres01t Admiristraive fees paid on ea, contract (4)Cran1313s ronrrolletl byPOt0p,,xde deveopment ar, cons)? 5ction fo) corbon of the reg.)), pe,forming or1s rm.) (5)Con01acts c,e used for the PeOcorDevelopet 3350 Refinancing and to firlarme uportirm of Phase ? Devriopmer, Carmel Redevek ,4nt Commission Debt Summary - Additional Information For the Year Ending December 31, 2012 Reference A 0 Reference Bond Additional Information Issuance Year issued 1st Call Final Maturity Payment Dates Purpose of Issuance 3 Tax increment Revenue Bonds, Series 2004 A (Illinois Street) 2004 7/ 15/20147/15/20247 /15/11,1/15/12 To finance road and intersection improvements 1 2 COIT Revenue Refunding Bonds, 50511 2006 2006 12/15 /20122/15/20186 /15/11,12/15/11 To refund C01T Revenue Bonds of 1998 , which were originally issued for the acquisition and redevelopment of property in the City Center Redevelopment Area 2 i Tax Increment Revenue Bonds 002001 (City Center) 2008 7/15/2012 1/15/20291/15/11,7 /15/11 To refund 2003, 2004, 2005, and 2007 Notes that were issued to fund property acquisition and redevelopment projects located in or serving or benefiting the City Center Redevelopment Area or the 126th Street Corridor EDA 3 4 C01T Lease Rental Revenue Bonds 092005 (Performing Arts Center) 2005 2/1/2011 2/1/20337/11/11,1 /11/12 To finance the design and construction of a new performing arts center complex 4 Land Contract Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of issuance S Old Town Properties - Chaos - Parcel -931 2006 N/A 11/1/2016 First of every month Acquisition of Parcel 931 5 6 Dean & Dottie Harrill Parcel 14 2010 N/A 0/1/2015 First of every month Acquisition of Parcel 14 6 7 Bobby Jahn LLC 2011 N/A 8/2/2013 First of every month Acquisition of Property 7 0005911 1 of Participation - Additional Information issuance Year Issued 1st Cali Final Maturity Payment Dates Purpose of Issuance 8 Certificate of Participation. Series 2010 A 2010 1/ 15/1930 1/15/2035 7 /15/11, 1/15/12 To Provide for the development and construction ofa portion of the regional performing arts center B 9 Certificate of Participation, Series 2010 B 2010 N/A 1/15/20357/15/11,1 /15/12 To Provide for the development and construction of portion of the regional performing arts center 9 10 Certificate of Participation, Series 2010 C(Energy Center) 2012 7/ 15/2022 7/15/20357 /15/11,1/15/12 To Provide for the development and construction of a portion 00950 regional performing arts center 10 Installment Purchase Contract- Additional Information Issuance Year Issued ist Call Final Maturity Payment Dates Purpose of Issuance 31 8- 31.2005 100 Clancy Theater Equipment, Sound Equipment, and 5ECOA Seating (Mercantile Bank) 2009 N/A 7/1/ 2031 2/1/11.3/1/11,4 /1/11,5/1/11, 6/1/11,7/1/11, 8/1/11, 9/1/11, 10 /1/11, 11/1/11, 12 /1/11, 1/1/12 To provide Theater Equipment, Sound Equipment, and SECOA Seating 31 121 -29- 2010100 (National Bank of Indianapolis) 2010 N/A 7/1/20304 /1/11,7/1/11,10 /1/11,1/1/12 To Provide for the development and construction of portion of the regional performing arts center 12 131- 1-20051CO Contracts (Regions Bank) 2009 N/A 1 /1/ 20294 /1/11,7/1/11,10 /1/11,1/1/12 To Provide for the development and construction of portion of the regional performing arts center 13 145 -22- 2009100 Garage P47 Contracts (Regions Bank) 2009 N/A 1/1/20294/1/11,7 /1/11,1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 14 157 -26- 2010100 CfDC Contracts (Regions Bank) 2010 N/A 7/1/ 20304 /1/11,7/1/11,10 /1/11,1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 15 16 6- 10- 2010100 (United Fidelity Bank) 2010 N/A 1 /1/ 2029 4/1/11, 7/1/11, 10/1/11, 1/1/12 To Provide for the development and construction ofa portion of the regional performing arts center 16 17 12- 1.2011100 (Harris Bank) 2011 N/A 7/15/2033 1/15 and 7/15 To Provide for the development and construction ofa portion of Pecker 17 1112 -1 -2011 ICO(Harris Bank} 2011 N/A 7/15/2034 No Payments in 2012 To Provide for the development and construction ofa portion of Pedcor 18 19 12 -1 -2011 ICO (Harris Bank) 2011 N/A 7/15/2034 No Payments in 2012 To Provide for the development and construction ofa portion of Pedcor 19 Carmel Redevek nt Ccmmission Developer Bonds (Informational Purposes Only) As of February 29, 2012 Reference A 19 C D E F G Refernnec Original Issuance Outstanding June 2011 December 2011 1 Issuance (1) TIF Area (2) Amount Balance Maturity Collections (2) Collections (2) 1 2 Taxable Increment Revenue Bonds of 1998 (Merchants Square Project) Merchants Square 92,655,000 54640,000 2018 $281,593 5219,155 2 3 Taxable Economic Development Revenue Bonds, Series 2002 (Parkwood East Project) Parkwood East 3,560,000 2,955,000 2022 487,980 487,980 3 4 Taxable Economic Development Revenue Bonds, Series 2006 (Parkwood West Project; Parkwood Crossing 4,800,000 3,285,000 2026 660,752 316,518 4 5 Taxable Economic Development Revenue Bonds, Series 20068 (Buckingham - Gramercy Project) (3; Gramercy 20,000,000 148,107 2027 4 4 5 6 Taxable Economic Development Revenue Bonds of 2011 Meridian and Main 751,500 751,500 2031 0 0 6 7 Senior Economic Development Revenue Bonds, Series 2011A Arts District Lofts & Shoppes 9,630,000 9,630,000 2031 10,925 10,925 7 8 Subordinate Economic Development Revenue Bonds, Series 20118 (4; Arts District Lofts & Shoppes 3,370,000 2,370,000 2035 0 0 3 9 Total 544,766,500 $20,779,607 51,441,253 $1,034,582 9 10 10 11 (1) The CRC Payable portion of the debt service is limited up to the rota/ incremental revenues of the designated TTFa,a. Any debt service in excess of the increment revenues l /iable to the developer. The totol outstanding principal amounts seen above do not reflect° 11 12 direct obligation to the Carmel Redevelopment Commission. 12 13 13 14 (2) All collections ore allocated to the developer payments with the exception of the Taxable Economic Development Revenue Bonds of 2011, only 50% of the total of the increment generated 0 pledged towards payment of the bonds. 14 15 15 16 (3) The Bonds were issued as draw bonds. The amount shown represents the amount of principal drawn down and outstanding per the Trustee. 16 17 17 18 (a) The Bonds were issued cs draw bonds. The amount shown represents the amount of principal drawn down and outstanding per the officio; Brows scheduled in the Issuance Offering Documents. 18 19 19 Carmel Redeveloh...,ent Commission Installment Purchase Contracts - Summary As of February 29, 2012 B Description Amount Original Contract Available $57,500,000 Plus: Renewed NBI Contracts 860,000 Less: Current Contract Obligations 56,305,538 Less: Installment Contracts Due 127,639 Less: Attorney Fees 357,701 Less: Bank Fees and Wire Fees 112,896 Less: Closing Costs 219,500 Less: Design Fees 800,000 Less: Retention Hold (Mercantile) 13,303 Add: lnterest 24 417 Remaining Available for Contracts $447,840 -4- Carmel Redevelo, .ant Commission Installment Purchase Contracts - Mercantile $10,000,000 As of February 29, 2012 Reference I A ( B 1 C I D I E Reference 1 1 2 Contract Name 8/31/2009 ICO Clancy Theater Equipment, Sound Equipment, and SECOA Seating 2 3 3 4 4 5 IPC # Vendor Bank Equipment/Contract Contracts 5 6 Mercantile Mercantile Capitalized Payment $ 127,639.00 6 7 1 JR Clancy Mercantile Theater Equipment $ 6,990,040 7 8 2 SECOA Mercantile Theater Seating $ 776,883 8 9 3 All Pro Sound Mercantile Sound Equipment $ 1,530,970 9 10 4 Smock Fansler Mercantile Hanover Square Improvements $ 331,500 10 11 Total $ 9,629,393 11 12 Original Contact Amount $10,000,000 Less: Current Obligations 9,629,393 Less: Closing Costs 219,500 Less: Installment Obligations Due 127,639 Less: Retention Held 13,303 Less: Wire Fees 360 Remaining Available for Contracts S9.806 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 -4A- Carmel Redevelo, ant Commission Installment Purchase Contracts - NBI $10,000,000 As of February 29, 2012 Reference A I B I C I D 1 E Reference 1 1 2 Contract Name 1/29/2010 ICO 2 3 IPC# Vendor Bank Equipment /Contract Contracts 3 4 1 Bybee Stone NBI Limestone $ 3,215,420 4 5 2 Horning Roofing NBI Red Clay Tile Roofing $ 419,400 5 6 3 Certified Floorcovering NBI Carpet and Tile $ 467,525 6 7 4 Cincinnati Floor Company NBI Wood Flooring for Auditorium, Stage, and Suites $ 694,459 7 8 5 Gibraltar NBI Veteran's Way $ 1,914,078 8 9 6 Signature NBI City Center Dr. /Rangeline Rd. Streetscape $ 1,459,095 9 10 7 Sign -A -Rama NBI Wayfinding Signage Improvements $ 72,658 10 11 8 C &T Design NBI Cafe Equipment $ 30,345 11 12 9 Indy Stage and Sales NBI Lighting Equipment $ 43,495 12 13 10 Alexis Manufacturing NBI Seating $ 10,861 13 14 11 PS Furniture NBI Furniture $ 4,690 14 15 12 Smock NBI Motor Court lmprovements $ 51,598 15 16 13 C &T Design NBI Kitchen Equipment $ 7,833 16 17 14 Brenner Design NBI FF &E $ 198,156 17 18 15 Antresian NBI Bar Equipment $ 25,000 18 19 16 Series, LLC NBI Custom Chairs $ 22,564 19 20 17 Harmon Signs NBI Parcel 7C Venues Signage $ 177,000 20 21 18 Indy Stage and Sales NBI Studio Theater Lighting $ 25,000 21 22 19 Indy Stage and Sales NBI Tarkington Theater Lighting $ 39,416 22 23 20 Indiana Store Fixture NBI Gift Shop Improvements $ 60,000 23 24 21 Bybee Stone NBI Stone Planters $ 457,000 24 25 N/A Parcel 16 Land Purchase NBI Parcel 16 Land Purchase $ 860,503 25 26 Total $ 10,256,095 26 Original Contact Amount $10,000,000 Plus Renewed Contract Amounts 860,000 Less: Current Obligations 10,256,095 Less Bank Fees 37,500 Less: WSH Legal Fees 157,400 Less: Hall Render Legal Fees 30,930 Less: Wire Fees 36 Add: lnterest Earned * 24,417 Remaining Available for Contracts 5402,456 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 *Note - Earned interest is due to funds deposited in a Capital Money Market Savings Account. 36 36 -4B- Carmel Redevelc, .ant Commission Installment Purchase Contracts - Regions $17,500,000 and $7,500,000 As of February 29, 2012 Reference A I B I C I D I E Reference 1 1 2 Contract Name 1/1/2009 ICO Contracts 2 3 3 4 IPC # Vendor Bank Equipment /Contract Contracts 4 5 Various Regions P47 Garage $ 8,825,000 5 6 1 Ermco Regions Lighting Fixtures and Generator $ 3,034,000 6 7 2 Waltek Regions Acoustical Canopy $ 1,111,932 7 8 3 IndyStage and Sales Regions Production Lighting $ 765,374 8 9 4 Poynter Regions Air Handlers, Fans, VAV Boxes $ 1,005,000 9 10 5 Ebenisterie Beaubois Regions Mill Work $ 3,165,282 10 11 11 12 6 WR Dunkin Regions Elevators, Fire Protection, and Pumps $ 2,208,370 12 13 6 Simplex Grinnell Regions Elevators, Fire Protection, and Pumps $ 629,930 13 14 6 General Piping Regions Elevators, Fire Protection, and Pumps $ 614,483 14 15 Total $ 3,452,782 15 16 7 Spohn Associates Regions Interior Ornamental $ 2,100,157 16 17 7 Leach and Russell Regions Interior Ornamental $ 573,000 17 18 Total $ 2,673,157 18 19 8 Brad Howe Regions Sculpture Improvements $ 80,000.00 19 20 9 Incord Regions Pit Safety Equipment $ 6,643.00 20 21 10 Esco Communications Regions Microphone Equipment $ 51,607 21 22 11 Morphey Construction Regions Signage Improvements $ 20,000 22 23 Total $ 24,190,777 23 24 24 25 Original Contact Amount $25,000,000 25 26 Less: Current Obligations 24,190,777 26 27 Less: Design Fees 800,000 27 28 Remaining Available for Contracts 9 223 28 29 29 30 Note - The above information is for the combined Regions $17,500,000 and 57,500,000 obligations 30 -4C- Original Contact Amount $10,000,000 Less: Current Obligations 9,729,273 Less: Bank Fees 75,000 Less WSH Legal Fees 65,821 Less: Other Legal Fees 101✓_550 Remaining Available for Contracts A26356 I4 !Alexis Manufacturing 5 Gibraltar D w 3 Chance Bros. 3 Diversified 3 (Poynter 3 Ermco 3 Circle 3 GPI 1 Gibraltar 2 Office Works, LLC A f 3 I C ( D J E Contract Name '7 -26 -2010 CTDC Contracts Esco Communications Wenger Gibraltar Office Works, LLC Indy Stage and Sales Argo Chem East Smock Fansler Signature Construction Indy Stage and Sales 630040r Electric Meyer Najem REI Construction BAM Equipment Gibraltar Construction Dodd Technologies Indianapolis Stage The Sculpture Foundation Sensory Technologies T T gerOirect com Advantage Opitcs Van Ausdall & Farrar Smock of ever Telecom Placement '3 9 Gibraltar Lefever Meyer Najem Tarkington Equipment Carts and Seating Garage West Wall Improvements Furniture for the Cafe Motor Court Exterior Wall Speakers Equipment Tarkington Fixtures De-Icing Equipment Fountain Rough -in Fountain Rough.in Tarkington Stage Equipment Amphitheater Equipment and Improvements Defibrillator Equipment Piano Equipment Amphitheater Equipment and Improvements Amphitheater Equipment and Improvements Lifts, Lighting, and Rigging Equipment Amphitheater Equipment and Improvements Lifts, Lighting, and Rigging Equipment Lifts, Lighting, and Rigging Equipment _- — Concert Hall Catering Equipment Musical Equipment Sculptures Monitoring Equipment Camera Equipment Catering Computer System and Software PAC 506001e Box Office Computer Equipment Network Switches Optical Electronic Modules Motor Court Improvements Motor Court Improvements Motor Court Improvements Decorative Fountains Motor Court Improvements Computers and Servers Decorative Fountains Security Equipment Security Equipment Green Improvements Box Office, Phone System, and Music Equipment Box Office, Phone System, and Music Equipment Green Improvements Green Improvements IPAC Loose Seating PAC Retaining Wall /Vault Cladding Cafe Improvements Cafe Improvements Cafe Improvements Cafe Improvements (Cafe Improvements Cafe Improvements Cafe Improvements Cafe Improvements Hardscape PAC FF &E Equipment/Contract w w 000$. w w �g w w 88 8800m000wo0. w w w w w H w w €> w w w w w w ti w M ..., w w w w w w u w w w w w w w 0 w w w w N N o.toawN'4,'" N w N w w N N w w N 0-0-0 'emoo w w w w §A