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Home My WebLink AboutFInancials March 2012CARMEL REDEVELOPMENT COMMISSION Financial Information Packet For the Month Ending March 31, 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 Appendix A - Analysis of December 2011 TIF Collections A -1 rot C1,1110.'611. 711,7 Carmel Redevelo, .t Commission Month and Year to Date Revenue Budget Analysis For the Month Ending March 31, 2012 Reference A 1 8 J C 1 0 1 E 1 F 1 0 1 H I 1 1 1 1 K Reference 1 1 2 Current Month Comments Current Year Budget 2 % YTD 3 aisigg Actual 5 Variance Proposed Adiustmentk Revised YTD $ Remaining Recognized 3 4 RECEIPTS - NON OPERATING , 4 5 Line of Credit Draws 8800,965 302,965 80 51,929,069 81,929,069 51,834,657 594,412 95.11% 5 6 Line of Credit Repayments 0 0 0 0 0 0 0 0.00% 6 7 TIF Revenue, Net of Developer Pass Through 0 0 0 17,664,443 17,664,443 13301,1111 18,468,946 -4.55% 7 8 NBI Installment Purchase Contract 0 0 0 860,000 160,000 457,000 403,000 53.1439 3 9 Regions Installment Purchase Contract 0 0 0 225,000 225,000 0 225,000 0.0036 9 10 Installment Purchase Contract 0 0 0 2,000,000 2,000,000 0 2,000,000 000% 10 Draw dld not take place due to the postponing of the Stile] Sexton 11 \Wells Fargo 150,819 0 (130.33.9) promissory note 354,960 354,960 96,753 258,207 27.26% 11 12 12 13 TOTAL REVENUES . NON OPERATING 951,784 (11,0,320) 23,633,972 23,033,472 1,583,907 21,449,565 6.8839 13 14 14 15 15 16 16 17 17 18 RECEIPTS - OPERATING 18 19 Line of Credit Draws 242,004 242,004 0 0 0 309,052 iniiiiibeiLi 0,00% 19 20 Line of Credit Repayments 0 0 0 0 0 0 0 00036 20 21 Parcel 7a roof repair reimbursement 0 0 3000,000 3,000,000 0 3,000,000 0,00% 21 We did not anticipate receiving the Center for the PerforrrLng Arts energy 22 Energy Center payments 10,838 26,922 15,084 payment 000006 268 end of March 448,000 448,000 97,111 350,889 21.68% 22 23 Parking Surcharge 11,843 11,843 0 186,000 188,000 38,743 147,257 20.83% 23 24 Parcel 7 Ten8nts' Rent 48,787 48,787 0 338,349 338,349 146,361 191,988 43.26% 24 25 Keystone Group, 110 Receivable 0 0 0 200,000 200,000 0 200,000 0.00% 25 The 861,763 was a reimbursement from an Escrow account for retention paid by CRC. This was not contempalted before 26 Miscellaneous revenue 3,000 64,763 61,763 last month's meeting. 70,000 70,000 65,518 4,482 95.69% 06 27 Inc of Credit Grant from 4CDC to CPAF 485,000 485,000 0 3,000,000 3,000,000 1,613,571 1,386,409 53.79% 27 28 Line of Credit Grant from 4060 0 0 2 0 0 0 0,0036 28 29 29 30 TOTAL REVENUES ,- OPERATING 801,472 579,319 77,847 7,242,349 7,242,349 2,270,356 4,971,993 31.3506 30 31 31 32 TOTAL REVENUES - COMBINED 91,753,256 '31.,"/..'3,..,?,5fl 830,275,821 $30,275,821 53,854,263 526,421,558 32 35 33 34 34 35 35 36 36 -1A- gel AMon h nm 8u6. Analyala For She Montt EaipNa ch 3Y. 2012 013000 A E r I o T H 1 J K Refer Current Mon. Comments Cunene Vmer Budget 7, MID Budget Actual $ Merlen., Paaoxm2 AHluvtmenta pevl030 5 R 0134 ...10.1 3 ES .NON OPERATING Can8N0ction P PAC Sunsnuctlan /patenrlon AC Ce nardtanta 5150,614 16,655 5819 5T60.L'AD on for lY be0150000 Meek to Shiel0ex 4pre ni u. we n e wai 2 n v . on confirmaxlort to me N(M1e interau'Y rain .11 be lowered before proecaedine 935.00,04 51,560,000 5336,6.17 51,413,483 1 8,650 103,000 860,000 10,000 '0°9 .;°0°0'0 50,858 957,000 52,102 403,000 9 4244 53.1Fl°A 8 8 Pal. 1.4 Land,,03 0 RPAf. TM1antsr Equ ipment 0 0 U 225,0013 225,000 3ie7 ;21,.71} e le genus {I M, age eat D 0 727,000 707,000 0 177,000 O.Oa'Y. 10 Y1 Pmuel5 6,325 0325 0 12tl004 120,000 34,220 85,220 12 Parcels Paam tl 0 0 0 1.25,000 1.950,000 0 1.250000 o OW,4' 13 Parcels ,0577 +e ll Issuance 70520 o 4 0 250.600 250,000 0 050000 Parcel 475treetscape 50,435 50,435 O 251,200 76 17],332 29.�;a� SS Demoli . ml.10 Devalues p 200,000 360,000 ,86 0 20,000 0.00, 15 14 non Trail Reu;zlorrc 0 0 100,000 100000 4 100,000 16 17 Morel La ndscaping 457 451 0 40,000 40,040 6,797 33,203 16,99% Mer PrOdptls 5.774 5,274 850,000 85 94,529 )35,471 11.12% 18 19 4040 Grant 0 0 0 0 0,0000 19 20 Pe Yr n06ursharrze 11,898 11,943 136,000 186,004 32,793 147,252 20.84% 20 21 Parcel 7 Ter.. rier, 48,78 . .el... eY 5137,636 D the Invoicm that was atldatl onto lee Marcn 201;... for 201.1 rents due. 358349 33834 3394 21 ki g t 'on 00e., 0 304,000 964,00 3033692 107,23 22 , P Leegal OWr 4 24 Fees 101,066 101,065 0 600,000 600,000 178,540 411.460 25 0r40/909inee0i30 66,545 68,643 600.000 845,000 150,496 469,500 24.370 25 26 4n11n3 €ee0 42,524 4 2,534 0 45,000 49,615 385 5014:"° 27 la act. 9 0 000 ",t 27 Parcel 7,00 Pe nv Y.ma 9000 12,458 19,000 0 238,000 228,000 57,000 171,900 2500% 28 29 Parcel 031210 land acqulsidon 2,436 0 39,294 29,230 7,308 71,9;; 2500% 3A 30 Parel 14 Morrill Property Purchase 10.000 ]0.000 0 1260e0 191,500 60,000 29000 Bobby Jehn, LLD 7,625 7,625 91,500 20,815 A rid N 0.200909033100 A 0 U 3,21 3,802 9213,802 3,39305 ■00140 1 6 33 2005 PADS,. 0 4 n 8200,800 5,200,000 5,200000 0.008 53 34 InstaPment PUrchasn Contract Payment, 717,274 283,041 433,233 r difference Is Regions ,2,00aons rber wore due on 00017th and we wanted to eel 061 approved ahead el the April metnngM order, assure there was adegmter 117702 to cover this. 9861.807 8561,607 530,000 7,631587 IDS. 3p 39 Contract Pure .ve AdmInL +trotlye Eaos 40 830 44,630 tl 245,000 fi 9 175,134 20,033 35 36 ACM Grant. Line of 400 000 100 013stEmenM 0 150,000 150,00D ,866 0 150,000 0200. 31 TOTAL 000000050RES -won OPERATING 1,306192 860.595 '27068,688 0 27,068.588 7,0'03,492 2 _ 0,065,196 2587, 00 39 38 41 EXPENDITUR25: OPERATING 42 Opera Operatbn „and MO�menanee 0 4.00.7 42 43 Operm.s. 45,777 93,585 17.17 The difference is live weeks wonX or payroll Yhag was pa::d In March versus leer weeks worth al %Arum. payroll that was approved 0 March 640490 640,53,0 131.775 502.254 20.515 42 Marketing/Events 8,893 8,393 500 77.5500 Mackior Midwest UBhesgapes than was approved at March's meeting was pond In la,, February 210,4,00 270,000 72,714 247,276 64 ;% 45 Merketing /Business Development 13,650 13,650 0 201.500 201500 0,250 17/,096 45 O6 [RC Leafe 7,042 Yp42 0 95226 38,223 '21122 21512, ] Oki.. 2,33es and Carme1025 lease 5,538 5,538 0 50,000 50r100 8.625 41.375 17.25, 47 42 Parcel ]c Energy Conh•rtl01113m 20.782 differ Mould have 'a mn la01.162 uded In lh3 t0rw020 bu, wa.n.. Howeves,thl. 01.3.2 ca 4a, 20 approved for payment. 450,000 450000 100256 345,744 23.17 0 48 49 Parml1C Management Pea 13,000 13 00 0 100,000 100,000 1500D 87,000 13.0052 50 Parcel lC 001.0 GM 0 0 0 25,08.0 2'3.024 2].6 §< 50 52 of 70 CPA0 /01,12 140 Parcel 38.658 38,658 0 330,000 000,040 36,658 291,342 lO Shapira, 1,000 1,000 0 12,000 52000 4000 3,0001 3333 %0 52 98 Line of Credit Grant to CPAF 483,000 425,000 p 3,000000 609.246 1,386,425 53.7996 53 Way Ynaw hemoval 27,562 350,000 350000 111 °, 70.00% 55 Prolgxei .Pees U 0 .75 Legal Fens 21,338 21,338 210,000 210,000 52,202 157,0'18 54,30%77 56 ry /8npineerin8 20000 20,000 2,251 87,749 11.2596 57 10177x.0 bees 15,286 15,289 203,000 003,000 34.761 239 17.1256 50 93 59 Planning, Apmalaah, Engineer Gneuktln0 88520 86,520 315,000 315,000 115,110 198790 38,57, 59 ' - L 345 3,818 The difference Is two approved ice n700349uld have been In traded In she forecast but wasn't. However these were approved far payment 50,000 56000 31046 62,0994 60 Cl) G LIne or O,redtlrierest Expense 9040 1>1,OIXf 0 , 02 TOTAL EPPENPRORES OPERATING 792,116 809,262 :1.110.1 6556 253 0 5656253 4306254 4249 989 35,18% 53 e4 52,104,311 51,669,857 9434354 , 30 003,504911 59,309,706 320315,165 27.60%, 63 6A 00T44697E04174300. 004481030 65 -10. Carmel Redevel: ant Commission Summary of Cash and Cash Rights For the Month Ending March 31, 2012 Reference A 1 5 G 0 ( E F G I H 1 J K Reference 1 i z 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 3 Cash and Rights Balance 311112 3 4 1101 Cash 5 9,704.80 $ - $ - $ - $ - S - $ - $ - $ - $ - $ 9,704.80 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 - - - - - - - - - 3.30991 7 8 CRC Star Bank - 97.575.12 - - - - - _ _ _ 97.575.12 a 9 4807257943 BMO Harris Bank - 68,625.17 - - - - - - - - 68,625.17 10 87504111 Regions Bank - 219 017.61 - - - - - - - - 219,017.61 10 11 Wells Fargo - Energy Center Sale - - 259,209.98 - - - 259,209.98 i 1 12 Cash Rights - - 1,671,865.00 315.43800 - 1.386,771.11 2,310,179.00 1,202.310.28 107,213.73 2,476,097.00 9,469,874.12 12 19 Total Cash $ 22,775.28 $ 385,217.90 $ 1,671,865.00 $ 315,438.00 $ 259.209.98 $ 1.386,771.11 $ 2,310,179,00 $ 1,202.310.28 $ 107,213.73 0 2,476,097.00 $ 10,137.077.28 13 14 14 15 Receipts 15 16 Clerk- Treasurer Funds $ - $ - $ - $ - $ - $ - 5 - 5 - $ - S - S - 16 17 Developer Payments - - - - _ - - to CRC Star Bank 48.787.00 - - - - - - - - 48,787.00 15 19 4807257943 BMO Hares Bank - - - - - - - - _ - 19 20 87504111 Regions Bank - 103,526.73 - - - - - - - - 103,526.73 20 21 Transfer - March /12 - - - - - (343,801.36) - - 2,401,759.21 (2,057957.85) - 21 22 Transfer - 3/23/12 - 1.042.969.75 - - - (1.042.969.75) - - - - 22 23 Transfer- /12 - 485,000.00 - - - - (485,000.00) - - - - 23 24 Transfer -/12 - - - _ _ 24 25 Total Receipts $ - $ 1.680,283.48 S - 5 - $ - $ (1,386,771.11) $ (485,000.00) $ - 5 2.401,759.21 $ (2.057,957.85) 0 152,313.73 25 26 26 27 Disbursements 27 28 Clerk - Treasurer Funds $ 266.54 S - $ - $ - $ - $ - $ - $ - $ - $ - $ 266.54 23 26 PAC - - - - - - - - - - - 29 30 Non -PAC - - - - - - _ _ _ _ _ 30 01 CRC Funds _ 31 32 CRC Star Bank - - - - - - _ _ _ - - 32 33 4807257943 BMO Harris Bank - 16.44 - - - - - - - - 16.44 33 34 87504111 Regions Bank - - 34 35 Installment Contract Loans - - - - - - - - - - _ 35 CPAF 485,000.00 36 PAC - - - - - - - _ _ - - 35 37 Non -PAC - 1.184.574.29 - - - - - - _ 1,184574.29 37 38 4000 LOC Approved Draws - - - - - - - 4,719.18 8,972.94 - 13,692.12 38 39 Total Disbursements $ 266.54 $ 1,669,590.73 $ - $ - $ - $ - $ _ $ 4,719.18 $ 8,972.94 $ - $ 1,184,857.27 39 40 40 41 1101 Cash $ 9,438.26 $ - $ - $ - $ _ $ _ $ _ $ - $ - $ _ $ 9.438.26 42 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 - 146,362.12 - - - - - - - - 146.362.12 45 46 4807257943 BMO Harris Bank - 68,608.73 - - - - _ _ _ - 68,608.73 46 47 87504111 Regions Bank - 180,939.80 - - - - - _ - - 180,939.80 47 48 Wells Fargo - Energy Center Sale - - - 259,209.98 - - - 259,209.98 48 49 Cash Rights - - 1,671,865.00 315,438.00 - 0.00 1,825.179.00 1.197,591.10 2.500.000.00 418,139.15 7,928.212.25 49 50 Cash and Rights Balance 3/31/12 $ 22,508.74 $ 395,910.65 $ 1,671,865.00 $ 315,438.00 $ 259,209.98 $ 0.00 $ 1,825,179.00 $ 1,197,591.10 5 2.500.000.00 $ 418,139.15 $ 9,154,533.74 50 51 Total Operating Balance (7) (1) Represents funds that are held by the Clerk - Treasurers Once (2) Represents funds that are held in Accounts controlled by the Carmel (3) Represents remaining Inds from the 58,000,000 bank loan closed in (4) Represents remaining funs from the 712,500,000 bank loan closed (5) Represents remaining funds from the Certificates of Partiapetion. Series (6) Represents remaining funds from Line of Credit with the indicated Financial (7) Total operating Balance Is the sum of the ending Cash and Cash Rights 4070 4000 of Credit Funds are granted Porn the 4000 end CRC Funds 51 52 418,419.39 52 53 Redevelopment Commission 2010 and held by the in 2011 and held by the 2010 G (Energy Center) Institution, Line for the Clerk - Treasurer 53 54 54 55 55 56 56 57 57 58 58 59 55 no 60 -1G Carmel Redevelo, ..mt Commission Debt Summary For the Year Ending December 31, 2012 Reference A B C D E F G H 1 1 K Reference Old Town Properties - Chaos - 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 (21 Second Installment (21 Dean & Dottie Harrill Parcel 14 1 Tax Increment Revenue Bonds, Series 2004 A (Illinois Street) Bond TIF 59,000,000 6.650% 57,670,000 5410,000 5503,405 5913,405 5455,028 5453,378 1 2 CUT Revenue Refunding Bonds, Series 2006 Bond 119 5,580,000 5.250 - 5.270% 5,580,000 685,000 281,996 966,996 485,341 481,654 2 3 Tax Increment Revenue Bonds 06 2000 (City Center) Bond TIF 14,000,000 5.820 - 7.800% 12,935,000 395,000 933,401 1,333,401 667,053 556,349 3 4 Lease Rental Revenue Bonds, Series 2005 (PAC Bonds) Lease TIF 79,998,227 4.000 - 5.000% 75,131,081 1,284,00$ 3,910,996 5,195,000 2,600,000 2600,000 4 Ib Tota 109,078,227 101,316,081 2,774,005 $5,634,797 58,408,802 4,207,421 $4,206,381 Srtb Totolu 2,515,174 2,158,453 586,979 8153,751 5240,730 620,061 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 - Chaos - Parcel -931 Contract TIF 5341,174 6.000% 5322,608 59,560 $19,670 529,290 02,436 5 6 Dean & Dottie Harrill Parcel 14 Contract TT 874,000 8.000% 546,543 73,072 46,928 120,000 10,000 6 7 Bobby lohn,11.0 Contract TiF 1,300,000 6.770% 1,289,302 4,348 37,152 91,500 7,625 4.590 - 6.0000 Srtb Totolu 2,515,174 2,158,453 586,979 8153,751 5240,730 620,061 Totals 56,715,000 56,715,000 $0 54,238,050 594,762 54,332,812 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 5315,081 Total 825,000 5802,301 Certificate of Participation (COP) Type Source Debt Amount Interest Rate Amount Principal Due (1) Interest Due (1) Fees (3) Debt Service Reference 8 Certificate of Participation, Series 2010 A COP TIF 537,905,000 7.750 - 8.000% 537,905,000 50 52,979,900 531,587 53,011,407 4.590 - 6.0000 9 Certificate of 9a30cipation, Series 2010 0 COP TIF 2,510,000 9.250% 2,510,000 0 232,175 31,587 263,762 TIF 10 Certificate of Participation, Series 2010 0 (Energy Center; COP TIF 16,300,000 5.750 - 6.500% 16,300,000 0 1,025,975 31,587 1,057,562 10 Totals 56,715,000 56,715,000 $0 54,238,050 594,762 54,332,812 Sub Totals Grand Total 530,530,000 3248,303,401 $79,770,745 52,017,623 $2,586,781 6117,770 54.722,173 8447,840 5239,560,276 54,378,607 512,613,379 $212,532 $17,709,518 $447,840 (1) Total debt servic, amount is per amortization schedules of luvonce (2) rnrol semi annLal lease poyment for the Leese Rent, Revenue Bonris,Senes 2005 (PAC Sonds) enuo, re onnuni dentsenece phrs 8,0,813872. (3) Represent PcIrtunistratme fees pc, on each contract: (4) Connors ore co/1,1,Eu by RE to provide deve,pment nerl ronctruction for north, of the regional performing arts center (St Confrocts ore used for the PP.Or Developer Bond Refinancing 00300 finance 303rn393790000 n Development -2- 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 8-31-2009 ICO Clancy Theater Equipment, Sound Equipment, and SECOA Seating (Mercantile Bank) IPC TIF 510,000,000 4.750 - 6.000% $9,847,952 5315,081 5462,221 825,000 5802,301 39,806 4A 12 1-29-2010100 (NBI) IPC TIF 10,000,000 5.340 - 6.000% 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 4.590 - 6.0000 17,090,910 567,652 735,992 23,929 1,377,572 9,223 40 13 14 5-22-2009 ICO Garage P47 Contracts (Regions Bank) IPC TIF 7,500,000 4.960 - 6.000% 7,331,883 329,841 269,548 23,929 623,317 0 4C 14 7-26-2010100 CMG Contracts (Regions Bank) IPC TIF 10,000,000 5.240 - 6.0000 10,000,000 531,776 143,903 13,662 689,341 26,356 4D 15 16 6-10-2010 ICO ()Jnited 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 17 12-1-2011100 (Harris Bank) IPC TIF 17,500,000 3.000% 17,500,000 0 316,809 0 116,809 0 5/3 )6) 18 124-2011100 (Harris Bank) (PC TIF 4,500,000 3.500% 4,500,000 0 0 0 0 0 N/A (5) 10 19 12-1-2011100 (Harris Bank) IPC TIF 1,000,000 3.500% 1,000,000 0 0 0 0 0 9,00(5) 19 Sub Totals Grand Total 530,530,000 3248,303,401 $79,770,745 52,017,623 $2,586,781 6117,770 54.722,173 8447,840 5239,560,276 54,378,607 512,613,379 $212,532 $17,709,518 $447,840 (1) Total debt servic, amount is per amortization schedules of luvonce (2) rnrol semi annLal lease poyment for the Leese Rent, Revenue Bonris,Senes 2005 (PAC Sonds) enuo, re onnuni dentsenece phrs 8,0,813872. (3) Represent PcIrtunistratme fees pc, on each contract: (4) Connors ore co/1,1,Eu by RE to provide deve,pment nerl ronctruction for north, of the regional performing arts center (St Confrocts ore used for the PP.Or Developer Bond Refinancing 00300 finance 303rn393790000 n Development -2- Carmel Redevelo8 it Commission Debt Summary - Additional Information For the Year Ending December 31, 2012 Reference A 8 C D E F Reference Bond Additional Information Issuance Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of Issuance 8 1 Tax Increment Revenue Bonds, Series 2004 A (Illinois Street) 2004 7/15/2014 7/15/2024 7/15/11, 1/15/12 To finance road and intersection improvements 1 2 Corp Revenue Refunding Bonds, Series 2006 2006 :2/15/2012 2/15/20186/15/11,12 /15/11 To refund CCIT Revenue Bonds of 1908 , which were originally issued for the acquisition and redevelopment of property in the City Center Redevelopment Area 2 3 Tax Increment Revenue Bonds 052008 (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 032005 (Performing Arts Center) 2005 2/1/2011 2/1/2033 7/11/11, 1 /11/12 To finance the design and construction of a new performing arts center complex 4 11 Land Contract Additional Information 2009 Issuance Year Issued 1st Call Final Maturity Payment Datee Purpose of Issuance (National Bank of Indianapolis) S Old Town Properties - Chaos- Parcel -931 2000 N/A 11/1/2016 First of every month Acquisition of Parcel 931 5 9 Dean & Dottie Harrill Parcel 14 2010 N/A 1/1/2015 First of every month Acquisition of Parcel 14 6 7 Bobby John LLC 2011 N/A 3/2/2013 First of every month Acquisition of Property 7 Certifica e of Participation - Additional Information Issuance Year issued 1st Call Final Maturity Payment Dates Purpose of Issuance 8 Certificate of Participation, Series 20108 2010 1/15/1930 1 /15/20357/15/11,1 /15/12 To Provide for the development and construction of a portion of the regional performing arts center e 9 Certificate of Participation, Series 2010 8 2010 N/A 1/15/2035 7/15/11, 1 /15/12 To Provide for the development and construction of a portion of the regional performing arts center 9 10 Certificate of Participation. Series 2010 C (Energy Center) 2010 7/15/2022 7/15/20357 /15/11,1 /15/12 To Provide for the development and construction of a portion of the regional performing arts center 10 I nrtallment Purchase Contract - Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of Issuance 11 8-31-2009100 Clancy Theater Equipment, Sound Equipment, and SECOA Seating (Mercantile Bank) 2009 N/A 7/1/ 203110 2/1/11,3/1/11,4 /1/11,5/1/11, 6/1/11, 7 /1/11, 8/1/11, 9/1/11, /1/11,11/1/11,12 /1/11,1/1/12 To provide Theater Equipment, Sound Equipment, and 5ECOA Seating 11 121-29-2010100 (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 a portion of the regional performing arts center 12 131 - 1.2009 ICO 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 a portion of the regional performing arts center 13 14 5 -72- 2009100 Garage P47 Contracts (Regions Bank) 2009 N/A 1/1/2029 4 /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 -2010 IO2 Cr0C Contracts (Regions Bank) 2010 5/4 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 6-10-2010100 (United Fidelity Bank) 2010 N/A 1 /1/ 20294 /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 16 17 12-1-2011100 (Harris Bank) 2011 N/A 7/15/20331/15 and 7/15 To Provide for the development and construction of a portion of Pedcor 17 1812 -1- 2011100 (Harris Bank) 2011 N/A 7/15/2034 No Payments in 2012 To Provide for the development and construction of a portion of Pedcor 18 19 12- 0.2011 ICC (Harris Bank) 2011 N/A 7/15/2034 No Payments M 2012 To Provide for the development and construction of a portion of Pedcor 19 Carmel Redevelo, -nt Commission Developer Bonds (Informational Purposes Only) As of March 31, 2012 Rcfcrenoe A B C D E F G Refrence 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 52,655,000 51,640,000 2018 5281,593 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 S Taxable Economic Development Revenue Bonds, Series 20066 (Buckingham - Gramercy Project) (3; Gramercy 20,000,000 148,107 2027 4 4 9 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 2011B (4; Arts District Lofts & Shoppes 3,370,000 2,370,000 2035 0 0 9 9 Total 544,766,500 520,779,607 51,441,253 51,034,582 9 10 10 11 (1) The CRC Payable portion of the debt service is limited up to the total incremental revenues of the designated TIF ores. Any debt service in excess of the increment revenues I liable to the developer. The total outstanding principal amounts seen above do not reflect° 11 12 direct obligation to the Carmel Redevelopment Commission. 12 13 13 14 (2) All collections are allocated to the developer payments with the exception of the Taxable Economic Development Revenue Bonds of 2421, only 500 of the total of the increment generated is pledged rewords payment of the bonds. 14 15 li 16 (3) The Bonds were issued as draw bonds. The amauntshown represents the amount of principal drown down and outstanding per the Trustee. 16 17 17 18 (4) The Bonds were issued as draw bonds. The amount shown represents the amount of principal drawn down and outstanding per the official draws scheduled in the Issuance Offering Documents. 19 19 19 Carmel Redevelo6...ent Commission 4CDC Grant Obligations As of March 31, 2012 Reference A B 0 H Reference 2 4 5 8 10 11 12 13 14 15 16 17 18 19 20 21 22 Current Gran88 /Obliga ions Closing Original Current Amount Use of Primary Bank Type Interest Rate Date Maturity Debt Amount Balance Available for Use Proceeds Repayment Option Star Financial Bank Fowler State Bank LOC LOC LIBOR plus 3.50% Floating 4.50% Floating 11/8/2011 11/8/2011 11/7/2012 11/7/2012 35,000,000 2,500,000 $3,174,821 0 $1,825179 2,500,000 ? - ire ` TIF TIF Marne Bank LOC 4.50% Floating 11/30/2011 11/29/2012 2,500000 1,302,409 1,1975911* TIF Mercantile LOC 4.5 %=Floating 1/18/2012 1/17/2013 2,500,000 2,500,000 TIF BMO Harris Bank LOC LIBOR plus 275 %Floatng 2/17/2012 2/16/2013 2,500,000 2,081,861 418,139 ?>% 'ai "r'':s'r" m +k'€ TIF BMO Harris Bank Bank Loan 0.97% Fixed Rate 9/30/2011 9/30/2016 12,500,000 12,184,562 315,438 Pay Construction Costs on Office Building One TIF Lake City Bank Bank Loan 5.00% Floating Rate 12/28/2010 12/28/2012 1,000,000 6,328,135 1, 671,365 Parcel 45 - Veterans Way Street Extension and Hot and Cold Water line extension and retrofit of City 85 lding TIF Total 3. 3.5/2,9 /3 $2i.57 ,1.788 $792812 2 3 4 5 6 7 10 11 12 13 14 15 16 17 18 19 20 21 22 Carmel Redevelc,_ .lent Commission Installment Purchase Contracts - Summary As of March 31, 2012 Reference A 5 ICI 0 I E I I J H K Reference 2 4 5 6 7 a 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 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: Interest 24,417 Remaining Available for Contracts 5447,840 -4- 2 3 4 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Carmel Redevelo, .ent Commission Installment Purchase Contracts - Summary As of March 31, 2012 Reference 1 A I B I 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 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 $_9_,_8(16 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 -4A- Carmel Redevelor.. gent Commission Installment Purchase Contracts - Summary As of March 31, 2012 Reference A I B I C I D I 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 Improvements $ 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: Interest Earned * 24,417 Remaining Available for Contracts $402,456 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 Capita( Money Market Savings Account. 36 36 -4B- Carmel Redeveh,,.. rent Commission Installment Purchase Contracts - Summary As of March 31, 2012 Reference A I B I C 1 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 Indy Stage 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 $7,500,000 obligations 30 -4C- N o 2 w 2 m N D w N m 6 2 ' �' w N > it a e w m w > e m w ti o m e m m w N, 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 103%50 Remaining Available for Contracts 26356 t w N o 6' V, " m a> a w w w w o m w a w N N N ti o tO ,0 m m w m v u m m m t., a w w w w w w w w ti. A I B 1 C I D I E Contract Name 17 -26 -2010 CTDC Contracts Esco Communications Wenger Gibraltar Office Works, LLC Gibraltar TC Furlong Indy Stage and Sales Argo Chem East Signature Construction Indy Stage and Sales Meridian Music Smock Fansler REI Construction AEI) Professionals LaFever Electric Meyer Najem BAM Equipment Gibraltar Construction C &T Design Piano Solutions The Sculpture Foundation Sensory Technologies Nelson Alarm E2 Software Solutions Bunting Graphics Van Ausdall & Farrar Tiger0irect.com Advantage Opitcs Smock Fansler Signature ISmack Signature Signature Van Ausdall & Farrar Telecom Placement Smock Van Ausdall at Farrar Nelson Alarm Meyer Najem Meridian Music m 'Alexis Manufacturing Gibraltar Simplex Antreasien Chance Bros. Diversified Poynter Ermco 2 'Gibraltar Office Works, LLC Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) '..Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) ',Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) 'Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Tarkington Equipment Carts and Seating Garage West Wall Improvements Furniture for the C f€ Motor Court Exterior Wall Speakers Equipment Tarkington Fixtures De-Icing Eq ipment Fountain Rough-in Terkington Stage Equipment Piano Equipment Fountain Rough in Amphitheater Equipment and Improvements Defibrillator Equipment Amphitheater Equipment and Improvements Amphitheater Equipment and Improvements 3 3 � 3 3 w 3 Concert Hall Catering Equipment Musical Equipment J Sculptures Monitoring Equipment Camera Equipment Catering Computer System and Software PAC Signage Box Office Cornputer Equipment '.. Network Switches Optical Electronic Modules Motor Court improvements Motor Court Improvements Motor Court improvements Motor Court Improvements 'Decorative Fountains Decorative Fountains Fountains Computers and Servers uetuno3 auawdlnb3 Aytnaa5 Security Equipment Security Equipment Box Office, Phone System, and Music Equipment Security Equipment Green Improvements Box Office, Phone System, and Music Equipment Green Improvements Green Improvements PAC 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 in -vs u u u u u u S. in in o m an u o 0 u u o w vs u o w u u v u u v N$ u u w$ u u u u w w u u o u u co v w in u w o in u r w u u w w u u m o u u o r u u m v u u a ti u u .. a u u w ti u u m v u u o o v. v, o�i�oo�w m a VT M o m u u o 0 in u o m v � � o 2 2 v m FA v o e m m w a w v o a to e, m w a w a o w w ti u a v o w v m w w v o w e v m w v