FInancials 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-
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N
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2
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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
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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
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Van Ausdall & Farrar
Telecom Placement
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Van Ausdall at Farrar
Nelson Alarm
Meyer Najem
Meridian Music
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'Alexis Manufacturing
Gibraltar
Simplex
Antreasien
Chance Bros.
Diversified
Poynter
Ermco
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'Gibraltar
Office Works, LLC
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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
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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
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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
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