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Financials May 2012
CARMEL REDEVELOPMENT COMMISSION Financial Information Packet For the Month Ending May 31, 2012 Carmel Redevelopment Commission Financial Packet Table of Contents Schedule Section Schedule 1- Budget Year 2012 Monthly Projections and Results - Combined 1 Budget Year 2012 Monthly Projections and Results - Non Operating 1A Budget Year 2012 Monthly Projections and Results - Operating 1B Revenue Budget Analysis 1C Expenditure Budget Analysis 10 Summary of Cash and Cash Rights 1E 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 $10,000,000 Contract 4D Appendix A - Analysis of TIF Collections Analysis of Spring 2012 TIF Collections A -1 Analysis of Annualized 2011 TIF Collections and Disbursements A -2 C0,1,1R,J0V,,,,t0010( C0r110,0,i00 4100,01 year 2012 ,,,, mons.. Nnn Oporatog fur rnonIE 00,11, May IL 2072 R0lor.E, 0 Actual Actual Mar. Apr' PtIni,070,1 PRO.1007,R 01,01EC209 10.0[01., 141,71Yrt, .0.1,0111, ,1,0;f[10,1. Aun., 2012Gur.vt NON OPERATING RAlANCE 5.5.1173,910 Tonal Llne of CraditkedvIty 5887.3 5372 500 UPC. 0,555 070 434,383 MEW. • NON OPERATING R.,1,10: Not Of 00,010per 1004.51.1 .7.000 1 TOTAL RECEIPTS NON PE 0710.RD/ENVES- NON ()PIRATING 0 0 96,753 1 17, Afi0 000 4 S.00.00, 21.10,493 7 EMOINDITIAIES - NON OPERATING 7 PAC .243 457.000 2 3.227 Par.. WC Ors... mnmigompm 7 .25 hr...., 0, 0.00. of NAV,. 45.0 1,0.000 10,CD, 00,0M WOO 225,00D 177000 1.75,00 To ono 57 )7 3, ...GT., P0rIiinr,urrhugr 704,3 Shortfall 0,070 33,327 4 .000 3:7:r1: ,49,000 1,1,15,0 101,063 A,01,41,0,A f,,, 37,530 1078. 44.1 1,013 .34$ 42,524 7161, 70,10 :0011.0 8001.00, 90 I • P..19 ,VIv 6.000 45,000 47 4, 1.000 7,436 19.090 7,4,0 ,9,000 7,6 10,009 ,,198,654 10,000 7,675 00,90 10 017,, 000 45 IMMO 51,500 2.5 PAC 407,490 51 09.7,10,0■0,,,,A00.11,,,,,,.., 1,01 57 , Int,. Cns. rOTAI EX47,11.1011., NMI OPERA/MG 4,4,7,647' 200.5. 015,5 2,01 265,61, WOW 78,00 707 77, 8.561.609 7 CM 03 171 5, OPERATING FUNDS TRANS, ERREOTO NON </MATING 55 nrrF 11413671 • 11 !I PE 11NO 887,403 11.9. 54 0 55 ,,,00.0470 6116110. eve10411,116061466,66 Budget Ye, 1014 14/6,M1ly Proj6116,111 0■14,4611 164 6166111 66tlIng 6364 314 2012 66111111 .41.61 Actual 44,316va 6/14■614 14C 14/ 411611, twArr,rra 664,46, NU PAR., 343.033 3111, L106 016,4111- 0146111116 Line of 04011.m, 1,4 01 06r116163,1613, 1■■ 61,036 63.1,16 11111111111 ■C11■11:1 32 4/11, ,100 36 600 1646164,14.- 0111174,1166 111■19203•111111111110131 1.64W11 nue 04661,71116 685,542 666,643 •0 MG 01.4461,16,04614161 0.661441: 6641,61146/11661nes:Developme, C :me Town and mr1 6114 16664 I 1,66174 CnerP 6614111111411,6 4111, 6,61664016,11 466 1,6,C C161646,4146464 6,0 96e6p6 Line of Cred4 Grar1, 446446,1/64 3now Pcmoval 1,61446onal 1644 35 legal 16 6661,666■440111 111466 1661 ■6166114,644161.1..f6166, Con,ultinp 33 m64411,4444. 40 9666 6,41. • 1,4 6.1601,411.1631.14ene, 21,633 /1,003 49 787, 341,369 10.640 464637 1.4370 1■■•■11■■■11■■■ IIMIN MIMI■ 403,600 615,000 M■1■■■111111111 3 000 POO MIMM=Ell IMM=MME 1111111111M1 46,33 6,41 9,15 SAO 31 23,42 3,00 5,00 11,61 91 6,30 37.512 41 161 1,10 2,031 21.243 63 614 136329 13,464 41 414 11111:64 6,11 611" 4,610 3, 4111 30.663 6,11 11.630 144, 6,6 4.315 4646 12.333 16,51 4616 4,111 16314, 111 13 311 1.1111 11 11/1 113 1144, 81 630 36 616 133111411 200,00C 711.000 7,24,46 6242,346 640, 170.000 201.500 11113 46 20 78,233 23 30,001 460,000 WM. 85,003 16 330,003 12,003 3.000.000 350.003 210.003 10,006 166.61. 11,614 4.611 303 1.446 203,00C 6,700 4,311 315,000 111 1 4 1 34 11 503100 11 3,141 .4311011,11344 0131,71146 7,,(63,4,1F0u7D611,411: FUNDS .111,13,11610 40 11 16114,648 1111111161 6 305 753 41 141,363. 146 6616.1161 I , 243.4113 411-4117 Carmel Redevelo. -yet Commission Month and Year to Date Revenue Budget Analysis For the Month Ending May 31, 2012 Reference A 8 C j 0 J E F ] G ( H 1 1 ] 1 1 0 Reference 1 Current Month Comments Current Year Budget 1 2 2 3 Budget Act�_al 5 Variance proposed Adjustments Revised YTD $ Remaining YTD 3 Recognized 4 RECEIPTS - NON OPERATING: 4 5 Line of Credit Draws 5535,644 535,644 $0 51,929,069 $1,929,069 22,009,684 f,i8td(1,P:t% 145.65% 5 6 Line of Credit Repayments 0 0 0 0 0 0 0 0.00% 6 7 lir Revenue, Netof Developer Pass Through 0 0 0 17,664,443 17,664,443 W.), ,317 18,468,946 -4.59% 7 8 NBI Installment Purchase Contract 0 0 0 830,002 860,000 457,000 433,000 53.14% 0 9 Regions Installment Purchase Contract 0 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 0.00% 10 11 Wells 98rgo 0 0 0 354,960 354,960 96353 258,207 27.26% 11 12 12 13 TOTAL REVENUES • NON OPERATING 535,644 535,644 0 23,033,472 23,033,472 2,558,934 20,474,538 11.11% 13 14 _..... 14 15 15 16 16 17 17 18 RECEIPTS - OPERATING 18 19 Line of Credit Draws 211,126 211,126 0 0 0 712,706 1712 .713 Epp 0.00% 19 20 Line of Credit Repayments 0 0 0 0 0 0 0 0.00% 20 21 Parcel 7a roof repair reimbursement 0 0 0 3,000,000 3,000,000 0 3,000,000 0,00% 21 22 Energy Center payments 26,922 53,843 26,921 526,322 is the amount we usually expect each month, but due to timing we received two month's worth of energy payments In May 448,000 448,200 150,954 297,046 33.70% 22 23 Parking Surcharge 17,052 12,360 '1,14;124 The $17,052 was an average of what we expected to receive each month until the end of the year 186,000 186,000 61,943 124,057 33.30% 23 24 Parcel 7 Tenants' Rent 48,707 98,359 49,572 We received June rent in addition to May rent 338,349 338,349 293,507 44,842 86.75% 24 25 Keystone Group, LLC Receivable 0 0 0 200,000 200,000 0 200,000 0.00% 25 26 Miscellaneous revenue 5,971 5,971 0 70,000 70,000 210,125 31.f10,.:.'.:'. "3 300.18% 26 27 Line of Credit Grant from 405C to CPAF 385,715 i 550,000 164,285 The 5385,715 was averaged out for the last two months 4CDC expected to grant money to The Center 5,000,000 3,000,900 2,778,571 221,429 92.62% 27 28 Line of Credit Grant from 4CDC 0 D 0 0 0 0 0 0.00% 28 29 29 30 TOTAL REVENUES - OPERATING 695,573 931,659 236,086 7,242.,349 7,242,349 4,207,807 3,034,542 58.10% 30 32 TOTAL REVENUES - COMBINED 51,231,217 51,467,303 $236,086 530,275,821 530,275,821 56,766,741 523,509,081 32 33 33 34 34 35 35 16 36 -1C- Carmel conentesion Month mad Near tol....54pondlture13640,Anelyate Pox Me M.N. Ending 20. Peremn. A 1 P 1 0 1 0 .1 0 f F1 4 1 0 1 1 1 j 0 &Oren. Were, Month Comments Currant Terat 5uOttat 2 3.912 Pr.,. 0019,090009 &.. 010 9 0210.0010.3 f, I I 4 EXPENONURES: NON OMAN. 4 5 Conetruttion 6 7 P65....ction/Rotentlen P. Contulterge 014.829 516.3119 9 09.55, The 31.56 rep t•en • e ex on nee ce we. ape,. n , pr .13, pa untll moth, Meg, 51,330900 101,900 11.5..000 109000 9153.6. 50,895 51,396.140 39192 5.3370 M.. 7 8 .11.11. Lanleceph. 0 0 0 800,044 860,000 457,000 403,000 53.1. 9 PPAC Meat m Equipment 0 0 0 225.0 225,000 3,287 221,713 1.9691 9 10 Parcel 73 & 70 Construccon management. 0 0 1779,0 177,000 0 177,000 0,00. 10 11 P609 1 5 0 0 0 120,009 129000 73.093 40,151 595. 11 12 Perot 3 Phmell 9 0 0 1,750900 1,790,000 0 1,750900 0.0054 18 Parcel 0 P.. 0 It.artep 0,33 0 0 0 250.0 MOOD 230,000 0.0. . . Parcel 97 Mreetscape 0 116.684 9 1,96.1 T. tot, repreeente the Parcel °courtyard 60.1,.. that 9 re cn he eerrfr. ■r, / erce, 231,200 251..0 296.1 44,777 82,1731 1S Demo.. of Goln Elev.. 9 200,000 209000 200000 0.0092 15 . Monor Tree Revisfen: 0 0 0 100,.0 100.090 0 100.0 0.0071 . 17 ...e.nen. tendecopIng 1,571 1.571 10,000 8.961 31,039 22.4071 18 Other Project, 8. .3 0 350.0 850000 111,434 753,536„ 13.1121 . 15 4000 Grants 0.00M 19 20 PM.; 6urehm56 12.360 10 2 ,30t Oe 4116 not anticipate met., nne therefor. P.M.5. a perk....., 69. 1.900 136,000 615. 124,057 33900 21 Parcel 7 Ten.. Pent 339349 338,349 381,571 112 77. 01 22 ...ton Do ...Inn Shortfall 044,000 004.000 0.040.o4 i>7> 127724 22 2, Prefe,onel .69 9 000, 23 29 25 1.7.010000 Arch/P.Ineering 60,204 71430 13.1, Thls efferent, rep.. a Moller. payer., thet will he cre.... to the CPC I, f.re treoice, 600,000 020,0. 540000 620,090 361,430 269.9 258,570 331,193 60.2419, 43.3. 74 25 70,107 70907 IIIIIIIIEEIMIIIIIIEIIRI ,, 0... 05 ...In, Pena 45,000 45,000 47,00 100,05* 26 27 Ler& . Comm 0 0.03,1 L7 28 Morel 3.28 Perry.. 13900 13.0 0 243,00 228,000 15.000 135,000 41.67, 28 29 Parcel 9.31 Chem - lantlecoutettlon 2,435 0,436 2, 9„ 3.9 29.0 12,130 17,050 41 67. 29 30 Pertel 14 0 601116 raper. Perchete 10900 10900 , : : 120,0. 30.0 70,000 41,573, 30 31 9041.1ohn, LLC 7,623 7,523 0 91,3,0 91,500 38.125 53.373 41.5774, 31 30 Nome. DelmSemice 3913,302 3,213,302 3.298,664 (84862) 102.5. 32 33 2005 PAL I.. 0 0 0 5990.0 6.0,000 0 5,200,000 0,00. 33 34 Irma...Pure.. Dentract Payment, 253,.7 2.907 8,501,007 6,551,607 1.4562 6997,045 13.79, 24 36 Contract Purchme....retive Fee, 3,197 6,196 1 295900 .5,900 .157 1.943 33.7. 35 000400,31. Um of ... Mere, Expen. 0 0 0 150,000 150,000 1500. 0 00, 36 TOTAL EXPENDRURES • NON OPERATING 46.36 605.130 27953,5. 9 27,068,698 8,4..802 10579636 31,39. 37 3,5, 39 41 0431040100441 OPERATING 49 41 40 Operation, and MN... 0 0 0 0.0099 42 34949 93.169 39,19 The dltrerence le dee te the timing of when e.t.a. utIlltien are cold Pere, whom th. Mg Warm., 6409. 640990 292.467 378,063 40960, 43 44 MerketingtEventa 1,133 1,19.3 270900 270,0. 2M12 241,188 103. 44 Mark,0169Bu61neem 034914001910 29549 27949 0 401,700 201,400 39.419 11.01 44..540 45 C. Lease 7.042 0.044 0 90.004 98,223 35,211 61,012 13.850 Old.. Shop., er,Crecenel OTS Lee. 90. 0,059 5690.1 00,000 14,444 35,5. 29.319. 47 43 Pwel 70 Eeerm ..1.1110190 00,044 52,804 1•19834 7. MI...fence IN Pee to the timln3ofwhen 0191,mo pe, veee, when thee are 107,.e4. 450 000 050,000 737,303 755 697 40.9610 47 49 Parcel 70 Mana.ment Pee 22,61 22.6. 130,00 100,090 33.610 54,390 95..9 . 50 Parcel 70 Garage CAM 0 MOO 85,000 23,434 61,516 27.6.3 50 51 Parcel 26 09.10.10c O. 52,455 32,465 0 330,009 330,000 30,455 233,547 ..4.9 51 50 Parcel 10 3heptr. 3,209 3,203 0 12,000 12,000 14.870 123.99, 52 53 line of gre. Grant to OM 3.715 350.000 96 433. The $353,715 .6 aver.. ,t for t. last two months.. expect. 70 mane men. to the Came, 3,000,000 3,00,000 4,778,571 201,929 92.520, 53 54 Veteran: On. Snow Demovol 330,000 350000 33946 310.754 11.21. 53 55 Prof...4 Fee, 0 0 0 0.00. 55 56 Legal Fee, 19,325 18.325 0 219000 210,000 72,339 1.57,041 34.7451 55 57 ArcheInftlneerIng 951 981 0 20000 29000 3.909 16,0. 13.5319 08 Account., Fee, 11,019 11.019 0 003,000 203,000 04,471 144,029 25.530 58 59 11.0048, 4001,0014. 90010900 0030110139 30,773 4,500 4,973 Theta were 548,273 worth of Invoice, for 85.0.1.43peck & Ameclet. epprov. et. the PA ey wee., but are Min, delayed Mr payment due to percentage, work.. Ile. been.. .0fl14 wat pr000.d by Jeff 4 peek anal agreed .411 pa.. 315,000 000,044 .9,410 185.090 41.0914 59 60 Meeellenee, 670 451 157 Difference le due to a check 006.19 .14.. 30,000 50,000 34,307 17,003 69990 61 400C Grent .01. el Med0 1,10. Omen. 0 0 0 171,000 171,000 0 171,000 0.0014 61 62 TOTAL EVEN 01711.9 • 0.9471. 697,620 627,339 6,556,253 3 5,559,251 0,800.041 9003.09 09.3. 53 63 54 TOTAL 08.5017UPES• COMBINED 41,155,73.7 51,430,439 10099 7011 061,624,941 SO 9333524,941 012,305,48 421,240933 35,340 64 65 Carmel Redevek,, .205 Commission Summary of Cash and Cash Rights For the Month Ending May 31, 2012 Reference 9 I B C 1 0 E F G H I J K L Reference 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 3 Cash and Rights Balance 511112 3 4 1101 Cash $ 9,169.98 $ - $ - $ - $ - $ - $ - $ - $ _ $ _ $ 9,169.98 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 s CRC Star Bank - 82.760.80 - - - - - _ _ _ 82,760.80 e 9 4807257943 BMO Harris Bank - 68,591.92 - - - - - - - - 68,591.92 9 10 87504111 Regions Bank - 45,534.83 - - - - - _ - - 45,534.83 10 t 1 Wells Fargo - Energy Center Sale - - - - 259.209.98 - - - 259,209.98 11 12 Cash Rights - - 1.671,565.00 315,438.00 - 0.00 1,210,179.00 565,680.72 2,500,000.00 418,139.15 6,681,301.87 12 13 Total Cash $ 22,240.46 $ 196.887.55 $ 1,671,565.00 $ 315,438.00 $ 259,209.98 $ 0.00 $ 1,210,179.00 $ 565,680,72 $ 2,500.000.00 $ 418,139.15 $ 7,159,639.86 13 4 14 15 Receipts 15 16 Clerk- Treasurer Funds $ - $ - $ - $ - $ _ $ _ $ _ $ $ _ $ - $ - 16 17 Developer Payments - - - - _ - - _ _ - - 17 18 CRC Star Bank 96 359.20 - - - - _ _ _ - 98.359.20 18 1s 4807257943 BMO Harris Bank - - - - _ _ _ _ - _ 15 20 87504111 Regions Bank - 122.174,55 - - _ - _ - - 122,174.55 20 21 Transfer- 5/22/12 - 746 770.17 - - - - _ - (746,770.17) - - 21 22 Transfer -/12 - 22 za Transfer - /12 - - - - - _ - - - 24 24 Transfer -112 - _ - - - 24 25 Total Receipts $ - $ 967,303.92 $ - $ - $ - $ - $ _ $ - $ (746,770.17) $ - $ 220.533,75 25 25 26 27 Disbursements 27 28 Clerk - Treasurer Funds $ 269.98 $ $ - $ - $ - $ - $ _ $ - $ - $ - $ 269.98 25 29 PAC - - - - - _ - - - 29 30 Non -PAC - - - _ _ _ _ 31 31 CRC Funds 31 3z CRC Star Bank - 50.000.60 - - - - - - - - 50,000,60 32 33 4807257943 BMO Harris Bank - 15.86 - - - - - - - - 15.86 33 34 87504111 Regions Bank - - 34 35 Installment Contract loans - - - - - _ _ - _ _ _ 35 36 CPAF - 550,000.00 36 37 PAC _ _ - _ _ _ _ _ - - - 37 36 Non -PAC - 882,540.82 882,827.00 269.72 - - - - - _ - 38 39 4CDC LOC Approved Draws - - - - _ _ _ _ _ _ _ 39 40 Total Disbursements $ 269.98 $ 932,557.28 $ 882,827.00 $ 269.72 $ - $ - $ - $ - $ 550,000,00 $ - $ 50.286,44 40 41 41 42 1101 Cash $ 8,900.00 $ - $ - $ - $ - $ _ $ _ $ _ $ _ $ - $ 8,900.00 42 43 1110 TIF Distributions 7,275.56 - - - - - _ _ - - 7,275.56 43 44 1118 2008 TIF Bond Proceeds 2,485.01 - - _ _ _ _ _ - - 2485 01 4a 45 1119 2008 TIF Debt Service Res 3,309.91 - - _ - _ _ _ _ - 3.309.91 45 46 CRC Star Bank - 131,119.40 - - - _ _ - - 131.119.40 46 47 4607257943 080 Harris Bank - 68,576.06 - - - - - - - 68,576.06 47 48 87504111 Regions Bank - 31,938.73 - - - - - _ _ _ 31,208.98 46 49 Wells Fargo - Energy Center Sale 9 9Y - _ _ _ 259,209.98 - - - 259,209.98 49 50 Cash Rights - - 789,038.00 315,168.28 - 0.00 1,210.179.00 565,680.72 1,203,229.83 418,139.15 4,501,434.96 50 51 Cash and Rights Balance 5131/12 $ 21,970.48 $ 231,634.19 5 789,038.00 $ 315,168.28 $ 259,209.98 $ 0.00 5 1,210,179.00 $ 565,680.72 $ 1203,229.83 $ 418,139.15 $ 7,329,887.17 51 52 Total Operating Balance (7) (1) Represents funds Mat are held by the Clerk- Treasurers Office (2) Represents funds Mat are held in Accounts controlled by Me Cannel (3) Represents remaining funds from the 80,000,000 bank loan 0/0330 In (4) Represents remaining funds from the 312.500000 bank loan closed (5) Represents remaining funds tom the Certificates or Participation. Series (6) Represents remaining funds Rom Line 05 Credit with the indicated Financial (7) Total operating Balance is the sum of Me ending Cash and Cash Rights 4006 4020 of Credit Funds are granted from the 4000 and CRC Funds 52 53 253.604.67 53 54 Redevelopment Commission 2010 and held by the in 2011 and held by the 2010 C (Energy Center) Institution. tine for the C/erk-Tieasurer 54 55 55 56 56 57 57 58 55 59 59 60 60 61 51 Carmel Redevelr, ent Commission Debt Summary For the Year Ending December 31, 2012 Reference A 8 C 0 E F G H I 3 6 Reference Reference Issuance Type Revenue Source Original Debt Amount Interest Rate 1/1/12 Outstanding Par Amount 2012 Principal 000 )1) 2012 Interest Due (1) Total Debt Service First Installment 12,1 Second installment 125 Issuance 1 Tax Increment Revenue Bonds, Series 2004 A (Illinois Street) Bond TIF 59,500,000 6.650% $7,670,000 5410,000 $503,405 5913,405 5455,028 $458,378 1 2 COIT Revenue Refunding Bonds, Series 2006 Bond TIF 5,580,000 5.250 - 5.270% 5,580,000 6E15,000 251,996 966,996 485,341 481,854 2 3 Tax Increment Revenue Bonds of 2008 (City Center) Bond TIF 14,000,000 5.820 - 7.800% 12,935,000 395,000 938,401 1,333,481 667,053 656,349 3 4 Lease Rental Revenue Bonds, Series 2005 (PAC Bonds) tease TIP 79,998,227 4.000 -5.0000 75,131,081 1,284,005 3,910,996 5,195,000 2,600,000 2,600,000 4 u s 101,316 081 2,774,005 5,634,797 8,408,807 04.207,421 54,206,381 5830 006011 2,515,174 52,158,453 580,979 5153,751 5240,730 320,051 Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 2012 Principal Due (11 2012 Interest Due (1) Fees Total Debt Service Total Available Remaining Detail (Page) Reference 11 Revenue Original TIF Outstanding 2012 2012 Total Monthly $25000 5902,301 Issuance Type Source Debt Amount Interest Rate Par Amount Principal 000 (0) Interest Due (1) Debt Service Payment Reference 5 Old Town Properties -Chaos - Parcel -931 Contract TIF 2341,174 6.0000 5322,608 59,560 619,670 $29,230 52,436 5 6 Dean & Dottie Harrill Parcel 04 Contract TIF 874,000 8.000% 546,543 73,072 46,928 120,000 10,000 6 7 Bobby John, LLC Contract TIF 1,300,000 6.7700 1,299,302 4,348 87,152 91,500 7,625 7 5830 006011 2,515,174 52,158,453 580,979 5153,751 5240,730 320,051 u s 56,715,000 0 34,208,050 594,762 $4,332,812 Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 2012 Principal Due (11 2012 Interest Due (1) Fees Total Debt Service Total Available Remaining Detail (Page) Reference 11 Revenue Original TIF Outstanding 2012 2012 $315,081 Total $25000 5902,301 Certificate of Participation (COP) Type Source Debt Amount Interest Rate Amount Principal Due (1) interest Due (11 Fees (3) Debt Service Reference 9 Certificate of Participation, Series 2010 A COP TIF $37,905,000 7.750 -8.0000 $37,905,000 50 52,979,900 531,587 53,011,487 4.580- 6.000% 9 Certificate of Participation, Senes 2010 3 COP TIF 2,510,000 9.250% 2,510,000 0 232,175 31,587 263,762 9 10 Certificate of Participation, Series 2010 C (Energy Center) COP TIF 16,300,000 5.790 - 0.500% 15,300,0E20 0 1,025,975 31,587 1,057,562 10 u s 56,715,000 0 34,208,050 594,762 $4,332,812 900 000411 Grand Total $80,500,000 248,808,401 579,770,745 12,017,623 $2,585,781 $117,770 $4,722,173 2434,147 2239,960,279 54,978,607 $12,613,379 5212,532 517,709,518 5434,147 D; Torre debt servee arr.. per amor.tion schedules of i$51,,Iff 11) 44F4I SVM1.71.41 144,74,47r forthe Lease PenalRevenve 8444400r. 2045 /PAC- Sonde eqi. own.' de. service phis $5,000,for 0030'0000008303'u,3e3932 . tlit■ideellw D; Represent Adreinetrative fee: eve. on each contract (4)4,7trocts ore controller+ rhy PEW prow,. 4447,7,7,4m am 1 ceneruelon for a portion of Me reel.. performing ere center (5)344000e ore 7,4 dfor tee Feceor Develepor Bond Refinoncire cr. to :Don, a pore, 4! Ph7se 0e,opment "6) Ohliemens are poe 0000fdOui80000dTl303000 . e to4 ertee eere e0401340049005," me, the 4,5.4e, p04ne48, 50 ,0,0,000 would be free the rox.rememnt frum other ez and other ovui/ad.P.s. (7)011147gens 008 04:0 00001300l0000037'030300 In the exDre there would be a shortfe te make the ineeement poyeeets, 0,000Y,04,,0000idSed,f05040040050010130000 2033e, 2034 Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 Outstanding Par Amount 2012 Principal Due (11 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 210,000,000 4.750 - 6.000% $9,847,952 $315,081 5462,221 $25000 5902,301 $9,306 45 11 12 1-29-2010 ICO (NH) IPC TIF 10,000000 5.340 - 6.00054 10,000,000 285,261 488,464 25,000 742,725 402,456 43 12 13 1-1-200900 Contracts (Regions Bank) IPC TIF 17,500,000 4.580- 6.000% 17,090,910 567,652 785,992 23,929 1,377,572 9,223 4C 13 14 3-22.2009100 Garage P47 Contracts (Regions Bank) IFIC 7F 7,500,000 4.960. 6.000% 7,331,083 329,841 269,543 23,929 523,317 0 40 14 15 7-26-2010100 CTOC Contracts (Regions Bank) IPC TIF 10,000,000 5.240 - 6.000% 10,000,000 531,775 143,903 13,662 689,341 12,663 40 15 16 6.10-2010100 (United Fidelity 0454) 3) 100 TIF 2,500,000 5.250. 6.000% 2,500,000 88,012 119,845 6,250 154,107 0 8/4 (4) 16 17 Primary Village Installment Contract (Harris Bank) (6) IPC TIF 17,500,000 3.000% 17,500,000 0 316,809 0 316,309 0 9/4 (5) 17 16 Secondary Village Financial Contract 1 -CCC LLC (7) IPC TIF 4,500,000 3.5000 4,500,000 0 0 0 0 0 8/4(3) 18 19 Secondary Village Enancial Contract 2 - IDC LLC (7) IPC TIF 1,000,000 3.500% 1,000,000 0 0 0 0 0 N/A (5) 19 900 000411 Grand Total $80,500,000 248,808,401 579,770,745 12,017,623 $2,585,781 $117,770 $4,722,173 2434,147 2239,960,279 54,978,607 $12,613,379 5212,532 517,709,518 5434,147 D; Torre debt servee arr.. per amor.tion schedules of i$51,,Iff 11) 44F4I SVM1.71.41 144,74,47r forthe Lease PenalRevenve 8444400r. 2045 /PAC- Sonde eqi. own.' de. service phis $5,000,for 0030'0000008303'u,3e3932 . tlit■ideellw D; Represent Adreinetrative fee: eve. on each contract (4)4,7trocts ore controller+ rhy PEW prow,. 4447,7,7,4m am 1 ceneruelon for a portion of Me reel.. performing ere center (5)344000e ore 7,4 dfor tee Feceor Develepor Bond Refinoncire cr. to :Don, a pore, 4! Ph7se 0e,opment "6) Ohliemens are poe 0000fdOui80000dTl303000 . e to4 ertee eere e0401340049005," me, the 4,5.4e, p04ne48, 50 ,0,0,000 would be free the rox.rememnt frum other ez and other ovui/ad.P.s. (7)011147gens 008 04:0 00001300l0000037'030300 In the exDre there would be a shortfe te make the ineeement poyeeets, 0,000Y,04,,0000idSed,f05040040050010130000 2033e, 2034 Carmel Redeveit.. .ant Commission Debt Summary - Additional Information For the Year Ending December 31, 2012 Reference A B 1 C 0 E F Reference Bond Additional Information Issuance Year issued 1st Call Final Maturity Payment Dates Purpose of Issuance 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 COIT Revenue Refunding Bonds, Series 2006 2006 12/15/2012 2/15/20186/15/11,12 /15/11 To refund COIT Revenue Bonds of 1998, which were originally issued for the acquisition and redevelopment of property in the City Center Redevelopment Area 2 3 Tax Increment Revenue Bonds of 2008 (City Center) 2008 7/15/2012 1/15/2029 1/15/11, 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 12635 Street Corridor EDA 3 4 COIT Lease Rental Revenue Bonds of 2005 (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 151 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 8/1/2015 First of every month Acquisition of Parcel 14 6 7 Bobby John LLC 2011 N/A 8/2/2013 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 2010 A 2010 1/15/19301/15/20357 /15/11,1 /15/12 To Provide for the development and construction of a portion of the regional performing arts center 5 9Certificate of Participation, Series 20103 2010 N/A 1/15/20357/15/11,1 /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 Installme t Purchase Contract - Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of Issuance 11 8 -31 -2009 ICO Clancy Theater Equipment, Sound Equipment, and SECOA 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, 0/1/11, 9/1/11, 10 /1/11, 11/1/11, 12/1/11, 1/1/12 To provide Theater Equipment, Sound Equipment, and SECOA Seating 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- 2009ICO 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 5-22-2009100 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. 2010100 CTDC Contracts (Regions Bank) 2010 le/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 15 166 -10 -2011 ICO (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 Primary Village Installment Contract (Harris Bank) [1] 2011 N/A 7/15 /20331/15 and 7/15 To Provide for the development and construction of a portion of Pedcor 17 18 Secondary Village Financial Contract 1- CCC LLC 121 2011 N/A 7/15/2034 No Payments in 2012 To Provide for the development and construction of a portion of Pedcor 18 19 Secondary Village Financial Contract 2- IOC LLC [21 2011 N/A 7/15/2034 No Payments in 2012 To Provide for the development and construction of a portion of Pedcor 15 Carmel Redevelo, _nt Commission Developer Bonds (Informational Purposes Only) As of May 31, 2012 Reference A B C D E F G Reference 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 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 (116th Street Centre Project) 116th St. Centre 2,050,000 2,050,000 2036 0 393 6 7 Taxable Economic Development Revenue Bonds of 2011 (Indiana Spine Group Project) Meridian and Main 751,500 751,500 2031 0 0 , 8 Senior Economic Development Revenue Bonds, Series 20116 Arts District Lofts & Shoppes 9,630,000 9,630,000 2031 10,925 379,328 8 9 Subordinate Economic Development Revenue Bonds, Series 20118 (4) (Arts District Lofts & Shoppes Project) Arts District Lofts & Shoppes 3,370,000 2,370,000 2035 10,925 379,328 9 10 Total $46,816,500 $22,829,607 $1,452,178 51,782,705 10 11 11 12 (1) The CRC Payable portion of the debr service is limited up to the total incremental revenues of the designated TiF area. Any debt service in excess of the increment revenues J liable to the developer. The total outstanding prinripal amounts seen above do not reflect a direct 12 13 obligation to the Carmel Redevelopment Commission. 13 14 14 15 (2)All rnllect,ans 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 is pledged towards payment of the bonds. 15 16 76 17 (3) The Bonds were Issued as draw bonds. The omounr shown represents the amount of principal drawn down and outstanding per the Trustee. 17 18 18 19 (4) The Bonds were issued as draw bonds. The amount shown represents the amount of principal drown down and outstanding per the official draws Scheduled in the Issuance Offering Documents. 19 20 70 Carmel Redevele, .ent Commission 4CDC Grant Obligations As of May 31, 2012 Reference 1 A 6 H K Reference 2 Current Grants /Obliga ions 3 Closing Original Current Amount Use of Primary 4 Bank Tvoe Interest Rate Date Maw Debt Amount Balance Available for Use Proceeds Repayment Option 5 Star Financial Bank LOC LIBOR plus 3.50% Floating 11/8/2011 11/7/2012 53000,000 $3,789,821 $1,210179 is Tgi TIF 6 Fowler State Bank LOC 450% Floating 11/8/2013 11/7/2012 2,500,000 1,296,770 1,203 230 } +d l ' d `` T -° �): TIF 7 Marine Bank LOC 4.50% Floating 11/30/2011 11/29/2012 2,500,000 1,934,310 565 681 tae Y '+ 4°e t TIF 8 Mercantile BMO Harris Bank BMO Harris Bank LCC LOC Bank Loan 43% Floating LIBOR plus 275 %Floating 3.97% Fixed Rate 1/18/2012 2/17/2012 9/30/2011 1/17/2013 2/16/2013 9/30/2016 2,500,000 2,500,000 12,500,000 2.500,000 2,081,861 12.184,562 0 418,139 315,430 � 'g 4 gtgyV $ i^s }ma us"J ?°t^' "'��et. �fi:tna .t.i:: c`% Pay Construction Costs on Office Building One -IF TIF TIF 9 10 11 Lake City Bank Bank Loan 5.00% Floating Rate 12/28/2010 12/28/2012 8,000,000 6,328,135 1,671,865 Parcel 05 - Veterans Way Street Extension and Hot and Cold Waterline extension and retrofit of Cry Building TIF 12 Total I5 4 13 14 15 16 17 18 19 20 21 22 2 4 5 6 7 10 11 12 13 14 15 16 17 18 19 20 22 Carmel Redevelok..,ent Commission Installment Purchase Contracts - Summary As of May 31, 2012 Reference A 3 Id D I E R 1 ° 1 H K Reference 1 2 3 4 5 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 Description Amount Original Contract Available $57,500,000 Plus: Renewed NBI Contracts 860,000 Less: Current Contract Obligations 56,319,231 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 4 4 147 -4- 1 2 3 4 5 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 RedeveL,.ment Commission Installment Purchase Contracts - Summary As of May 31, 2012 Reference 1 A 1 B ] C 1 D 1 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: Dosing Costs 219,500 Less: Installment Obligations Due 127,639 Less: Retention Held 13,303 Less: Wire Fees 360 Remaining Available for Contracts $9,806 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 -4A- Carmel Redevelof, .ant Commission Installment Purchase Contracts - Summary As of May 31, 2012 Reference A 1 B 1 C 1 D I E Reference 1 1 2 Contract Name 1/29/2010 ICO 2 3 IPC 8 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 27 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 S402,456 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 Redevei,., .rent Commission Installment Purchase Contracts - Summary As of May 31, 2012 Reference A I B .1 C ] 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- ,:.- F.,,, T. 2 ,' g - 1 Z'," T : f, P.,' ,9-.' 2 ; `, L' V, 2—T, 8 '61 1 ." ,` L r, ■ -1,` `L' ' t ', t t 0 ?r ,' & `. t 8 8 72 ■ t", : ,' `, t,' t ', e, `: 4 " - ' 8 t,', ', J ', : ,"6' ',7' ', o' ',. . ,' ' ;,' . . .3,- r.,' . ,. . 0, — „ , '''' Original Contact Amount $10,000,000 Less: Current Obligations 9,742,969 Less: Bank Fees 75,000 Less WSH Legal Fees 65,821 Less: Other Legal Fees 10_550 Remaining Available for Contracts 12663 [ B 1 C 1 D 1 Contract Name 17-26-2010670C Contracts Office Works, LLC Esco Communications Wenger TC Furlong Gibraltar Body Stage and Sales ndy Stage and Sates Smock Fansler Signature Construction (Meyer Najem REI Construction Gibraltar Construction LaFever Electric Indianapolis Stage BAM Equipment (Sensory Technologies C &T Design EZ Software Solutions The Sculpture Foundation Van Ausdall & Farrar Nelson Alarm Advantage Opitcs Bunting Graphics Signature TigerDirect.com Signature Smock Fenster Smack Signature Lefever Telecom Placement Meridian Music Van Ausdall & Farrar LaFever Meyer Ne(em Gibraltar Gibraltar Antreasian Alexis Manufacturing Ermco Chance Bros. Office Works, LLC Circle l Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (fast) Regions (last) Reglons (fast) Regions (last) Regions (last) 614 Regions (last)_ Regions (last) .142, Regions (last) Regions (last) W Regions (last) Regions (last) Regions (last) Regions (last) WW Regions (bast) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (fast) Regions (last) Regions (last) Regions (last) Regions (last) WWTW , Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) Regions (last) last _ Regions (last) Regions (last) Regions (last) Regions (lest) Regions (last) Regions (last) ??. '-i• _........ . . Carts and Seating Sensory Technologies Total Furniture for the Cafe Tarkington Equipment Speakers Equipment Garage West Wall Improvements De.lcing Equipment Motor Court Exterior Wall Tarkington Stage Equipment Tarkington Fixtures Fountain Rough.in Fountain Rough-in Defibrillator Equipment Plano Equipment 3333 UME 111111 ,11,41 Musical Equipment lifts, Lighting, and Rigging Equipment Monitoring Equipment Concert Hall Catering Equipment Catering Computer System and Software '.. Sculptures Box Office Computer Equipment Camera Equipment Optical Electronic Modules PAC 5ignage Motor Court Improvements Network Switches Motor Court Improvements Motor Court Improvements Decorative Fountains Motor Court Improvements Computers and Servers Decorative Fountains Security Equipment Security Equipment Security Equipment Security Equipment si Box Office, Phone System, and Music Equipment Box Office, Phone System, and Music Equipment Green improvements Green Improvements PAC Retaining Wall/Vault Cladding Green Improvements Cafe Improvements PAC Loose Seating Cafe Improvements Cafe Improvements Cate Improvements Cafe Improvements Cafe Improvements Cafe Improvements PAC FF&E Cafe Improvements Equipment /Contract Hardscape 0 1 I - • gg I - . A gg , , 0 gkIggS.tr7.8HIFALr',2 0 0 0 a I 0. 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APPENDIX A ANALYSIS OF TIF COLLECTIONS Area 116th St. Centre Amended Illinois Street Amended 126th Street Arts District Lofts and Shoppes City Center Downtown EDA #1 Downtown EDA #2 Carmel Drive Merchants Square CRC Parcel 12 Gramercy Hazel Dell North Hazel Dell South Lauth- Walker Legacy Lurie Merchants Pointe Meridian & Main National City TTA North Illinois Street Old Meridian Old Methodist Old Town Old Town Shopper Parkwood Crossing Parkwood East West Clay Carmel Redeye. ..at Commission Analysis of Spring 2012 TIF Distributions Spring Projected Spring Gross County Estimates* Gross Spring (Appeals) Net Spring Distributions Percent VS. Spring Fall Total Distribution TIF Refunds Distribution Remaining Collected ** Estimate ** $428.82 $428.82 5857.63 5392.50 $0.00 3392.50 5465.13 91.53% ($36.32) 134,346.72 134,346.72 268,693.44 180,760.32 81,450.25 99,31007 87,933.12 134.55% 46,413.60 4,498,371.45 4,498,371.45 8,996,742.89 4,299,293.24 0.00 4,299,293.24 4,697,449.65 95.57% (199,078.21) 414,430.99 414,430.99 828,861.98 379,327.84 0.00 379,327.84 449,534.14 91.53% (35,103.15) 477,635.19 477,635.19 955,270.37 437,250.32 0.00 437,25032 518,020.05 91.54% (40,384.86) 399,022.10 399,022.10 798,044.20 365,224.11 0.00 365,224.11 482,820.09 91.53% (33,797.99) 68,298.96 68,298.96 136,597.92 62,513.90 0.00 62,513.90 74,084.02 91.53% (5,785.06) 61,807.03 61,807.03 123,614.06 62,013.90 0.00 62,013.90 61,600.16 100.33% 206.87 283,147.29 283,147.29 566,294.57 259,164.13 0.00 259,164.13 307,130.44 91.53% (23,983.16) 103,206.15 103,206.15 206,412.29 94,464.39 0.00 94,464.39 111,947.90 91.53% (8,741.76) 4.21 4.21 8.41 3.85 0.00 3.85 4.56 91.56% (0.36) 155,495.66 155,495.66 310,991.31 145,861.91 0.00 145,861.91 165,129.40 93.80% (9,633.75) 451,037.51 451,037.51 902,075.01 427,110.68 0.00 427,110.68 474,964.38 94.70% (23,926.83) 361,788.30 361,788.30 723,576.60 331,144.10 0.00 331,144.10 392,432.50 91.53% (30,644.20) 275,863.72 275,863.72 551,727.43 252,516.25 0.00 252,516.25 299,211.18 91.54% (23,347.47) 5,633.26 5,633.26 11,266.52 5,156.11 0.00 5,156.11 6,110.41 91.53% (477.15) 141,282.90 141,282.90 282,565.80 219,404.94 109,702.47 109,702.47 63,160.86 155.29% 78,122.04 22,375.39 22,375.39 44,750.77 20,480.15 0.00 20,480.15 24,270.62 91.53% (1,895.24) 1,606.31 1,606.31 3,212.61 1,470.24 0.00 1,470.24 1,742.37 91.53% (136.07) 2,025,300.79 2,025,300.79 4,050,601.57 1,884,646.00 40,191.91 1,844,454.09 2,165,955.57 93.06% (140,654.79) 225,537.62 225,537.62 451,075.24 210,626.28 0.00 210,626.28 240,448.96 93.39% (14,911.34) 605.37 605.37 1,210.73 554.08 0.00 554.08 656.65 91.53% (51.29) 114,723.47 114,723.47 229,446.94 105,006.17 0.00 105,006.17 124,440.77 91.53% (9,717.30) 57,549.92 57,549.92 115,099.84 52,677.61 D.00 52,677.61 62,422.23 91.53% (4,872.31) 677,713.72 677,713.72 1,355,427.43 620,313.35 0.00 620,313.35 735,114.08 91.53% (57,400.36) 466,680.43 466,680.43 933,360.86 427,151.64 0.00 427,151.64 506,209.22 91.53% (39,528.79) 370.714.05 370.714.05 741.428.10 339.308.18 0.00 339 308.18 402,119.92 91.53% (31,405.87) 511 794 607 73 511.794.607.26 423.589 IiI3sIza,,52 $11.184,836.1• g11,3, .612,9_52,19_1_56 3.32,405.378.33 L5610.771.071 *County Estimates are per the Hamilton County 2011 Pay 2012 TIF Billing Report. The total amount represents the total actual property taxes billed in each TIF Area. The spring and fall estimates are one - half of the total property tax billed in that TIF Area. ** Gross Variances and Gross Collection Percentages below 100% are due to the Carmel Schools Referendum, the County estimated Spring Collections did not include the impact of the Referendum, below, the Gross Collection Percentage, Net of Referendum shows the Gross Spring Collection Percentage, net of the impact of the Referendum. The Net Spring Distribution Variance calculation below shows the dollar variance of estimated spring collections to the Net Spring Distribution, after netting out TIF Refunds (Appeals) and the Referendum which were not included in the estimate. Gross Collection Percentage, Net of Referendum Total Estimated Spring Collections Less Spring Referendum Total Spring Estimate, Net of Referendum Actual Gross Spring Collections Divided by Pay 2012 Estimates Net of Referendum Total Spring Collection Percentage, Net of Referendum $11,794,607.26 1 359,803.00 510.434.804 -26 $11,183,836.19 10 434 804.26 107.18% Net Spring Distribution Variance Total Estimated Spring Collections Less TIF Refunds (Appeals) Less Referendum Estimated Spring Collections, Net Net Spring Distribution Estimated Spring Collections, Net Net Spring Distribution Variance $11,794,607.26 (231,344.63) (1,359,803.00) 510.203.459.63 510,952,491.56 10.203.459.63 3739,331 99 A -1