Attachment 5.4 Cash Flow Analysis
Attachment 5.4 Union District Urban Renewal Project
Cash Flow Analysis ~ Current Tax Rate Reduced by 10%
20202021202220232024202520262027202820292030
Beginning Balance$ -$ 50,000$ 25,000$ - $ 27,105$ 47,881$ 176,233$ 336,269$ 500,000$ 500,000$ 500,000
Source of Funds
Total Revenue Allocation$ -$ -$ -$ 447,366 $ 456,578 $ 823,409 $ 840,141$ 857,207$ 874,615$ 892,371$
910,482
MDC Interfund Loan *$ 75,000$ -$ -$ - $ - $ - $ -$ -$ -$ -$
-
Total Funds Available$ 75,000$ 50,000$ 25,000$ 447,366 $ 483,683 $ 871,290 $ 1,016,374 $ 1,193,476$ 1,374,615 $ 1,392,371 $ 1,410,482
Use of Funds
District Operating Expenses $ 25,000$ 25,000$ 25,000$ 44,737$ 48,368$ 50,000$ 50,000$ 50,000 $ 50,000$ 50,000$
50,000
Available for Current Captal Expenses $ -$ -$ 402,629 $ 435,315 $ 821,290 $ 966,374$ 1,143,476$ 1,324,615 $ 1,342,371 $ 1,360,482
Estimated OPA Reimbursement (75% Net Tif)$ -$ -$ -$ 335,525 $ 342,434 $ 617,557 $ 630,106$ 642,905$ 655,961$
669,278$ 682,862
Additional Principal$ 570$ 168,654$ 173,093$ 177,620
Total Debt Service$ -$ -$ 335,525 $ 342,434 $ 617,557 $ 630,106$ 643,475$ 824,615$ 842,371$ 860,482
Repay Interfund Loan @ 5%$ -$ -$ -$ 40,000$ 45,000$ 27,500$ -$ -$ -
Total Use of Funds$ 25,000$ 25,000$ 25,000$ 420,261 $ 435,802 $ 695,057 $ 680,106$ 693,475$ 874,615$ 892,371$ 910,482
Ending Balance$ 50,000$ 25,000$ -$ 27,105$ 47,881$ 176,233 $ 336,269$ 500,000$ 500,000$ 500,000$ 500,000
2031203220332034203520362037203820392040Total
Beginning Balance$ 500,000$ 500,000$ 500,000$ 500,000 $ 500,000 $ 500,000 $ 500,000$ 500,000$ 500,000$ 500,000
Source of Funds
Total Revenue Allocation$ 928,955$ 947,797$ 967,016$ 986,619 $ 1,006,614$ 1,027,008$ 1,047,811 $ 1,069,029$ 1,090,672 $ 1,112,747 $ 16,286,437
MDC Interfund Loan$ -$ -$ -$ - $ - $ - $ -$ -$ -$ -$
75,000
Total Funds Available$ 1,428,955$ 1,447,797 $ 1,467,016 $ 1,486,619$ 1,506,614$ 1,527,008$ 1,547,811 $ 1,569,029$ 1,590,672 $ 1,612,747 $ 16,361,437
Use of Funds
District Operating Expenses $ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000 $ 50,000$ 50,000$
968,105
Available for Current Captal Expenses $ 1,378,955$ 1,397,797 $ 1,417,016 $ 1,436,619$ 1,456,614$ 1,477,008$ 1,497,811 $ 1,519,029$ 1,540,672 $ 1,562,747
-
Estimated OPA Reimbursement (75% Net Tif)$ 696,716$ 710,848$ 725,262$ 739,964 $ 754,961 $ 770,256 $ 785,858$ 801,772$ 818,004$
834,560$ 12,214,828
Additional Principal$ 182,239$ 186,949$ 191,754$ 196,655 $ 201,654 $ 206,752 $ 211,952$ 217,258$ 222,668$ 628,186$ 2,966,004
Total Debt Service$ 878,955$ 897,797$ 917,016$ 936,619 $ 956,615 $ 977,008 $ 997,810$ 1,019,030$ 1,040,672 $ 1,462,746 $ 15,180,832
Repay Interfund Loan @ 5%$ -$ -$ -$ - $ - $ - $ -$ -$ -$
-$ 112,500
Total Use of Funds$ 928,955$ 947,797$ 967,016$ 986,619 $ 1,006,615$ 1,027,008$ 1,047,810 $ 1,069,030$ 1,090,672 $ 1,512,746 $ 16,261,437
Ending Balance$ 500,000$ 500,000$ 500,000$ 500,000 $ 500,000 $ 500,000 $ 500,000$ 500,000$ 500,000$ 100,000
Attachment 5.4 Union District Urban Renewal Project
Cash Flow Analysis ~ Current Tax Rate Reduced by 10%
Assumptions
Initial Project Area costs supported by MDC Interfund Loan of $75,000 to be repaid at 5% Interest
Estimated District Operating Expenses at $50,000/Yr.
Land Values will increase at an average of 1% annually over the life of the District - Conservative Estimate
Improvement Values will increase at an average of 2% annually over the life of the District - Conservative Estimate
Estimated most Projects will be developer/owner advance-funded to be reimbursed with available revenues pursuant to negotiated OPA
Estimated most Projects and Public Improvements will be developer/owner advance-funded to be reimbursed with available revenues pursuant to negotiated OPA
Proposed Public Infrastructure$1,215,000
Additional Public Parking Facilities and Open Space$1,510,000
Civic Block Improvements
Civic Block Site Improvements$1,615,000
Structured Public Parking$4,250,000
Sub-Total$5,865,000
Community Center Construction
Total Estimated Construction Cost$6,450,000
Less Proposed City Capital Contribution($3,000,000)
Net District Cost$3,450,000
Estimated Grand Total Subject to Reimbursement$12,040,000
For purposes of determining economic feasibility, it is assumed improvements will be advance funded by owners and/or developers to be reimbursed from available revenue.
The specific terms of any OPA will be negotiated by and between developer and /or owner and MDC.
Positive Fund Balance estimated to be $100,000 available at District Termination