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Courthouse Square Financial Analysis UOI Y~I D~I'1 I IfIL
<br />Marion County Cost / Funding Analysis Marion County Expansion Marion
<br />Space Space County Total
<br />Capital Costs 12,820,549 10,944,023 23,764,572
<br />Transit Contribution 2.233.585 2 233.585
<br />Net After Transit Cantribution $ 10,586,964 $ 10,944,023 $ 21,530,987
<br />Construction Period - Years 1.83
<br />Invesiment Rate 5.00% 5.00%
<br />Net Interest Cost During Consiruction 174.685 710.901 885,586
<br />Subtotal - incl. Construction Interest $ 10,761,649 $ 11,654,924 $ 22,416,573
<br />Financing Costs 1.5% 177.567 192.306 369.873
<br />Subtotal - incl. Finance Costs $ 10,939,216 $ 11,847,23D $ 22,786,447
<br />Debt Service Reserve 10.0% 1.093.922 1 184.723 2,278.645
<br />Total COP Issue $ 12,033,138 $ 13,031,953 $ 25,065,091
<br />Tax Exempt Portion 12,033,138 2,593,912 $ 14,627,050
<br />Taxable Portion - 10,438,041 $ 10,438,041
<br />Term 25 25
<br />Interest Rate - Tax Exempt Portion 5.75% 5.75%
<br />Interest Rate - Taxable Portion 8.50% 8.50%
<br />Weighted Average Interest Rate 5.75°/a 7.95% 6.90%
<br />Spread 0.75% 2.95%
<br />Debt Service - Tax Exempt portion (919,069) (198,118) (1,117,187)
<br />Debt Service - Taxable portion (1 019.919) (1.019,919)
<br />Total Debt Service (919,069) (1,218,037) (2,137,106)
<br />Interest on Debt Service Reserve 5.0% 54.696 59.236 113.932
<br />NetAnnual DebtService $ (864,373) $ (1,158,801) $ (2,023,174)
<br />Annual Operating Costs $3.75 (228J50) (270 0001 (498,750)
<br />Total Annual Marion County Costs $(1,093,123) $(1,428,801) $(2,521,924)
<br />Tenant Rental Rate (annual) - $ 1.55
<br />Tenant Space Available (gs~ - 72,000
<br />Tenant Occupancy Rate - 95.0%
<br />Tenant Rental Revenue (anoual) - 1,272,240 1,272,240
<br />Retail Land Rental (annual) 12,000 - 12,000
<br />Parking Revenue (annual) 108.000 - 108.000
<br />Total Annual Revenue $ 120,000 $ 1,272,240 $ 1,392,240
<br />County Net Cost After Revenue $ (973,123) $ (156,561) $(1,129,684)
<br />Budget Allowance $ (1 020,000) $ - (1.020.0001
<br />Annual Difference $ 46,877 $ . (156,56.1) $ (109,684)
<br />Ca ital Difference $ (1,290,366)
<br />CG&P! RSC Page 3 3l26/97 11:27 AM Funding
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