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<br />REDEVELOPMENT AGENCY OF SAN LEANDRO
<br />
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />FOR THE YEAR ENDED JUNE 30, 2006
<br />
<br />8. LONG-TERM OBLIGATIONS (Continued)
<br />
<br />At June 30, 2006, future debt service requirement for the 2002 Tax Allocation Bonds were as follows:
<br />
<br />For The Year
<br />Ending June 30,
<br />2007
<br />2008
<br />2009
<br />2010
<br />2011
<br />2012-2016
<br />2017-2021
<br />2022-2026
<br />2027-2031
<br />2032-2033
<br />
<br />Principal
<br />$ 330,000
<br />345,000
<br />525,000
<br />550,000
<br />575,000
<br />3,360,000
<br />3,685,000
<br />2,355,000
<br />2,635,000
<br />955,000
<br />
<br />Total debt service
<br />
<br />Interest
<br />$ 840,018
<br />826,581
<br />807,700
<br />783,500
<br />757,194
<br />3,304,952
<br />2,270,660
<br />1,433,851
<br />688,650
<br />57,450
<br />
<br />Total
<br />$ 1,170,018
<br />1,171,581
<br />1,332,700
<br />1,333,500
<br />1,332,194
<br />6,664,952
<br />5,955,660
<br />3,788,851
<br />3,323,650
<br />1,012,450
<br />
<br />$15,315,000 $11,770,556 $27,085,556
<br />
<br />Bay Fair MaD Debt - (Joint Project Area)
<br />
<br />On June 15, 1998, the Agency committed $4,000,000 to renovate the Bayfair Mall. This debt with City
<br />commitment is at 0% interest and has installments ranging between $200,000 to $400,000 per year over a 15
<br />year period beginning in July 1998.
<br />
<br />At June 30, 2006, future debt service requirements for the Bayfair Mall commitment were as follows:
<br />
<br />For The Year
<br />Ending June 30,
<br />Z007
<br />2008
<br />2009
<br />2010
<br />2011
<br />2012-2013
<br />
<br />Total debt service
<br />
<br />HUD 108 Guarantee - (Housing set-aside)
<br />
<br /> Principal
<br />$ 300,000
<br /> 250,000
<br /> 250,000
<br /> 250,000
<br /> 250,000
<br /> 550,000
<br />$ 1,850,000
<br />
<br />In 2000, the Agency received a $1,000,000 20-year federal loan from Housing and Urban Development, at
<br />an interest rate of 5.6% to finance the acquisition and construction of affordable housing for seniors within
<br />the City. The loan is secured and payable from the Agency's 20% Housing Set-Aside Fund. The tax
<br />increment funds used to repay the loun will be generated from the Cherrywood Development project.
<br />
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