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Joint Project Area Five Year Projections Worksheet -October 2008
<br />BALANCE
<br />Adjusted Cash Balance 7-1-08:
<br />Less 2008-09 Projects/Expenses
<br />General Fund Principle Payment
<br />Senior Center Acquisition
<br />E 14th St Medians
<br />East 14th ST PSR
<br />Bayfair Mall Legal Fees
<br />Downtown Lighting & Ped Improvements
<br />1550 East 14th St Legal Fees
<br />EBMUD Demo
<br />FY 2008-09 Annual Shortfall
<br />Projected Cash Balance 7-1-09
<br />6,568,167
<br />(500,000)
<br />(337,001)
<br />(181,186)
<br />(300,000)
<br />(10,000)
<br />(792,622)
<br />(50,000)
<br />(200,000)
<br />(1,090,958)
<br />3,106,400
<br />Less FY 2009-10 Thru FY 2012-13 SHORTFALL (1,759,778)
<br />Projected Cash Balance 7-1-13 * 1,346,622
<br />* Assumes no cost over runs, additional projects or accelerated payments of General Fund debt
<br />ANNUAL OPERATIONS
<br />Estimated Receipts 2008-09 2009-10 2010-11 2011-12 2012-13
<br />Tax Increment (1) 2,712,049 3,457,862 3,527,020 3,597,560 3,669,511
<br />Interest Income 234,618 150,000 125,000 100,000 75,000
<br />Subtotal Receipts 2,946,667 3,607,862 3,652,020 3,697,560 3,744,511
<br />Estimated Disbursements
<br />Administration/CRP 660,000 679,800 700,194 721,200 742,836
<br />State Take-a-Way (z) 364,769 465,080 474,382 483,870 493,547
<br />Auto Mall Developer Payments 157,847 110,135 121,500 133,265 146,592
<br />Tree Wells 50,000 50,000 50,000 50,000 50,000
<br />Debt Service - GF Loan (int & principle) 297,833 297,833 297,833 297,833 297,833
<br />Bayfair Reimbursement Agreement 250,000 250,000 250,000 250,000 200,000
<br />Debt Service 2001 COP (int & principle) 368,506 343,845 342,857 346,375 344,423
<br />Debt Service 2008 TABS (int & principle) 1,888,670 1,876,687 1,872,937 1,863,187 1,857,6$7
<br />Subtotal Disbursements 4,037,625 4,073,381 4,109,703 4,145,730 4,132,918
<br />Annual Shortfall (3) (1,090,958) (465,518) (457,683) (448,170) (388,407)
<br />Notes
<br />(1) 2% increase projected. City/County split 40/60 in 2008-09, 50/50 2009-10 and beyond.
<br />(2) Unanticipated estimated State take-a-way, includ ed in 2008-09 bu dget, and projected for following years.
<br />(3) General Fund loan and 2001 COP debt service payments to be paid from cash balance.
<br />BOND
<br />2008 Tax Allocation Bond Proceeds:
<br />2008 Tax Allocation Bonds 25,118,012
<br />--Estudillo/Callan Parking Garage (12,118,012)
<br />--Senior Center (13,000,000)
<br />Subtotal Bond Proceed: -
<br />Unfunded Projects:
<br />Utility Undergrounding (150th -Blossom) 8,300,000
<br />E 14th St South Area Improvements 7,000,000
<br />E 14th St/Hesperian/150t1~ Ave Triangle 3,100,000
<br />Contribution to SLUSD 2,500,000
<br />20,900,000
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