| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Actual | Projected | |||||||||||||||||||
| 2 | Collection Year | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 |
| 3 | Beginning Fund Balance | - | $927,611 | $1,810,050 | $1,606,862 | $1,600,000 | $1,061,526 | $1,284,151 | $1,524,717 | $1,844,473 | $2,184,962 | $2,604,090 | $3,148,024 | $3,823,068 | $4,571,799 | $5,292,889 | $6,090,427 | $6,864,529 | $7,667,523 | $8,211,935 | $8,690,397 |
| 4 | Revenues | ||||||||||||||||||||
| 5 | Property Tax Increment | ||||||||||||||||||||
| 6 | Total Assessed Value | $62,636,290 | $62,864,320 | $61,506,500 | $60,171,710 | $59,745,260 | $61,540,165 | $61,540,165 | $63,370,969 | $63,370,969 | $65,238,388 | $65,238,388 | $67,143,156 | $67,143,156 | $69,086,019 | $69,086,019 | $71,067,739 | $71,067,739 | $73,089,094 | $73,089,094 | $75,150,876 |
| 7 | AV Growth Rate from Reassessment | -1.38% | -2.16% | -3.14% | -0.71% | 2.00% | 0.00% | 2.00% | 0.00% | 2.00% | 0.00% | 2.00% | 0.00% | 2.00% | 0.00% | 2.00% | 0.00% | 2.00% | 0.00% | 2.00% | |
| 8 | Valuation Allocable to Base | $41,891,570 | $41,314,530 | $41,249,053 | $39,952,820 | $40,089,242 | $40,891,027 | $40,891,027 | $41,708,847 | $41,708,847 | $42,543,024 | $40,692,254 | $41,262,571 | $39,783,792 | $43,278,234 | $41,749,058 | $45,122,506 | $44,530,616 | $52,102,295 | $53,198,469 | $58,099,917 |
| 9 | Increment w/o New Projects | $20,744,720 | $21,549,790 | $20,257,447 | $19,620,860 | $19,656,018 | $20,049,138 | $20,649,138 | $21,062,121 | $21,662,121 | $22,095,364 | $24,546,134 | $25,880,584 | $27,359,363 | $25,807,785 | $27,336,961 | $25,945,233 | $26,537,123 | $20,986,798 | $19,890,625 | $17,050,958 |
| 10 | AV Growth from Redevelopment | - | $1,090,810 | - | $598,030 | - | $600,000 | - | $600,000 | - | $600,000 | - | $600,000 | - | $600,000 | - | $600,000 | - | $600,000 | - | $600,000 |
| 11 | Total Increment | $20,744,720 | $22,640,600 | $20,257,447 | $20,218,890 | $19,656,018 | $20,649,138 | $20,649,138 | $21,662,121 | $21,662,121 | $22,695,364 | $24,546,134 | $26,480,584 | $27,359,363 | $26,407,785 | $27,336,961 | $26,545,233 | $26,537,123 | $21,586,798 | $19,890,625 | $17,650,958 |
| 12 | Mill Levy | 55.053 | 56.423 | 55.556 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 | 56.694 |
| 13 | Property Tax Increment Revenue | $1,142,057 | $1,215,904 | $1,125,413 | $1,146,290 | $1,114,378 | $1,170,682 | $1,170,682 | $1,228,112 | $1,228,112 | $1,286,691 | $1,391,619 | $1,501,290 | $1,551,112 | $1,497,163 | $1,549,842 | $1,504,955 | $1,504,496 | $1,223,842 | $1,127,679 | $1,000,703 |
| 14 | Increment Revneue Growth Rate | 3.3% | 6.5% | -7.4% | 1.9% | -2.8% | 5.1% | 0.0% | 4.9% | 0.0% | 4.8% | 8.2% | 7.9% | 3.3% | -3.5% | 3.5% | -2.9% | 0.0% | -18.7% | -7.9% | -11.3% |
| 15 | Specific Ownership Tax | ||||||||||||||||||||
| 16 | Specific Ownership Tax Increment | $150,000 | $153,000 | $159,135 | $146,501 | $160,000 | $163,200 | $166,464 | $169,793 | $173,189 | $176,653 | $180,186 | $183,790 | $187,466 | $191,215 | $195,039 | $198,940 | $202,919 | $206,977 | $211,117 | $215,339 |
| 17 | Increment Revneue Growth Rate | -31.9% | 2.0% | 4.0% | -7.9% | 9.2% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% |
| 18 | Current Sales Tax Increment | ||||||||||||||||||||
| 19 | Current Sales Tax Increment | $489,868 | $489,868 | $504,564 | $412,867 | $514,658 | $530,098 | $546,001 | $562,381 | $579,252 | $596,630 | $614,529 | $632,964 | $651,953 | $671,512 | $691,657 | $712,407 | $733,779 | $755,793 | $778,466 | $801,820 |
| 20 | Increment Revneue Growth Rate | 92.2% | 0.0% | 3.0% | -18.2% | 24.7% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% |
| 21 | Total Revenue | $1,781,925 | $1,858,772 | $1,789,112 | $1,705,658 | $1,789,036 | $1,863,980 | $1,883,147 | $1,960,286 | $1,980,553 | $2,059,974 | $2,186,334 | $2,318,044 | $2,390,531 | $2,359,890 | $2,436,538 | $2,416,302 | $2,441,194 | $2,186,612 | $2,117,262 | $2,017,862 |
| 23 | Expenses | ||||||||||||||||||||
| 24 | Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 25 | Operating Expenses Growth Rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% |
| 26 | Debt Service | ||||||||||||||||||||
| 27 | Series 2012 Bonds | $911,646 | $912,590 | $909,835 | $910,070 | $908,010 | $908,555 | $911,380 | $911,130 | $907,665 | $910,845 | - | - | - | - | - | - | - | - | - | - |
| 28 | Series 2017 Bonds | - | - | - | - | - | $732,800 | $731,200 | $729,400 | $732,400 | $730,000 | $1,642,400 | $1,643,000 | $1,641,800 | $1,638,800 | $1,639,000 | $1,642,200 | $1,638,200 | $1,642,200 | $1,638,800 | $1,643,200 |
| 29 | Transfer from DSRF | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ($1,419,500) | |||
| 30 | Total Net Debt Service | $911,646 | $912,590 | $909,835 | $910,070 | $908,010 | $1,641,355 | $1,642,580 | $1,640,530 | $1,640,065 | $1,640,845 | $1,642,400 | $1,643,000 | $1,641,800 | $1,638,800 | $1,639,000 | $1,642,200 | $1,638,200 | $1,642,200 | $1,638,800 | $223,700 |
| 31 | Total Expenses | $911,646 | $912,590 | $909,835 | $910,070 | $908,010 | $1,641,355 | $1,642,580 | $1,640,530 | $1,640,065 | $1,640,845 | $1,642,400 | $1,643,000 | $1,641,800 | $1,638,800 | $1,639,000 | $1,642,200 | $1,638,200 | $1,642,200 | $1,638,800 | $223,700 |
| 33 | Transfers | ||||||||||||||||||||
| 34 | Transfers-In | $57,332 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 35 | Transfers-Out | - | $63,743 | $1,082,465 | $802,450 | $1,419,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 36 | Net Change in Fund Balance | $927,611 | $882,439 | ($203,188) | ($6,862) | ($538,474) | $222,625 | $240,567 | $319,756 | $340,488 | $419,129 | $543,934 | $675,044 | $748,731 | $721,090 | $797,538 | $774,102 | $802,994 | $544,412 | $478,462 | $1,794,162 |
| 37 | Ending Fund Balance | $927,611 | $1,810,050 | $1,606,862 | $1,600,000 | $1,061,526 | $1,284,151 | $1,524,717 | $1,844,473 | $2,184,962 | $2,604,090 | $3,148,024 | $3,823,068 | $4,571,799 | $5,292,889 | $6,090,427 | $6,864,529 | $7,667,523 | $8,211,935 | $8,690,397 | $10,484,559 |
| 39 | Gross Debt Service Coverage | 1.95x | 2.04x | 1.97x | 1.87x | 1.97x | 1.14x | 1.15x | 1.19x | 1.21x | 1.26x | 1.33x | 1.41x | 1.46x | 1.44x | 1.49x | 1.47x | 1.49x | 1.33x | 1.29x | 9.02x |
| 40 | Net Debt Service Coverage | 1.95x | 2.04x | 1.97x | 1.87x | 1.97x | 1.14x | 1.15x | 1.19x | 1.21x | 1.26x | 1.33x | 1.41x | 1.46x | 1.44x | 1.49x | 1.47x | 1.49x | 1.33x | 1.29x | 9.02x |
| A | B | C | D | |
|---|---|---|---|---|
| 1 | Additional Bonds Test | |||
| 2 | Fiscal Year 2016 Pledged Revenues | |||
| 3 | Taxes | $1,278,991 | ||
| 4 | Sales Tax Increment | $412,867 | ||
| 5 | Investment Income | $17,731 | ||
| 6 | Total Fiscal Year 2016 Pledged Revenues | $1,709,589 | ||
| 7 | Dated Date | 9/28/2017 | ||
| 9 | Final Debt Service Payment | 12/15/2032 | ||
| 10 | Number of Fiscal Years with Outstanding Debt | 15.21 years | ||
| 11 | Total Future Debt Service | $25,383,049 | ||
| 12 | Average Annual Debt Service | $1,668,413 | ||
| 13 | Historic Revenues Test | 1.02x | ||
| 15 | Debt Service Requirements | |||
| 16 | Fiscal Year | Series 2012 | Series 2017 | Total |
| 17 | 2017* | $768,074 | - | $768,074 |
| 18 | 2018 | $908,555 | $732,800 | $1,641,355 |
| 19 | 2019 | $911,380 | $731,200 | $1,642,580 |
| 20 | 2020 | $911,130 | $729,400 | $1,640,530 |
| 21 | 2021 | $907,665 | $732,400 | $1,640,065 |
| 22 | 2022 | $910,845 | $730,000 | $1,640,845 |
| 23 | 2023 | - | $1,642,400 | $1,642,400 |
| 24 | 2024 | - | $1,643,000 | $1,643,000 |
| 25 | 2025 | - | $1,641,800 | $1,641,800 |
| 26 | 2026 | - | $1,638,800 | $1,638,800 |
| 27 | 2027 | - | $1,639,000 | $1,639,000 |
| 28 | 2028 | - | $1,642,200 | $1,642,200 |
| 29 | 2029 | - | $1,638,200 | $1,638,200 |
| 30 | 2030 | - | $1,642,200 | $1,642,200 |
| 31 | 2031 | - | $1,638,800 | $1,638,800 |
| 32 | 2032 | - | $1,643,200 | $1,643,200 |
| 33 | Total | $5,317,649 | $20,065,400 | $25,383,049 |
| 35 | * Includes $730,000 principal payment and $38,074 of interest that will accrue between closing and 12/15/2017. | |||
| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Collection Year | Base Collection Year | Current Year Assessed Value | Projected Growth from Reassessment | AV Increase from Reassessment | AV Increase from Redevelopment | AV Increase from Annexation | Current Year Adjusted Value | Current Year Adjusted Base | Current Year Adjusted Increment | Current Year Increment | Current Year Base | Prior Year Base Percentage | Prior Year Increment Percentage | Base Year Advanced Base Value | Pre-Annexation Base | Adjustment Factor to Year Prior Base | Prior Year Base Advanced by One Year | Current Year Adjusted Base including Reassessment Growth |
| 2 | 1992 | 1982 | 14,124,082 | 533,212 | - | 13,590,870 | (12,192,744) | 1,398,126 | 1,931,338 | 12,192,744 | 89.71% | 10.29% | 12,192,744 | ||||||
| 3 | 1993 | 1982 | 13,370,780 | 668 | - | 13,370,112 | (11,542,418) | 1,827,694 | 1,828,362 | 11,542,418 | 86.33% | 13.67% | 11,542,418 | ||||||
| 4 | 1994 | 1982 | 13,292,330 | 139,516 | - | 13,152,814 | (11,354,824) | 1,797,990 | 1,937,506 | 11,354,824 | 86.33% | 13.67% | 11,354,824 | ||||||
| 5 | 1995 | 1982 | 12,815,956 | 48,260 | - | 12,767,696 | (10,906,661) | 1,861,035 | 1,909,295 | 10,906,661 | 85.42% | 14.58% | 10,906,661 | ||||||
| 6 | 1996 | 1982 | 13,668,290 | 501,350 | - | 13,166,940 | (11,205,356) | 1,961,584 | 2,462,934 | 11,205,356 | 85.10% | 14.90% | 11,205,356 | ||||||
| 7 | 1997 | 1982 | 24,650,580 | 760,160 | 11,465,240 | 12,425,180 | (10,186,246) | 2,238,934 | 2,999,094 | 21,651,486 | 81.98% | 18.02% | 10,186,246 | ||||||
| 8 | 1998 | 1982 | 26,709,570 | 628,260 | 589,550 | 25,491,760 | (22,390,325) | 3,101,435 | 3,729,695 | 22,979,875 | 87.83% | 12.17% | 22,390,325 | ||||||
| 9 | 1999 | 1982 | 26,359,210 | 629,556 | - | 25,729,654 | (22,136,793) | 3,592,861 | 4,222,417 | 22,136,793 | 86.04% | 13.96% | 22,136,793 | ||||||
| 10 | 2000 | 1982 | 30,236,420 | 706,420 | - | 29,530,000 | (24,799,662) | 4,730,338 | 5,436,758 | 24,799,662 | 83.98% | 16.02% | 24,799,662 | ||||||
| 11 | 2001 | 1982 | 30,872,560 | - | - | 30,872,560 | (24,742,780) | 6,129,780 | 6,129,780 | 24,742,780 | 82.02% | 17.98% | 24,742,780 | ||||||
| 12 | 2002 | 1982 | 33,055,890 | 1,612,860 | - | 31,443,030 | (25,209,046) | 6,233,984 | 7,846,844 | 25,209,046 | 80.14% | 19.86% | 25,209,046 | ||||||
| 13 | 2003 | 1982 | 37,656,830 | - | - | 37,656,830 | (26,595,720) | 11,061,110 | 11,061,110 | 26,595,720 | 76.26% | 23.74% | 26,595,720 | ||||||
| 14 | 2004 | 1982 | 37,028,160 | 687,520 | - | 36,340,640 | (25,666,140) | 10,674,500 | 11,362,020 | 25,666,140 | 70.63% | 29.37% | 25,666,140 | ||||||
| 15 | 2005 | 1982 | 37,927,480 | - | - | 37,927,480 | (25,592,840) | 12,334,640 | 12,334,640 | 25,592,840 | 69.32% | 30.68% | 25,592,840 | ||||||
| 16 | 2006 | 1982 | 41,742,240 | 1,322,682 | - | 40,419,558 | (27,274,453) | 13,145,105 | 14,467,790 | 27,274,450 | 67.48% | 32.52% | 27,274,450 | ||||||
| 17 | 2007 | 1982 | 42,179,290 | - | - | 42,179,290 | (27,274,450) | 14,904,840 | 14,904,840 | 27,274,450 | 65.34% | 34.66% | 27,274,450 | ||||||
| 18 | 2008 | 1982 | 63,057,110 | 841,564 | - | 62,215,546 | (40,228,570) | 21,986,976 | 22,828,540 | 40,228,570 | 64.66% | 35.34% | 40,228,570 | ||||||
| 19 | 2009 | 1982 | 64,940,480 | - | - | 64,940,480 | (40,228,570) | 24,711,910 | 24,711,910 | 40,228,570 | 63.80% | 36.20% | 40,228,570 | ||||||
| 20 | 2010 | 1982 | 71,178,890 | 2,332,230 | - | 68,846,660 | (42,648,320) | 26,198,340 | 28,530,570 | 42,648,320 | 61.95% | 38.05% | 42,648,320 | ||||||
| 21 | 2011 | 1982 | 70,541,430 | - | - | 70,541,430 | (42,648,320) | 27,893,110 | 27,893,110 | 42,648,320 | 59.92% | 40.08% | 42,648,320 | ||||||
| 22 | 2012 | 1982 | 61,726,690 | 413,570 | - | 61,313,120 | (37,229,610) | 24,083,510 | 24,497,080 | 37,229,610 | 60.46% | 39.54% | 37,229,610 | ||||||
| 23 | 2013 | 1992 | 62,636,290 | - | - | 62,636,290 | (41,891,570) | 20,744,720 | 20,744,720 | 41,891,570 | 67.82% | 32.18% | 14,124,082 | 41,891,570 | |||||
| 24 | 2014 | 1992 | 62,864,320 | 1,090,810 | - | 61,773,510 | (41,314,530) | 20,458,980 | 21,549,790 | 41,314,530 | 66.88% | 33.12% | 14,124,082 | 41,314,530 | |||||
| 25 | 2015 | 1992 | 61,506,500 | - | - | 61,506,500 | (41,249,053) | 20,257,447 | 20,257,447 | 41,249,053 | 65.72% | 34.28% | 14,124,082 | 41,249,053 | |||||
| 26 | 2016 | 1992 | 60,171,710 | 598,030 | - | 59,573,680 | (39,952,816) | 19,620,864 | 20,218,894 | 39,952,816 | 67.06% | 32.94% | 14,124,082 | 39,952,816 | |||||
| 27 | 2017 | 1992 | 59,745,260 | 198,220 | 48,850 | 59,498,190 | (40,040,392) | 19,457,798 | 19,656,018 | 40,089,242 | 66.40% | 33.60% | 14,124,082 | 40,040,392 | |||||
| 28 | 2018 | 1992 | 61,540,165 | 2.00% | 1,194,905 | 600,000 | - | 60,940,165 | (40,891,027) | 20,049,138 | 20,649,138 | 40,891,027 | 67.10% | 32.90% | 14,124,082 | 40,891,027 | |||
| 29 | 2019 | 1992 | 61,540,165 | - | - | - | - | 61,540,165 | (40,891,027) | 20,649,138 | 20,649,138 | 40,891,027 | 66.45% | 33.55% | 14,124,082 | 40,891,027 | |||
| 30 | 2020 | 1992 | 63,370,969 | 2.00% | 1,230,803 | 600,000 | - | 62,140,165 | (41,289,703) | 20,850,462 | 21,450,462 | 41,920,507 | 66.45% | 33.55% | 14,124,082 | 41,920,507 | |||
| 31 | 2021 | 1992 | 63,370,969 | - | - | - | - | 63,370,969 | (41,920,507) | 21,450,462 | 21,450,462 | 41,920,507 | 66.15% | 33.85% | 14,124,082 | 41,920,507 | |||
| 32 | 2022 | 1992 | 65,238,388 | 2.00% | 1,267,419 | 600,000 | - | 63,970,969 | (42,317,412) | 21,653,556 | 22,253,556 | 42,984,832 | 66.15% | 33.85% | 14,124,082 | 42,984,832 | |||
| 33 | 2023 | 1993 | 65,238,388 | - | - | - | - | 24,546,134 | 40,692,254 | 65.89% | 34.11% | 13,370,780 | 40,692,254 | 0.95 | 40,692,254 | 40,692,254 | |||
| 34 | 2024 | 1994 | 67,143,156 | 2.00% | 1,304,768 | 600,000 | - | 25,880,584 | 41,262,571 | 62.37% | 37.63% | 13,292,330 | 41,262,571 | 0.99 | 40,453,501 | 41,262,571 | |||
| 35 | 2025 | 1995 | 67,143,156 | - | - | - | - | 27,359,363 | 39,783,792 | 61.45% | 38.55% | 12,815,956 | 39,783,792 | 0.96 | 39,783,792 | 39,783,792 | |||
| 36 | 2026 | 1996 | 69,086,019 | 2.00% | 1,342,863 | 600,000 | - | 25,807,785 | 43,278,234 | 59.25% | 40.75% | 13,668,290 | 43,278,234 | 1.07 | 42,429,641 | 43,278,234 | |||
| 37 | 2027 | 1997 | 69,086,019 | - | - | - | - | 27,336,961 | 41,749,058 | 62.64% | 37.36% | 24,650,580 | 41,749,058 | 0.96 | 41,749,058 | 41,749,058 | |||
| 38 | 2028 | 1998 | 71,067,739 | 2.00% | 1,381,720 | 600,000 | - | 25,945,233 | 45,122,506 | 60.43% | 39.57% | 26,709,570 | 45,122,506 | 1.06 | 44,237,751 | 45,122,506 | |||
| 39 | 2029 | 1999 | 71,067,739 | - | - | - | - | 26,537,123 | 44,530,616 | 63.49% | 36.51% | 26,359,210 | 44,530,616 | 0.99 | 44,530,616 | 44,530,616 | |||
| 40 | 2030 | 2000 | 73,089,094 | 2.00% | 1,421,355 | 600,000 | - | 20,986,798 | 52,102,295 | 62.66% | 37.34% | 30,236,420 | 52,102,295 | 1.15 | 51,080,682 | 52,102,295 | |||
| 41 | 2031 | 2001 | 73,089,094 | - | - | - | - | 19,890,625 | 53,198,469 | 71.29% | 28.71% | 30,872,560 | 53,198,469 | 1.02 | 53,198,469 | 53,198,469 | |||
| 42 | 2032 | 2002 | 75,150,876 | 2.00% | 1,461,782 | 600,000 | - | 17,050,958 | 58,099,917 | 72.79% | 27.21% | 33,055,890 | 58,099,917 | 1.07 | 56,960,703 | 58,099,917 |