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Ogden City Redevelopment Agency July 1, 2014 to June 30, 2015 (FY15) ANNUAL REPORT ---PAGE BREAK--- 1 Annual Report Ogden City Redevelopment Agency Fiscal Year 2015 - Ending June 30, 2015 RDA Governing Board Richard Hyer, Chair Marcia White, Vice-Chair Caitlin Gochnour, Board Member Neil Garner, Board Member Doug Stephens, Board Member Bart Blair, Board Member Amy Wicks, Board Member Executive Director Michael P. Caldwell, Mayor – Ogden City Board Administrator Bill Cook, City Council Executive Director – Ogden City Taxing Entity Committee Natalie Grange Utah Office of Education Zane Woolstenhulme Ogden City School District Jeffrey Heiner Ogden City School District Doug Larsen Weber County Dan Olsen Weber County Richard Hyer Ogden City Tom Christopulos Ogden City Lance Wood Other Taxing Entities Agency Secretary Tracy Hansen, Ogden City Recorder This report is prepared in accordance with Title 17C-1-603 Utah Code Annotated, as amended. The report is for informational purposes and does not alter the amount of tax increment that the agency is entitled to collect from a project area. ---PAGE BREAK--- 2 Table of Contents Redevelopment Agency Profile 3 Redevelopment, Urban Renewal, and Economic Development Project Areas – Map 5 List of Redevelopment, Urban Renewal, and Economic Development Project Areas 6 Highlights 8 Redevelopment Project Area Profiles CBD Mall 11 25th Street 13 St. Benedict Manor 15 Union Gardens 17 Washington Boulevard 19 Lester Park 21 Golden Links 23 Park Boulevard 25 12th Street 27 South CBD 29 Lincoln Avenue 31 Hinckley Airport 33 Fairmount 35 American Can 37 Wall Avenue 39 Ogden River 41 Urban Renewal Project Area Profiles East Washington 43 Economic Development Project Area Profiles Defense Depot Ogden 45 West 12th Street 47 Hinckley Drive 49 South Wall Avenue 51 Trackline 53 Fiscal Year 2014-2015 Financial Statements ---PAGE BREAK--- 3 Redevelopment Agency Profile ESTABLISHMENT. On May 6, 1969 Ogden residents voted to establish a redevelopment agency (the “RDA”) to address deteriorating conditions that existed in the downtown area and inner city neighborhoods. The legislature granted certain powers to local government to create RDAs to facilitate redevelopment of targeted areas, including using a portion of the property tax revenues (known as tax increment) generated by the new investment in the area to finance eligible redevelopment activities. ORGANIZATIONAL STRUCTURE. The RDA and its Board are separate and distinct entities from the City and the City Council. One entity cannot impose obligations on the other. The members of the City Council are designated as the governing board of the RDA. The mayor is designated as the Executive Director. The Council Executive Director acts as the RDA Board Administrator. The RDA contracts with Ogden City for project management and administrative services. AUTHORITY TO ADOPT AND IMPLEMENT PLANS. The RDA adopts plans to guide development and investment activities in project areas. The RDA works closely with Ogden City and the private sector to implement the plans and facilitate improvements. The plans enable the RDA to partner with the private sector to buy, sell, and development property. Currently, the Agency has adopted three types of plans: RDAs, URAs, and EDAs. The state legislature recently amended the redevelopment legislation and changed the name of Redevelopment Areas (RDAs) to Urban Renewal Areas (URAs). URAs still function in much the same way in that the distinguishing characteristics are blight determination, the ability to use eminent domain, and tax increment financing. EDAs do not have eminent domain power, but they are still able to use tax increment financing. For the purpose of this report, RDAs and URAs are listed separately. TAX INCREMENT FINANCING. Tax increment financing is a useful tool available in project areas to support redevelopment. Tax increment is the incremental difference in property tax revenue due to the increase in the assessed value of the property after the project area is created. Example: Assessed value of property pre-project $1,000,000 Assessed value of property post-project $8,000,000 Incremental difference $7,000,000 Tax increment is the property tax paid on the $7,000,000 incremental difference in assessed value. Tax increment revenue can be used by the RDA to offset certain costs incurred to implement the redevelopment plan, e.g., property acquisition, demolition, cost of improvements, etc. Thus, tax increment financing is generally considered a form of developer financing because the tax increment is generated by the investment and property taxes paid by the developer. TAXING ENTITY COMMITTEE. The use of tax increment in EDA or URA project area plans adopted after June 30, 1993 must be approved by an eight-member taxing entity committee (“TEC”) comprised of two representatives from the city, two from the county, two from the school district, one from the state office of education, and one representing the other smaller taxing ---PAGE BREAK--- 4 entities. The TEC has authority to bind their respective taxing entities in approving or disapproving commitments of tax increment. POWER OF EMINENT DOMAIN. The Utah legislature has granted URAs (RDAs) the power of eminent domain for use in limited circumstances to eliminate blight in urban renewal areas if the agency chooses to include the power of eminent domain in its project area plan. In any event, the power of eminent domain expires five years from the date the urban renewal project area plan is adopted. PROJECT AREAS. The RDA has created seventeen (17) redevelopment project areas/urban renewal areas (RDA/URA) and five economic development project areas (EDA) - see map. Within these various project areas, the RDA has used its resources to leverage private investment to construct hotels, encourage development on Historic 25th Street, construct downtown parking garages, develop destination recreation and entertainment centers, expand manufacturing facilities, and build residential developments. HOUSING FUND. In 1997 the RDA established a Housing Fund for RDA purposes. The fund is used in support of qualified housing activities in the community. For urban renewal project area budgets adopted after May 1, 2000 that provide for more than $100,000 of annual tax increment to be paid to the Agency, the Agency is required to allocate at least 20% of the tax increment for income targeted housing or for any housing-related costs in project areas where blight has been found to exist. An Agency may use up to 20% of tax increment outside of project areas for the purpose of increasing, improving and preserving generally the affordable housing supply of the community. ---PAGE BREAK--- 5 Map of Project Areas ---PAGE BREAK--- 6 List of Project Areas REDEVELOPMENT PROJECT AREAS CBD MALL (1977). Created to facilitate the development of the Ogden City Mall. Site was approved in 2004 for a new mixed-use development now known as The Junction. The expiration date of the project area was extended by vote of the taxing entities committee from tax year 2014 to 2026. 25th STREET (1979). Created to assist in the redevelopment of the 25th Street national historic district. This well-known project area has become a hub for downtown activity. Expires 2015; except on Eccles Building (Hampton Inn) 2017. ST. BENEDICT MANOR (1981). Created to convert old hospital to a 100-unit apartment complex for seniors. Tax increment may only be used for recreation center purposes until 2015. UNION GARDENS (1981). Created to facilitate development of low income housing for the disabled and elderly at 3rd Street and Adams Avenue. Tax increment may only be used for recreation center purposes until 2015. WASHINGTON BLVD. (1983). Created to support redevelopment of the central downtown area, including construction of a 600-stall parking garage. Tax increment may only be used for recreation center purposes until 2015. LESTER PARK (1986). Created in support of developing residential inner-city housing. Beginning in 2012 tax increment may only be used for recreation center purposes until 2018. GOLDEN LINKS (1986). Created at the request of the Ogden Odd Fellows in support of a 1.4 acre not-for-profit housing project for the elderly and disabled. Beginning in 2013 tax increment may only be used for recreation center purposes until 2019. PARK BOULEVARD (1986). Created to eliminate blight in and around Park Boulevard near the Ogden River. Beginning in 2012 tax increment may only be used for recreation center purposes until 2018. 12th STREET (1987). Created to assist with the demolition of the old Weber High School property at 12th Street and Washington Blvd. in preparation of development of a commercial center. Beginning in 2016 tax increment may only be used for recreation center purposes until 2022. SOUTH CBD (1987). Created to facilitate improvement and expansion of an automobile dealership in the downtown area. Beginning in 2016 tax increment may only be used for recreation center purposes until 2022. ---PAGE BREAK--- 7 LINCOLN AVENUE (1987). Created to assist with redevelopment of a two-block industrial area in the northwest section of downtown. Beginning in 2018 tax increment may only be used for recreation center purposes until 2024. HINCKLEY AIRPORT (1989). Created to encourage appropriate development on and around the Ogden Hinckley Airport. Expires 2021. FAIRMOUNT (1992). Created to assist in the redevelopment of the closed Volvo White GMC heavy truck plant. Beginning in 2018 tax increment may only be used for recreation center purposes until 2024. AMERICAN CAN (1999). Created to facilitate development of four blocks in the general vicinity between Washington and Wall near the American Can property. Expires 2017. WALL AVENUE (2000). Created to assist with the redevelopment of vacant warehousing and manufacturing space and to facilitate improvement of the vacant parcel on the 100 block of 25th Street as well as the Wall Avenue corridor. Expires 2018. OGDEN RIVER (2002). Created to facilitate redevelopment of the river neighborhood along the Ogden River between Washington Boulevard and Wall Avenue on the north boundary of the Central Business District. Expires 2027. URBAN RENEWAL AREAS EAST WASHINGTON (2009). Created to facilitate retail development on the east side of Washington Blvd. between 20th and 24th streets. Residential development may also be assisted as opportunities arise. Expires 2029. ECONOMIC DEVELOPMENT PROJECT AREAS DEFENSE DEPOT OGDEN (1998). Created to fund replacement of deteriorated infrastructure and construction of new infrastructure required to convert DDO to a manufacturing and business park. Expires 2019. WEST 12TH STREET (2001). Created to facilitate a major expansion of the Fresenius Medical’s manufacturing plant. Expires 2016. HINCKLEY DRIVE (2001). Created to facilitate expansion of the Williams International’s facility to manufacture jet engines. Expires 2016. SOUTH WALL (2012). Created to facilitate the attraction of new and the expansion of existing automobile dealerships along Wall Avenue. Expires 2022. TRACKLINE (2013). Created to facilitate the attraction of new commercial and manufacturing businesses to the otherwise blighted area known as the Ogden Stockyards. Expires 2033. ---PAGE BREAK--- 8 Project Name Project Area Activity Potential Property Tax Increase Potential Sales Tax Increase Direct Job Creation Osprey Packs DDO EDA Opened new 108,000 square foot distribution center $20,198 9 Ogden Business Exchange Trackline EDA Construction commences on new lifestyle business park $190,000 500 PEC Engineers East Washington URA PEC opens new civil engineering office at 2324 Washington Blvd 5 Westland Hyundai South Wall EDA Construction commences on new Hyundai dealership $9,300 $15,000 6 Berlin's Fine Meats and Deli 25th Street RDA Marty Berlin opens 4,000 square deli and market 12 Kiesel Parking Project 25th Street RDA RDA closes on property along Kiesel Avenue to make way for new parking structure Vasa Fitness 12th Street RDA VASA Fitness announces new state of the art gym facility $1,926 $2,815 18 Peg Development Ogden River RDA Construction commences on new downtown luxury apartment project $21,648 6 Highlights ---PAGE BREAK--- 11 Redevelopment Project Area – CBD Mall ---PAGE BREAK--- 12 The CBD Mall Redevelopment Project Area was established in 1977 and encompasses 48.45 acres of land in Ogden’s core downtown area. The Area was established to facilitate the development of a $56 million, 800,000 square foot regional mall by Ernest W. Hahn, Inc. The RDA issued $8,795,000 of tax increment revenue bonds in 1977 for land acquisition, relocation assistance for displaced businesses and capitalized interest to cover initial debt service payments. RDA purchase of the mall. The mall was largely successful until the mid-1990s when it entered into an extended period of decline. In December 2001 the RDA purchased the mall for $6 million. Funding for the purchase came from a $10 million loan to the RDA from the City’s General Fund (source: BDO lease revenue funds). The RDA paid off the outstanding parking garage bonds, demolished the mall building, and prepared the overall site for new development. Reuse and master development guidelines adopted. The Agency engaged Design Workshop, an urban planning firm, to assist the community in preparing reuse and master development guidelines for redeveloping the site. The proposed reuse and development guidelines generated through this process were approved by the Planning Commission and adopted by the Agency board. Site Development. On December 27, 2005 the Agency approved a Development and Lease Agreement between the Agency and The Boyer Company. In accordance with the agreement, the Agency renovated the parking garage and developed a high adventure recreation center, thereafter named the Salomon Center, to anchor the development. Based upon the Agency’s commitment, Boyer negotiated for the development of a multi-screen cinema complex and began construction of a 4 story office building as well as retail, restaurant, and urban residential space in accordance with the master plan. Summary as of June 30, 2015. The City and the RDA have pledged certain revenues to cover debt service payments on the 2005 Series A, 2009A and 2009B bonds. Tax increment revenues from 10 identified RDA districts are pledged for debt service of the 2005 Series A bonds. Lease revenues from Salomon recreation center are pledged for debt service for the 2009 Series A bonds. The 2009 Series B bonds have three revenue sources pledged, which include, tax increment revenue from the CBD Mall RDA project area, and City franchise tax. In February 2011 the RDA issued a tax increment revenue bond in the amount of $1.6 million to facilitate development of the Hilton Garden Inn. Total bonded indebtedness, including the HUD Section 108 Loan, is $27,485,000. How tax increment funds are being used: The TIF is being used to satisfy bond debt service. The City advanced funds to the RDA to assist in demolition and relocation activities associated with the Ogden City Mall. The outstanding balance is $1,751,601. There is insufficient tax increment cash flow to repay this advance and the City books an allowance against this entire amount. Last year to collect tax increment: 2026 ---PAGE BREAK--- 13 Redevelopment Project Area – 25th Street ---PAGE BREAK--- 14 The RDA created the 25th Street Redevelopment Project Area in 1979 to assist development of projects in the 25th Street Historic District. The RDA Project Area encompasses 38.04 acres of land. The Project Area is anchored by the historic Union Station on the west end and the 287- room Marriott Hotel two blocks east. The RDA initiated development of the hotel project by assembling the hotel site and financing its acquisition with tax increment bonds. Ogden City sold land it owned on the block to the RDA for $348,971.70 and financed this sale with a note bearing interest at 8 percent annually. To obtain other privately owned parcels for the hotel and adjacent parking, the RDA borrowed $2,300,000 from Commercial Security Bank (CSB), $418,938.21 from Ogden City general funds, and $160,000 from the City’s CDBG funds. In 1981 the RDA issued a $1,000,000 tax exempt tax allocation bond and obtained a second conventional loan for $552,000, secured by RDA property and anticipated taxed increment revenue. These two loans plus land sale proceeds and a $265,000 loan from the City to the RDA were used to pay off the original $2,300,000 CSB loan. In FY ‘82 and ‘83, the City loaned additional money to the RDA for payment of interest on outstanding loans. By FY ‘84 tax increment became sufficient to service the debt on these loans. In June 1983 the City loaned the RDA $578,679.87 to pay off the outstanding balance of principal and accrued interest on the $552,000 CSB conventional loan, and this loan became an interest-bearing debt of the RDA. The $1,000,000 bond was paid off in 1995. In 2001 the RDA issued a bond in the amount of $1,610,000 in support of an $11 million renovation of the Eccles Building. The Taxing Entities Committee approved using tax increment in the 25th Street Project Area until 2015, with the exception that tax increment generated from the Eccles Building would be available for an additional two years (until 2017) to service the debt on the bonds issued to renovate the Eccles Building. Summary as of June 30, 2015. Tax increment debt outstanding: RDA bonds issued for renovation of the Eccles Building; outstanding balance is $475,000; maturity date is February 1, 2018. How tax increment funds are being used: First priority is to pay debt service on bonds issued to renovate the Eccles Building. Secondary priority is to pay subordinated City debt. The City advanced funds to the RDA to assist in infrastructure and project development in the 25th Street Project Area. The outstanding balance is $1,003,106. There is insufficient tax increment cash flow to repay this advance in its entirety. The City anticipates two more annual payments equaling $340,000 and has an allowance for the remaining balance. Last year to collect tax increment: 2015; except that tax increment generated by Eccles Building may be collected until 2017 for bond debt service. ---PAGE BREAK--- 15 Redevelopment Project Area – St. Benedict Manor ---PAGE BREAK--- 16 The St. Benedict Manor Redevelopment Project Area was formed in October 1981 to encompass 250 acres. This project area was established to facilitate the completion of two projects: 1) the renovation of the vacant former St. Benedict's Hospital into a 100-unit apartment complex for the elderly and handicapped; and 2) the development of the Mt. Ogden Park and Golf Course. Both projects have become valuable assets on the eastern edge of the City. To initiate the St. Benedict’s project, Ogden City obtained a HUD Section 108 loan of $644,772, secured by future years’ CDBG funds. The City loaned this money to the RDA, which in turn provided it to Intermountain Development, the developer of St. Benedict’s Manor. In addition, in 1986 tax increment was also used to pay the City a one-time overhead and administration (O&A) fee of $83,215.80. In 2005 a portion of the tax increment revenue from 10 project areas, including St. Benedict Manor, was pledged to repay the bonds issued for construction of the Recreation Center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledge to use tax increment for Recreation Center. How tax increment funds are being used: Collected for Recreation Center. Last year to collect tax increment: Tax increment may only be used for recreation center purposes until 2015. ---PAGE BREAK--- 17 Redevelopment Project Area – Union Gardens ---PAGE BREAK--- 18 The Union Gardens Redevelopment Project Area was established in October 1981 and covers 7.15 acres. This area, located at 3rd Street and Adams Avenue, was established to facilitate the development of low-income housing for the disabled and elderly. To help the Union Gardens Project, the RDA borrowed $147,449.65 of CDBG monies from Ogden City. In addition to this loan, the City assessed the RDA an overhead and administration charge of $21,867.45. Both debts were structured to accrue interest at the City’s inter-fund interest rate. The RDA in turn provided this money to the developer, Northern Utah Labor Council Housing Corporation (NULCHC) to assist with site preparation and other development costs of their housing project. It was intended that the City debts be repaid from future years’ tax increment. Although tax increment was collected from the Union Gardens Project Area in 1983 and 1984, in 1986 the Weber County Board of Equalization granted Union Gardens tax exempt status, retroactive to 1985. This action followed a 1985 Utah Supreme Court ruling which exempted non-profited housing projects from paying property taxes. When the RDA challenged the tax- exempt status, NULCHC maintained it did not realize the exemption of Union Gardens would affect the amount of tax increment that would be available to repay the CDBG loan. In connection with this, the City also agreed to cease accruing interest on its loan to the RDA so that the reduced amount of tax increment available in the Area could eventually amortize the debt. There is currently no debt in the project area. In 1994 the Union Gardens housing project was acquired by Episcopal Management Corporation. In 2005 a portion of the tax increment revenue from 10 project areas, including Union Gardens, was pledged to repay the bonds issued for construction of the recreation center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledge to use tax increment for recreation center. How tax increment funds are being used: Collected for recreation center. Last year to collect tax increment: Tax increment may only be used for recreation center purposes until 2015. ---PAGE BREAK--- 19 Redevelopment Project Area – Washington Boulevard ---PAGE BREAK--- 20 The Washington Boulevard Redevelopment Project Area was established in June 1983 and encompasses 38.04 acres in downtown Ogden. This area was established to facilitate new development in Ogden's central business district. With assistance from several funding sources, the RDA has been involved in multiple revitalization projects including development of the State Regional Office Building and the Juvenile Courts Building. Funding for these projects included loans of $750,000 from a group of local banks, $250,000 from the Ogden Industrial Development Corporation (OIDC), and $785,000 from Ogden City’s CDBG funds. In 1991 it was determined that the City's participation in various redevelopment activities within the project area since the project area was created in 1983 totaled $3,021,617. This amount has been carried on the City's books as a commitment of the RDA to reimburse the City if there is sufficient tax increment generated from the project area. The RDA issued tax increment revenue bonds in November 1991 in the amount of $1,425,000 to construct the 657-stall parking garage on Kiesel Avenue. The bond was retired in December 2006. In 2005 a portion of the tax increment revenue from 10 project areas, including Washington Blvd., was pledged to repay the bonds issued for construction of the recreation center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledged to use tax increment for Recreation Center. How tax increment funds are being used: Collected for Recreation Center. The City advanced funds to the RDA to assist in various development activities associated with key projects on Washington Blvd. The outstanding balance is $3,016,953. No tax increment is available to repay this obligation and the City books an allowance for the entire amount. Last year to collect tax increment: Tax increment may only be used for recreation center purposes until 2015. ---PAGE BREAK--- 21 Redevelopment Project Area – Lester Park ---PAGE BREAK--- 22 The Lester Park Redevelopment Project Area was established in 1986 and encompasses 76 acres. The Area was formed to undertake projects that would upgrade and support the residential character of the neighborhood and improve the quality of the commercial development in support of the neighborhood. The redevelopment of vacant/under-utilized land, especially interior block areas, is a key aspect of this revitalization effort. Improvements to public facilities and rehabilitation of existing buildings are also primary elements of the plan for this area. As part of this effort, the Kier Corporation’s renovation of the Fontanelle Apartments on Monroe Boulevard began shortly after the project area was formed. To assist Kier’s efforts in renovating this vacant, seriously deteriorated building, the RDA loaned Kier $80,000 of CDBG funds to assist with the purchase of the property. Of this amount, $45,000 was a loan to Kier and the other $35,000 was a grant to be repaid from tax increment. The City loaned the RDA the $35,000 at the inter-fund rate. With this loan, the City also assessed the RDA administrative costs of $3,000, to be paid from tax increment. Other smaller amounts of debt have been incurred in this area in the demolition of buildings and related costs of maintaining the RDA-owned property. In 2005 a portion of the tax increment revenue from 10 project areas, including Lester Park, was pledged to repay the bonds issued for construction of the Recreation Center at The Junction. The RDA will collect 60% of the tax increment in the Lester Park Area until 2011. Summary as of June 30, 2015. Tax increment debt outstanding: Pledge to use tax increment for recreation center. How tax increment funds are being used: Collected for recreation Center project. Collected for RDA administrative and housing costs. Last year to collect tax increment: Beginning with 2012 tax increment may only be used for recreation center purposes until 2018. ---PAGE BREAK--- 23 Redevelopment Project Area – Golden Links ---PAGE BREAK--- 24 The Golden Links Redevelopment Project Area was formed in 1986 and, at 1.44 acres, is the smallest of Ogden’s redevelopment project areas. The area consists exclusively of property owned by the Independent Order of Odd Fellows, mostly at the center of a city block. The project area was established in response of a request by the Odd fellows for assistance in developing a not-for-profit housing project for the elderly and disabled. The Odd fellows had already obtained most of the funding for the project from HUD. However, to help the Odd fellows with land costs that HUD would not cover and to pay for aesthetic changes that HUD refused to fund, but which the City felt were important to mitigate the impact of the project, the City loaned the RDA $70,000. The RDA loaned this money to the Odd Fellows to assist with the development of the project. The interest rate was established at the inter-fund rate, and the City assessed the RDA O&A charges of $10,500. The loan, interest and O&A were repaid through tax increment. The Odd Fellows also agreed not to request tax exempt status for at least 15 years. They further agreed to try to acquire and develop other small contiguous parcels on the interior of the block that had no street frontage. They were able to obtain one such parcel as a donation form Smith’s Management Company and developed it as a mini-park for the use of Golden Links tenants, thereby further enhancing the attractiveness of the project. In 2005 a portion of the tax increment revenue from 10 project areas, including Golden Links, was pledged to repay the bonds issued for construction of the Recreation Center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledge to use tax increment for Recreation Center. How tax increment funds are being used: Collected for Recreation Center project. Collected for RDA administration and housing eligible costs. Last year to collect tax increment: Beginning in 2013, tax increment may only be used for recreation center purposes until 2019. ---PAGE BREAK--- 25 Redevelopment Project Area – Park Boulevard ---PAGE BREAK--- 26 The Park Boulevard Redevelopment Project Area was established in 1986, covering 43.60 acres. This project area was established to eliminate and prevent the spread of blight through the clearance of blighted buildings, replacement of public infrastructure, and redevelopment of land for commercial and residential purposes. In 2005 a portion of the tax increment revenue from 10 project areas, including Park Blvd., was pledged to repay the bonds issued for construction of the recreation center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledged for the recreation center project. How tax increment funds are being used: Collected for the recreation center project. Collected for RDA administrative and housing purposes. Last year to collect tax increment: Beginning in 2012, tax increment may only be used for recreation center purposes until 2018. ---PAGE BREAK--- 27 Redevelopment Project Area – 12th Street ---PAGE BREAK--- 28 The 12th Street Redevelopment Project Area was established in 1987 and encompasses 23.64 acres. The area was formed to assist with the redevelopment of the old Weber High School property at 12th Street and Washington Boulevard, and also to refurbish the adjacent shopping center property. The developers for these projects were Shopko and Rayco. To assist with this development, the RDA borrowed $784,000, at no interest, from the developer. The RDA also agreed to pay the City O&A costs of $117,660. The $784,000 was used to assist the developers with demolition and infrastructure costs associated with preparing the site for development. The loan has been entirely paid. In 2005 a portion of the tax increment revenue from 10 project areas, including 12th Street, was pledged to repay the bonds issued for construction of the Recreation Center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledged for the recreation center project. How tax increment funds are being used: Collected for the recreation center project. Collected for RDA administrative and housing purposes. Last year to collect tax increment: Beginning in 2015 tax increment may only be used for recreation center purposes until 2022. ---PAGE BREAK--- 29 Redevelopment Project Area – South CBD ---PAGE BREAK--- 30 The South CBD Redevelopment Area was established in 1987 and covers 28.54 acres. This project area was established to encourage Hinckley Dodge to construct new facilities in the downtown area for its automobile dealership. The project would act as an anchor for the south end of the central business district. The RDA borrowed $200,000 from the developer to assist with demolition, site improvements and streetscape at Hinckley Dodge. The obligation was paid off in FY2005. In 2005 a portion of the tax increment revenue from 10 project areas, including South CBD, was pledged to repay the bonds issued for construction of the recreation center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledged for the recreation center project. How tax increment funds are being used: Collected for the recreation center project. Collected for RDA administrative and housing purposes. Last year to collect tax increment: Beginning in 2016 tax increment may only be used for recreation center purposes until 2022. ---PAGE BREAK--- 31 Redevelopment Project Area – Lincoln Avenue ---PAGE BREAK--- 32 The Lincoln Avenue Redevelopment Project Area was established in 1987 and encompasses 25.54 acres between Lincoln and Wall Avenue and between 23rd and 25th Streets. This project area was formed to help with the redevelopment of the blighted area west of the Ogden Park Hotel and adjacent to Historic 25th Street. The City participated in the acquisition and improvements related to the redevelopment of the former Burton Walker Lumber Company site to accommodate Amalgamated Sugar’s corporate headquarters and to develop parking for Historic 25th Street. A significant addition to the project area has been the acquisition and renovation of the Scowcroft Building by Cottonwood Partners as lease space to GSA for IRS use. In 2012, The Agency, once again, worked closely with the General Services Administration to identify a site for a new IRS facility in downtown Ogden. The site selected for the new office building is on the NW corner of the intersection of Lincoln Avenue and 24th Street which is within the Lincoln Avenue Redevelopment Project Area. The Boyer Company was selected by GSA to be the developer for a 149,500 SF four story office building employing approximately 750 IRS workers. In 2005 a portion of the tax increment revenue from 10 project areas, including Lincoln, was pledged to repay the bonds issued for construction of the recreation center at The Junction. Summary as of June 30, 2015. Tax increment debt outstanding: Pledged for the recreation center project. Tax increment commitments: RDA has entered into a Development Agreement with The Boyer Company pledging the tax increment generated from the Lincoln Center project, not to exceed $500,000 before December 31, 2017. This amount has been satisfied. How tax increment funds are being used: Collected for the recreation center project. Collected for distribution to The Boyer Company. Collected for RDA administrative and housing purposes. Last year to collect tax increment: Beginning in 2018, tax increment may only be used for recreation center purposes until 2024. ---PAGE BREAK--- 33 Redevelopment Project Area – Hinckley Airport ---PAGE BREAK--- 34 The Airport Redevelopment Project Area was established in 1989 and encompasses 115 acres. The project area was formed to facilitate commercial and manufacturing development of the 26- plus acre privately owned parcel immediately adjacent to the south side of the airport and, as the market justifies, redevelopment of the west side of the airport. In 2003, Kemp Development commenced development of the Ogden Gateway Center. The first phase of development included constructing an 80,000 square foot terminal/hangar building. Several airport-related tenants have leased space in Building One. Kemp constructed a second building containing 55,000 square feet of manufacturing/hangar space and 36,000 square feet of office/commercial space. The RDA has pledged the available tax increment from the project area to support development and implementation of the RDA plan. The tax increment generated in this project area will be distributed according to a statutory schedule. Beginning with the first year that tax increment is collected, 100% is available for project development costs. Every five years thereafter, however, the percentage available to the project is reduced as indicated hereafter: 100% 2005-2009 80% 2010-2014 75% 2015-2019 70% 2020-2021 The project area expires in 2021. Summary as of June 30, 2015. Tax increment debt outstanding: None Pass through (non-recourse) tax increment commitments: RDA has entered into a Development Agreement pledging the tax increment generated from Building One to facilitate the project. How tax increment funds are being used: Tax increment is being collected pursuant to the Development Agreement. No tax increment is being collected for RDA administrative purposes. Last year to collect tax increment: 2021 ---PAGE BREAK--- 35 Redevelopment Project Area – Fairmount ---PAGE BREAK--- 36 The Fairmount Project Area was created by the RDA in 1992 and encompasses 87 acres generally located near Avenue and the Expressway. This project area was formed to assist in the redevelopment of the Volvo White GMC heavy truck plant. In 1992 the RDA issued tax increment bonds in the amount of $2,070,000 for the purpose of correcting detrimental conditions and deficiencies at the Volvo White facility in order to make the facility marketable and to reverse the regional economic hardship created with the closing of the truck manufacturing plant. The property was acquired by Autoliv and the bonds have been retired. In 2005 a portion of the tax increment revenue from 10 project areas, including Fairmount, was pledged to repay the bonds issued for construction of the Recreation Center at The Junction. In 2007 the RDA issued $3,300,000 in bonds to acquire a portion of the Autoliv site for construction of a distribution center and warehouse for US Foods. The outstanding principal balance as of June 30, 2015 is $825,000 and the maturity date is March 1, 2018. Summary as of June 30, 2015. Tax increment debt outstanding: US Foods bonds Pass through (non-recourse) tax increment commitments: US Foods. In the event that tax increment exceeds bond debt service, US Foods is entitled to the difference. If tax increment collections are less than bond debt service, US Foods is required to make up the difference. How tax increment funds are being used: Collected for the recreation center project. Collected for US Foods bonds. Collected for distribution to US Foods, if available. Collected for RDA administrative and housing purposes. Last year to collect tax increment: Beginning in 2018, tax increment may only be collected for recreation center purposes until 2024. ---PAGE BREAK--- 37 Redevelopment Project Area – American Can ---PAGE BREAK--- 38 The American Can Redevelopment Project Area is a four-block area located in the NW section of the central business district. Among the opportunity parcels that were targeted for redevelopment were the vacant 250,000 square foot American Can complex and Block 37 which is located on the east side of Wall Avenue between 22nd and 23rd Streets. Block 37 was purchased by the RDA and sold to The Boyer Company who developed the property as the Twin Rivers IRS office complex. The American Can property was acquired by a developer in 2007 who initiated renovation of the property. The total project cost, over a period of years, is estimated to be $21.5 million. The project is currently anchored by Amer Sports. The RDA authorized using 75% of the tax increment from the American Can property for project development. This is a non-recourse commitment meaning that the tax increment will be passed through to the developer for project use if tax increment is generated from developer investment. The RDA previously authorized $4.1 million of tax increment from the American Can Project Area to be used for construction and operation of a 500-stall parking garage adjacent to the American Can complex. The RDA borrowed $2.1 million to fund a portion of the cost of constructing the $4 million parking garage. The $2.1 million loan was repaid in FY2006 with bond proceeds from the Series 2005C-2 bonds which were issued in conjunction with redevelopment of the CBD Mall site. Summary as of June 30, 2015. Tax increment debt outstanding: None. Though not formally pledged, the Agency is using tax increment to make debt service payments pertaining to the American Can parking garage. Pass through (non-recourse) tax increment commitments: Agreement with Amcan Properties, LLC to pass through to the project 75% of the tax increment. How tax increment funds are being used: Tax increment being collected for pledge made to developer. Tax increment being collected for the purpose of paying debt service on bonds related to the parking garage - $357,000 annually. Tax increment being collected to pay for operating and maintenance of the parking garage. Tax increment being collected for RDA administrative costs and housing. Last year to collect tax increment: 2017 ---PAGE BREAK--- 39 Redevelopment Project Area – Wall Avenue ---PAGE BREAK--- 40 The Wall Avenue Redevelopment Project Area was created in 2000 to facilitate and encourage development of the former Shupe Williams Candy Company building located on the corner of 26th Street and Wall Avenue, the Wall Avenue corridor between 25th and 29th Streets and the undeveloped property on the south side of the 100 block of Historic 25th Street. The RDA committed $675,000 of tax increment in the form of a bond to the Union Square project on the 100 block of 25th Street. Union Square is a phased $10.1 million mixed-use project consisting of 60 owner-occupied residential units and 14 retail/office spaces fronting 25th Street. The Union Square project is the largest private development to-date built on Historic 25th Street. The Union Square project changed ownership in 2005 when it was acquired by 25th Street Associates, LC. All units in phase 1 have been sold. Additional phases may be constructed if the market justifies. Final payment of the $675,000 RDA bond on Union Square is scheduled for February 2019. Summary as of June 30, 2015. Tax increment debt outstanding: The outstanding balance of the Union Square bond is $285,000. The bond matures in February 2019. How tax increment funds are being used: Bond debt service. RDA administrative costs and housing. Last year to collect tax increment: 2018 ---PAGE BREAK--- 41 Redevelopment Project Area – Ogden River ---PAGE BREAK--- 42 The Ogden River Redevelopment Project Area was established on August 27, 2002 for the purpose of developing a mixed-use, mixed-income urban riverfront neighborhood on the northern edge of Ogden’s downtown business district. The RDA adopted a 15-year tax increment budget when the Project Area was established based on projected private investment of $150 million in the Project Area. The tax increment generated from the development was budgeted as follows: $11,250,000 (53.59%); project expenses $3,000,000 (14.29%); housing-related expenses $750,000 RDA administrative costs $5,991,224 (28.54%); pass-through to taxing entities. The City entered into a $3 million line-of-credit agreement with First National Bank in FY2006 to fund Ogden River Project property acquisitions and demolition activities. During FY 2011 the RDA approved a tax increment loan from the BDO Project Area to the Ogden River Project Area in the amount of $1.7 million to retire the line-of-credit with First National Bank. The BDO loan carries a 0% interest rate and matures on June 30, 2014. Also in FY2006, the City authorized a $2.5 million loan to the RDA to be used with the bank loan for the purpose of acquiring properties. The City loan was a five year, 0% interest loan to be repaid from land sale proceeds that are not part of development agreement incentives. Summary as of June 30, 2015. Tax increment debt outstanding: BDO Project Area loan with a current principal balance of $702,423. This loan paid a line-of-credit from First National Bank, carries a 0% interest rate and will mature on June 28, 2014. Of the $2.5 million authorized by the City in FY 2006, the RDA has only drawn $2 million. City loan from refuse fund with a principal balance of $2,042,191 and will mature on June 30, 2016. How tax increment funds are being used: Tax increment funds are being used for property acquisition and property maintenance. Last year to collect tax increment: 2027 ---PAGE BREAK--- 43 Urban Renewal Project Area – East Washington ---PAGE BREAK--- 44 The East Washington Urban Renewal Project Area was established in 2010 and encompasses a four block area on the east side of Washington Blvd. between 20th and 24th streets. The Area was established to facilitate primarily retail development in Ogden’s downtown business district. Residential development may be assisted as opportunities arise. The provisions of the plan provide a framework to facilitate economic reinvestment, physical reconstruction and neighborhood resurgence in a four block area of downtown Ogden. The plan promotes a vision for a mixed-use neighborhood that will draw people downtown and incorporates land uses, urban design development strategies that are in harmony with Ogden’s general plan. It is the expectation of the Agency that the renaissance occurring in downtown Ogden will continue through partnerships among land owners, developers, investors, business leaders, neighborhood groups, and local, state and federal government leaders. The role of the Agency in accomplish the objects of this urban renewal plan she be, to the maximum possible extent, to encourage and assist private enterprise to invest in downtown Ogden and pursue development activities that will support and sustain Ogden’s downtown core as an attractive and vibrant urban district. In 2013 the Agency entered into a Participation and Reimbursement Agreement with Tower Heights, LLC for the development of 128 market rate apartment units on the corner of 23rd and Washington Blvd. This agreement pledged 75% of the tax increment generated by the developer’s project to the developer until 2031 or up to $1 million, whichever comes first. Summary as of June 30, 2015. Tax increment debt outstanding: None Pass through (non-recourse) tax increment commitments: Agreement with Tower Heights, LLC to pass through to the project 75% of the tax increment generated by the multi-family apartment project How tax increment funds are being used: Pledge to developer via development agreement RDA administrative costs and housing. Last year to collect tax increment: 2031 ---PAGE BREAK--- 45 Economic Development Project Area – Defense Depot Ogden ---PAGE BREAK--- 46 The 1995 Base Realignment and Closure Commission (BRAC) recommended closure of Defense Distribution Depot Ogden (DDO). Ogden City was recognized as the appropriate local entity to oversee acquisition and reuse of the DDO property and was designated as the Local Redevelopment Authority (LRA). A master development plan was adopted for the 1100-acre depot and The Boyer Company was competitively selected to work with the City to convert the depot into a commercial and business park. In 1998 the RDA dedicated 75% of the tax increment revenue generated from new development to fund reconstruction of deteriorated infrastructure systems and construction of new infrastructure necessary to support commercial development. The RDA issued 3 tax increment bonds in 2001 and 2002 for a total of $12 million to fund infrastructure improvements. The Series 2002A bonds were retired 12/30/05. In 2011, the RDA re-funded the Series 2009A and 2009B to take advantage of low interest rates and shorten the term of the bond. The Series 2011 bonds expired in December 2013. Summary as of June 30, 2015. Tax increment debt outstanding: Tax increment bonds totaling $1,810,000 have been paid in full. How tax increment funds being used: First priority tax increment is being used to satisfy bond debt service. Second priority tax increment is being used to fund other infrastructure improvements at BDO as funding is available. Last year to collect tax increment: 2019 ---PAGE BREAK--- 47 Economic Development Project Area – West 12th Street ---PAGE BREAK--- 48 The West 12th Street Economic Development Project Area was created in 2001 in support of an initial plant expansion by Fresenius Medical estimated at $75 million. Fresenius’ total taxable value in 2007 was an estimated $115,000,000. The RDA adopted a $4,704,972 10-year cumulative tax increment budget when the Project Area was established. According to that budget, $2,550,000 (54.2%) was pledged to Fresenius for its expansion, $658,696 (14.0%) for RDA housing activities, $84,784 for administration and the remaining $1,411,492 (30%) would flow-through to the other taxing entities. In FY 2007 the RDA, with approval of the taxing entities committee, adopted a percentage-based budget providing 70% of the tax increment for RDA-eligible costs and 30% being passed through to the taxing entities through tax year 2016. This percentage-based budget was adopted in lieu of a fixed amount budget. This arrangement would allow the RDA to meet periodically with Fresenius to discuss the level of RDA participation that may be available for expansion opportunities. In 2006 the RDA agreed to relocate the Weber School District bus maintenance facilities to an alternative location in order to accommodate the acquisition of the bus maintenance property by Fresenius for expansion purposes. The RDA issued two series of bonds in FY 2007 to fund the replacement bus maintenance facilities – Series 2006A (tax-exempt) in the amount of $3,500,000 and Series 2006B (taxable) in the amount of $2,500,000. The Series 2006B was paid in full in 2011. A third bond was issued in 2008 in the amount of $3,000,000 to complete the relocation project. Summary as of June 30, 2015. Tax increment debt outstanding: 2006 Series A bonds (tax-exempt) $1,305,000 2008 Series A bonds (tax exempt) $865,000 Pass through (non-recourse) tax increment commitments: None How tax increment funds being used: Development obligations 54.2% o First priority Debt service on bonds o Second priority Pass through to Fresenius RDA housing projects 14.0% RDA Administration 1.8% Pass through to taxing entities 30.0% 100.0% Last year to collect tax increment: 2016 ---PAGE BREAK--- 49 Economic Development Project Area – Hinckley Drive ---PAGE BREAK--- 50 The Hinckley Drive Economic Development Project Area, located adjacent to the north end of the Ogden Hinckley Municipal Airport, was created in 2001 to facilitate expansion of William International’s jet engine manufacturing facility. Williams selected its Ogden plant for expansion following a nationwide competitive search. The expansion included construction of a 50,000 square foot production facility and in excess of $137 million in new tools and machinery. An estimated 194 new positions will be created by the year 2015 as a result of the expansion project. The RDA adopted a 15-year tax increment budget when the Project Area was established. The budget provides that 70% of the tax increment will be collected by the RDA and the remaining 30% will flow through to the taxing entities. Based upon company capital investment projections, the cumulative amount collected by the RDA will be approximately $6.8 million and the amount passed through to the taxing entities will be approximately $2.9 million through tax year 2016. Summary as of June 30, 2015. Tax increment debt outstanding: None Pass through (non-recourse) tax increment commitments: 15 year non-recourse commitment to pass through 53.9% of the tax increment to Williams to facilitate an estimated $137 million expansion. How tax increment funds are being used: Tax increment is being distributed in accordance with a development agreement with Williams: Williams expansion 53.9% RDA Administration 2.1% RDA housing 14.0% Flow-through to taxing entities 30.0% Total 100.0% Last year to collect tax increment: 2016 ---PAGE BREAK--- 51 Economic Development Project Area – South Wall Avenue ---PAGE BREAK--- 52 The Agency created the South Wall EDA Project Area in 2011. The project area was created to facilitate the retention and expansion of automobile dealerships and other existing and related businesses along that specific part of the Wall Avenue Corridor. As a result of the project area, the John Watson Chevrolet automobile dealership was able to develop plans to expand their existing facilities to include a new state-of-the-art showroom and service area. The new dealership opened in early 2013. The RDA adopted a ten-year tax increment budget as part of the project area plan. The budget provides that 100 percent of the increment will be collected by the RDA with all of the increment flowing through to the Agency. Based on negotiations with John Watson, initial capital improvement investment for the John Watson expansion is estimated to be $3.5 million. 100 percent of the increment derived from the Watson expansion will flow back to John Watson. Summary as of June 30, 2015. Tax increment debt outstanding: None Pass through (non-recourse) tax increment commitments: 100 percent of the available increment from the $3.5 million capital improvement investment made by John Watson will flow back through to John Watson. The Agency expects that this amount will range from $250,000 to $450,000. Last year to collect tax increment: 2022 ---PAGE BREAK--- 53 Economic Development Project Area – Trackline ---PAGE BREAK--- 54 The Agency created the Trackline EDA Project Area in 2013 which encompasses approximately 122 acres in West Ogden. This new project area replaces the Golden Spike Project Area first adopted in 1989, comprising approximately the same geographic area. Historically, the project area was used primarily as a stockyard and livestock exchange. The stockyards and exchange building are no longer used for those purposes, with some of the buildings currently used as storage and some of the buildings sitting vacant. Land within the project area has been assembled by the Agency. A 51-acre master planned business park is underway that will accommodate multiple commercial and light industrial business and owners. It is intended that Section I (north of Exchange Road) of the Project Area will become the business park. It is intended that Section II (south of Exchange) will be developed into commercial and flex space. The RDA adopted a 20-year tax increment budget when the Project Area was established based on projected private investment of $52 million in the Project Area. The tax increment generated from the development was budgeted as follows: $7,000,000 project expenses $2,602,780 housing-related expenses $650,695 RDA administrative costs $2,760,426 pass-through to taxing entities. In 2014, the Agency approved a HUD Section 108 loan in the amount of $3.34 million to be used for acquisition and development of the project. Also in 2014, the Agency approved the Master Land Transfer and Development Agreement with OBE Vision, LLC setting forth the terms and conditions of construction of the project and committing 100% of the $7,000,000 tax increment available for project expenses to the developer. Summary as of June 30, 2015. Tax increment debt outstanding: None Pass through (non-recourse) tax increment commitments: $7,000,000 of tax increment pledged to OBE Vision, LLC to assist in the development of the Project. Last year to collect tax increment: 2033 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Interest on Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt Bonded Debt borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated CBD MALL DISTRICT 27,485,000 $ 22,150,922 $ Undetermined 49,635,922 $ 2004/2005 Various Not Known 2026 Unknown Unknown Unknown Unknown Debt repayment is committed to come from tax increment, lease revenues, fees and other sources. ---PAGE BREAK--- CBD Mall OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - CBD MALL June 30, 2015 Inputs & Assumptions Base year: 2001 Tax Year Expiration: 2026 Original tax base: 3,161,208 $ Anticipated tax base increment: Undetermined Year tax increment Available to RDA 2009 Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: 27,485,000 $ Anticipated future debt / negative cash flows: Undetermined Base - $ 3,161,208 $ - $ - $ pre-demo 2002 Unavailable 24,463,785 21,302,577 - 284,152 - - - 1,015,392 9,765,613 (5,569,735) (5,995,000) (651,887) (76,400) (1,227,865) (174,796) pre-demo 2003 Unavailable 24,463,785 21,302,577 284,152 12,222 - - - 1,460,511 770,563 - (610,000) (1,351,177) (10,581,260) (10,299,141) 126,183 pre-demo 2004 Unavailable 23,790,192 20,628,984 12,222 38,869 - - - 385,306 - (717,844) (393,000) (69,910) (162,997) (919,576) (348,707) 2005 Unavailable 7,555,825 4,394,617 38,869 110,596 327,307 1,155,000 - 12,776,001 - (518,380) - (61,692) (871,351) 12,917,481 1,449,258 2006 Unavailable 6,856,732 3,695,524 437,903 59,487 697,709 - - 37,868,994 - (18,810,705) (6,998,066) - (884,176) 11,933,243 1,991,381 2007 Unavailable 3,161,208 - 757,196 117,700 564,890 - - 2,743,508 - (2,839,102) (16,400,600) - - (15,813,604) 101,434 2008 Unavailable 3,161,208 - 682,590 247,318 - - 694,800 5,157,905 361,324 (2,474,411) (665,140) - (247,411) 3,074,386 513,636 2009 Unavailable 3,161,208 - 247,318 1,029,401 - - 694,800 2,117,878 376,788 (3,187,385) (301,101) - (891,241) (160,860) (54,402) 2010 Unavailable 40,397,893 37,236,685 1,029,401 1,134,593 - - 694,800 33,295,862 357,000 (33,705,470) (407,277) - (1,364,931) 4,577 143,941 2011 Unavailable 41,046,258 37,885,050 1,134,593 1,206,132 - - 694,800 3,160,286 357,000 (3,232,610) (1,526,185) - (740,620) (81,197) (38,600) 2012 Unavailable 45,264,851 42,103,643 1,206,132 1,175,350 - - 695,814 2,239,318 357,000 (3,665,124) (17,248) - (720,112) 64,998 469,024 2013 Unavailable 42,053,693 38,892,485 1,256,000 1,294,441 - 695,740 1,994,340 250,000 (3,669,204) - - (572,653) (7,336) 264,976 2014 Unavailable 43,650,589 40,489,381 1,750,000 1,379,553 - - 694,800 1,903,474 306,890 (3,692,998) (125,000) - (289,713) 177,005 441,981 2015 Unavailable 44,548,280 41,387,072 1,300,000 1,356,988 - - 694,800 1,723,152 - (3,489,686) - - (217,599) 67,654 509,635 Projected 2016 1 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,806,725) - - - - 509,635 " 2017 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (2,839,082) - - - - 509,635 " 2018 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (2,858,206) - - - - 509,635 " 2019 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,271,024) - - - - 509,635 " 2020 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,211,076) - - - - 509,635 " 2021 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,201,362) - - - - 509,635 " 2022 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,178,353) - - - - 509,635 " 2023 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,179,887) - - - - 509,635 " 2024 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,095,901) - - - - 509,635 " 2025 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (3,083,520) - - - - 509,635 " 2026 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (2,746,883) - - - - 509,635 " 2027 Unavailable 44,548,280 41,387,072 1,300,000 - - - - - - (776,059) - - - - 509,635 " 2028 Unavailable 44,548,280 41,387,072 - - - - - - (769,894) - - - - 509,635 " 2029 Unavailable 44,548,280 41,387,072 - - - - - - (671,010) - - - - 509,635 " 2030 Unavailable 44,548,280 41,387,072 - - - - - - (666,525) - - - - 509,635 " 2031 Unavailable 44,548,280 41,387,072 - - - - - - (672,273) - - - - 509,635 25,736,376 $ Total Projected (9,446,802) $ Less amount received through 2015 2,366,002 (97,983,770) 16,289,575 $ Projected vs. Actual 1 The 2016 tax projection is based on the 2016 adopted budget Property Purchases and Development Haircut Taxes Demolition Other Cash Outflows Net Change Cash Balance Housing Money from Districts Rec Center Lease Revenue Other Cash Inflows Starting 2008 Amer Can Transfers In Debt Repayment Fiscal Year Original TEC Increment Budget County Assessed Property Value Increment Value Projected Tax Increment Tax Increment ---PAGE BREAK--- Page 3 of 6 RDA - CBD MALL DISTRICT - 3140 Change in Equity July 1 - June 30 2011 Balance Sheet 1,206,132 $ Property taxes Cash (38,600) $ 16,263 $ Sale of Property Investments 483,650 $ 1,114 $ Interest Note receivable - Bloom - $ Investment income A/R - $ Property Related Trans Taxes Rec 1,090,203 $ 694,800 $ Rec Center Lease Revenue Assets 1,535,253 $ 1,600,000 $ Bond Proceeds 1,899,909 $ Tax Increment Revenue (transfer from 10 districts) 5,418,218 $ (Trans from RDA General and Tax increment haircut) A/P 119,067 $ Deferred Rev Deferred Rev - taxes 1,090,203 $ Interfund Note (Gen), net Bonded debt 2005A 5,390,000 $ 1,770,000 $ Debt Service - Principal - Includes payment from American Can Bonded debt 2005B 8,270,000 $ 1,449,610 $ Debt Service - Interest Bonded debt 2005C 20,080,000 $ 95,000 $ Issuance Costs Equity (33,414,017) $ 13,000 $ Annual Trustee fee Liabilties & Equity 1,535,253 $ - $ Annual Remarketing fee 1,526,185 $ Development of the Mall Site and Parking Structure 645,620 $ Operating Expenses Beg Equity (35,003,414) $ 5,499,415 $ Change in Equity (81,197) $ Ending Equity (35,084,611) $ (81,197) $ Rev - Exp Debt service payments 1,670,000 $ Record of Note Payable Ending Equity (33,414,017) $ (81,197) $ Change in Equity Interfund Note 1,751,603 $ Allowance for doubtful (1,751,603) $ - $ 2011 Revenue Expenditures RDA CASHFLOW - CBD MALL DISTRICTChange in Equity ---PAGE BREAK--- Page 4 of 6 Balance Sheet 1,175,350 $ Property taxes Cash 469,024 $ - $ Sale of Property Investments 125,644 $ 24,133 $ Interest Note receivable - Bloom 750,000 $ - $ Investment income A/R 1,476 $ 19,195 $ Property Related Trans Interest Rec 25,644 $ 695,814 $ Rec Center Lease Revenue Taxes Rec 1,061,267 $ - $ Bond Proceeds Assets 2,433,055 $ 2,552,990 $ Tax Increment Revenue (transfer from 10 districts) 4,467,482 $ (Trans from RDA General and Tax increment haircut) A/P 230,807 $ Deferred Rev 750,000 $ Deferred Rev - taxes 1,061,267 $ Interfund Note (Gen), net 1,930,000 $ Debt Service - Principal - Includes payment from American Can Bonded debt 2005A 4,885,000 $ 1,713,029 $ Debt Service - Interest Bonded debt 2009A 7,955,000 $ - $ Issuance Costs Bonded debt 2009B 19,145,000 $ 16,000 $ Annual Trustee fee Bonded debt 2011 1,525,000 $ 6,095 $ Annual Remarketing fee Equity (33,119,018) $ 17,248 $ Development of the Mall Site and Parking Structure Liabilties & Equity 2,433,055 $ 720,112 $ Operating Expenses 4,402,484 $ Beg Equity (33,414,017) $ Change in Equity 64,999 $ 64,999 $ Rev - Exp Ending Equity (33,349,018) $ Record of Note Payable Debt service payments 230,000 $ 64,999 $ Change in Equity Ending Equity (33,119,018) $ Interfund Note 1,751,603 $ Allowance for doubtful (1,751,603) $ - $ Balance Sheet 1,294,441 $ Property taxes Cash 264,976 $ - $ Sale of Property Investments 105,017 $ (25,582) $ Interest Note receivable - Bloom 750,000 $ - $ Investment income A/R 1,476 $ 17,714 $ Property Related Trans Interest Rec 55,644 $ 695,740 $ Rec Center Lease Revenue Taxes Rec 1,161,691 $ - $ Bond Proceeds Assets 2,338,804 $ 2,252,208 $ Tax Increment Revenue (transfer from 10 districts) 4,234,521 $ (Trans from RDA General and Tax increment haircut) A/P 4,575 $ Deferred Rev 805,644 $ Expenditures Deferred Rev - taxes 1,161,691 $ Interfund Note (Gen), net 1,985,000 $ Debt Service - Principal - Includes payment from American Can Bonded debt 2005A 4,395,000 $ 1,684,204 $ Debt Service - Interest Bonded debt 2009A 7,625,000 $ - $ Issuance Costs Bonded debt 2009B 18,155,000 $ 16,750 $ Annual Trustee fee Bonded debt 2011 1,450,000 $ - $ Annual Remarketing fee Equity (31,258,104) $ - $ Development of the Mall Site and Parking Structure Liabilties & Equity 2,338,804 $ 572,653 $ Operating Expenses 4,258,607 $ Beg Equity (33,119,018) $ Change in Equity (24,086) $ (24,086) $ Rev - Exp Ending Equity (33,143,104) $ Record of Note Payable Debt service payments 1,885,000 $ (24,086) $ Change in Equity Ending Equity (31,258,104) $ Interfund Note 1,751,601 $ Allowance for doubtful (1,751,601) $ - $ Expenditures 2012 Revenue 2012 2013 2013 Revenue RDA CASHFLOW - CBD MALL DISTRICTChange in Equity ---PAGE BREAK--- Page 5 of 6 Balance Sheet 1,379,553 $ Property taxes Cash 480,492 $ 204,315 $ Sale of Property Investments 105,073 $ 56 $ Interest Note receivable - Bloom 750,000 $ - $ Investment income A/R 1,476 $ 17,714 $ Property Related Trans Interest Rec 85,644 $ 694,800 $ Rec Center Lease Revenue Taxes Rec 1,245,999 $ 131,546 $ Theater Lease Revenue Assets 2,668,685 $ - $ Bond Proceeds 1,856,733 $ Tax Increment Revenue (transfer from 10 districts) 4,284,717 $ (Trans from RDA General and Tax increment haircut) A/P 61,385 $ Deferred Rev 835,644 $ Deferred Rev - taxes 1,245,999 $ Interfund Note (Gen), net Bonded debt 2005A 3,845,000 $ 2,120,000 $ Debt Service - Principal - Includes payment from American Can Bonded debt 2009A 7,280,000 $ 1,572,998 $ Debt Service - Interest Bonded debt 2009B 17,110,000 $ - $ Issuance Costs Bonded debt 2011 1,370,000 $ 12,750 $ Annual Trustee fee Equity (28,979,343) $ 5,494 $ Annual Remarketing fee Liabilties & Equity 2,768,685 $ 125,000 $ Development of the Mall Site and Parking Structure 289,713 $ Operating Expenses Beg Equity (31,258,104) $ 4,125,955 $ Change in Equity 158,762 $ Ending Equity (31,099,343) $ 158,762 $ Rev - Exp Debt service payments 2,120,000 $ Record of Note Payable Ending Equity (28,979,343) $ 158,762 $ Change in Equity Interfund Note 1,751,601 $ Allowance for doubtful (1,751,601) $ - $ 2014 2014 Revenue Expenditures RDA CASHFLOW - CBD MALL DISTRICTChange in Equity ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3140-2-11400-R PROPERTY TAX - TAX INCREMENT (1,356,987.69) (1,379,552.86) (1,294,441.14) (1,175,349.56) (1,206,131.94) (1,134,592.68) (1,029,401.42) (247,318.31) (117,700.42) (59,487.37) (110,595.74) (38,869.46) (12,221.77) (284,151.90) (299,803.48) (909,810.66) (904,343.69) 3140-2-46000-R LEASE REVENUE 0.00 (131,546.25) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (81,250.00) (325,000.00) (325,010.00) (326,500.24) 3140-2-46001-R REC CENTER LEASE REVENUE (694,800.00) (694,800.00) (695,740.20) (695,814.18) (694,800.00) (694,800.00) (694,800.00) (694,800.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-61000-R INTEREST INCOME (8,303.02) (55.78) 25,582.24 (24,133.48) (1,114.49) (73.60) (3,184.91) (55,936.65) (17,531.47) (245,577.88) (18,678.90) (18.74) 94.67 (26,916.55) (4,543.22) (92,840.45) (71,066.29) 3140-2-62000-R INVESTMENT INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (514,990.02) (122,761.34) 0.00 0.00 0.00 (31,724.90) (80,822.31) (79,187.12) 0.00 3140-2-71000-R SALE OF PROPERTY 0.00 (204,315.00) 0.00 0.00 0.00 0.00 (122,354.08) (270,000.00) (743,892.80) (548,641.20) (685,289.00) 0.00 (1,460,605.94) 0.00 0.00 0.00 0.00 3140-2-71010-R TREEHOUSE HAIRCUT REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (327,307.00) 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-71100-R PROPERTY RELATED TRANSACTIONS (17,713.80) (17,713.80) (17,713.80) (19,194.95) (16,262.65) (17,725.80) 3,312.44 (14,808.50) (45,666.99) (16,339.85) (386,296.50) 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-72001-R MISCELLANEOUS REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (2,058,998.60) (128,500.35) (791,973.60) 0.00 (144,100.00) 0.00 0.00 0.00 0.00 0.00 3140-2-72005-R HOUSING PROJECTS REV FR DISTRICTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,155,000.00) 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-72010-R REC CENTER HAIRCUT REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 (641,453.00) (800,635.00) (564,890.00) (697,709.12) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-82000-R LOAN PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (11,685,737.00) 0.00 (770,563.00) (875,500.00) 0.00 0.00 0.00 3140-2-82001-R BOND PROCEEDS SERIES 2005C-1 0.00 0.00 0.00 0.00 (1,600,000.00) (30,345,000.00) 0.00 0.00 0.00 (20,098,400.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-82002-R BOND SERIES 2005-A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (7,225,400.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-82003-R BOND SERIES 2005-B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (8,819,900.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-84000-R INTERFUND TRANSFERS (1,697,135.00) (1,856,733.00) (2,252,208.00) (2,552,990.00) (1,899,909.00) (3,290,062.00) (1,730,987.60) (2,318,850.00) (1,292,926.40) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (3,774,939.51) (4,284,716.69) (4,234,520.90) (4,467,482.17) (5,418,218.08) (35,482,254.08) (4,218,868.57) (6,461,347.06) (3,426,098.45) (38,626,190.36) (14,368,904.14) (182,988.20) (2,243,296.04) (1,299,543.35) (710,169.01) (1,406,848.23) (1,301,910.22) EXPENDITURES 3140-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-14600-E OPERATING EXPENSES 217,599.18 289,712.85 572,653.40 720,111.79 645,620.06 1,364,930.75 252,513.44 0.00 57,070.00 269.26 0.00 4,368.56 0.00 6,399.71 305,812.94 62,185.52 4,857.00 3140-2-07-550801-14605-E LEGAL SETTLEMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 76,164.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-22205-E INTEREST ON RETAINAGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-31000-E PROPERTY PURCHASE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,359,100.00 0.00 0.00 0.00 0.00 3140-2-07-550801-32001-E REC CENTER CONSTRUCTION 0.00 0.00 0.00 0.00 0.00 0.00 98,728.00 247,410.74 12,357,054.36 6,489,058.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33000-E PROPERTY DEVELOPMENT 0.00 125,000.00 0.00 17,247.51 25,591.11 64,892.35 440,715.61 525,525.64 3,127,960.45 509,006.67 953,043.32 621,538.57 1,965,087.64 721,887.29 0.00 0.00 0.00 3140-2-07-550801-33001-E DEVELOPMENT COSTS 0.00 0.00 0.00 0.00 1,500,000.00 342,385.00 (139,614.38) 139,614.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33002-E PROPERTY DEVELOPMENT - HOUSING FUNDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33003-E PROPERTY DEVELOPMENT - RESERVED 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33004-E PROPERTY DEVELOPMENT - HOUSING RESERVED 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33005-E ISSUANCE COSTS - SERIES 2005C 0.00 0.00 0.00 0.00 95,000.00 0.00 0.00 0.00 0.00 567,709.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33006-E ISSUANCE COSTS - SERIES 2005A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 111,962.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-33007-E ISSUANCE COSTS - SERIES 2005B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 128,069.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-07-550801-34001-E REC CENTER EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 2,175,692.86 2,120,000.00 1,985,000.00 1,930,000.00 1,770,000.00 30,960,000.00 275,000.00 1,105,000.00 225,000.00 215,000.00 0.00 0.00 3,770,612.82 1,451,387.18 766,262.53 704,000.00 667,000.00 3140-2-08-550802-22101-E BDO DEBT 0.00 0.00 0.00 0.00 0.00 0.00 900,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-08-550802-22102-E WOODBURY DEBT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-08-550802-22200-E DEBT SERVICE - INTEREST 1,313,993.44 1,591,242.21 1,700,953.62 1,735,124.27 1,462,610.32 1,600,776.98 2,012,387.07 1,369,411.49 2,614,101.63 837,947.45 518,380.00 476,657.00 447,636.48 347,734.84 338,441.75 379,541.00 421,209.28 3140-2-08-550802-22201-E FUTURE (CAPITALIZED) INT SERIES 2005C 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-08-550802-22202-E FUTURE (CAPITALIZED) INT SERIES 2005B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 71,064.25 480,423.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-08-550802-22300-E BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00 0.00 1,144,692.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-08-550802-41000-E INTERFUNDS TRANSFER 0.00 0.00 0.00 0.00 0.00 0.00 540,000.00 0.00 787,452.00 17,277,333.65 0.00 0.00 0.00 0.00 0.00 328,190.98 0.00 3140-2-08-550802-43000-E RETURN TO FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,707,285.48 4,125,955.06 4,258,607.02 4,402,483.57 5,498,821.49 35,477,677.59 4,379,729.74 3,386,962.25 19,239,702.69 26,692,945.48 1,471,423.32 1,102,564.13 12,542,436.94 2,527,409.02 1,410,517.22 1,473,917.50 1,093,066.28 Net Change in Fund Balance (gain) loss (67,654.03) (158,761.63) 24,086.12 (64,998.60) 80,603.41 (4,576.49) 160,861.17 (3,074,384.81) 15,813,604.24 (11,933,244.88) (12,897,480.82) 919,575.93 10,299,140.90 1,227,865.67 700,348.21 67,069.27 (208,843.94) Beginning Fund Balance (525,656.71) (366,895.08) (390,981.20) (325,982.60) (406,586.01) (402,009.52) (562,870.69) 2,511,514.12 (13,302,090.12) (1,368,845.24) 11,528,635.58 10,609,059.65 309,918.75 (917,946.92) (1,618,295.13) (1,685,364.40) (1,476,520.46) Ending Fund Balance (593,310.74) (525,656.71) (366,895.08) (390,981.20) (325,982.60) (406,586.01) (402,009.52) (562,870.69) 2,511,514.12 (13,302,090.12) (1,368,845.24) 11,528,635.58 10,609,059.65 309,918.75 (917,946.92) (1,618,295.13) (1,685,364.40) BALANCE SHEET 3140-2-11100-B CASH IN BANK 462,847.70 480,492.29 264,975.94 469,023.70 (38,600.34) 143,941.38 (54,401.87) 513,635.73 101,433.67 1,991,380.84 1,449,257.82 (348,706.88) 126,182.55 (174,796.24) (452,314.38) (131.42) 179,423.71 3140-2-11300-B ENVIROMENTAL IMPACT TRUST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-11500 - B RESTRICED CASH - HUD 108 LOAN 132,900.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-12201-B RDA SERIES A - TRUSTEE 77.95 77.95 77.95 77.95 77.95 77.95 77.95 77.44 74.75 2,993,624.02 0.00 0.00 4,668.30 4,573.63 628,433.20 895,084.14 888,978.71 3140-2-12202-B RDA SERIES B - TRUSTEE 0.00 0.00 0.00 0.00 0.00 0.00 134,577.35 133,712.80 129,073.80 8,870,800.24 0.00 0.00 0.00 0.00 676,554.57 643,421.87 615,577.68 3140-2-12203-B RDA SERIES C - TRUSTEE 0.00 0.00 0.00 0.00 0.00 0.00 361,106.94 358,787.09 346,339.45 2,201,018.98 0.00 0.00 0.00 0.00 65,273.53 79,187.12 0.00 3140-2-12204-B INVESTMENTS - SURPLUS FUND 7.30 97,159.27 97,118.25 117,764.71 476,283.24 476,189.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-12205-B RDA SERIES 2011 - TRUSTEE 1.34 7,836.04 7,821.28 7,801.74 7,288.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-13100-B ACCOUNTS RECEIVABLE 0.00 0.00 0.00 0.00 0.00 0.00 59,377.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-13101-B LEASE PAYMENTS RECEIVABLE 1,476.15 1,476.15 1,476.15 1,476.15 0.00 1,477.15 0.00 107,357.07 177,130.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-13105-B NOTE RECEIVABLE - BLOOM 750,000.00 750,000.00 750,000.00 750,000.00 0.00 0.00 0.00 0.00 162,505.54 174,073.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-13106-B INTEREST ON NOTE 115,644.00 85,644.00 55,644.00 25,644.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-13600-B TAXES RECEIVABLE 1,214,717.43 1,245,998.89 1,161,690.55 1,061,266.80 1,090,203.44 1,026,517.25 935,037.17 219,143.00 104,339.68 52,553.53 98,746.63 30,175.60 259,070.67 331,309.53 0.00 733.42 1,384.30 3140-2-21100-B ACCOUNTS PAYABLE (4,000.00) (61,385.15) (4,574.65) (230,807.05) (119,066.67) (214,506.20) (98,728.00) (411,085.06) (3,266,498.04) (2,756,213.61) (80,412.58) 0.00 (277,825.98) (80,038.69) 0.00 0.00 0.00 3140-2-21701-B OTHER ACCRUED LIABILITIES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (139,614.38) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-21760-B RETAINAGE PAYABLE 0.00 0.00 0.00 0.00 0.00 (593.70) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-22201-B BDO PROP MGMT - MALL TRANSFER 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (11,179,928.70) (10,462,084.52) 0.00 0.00 0.00 0.00 3140-2-24000-B DEFERRED REVENUE (865,643.84) (835,643.84) (805,643.84) (750,000.00) 0.00 0.00 0.00 0.00 (161,574.14) (172,593.51) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-24004-B DEFERRED REVENUE TAXES (1,214,717.43) (1,245,998.89) (1,161,690.55) (1,061,266.80) (1,090,203.44) (1,026,517.25) (935,037.17) (219,143.00) (104,339.68) (52,553.53) (98,746.63) (30,175.60) (259,070.67) (390,966.98) 0.00 0.00 0.00 3140-2-31000-B REVENUE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-32000-B EXPENDITURE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-33001-B RES FOR CURRENT YEAR ENCUMB 56,490.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3140-2-34000-B FUND BALANCE RESV DEBT SERVICE (649,801.29) (525,656.71) (366,895.08) (390,981.20) (325,982.60) (406,586.01) (402,009.52) (562,870.69) 2,511,514.12 (13,302,090.12) (1,368,845.24) 11,528,635.58 10,609,059.65 309,918.75 (917,946.92) (1,618,295.13) (1,685,364.40) 3140-2-39100-B APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,360,000.00) 0.00 3140-2-39200-B ESTIMATED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,360,000.00 0.00 3140-2-39300-B BUDGETARY FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated 25th Street 610,000 $ - $ 1 - $ - $ 2001/1991 TIFF 2015 2018 1 The original principal amount due from the RDA to the City was $4,211,805. Over the course of the loan the City has received principal and interest payments totalling $6,027,235. These payments have not kept up with the annual accrued interest resulting in the balance that is owed. ---PAGE BREAK--- 25th Street OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - 25th Street June 30, 2015 Inputs & Assumptions Base year: 1979 Tax Year Expiration: 2017 (Tax increment from Eccles Bldg (2015 - 2017) Original tax base: 3,538,684 $ Anticipated tax base increment: Unknown Year tax increment Available to RDA N/A Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Bonded Debt balance at June 30, 2015: 610,000 $ City Debt Balance at June 30,2015: 340,000 $ Base (1979) Unavailable Unavailable Unavailable 1991-1998 Unavailable Unavailable Unavailable 1,400,000 1,366,300 - - (1,366,300) - - unknown 1999 Unavailable 25,508,131 21,969,447 300,000 300,231 8,099 - (300,000) (15,767) (7,438) 7,114 $ 2000 Unavailable 32,511,351 28,972,667 300,231 387,046 16,311 - (400,000) (6,202) (2,845) 3,437 $ 2001 Unavailable 32,570,369 29,031,685 387,046 391,473 2,450 - (390,000) (7,058) (3,135) 1,650 $ 2002 Unavailable 31,497,627 31,209,220 391,473 510,458 1,618,716 - (511,000) (1,506,498) 111,676 820 $ 2003 Unavailable 39,798,041 28,544,271 510,458 462,617 9,563 - (465,000) (86,244) (79,064) (2,052) $ 2004 Unavailable 36,487,991 38,208,848 462,617 615,812 14,132 (60,738) (560,000) (27,265) (18,059) 3,264 $ 2005 Unavailable 35,089,661 37,229,098 615,812 610,036 15,862 (75,707) (515,000) (34,628) 563 3,544 $ 2006 Unavailable 35,838,591 31,788,478 610,036 541,326 10,994 (74,427) (396,628) (81,265) 0 6,335 $ 2007 Unavailable 36,631,960 33,740,751 541,326 601,024 12,532 (167,194) (342,307) (5,332) 98,723 104,496 $ 2008 Unavailable 40,895,395 37,971,117 601,024 631,042 11,574 (160,727) (465,000) (121,641) (104,752) 4,217 $ 2009 Unavailable 43,185,830 39,019,005 631,042 611,818 4,148 (147,283) (316,000) (155,625) (2,942) (3,985) $ 2010 Unavailable 41,451,940 37,536,091 611,818 607,897 632 (103,398) (1,340,820) 841,394 5,705 1,637 $ 2011 Unavailable 39,921,457 36,340,368 607,897 621,602 2,027 (106,382) (340,000) (177,280) (33) 1,541 $ 2012 Unavailable 41,464,244 38,043,853 621,602 658,463 1,103 (109,780) (340,000) (213,113) (3,327) 11,506 $ 2013 Unavailable 42,629,132 39,632,292 750,000 723,448 2,695 (120,089) (340,000) (160,680) 105,374 103,425 $ 2014 Unavailable 40,242,574 36,703,890 750,000 640,069 2,173 (130,473) (340,000) (166,000) 5,769 105,217 $ 2015 Unavailable 40,772,346 37,233,662 725,000 674,224 2,129 (143,017) (328,500) (203,321) 1,515 106,808 $ Projected 2016 3 Unavailable 40,772,346 37,233,662 2 - - - (159,250) - - - 106,808 $ " 2017 Unavailable 40,772,346 37,233,662 2 - - - (169,900) - - - 106,808 $ " 2018 Unavailable 40,772,346 37,233,662 Expired - - (175,100) - - - Total Projected 10,817,382 $ (1,903,464) (9,056,555) Total paid Less amount received through 2015 (10,954,886) $ 1,610,000 4,211,805 Original Principal Projected vs. Actual (137,504) $ (293,464) (4,844,750) Interest ASSUMPTIONS: 1 If you take the balance due to the City as of June 30, 2009 and divide it by the 6 years remaining before the expiration of the District there will need to be an annual payment of $477,724. Amounts available will not be sufficient to cover the total outstanding which justifies the allowance that has been reported in the CAFR 2 The District is allowed to collect tax increment through 2017 (two additional years) on the Hampton Inn Building exclusively to cover the bonded debt. 3 The 2016 projections are based on the 2016 budget and respective debt schedules. Other Cash Inflows Bond Principal & Interest City Debt Repayment Other Cash Outflows Net Change in Equity Cash Balance Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Actual Tax Increment Fiscal Year ---PAGE BREAK--- Page 3 of 5 RDA - 25th Street - 3210 Change in Equity July 1 - June 30 621,602 $ Property Taxes Cash 1,541 $ 2,027 $ Interest Income Investments 11,952 $ - $ Misc Revenue A/R 561,245 $ - $ Interest Income Assets 574,739 $ 623,629 $ Interfund Note Payable (Gen) 1,360,000 $ Bonded debt payable 955,000 $ 100,000 $ Debt service - Prin Deferred Rev 561,245 $ 6,382 $ Debt service - Int Equity (2,301,506) $ 3,000 $ Annual Trustee fee Liabilties & Equity 574,739 $ 1,432 $ Annual Remarketing fee 340,000 $ Principal Payment on City Loan 15,848 $ Operating expenses Beg Equity (2,741,473) $ 157,000 $ Interfund Transfer End Equity (2,301,506) $ 623,662 $ Change in Equity 439,967 $ (33) $ Rev - Exp Interfund Note $1,000,820 Allowance for doubtful ($1,000,820) 440,000 $ - $ 439,967 $ Change in Equity 658,463 $ Property Taxes Cash 11,506 $ 1,103 $ Interest Income Investments 12,034 $ - $ Misc Revenue A/R 596,327 $ - $ Interest Income Assets 619,868 $ 659,566 $ Accounts Payable 13,373 $ Interfund Note Payable (Gen) 1,020,000 $ 105,000 $ Debt service - Prin Bonded debt payable 850,000 $ 4,780 $ Debt service - Int Deferred Rev 596,327 $ 3,000 $ Annual Trustee fee Equity (1,859,832) $ 1,838 $ Annual Remarketing fee Liabilties & Equity 619,868 $ 340,000 $ Principal Payment on City Loan 58,275 $ Operating expenses 150,000 $ Interfund Transfer Beg Equity (2,301,506) $ 662,893 $ End Equity (1,859,833) $ Change in Equity 441,673 $ (3,327) $ Rev - Exp Interfund Note $1,000,820 445,000 $ Allowance for doubtful ($1,000,820) 441,673 $ Change in Equity - $ Expenditure 2012 Revenue 2011 2011 Expenditure Balance Sheet Revenue Record Effect on equity of Payment of Principal on Note Record Effect on equity of Payment of Principal on Note Balance Sheet 2012 RDA CASHFLOW - 25TH STREET ---PAGE BREAK--- Page 4 of 5 723,448 $ Property Taxes Cash 103,425 $ 2,695 $ Interest Income Investments 12,116 $ - $ Misc Revenue A/R 647,678 $ - $ Interest Income Assets 763,219 $ 726,143 $ Accounts Payable - $ Interfund Note Payable (Gen) 680,000 $ 115,000 $ Debt service - Prin Bonded debt payable 735,000 $ 5,089 $ Debt service - Int Deferred Rev 647,677 $ 3,000 $ Annual Trustee fee Equity (1,299,458) $ 1,103 $ Annual Remarketing fee Liabilties & Equity 763,219 $ 340,000 $ Principal Payment on City Loan 6,578 $ Operating expenses 150,000 $ Interfund Transfer Beg Equity (1,859,833) $ 620,769 $ End Equity (1,299,459) $ Change in Equity 560,374 $ 105,374 $ Rev - Exp Interfund Note $1,671,606 455,000 $ Allowance for doubtful ($1,671,606) 560,374 $ Change in Equity - $ 640,069 $ Property Taxes Cash 105,217 $ 2,173 $ Interest Income Investments 12,177 $ - $ Misc Revenue A/R 576,857 $ - $ Interest Income Assets 694,252 $ 642,242 $ Accounts Payable - $ Interfund Note Payable (Gen) 340,000 $ 125,000 $ Debt service - Prin Bonded debt payable 610,000 $ 5,473 $ Debt service - Int Deferred Rev 576,857 $ 3,000 $ Annual Trustee fee Equity (832,604) $ 915 $ Annual Remarketing fee Liabilties & Equity 694,252 $ 340,000 $ Principal Payment on City Loan 16,000 $ Operating expenses 150,000 $ Interfund Transfer (Housing) Beg Equity (1,299,459) $ 640,388 $ End Equity (832,605) $ Change in Equity 466,854 $ 1,854 $ Rev - Exp Interfund Note $1,671,606 465,000 $ Allowance for doubtful ($1,671,606) 466,854 $ Change in Equity - $ Revenue 2014 2015 Revenue 2013 Revenue Expenditure Record Effect on equity of Payment of Principal on Note Expenditure Balance Sheet 2015 Balance Sheet 2014 Balance Sheet 2013 Record Effect on equity of Payment of Principal on Note RDA CASHFLOW - 25TH STREET ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3210-2-11400-R PROPERTY TAX - TAX INCREMENT (674,223.86) (640,069.25) (723,447.85) (658,463.16) (621,602.14) (607,897.35) (611,818.34) (631,041.91) (601,023.92) (541,326.02) (610,036.20) (615,811.68) (462,616.71) (510,458.12) (391,472.96) (387,045.53) (300,230.51) 3210-2-61000-R INTEREST INCOME (2,129.00) (2,172.73) (2,695.09) (1,102.62) (2,027.39) (631.61) (4,148.06) (11,574.54) (12,532.25) (10,993.81) (15,862.22) (14,131.72) (9,562.55) (8,715.86) (2,449.70) (16,310.51) (8,048.92) 3210-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (50.00) 3210-2-82000-R BOND PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,610,000.00) 0.00 0.00 0.00 (676,352.86) (642,241.98) (726,142.94) (659,565.78) (623,629.53) (608,528.96) (615,966.40) (642,616.45) (613,556.17) (552,319.83) (625,898.42) (629,943.40) (472,179.26) (2,129,173.98) (393,922.66) (403,356.04) (308,329.43) EXPENDITURES 3210-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3210-2-07-550801-14601-E OPERATING EXPENSES 53,294.90 16,000.00 6,577.61 58,274.98 15,848.35 9,426.01 5,625.06 121,641.15 5,331.76 0.00 0.00 376.14 5,012.50 1,479,985.21 2,132.96 3,201.64 12,767.22 3210-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 135,000.00 125,000.00 115,000.00 105,000.00 100,000.00 90,000.00 85,000.00 80,000.00 70,000.00 65,000.00 60,000.00 55,000.00 0.00 0.00 0.00 0.00 0.00 3210-2-08-550802-22200-E DEBT SERVICE - INTEREST 8,016.63 9,388.18 9,191.46 9,617.79 10,813.62 13,397.99 62,283.11 80,727.94 97,193.75 90,691.23 50,334.56 29,626.90 78,231.53 26,512.96 4,924.92 0.00 0.00 3210-2-09-550802-41000-E INTERFUND TRANSFERS 478,500.00 490,000.00 490,000.00 490,000.00 497,000.00 490,000.00 466,000.00 465,000.00 342,307.00 396,628.60 515,000.00 563,000.00 468,000.00 511,000.00 390,000.00 403,000.00 303,000.00 674,811.53 640,388.18 620,769.07 662,892.77 623,661.97 602,824.00 618,908.17 747,369.09 514,832.51 552,319.83 625,334.56 648,003.04 551,244.03 2,017,498.17 397,057.88 406,201.64 315,767.22 Net Change in Fund Balance (gain) loss (1,541.33) (1,853.80) (105,373.87) 3,326.99 32.44 (5,704.96) 2,941.77 104,752.64 (98,723.66) 0.00 (563.86) 18,059.64 79,064.77 (111,675.81) 3,135.22 2,845.60 7,437.79 Beginning Fund Balance (117,368.13) (115,514.33) (10,140.46) (13,467.45) (13,499.89) (7,794.93) (10,736.70) (115,489.34) (16,765.68) (16,765.68) (16,201.82) (34,261.46) (113,326.23) (1,650.42) (4,785.64) (7,631.24) (15,069.03) Ending Fund Balance (118,909.46) (117,368.13) (115,514.33) (10,140.46) (13,467.45) (13,499.89) (7,794.93) (10,736.70) (115,489.34) (16,765.68) (16,765.68) (16,201.82) (34,261.46) (113,326.23) (1,650.42) (4,785.64) (7,631.24) BALANCE SHEET 3210-2-11100-B CASH IN BANK 106,808.21 105,217.08 103,424.55 11,505.58 1,541.48 1,637.46 (3,985.02) 4,217.11 104,496.40 6,334.98 3,543.64 3,264.15 (2,052.38) 820.32 1,650.42 3,437.29 7,114.15 3210-2-12200-B INVESTMENTS 12,212.47 12,151.05 12,089.78 12,007.92 11,925.97 11,862.43 11,779.95 11,519.59 10,992.94 10,430.70 13,222.04 12,937.67 36,313.84 112,505.91 0.00 0.00 0.00 3210-2-13600-B TAXES RECEIVABLE 609,513.19 576,856.89 647,677.79 596,327.28 561,244.76 550,898.56 550,214.92 557,174.34 532,822.81 492,347.44 450,006.22 407,382.42 448,449.40 573,494.33 0.00 1,348.35 517.09 3210-2-21100-B ACCOUNTS PAYABLE (111.22) 0.00 0.00 (13,373.04) 0.00 0.00 0.00 (5,000.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3210-2-24004-B DEFERRED REVENUE TAXES (609,513.19) (576,856.89) (647,677.79) (596,327.28) (561,244.76) (550,898.56) (550,214.92) (557,174.34) (532,822.81) (492,347.44) (450,006.22) (407,382.42) (448,449.40) (573,494.33) 0.00 0.00 0.00 3210-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3210-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3210-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 8,877.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3210-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3210-2-34000-B FUND BALANCE RESV DEBT SERVICE (127,786.70) (117,368.13) (115,514.33) (10,140.46) (13,467.45) (13,499.89) (7,794.93) (10,736.70) (115,489.34) (16,765.68) (16,765.68) (16,201.82) (34,261.46) (113,326.23) (1,650.42) (4,785.64) (7,631.24) 3210-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (423,000.00) 0.00 3210-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 423,000.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated St. Benedicts Project - $ - $ - $ - $ TIFF 2008/2015 N/A - $ A - $ A 100% of available tax increment has been pledged to the Recreation Center. ---PAGE BREAK--- St. Benedicts OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - St. Benedicts June 30, 2015 Inputs & Assumptions Range (if applicable) Base year: 1981 Tax Year Expiration: 2015 (receration center purposes till 2015) Original tax base: 426,616 $ Anticipated tax base increment: - $ Year tax increment Available to RDA N/A Tax rate: N/A Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ 1999 Unavailable 2,783,388 $ 2,356,772 $ - $ - $ 47,060 $ 2,696 $ (76,600) $ (26,844) $ 24 $ 2000 Unavailable 12,233,083 11,806,467 $ 47,060 $ - $ 252,210 $ 10,540 $ (234,000) 28,751 $ 28,656 2001 Unavailable 12,406,821 11,980,205 $ 252,210 $ - $ 229,047 $ 2,389 $ (237,500) (6,065) $ 22,776 2002 Unavailable 12,874,142 12,447,526 $ 229,047 $ - $ 216,909 $ 4,507 $ (221,416) $ 22,776 2003 Unavailable 12,874,142 12,447,526 $ 216,909 $ - $ 129,419 $ 2,610 $ (129,400) 2,629 $ 25,406 2004 Unavailable 12,874,142 12,447,526 $ 129,419 $ - $ 132,151 $ 3,921 $ (156,450) (20,378) $ 5,027 2005 Unavailable 13,475,936 13,049,320 $ 132,151 $ 100,000 $ 195,625 $ 117,215 $ 8,245 $ (320,275) 809 $ 5,837 2006 Unavailable 13,344,357 12,917,741 $ 195,625 $ 74,400 $ 109,204 $ 73,408 $ 4,578 $ (187,108) 82 $ 5,918 2007 Unavailable 14,253,478 13,826,862 $ 109,204 $ 80,000 $ 129,340 $ 86,227 $ 11,069 $ (231,426) (4,791) $ 1,127 2008 Unavailable 15,128,667 14,702,051 $ 129,340 $ 87,375 $ 124,060 $ 82,706 $ 3,031 $ (209,706) 91 $ 1,218 2009 Unavailable 16,780,251 16,353,635 $ 124,060 $ 120,000 $ 130,543 $ 87,029 $ 1,866 $ (219,628) * (190) $ 1,028 2010 Unavailable 15,018,575 14,591,959 $ 130,543 $ - $ 4,211 $ 194,511 $ 210 $ (199,932) (1,000) $ 28 2011 Unavailable 14,671,951 14,245,335 $ 4,211 $ - $ - $ 171,888 $ 661 $ (172,549) - $ 28 2012 Unavailable 14,803,377 14,376,761 $ - $ 225,000 $ - $ 215,640 $ 374 $ (216,014) $ 28 2013 Unavailable 14,488,386 14,061,770 $ - $ 225,000 $ - $ 220,644 $ 883 $ (221,524) 2 $ 30 2014 Unavailable 15,185,922 14,759,306 $ - $ 250,000 $ - $ 220,921 $ 648 $ (221,568) - $ 30 2015 Unavailable 14,971,102 14,544,486 $ - $ 225,000 $ - $ 200,370 $ 471 $ (200,500) 341 $ 371 2016 1 Unavailable 14,971,102 14,544,486 $ - $ 221,000 $ 371 1,699,779 $ 1,607,775 $ Total Projected (1,699,779) $ (1,670,558) $ Less amount received through 2015 - $ 62,783 $ Projected vs. Actual ASSUMPTIONS: * RDA expires at the end of FY2008. Tax increment continues until tax year 2015, with all increment received going to Rec Center. 1 The 2016 projection is based on the 2016 adopted budget. Projected Haircut Increment Tax Increment Haircut Increment Other Cash Inflows Other Cash Outflows Cash Balance Net Change Fiscal Year Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment ---PAGE BREAK--- Page 3 of 5 ST. BENEDICTS - 3220 Change in Equity July 1 - June 30 - $ Property Taxes Cash 28 $ 171,888 $ Property Taxes - haircut A/R 155,151 $ 661 $ Interest Assets 155,179 $ 172,549 $ Deferred Rev 155,151 $ Equity 28 $ 172,549 $ Haircut to Rec Center Liabilties & Equity 155,179 $ - $ Interfund Transfer - Admin 172,549 $ - $ Rev - Exp Beg Equity 28 $ - $ Record of Note Payable End Equity 28 $ - $ Change in Equity Change in Equity - $ - $ Property Taxes Cash 28 $ 215,640 $ Property Taxes - haircut A/R 195,614 $ 374 $ Interest Assets 195,642 $ 216,014 $ Deferred Rev 195,614 $ Equity 28 $ 216,014 $ Haircut to Rec Center Liabilties & Equity 195,642 $ - $ Interfund Transfer - Admin 216,014 $ $ Rev - Exp Beg Equity 28 $ Record of Note Payable End Equity 28 $ $ Change in Equity Change in Equity $ - $ Property Taxes Cash 30 $ 220,644 $ Property Taxes - haircut A/R 198,054 $ 883 $ Interest Assets 198,083 $ 221,526 $ Deferred Rev 198,054 $ Equity 30 $ 221,524 $ Haircut to Rec Center Liabilties & Equity 198,083 $ - $ Interfund Transfer - Admin 221,524 $ 2 $ Rev - Exp Beg Equity 28 $ Record of Note Payable End Equity 30 $ 2 $ Change in Equity Change in Equity 2 $ 2013 Revenue 2013 Balance Sheet Expenditure 2012 Revenue 2012 Balance Sheet Expenditure 2011 Revenue Expenditure 2011 Balance Sheet RDA CASHFLOW - ST. BENEDICTS ---PAGE BREAK--- Page 4 of 5 - $ Property Taxes Cash 30 $ 220,921 $ Property Taxes - haircut A/R 198,705 $ 648 $ Interest Assets 198,735 $ 221,568 $ Deferred Rev 198,705 $ Equity 30 $ 221,568 $ Haircut to Rec Center Liabilties & Equity 198,735 $ - $ Interfund Transfer - Admin 221,568 $ 0 $ Rev - Exp Beg Equity 30 $ Record of Note Payable End Equity 30 $ 0 $ Change in Equity Change in Equity 0 $ - $ Property Taxes Cash 371 $ 200,370 $ Property Taxes - haircut A/R 198,688 $ 471 $ Interest Assets 199,059 $ 200,841 $ Deferred Rev 198,688 $ Equity 371 $ 200,500 $ Haircut to Rec Center Liabilties & Equity 199,059 $ - $ Interfund Transfer - Admin 200,500 $ 341 $ Rev - Exp Beg Equity 30 $ Record of Note Payable End Equity 371 $ 341 $ Change in Equity Change in Equity 341 $ 2014 2014 Revenue Expenditure Balance Sheet 2015 2015 Revenue Balance Sheet Expenditure RDA CASHFLOW - ST. BENEDICTS ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3220-2-11400-R PROPERTY TAX - TAX INCREMENT 0.00 0.00 0.00 0.00 0.00 (4,211.46) (130,542.71) (124,059.77) (129,339.80) (109,203.68) (195,624.69) (132,151.26) (129,418.84) (216,909.33) (229,046.73) (252,210.38) (47,060.42) 3220-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (200,370.18) (220,920.76) (220,643.53) (215,639.77) (171,888.50) (194,510.88) (87,028.49) (82,706.51) (86,226.52) (73,407.75) (117,215.44) 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-61000-R INTERST INCOME (471.22) (647.67) (882.65) (373.76) (660.80) (209.58) (1,866.24) (3,030.80) (5,928.82) (4,577.75) (8,244.47) (3,921.17) (2,610.08) (4,506.56) (2,388.72) (10,540.48) (2,695.72) 3220-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (5,140.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (200,841.40) (221,568.43) (221,526.18) (216,013.53) (172,549.30) (198,931.92) (219,437.44) (209,797.08) (226,635.14) (187,189.18) (321,084.60) (136,072.43) (132,028.92) (221,415.89) (231,435.45) (262,750.86) (49,756.14) EXPENDITURES 3220-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 55,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 221,568.00 220,644.00 216,014.00 172,549.00 198,722.00 87,028.00 84,706.00 86,226.00 73,407.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 880.00 0.00 0.00 1,210.00 96,800.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 62,599.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,676.43 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-09-550802-41000-E INTERFUND TRANSFERS 200,500.00 0.00 0.00 0.00 0.00 0.00 35,800.00 125,000.00 145,200.00 113,700.00 195,000.00 156,450.00 129,400.00 221,416.00 237,500.00 234,000.00 76,600.00 200,500.00 221,568.00 221,524.00 216,014.00 172,549.00 199,932.00 219,628.00 209,706.00 231,426.00 187,107.75 320,275.43 156,450.00 129,400.00 221,416.00 237,500.00 234,000.00 76,600.00 Net Change in Fund Balance (gain) loss (341.40) (0.43) (2.18) 0.47 (0.30) 1,000.08 190.56 (91.08) 4,790.86 (81.43) (809.17) 20,377.57 (2,628.92) 0.11 6,064.55 (28,750.86) 26,843.86 Beginning Fund Balance (30.03) (29.60) (27.42) (27.89) (27.59) (1,027.67) (1,218.23) (1,127.15) (5,918.01) (5,836.58) (5,027.41) (25,404.98) (22,776.06) (22,776.17) (28,840.72) (89.86) (26,933.72) Ending Fund Balance (371.43) (30.03) (29.60) (27.42) (27.89) (27.59) (1,027.67) (1,218.23) (1,127.15) (5,918.01) (5,836.58) (5,027.41) (25,404.98) (22,776.06) (22,776.17) (28,840.72) (89.86) BALANCE SHEET 3220-2-11100-B CASH IN BANK 371.43 30.03 29.60 27.42 27.89 27.59 1,027.67 1,218.23 1,127.15 5,918.01 5,836.58 5,027.41 25,404.98 22,776.06 22,776.17 28,655.81 23.62 3220-2-12200-B INVESTMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-13600-B TAXES RECEIVABLE 198,688.02 198,704.65 198,053.53 195,614.44 155,150.52 179,750.86 195,948.74 184,262.00 191,952.86 163,176.98 282,078.31 117,533.69 172,950.25 221,175.43 0.00 184.91 66.24 3220-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-24004-B DEFERRED REVENUE TAXES (198,688.02) (198,704.65) (198,053.53) (195,614.44) (155,150.52) (179,750.86) (195,948.74) (184,262.00) (191,952.86) (163,176.98) (282,078.31) (117,533.69) (172,950.25) (221,175.43) 0.00 0.00 0.00 3220-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3220-2-34000-B FUND BALANCE RESV DEBT SERVICE (371.43) (30.03) (29.60) (27.42) (27.89) (27.59) (1,027.67) (1,218.23) (1,127.15) (5,918.01) (5,836.58) (5,027.41) (25,404.98) (22,776.06) (22,776.17) (28,840.72) (89.86) 3220-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (253,000.00) 0.00 3220-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 253,000.00 0.00 3220-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Union Gardens Project - $ - $ - $ - $ 1981 TIFF 2008/2015 2005 116,042 $ 77,000 $ ---PAGE BREAK--- Union Gardens OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Union Gardens June 30, 2015 Inputs & Assumptions Base year: 1981 Tax Year Expiration: 2015 (recreation center purposes until 2015) Original tax base: 538,585 $ Anticipated tax base increment: 600,000 $ Year tax increment Available to RDA 1983 Tax rate: 0.17465% 1998 Unavailable 1,147,851 $ 609,266 $ 10,800 $ - $ 10,777 $ - $ - $ - $ 10,777 $ 214 $ 1999 Unavailable 1,215,655 677,070 $ 10,777 - 11,198 - 287 (11,500) (15) 199 2000 Unavailable 1,213,748 675,163 $ 10,451 - 10,416 - 444 (11,000) (140) 65 2001 Unavailable 1,243,607 705,022 $ 10,416 - 18,672 - 64 (17,322) 1,414 1,489 2002 Unavailable 1,224,668 686,083 $ 18,672 - 11,828 - 250 (12,078) - 1,490 2003 Unavailable 1,275,224 736,639 $ 11,828 - 7,101 - 147 (7,100) 148 1,638 2004 Unavailable 1,248,894 710,309 $ 7,101 - 7,279 - 222 (7,300) 201 1,840 2005 Unavailable 1,312,829 774,244 $ 6,239 9,000 12,183 7,273 589 (19,273) 772 2,611 2006 Unavailable 1,305,189 766,604 $ 12,183 2,975 4,397 2,931 283 (7,531) 80 2,691 2007 Unavailable 1,303,099 764,514 $ 4,397 7,600 7,295 4,863 431 (13,838) (1,249) 1,441 2008 Unavailable 1,306,243 767,658 $ 7,295 4,400 6,503 4,335 222 (11,436) (376) 1,065 2009 Unavailable 1,473,653 935,068 $ 6,503 6,000 7,537 5,025 132 (12,674) 20 1,085 2010 Unavailable 1,571,287 1,032,702 $ 12,562 - 292 13,910 23 (15,225) (1,000) 85 2011 Unavailable 2,086,285 1,547,700 $ 292 - - 9,624 38 (9,662) - 85 2012 Unavailable 2,054,587 1,516,002 $ - 15,000 - 15,467 27 (15,494) 85 2013 Unavailable 2,047,515 1,508,930 $ - 15,000 - 23,768 79 (23,768) 79 164 2014 Unavailable 2,111,053 1,572,468 $ - 20,000 - 23,758 70 (23,828) 163 2015 Unavailable 2,287,714 1,749,129 $ - 20,000 - 23,762 56 (23,750) 68 231 2016 1 Unavailable 2,287,714 1,749,129 $ - 24,000 - - - - - 231 129,516 $ 123,975 $ Total Projected (115,478) $ (134,716) $ Less amount received through 2015 14,038 $ (10,741) $ Projected vs. Actual 1 The 2016 projection is based on the 2016 adopted budget. Projected Haircut Increment Tax Increment Haircut Increment Other Cash Inflows Other Cash Outflows Net Change Cash Balance Fiscal Year Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment ---PAGE BREAK--- Page 3 of 5 UNION GARDENS - 3230 Change in Equity July 1 - June 30 - $ Property Taxes Cash 85 $ 9,624 $ Property Taxes - Haircut A/R 8,674 $ 38 $ Interest Assets 8,759 $ - $ Bond Proceeds 9,662 $ Deferred Rev 8,674 $ Change in Equity 85 $ Liabilities & Equity 8,759 $ 9,662 $ Haircut to Rec Center - $ Interfund Transfer - Admin 9,662 $ - $ Rev - Exp Beg Equity 85 $ - $ Record of Note Payable End Equity 85 $ - $ Change in Equity Change in Equity - $ - $ Property Taxes Cash 85 $ 15,467 $ Property Taxes - Haircut A/R 14,052 $ 27 $ Interest Assets 14,136 $ - $ Bond Proceeds 15,494 $ Deferred Rev 14,052 $ Change in Equity 84 $ Liabilities & Equity 14,136 $ 15,494 $ Haircut to Rec Center - $ Interfund Transfer - Admin 15,494 $ $ Rev - Exp Beg Equity 85 $ Record of Note Payable End Equity 84 $ $ Change in Equity Change in Equity $ - $ Property Taxes Cash 164 $ 23,768 $ Property Taxes - Haircut A/R 21,406 $ 79 $ Interest Assets 21,570 $ - $ Bond Proceeds 23,847 $ Deferred Rev 21,406 $ Change in Equity 163 $ Liabilities & Equity 21,570 $ 23,768 $ Haircut to Rec Center - $ Interfund Transfer - Admin 23,768 $ 79 $ Rev - Exp Beg Equity 84 $ Record of Note Payable End Equity 163 $ 79 $ Change in Equity Change in Equity 79 $ 2011 2011 Balance Sheet 2012 Revenue 2012 Balance Sheet Expenditure Revenue Expenditure 2013 Balance Sheet 2013 Revenue Expenditure RDA CASHFLOW - UNION GARDENS ---PAGE BREAK--- Page 4 of 5 - $ Property Taxes Cash 163 $ 23,758 $ Property Taxes - Haircut A/R 21,455 $ 70 $ Interest Assets 21,618 $ - $ Bond Proceeds 23,828 $ Deferred Rev 21,455 $ Change in Equity 163 $ Liabilities & Equity 21,618 $ 23,828 $ Haircut to Rec Center - $ Interfund Transfer - Admin 23,828 $ $ Rev - Exp Beg Equity 163 $ Record of Note Payable End Equity 163 $ $ Change in Equity Change in Equity $ 2014 Balance Sheet Revenue Expenditure 2014 RDA CASHFLOW - UNION GARDENS ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3230-2-11400-R PROPERTY TAX - TAX INCREMENT 0.00 0.00 0.00 0.00 0.00 (291.98) (7,536.37) (6,503.58) (7,294.89) (4,396.70) (12,182.62) (7,279.37) (7,101.08) (11,828.02) (18,671.63) (10,416.14) (11,197.93) 3230-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (23,762.15) (23,757.81) (23,768.20) (15,466.65) (9,623.81) (13,910.27) (5,024.24) (4,335.69) (4,863.30) (2,931.15) (7,273.13) 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-61000-R INTEREST INCOME (55.60) (69.72) (78.90) (27.26) (37.84) (22.97) (131.51) (221.94) (430.52) (282.72) (588.94) (221.94) (147.33) (250.39) (64.45) (444.05) (286.64) 3230-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (23,817.75) (23,827.53) (23,847.10) (15,493.91) (9,661.65) (14,225.22) (12,692.12) (11,061.21) (12,588.71) (7,610.57) (20,044.69) (7,501.31) (7,248.41) (12,078.41) (18,736.08) (10,860.19) (11,484.57) EXPENDITURES 3230-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 23,828.00 23,768.00 15,494.00 9,662.00 14,202.00 5,024.00 4,436.00 4,863.00 2,931.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 0.00 0.00 0.00 1,023.00 7,650.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,273.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-09-550802-41000-E INTERFUND TRANSFERS 23,750.00 0.00 0.00 0.00 0.00 0.00 0.00 7,000.00 8,975.00 4,600.00 12,000.00 7,300.00 7,100.00 12,078.00 17,321.87 11,000.00 11,500.00 23,750.00 23,828.00 23,768.00 15,494.00 9,662.00 15,225.00 12,674.00 11,436.00 13,838.00 7,531.15 19,273.00 7,300.00 7,100.00 12,078.00 17,321.87 11,000.00 11,500.00 Net Change in Fund Balance (gain) loss (67.75) 0.47 (79.10) 0.09 0.35 999.78 (18.12) 374.79 1,249.29 (79.42) (771.69) (201.31) (148.41) (0.41) (1,414.21) 139.81 15.43 Beginning Fund Balance (163.06) (163.53) (84.43) (84.52) (84.87) (1,084.65) (1,066.53) (1,441.32) (2,690.61) (2,611.19) (1,839.50) (1,638.19) (1,489.78) (1,489.37) (75.16) (214.97) (230.40) Ending Fund Balance (230.81) (163.06) (163.53) (84.43) (84.52) (84.87) (1,084.65) (1,066.53) (1,441.32) (2,690.61) (2,611.19) (1,839.50) (1,638.19) (1,489.78) (1,489.37) (75.16) (214.97) BALANCE SHEET 3230-2-11100-B CASH IN BANK 230.81 163.06 163.53 84.43 84.52 84.87 1,084.65 1,066.53 1,441.32 2,690.61 2,611.19 1,839.50 1,638.19 1,489.78 1,489.37 65.05 199.03 3230-2-12200-B INVESTMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-13600-B TAXES RECEIVABLE 23,565.55 21,455.23 21,406.47 14,051.72 8,673.80 12,866.90 11,325.56 9,652.36 10,887.72 6,452.11 17,604.90 6,526.72 9,379.60 11,994.99 0.00 10.11 15.94 3230-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-24004-B DEFERRED REVENUE TAXES (23,565.55) (21,455.23) (21,406.47) (14,051.72) (8,673.80) (12,866.90) (11,325.56) (9,652.36) (10,887.72) (6,452.11) (17,604.90) (6,526.72) (9,379.60) (11,994.99) 0.00 0.00 0.00 3230-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3230-2-34000-B FUND BALANCE RESV DEBT SERVICE (230.81) (163.06) (163.53) (84.43) (84.52) (84.87) (1,084.65) (1,066.53) (1,441.32) (2,690.61) (2,611.19) (1,839.50) (1,638.19) (1,489.78) (1,489.37) (75.16) (214.97) 3230-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (12,500.00) 0.00 3230-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12,500.00 0.00 3230-2-39300-B BUDGETARY FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) 0.00 (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Washington Blvd (Entire Project) 320,000 $ 3,479,453 $ All - $ 2001/1991 TIFF 2008/2015 2007 unavailable unavailable Note: With the expiration of the district in 2008, all tax increment has been committed to debt service. From 2008 to 2015, the law provides that additional tax increment can be collected to fund the recreation center. ---PAGE BREAK--- Washington Boulevard OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Washington Blvd June 30, 2015 Inputs & Assumptions Base year: 1983 Tax Year Expiration: 2015 (Use for recreation center until 2015) Original tax base: 26,228,369 $ Anticipated tax base increment: N/A Year tax increment Available to RDA N/A Tax rate: N/A Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Prior Years Unavailable Unavailable Unavailable Unavailable 1,124,765 - - - - - 1999 Unavailable Unavailable Unavailable Unavailable 415,690 84,775 (195,000) (353,502) (48,036) 1,450 2000 Unavailable Unavailable Unavailable Unavailable 428,564 21,738 (190,000) (356,079) (95,777) 1,042 2001 Unavailable Unavailable Unavailable Unavailable 417,847 20,148 (210,000) (352,711) (124,716) 596 2002 Unavailable 80,023,038 53,794,669 417,847 515,000 1,427,995 (1,645,000) (378,131) (80,135) 1,279 2003 Unavailable 77,646,220 51,417,851 515,000 571,588 83,778 (225,000) (297,867) 132,500 (3,737) 2004 Unavailable 77,997,791 51,769,422 581,588 490,512 189,034 (230,000) (305,327) 144,219 3,461 2005 Unavailable 68,277,684 42,049,315 420,439 180,000 359,821 219,336 9,822 (215,000) (492,680) (118,703) 3,377 2006 Unavailable 64,021,958 37,793,589 359,821 130,500 185,652 126,551 8,090 (225,000) (156,251) (60,958) (67,295) 2007 Unavailable 59,840,415 33,612,046 185,652 232,000 263,918 175,945 9,958 (320,000) (192,181) (62,359) 13,852 2008 Unavailable 59,763,281 33,534,912 263,918 195,000 269,668 179,778 7,622 - (252,932) 204,136 3,988 2009 Unavailable 61,819,325 35,590,956 269,668 240,000 241,281 210,482 3,522 - (183,209) 272,076 27,564 2010 Unavailable 62,545,192 36,316,823 402,135 - (86) 477,323 705 - (505,443) (27,501) 63 2011 Unavailable 60,924,132 34,695,763 (86) - - 365,470 1,401 - (366,870) 1 64 2012 Unavailable 59,463,452 33,235,083 - 500,000 - 475,817 797 - (476,614) 63 2013 Unavailable 51,773,568 25,545,199 - 500,000 - 376,053 1,606 - (376,053) 1,605 1,669 2014 Unavailable 51,064,589 24,836,220 - 550,000 - 345,931 1,020 - (346,951) 1,668 2015 Unavailable 52,224,211 25,995,842 - 385,000 - 344,949 816 - (345,200) 565 2,233 2016 1 Unavailable 52,224,211 25,995,842 345,000 2,233 3,415,981 $ 3,257,500 $ Total Projected (5,284,219) $ (3,297,635) $ Less Amount Received through 2015 (1,868,238) $ (40,135) $ Projected vs. Actual ASSUMPTIONS: The tax increment received after the RDA has expired is available due to the construction of the Recreation Center and is committed to that specific project, through tax year 2015 1 The 2016 projection is based on the 2016 adopted budget. Cash Balance Tax Increment Haircut Increment Other Cash Inflows Debt Repayment Other Cash Outflows Net Change Fiscal Year Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment ---PAGE BREAK--- Page 3 of 5 RDA - WASHINGTON BLVD - 3170 Change in Equity - $ Property Taxes Cash 64 $ 365,470 $ Property Taxes- Haircut Bond Reserve - $ - $ Parking Terrace Rev A/R 329,825 $ 1,401 $ Interest Income Assets 329,889 $ 366,871 $ Deferred Revenue 329,825 $ Interfund Note (Gen) - $ - $ Parking Structure - Operating Equity 64 $ - $ Debt service - Prin - Bonds Liabilties & Equity 329,889 $ - $ Debt service - Int 366,870 $ Haircut Allocation - $ Annual Bond Paying Agent Fee Beg Equity 63 $ - $ Debt service - Interfund Principal ($248,500 in current year) End Equity 64 $ 366,870 $ Change in Equity 1 $ 1 $ Rev minus Exp - $ Record of Note Payable Interfund Note 3,016,953 $ 1 $ Change in Equity Allowance for doubtful (3,016,953) $ - $ - $ Property Taxes Cash 63 $ 475,817 $ Property Taxes- Haircut Bond Reserve - $ - $ Parking Terrace Rev A/R 431,717 $ 797 $ Interest Income Assets 431,780 $ 476,614 $ Deferred Revenue 431,717 $ Interfund Note (Gen) - $ - $ Parking Structure - Operating Equity 64 $ - $ Debt service - Prin - Bonds Liabilties & Equity 431,780 $ - $ Debt service - Int 476,614 $ Haircut Allocation - $ Annual Bond Paying Agent Fee Beg Equity 64 $ - $ Debt service - Interfund Principal ($248,500 in current year) End Equity 64 $ 476,614 $ Change in Equity $ $ Rev minus Exp - $ Record of Note Payable Interfund Note 3,016,953 $ $ Change in Equity Allowance for doubtful (3,016,953) $ - $ - $ Property Taxes Cash 1,669 $ 376,053 $ Property Taxes- Haircut Bond Reserve - $ - $ Parking Terrace Rev A/R 333,425 $ 1,606 $ Interest Income Assets 335,093 $ 377,658 $ Deferred Revenue 333,425 $ Expenditure Interfund Note (Gen) - $ - $ Parking Structure - Operating Equity 1,669 $ - $ Debt service - Prin - Bonds Liabilties & Equity 335,093 $ - $ Debt service - Int 376,053 $ Haircut Allocation - $ Annual Bond Paying Agent Fee Beg Equity 64 $ - $ Debt service - Interfund Principal ($248,500 in current year) End Equity 1,669 $ 376,053 $ Change in Equity 1,605 $ 1,605 $ Rev minus Exp - $ Record of Note Payable Interfund Note 3,016,953 $ 1,605 $ Change in Equity Allowance for doubtful (3,016,953) $ - $ 2013 Revenue 2013 Balance Sheet Expenditure 2012 Revenue Expenditure 2012 Balance Sheet 2011 Revenue 2011 Balance Sheet July 1 through June 30 RDA CASHFLOW - WASHINGTON BLVD 3 ---PAGE BREAK--- Page 4 of 5 - $ Property Taxes Cash 1,668 $ 345,931 $ Property Taxes- Haircut Bond Reserve - $ - $ Parking Terrace Rev A/R 311,715 $ 1,020 $ Interest Income Assets 313,383 $ 346,951 $ Deferred Revenue 311,715 $ Expenditure Interfund Note (Gen) - $ - $ Parking Structure - Operating Equity 1,668 $ - $ Debt service - Prin - Bonds Liabilties & Equity 313,383 $ - $ Debt service - Int 346,951 $ Haircut Allocation - $ Annual Bond Paying Agent Fee Beg Equity 1,669 $ - $ Debt service - Interfund Principal ($248,500 in current year) End Equity 1,668 $ 346,951 $ Change in Equity $ $ Rev minus Exp - $ Record of Note Payable Interfund Note 3,016,953 $ $ Change in Equity Allowance for doubtful (3,016,953) $ - $ 2014 2014 Balance Sheet Revenue RDA CASHFLOW - WASHINGTON BLVD 4 ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3170-2-11400-R PROPERTY TAX - TAX INCREMENT 0.00 0.00 0.00 0.00 0.00 86.14 (241,280.86) (269,667.80) (263,918.16) (185,651.54) (359,820.58) (667,595.48) (590,288.99) (512,926.08) (417,846.62) (428,563.91) (415,689.86) 3170-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (344,948.93) (345,930.80) (376,052.69) (475,816.86) (365,470.23) (477,323.09) (210,482.91) (179,778.01) (175,945.46) (126,551.33) (219,335.89) 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-46000-R PARKING TERRACE REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,200.00) (1,200.00) (1,200.00) 0.00 (2,400.00) (57,609.07) 0.00 (6,826.63) (3,702.63) (66,651.68) 3170-2-61000-R INTEREST INCOME (815.97) (1,019.80) (1,605.52) (796.70) (1,400.29) (705.57) (3,522.04) (6,422.64) (8,758.32) (6,890.26) (9,821.25) (9,550.24) (7,468.43) (5,068.55) (13,321.58) (18,035.51) (18,122.66) 3170-2-82000-R BOND PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,425,000.00) 0.00 0.00 0.00 (345,764.90) (346,950.60) (377,658.21) (476,613.56) (366,870.52) (477,942.52) (455,285.81) (457,068.45) (449,821.94) (320,293.13) (588,977.72) (679,545.72) (655,366.49) (1,942,994.63) (437,994.83) (450,302.05) (500,464.20) EXPENDITURES 3170-2-07-550801-14101-E BUILDING REPAIR AND MAINTENANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,719.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-07-550801-14601-E OPERATING EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 29,022.27 69,694.46 7,344.12 58.96 0.00 28,620.88 41,439.63 38,209.09 25,786.48 23,313.44 12,363.63 3170-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 141,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 346,951.00 376,053.00 476,614.00 366,870.00 0.00 180,706.00 179,778.00 175,946.00 126,551.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 0.00 0.00 0.00 505,443.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 85,340.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL BONDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 320,000.00 225,000.00 215,000.00 230,000.00 225,000.00 1,645,000.00 200,000.00 190,000.00 195,000.00 3170-2-08-550802-22101-E DEBT SERVICE - PRINCIPAL CITY DEBT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-08-550802-22200-E DEBT SERVICE - INTEREST BONDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,000.00 8,890.87 29,640.94 38,712.50 53,185.00 22,781.25 71,498.27 94,875.40 103,150.00 113,712.50 3170-2-08-550802-22201-E DEBT SERVICE - INTEREST DEBT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 409.62 0.00 0.00 3170-2-08-550802-22300-E BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30,250.00 0.00 0.00 0.00 3170-2-09-550802-41000-E INTERFUND TRANSFERS 345,200.00 0.00 0.00 0.00 0.00 0.00 218,722.60 214,000.00 0.00 0.00 119,000.00 363,000.00 364,000.00 230,000.00 119,000.00 135,000.00 204,000.00 345,200.00 346,951.00 376,053.00 476,614.00 366,870.00 505,443.00 428,450.87 470,191.56 512,180.99 381,251.23 599,052.50 674,805.88 653,220.88 2,014,957.36 440,071.50 451,463.44 525,076.13 Net Change in Fund Balance (gain) loss (564.90) 0.40 (1,605.21) 0.44 (0.52) 27,500.48 (26,834.94) 13,123.11 62,359.05 60,958.10 10,074.78 (4,739.84) (2,145.61) 71,962.73 2,076.67 1,161.39 24,611.93 Beginning Fund Balance (1,668.19) (1,668.59) (63.38) (63.82) (63.30) (27,563.78) (728.84) (13,851.95) (76,211.00) (137,169.10) (147,243.88) (142,504.04) (140,358.43) (212,321.16) (214,397.83) (215,559.22) (240,171.15) Ending Fund Balance (2,233.09) (1,668.19) (1,668.59) (63.38) (63.82) (63.30) (27,563.78) (728.84) (13,851.95) (76,211.00) (137,169.10) (147,243.88) (142,504.04) (140,358.43) (212,321.16) (214,397.83) (215,559.22) BALANCE SHEET 3170-2-11100-B CASH IN BANK 2,233.09 1,668.19 1,668.59 63.38 63.82 63.30 27,563.78 3,987.95 13,851.95 (67,295.49) 3,377.35 3,461.27 (3,737.21) 1,278.94 596.01 1,042.14 1,450.16 3170-2-12200-B STATE TREASURER BOND RESRV 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 143,565.45 144,010.50 142,582.61 143,058.15 143,560.09 211,725.15 212,463.92 210,774.90 3170-2-13100-B ACCOUNTS RECEIVABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,200.00 3,183.10 0.00 0.00 0.00 0.00 3170-2-13600-B TAXES RECEIVABLE 342,060.59 311,714.69 333,424.59 431,716.83 329,825.48 431,805.02 406,245.26 397,568.69 387,472.68 260,233.88 503,971.29 423,574.59 415,782.65 531,718.83 0.00 891.77 3,334.16 3170-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (3,259.11) 0.00 (58.96) (10,218.75) 0.00 0.00 (4,480.60) 0.00 0.00 0.00 3170-2-24004-B DEFERRED REVENUE TAXES (342,060.59) (311,714.69) (333,424.59) (431,716.83) (329,825.48) (431,805.02) (406,245.26) (397,568.69) (387,472.68) (260,233.88) (503,971.29) (423,574.59) (415,782.65) (531,718.83) 0.00 0.00 0.00 3170-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3170-2-34000-B FUND BALANCE RESV DEBT SERVICE (2,233.09) (1,668.19) (1,668.59) (63.38) (63.82) (63.30) (27,563.78) (728.84) (13,851.95) (76,211.00) (137,169.10) (147,243.88) (142,504.04) (140,358.43) (212,321.16) (214,397.83) (215,559.22) 3170-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (530,000.00) 0.00 3170-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 530,000.00 0.00 3170-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Lester Park Project - $ - $ 100% A - $ None TIFF 2011/2018 None - $ - $ A 100% of available tax increment has been pledged to the Recreation Center. ---PAGE BREAK--- Lester Park OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Lester Park Project June 30, 2015 Inputs & Assumptions Base year: 1986 Tax Year Expiration: 2018 (recreation center purposes 2012-2018) Original tax base: 8,645,756 $ Anticipated tax base increment: Unknown Year tax increment Available to RDA N/A Tax rate: 0.17465% Anticipated annual rents / positive cash flow: N/A Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ Base Unavailable 8,645,756 $ - 1999 Unavailable 11,629,288 2,983,532 7,500 - 16,360 964 (25,000) (7,676) $ 4,036 $ 2000 Unavailable 12,038,489 3,392,733 39,500 - 46,813 2,175 (39,500) 9,488 14,695 2001 Unavailable 12,875,138 4,229,382 46,813 - 48,309 775 (41,000) 8,084 22,780 2002 Unavailable 12,875,138 4,229,382 48,309 - 45,100 1,276 (46,376) - 22,779 2003 Unavailable 12,875,138 4,229,382 45,100 - 78,505 1,737 (78,500) 1,742 24,521 2004 Unavailable 13,492,695 4,846,939 78,505 - 93,592 2,940 (117,600) (21,068) 3,453 2005 Unavailable 13,267,161 4,621,405 93,592 25,000 119,856 25,817 4,317 (14,339) (135,000) 651 4,103 2006 Unavailable 13,750,982 5,105,226 119,856 32,925 22,777 30,425 1,398 (30,425) (24,100) 75 4,178 2007 Unavailable 14,430,563 5,784,807 22,777 43,500 63,394 27,246 2,473 (27,192) (68,000) (2,079) 2,099 2008 Unavailable 15,451,566 6,805,810 63,394 36,000 55,075 36,718 1,417 (39,218) (55,000) (1,008) 1,091 2009 Unavailable 15,575,908 6,930,152 55,075 60,000 52,630 35,086 550 (39,086) (49,175) 5 1,096 2010 Unavailable 16,613,830 7,968,074 52,630 36,000 63,089 42,060 117 (49,266) (56,000) - 1,096 2011 Unavailable 15,127,917 6,482,161 63,089 41,600 52,581 35,054 345 (35,054) (52,928) 1,094 2012 Unavailable 15,169,731 6,523,975 52,581 50,000 54,125 37,295 167 (37,295) (54,292) * 0 1,094 2013 Unavailable 14,538,495 5,892,739 - 132,000 - 86,448 353 (86,448) - 352 1,447 2014 Unavailable 14,488,257 5,842,501 - 132,000 - 89,984 269 (90,253) - - 1,447 2015 Unavailable 15,098,204 6,452,448 - 90,000 438 92,975 208 (93,500) - 121 1,568 Projected 2016 1 Unavailable 15,098,204 6,452,448 - 90,000 - - - - - 90,000 91,568 " 2017 Unavailable 15,098,204 6,452,448 - - - - - - - - 91,568 " 2018 Unavailable 15,098,204 6,452,448 - - - - - - - - 91,568 2019 Unavailable 15,098,204 6,452,448 - - - - - - - # - 91,568 788,721 $ 769,025 $ Total Projected (812,644) $ (539,108) $ Less amount received through 2015 (23,923) $ 229,917 $ Projected vs. Actual ASSUMPTIONS: * RDA expires at the end of FY2011. Tax increment continues until tax year 2018, with all increment received going to Rec Center. 1 The 2016 projection is based on the 2016 adopted budget. Cash Balance Tax Increment Haircut Increment Other Cash Inflows Transfer to Rec Center Other Cash Outflows Net Change Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment Fiscal Year ---PAGE BREAK--- Page 3 of 5 LESTER - 3180 Change in Equity July 1 throguth June 30 52,581 $ Property Taxes Cash 1,094 $ 35,054 $ Property Taxes - Haircut A/R 79,159 $ 345 $ Interest Assets 80,253 $ 87,980 $ Deferred Rev 79,159 $ Equity 1,094 $ 35,054 $ Haircut to Rec Center Liabilties & Equity 80,253 $ 52,928 $ Interfund Transfer - Admin Operating expenses 87,982 $ $ Rev - Exp Beg Equity 1,096 $ - $ Record of Note Payable End Equity 1,094 $ $ Change in Equity Change in Equity $ 54,125 $ Property Taxes Cash 1,094 $ 37,295 $ Property Taxes - Haircut A/R 82,828 $ 167 $ Interest Assets 83,922 $ 91,587 $ Deferred Rev 82,828 $ Equity 1,094 $ 37,295 $ Haircut to Rec Center Liabilties & Equity 83,922 $ 54,292 $ Interfund Transfer - Admin Operating expenses 91,587 $ 0 $ Rev - Exp Beg Equity 1,094 $ Record of Note Payable End Equity 1,094 $ 0 $ Change in Equity Change in Equity 0 $ 2013 Balance Sheet - $ Property Taxes Cash 1,447 $ 86,448 $ Property Taxes - Haircut A/R 77,622 $ 353 $ Interest Assets 79,069 $ 86,800 $ Deferred Rev 77,622 $ Equity 1,446 $ 86,448 $ Haircut to Rec Center Liabilties & Equity 79,068 $ - $ Interfund Transfer - $ Operating expenses 86,448 $ 352 $ Rev - Exp Beg Equity 1,094 $ Record of Note Payable End Equity 1,446 $ 352 $ Change in Equity Change in Equity 352 $ 2011 Revenue Expenditure 2011 Balance Sheet 2012 Revenue Expenditure 2012 Balance Sheet 2013 Revenue Expenditure RDA CASHFLOW - LESTER PARK ---PAGE BREAK--- Page 4 of 5 - $ Property Taxes Cash 1,447 $ 89,984 $ Property Taxes - Haircut A/R 81,278 $ 269 $ Interest Assets 82,725 $ 90,253 $ Deferred Rev 81,278 $ Expenditure Equity 1,446 $ 90,253 $ Haircut to Rec Center Liabilties & Equity 82,724 $ - $ Interfund Transfer - $ Operating expenses 90,253 $ $ Rev - Exp Beg Equity 1,446 $ Record of Note Payable End Equity 1,446 $ $ Change in Equity Change in Equity $ 2014 Revenue 2014 Balance Sheet RDA CASHFLOW - LESTER PARK ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3180-2-11400-R PROPERTY TAX - TAX INCREMENT (437.92) 0.00 0.00 (54,125.14) (52,581.27) (63,089.24) (52,628.98) (55,075.67) (63,394.08) (22,776.86) (119,856.23) (93,591.86) (78,504.83) (45,099.53) (48,309.04) (46,812.61) (16,359.87) 3180-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (92,975.42) (89,984.09) (86,447.89) (37,295.10) (35,054.18) (42,059.50) (35,085.98) (36,717.90) (27,246.15) (30,424.65) (25,816.84) 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-61000-R INTEREST INCOME (208.14) (268.74) (352.51) (167.25) (344.85) (117.00) (549.89) (1,417.13) (2,473.01) (1,397.89) (4,316.60) (2,939.54) (1,736.99) (1,276.26) (775.43) (2,174.86) (963.94) 3180-2-72000-R MISCELLANEOUS REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (93,621.48) (90,252.83) (86,800.40) (91,587.49) (87,980.30) (105,265.74) (88,264.85) (93,210.70) (93,113.24) (54,599.40) (149,989.67) (96,531.40) (80,241.82) (46,375.79) (49,084.47) (48,987.47) (17,323.81) EXPENDITURES 3180-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-07-550801-14600-E OPERATING EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 28,800.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 93,500.00 90,253.00 86,448.00 37,295.00 35,054.00 42,060.00 35,086.00 39,218.00 27,192.00 30,424.65 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 0.00 0.00 0.00 7,206.00 4,000.00 3180-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,339.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-08-550802-41000-E INTERFUND TRANSFER 0.00 0.00 0.00 54,292.00 52,928.00 56,000.00 20,375.00 55,000.00 68,000.00 24,100.00 120,000.00 117,600.00 78,500.00 46,376.00 41,000.00 39,500.00 25,000.00 93,500.00 90,253.00 86,448.00 91,587.00 87,982.00 105,266.00 88,261.00 94,218.00 95,192.00 54,524.65 149,339.00 117,600.00 78,500.00 46,376.00 41,000.00 39,500.00 25,000.00 Net Change in Fund Balance (gain) loss (121.48) 0.17 (352.40) (0.49) 1.70 0.26 (3.85) 1,007.30 2,078.76 (74.75) (650.67) 21,068.60 (1,741.82) 0.21 (8,084.47) (9,487.47) 7,676.19 Beginning Fund Balance (1,446.66) (1,446.83) (1,094.43) (1,093.94) (1,095.64) (1,095.90) (1,092.05) (2,099.35) (4,178.11) (4,103.36) (3,452.69) (24,521.29) (22,779.47) (22,779.68) (14,695.21) (5,207.74) (12,883.93) Ending Fund Balance (1,568.17) (1,446.69) (1,446.86) (1,094.43) (1,093.94) (1,095.64) (1,095.90) (1,092.05) (2,099.35) (4,178.11) (4,103.36) (3,452.69) (24,521.29) (22,779.47) (22,779.68) (14,695.21) (5,207.74) BALANCE SHEET 3180-2-11100-B CASH IN BANK 1,568.17 1,446.69 1,446.86 1,094.46 1,093.94 1,095.64 1,095.90 1,092.05 2,099.35 4,178.11 4,103.36 3,452.69 24,521.29 22,779.47 22,779.68 14,695.21 4,035.52 3180-2-13600-B TAXES RECEIVABLE 84,160.54 81,278.31 77,622.03 82,828.48 79,158.96 94,908.27 78,427.57 81,259.07 80,722.43 68,089.45 59,862.05 43,606.03 46,654.92 59,664.10 0.00 0.00 1,172.22 3180-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-24004-B DEFERRED REVENUE TAXES (84,160.54) (81,278.31) (77,622.03) (82,828.48) (79,158.96) (94,908.27) (78,427.57) (81,259.07) (80,722.43) (68,089.45) (59,862.05) (43,606.03) (46,654.92) (59,664.10) 0.00 0.00 0.00 3180-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3180-2-34000-B FUND BALANCE RESV DEBT SERVICE (1,568.17) (1,446.69) (1,446.86) (1,094.43) (1,093.94) (1,095.64) (1,095.90) (1,092.05) (2,099.35) (4,178.11) (4,103.36) (3,452.69) (24,521.29) (22,779.47) (22,779.68) (14,695.21) (5,207.74) 3180-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (76,500.00) 0.00 3180-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 76,500.00 0.00 (0.00) 0.00 0.00 0.03 0.00 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Golden Links (ENTIRE PROJ) - $ - $ - $ - $ 2003/2004 TIFF 2012/2019 2026 - $ A - $ A 100% of available tax increment has been pledged to the Recreation Center. ---PAGE BREAK--- Golden Links OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Golden Links Project June 30, 2015 Inputs & Assumptions Base year: 1986 Tax Year Expiration: 2019 (recreation center purposes 2013 - 2019) Original tax base: - $ Anticipated tax base increment: - $ Year tax increment Available to RDA N/A Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ Discount factor for net present value: 0% Inflation factor for rents and future cash flows: Base 0 1999 Unavailable - $ - $ - $ - $ - $ - $ - $ - $ - $ 225 $ 2000 Unavailable 578,304 578,304 620,814 - 8,665 - 372 (9,000) 37 265 2001 Unavailable 581,516 581,516 8,053 - 7,708 - 61 (8,000) (231) 43 2002 Unavailable - - - 7,655 - 94 (5,000) 2,749 2,792 2003 Unavailable - - - - 7,081 - 169 (7,000) 250 3,043 2004 Unavailable 9,133 11,975 580 - 193 - 71 (372) (108) 2,935 2005 Unavailable 7,466 26,669 193 250 437 278 110 (151) (57) 617 3,552 2006 Unavailable 6,977 24,723 437 325 421 281 165 (281) (500) 86 3,639 2007 Unavailable 6,275 29,080 421 150 518 222 196 (222) (2,586) (1,872) 1,767 2008 Unavailable 6,272 27,017 518 200 449 192 91 (692) (718) (678) 1,089 2009 Unavailable 7,133 23,597 449 1,500 370 249 31 (649) - 1 1,090 2010 Unavailable 7,314 23,835 370 250 386 257 10 (1,611) - (958) 132 2011 Unavailable 5,811 23,093 386 250 395 263 4 (263) (399) - 132 2012 Unavailable 9,610 25,306 395 275 438 292 2 (292) (440) 0 132 2013 Unavailable 8,997 24,610 1,800 300 449 300 4 (300) (453) * 132 2014 Unavailable 8,887 8,887 1,800 300 - 727 3 (730) - - 132 2015 Unavailable 7,582 7,582 - 750 9 705 1 (710) - 4 136 Projected 2016 1 Unavailable - - - 725 - - - - - 725 861 " 2017 Unavailable - - - - - - - - - - 861 " 2018 Unavailable - - - - - - - - - - 861 " 2019 Unavailable - - - - - - - - - - 861 " 2020 Unavailable - - - - - - - - - - 861 636,216 $ 5,275 $ Total Projected (35,173.78) $ (3,765) $ Less amount received through 2015 601,042 $ 1,510 $ Projected vs. Actual * RDA expires at the end of FY2012. Tax increment continues until 2019, with all increment received going to Rec Center. 1 The 2016 projection is based on the 2016 adopted budget. Net Change Cash Balance Range (if applicable) Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment Tax Increment Haircut Increment Other Cash Inflows Fiscal Year Transfer to Rec Center Other Cash Outflows ---PAGE BREAK--- Page 3 of 5 GOLDEN LINKS - 3190 Change in Equity July 1 throguth June 30 395 $ Property Taxes Cash 132 $ 263 $ Property Taxes - haircut A/R 1,179 $ 4 $ Interest Assets 1,311 $ 662 $ Deferred Rev 1,179 $ Equity 132 $ 263 $ Haircut to Rec Center Liabilties & Equity 1,311 $ 399 $ Interfund Transfer - Admin - $ 662 $ - $ Rev - Exp Beg Equity 132 $ - $ Record of Note Payable End Equity 132 $ - $ Change in Equity Change in Equity - $ 438 $ Property Taxes Cash 132 $ 292 $ Property Taxes - haircut A/R 1,245 $ 2 $ Interest Assets 1,377 $ 732 $ Deferred Rev 1,245 $ Equity 132 $ 292 $ Haircut to Rec Center Liabilties & Equity 1,377 $ 440 $ Interfund Transfer - Admin 732 $ 0 $ Rev - Exp Beg Equity 132 $ Record of Note Payable End Equity 132 $ 0 $ Change in Equity Change in Equity 0 $ 449 $ Property Taxes Cash 132 $ 300 $ Property Taxes - haircut A/R 1,252 $ 4 $ Interest Assets 1,384 $ 753 $ Deferred Rev 1,252 $ Equity 132 $ 300 $ Haircut to Rec Center Liabilties & Equity 1,384 $ 453 $ Interfund Transfer - Admin 753 $ $ Rev - Exp Beg Equity 132 $ Record of Note Payable End Equity 132 $ $ Change in Equity Change in Equity $ 2011 Balance Sheet Expenditure 2013 Revenue 2013 Balance Sheet Expenditure Revenue Expenditure 2012 Balance Sheet 2012 Revenue 2011 RDA CASHFLOW - GOLDEN LINKS ---PAGE BREAK--- Page 4 of 5 - $ Property Taxes Cash 132 $ 727 $ Property Taxes - haircut A/R 647 $ 3 $ Interest Assets 779 $ 730 $ Deferred Rev 647 $ Equity 132 $ 730 $ Haircut to Rec Center Liabilties & Equity 779 $ - $ Interfund Transfer 730 $ 0 $ Rev - Exp Beg Equity 132 $ Record of Note Payable End Equity 132 $ 0 $ Change in Equity Change in Equity 0 $ Expenditure 2014 Revenue 2014 Balance Sheet RDA CASHFLOW - GOLDEN LINKS ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3190-2-11400-R PROPERTY TAX - TAX INCREMENT (8.54) 0.00 (449.24) (438.13) (394.71) (386.27) (370.13) (448.50) (518.53) (421.36) (437.40) 179.42 (7,081.40) (7,655.35) (7,707.80) (8,664.80) (8,964.51) 3190-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (704.72) (727.44) (299.50) (292.07) (263.17) (257.51) (249.01) (192.23) (221.81) (280.87) (277.69) 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-61000-R INTEREST INCOME (1.16) (2.89) (3.87) (2.15) (3.55) (9.55) (31.51) (90.73) (195.80) (165.35) (110.16) (71.26) (169.33) (93.60) (60.96) (371.84) (227.73) 3190-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (714.42) (730.33) (752.61) (732.35) (661.43) (653.33) (650.65) (731.46) (936.14) (867.58) (825.25) 108.16 (7,250.73) (7,748.95) (7,768.76) (9,036.64) (9,192.24) EXPENDITURES 3190-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 150.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 730.00 300.00 292.00 263.00 258.00 249.00 692.00 222.00 280.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 0.00 0.00 0.00 1,353.00 400.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 58.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-09-550802-41000-E INTERFUND TRANSFERS 710.00 0.00 453.00 440.00 399.00 0.00 0.00 718.00 2,586.00 500.00 0.00 0.00 7,000.00 5,000.09 8,000.00 9,000.00 9,200.00 710.00 730.00 753.00 732.00 662.00 1,611.00 649.00 1,410.00 2,808.00 780.87 208.00 0.00 7,000.00 5,000.09 8,000.00 9,000.00 9,200.00 Net Change in Fund Balance (gain) loss (4.42) (0.33) 0.39 (0.35) 0.57 957.67 (1.65) 678.54 1,871.86 (86.71) (617.25) 108.16 (250.73) (2,748.86) 231.24 (36.64) 7.76 Beginning Fund Balance (131.87) (131.54) (131.93) (131.58) (132.15) (1,089.82) (1,088.17) (1,766.71) (3,638.57) (3,551.86) (2,934.61) (3,042.77) (2,792.04) (43.18) (274.42) (237.78) (245.54) Ending Fund Balance (136.29) (131.87) (131.54) (131.93) (131.58) (132.15) (1,089.82) (1,088.17) (1,766.71) (3,638.57) (3,551.86) (2,934.61) (3,042.77) (2,792.04) (43.18) (274.42) (237.78) BALANCE SHEET 3190-2-11100-B CASH IN BANK 136.29 131.87 131.54 131.93 131.58 132.15 1,089.82 1,088.17 1,766.71 3,638.57 3,551.86 2,934.61 3,042.77 2,792.04 43.18 265.34 224.95 3190-2-13600-B TAXES RECEIVABLE 583.02 646.99 1,252.48 1,244.96 1,178.63 583.02 557.26 570.33 659.93 625.48 649.27 0.00 6,075.71 7,769.85 0.00 9.08 12.83 3190-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-24004-B DEFERRED REVENUE TAXES (583.02) (646.99) (1,252.48) (1,244.96) (1,178.63) (583.02) (557.26) (570.33) (659.93) (625.48) (649.27) 0.00 (6,075.71) (7,769.85) 0.00 0.00 0.00 3190-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190-2-34000-B FUND BALANCE RESV DEBT SERVICE (136.29) (131.87) (131.54) (131.93) (131.58) (132.15) (1,089.82) (1,088.17) (1,766.71) (3,638.57) (3,551.86) (2,934.61) (3,042.77) (2,792.04) (43.18) (274.42) (237.78) 3190-2-39100-B APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (11,250.00) 0.00 3190-2-39200-B ESTIMATED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11,250.00 0.00 3190-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Park Blvd Project - $ - $ - $ - $ 2003/2004 TIFF 2011/2018 2011/2018 - $ A - $ A 100% of available tax increment has been pledged to the Recreation Center. ---PAGE BREAK--- Park Boulevard OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Park Blvd Project June 30, 2015 Inputs & Assumptions Range (if applicable) Base year: 1986 Tax Year Expiration: 2018 (receration center purposes 2012-2018 Original tax base: 4,122,203 $ Anticipated tax base increment: - $ Year tax increment Available to RDA N/A Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ 1999 Unavailable 4,122,203 $ - $ - $ - $ - $ - $ - $ - $ - $ 2000 Unavailable 7,338,343 3,216,140 41,700 46,943 1,927 - (48,000) 870 26 2001 Unavailable 7,802,672 3,680,469 46,943 50,682 271 - (47,000) 3,953 5,136 2002 Unavailable 7,802,673 3,680,470 50,682 43,224 909 - (44,133) - 5,136 2003 Unavailable 7,802,674 3,680,471 43,224 49,425 936 - (49,400) 961 6,097 2004 Unavailable 7,900,446 3,778,243 49,425 41,722 1,190 (8,350) (38,375) (3,813) 2,284 2005 Unavailable 7,116,580 2,994,377 41,722 25,000 67,617 16,783 2,504 (9,144) (77,000) 759 3,043 2006 Unavailable 7,507,832 3,385,629 67,617 19,850 23,416 19,909 1,157 (19,909) (24,500) 72 3,115 2007 Unavailable 7,369,748 3,247,545 23,416 24,000 43,693 14,962 1,673 (17,597) (44,500) (1,768) 1,347 2008 Unavailable 7,623,497 3,501,294 43,693 21,000 27,649 18,433 727 (21,933) (25,000) (124) 1,223 2009 Unavailable 7,682,689 3,560,486 27,649 32,000 26,785 17,857 408 (20,156) (25,100) (206) 1,017 2010 Unavailable 7,412,110 3,289,907 26,785 18,000 25,877 17,252 54 (19,183) (25,000) (1,000) 17 2011 Unavailable 7,028,203 2,906,000 25,877 17,325 24,191 16,127 155 (16,127) (24,345) 1 18 2012 Unavailable 7,137,914 3,015,711 24,191 18,000 25,087 17,282 74 (17,282) (25,160) 1 18 2013 Unavailable 6,115,674 1,993,471 - 55,000 - 28,863 119 (28,863) - [PHONE REDACTED] Unavailable 8,059,101 3,936,898 - 65,000 - 59,940 172 (60,112) - 0 137 2015 Unavailable 8,494,422 4,372,219 - 30,000 287 63,188 135 (63,500) - 109 247 Projected 2016 1 Unavailable 8,494,422 4,372,219 - 60,000 - - - - - - 247 " 2017 Unavailable 8,494,422 4,372,219 - - - - - - - - 247 " 2018 Unavailable 8,494,422 4,372,219 - - - - - - - - 247 " 2019 Unavailable 8,494,422 4,372,219 - - - - - - - # - 247 512,924 $ 385,175 $ Total Projected (496,597) $ (290,597) $ Less amount received through 2015 16,327 $ 94,578 $ Projected vs. Actual ASSUMPTIONS: * RDA expires at the end of FY2011. Tax increment continues until tax year 2018, with all increment received going to Rec Center. 1 The 2016 projection is based on the 2016 adopted budget Cash Balance Tax Increment Haircut Increment Other Cash Inflows Transfer to Rec Center Other Cash Outflows Net Change Fiscal Year Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment ---PAGE BREAK--- Page 3 of 5 PARK BLVD - 3200 Change in Equity July 1 through June 30 24,191 $ Property Taxes Cash 18 $ 16,127 $ Property Taxes - Haircut A/R 34,436 $ 155 $ Interest Assets 34,454 $ 40,473 $ Deferred Rev 34,436 $ Equity 18 $ 16,127 $ Haircut to Rec Center expenditure Control - $ 24,345 $ Interfund Transfer - Admin Liabilties & Equity 34,454 $ 40,472 $ 1 $ Rev - Exp Beg Equity 17 $ - $ Record of Note Payable End Equity 18 $ 1 $ Change in Equity Change in Equity 1 $ 25,087 $ Property Taxes Cash 18 $ 17,282 $ Property Taxes - Haircut A/R 38,413 $ 74 $ Interest Assets 38,432 $ 42,443 $ Deferred Rev 38,413 $ Equity 19 $ 17,282 $ Haircut to Rec Center expenditure Control 25,160 $ Interfund Transfer - Admin Liabilties & Equity 38,432 $ 42,442 $ 1 $ Rev - Exp Beg Equity 18 $ Record of Note Payable End Equity 19 $ 1 $ Change in Equity Change in Equity 1 $ - $ Property Taxes Cash 137 $ 28,863 $ Property Taxes - Haircut A/R 25,786 $ 119 $ Interest Assets 25,922 $ 28,982 $ Deferred Rev 25,786 $ Equity 137 $ 28,863 $ Haircut to Rec Center expenditure Control - $ Interfund Transfer - Admin Liabilties & Equity 25,922 $ 28,863 $ 119 $ Rev - Exp Beg Equity 19 $ Record of Note Payable End Equity 137 $ 119 $ Change in Equity Change in Equity 119 $ Balance Sheet 2012 Revenue 2012 Balance Sheet 2013 Revenue 2013 Balance Sheet Expenditure 2011 Revenue Expenditure 2011 Expenditure RDA CASHFLOW - PARK BLVD. ---PAGE BREAK--- Page 4 of 5 - $ Property Taxes Cash 138 $ 59,940 $ Property Taxes - Haircut A/R 54,291 $ 172 $ Interest Assets 54,429 $ 60,112 $ Deferred Rev 54,291 $ Equity 137 $ 60,112 $ Haircut to Rec Center expenditure Control - $ Interfund Transfer - Admin Liabilties & Equity 54,428 $ 60,112 $ 0 $ Rev - Exp Beg Equity 137 $ Record of Note Payable End Equity 137 $ 0 $ Change in Equity Change in Equity 0 $ Revenue 2014 2014 Balance Sheet Expenditure RDA CASHFLOW - PARK BLVD. ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3200-2-11400-R PROPERTY TAX - TAX INCREMENT (286.53) 0.00 0.00 (25,086.66) (24,190.63) (25,877.48) (26,784.33) (27,649.73) (43,693.49) (23,415.53) (67,616.57) (41,722.26) (49,425.20) (43,223.93) (50,682.05) (46,943.13) (10,963.62) 3200-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (63,188.13) (59,940.16) (28,862.81) (17,282.42) (16,127.10) (17,251.65) (17,856.21) (18,433.16) (14,962.29) (19,909.47) (16,782.83) 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-61000-R INTEREST INCOME (134.62) (172.07) (119.06) (73.72) (154.62) (54.15) (408.01) (727.24) (1,672.53) (1,156.91) (2,504.18) (1,190.09) (935.70) (909.25) (270.73) (1,927.32) (640.05) 3200-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (63,609.28) (60,112.23) (28,981.87) (42,442.80) (40,472.35) (43,183.28) (45,048.55) (46,810.13) (60,328.31) (44,481.91) (86,903.58) (42,912.35) (50,360.90) (44,133.18) (50,952.78) (48,870.45) (11,603.67) EXPENDITURES 3200-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 60,112.00 28,863.00 17,282.00 16,127.00 17,252.00 17,856.00 21,933.00 17,597.00 19,909.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 0.00 0.00 0.00 1,931.00 2,300.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-07-550801-14615-E HAIRCUT RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,144.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-09-550802-41000-E INTERFUND TRANSFERS 63,500.00 0.00 0.00 25,160.00 24,345.00 25,000.00 25,100.00 25,000.00 44,500.00 24,500.00 62,000.00 46,725.00 49,400.00 44,133.00 47,000.00 48,000.00 18,300.00 63,500.00 60,112.00 28,863.00 42,442.00 40,472.00 44,183.00 45,256.00 46,933.00 62,097.00 44,409.47 86,144.00 46,725.00 49,400.00 44,133.00 47,000.00 48,000.00 18,300.00 Net Change in Fund Balance (gain) loss (109.28) (0.23) (118.87) (0.80) (0.35) 999.72 207.45 122.87 1,768.69 (72.44) (759.58) 3,812.65 (960.90) (0.18) (3,952.78) (870.45) 6,696.33 Beginning Fund Balance (137.50) (137.27) (18.40) (17.60) (17.25) (1,016.97) (1,224.42) (1,347.29) (3,115.98) (3,043.54) (2,283.96) (6,096.61) (5,135.71) (5,135.53) (1,182.75) (312.30) (7,008.63) Ending Fund Balance (246.78) (137.50) (137.27) (18.40) (17.60) (17.25) (1,016.97) (1,224.42) (1,347.29) (3,115.98) (3,043.54) (2,283.96) (6,096.61) (5,135.71) (5,135.53) (1,182.75) (312.30) BALANCE SHEET 3200-2-11100-B CASH IN BANK 246.78 137.50 137.27 18.40 17.60 17.25 1,016.97 1,224.42 1,347.29 3,115.98 3,043.54 2,283.96 6,096.61 5,135.71 5,135.53 25.87 301.54 3200-2-13600-B TAXES RECEIVABLE 57,420.52 54,291.28 25,785.51 38,412.58 34,436.10 38,808.76 40,118.48 40,993.79 44,039.25 44,485.87 38,014.67 26,672.94 34,374.17 43,959.01 0.00 1,156.88 10.76 3200-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-24004-B DEFERRED REVENUE TAXES (57,420.52) (54,291.28) (25,785.51) (38,412.58) (34,436.10) (38,808.76) (40,118.48) (40,993.79) (44,039.28) (44,485.87) (38,014.67) (26,672.94) (34,374.17) (43,959.01) 0.00 0.00 0.00 3200-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3200-2-34000-B FUND BALANCE RESV DEBT SERVICE (246.78) (137.50) (137.27) (18.40) (17.60) (17.25) (1,016.97) (1,224.42) (1,347.29) (3,115.98) (3,043.54) (2,283.96) (6,096.61) (5,135.71) (5,135.53) (1,182.75) (312.30) 3200-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (53,000.00) 0.00 0.00 0.00 3200-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 53,000.00 0.00 0.00 0.00 3200-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) 0.00 0.00 (0.00) (0.03) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated 12th Street (ENTIRE PROJ) - $ - $ - $ 100% A 1987 TIFF 2015/2022 2000 1,640,084 $ 471,689 $ A Committed to the Recreation Center Development ---PAGE BREAK--- 12th Street OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - 12th Street Project June 30, 2015 Inputs & Assumptions Base year: 1987 Tax Year Expiration: 2022 (recreation purposes 2016 - 2022) Original tax base: 2,797,124 $ Anticipated tax base increment: 9,100,000 $ Year tax increment Available to RDA 1989 Tax rate: 1.74650% Anticipated annual rents / positive cash flow: - $ Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ BASE 2,131,068 $ 21,052 $ 1999 Unavailable 11,701,212 $ 9,570,144 26,400 $ 30,444 $ 1,939 $ - $ (53,144) $ (20,761) $ 435 2000 Unavailable 11,538,556 9,407,488 136,000 147,652 6,188 - (153,000) 840 1,208 2001 Unavailable 10,692,305 6,848,990 147,652 116,142 801 - (142,000) (25,057) (23,739) 2002 Unavailable 10,581,182 6,201,639 108,883 101,434 1,461 - (79,100) 23,795 56 2003 Unavailable 10,382,152 6,202,875 101,434 100,530 1,725 - (100,500) 1,755 1,811 2004 Unavailable 10,423,431 5,470,001 100,530 88,160 2,239 - (87,650) 2,749 4,560 2005 Unavailable 11,238,179 6,088,814 88,160 35,057 99,613 62,259 - (161,190) 682 5,242 2006 Unavailable 11,289,788 8,140,055 99,613 58,450 83,006 55,611 3,211 (55,611) (86,200) 17 5,259 2007 Unavailable 11,250,239 7,878,909 77,472 46,500 98,297 42,050 3,756 (42,104) (101,000) 999 6,258 2008 Unavailable 11,394,818 7,875,624 98,297 41,750 91,620 39,265 2,383 (43,266) (95,000) (4,998) 1,260 2009 Unavailable 11,870,094 8,302,487 91,620 60,000 91,128 39,055 1,130 (84,955) (46,325) 33 1,293 2010 Unavailable 11,886,001 8,321,334 91,128 39,000 94,335 40,429 145 (81,687) (54,423) (1,201) 92 2011 Unavailable 11,221,336 7,841,976 94,335 40,475 92,547 41,590 524 (41,590) (93,071) - 92 2012 Unavailable 11,028,447 7,513,635 92,547 45,000 78,985 51,061 228 (51,061) (79,213) - 92 2013 Unavailable 12,799,881 8,767,586 115,000 45,000 96,026 64,017 639 (90,432) (70,250) 1 93 2014 Unavailable 13,439,849 6,785,269 115,000 45,000 112,428 48,183 466 (48,183) (112,893) 0 93 2015 Unavailable 13,774,232 6,985,898 112,000 48,000 117,737 50,428 400 (50,500) (80,000) 38,065 38,157 Projected 2016 1 Unavailable 13,774,232 6,985,898 96,300 64,200 - - - - - 38,157 " 2017 Unavailable 13,774,232 11,643,164 - - - - - 38,157 " 2018 Unavailable 13,774,232 11,643,164 - - - - - 38,157 " 2019 Unavailable 13,774,232 11,643,164 - - - - - 38,157 " 2020 Unavailable 13,774,232 11,643,164 - - - - - 38,157 " 2021 Unavailable 13,774,232 11,643,164 - - - - - 38,157 " 2022 Unavailable 13,774,232 11,643,164 - - - - - 38,157 " 2023 Unavailable 13,774,232 11,643,164 - - - - - 38,157 2,360,803 $ 568,432 $ Total Projected (1,640,084) $ (471,689) $ Less amount received through 2015 720,720 $ 96,743 $ Projected vs. Actual 1 The 2016 projection is based on the 2016 adopted budget. Cash Balance Tax Increment "Haircut" Tax Increment Other Cash Inflows Transfer to Recreation Center Transfer to Admin, Housing, etx. Net Change Fiscal Year Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment ---PAGE BREAK--- Page 3 of 5 RDA - 12 th Street - 3240 Change in Equity July 1 - June 30 92,547 $ Property Taxes Cash 92 $ 41,589 $ Property Taxes - Haircut - $ Misc Revenue A/R 119,884 $ 524 $ Interest Income Assets 119,976 $ 134,660 $ Deferred Rev 119,884 $ Equity 92 $ 41,590 $ Haircut Allocation to Rec Center Liabilties & Equity 119,976 $ 93,071 $ Interfund transfer - Admin 134,661 $ $ Rev - Exp Beg Equity 92 $ Record of Note Payable End Equity 92 $ $ Change in Equity Change in Equity $ 78,985 $ Property Taxes Cash 92 $ 51,061 $ Property Taxes - Haircut - $ Misc Revenue A/R 117,625 $ 228 $ Interest Income Assets 117,717 $ 130,274 $ Deferred Rev 117,625 $ Equity 92 $ 51,061 $ Haircut Allocation to Rec Center Liabilties & Equity 117,717 $ 79,213 $ Interfund transfer - Admin 130,274 $ 0 $ Rev - Exp Beg Equity 92 $ Record of Note Payable End Equity 92 $ 0 $ Change in Equity Change in Equity 0 $ 96,026 $ Property Taxes Cash 93 $ 64,017 $ Property Taxes - Haircut A/R 143,663 $ - $ Misc Revenue Assets 143,755 $ 639 $ Interest Income 160,683 $ Deferred Rev 143,663 $ Expenditure Equity 93 $ 90,432 $ Haircut Allocation to Rec Center Liabilties & Equity 143,755 $ 70,250 $ Interfund transfer - Admin 160,682 $ 1 $ Rev - Exp Beg Equity 92 $ Record of Note Payable End Equity 93 $ 1 $ Change in Equity Change in Equity 1 $ Revenue Balance Sheet Expenditure 2013 Revenue Balance Sheet 2011 Balance Sheet Revenue 2011 2012 2013 2012 Expenditure RDA CASHFLOW - 12th Street ---PAGE BREAK--- Page 4 of 5 112,428 $ Property Taxes Cash 93 $ 48,183 $ Property Taxes - Haircut A/R 145,004 $ - $ Misc Revenue Assets 145,097 $ 466 $ Interest Income 161,076 $ Deferred Rev 145,004 $ Equity 93 $ 48,183 $ Haircut Allocation to Rec Center Liabilties & Equity 145,097 $ 112,893 $ Interfund transfer - Admin 161,076 $ 0 $ Rev - Exp Beg Equity 93 $ Record of Note Payable End Equity 93 $ 0 $ Change in Equity Change in Equity 0 $ 117,737 $ Property Taxes Cash 38,157 $ 50,428 $ Property Taxes - Haircut A/R 152,067 $ - $ Misc Revenue Assets 190,225 $ Revenue Balance Sheet Expenditure 2015 Revenue Balance Sheet 2015 2014 2014 RDA CASHFLOW - 12th Street ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 REVENUE 3240-2-11400-R PROPERTY TAX - TAX INCREMENT (117,736.87) (112,427.67) (96,026.11) (78,984.81) (92,547.13) (94,334.92) (91,128.57) (91,620.38) (98,297.14) (83,006.17) (99,613.43) 3240-2-11410-R PROPERTY TAX HAIRCUT - TAX INC. (50,427.93) (48,182.61) (64,017.40) (51,061.33) (41,589.31) (40,429.26) (39,055.11) (39,265.86) (42,049.62) (55,610.69) (57,740.69) 3240-2-61000-R INTEREST INCOME (399.78) (465.92) (638.99) (228.27) (523.93) (145.05) (1,130.06) (2,382.78) (3,755.77) (3,210.68) (4,517.82) 3240-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (168,564.58) (161,076.20) (160,682.50) (130,274.41) (134,660.37) (134,909.23) (131,313.74) (133,269.02) (144,102.53) (141,827.54) (161,871.94) EXPENDITURES 3240-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-07-550801-14601-E OPERATING EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREEHOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25,157.00 3240-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 48,183.00 64,017.00 51,061.00 41,590.00 40,429.00 39,055.00 43,266.00 42,104.00 55,610.69 0.00 3240-2-07-550801-14613-E ADDITIONAL ALLOCATION TO REC CENTER 0.00 0.00 26,415.00 0.00 0.00 41,258.00 45,900.00 0.00 0.00 0.00 0.00 3240-2-07-550801-14615-E HAIRCUT RESERVED TO FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11,033.00 3270-2-07-550801-33000-E CAPITAL EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-09-550802-41000-E INTERFUND TRANSFERS 130,500.00 112,893.00 70,250.00 79,213.00 93,071.00 54,423.00 46,325.00 95,000.00 101,000.00 86,200.00 125,000.00 130,500.00 161,076.00 160,682.00 130,274.00 134,661.00 136,110.00 131,280.00 138,266.00 143,104.00 141,810.69 161,190.00 Net Change in Fund Balance (gain) loss (38,064.58) (0.20) (0.50) (0.41) 0.63 1,200.77 (33.74) 4,996.98 (998.53) (16.85) (681.94) Beginning Fund Balance (92.77) (92.57) (92.07) (91.66) (92.29) (1,293.06) (1,259.32) (6,256.30) (5,257.77) (5,240.92) (4,558.98) Ending Fund Balance (38,157.35) (92.77) (92.57) (92.07) (91.66) (92.29) (1,293.06) (1,259.32) (6,256.30) (5,257.77) (5,240.92) BALANCE SHEET 3240-2-11100-B CASH IN BANK 38,157.35 92.77 92.57 92.07 91.66 92.29 1,293.06 1,259.32 6,256.30 5,257.77 5,240.92 3240-2-12200-B INVESTMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-13601-B TAXES RECEIVABLE 152,067.36 145,004.00 143,662.72 117,624.80 119,884.27 122,045.32 117,215.48 116,651.31 125,249.28 125,368.41 136,358.47 3240-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-22500-B DUE TO WEBER CO-COLLECTION 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-24004-B DEFERRED REVENUE TAXES (152,067.36) (145,004.00) (143,662.72) (117,624.80) (119,884.27) (122,045.32) (117,215.48) (116,651.31) (125,249.28) (125,368.41) (136,358.47) 3240-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-34000-B FUND BALANCE TO RESV DEBT SRVC (38,157.35) (92.77) (92.57) (92.07) (91.66) (92.29) (1,293.06) (1,259.32) (6,256.30) (5,257.77) (5,240.92) 3270-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3240-2-39300-B BUDGETARY - ESTIMATED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) (0.00) 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated South CBD District - $ - $ 100% A - $ None TIFF 2015/2022 2005 A 100% of available tax increment is committed to the Recreation Center ---PAGE BREAK--- South CBD OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - South CBD District June 30, 2015 Inputs & Assumptions Base year: 1987 Tax Year Expiration: 2022 (receration center purposes 2016 - 2022) Original tax base: 5,837,508 $ Anticipated tax base increment: 1,875,000 $ Year tax increment Available to RDA N/A Tax rate: N/A Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ 51,043 $ 1999 Unavailable 6,166,458 $ 328,950 $ 7,200 $ 5,584 $ - $ 2,817 $ - $ (3,001) $ 5,400 $ 56,443 2000 Unavailable 7,356,406 1,518,898 $ 5,584 22,561 - 3,310 - - 25,871 82,490 2001 Unavailable 8,436,681 2,599,173 $ 22,561 26,699 - 2,786 - - 29,485 112,007 2002 Unavailable 8,680,596 2,843,088 $ 25,030 55,221 - 3,144 - - 58,365 110,715 2003 Unavailable 8,843,846 3,006,338 $ 55,221 69,532 - 4,114 - - 73,646 244,018 2004 Unavailable 8,790,233 2,952,725 $ 69,532 171,346 - 10,337 - - 181,683 425,701 2005 Unavailable 6,564,815 727,307 $ 171,346 5,000 28,008 - 7,670 (200,000) (240,640) (404,962) 20,739 2006 Unavailable 7,712,605 1,875,097 $ 28,008 10,575 21,909 - 1,376 - (23,195) 90 20,829 2007 Unavailable 6,966,193 1,128,685 $ 20,448 6,000 11,499 4,912 1,454 - (29,923) (12,058) 8,771 2008 Unavailable 7,153,072 1,315,564 $ 11,499 5,500 13,017 5,579 697 - (26,978) (7,685) 1,086 2009 Unavailable 8,062,932 2,225,424 $ 13,017 15,000 21,640 9,274 285 - (31,199) - 1,086 2010 Unavailable 8,728,601 2,891,093 $ 21,640 9,000 28,746 12,320 49 - (42,115) (1,000) 86 2011 Unavailable 8,760,267 2,922,759 $ 28,746 13,550 29,766 13,853 168 - (43,787) - 86 2012 Unavailable 7,813,782 1,976,274 $ 29,766 14,000 16,924 10,928 51 - (27,903) 86 2013 Unavailable 7,980,447 2,142,939 $ 43,000 14,000 19,468 12,978 131 - (32,498) 79 165 2014 Unavailable 8,767,749 2,930,241 $ 43,000 14,000 42,432 18,185 173 - (60,790) 0 165 2015 Unavailable 10,456,514 4,619,006 $ 20,000 12,000 47,016 20,138 142 - (67,000) 296 461 Projected 2016 1 Unavailable 10,456,514 4,619,006 $ - 60,900 - - - - - - 461 " 2017 Unavailable 10,456,514 4,619,006 $ - - - - - - - - 461 " 2018 Unavailable 10,456,514 4,619,006 $ - - - - - - - - 461 " 2019 Unavailable 10,456,514 4,619,006 $ - - - - - - - - 461 " 2020 Unavailable 10,456,514 4,619,006 $ - - - - - - - - 461 " 2021 Unavailable 10,456,514 4,619,006 $ - - - - - - - - 461 " 2022 Unavailable 10,456,514 4,619,006 $ - - - - - - - - 461 615,599 $ 179,525 $ Total Projected (631,367) $ (108,166) $ Less amount received through 2015 (15,769) $ 71,359 $ Projected vs. Actual 1 The 2016 Projection is based on the 2016 adopted budget. Cash Balance Tax Increment Haircut Increment Other Cash Inflows Debt Repayment Other Cash Outflows Net Change Fiscal Year Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment ---PAGE BREAK--- Page 3 of 5 SOUTH CBD - 3150 Change in Equity 29,766 $ Property Taxes Cash 86 $ 13,853 $ Property Taxes - Haircut A/R 39,369 $ 168 $ Interest Assets 39,455 $ 43,787 $ Deferred Rev 39,369 $ Equity 86 $ 13,853 $ Haircut to Rec Center Liabilities & Equity 39,455 $ 29,934 $ Interfund Transfer - Admin 43,787 $ - $ Rev minus Exp Beg Equity 86 $ - $ Record of Note Payable End Equity 86 $ - $ Change in Equity Change in Equity - $ 16,924 $ Property Taxes Cash 86 $ 10,928 $ Property Taxes - Haircut A/R 25,089 $ 51 $ Interest Assets 25,174 $ 27,903 $ Deferred Rev 25,089 $ Equity 86 $ 10,928 $ Haircut to Rec Center Liabilities & Equity 25,174 $ 16,975 $ Interfund Transfer - Admin 27,903 $ $ Rev minus Exp Beg Equity 86 $ Record of Note Payable End Equity 86 $ $ Change in Equity Change in Equity $ 19,468 $ Property Taxes Cash 165 $ 12,978 $ Property Taxes - Haircut A/R 26,936 $ 131 $ Interest Assets 27,101 $ 32,577 $ Deferred Rev (26,936) $ Equity 165 $ 12,978 $ Haircut to Rec Center Liabilities & Equity (26,771) $ 19,520 $ Interfund Transfer - Admin 32,498 $ 79 $ Rev minus Exp Beg Equity 86 $ Record of Note Payable End Equity 165 $ 79 $ Change in Equity Change in Equity 79 $ July 1 through June 30 Revenue 2011 Revenue 2011 Balance Sheet 2013 Expenditure 2012 Revenue Expenditure 2012 Balance Sheet Expenditure 2013 Balance Sheet RDA CASHFLOW - SOUTH CBD ---PAGE BREAK--- Page 4 of 5 42,432 $ Property Taxes Cash 165 $ 18,185 $ Property Taxes - Haircut A/R 54,980 $ 173 $ Interest Assets 55,145 $ 60,790 $ Deferred Rev 54,980 $ Expenditure Equity 165 $ 18,185 $ Haircut to Rec Center Liabilities & Equity 55,145 $ 42,605 $ Interfund Transfer - Admin 60,790 $ 0 $ Rev minus Exp Beg Equity 165 $ Record of Note Payable End Equity 165 $ 0 $ Change in Equity Change in Equity 0 $ 2014 Revenue 2014 Balance Sheet RDA CASHFLOW - SOUTH CBD ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3150-2-11400-R PROPERTY TAX - TAX INCREMENT (47,015.98) (42,432.22) (19,467.57) (16,923.62) (29,766.18) (28,746.56) (21,639.56) (13,017.78) (11,498.53) (11,613.78) (22,241.51) (171,345.79) (69,531.83) (55,221.14) (26,698.80) (22,561.10) (5,583.90) 3150-2-11410-R PROPERTY TAX - HAIRCUT TAX INC (20,137.51) (18,184.66) (12,978.41) (10,927.60) (13,852.39) (12,319.96) (9,274.10) (5,579.03) (4,912.35) (10,294.92) (5,766.81) 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-61000-R INTEREST INCOME (142.33) (173.45) (131.20) (51.34) (167.96) (48.73) (284.96) (697.60) (1,454.01) (1,375.67) (7,670.07) (10,337.35) (4,114.26) (3,144.21) (2,785.92) (3,310.37) (2,816.63) 3150-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (67,295.82) (60,790.33) (32,577.18) (27,902.56) (43,786.53) (41,115.25) (31,198.62) (19,294.41) (17,864.89) (23,284.37) (35,678.39) (181,683.14) (73,646.09) (58,365.35) (29,484.72) (25,871.47) (8,400.53) EXPENDITURES 3150-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 18,185.00 12,978.00 10,928.00 13,853.00 12,320.00 9,274.00 6,979.00 4,923.00 10,294.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 0.00 0.00 0.00 0.00 7,795.00 15,025.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,640.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 200,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,001.26 3150-2-09-550802-41000-E INTERFUND TRANSFERS 67,000.00 42,605.00 19,520.00 16,975.00 29,934.00 22,000.00 6,900.00 20,000.00 25,000.00 12,900.00 25,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-09-550802-41050-E HOUSING FUNDS TRANSFER TO CBD MALL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 210,000.00 0.00 0.00 0.00 0.00 0.00 0.00 67,000.00 60,790.00 32,498.00 27,903.00 43,787.00 42,115.00 31,199.00 26,979.00 29,923.00 23,194.92 440,640.00 0.00 0.00 0.00 0.00 0.00 3,001.26 Net Change in Fund Balance (gain) loss (295.82) (0.33) (79.18) 0.44 0.47 999.75 0.38 7,684.59 12,058.11 (89.45) 404,961.61 (181,683.14) (73,646.09) (58,365.35) (29,484.72) (25,871.47) (5,399.27) Beginning Fund Balance (164.97) (164.64) (85.46) (85.90) (86.37) (1,086.12) (1,086.50) (8,771.09) (20,829.20) (20,739.75) (425,701.36) (244,018.22) (170,372.13) (112,006.78) (82,522.06) (56,650.59) (51,251.32) Ending Fund Balance (460.79) (164.97) (164.64) (85.46) (85.90) (86.37) (1,086.12) (1,086.50) (8,771.09) (20,829.20) (20,739.75) (425,701.36) (244,018.22) (170,372.13) (112,006.78) (82,522.06) (56,650.59) BALANCE SHEET 3150-2-11100-B CASH IN BANK 460.79 164.97 164.64 85.46 85.90 86.37 1,086.12 1,086.50 8,771.09 20,829.20 20,739.75 425,701.36 244,018.22 110,714.68 112,006.78 82,490.41 56,442.51 3150-2-13600-B TAXES RECEIVABLE 60,765.51 54,979.56 26,936.05 25,088.61 39,369.18 41,035.60 27,945.50 16,574.20 14,303.02 22,795.23 11,897.82 17,405.69 46,649.72 59,657.45 0.00 31.65 208.08 3150-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,001.26 3150-2-24004-B DEFERRED REVENUE TAXES (60,765.51) (54,979.56) (26,936.05) (25,088.61) (39,369.18) (41,035.60) (27,945.50) (16,574.20) (14,303.02) (22,795.23) (11,897.82) (17,405.69) (46,649.72) 0.00 0.00 0.00 0.00 3150-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3150-2-34000-B FUND BALANCE RESV DEBT SERVICE (460.79) (164.97) (164.64) (85.46) (85.90) (86.37) (1,086.12) (1,086.50) (8,771.09) (20,829.20) (20,739.75) (425,701.36) (244,018.22) (170,372.13) (112,006.78) (82,522.06) (56,650.59) 3150-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (24,000.00) 0.00 3150-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 24,000.00 0.00 3150-2-39300-B BUDGERARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,001.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Lincoln Project - $ - $ 100% A - $ None TIFF 2017/2024 None 379,863 $ 3,730,522 $ A 100% of the available tax increment is committed to the Recreation Center. ---PAGE BREAK--- Lincoln Inputs & Assumptions Base year: 1987 Tax Year Expiration: 2024 (recreation center purposes 2018-2024) Original tax base: 5,032,087 $ Anticipated tax base increment: 15,000,000 $ Year tax increment Available to RDA 1988 Tax rate: N/A Anticipated annual rents / positive cash flow: - $ Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ BASE Unavailable 5,032,087 $ - $ 1999 Unavailable 5,500,000 467,913 10,000 $ - $ 9,476 $ 2,369 $ 2,444 $ (1,643) $ - $ 12,646 $ 52,420 $ 2000 Unavailable 5,995,953 963,866 11,845 - 17,643 $ 4,411 $ 2,798 - (7,545) 17,307 69,727 2001 Unavailable 5,857,451 825,364 22,054 - 28,730 $ 7,183 $ 2,299 - (1,600) 36,612 107,159 2002 Unavailable 5,297,303 265,216 35,913 - 19,805 $ 4,951 $ 2,442 - (27,198) - 106,759 Scowcroft 2003 Unavailable 6,884,212 1,852,125 24,756 - 27,761 $ 6,940 $ 2,392 - (1,953) 35,140 141,899 2004 Unavailable 7,607,173 2,575,086 34,701 - 33,865 $ 11,288 $ 4,577 - (182,295) (132,565) 9,334 2005 Unavailable 17,505,027 12,472,940 45,153 48,000 159,850 $ 80,368 $ 7,082 - (246,848) 452 9,786 2006 Unavailable 19,707,056 14,674,969 240,218 94,950 156,750 $ 92,814 $ 7,148 - (256,701) 11 9,841 2007 Unavailable 19,186,523 14,154,436 249,564 60,000 163,506 $ 54,277 $ 5,973 - (230,446) (6,690) 3,108 2008 Unavailable 17,616,186 12,584,099 217,783 55,000 130,758 $ 43,586 $ 257,121 - (44,526) 386,939 134,823 2009 Unavailable 18,022,866 12,990,779 174,344 75,000 121,188 $ 52,139 $ 4,701 - (311,784) (133,756) 1,047 2010 Unavailable 18,275,932 13,243,845 173,327 52,500 128,938 $ 55,205 $ - - (185,333) (1,190) (143) 2011 Unavailable 19,167,654 14,135,567 184,143 55,175 147,163 $ 62,922 $ - - (210,085) - (143) 2012 Unavailable 18,716,822 13,684,735 210,085 65,000 141,810 $ 60,713 $ 245,536 - (442,508) 5,552 5,409 2013 Unavailable 35,588,221 30,556,134 370,000 65,000 333,715 $ 142,817 $ 2,857 - (478,559) 831 227,409 2014 Unavailable 37,584,931 32,552,844 370,000 65,000 326,879 $ 140,091 $ 1,527 - (340,176) 128,321 134,581 2015 Unavailable 39,537,035 34,504,948 332,500 142,500 350,596 149,287 1,192 - (500,424) 650 135,231 Projected 2016 1 Unavailable 39,537,035 34,504,948 279,000 186,000 - - - - - - 135,231 " 2017 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 " 2018 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2019 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2020 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2021 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2022 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2023 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2024 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2025 Unavailable 39,537,035 34,504,948 - - - - - - - 135,231 2,985,386 $ 964,125 $ Total Projected (2,298,433) $ (971,361) $ Less amount received through 2015 686,953 $ (7,236) $ Projected vs. Actual 1 The 2016 projection is based on the 2016 adopted budget. Cash Balance Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Projected Haircut Increment Tax Increment Fiscal Year OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Lincoln June 30, 2015 Haircut Increment Other Cash Inflows Debt Repayment Other Cash Outflows Net Change ---PAGE BREAK--- Page 3 of 5 LINCOLN - 3160 Change in Equity 147,163 $ Property Taxes Cash (143) $ 62,922 $ Property Taxes - Haircut Investment (185 23rd) 255,244 $ - $ Interest A/R 190,354 $ 210,085 $ Assets 445,455 $ Deferred Rev 190,354 $ 3,356 $ Operating expenses Equity 255,101 $ 62,922 $ Haircut to Rec Center Liabilities & Equity 445,455 $ (789) $ Debt Service - Interest 144,596 $ Interfund Transfer - Admin 210,085 $ - $ Rev - Exp Beg Equity 255,101 $ - $ Record of Note Payable End Equity 255,101 $ - $ Change in Equity Change in Equity - $ 141,810 $ Property Taxes Cash 5,409 $ 60,713 $ Property Taxes - Haircut Investment (185 23rd) 20 $ 2,002 $ Interest A/R 183,385 $ - $ Miscellaneous Revenue Assets 188,814 $ 204,526 $ Deferred Rev 183,385 $ 36,295 $ Operating expenses Equity 5,429 $ 80,713 $ Haircut to Rec Center Liabilities & Equity 188,814 $ 244,000 $ Construction Transer to BDO - $ Debt Service - Interest 11,690 $ Property for Resale 81,500 $ Interfund Transfer - Admin 454,197 $ (249,672) $ Rev - Exp Beg Equity 255,101 $ Record of Note Payable End Equity 5,429 $ (249,672) $ Change in Equity Change in Equity (249,672) $ 333,715 $ Property Taxes Cash 227,409 $ 142,817 $ Property Taxes - Haircut Investment (185 23rd) 20 $ 2,857 $ Interest A/R 430,040 $ - $ Miscellaneous Revenue Assets 657,470 $ 479,390 $ Accounts Payable 221,169 $ 223,664 $ Operating expenses Deferred Rev 430,040 $ 142,817 $ Haircut to Rec Center Equity 6,260 $ - $ Construction Transer to BDO Liabilities & Equity 657,470 $ - $ Debt Service - Interest 112,078 $ Interfund Transfer - Admin 478,559 $ 831 $ Rev - Exp Beg Equity 5,429 $ Record of Note Payable End Equity 6,260 $ 831 $ Change in Equity Change in Equity 831 $ Expenditure Revenue Expenditure Balance Sheet 2013 Revenue 2013 Balance Sheet 2011 Revenue Expenditure 2011 Balance Sheet 2012 2012 July 1 through June 30 RDA CASHFLOW - LINCOLN ---PAGE BREAK--- Page 4 of 5 326,879 $ Property Taxes Cash 134,581 $ 140,091 $ Property Taxes - Haircut Investment (185 23rd) - $ 1,527 $ Interest A/R 421,708 $ - $ Miscellaneous Revenue Assets 556,289 $ 468,497 $ Expenditure Accounts Payable - $ 85 $ Operating expenses Deferred Rev 421,708 $ 190,091 $ Haircut to Rec Center Equity 134,581 $ - $ Construction Transer to BDO Liabilities & Equity 556,290 $ - $ Debt Service - Interest 150,000 $ Interfund Transfer - Admin 340,176 $ 128,321 $ Rev - Exp Beg Equity 6,260 $ Record of Note Payable End Equity 134,581 $ 128,321 $ Change in Equity Change in Equity 128,321 $ 2014 Revenue 2014 Balance Sheet RDA CASHFLOW - LINCOLN ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3160-2-11400-R PROPERTY TAX - TAX INCREMENT (350,595.82) (326,879.23) (333,715.36) (141,810.44) (147,163.52) (128,937.78) (121,167.45) (130,758.35) (163,506.15) (156,749.85) (159,849.68) (45,153.33) (34,700.85) (24,755.84) (35,913.22) (22,053.68) (11,844.76) 3160-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (149,286.51) (140,091.08) (142,817.13) (60,713.34) (62,921.57) (55,204.65) (52,139.45) (43,586.13) (54,276.68) (92,814.27) (80,367.53) 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-61000-R INTEREST INCOME (1,192.25) (1,526.67) (2,857.41) (2,001.77) 0.06 0.00 (4,700.85) (1,897.18) (5,972.84) (7,148.38) (7,082.11) (4,576.99) (2,392.48) (2,441.77) (2,299.07) (2,798.18) (2,444.06) 3160-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (255,224.13) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-84000-R REVNUE FROM OTHER DISTRICTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (501,074.58) (468,496.98) (479,389.90) (204,525.55) (210,085.03) (184,142.43) (178,007.75) (431,465.79) (223,755.67) (256,712.50) (247,299.32) (49,730.32) (37,093.33) (27,197.61) (38,212.29) (24,851.86) (14,288.82) EXPENDITURES 3160-2-07-550801-14408-E PROPERTY PURCHASED FOR RESALE 0.00 0.00 0.00 11,689.89 0.00 0.00 0.00 (20.00) 3160-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-07-550801-14600-E OPERATING EXPENSES 278,924.16 85.00 223,664.39 36,294.60 3,355.52 8,763.56 145.59 0.00 0.00 86.24 139.90 3,144.88 1,952.92 1,647.29 1,600.00 7,545.04 0.00 3160-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 0.00 140,091.00 142,817.00 80,713.00 62,922.00 55,243.00 52,139.00 43,586.00 54,446.00 92,814.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 0.00 50,000.00 0.00 0.00 0.00 15,826.00 139,500.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 37,708.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-07-550801-52001-E CONSTRUCTION TRANSFER TO BDO 0.00 0.00 0.00 244,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 (789.42) 0.30 0.00 939.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,642.85 3160-2-09-550802-41000-E INTERFUND TRANSFERS - OPERATING 221,500.00 150,000.00 112,078.00 81,500.00 144,596.00 105,500.00 120,000.00 0.00 176,000.00 163,800.00 195,000.00 179,150.00 0.00 25,551.00 0.00 0.00 0.00 500,424.16 340,176.00 478,559.39 454,197.49 210,084.10 185,332.86 311,784.59 44,505.53 230,446.00 256,700.51 246,847.90 182,294.88 1,952.92 27,198.29 1,600.00 7,545.04 1,642.85 Net Change in Fund Balance (gain) loss (650.42) (128,320.98) (830.51) 249,671.94 (0.93) 1,190.43 133,776.84 (386,960.26) 6,690.33 (11.99) (451.42) 132,564.56 (35,140.41) 0.68 (36,612.29) (17,306.82) (12,645.97) Beginning Fund Balance (134,581.01) (6,260.03) (5,429.52) (255,101.46) (255,100.53) (256,290.96) (390,067.80) (3,107.54) (9,797.87) (9,785.88) (9,334.46) (141,899.02) (106,758.61) (106,759.29) (70,147.00) (52,840.18) (40,194.21) Ending Fund Balance (135,231.43) (134,581.01) (6,260.03) (5,429.52) (255,101.46) (255,100.53) (256,290.96) (390,067.80) (3,107.54) (9,797.87) (9,785.88) (9,334.46) (141,899.02) (106,758.61) (106,759.29) (70,147.00) (52,840.18) BALANCE SHEET 3160-2-11100-B CASH IN BANK 135,231.43 134,581.01 227,409.25 5,409.52 (142.67) (143.60) 1,046.83 134,823.67 3,107.54 9,840.99 9,785.88 9,334.46 141,899.02 106,758.61 107,159.29 69,726.92 52,822.68 3160-2-12201-B INVESTMENTS 0.00 0.00 20.00 20.00 255,244.13 255,244.13 255,244.13 255,244.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-13600-B TAXES RECEIVABLE 452,117.22 421,708.40 430,040.47 183,384.90 190,353.69 166,787.44 156,008.90 155,008.71 193,707.90 202,595.34 200,397.72 19,612.48 2,613.05 3,341.67 0.00 420.08 17.50 3160-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 (221,169.22) 0.00 0.00 0.00 0.00 0.00 0.00 (43.12) 0.00 0.00 0.00 0.00 (400.00) 0.00 0.00 3160-2-24004-B DEFERRED REVENUE TAXES (452,117.22) (421,708.40) (430,040.47) (183,384.90) (190,353.69) (166,787.44) (156,008.90) (155,008.71) (193,707.90) (202,595.34) (200,397.72) (19,612.48) (2,613.05) (3,341.67) 0.00 0.00 0.00 3160-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3160-2-34000-B FUND BALANCE RESV DEBT SERVICE (135,231.43) (134,581.01) (6,260.03) (5,429.52) (255,101.46) (255,100.53) (256,290.96) (390,067.80) (3,107.54) (9,797.87) (9,785.88) (9,334.46) (141,899.02) (106,758.61) (106,759.29) (70,147.00) (52,840.18) 3160-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (15,500.00) 0.00 3160-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,500.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 (0.00) 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Hinckley Airport Project - $ - $ 2,343,712 $ 2,343,712 $ None TIFF 2021 None 105,353 $ Tax Increment is available in the following manner: 100% 2005-2009 80% 2010-2014 75% 2015-2019 70% 2020-2021 The remaining precentage is to be distributed to the taxing entities ---PAGE BREAK--- Hinckley Airport OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Hinckley Airport Project June 30, 2015 Inputs & Assumptions Base year: 1989 Tax Year Expiration: 2021 Original tax base: 82,506 $ Anticipated tax base increment: - $ Year tax increment Available to RDA 2006 Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ 1989 82,506 $ 82,506 $ - $ - $ - $ - $ - $ - $ - $ 2006 4,736,407 4,736,407 5,143,872 150,000 87,595 2,206 - 89,801 89,801 2007 4,736,407 5,093,069 5,254,213 87,595 89,474 5,036 (182,147) (87,637) 2,164 2008 A 13,364,407 6,151,946 5,952,140 89,474 101,359 1,239 (80,096) 22,502 24,666 2009 13,364,407 13,166,111 12,560,397 101,359 213,891 1,367 (204,379) 10,879 35,545 2010 13,364,407 13,269,631 12,666,686 213,891 215,701 536 (216,236) 1 35,546 2011 13,364,407 11,474,724 11,255,799 215,701 191,675 1,029 (190,000) 2,704 38,250 2012 13,364,407 11,454,022 11,144,095 191,675 192,882 568 (121,964) 71,486 109,736 2013 13,364,407 11,447,367 8,962,430 265,000 163,600 1,365 (164,887) 78 109,814 2014 13,364,407 11,319,075 8,962,430 265,000 158,139 1,104 (159,699) (456) 269,057 2015 13,364,407 11,348,287 8,962,430 175,000 162,172 1,408 (161,990) 1,590 110,948 Projected 2016 1 13,364,407 11,348,287 8,402,278 160,000 - - - 160,000 110,948 " 2017 13,364,407 11,348,287 8,402,278 160,000 - - - 160,000 110,948 " 2018 13,364,407 11,348,287 8,402,278 160,000 - - - 160,000 110,948 " 2019 13,364,407 11,348,287 8,402,278 160,000 - - - 160,000 110,948 " 2020 13,364,407 11,348,287 7,842,123 149,333 - - - 149,333 110,948 " 2021 13,364,407 11,348,287 7,842,123 149,333 - - - 149,333 110,948 " 2022 13,364,407 11,348,287 7,842,123 149,333 - - - 149,333 110,948 2,693,362 $ Total Projected (1,576,488) $ Less amount received through 2015 1,116,874 $ Projected vs. Actual A The increase is the estimated amount added for the completion of the Adams Aircraft Building and parking and is based on the filed building permit values. 1 The 2016 projection is based on the 2016 adopted budget Fiscal Year Other Cash Outflows Net Change Cash Balance Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Tax Increment Other Cash Inflows ---PAGE BREAK--- Page 3 of 5 HINCKLEY AIRPORT - 3330 Change in Equity 191,675 $ Property Taxes Cash 38,250 $ 1,029 $ Interest Income A/R 170,426 $ - $ Misc Revenue Assets 208,676 $ 192,704 $ Deferred Rev 170,426 $ Equity 38,250 $ 190,000 $ Paid accrued tax increment to Kemp Dev. Liabilities & Equity 208,676 $ - $ Debt Service - Principal Beg Equity 35,546 $ 190,000 $ End Equity 38,250 $ Change in Equity 2,704 $ 2,704 $ Rev - Exp - $ Record of Note Payable 2,704 $ Change in Equity 192,882 $ Property Taxes Cash 109,736 $ 568 $ Interest Income A/R 174,430 $ - $ Misc Revenue Assets 284,166 $ 193,450 $ Deferred Rev 174,430 $ Equity 109,736 $ 121,964 $ Paid accrued tax increment to Kemp Dev. Liabilities & Equity 284,166 $ Debt Service - Principal Beg Equity 38,250 $ 121,964 $ End Equity 109,736 $ Change in Equity 71,486 $ 71,486 $ Rev - Exp Record of Note Payable 71,486 $ Change in Equity 163,600 $ Property Taxes Cash 109,814 $ 1,365 $ Interest Income A/R 145,829 $ - $ Misc Revenue Assets 255,642 $ 164,965 $ Deferred Rev 145,829 $ Equity 109,813 $ 164,887 $ Paid accrued tax increment to Kemp Dev. Liabilities & Equity 255,642 $ - $ Debt Service - Principal Beg Equity 109,736 $ 164,887 $ End Equity 109,813 $ Change in Equity 78 $ 78 $ Rev - Exp Record of Note Payable 78 $ Change in Equity 2012 2013 Revenue Balance Sheet 2013 Expenditure Revenue 2012 Balance Sheet Expenditure 2011 July 1 through June 30 Revenue 2011 Balance Sheet Expenditure RDA CASHFLOW - HINCKLEY AIRPORT ---PAGE BREAK--- Page 4 of 5 158,139 $ Property Taxes Cash 269,057 $ 1,104 $ Interest Income A/R 142,694 $ - $ Misc Revenue Assets 411,751 $ 159,243 $ Accounts Payable 159,699 $ Deferred Rev 142,694 $ 159,699 $ Paid accrued tax increment to Kemp Dev. Equity 109,356 $ - $ Debt Service - Principal Liabilities & Equity 411,751 $ 159,699 $ Beg Equity 109,813 $ End Equity 109,356 $ (456) $ Rev - Exp Change in Equity (456) $ Record of Note Payable (456) $ Change in Equity Expenditure 2014 Revenue 2014 Balance Sheet RDA CASHFLOW - HINCKLEY AIRPORT ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 REVENUE 3330-2-11400-R PROPERTY TAX - TAX INCREMENT (162,171.59) (158,138.94) (163,600.19) (192,882.07) (191,675.08) (215,700.51) (213,891.64) (101,358.77) (89,474.01) (87,594.53) 3330-2-61000-R INTEREST INCOME (1,407.62) (1,104.29) (1,364.58) (568.20) (1,028.93) (535.84) (1,367.90) (1,238.74) (5,036.25) (2,206.35) 3330-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (163,579.21) (159,243.23) (164,964.77) (193,450.27) (192,704.01) (216,236.35) (215,259.54) (102,597.51) (94,510.26) (89,800.88) EXPENDITURES 3330-2-07-550801-13410-E CONTRACTUAL SERVICES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-07-550801-14601-E OPERATING EXPENSES 161,989.50 159,699.16 164,887.00 121,964.00 190,000.00 211,886.12 0.00 80,096.00 182,147.00 0.00 3330-2-08-550802-22100-E DEBT SERVICE PRINCIPAL 0.00 0.00 0.00 0.00 0.00 (20.00) 204,379.00 0.00 0.14 0.00 3330-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-09-550802-41000-E INTERFUND TRANSFERS 0.00 0.00 0.00 0.00 0.00 4,370.00 0.00 0.00 0.00 0.00 161,989.50 159,699.16 164,887.00 121,964.00 190,000.00 216,236.12 204,379.00 80,096.00 182,147.14 0.00 Net Change in Fund Balance (gain) loss (1,589.71) 455.93 (77.77) (71,486.27) (2,704.01) (0.23) (10,880.54) (22,501.51) 87,636.88 (89,800.88) Beginning Fund Balance (109,358.40) (109,814.33) (109,736.56) (38,250.29) (35,546.28) (35,546.05) (24,665.51) (2,164.00) (89,800.88) 0.00 Ending Fund Balance (110,948.11) (109,358.40) (109,814.33) (109,736.56) (38,250.29) (35,546.28) (35,546.05) (24,665.51) (2,164.00) (89,800.88) BALANCE SHEET 3330-2-11100-B CASH IN BANK 110,947.51 269,056.96 109,813.73 109,735.96 38,250.29 35,546.28 35,546.05 24,665.51 2,164.00 89,800.88 3330-2-13600-B TAXES RECEIVABLE 146,616.10 142,694.37 145,828.67 174,430.03 170,426.35 192,450.74 193,674.51 22,540.60 79,945.85 79,249.00 3330-2-21100-B ACCOUNTS PAYABLE 0.00 (159,699.16) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-24004-B DEFERRED REVENUE TAXES (146,616.10) (142,694.37) (145,828.67) (174,430.03) (170,426.35) (192,450.74) (193,674.51) (22,540.60) (79,945.85) (79,249.00) 3330-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-34000-B FUND BALANCE RESV DEBT SERVICE (110,947.51) (109,357.80) (109,813.73) (109,735.96) (38,250.29) (35,546.28) (35,546.05) (24,665.51) (2,164.00) (89,800.88) 3330-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3330-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.60 0.60 0.60 0.60 0.00 0.00 0.00 0.00 (0.00) 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Fairmount District 1,075,000 $ - $ 100% - $ 1992 TIFF 2017/2024 2018 Total Projected 12,150,000 $ ---PAGE BREAK--- Fairmount OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Fairmount District June 30, 2015 Inputs & Assumptions Base year: 1992 Tax Year Expiration: 2024 (recreation center purposes 2018 -2024) Original tax base: 2,558,959 $ Anticipated tax base increment: 45,000,000 $ Year tax increment Available to RDA 1993 Tax rate: 0.17456% Anticipated annual rents / positive cash flow: - $ Debt balance at June 30, 2015: 1,075,000 $ Anticipated future debt / negative cash flows: - $ Actual Actual Tax Haircut Debt Increment Increment Other Cash Interfund Principal & Other Cash Net Cash (Current Value) (Current Value) Inflows Transfer Interest Outflows Change Balance BASE Unavailable 2,558,959 $ (223,132) $ 1999 Unavailable 5,988,727 $ - $ 5,988,727 $ - $ 10,044 $ 448,404 $ (1,465) $ (446,800) $ - $ 139 $ (222,993) 2000 Unavailable 36,235,787 - 36,235,787 $ - $ 481,674 485,496 10,988 (273,000) - 223,[PHONE REDACTED] Unavailable 50,197,619 - 50,197,619 $ - $ 541,934 550,481 3,500 (510,000) - 43,982 45,171 2002 Unavailable 48,621,462 - 48,621,462 $ - $ 500,000 492,632 10,112 (502,744) - 45,170 2003 Unavailable 45,417,456 - 45,417,456 $ - $ 555,673 550,569 10,217 (550,500) - 10,286 55,456 2004 Unavailable 44,474,829 - 44,474,829 $ - $ 540,434 546,825 6,293 (257,600) (342,400) (46,882) 8,574 2005 Unavailable 42,113,783 - 42,113,783 $ - $ 305,059 100,000 305,059 199,100 14,192 (141,000) (428,732) (51,380) (42,806) 2006 Unavailable 47,514,350 - 47,514,350 $ - $ 428,226 293,225 428,226 285,484 15,152 (400,000) (285,484) 43,[PHONE REDACTED] Unavailable 47,514,350 - 47,514,350 $ - $ 356,005 147,500 454,519 150,965 3,316,028 (465,000) (219,212) 3,237,300 5,713 2008 Unavailable 52,696,516 30,876,280 83,572,796 $ 81,013,837 $ 742,000 175,000 552,123 184,041 544,243 (375,000) (645,543) (3,246,042) (2,986,178) 1,168 2009 Unavailable 54,652,548 - 78,975,115 $ 76,416,156 $ 742,000 200,000 499,741 215,036 508,380 (300,000) (698,638) (374,461) (149,942) 62,417 2010 Unavailable 69,649,746 - 78,975,115 $ 76,416,156 $ 742,000 292,500 652,657 279,439 160,617 (290,000) (381,500) (519,531) (98,318) (123) 2011 Unavailable 72,648,422 - 78,975,115 $ 76,416,156 $ 742,000 274,925 864,230 301,298 2,661 (176,342) (382,813) (447,966) 161,068 (123) 2012 Unavailable 75,891,011 - 72,648,422 $ 70,089,463 $ 742,000 290,000 892,938 325,297 2,345 (242,992) (378,769) (600,297) (1,478) 20,479 2013 Unavailable 74,601,877 - 72,648,422 $ 70,089,463 $ 945,000 305,000 892,557 331,927 4,732 (282,691) (376,741) (569,025) 759 35,318 2014 Unavailable 80,137,517 - 72,648,422 $ 70,089,463 $ 1,050,000 450,000 900,365 385,870 3,431 (350,000) (323,368) (614,047) 2,251 60,760 2015 Unavailable 86,128,840 - 72,648,422 $ 70,089,463 $ 857,500 367,500 873,254 371,780 70,658 (443,000) (322,563) (548,975) 1,154 153,329 Projected 2016 1 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ 717,000 478,000 - - - - 153,329 " 2017 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2018 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2019 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2020 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2021 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2022 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2023 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2024 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 " 2025 Unavailable 86,128,840 - 72,648,422 $ 76,416,156 $ - - - - - - 153,329 10,998,549 $ 3,373,650 B Total Projected (9,516,822) $ (3,030,238) Less amount received through 2014 1,481,727 $ 343,412 Projected vs. Actual Committed to pay on bonds to prep the US FOODS site (914,967) $ 566,760 $ Additional commitment to US FOODS (Total $3,574,990) (480,515) $ A Committed to cover bond payments for site improvements at US FOODS site. 86,245 $ B Committed to debt service on the recreation center. 1 The 2016 Projection is based on the 2016 adopted budget. Fiscal Year Projected Haircut Increment Original TEC Increment Budget Actual County Assessed Property Values US FOODS PROJECT ADDITION Projected County Assessed Property Values Projected County Increment Value Projected Tax Increment ---PAGE BREAK--- Page 3 of 5 FAIRMOUNT - 3130 Change in Equity 864,230 $ Property Taxes Cash (123) $ 301,298 $ Property Taxes - Haircut Investments 88 $ 2,661 $ Interest A/R 1,070,748 $ 1,168,189 $ Assets 1,070,713 $ Deferred Rev 911,211 $ 447,966 $ Haircut to Rec Center Bonded Debt 1,835,000 $ 240,000 $ Debt Service Equity (1,675,498) $ 142,813 $ Debt Service - Interest Liabilities & Equity 1,070,713 $ 1,500 $ Annual Trustee fee 176,342 $ Interfund Transfer - Admin 1,008,621 $ Beg Equity (66) $ End Equity 159,502 $ 159,568 $ Rev - Exp Change in Equity 159,568 $ - $ Record of Note Payable 159,568 $ Change in Equity 892,938 $ Property Taxes Cash 20,479 $ 325,297 $ Property Taxes - Haircut Investments 135 $ 2,345 $ Interest A/R 1,119,043 $ 1,220,580 $ Assets 1,139,657 $ Deferred Rev 985,888 $ 600,297 $ Haircut to Rec Center Bonded Debt 1,580,000 $ 255,000 $ Debt Service Equity (1,426,231) $ 123,769 $ Debt Service - Interest Liabilities & Equity 1,139,657 $ 4,255 $ Annual Trustee fee 242,992 $ Interfund Transfer - Admin 1,226,313 $ Beg Equity 159,502 $ End Equity 153,769 $ (5,733) $ Rev - Exp Change in Equity (5,733) $ Record of Note Payable (5,733) $ Change in Equity 892,557 $ Property Taxes Cash 35,318 $ 331,927 $ Property Taxes - Haircut Investments 57 $ 4,732 $ Interest A/R 1,111,317 $ 1,229,217 $ Assets 1,146,692 $ Deferred Rev 994,414 $ 569,025 $ Haircut to Rec Center Bonded Debt 1,310,000 $ 270,000 $ Debt Service Equity (1,157,722) $ 106,741 $ Debt Service - Interest Liabilities & Equity 1,146,692 $ 2,250 $ Annual Trustee fee 282,691 $ Interfund Transfer - Admin 1,230,707 $ Beg Equity 153,769 $ End Equity 152,278 $ (1,491) $ Rev - Exp Change in Equity (1,491) $ Record of Note Payable (1,491) $ Change in Equity Balance Sheet Expenditure July 1 through June 30 2013 Revenue 2013 2012 Revenue 2012 Balance Sheet Expenditure 2011 Revenue 2011 Balance Sheet Expenditure RDA CASHFLOW - FAIRMOUNT ---PAGE BREAK--- Page 4 of 5 900,365 $ Property Taxes Cash 60,760 $ 385,870 $ Property Taxes - Haircut Investments 41 $ 3,431 $ Interest A/R 1,171,131 $ 1,289,665 $ Assets 1,231,932 $ Deferred Rev 1,079,653 $ 549,942 $ Haircut to Rec Center Bonded Debt 1,075,000 $ 235,000 $ Debt Service Equity (922,722) $ 88,368 $ Debt Service - Interest Liabilities & Equity 1,231,932 $ 2,250 $ Annual Trustee fee 64,105 $ Operating Expenses 350,000 $ Interfund Transfer - Admin Beg Equity 152,278 $ 1,289,665 $ End Equity 152,278 $ Change in Equity 1 $ 1 $ Rev - Exp Record of Note Payable 1 $ Change in Equity 873,254 $ Property Taxes Cash 153,329 $ 371,780 $ Property Taxes - Haircut Investments 41 $ 3,111 $ Interest A/R 1,123,214 $ 67,547 $ Miscellaneous Rev. Assets 1,276,585 $ 1,315,692 $ Deferred Rev 1,123,152 $ Bonded Debt 825,000 $ 548,975 $ Haircut to Rec Center Equity (671,568) $ 250,000 $ Debt Service Liabilities & Equity 1,276,585 $ 2015 2015 Revenue Balance Sheet Expenditure Expenditure 2014 Revenue 2014 Balance Sheet RDA CASHFLOW - FAIRMOUNT ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3130-2-11400-R PROPERTY TAX - TAX INCREMENT (873,253.92) (900,364.52) (892,557.33) (892,937.99) (864,229.91) (652,657.43) (499,740.64) (552,122.75) (454,518.64) (428,226.02) (305,059.49) (546,825.31) (550,569.04) (492,631.57) (550,481.46) (485,495.76) (448,404.48) 3130-2-11410-R PROPERTY TAX - HAIRCUT - TAX INC (371,779.53) (385,870.27) (331,927.22) (325,296.89) (301,297.83) (279,439.42) (215,036.25) (184,040.91) (150,965.45) (285,484.02) (199,099.91) 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-61000-R INTEREST INCOME (3,111.31) (3,430.67) (4,732.01) (2,345.35) (2,660.42) (1,643.83) (8,434.09) (44,243.23) (16,027.99) (15,151.54) (14,192.44) (6,292.85) (10,216.69) (10,111.74) (3,500.34) (10,987.66) 1,465.09 3130-2-72000-R MISCELLANEOUS INCOME (67,547.08) 0.00 0.00 0.00 0.00 (158,973.20) (500,000.00) (500,000.00) (3,300,000.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,315,691.84) (1,289,665.46) (1,229,216.56) (1,092,713.88) (1,223,210.98) (3,921,512.08) (728,861.58) (518,351.84) (553,118.16) (560,785.73) (502,743.31) (553,981.80) (496,483.42) (446,939.39) EXPENDITURES 3130-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-07-550801-14601 OPERATING EXPENSES 0.00 64,105.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-07-550801-14611-E HAIRCUT ALLOCATION TO TREE HOUSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 55,000.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-07-550801-14612-E HAIRCUT ALLOCATION TO REC CENTER 373,525.00 385,870.00 331,927.00 600,297.00 447,966.00 279,629.00 215,036.00 376,041.00 151,371.00 285,484.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-07-550801-14613-E ADD'L ALLOCATION TO REC CENTER 175,450.00 164,072.00 237,098.00 0.00 0.00 239,902.00 159,425.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-07-550801-14615-E HAIRCUT TO RESERVED FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69,437.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-07-550801-31000-E CAPITAL OUTLAY - LAND 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,870,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-08-550802-22101-E DEBT SERVICE - PRINCIPAL 250,000.00 235,000.00 270,000.00 255,000.00 240,000.00 225,000.00 500,000.00 500,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-08-550802-22202-E DEBT SERVICE - INTEREST 72,562.50 90,617.92 108,991.45 128,024.34 144,312.50 160,000.00 198,692.89 145,542.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-08-550802-22300-E BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 67,840.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-09-550802-41000-E INTERFUND TRANSFERS 443,000.00 350,000.00 282,691.00 242,992.00 176,342.00 290,000.00 300,000.00 375,000.00 465,000.00 400,000.00 445,295.00 600,000.00 550,500.00 502,744.00 510,000.00 273,000.00 446,800.00 1,314,537.50 1,289,664.92 1,230,707.45 1,226,313.34 1,008,620.50 1,194,531.00 1,373,153.89 4,266,583.89 684,211.77 685,484.02 569,732.00 600,000.00 550,500.00 502,744.00 510,000.00 273,000.00 446,800.00 Net Change in Fund Balance (gain) loss (1,154.34) (0.54) 1,490.89 5,733.11 (159,567.66) 101,817.12 149,942.91 2,986,177.00 (3,237,300.31) (43,377.56) 51,380.16 46,881.84 (10,285.73) 0.69 (43,981.80) (223,483.42) (139.39) Beginning Fund Balance (152,278.90) (152,278.36) (153,769.25) (159,502.36) 65.30 (101,751.82) (251,694.73) (571.42) 42,806.14 (8,574.02) (55,455.86) (45,170.13) (45,170.82) (1,189.02) 222,294.40 222,433.79 Ending Fund Balance (153,433.24) (152,278.90) (152,278.36) (153,769.25) (159,502.36) 65.30 (101,751.82) (251,694.73) (3,237,871.73) (571.42) 42,806.14 (8,574.02) (55,455.86) (45,170.13) (45,170.82) (1,189.02) 222,294.40 BALANCE SHEET 3130-2-11100-B CASH IN BANK 153,329.47 60,760.44 35,318.14 20,479.25 (123.02) (122.72) 62,416.81 1,167.97 5,712.50 571.42 (42,806.14) 8,574.02 55,455.86 45,170.13 45,170.82 798.76 (222,992.96) 3130-2-12200-B INVESTMENTS 41.32 40.53 56.94 135.00 88.38 57.42 39,335.01 250,526.76 3,232,159.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-13100-B ACCOUNTS RECEIVABLE 62.45 91,477.93 116,903.28 133,155.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-13200-B ACCRUED REVENUE RECEIVABLES 0.00 0.00 0.00 0.00 159,537.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-13600-B TAXES RECEIVABLE 1,123,151.80 1,079,653.47 994,413.70 985,888.21 911,210.64 845,677.93 643,477.43 656,912.00 529,414.50 640,863.28 452,992.78 491,844.08 390,484.87 499,367.06 0.00 390.26 698.56 3130-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-24004-B DEFERRED REVENUE TAXES (1,123,151.80) (1,079,653.47) (994,413.70) (985,888.21) (911,210.64) (845,677.93) (643,477.43) (656,912.00) (529,414.50) (640,863.28) (452,992.78) (491,844.08) (390,484.87) (499,367.06) 0.00 0.00 0.00 3130-2-31000-B REVENUE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-32000-B EXPENDITURE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-33001-B RES FOR CURRENT YR ENCUMB 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3130-2-34000-B FUND BALANCE RESV DEBT SERVICE (153,433.24) (152,278.90) (152,278.36) (153,769.25) (159,502.36) 65.30 (101,751.82) (251,694.73) (3,237,871.73) (571.42) 42,806.14 (8,574.02) (55,455.86) (45,170.13) (45,170.82) (1,189.02) 222,294.40 3130-2-39100-B APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (536,000.00) 0.00 3130-2-39200-B ESTIMATED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 536,000.00 0.00 3130-2-39300-B BUDGETARY FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated AMERICAN CAN (ENTIRE PROJ) 2,100,000 $ - $ 12,918,648 $ 12,918,648 $ 2003/2004 TIFF 2017 2026 (see below) (see below) E 841,136 $ (see below) AMERICAN CAN (BUILDING) - $ - $ - $ - $ 2004 N/A 2017 N/A A 22 - $ - $ AMERICAN CAN (PARKING) 2,100,000 $ - $ 4,100,000 $ 4,100,000 $ 2004 TIFF 2017 2026 0 - $ - $ AMERICAN CAN (IRS) - $ - $ - $ - $ N/A N/A 2017 N/A B 800 - $ - $ AMERICAN CAN (CAFÉ) - $ - $ - $ - $ N/A N/A 2017 N/A C 12 - $ - $ AMERICAN CAN (Temple housing) - $ - $ - $ - $ N/A N/A 2017 N/A D 3 - $ - $ 837 - $ - $ Bonded debt is part of a larger bond that was used to payoff various obligations of the City, one of which was the American Can Bridge loan. In the bond document the security pledged is the City's portion of BDO lease payment revenue. The Understanding of those involved was that Tax increment from the Mall and American Can Districts could be used to cover the debt payments. A Divinci Academy Staff B Approximately half (400) jobs at the IRS facility were brought into the City from the surrounding area. Approximately half (400) jobs at the IRS facility were relocated from other leases in the City. C Approximately 12 jobs created at the Café next to the IRS facility. D Colonial Court apartments has the equivalent of 3 full time positions to manage and maintain the facility. E This is the amount received to date. Under current assumptions the project will generate a total of $5,173,072 F This is referring to Sales Taxes generated by Companies that received direct assistance from the City. ---PAGE BREAK--- American Can OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - American Can June 30, 2015 Inputs & Assumptions Range (if applicable) Base year: 1999 Tax Year Expiration: 2017 Original tax base: 8,697,097 $ Anticipated tax base increment: 12,544,490 $ Year tax increment Available to RDA 2003 Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: 1,003,636 $ Anticipated future debt / negative cash flows: - $ Discount factor for net present value: 5% Inflation factor for rents and future cash flows: 1999 Unavailable 8,697,097 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2000 Unavailable 8,697,097 - - - - - - - - - - - - 2001 Unavailable 8,135,288 (561,809) - - - - - - 1,467,745 - (870,000) 597,745 600,616 2002 Unavailable 12,640,538 3,943,441 - - - - - - 1,158,034 - (875,266) 282,768 883,384 2003 Unavailable 14,323,016 5,625,919 489,832 - - - - 883,383 - 98,607 - (46,506) 52,101 935,485 2004 Unavailable 23,790,192 16,513,557 489,832 - - - - 935,485 266,149 948,179 - (1,143,556) 70,772 1,006,257 2005 Unavailable 24,595,592 16,376,602 905,455 44,000 - - - 1,006,257 268,347 20,260 (659,427) (71,859) (442,679) 563,578 2006 Unavailable 31,218,447 18,149,275 888,281 115,000 - - - 563,578 309,064 2,136,063 (2,155,067) (78,258) 211,802 775,380 2007 Unavailable 31,218,447 21,639,701 888,281 115,000 - - - 1,958,535 385,468 991,365 - (193,678) 1,183,155 1,958,535 2008 Unavailable 27,669,446 18,672,303 888,281 115,000 385,468 (356,765) (156,486) 3,013,907 310,315 87,354 - (361,324) (444,395) (408,050) 1,550,485 2009 Unavailable 32,447,184 25,539,605 888,281 115,000 310,315 (356,765) (298,015) 2,669,442 400,461 39,286 - (376,788) (291,405) (228,446) 1,322,039 2010 Unavailable 32,465,827 24,043,223 888,281 115,000 400,461 (356,765) (275,000) 2,438,138 389,380 11,198 - (357,000) (660,074) (616,496) 705,543 2011 Unavailable 37,601,302 28,000,994 888,281 115,000 389,380 (356,765) (275,000) 2,195,753 478,957 7,108 - (357,000) (225,236) (96,171) 609,372 2012 Unavailable 36,499,899 26,357,730 888,281 115,000 478,957 (356,765) (275,000) 2,042,945 481,134 6,960 - (357,000) (278,506) (147,412) 461,960 2013 Unavailable 35,381,854 27,101,403 888,281 115,000 550,000 (356,765) (275,000) 1,961,180 494,709 4,732 (250,000) (239,845) 9,595 471,556 2014 Unavailable 35,404,470 26,707,373 888,281 115,000 600,000 (356,765) (275,000) 1,929,415 466,532 3,774 (306,890) (163,408) 8 459,466 2015 Unavailable 36,504,776 27,807,679 888,281 115,000 500,000 (356,765) (275,000) 1,797,650 495,558 5,194 (198,000) (299,230) 3,522 490,368 Projected 2016 7 Unavailable 36,504,776 27,807,679 888,281 115,000 466,500 (356,765) (275,000) 1,632,385 - - - - - 490,368 " 2017 Unavailable 36,504,776 27,807,679 888,281 115,000 - (356,765) (275,000) 1,000,620 - - - - - 490,368 2018 Unavailable 36,504,776 27,807,679 888,281 115,000 - (356,765) (275,000) - - - - - 490,368 12,544,491 1,424,000 4,081,081 (3,567,650) (2,654,501) 368,855 4,746,073 $ ASSUMPTIONS: 1 County assessed property value is assumed to increase $888,281 per year from 2006-2017 for a total increase of $10.6 million. This increase assumes that generated tax increment is reinvested in the project area. PRI is expected to build another apartment complex within the development. (This amount was part of the original projection. ) 2 Assumed tax rate is the 2006 rate of 0.017813 for years 2007 to 2017 3 Tax increment for 2004 - 2006 represent actual amounts received Commitment Estimate 4 The RDA Board has committed by resolution: Housing 20% 1,765,431 $ Up to $3,325,380 to Ogden River Parkway (2003-5 / 2003-6) RDA Admin. 5% 441,358 $ American Can Developer (2004-3) - $ - $ American Can Development Sold the Property to AMCAN (Jon Peddie) Ogden City - Reimbursement for Parking Structure (2004-3) 4,100,000 $ 4,100,000 $ Agreed to but not legally committed. Excess commitment on Parking Structure (300,000) $ (532,350) $ The debt service schedule indicates the parking structure's prorated share of the Annual bond payments is approx. $3,567,650 over the next ten years. Proposed AMCAN Development Agreement (2007) 2,545,032 $ 2,545,032 $ Represents 75% of tax increment projected to be generated by AMCAN project 8,319,471 $ 5 The parking structure is not leased and is currently undergoing a rate study. There are 500 spaces, however, 150 of those are dedicated to Davinci at no charge. Thus, 350 spaces at a local rate of $30/month is a maximum of $126,000 per year. Assuming 50% occupancy the garage will generate $63,000 per year. Cost to operate a pay garage are estimated at $22 per stall which calculates to a range of $92,400 to $132,000, depending on the number of stalls considered (350 or 500). The above mentioned study is being performed to determine factors necessary for the garage to pay for itself, etc. 6 The AMCAN agreement requires that AMCAN be responsible for collection of all revenue and payment of all expenses, Whether or not the revenue is sufficient to cover the expenses. Amcan shall be entitled to retain an net income from the operation, management and maintenance of the Parking Facility up to twenty-five percent of gross revenue. The Amcan profit shall be calculated annually. 7 The 2016 projection is based on the 2016 adopted budget. Original Projected Parking Revenue Fiscal Year Cash Balance Current Projected Tax Increment Parking Structure Inflows Debt Repayment Other Cash Outflows Net Change Debt Repayment Other Projected Commitments Projected Net Cash After Debt Actual Tax Increment Other Cash Inflows Original TEC Increment Budget County Assessed Property Values Increment Value Original Projected Tax Increment ---PAGE BREAK--- Page 3 of 7 RDA - AMERICAN CAN PROJECT - 3270 Change in Equity July 1 - June 30 478,957 $ Property tax increment Cash 609,371 $ 7,108 $ Interest Investments - $ - $ Interfund transfer A/R 433,807 $ 486,065 $ Total revenue Assets 1,043,178 $ Expenditure AP - $ 357,000 $ Debt Service Deferred Rev 433,807 $ 61,375 $ Parking operating costs Debt 2,115,526 $ 65,968 $ Security Camera System Equity (1,506,154) $ 95,792 $ Interfund transfers - Housing Expenditure Control - $ 580,135 $ Total expense Liabilties & Equity 1,043,178 $ (94,070) $ Rev - Exp Beg Equity (1,769,084) $ 357,000 $ Record of Note Payable End Equity (1,506,154) $ 262,930 $ Change in Equity Change in Equity 262,930 $ 481,134 $ Property tax increment Cash 461,960 $ 6,960 $ Interest Investments - $ - $ Interfund transfer A/R 436,116 $ 488,094 $ Total revenue Assets 898,076 $ Expenditure AP 357,000 $ Debt Service Deferred Rev 436,116 $ 77,718 $ Parking operating costs Debt 1,758,526 $ 80,504 $ Security Camera System Equity (1,296,566) $ 24,057 $ Interfund transfers - Admin Liabilties & Equity 898,076 $ 96,227 $ Interfund transfers - Housing 635,506 $ Total expense (147,411) $ Rev - Exp Beg Equity (1,506,154) $ 357,000 $ Record of Note Payable End Equity (1,296,566) $ 209,589 $ Change in Equity Change in Equity 209,589 $ 494,709 $ Property tax increment Cash 446,821 $ 4,732 $ Interest Investments - $ - $ Interfund transfer A/R 442,231 $ 499,441 $ Total revenue Assets 889,052 $ Expenditure AP 250,000 $ Debt Service Deferred Rev 442,231 $ 70,272 $ Parking operating costs Debt 1,508,526 $ 70,630 $ Security Camera System Equity (1,061,704) $ 24,735 $ Interfund transfers - Admin Liabilties & Equity 889,052 $ 98,942 $ Interfund transfers - Housing 514,579 $ Total expense (15,139) $ Rev - Exp Beg Equity (1,296,566) $ 250,000 $ Record of Note Payable End Equity (1,061,704) $ 234,861 $ Change in Equity Change in Equity 234,861 $ 2013 Revenue 2011 Revenue 2011 Balance Sheet 2013 Balance Sheet 2012 Revenue 2012 Balance Sheet RDA CASHFLOW - AMERICAN CAN with Debt ---PAGE BREAK--- Page 4 of 7 466,532 $ Property tax increment Cash 459,466 $ 3,774 $ Interest Investments - $ - $ Interfund transfer A/R 420,776 $ 470,306 $ Total revenue Assets 880,242 $ Expenditure AP 12,637 $ 306,890 $ Debt Service Deferred Rev 420,776 $ 70,102 $ Parking operating costs Debt 1,201,636 $ - $ Security Camera System Equity (754,806) $ - $ Interfund transfers - Admin Liabilties & Equity 880,242 $ 93,306 $ Interfund transfers - Housing 470,298 $ Total expense 8 $ Rev - Exp Beg Equity (1,061,704) $ 306,890 $ Record of Note Payable End Equity (754,806) $ 306,898 $ Change in Equity Change in Equity 306,898 $ 2014 2014 Revenue Balance Sheet RDA CASHFLOW - AMERICAN CAN with Debt ---PAGE BREAK--- American Can Prorata Share of Mall Bonds 2005C1 &C2 (Now refunded as CBD 2009 B-1 and B-2 Refunding Total Debt Service American Can Portion 2005 C Bonds 2005 C Bond Debt Service 2006 469,069 0.0938 43,998.67 2007 1,233,568 0.0938 115,708.68 2008 1,856,083 0.0938 174,100.59 2009 1,864,668 0.0938 174,905.86 2010 1,870,637 0.0938 175,465.75 2011 1,874,266 0.0938 175,806.15 2012 1,880,210 0.0938 176,363.70 2013 1,883,400 0.0938 176,662.92 2014 1,888,634 0.0938 177,153.87 2015 1,890,970 0.0938 177,372.99 2016 1,900,005 0.0938 178,220.47 2017 1,905,323 0.0938 178,719.30 2018 1,911,992 0.0938 179,344.85 2019 1,919,738 0.0938 180,071.42 2020 1,928,147 0.0938 180,860.19 2021 1,937,082 0.0938 181,698.29 2022 1,946,129 0.0938 182,546.90 2023 1,950,220 0.0938 182,930.64 2024 1,964,010 0.0938 184,224.14 2025 1,976,811 0.0938 185,424.87 2026 1,983,555 0.0938 186,057.46 3,567,637.69 Annual commitment 356,763.77 thru life of District 10 years to 2017 Original Principal C1 & C2 22,400,000 $ 0.0938 2,101,120 $ American Can Portion of Principal 1,466,518 American Can Portion of Interest 3,567,638 $ American Can debt to CBD Mall History: When the RDA issued the CBD Mall District 2005 C1 and C2 bonds, the RDA refinanced the outstanding Ameri The bond issuance paid off the debt owed by American Can. For this reason, American Can is required to pay ---PAGE BREAK--- Bonds) can Can Short Term loan on the Parking Structure as part of the bonding. 9.375% of the CBD mall debt service on the mentioned bonds. ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 REVENUE American Can Prorata Share of Mall Bonds 2005C1 &C2 3270-2-11400-R PROPERTY TAX - TAX INCREMENT (495,557.58) (466,531.86) (494,709.01) (481,134.38) (478,956.55) (389,379.68) (400,460.85) (310,315.05) (385,467.63) (309,064.10) (268,346.98) (266,148.77) 0.00 0.00 0.00 3270-2-61000-R INTEREST INCOME (5,194.28) (3,774.40) (4,731.57) (6,959.94) (7,108.11) (11,198.20) (39,285.63) (87,354.44) (46,913.02) (29,238.51) (19,088.76) (30,285.46) (15,772.70) (16,302.82) 0.00 3270-2-71000-R SALE OF PROPERTY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (548,203.36) 0.00 2006 469,069 0.0938 43,998.67 3270-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (6,825.00) 0.00 (900,000.00) 0.00 0.00 0.00 2007 1,233,568 0.0938 115,708.68 3270-2-82000-R LOAN PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (597,745.12) 2008 1,856,083 0.0938 174,100.59 3270-2-82001-R BOND PROCEEDS - SERIES 2005C-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (2,100,000.00) 0.00 0.00 0.00 0.00 0.00 3270-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2009 1,864,668 0.0938 174,905.86 3270-2-84000-R INTERFUND TRANSFERS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (944,451.65) 0.00 0.00 0.00 0.00 0.00 0.00 (500,751.86) (470,306.26) (499,440.58) (488,094.32) (486,064.66) (400,577.88) (439,746.48) (397,669.49) (1,376,832.30) (2,445,127.61) (287,435.74) (1,196,434.23) (15,772.70) (564,506.18) (597,745.12) 2010 1,870,637 0.0938 175,465.75 2011 1,874,266 0.0938 175,806.15 EXPENDITURES 2012 1,880,210 0.0938 176,363.70 3270-2-07-550801-12210-E SMALL TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 43,614.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-07-550801-13108-E UTILITIES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 35,064.50 6,766.71 992.71 0.00 0.00 0.00 0.00 0.00 3270-2-07-550801-13410-E CONTRACTUAL SERVICES 145,687.63 0.00 70,629.65 80,503.87 65,968.10 72,066.60 73,699.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2013 1,883,400 0.0938 176,662.92 3270-2-07-550801-14601-E OPERATING EXPENSES 54,416.87 70,102.02 70,272.46 77,717.65 61,375.18 123,763.78 22,383.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-07-550801-33000-E CONSTRUCTION COSTS 0.00 0.00 0.00 0.00 0.00 58,000.00 71,617.32 331,660.58 89,707.51 0.00 0.00 0.00 0.00 0.00 0.00 2014 1,888,634 0.0938 177,153.87 3270-2-07-550801-33001-E CONSTRUCTION COSTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2015 1,890,970 0.0938 177,372.99 3270-2-07-550802-31000-E CAPITAL OUTLAY - LAND 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,171.15) 884,736.95 (39,199.65) 281,738.73 0.16 2016 1,900,005 0.0938 178,220.47 3270-2-07-550802-41000-E INTERFUND TRANSFERS - OPERATIN 297,125.00 93,306.00 123,677.00 120,284.00 452,792.00 765,345.00 376,788.00 77,579.00 20,199.40 77,266.00 71,859.00 240,925.00 0.00 0.00 0.00 2017 1,905,323 0.0938 178,719.30 3270-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 306,890.00 250,000.00 357,000.00 0.00 0.00 0.00 60,000.00 0.00 2,100,000.00 597,745.12 0.00 0.00 0.00 0.00 2018 1,911,992 0.0938 179,344.85 3270-2-08-550802-22101-E CONSTRUCTION DEBT REFINANCING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2019 1,919,738 0.0938 180,071.42 3270-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 301,324.21 0.00 55,066.67 61,681.51 0.00 0.00 0.00 0.00 2020 1,928,147 0.0938 180,860.19 3270-2-09-550802-41001-E HOUSING FUNDS TO RIVER PROJECT 0.00 0.00 0.00 0.00 0.00 0.00 80,092.00 0.00 77,094.00 0.00 0.00 0.00 0.00 0.00 0.00 497,229.50 470,298.02 514,579.11 635,505.52 580,135.28 1,019,175.38 668,193.84 805,628.29 193,767.62 2,233,325.38 730,114.48 1,125,661.95 (39,199.65) 281,738.73 0.16 2021 1,937,082 0.0938 181,698.29 2022 1,946,129 0.0938 182,546.90 Net Change in Fund Balance (gain) loss (3,522.36) (8.24) 15,138.53 147,411.20 94,070.62 618,597.50 228,447.36 407,958.80 (1,183,064.68) (211,802.23) 442,678.74 (70,772.28) (54,972.35) (282,767.45) (597,744.96) 2023 1,950,220 0.0938 182,930.64 2024 1,964,010 0.0938 184,224.14 Beginning Fund Balance (446,829.44) (446,821.20) (461,959.73) (609,370.93) (703,441.55) (1,322,039.05) (1,550,486.41) (1,958,445.21) (775,380.53) (563,578.30) (1,006,257.04) (935,484.76) (880,512.41) (597,744.96) 0.00 2025 1,976,811 0.0938 185,424.87 Ending Fund Balance (450,351.80) (446,829.44) (446,821.20) (461,959.73) (609,370.93) (703,441.55) (1,322,039.05) (1,550,486.41) (1,958,445.21) (775,380.53) (563,578.30) (1,006,257.04) (935,484.76) (880,512.41) (597,744.96) 2026 1,983,555 0.0938 186,057.46 3,567,637.69 BALANCE SHEET 3270-2-11100-B CASH IN BANK 490,343.11 459,441.40 446,796.20 461,934.73 609,345.93 705,517.71 1,322,014.05 1,550,461.41 1,958,510.05 775,692.08 563,553.30 1,006,257.04 935,484.76 883,383.47 600,616.02 Annual commitment 356,763.77 3270-2-11101-B CASH @ AMERICA FIRST C.U. 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 0.00 0.00 0.00 0.00 thru life of District 3270-2-12200-B RESTRICTED ASSETS-BOND INVESTM 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-13105-B NOTE RECEIVABLE - BLOOM 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-13601-B TAXES RECEIVABLE 447,073.14 420,775.53 442,231.24 436,116.08 433,806.63 347,977.47 339,480.38 276,113.63 343,685.26 280,524.35 232,814.92 238,200.18 0.00 0.00 0.00 3270-2-21100-B ACCOUNTS PAYABLE (40,016.31) (12,636.96) 0.00 0.00 0.00 (2,101.16) 0.00 0.00 (89.84) (336.55) 0.00 0.00 0.00 (2,871.06) (2,871.06) 3270-2-24004-B DEFERRED REVENUE TAXES (447,073.14) (420,775.53) (442,231.24) (436,116.08) (433,806.63) (347,977.47) (339,480.38) (276,113.63) (343,685.26) (280,524.35) (232,814.92) (238,200.18) 0.00 0.00 0.00 3270-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 25,213.92 25,213.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-34000-B FUND BALANCE RESV DEBT SERVICE (475,565.72) (472,043.36) (446,821.20) (461,959.73) (609,370.93) (703,441.55) (1,322,039.05) (1,550,486.41) (1,958,445.21) (775,380.53) (563,578.30) (1,006,257.04) (935,484.76) (880,512.41) (597,744.96) 3270-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3270-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 (0.00) 0.00 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Wall Ave (Union Square) 675,000 $ - $ - $ 754,315 $ 2002 TIFF 2020 2019 ---PAGE BREAK--- Wall Avenue OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Wall Avenue / Union Square Project June 30, 2015 Inputs & Assumptions Base year: 2002 Tax Year Expiration: 2018 Original tax base: 19,178,249 $ Anticipated tax base increment: - $ Year tax increment Available to RDA N/A Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: 285,000 $ 2002 Unavailable 19,178,249 $ - $ - $ - $ - $ - $ - $ - $ - $ 2003 Unavailable 19,178,249 - - - 662,305 (27,500) (524,274) 110,531 - 2004 Unavailable 19,178,249 - - 1,534 1,145 (69,917) (1,575) (68,813) (6,708) 2005 Unavailable 25,178,249 6,000,000 86,420 27,621 7,738 (16,261) (4,768) 14,330 6,500 2006 Unavailable 29,184,951 10,006,702 150,000 150,253 4,822 (25,531) (38,576) 90,968 95,410 2007 Unavailable 29,184,951 10,006,702 150,253 79,489 7,728 (84,337) (3,975) (1,095) 91,533 2008 Unavailable 29,250,775 10,072,526 79,489 178,343 9,008 (77,310) (8,917) 101,124 190,053 2009 Unavailable 31,050,147 11,871,898 178,343 187,009 6,772 (66,554) (54,371) 72,856 261,621 2010 Unavailable 29,743,066 10,564,817 187,009 165,094 2,686 (49,618) (117,406) 756 261,969 2011 Unavailable 28,577,578 9,399,329 165,094 154,250 2,767 (48,408) (104,436) 4,173 265,827 2012 Unavailable 28,322,947 9,144,698 154,250 157,025 1,655 (58,507) (39,811) 60,362 322,221 2013 Unavailable 27,294,527 8,116,278 240,000 144,683 3,012 (62,346) (29,772) 55,577 366,658 2014 Unavailable 25,659,789 6,481,540 240,000 113,966 2,603 (66,387) (41,246) 8,935 371,859 2015 Unavailable 26,941,178 7,762,929 160,000 136,371 2,255 (69,895) (37,700) 31,031 402,586 Projected 2016 1 Unavailable 26,941,178 7,762,929 125,000 - (69,132) - - 402,586 " 2017 Unavailable 26,941,178 7,762,929 - - (68,190) - - 402,586 " 2018 Unavailable 26,941,178 7,762,929 - - (77,247) - - 402,586 " 2019 Unavailable 26,941,178 7,762,929 - - (81,160) - - 402,586 Total Projected 1,915,858 $ (879,091) Less amount received through 2015 (1,495,638) $ Projected vs. Actual 420,220 $ 1 The 2016 projection is based on the 2016 adopted budget. Other Cash Inflows Fiscal Year Debt Repayment Other Cash Outflows Net Change Cash Balance Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Tax Increment ---PAGE BREAK--- Page 3 of 5 RDA - Wall Avenue - 3290 Change in Equity July 1 - June 30 154,250 $ Property Taxes Cash 265,827 $ 2,767 $ Interest Income Bond - Trust 59,003 $ - $ Misc Revenue Taxes Receivable 139,436 $ - $ Bond Proceeds Assets 464,266 $ 157,017 $ Deferred Rev 139,436 $ Debt 495,000 $ 873 $ Operating expenses Equity (170,170) $ 3,000 $ Annual Trust Fee Liabilties & Equity 464,266 $ 619 $ Annual Remarketing Fee 40,000 $ 25th & Wall Bonds 4,790 $ Debt Interest Beg Equity (214,343) $ 7,713 $ Interfund Transfer - Admin End Equity (170,170) $ 95,850 $ Interfund Transfer - Housing Change in Equity 44,173 $ 152,844 $ 4,173 $ Rev - Exp 40,000 $ Record of Note Payable 44,173 $ Change in Equity 157,025 $ Property Taxes Cash 322,221 $ 1,655 $ Interest Income Bond - Trust 59,408 $ - $ Misc Revenue Taxes Receivable 142,331 $ - $ Bond Proceeds Assets 523,960 $ 158,680 $ Deferred Rev 142,331 $ Debt 450,000 $ 555 $ Operating expenses Equity (68,371) $ 3,000 $ Annual Trust Fee Liabilties & Equity 523,960 $ 563 $ Annual Remarketing Fee 45,000 $ 25th & Wall Bonds 13,507 $ Debt Interest Beg Equity (170,170) $ 7,851 $ Interfund Transfer - Admin End Equity (68,371) $ 31,405 $ Interfund Transfer - Housing Change in Equity 101,799 $ 101,881 $ 56,799 $ Rev - Exp 45,000 $ Record of Note Payable 101,799 $ Change in Equity Revenue 2012 Balance Sheet Expenditure 2011 Revenue 2011 Balance Sheet Expenditure 2012 RDA CASHFLOW - WALL AVENUE ---PAGE BREAK--- Page 4 of 5 144,683 $ Property Taxes Cash 366,658 $ 3,012 $ Interest Income Bond - Trust 59,814 $ - $ Misc Revenue Taxes Receivable 128,475 $ - $ Bond Proceeds Assets 554,947 $ 147,695 $ Deferred Rev 128,475 $ Debt 400,000 $ 835 $ Operating expenses Equity 26,472 $ 3,000 $ Annual Trust Fee Liabilties & Equity 554,947 $ 500 $ Annual Remarketing Fee 50,000 $ 25th & Wall Bonds 12,346 $ Debt Interest Beg Equity (68,371) $ 7,234 $ Interfund Transfer - Admin End Equity 26,472 $ 28,937 $ Interfund Transfer - Housing Change in Equity 94,843 $ 102,852 $ 44,843 $ Rev - Exp 50,000 $ Record of Note Payable 94,843 $ Change in Equity 113,966 $ Property Taxes Cash 371,859 $ 2,603 $ Interest Income Bond - Trust 60,117 $ - $ Misc Revenue Taxes Receivable 101,680 $ - $ Bond Proceeds Assets 533,656 $ 116,569 $ Deferred Rev 101,680 $ Debt 345,000 $ 12,755 $ Operating expenses Equity 86,976 $ 3,000 $ Annual Trust Fee Liabilties & Equity 533,657 $ 431 $ Annual Remarketing Fee 55,000 $ 25th & Wall Bonds 11,387 $ Debt Interest Beg Equity 26,472 $ 22,793 $ Interfund Transfer - Housing End Equity 86,976 $ 5,698 $ Interfund Transfer - Admin Change in Equity 60,504 $ 111,064 $ 5,504 $ Rev - Exp 55,000 $ Record of Note Payable 60,504 $ Change in Equity 136,371 $ Property Taxes Cash 402,586 $ 2,255 $ Interest Income Bond - Trust 60,421 $ - $ Misc Revenue Taxes Receivable 123,082 $ - $ Bond Proceeds Assets 586,089 $ 138,625 $ Deferred Rev 123,082 $ Debt 285,000 $ 600 $ Operating expenses Equity 178,007 $ 3,000 $ Annual Trust Fee Liabilties & Equity 586,089 $ 60,000 $ 25th & Wall Bonds 9,895 $ Debt Interest 27,300 $ Interfund Transfer - Housing Beg Equity 86,976 $ 6,800 $ Interfund Transfer - Admin End Equity 178,007 $ 107,595 $ Change in Equity 91,031 $ 31,031 $ Rev - Exp 60,000 $ Record of Note Payable 91,031 $ Change in Equity Revenue 2014 Expenditure Balance Sheet 2013 Revenue 2013 Balance Sheet Expenditure 2014 Expenditure 2015 2015 Revenue Balance Sheet RDA CASHFLOW - WALL AVENUE ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 REVENUE 3290-2-11400-R PROPERTY TAX - TAX INCREMENT (136,370.70) (113,965.77) (144,683.31) (157,024.97) (154,250.00) (165,093.80) (187,009.13) (178,343.30) (79,488.88) (150,252.50) (27,621.33) (1,534.08) 0.00 3290-2-61000-R INTEREST INCOME (2,254.73) (2,602.81) (3,011.54) (1,655.04) (2,767.15) (2,686.19) (6,772.87) (9,008.87) (7,727.76) (4,821.88) (1,122.75) (1,144.82) (6,509.66) 3290-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (6,615.38) 0.00 0.00 3290-2-82000-R BOND PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (655,795.63) 3290-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (138,625.43) (116,568.58) (147,694.85) (158,680.01) (157,017.15) (167,779.99) (193,782.00) (187,352.17) (87,216.64) (155,074.38) (35,359.46) (2,678.90) (662,305.29) EXPENDITURES 3290-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (449.57) 0.00 3290-2-07-550801-14413-E HOUSING PROJECTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-07-550801-14601-E OPERATING EXPENSES 600.00 12,755.00 835.00 555.17 873.18 51,131.89 7,619.76 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-08-550802-14600-E NON CLASSIFIED OPERATING EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 63,155.63 515,750.22 3290-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 60,000.00 55,000.00 50,000.00 45,000.00 40,000.00 40,000.00 35,000.00 35,000.00 30,000.00 0.00 0.00 0.00 0.00 3290-2-08-550802-22200-E DEBT SERVICE - INTEREST 12,894.67 14,818.38 15,846.24 17,069.81 8,408.11 9,617.57 31,553.73 42,310.96 54,337.03 26,543.43 19,261.04 8,786.41 36,024.41 3290-2-09-550802-41000-E INTERFUND TRANSFERS 34,100.00 28,491.00 36,171.00 39,256.00 103,563.00 66,274.00 46,752.00 8,917.00 3,975.00 37,563.00 1,768.00 0.00 0.00 107,594.67 111,064.38 102,852.24 101,880.98 152,844.29 167,023.46 120,925.49 86,227.96 88,312.03 64,106.43 21,029.04 71,492.47 551,774.63 Net Change in Fund Balance (gain) loss (31,030.76) (5,504.20) (44,842.61) (56,799.03) (4,172.86) (756.53) (72,856.51) (101,124.21) 1,095.39 (90,967.95) (14,330.42) 68,813.57 (110,530.66) Beginning Fund Balance (431,976.02) (426,471.82) (381,629.21) (324,830.18) (320,657.32) (319,900.79) (247,044.28) (145,920.07) (147,015.46) (56,047.51) (41,717.09) (110,530.66) 0.00 Ending Fund Balance (463,006.78) (431,976.02) (426,471.82) (381,629.21) (324,830.18) (320,657.32) (319,900.79) (247,044.28) (145,920.07) (147,015.46) (56,047.51) (41,717.09) (110,530.66) BALANCE SHEET 3290-2-11100-B CASH IN BANK 402,586.22 371,859.37 366,658.32 322,220.72 265,827.14 261,968.69 261,620.18 190,051.80 91,533.16 95,410.14 6,499.96 (6,707.71) 0.00 3290-2-12200-B BOND TRUST 60,420.56 60,116.65 59,813.50 59,408.49 59,003.04 58,688.63 58,280.61 56,992.48 54,386.91 51,605.32 49,547.55 48,424.80 110,530.66 3290-2-13600-B TAXES RECEIVABLE 123,082.11 101,680.47 128,474.77 142,330.95 139,435.64 149,266.65 168,541.80 159,531.47 59,694.35 0.00 0.00 0.00 0.00 3290-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-24004-B DEFERRED REVENUE TAXES (123,082.11) (101,680.47) (128,474.77) (142,330.95) (139,435.64) (149,266.65) (168,541.80) (159,531.47) (59,694.34) 0.00 0.00 0.00 0.00 3290-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-34000-B FUND BALANCE RESV DEBT SERVICE (463,006.78) (431,976.02) (426,471.82) (381,629.21) (324,830.18) (320,657.32) (319,900.79) (247,044.28) (145,920.07) (147,015.46) (56,047.51) (41,717.09) (110,530.66) 3290-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3290-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 (0.00) 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of RDA Loan Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt Line-of-Credit Refuse to RDA borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Ogden River Project (ENTIRE PROJ) - $ 1,725,066 $ 2,000,000 $ - $ 3,725,066 $ 2003/2004 TIFF 2019 N/A Ogden River Project (LAND ACQUISITION) - $ 1,725,066 $ 2,000,000 $ - $ 3,725,066 $ 2004 TIFF 2019 2011 Ogden River Project (BUILDING) - $ - $ - $ - $ - $ 2004 TIFF 2019 N/A ---PAGE BREAK--- Ogden River OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Ogden River Project June 30, 2015 Inputs & Assumptions Base year: 2002 Tax Year Expiration: 2027 Original tax base: 10,272,959 $ Anticipated tax base increment: 15,000,000 $ Year tax increment Available to RDA 2005 Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance to BDO & Refuse at June 30, 2015: 3,744,614 $ Required Housing Contribution 20% Required Admin Contribution 5% 2002 - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2003 - - - - - - - - - - 2004 - - - - - 20,498 - - 20,498 20,498 2005 198,495 - - 198,495 - 635 - - 635 21,133 2006 278,109 - - 278,109 - 3,053,219 - (2,514,162) 539,057 540,525 2007 625,359 11,695,474 1,422,515 22,760 - 355,649 (240,182) (210,745) (95,278) 190,465 2008 656,096 11,766,207 1,493,248 16,963 561 817,300 (122,708) (83,521) 611,632 281,913 2009 905,191 16,193,865 5,920,906 67,261 98,590 1,203,594 (68,570) (963,038) 270,576 552,489 2010 1,074,170 15,496,076 5,223,117 4 59,335 54,250 628,387 (51,685) (982,621) (351,669) 31,816 2011 1,168,932 15,297,848 5,024,889 4 57,083 58,575 655,508 (98,428) (289,606) 326,049 394,794 2012 1,254,668 14,316,911 4,043,952 4 45,939 47,054 549,917 (39,978) (289,682) 267,310 662,104 2013 1,252,390 14,903,170 4,630,211 4 130,000 55,922 669,393 (38,064) (3,754,764) (3,067,513) 494,070 2014 1,264,807 15,025,187 4,752,228 4 130,000 98,253 625,307 (38,065) (705,030) (19,535) 649,679 2015 1,267,134 19,053,360 8,780,401 4 60,000 109,193 113,505 (38,064) (360,458) (175,823) 436,933 Projected 2016 5 1,280,417 19,053,360 8,780,401 4 99,000 99,000 - - - - 436,933 " 2017 1,294,136 19,053,360 8,780,401 4 - - - - - - 436,933 " 2018 1,310,851 19,053,360 8,780,401 4 - - - - - - 436,933 " 2019 1,169,249 19,053,360 8,780,401 4 - - - - - - 436,933 " 2020 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2021 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2022 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2023 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2024 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2025 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2026 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2027 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 " 2028 Unavailable 19,053,360 8,780,401 4 - - - - - - 436,933 15,000,004 $ Original TEC Increment Budget (522,397) $ Less amount received through 2015 14,477,607 $ Projected vs. Budget ASSUMPTIONS: 1 2 The RDA Board has committed by resolution: Commitment Estimate Housing 20% 3,000,001 $ RDA Admin. 5% 750,000 $ 3,750,001 $ Capped 15,000,000 $ Remaining 11,249,999 $ 3 4 The amount of tax increment is not accurately projected, because at the present time the status of the project is undeterminable for estimating purposes. 5 The 2016 Projections are based on the 2016 adopted budget. Projected Tax Increment Tax Increment Other Cash Inflows Debt Repayment Other Cash Outflows Fiscal Year Net Change Cash Balance The County does not provide an assessment on the District until it is determined that a tax increment payment is going to be taken. Information on assess value was not readily available. Given that there have been no improvements, the assumptions would be that there is no incremental value. The City's purchase of property and demolition of existing structures would actually cause property taxes to decrease due to decreased value and taxable land. The Agency has selected the option of collecting 100% of the annual tax increment from the Ogden River Redevelopment Project Area for tax years 2005 throught 2007, and 71% of the annual tax increment for tax years 2008 through 2018, and 62.36% of the annual tax increment for tax year 2019, up to a maximum total of tax increment received by the Agency of $15,000,000. Original TEC Increment Budget County Assessed Property Values Increment Value ---PAGE BREAK--- Page 3 of 6 July 1 - June 30 Change in Equity RDA - OGDEN RIVER PROJECT - 3320 RDA CASHFLOW - OGDEN RIVER PROJECT ---PAGE BREAK--- Page 4 of 6 2011 Balance Sheet 58,575 $ Property Tax Cash 394,794 $ - $ Interest Investment for resale 3,690,441 $ 655,508 $ Housing Funds to River Project A/R 52,214 $ - $ Loan proceeds - Line of Credit Assets 4,137,449 $ 714,083 $ A/P 3,954 $ Deferred Rev 52,214 $ 274,962 $ Property Development costs Notes pay. - Refuse 2,042,191 $ 98,428 $ Debt Service - Interest Notes payable - LOC 1,700,000 $ 2,929 $ Interfund transfers - Admin Equity 339,091 $ 11,715 $ Interfund transfers - Housing Liabilities & Equity 4,137,449 $ 388,034 $ Beg Equity 2,615,001 $ End Equity 339,091 $ 326,049 $ Rev - Exp Change in Equity (2,275,910) $ (2,601,959) $ Net of Investment for resale activity (2,275,910) $ Change in Equity 47,054 $ Property Tax Cash 659,751 $ 810 $ Interest Investment for resale 2,800,394 $ 549,107 $ Housing Funds to River Project A/R 40,964 $ Loan proceeds - Line of Credit Assets 3,501,110 $ 596,971 $ A/P 26,183 $ Deferred Rev 40,964 $ 1,080,777 $ Property Development costs Notes pay. - Refuse 2,042,191 $ 39,978 $ Debt Service - Interest Notes payable - LOC 1,588,230 $ 2,353 $ Interfund transfers - Admin Equity (196,458) $ 9,411 $ Interfund transfers - Housing Liabilities & Equity 3,501,110 $ 1,132,519 $ Beg Equity 339,091 $ End Equity (196,458) $ (535,549) $ Rev - Exp Change in Equity (535,549) $ Net of Investment for resale activity (535,549) $ Change in Equity 55,922 $ Property Tax Cash 494,070 $ 2,269 $ Interest Investment for resale - $ 111,401 $ Sale of Property A/R 50,535 $ 555,723 $ Inter Fund Tax Increment Transfer Assets 544,605 $ - $ Housing Funds to River Project - $ Loan proceeds - Line of Credit 725,315 $ A/P 91,651 $ Deferred Rev 51,235 $ 20,375 $ Property Purchase Notes pay. - Refuse 2,042,191 $ 3,723,205 $ Property Development costs Notes Pay -BDO Tax Dist 1,626,294 $ 38,064 $ Debt Service - Interest Notes payable - LOC - $ 2,796 $ Interfund transfers - Admin Equity (3,266,767) $ 11,184 $ Interfund transfers - Housing Liabilities & Equity 544,605 $ 3,795,624 $ Beg Equity (196,458) $ End Equity (3,266,767) $ (3,070,309) $ Rev - Exp Change in Equity (3,070,309) $ Net of Investment for resale activity (3,070,309) $ Change in Equity Balance Sheet 2011 Revenue Expenditure 2012 Balance Sheet Expenditure 2012 Revenue Expenditure 2013 Revenue 2013 RDA CASHFLOW - OGDEN RIVER PROJECT ---PAGE BREAK--- Page 5 of 6 98,253 $ Property Tax Cash 649,679 $ 920 $ Interest Investment for resale - $ - $ Sale of Property A/R 101,022 $ 624,387 $ Inter Fund Tax Increment Transfer Assets 750,701 $ - $ Housing Funds to River Project - $ Loan proceeds - Line of Credit 723,560 $ A/P 247,961 $ - $ Property Purchase Deferred Rev 87,405 $ 28,694 $ Operating Expenses Notes pay. - Refuse 2,042,191 $ 656,684 $ Property Development costs Notes Pay -BDO Tax Dist 1,664,359 $ 38,065 $ Debt Service - Interest Notes payable - LOC - $ 4,913 $ Interfund transfers - Admin Equity (3,291,215) $ 19,651 $ Interfund transfers - Housing Liabilities & Equity 750,701 $ 748,008 $ Beg Equity (3,266,767) $ End Equity (3,291,215) $ (24,448) $ Rev - Exp Change in Equity (24,448) $ Net of Investment for resale activity (24,448) $ Change in Equity 109,193 $ Property Tax Cash 436,933 $ 2,129 $ Interest Investment for resale - $ 111,376 $ Sale of Property A/R 112,165 $ - $ Inter Fund Tax Increment Transfer Assets 549,097 $ - $ Housing Funds to River Project - $ Loan proceeds - Line of Credit 222,698 $ A/P 172,974 $ Property Purchase Deferred Rev 98,547 $ 43,359 $ Operating Expenses Notes pay. - Refuse 2,042,191 $ 311,648 $ Property Development costs Notes Pay -BDO Tax Dist 1,702,423 $ 38,064 $ Debt Service - Interest Notes payable - LOC - $ 5,450 $ Interfund transfers - Admin Equity (3,467,038) $ - $ Interfund transfers - Housing Liabilities & Equity 549,097 $ 398,522 $ Beg Equity (3,291,215) $ End Equity (3,467,038) $ (175,823) $ Rev - Exp Change in Equity (175,823) $ Net of Investment for resale activity (175,823) $ Change in Equity 2015 2015 Revenue Balance Sheet Expenditure 2014 Revenue Expenditure 2014 Balance Sheet RDA CASHFLOW - OGDEN RIVER PROJECT ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 REVENUE 3320-2-11400-R PROPERTY TAX - TAX INCREMENT (109,193.08) (98,252.73) (55,921.50) (47,054.04) (58,574.87) (54,250.29) (98,589.75) (561.33) 0.00 0.00 0.00 0.00 3320-2-61000-R INTEREST INCOME (2,129.38) (920.05) (2,269.18) (809.50) 0.00 0.00 0.00 0.00 (88.43) (341.04) (634.86) (497.75) 3320-2-62000-R INVESTMENT INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (793.42) 0.00 0.00 0.00 0.00 3320-2-71000-R SALE OF PROPERTY (111,376.00) 0.00 (111,401.00) 0.00 0.00 0.00 0.00 (396,079.00) 0.00 0.00 0.00 0.00 3320-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (50,000.00) (27,010.00) (3,259.92) 0.00 0.00 3320-2-82000-R LOAN PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-84001-R HOUSING FUNDS TO RIVER PROJECT 0.00 0.00 0.00 0.00 0.00 0.00 (1,203,594.00) 0.00 (328,551.00) 0.00 0.00 0.00 3320-2-84002-R INTERFUND TRANSFERS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-84003-R INTERFUND TAX INC TRANSFER 0.00 (624,387.00) (555,723.00) (549,107.00) (655,508.00) (628,387.00) 0.00 (370,428.00) 0.00 (261,000.00) 0.00 0.00 (222,698.46) (723,559.78) (725,314.68) (596,970.54) (714,082.87) (682,637.29) (1,302,183.75) (817,861.75) (355,649.43) (264,600.96) (634.86) (497.75) EXPENDITURES 3320-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-07-550801-14415-E OPERATING CONTINGENCY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-07-550801-14601-E OPERATING EXPENSES 43,359.35 28,694.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-07-550801-14610-E RELOCATION COSTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-07-550801-31000-E PROPERTY PURCHASE 0.00 0.00 20,374.96 0.00 0.00 (20,000.00) 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-07-550801-33000-E PROPERTY DEVELOPMENT 0.00 0.00 2,800,394.31 622,562.81 0.00 0.00 (141.76) 83,520.66 0.00 0.00 0.00 0.00 3320-2-07-550801-33010-E OTHER PROPERTY RELATED COSTS 78,982.65 0.00 0.00 0.00 0.00 0.00 9,187.50 0.00 210,745.32 0.00 0.00 0.00 3320-2-07-550801-33020-E PROPERTY DEVELOPMENT FROM HOUSING FUNDS 232,665.52 656,684.36 922,810.61 458,214.54 274,962.48 966,604.05 926,796.89 0.00 0.00 0.00 0.00 0.00 3320-2-07-550801-39999-E CAPITALIZATION OF FIXED ASSETS 0.00 0.00 0.00 0.00 2,601,959.00 (966,344.48) (926,096.89) 0.00 0.00 0.00 0.00 0.00 3320-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 0.00 0.00 0.00 15,851.29 1,170.00 0.00 0.00 0.00 0.00 0.00 3320-2-08-550802-22200-E DEBT SERVICE - INTEREST 38,064.00 38,065.00 38,064.00 39,977.73 98,427.53 35,833.26 67,400.78 122,708.46 240,181.58 5,623.27 0.00 0.00 3320-2-08-550802-22300-E BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-09-550802-41000-E INTERFUND TRANSFERS 5,450.00 24,564.00 13,980.00 11,764.00 14,644.00 12,787.00 23,238.00 0.00 0.00 0.00 0.00 0.00 398,521.52 748,007.72 3,795,623.88 1,132,519.08 2,989,993.01 44,731.12 101,554.52 206,229.12 450,926.90 5,623.27 0.00 0.00 Net Change in Fund Balance (gain) loss 175,823.06 24,447.94 3,070,309.20 535,548.54 2,275,910.14 (637,906.17) (1,200,629.23) (611,632.63) 95,277.47 (258,977.69) (634.86) (497.75) Beginning Fund Balance 3,291,214.96 3,266,767.02 196,457.82 (339,090.72) (2,615,000.86) (1,977,094.69) (776,465.46) (164,832.83) (260,110.30) (1,132.61) (497.75) 0.00 Ending Fund Balance 3,467,038.02 3,291,214.96 3,266,767.02 196,457.82 (339,090.72) (2,615,000.86) (1,977,094.69) (776,465.46) (164,832.83) (260,110.30) (1,132.61) (497.75) BALANCE SHEET 3320-2-11100-B CASH IN BANK 436,932.74 649,678.94 494,069.79 659,751.37 394,794.10 31,815.86 379,335.46 108,760.90 (43,611.51) 1,467.90 21,132.61 20,497.75 3320-2-11500-B CASH HELD IN TITLE CO. ESCROW 0.00 0.00 0.00 0.00 0.00 0.00 173,153.85 173,153.85 234,076.60 529,841.60 0.00 0.00 3320-2-12201-B INVESTMENTS 0.00 0.00 0.00 2,800,394.31 3,690,441.12 6,292,400.12 5,152,901.79 4,226,804.90 4,816,417.15 2,514,170.75 0.00 0.00 3320-2-13100-B ACCOUNTS RECEIVABLE 13,617.36 13,617.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,259.92 0.00 0.00 3320-2-13600-B TAXES RECEIVABLE 98,547.37 87,405.06 50,534.92 40,963.86 52,214.07 48,413.60 89,510.68 0.00 0.00 0.00 0.00 0.00 3320-2-21100-B ACCOUNTS PAYABLE (172,974.12) (247,961.26) (91,651.36) (26,182.50) (3,953.50) 0.00 (3,230.00) (7,187.78) (20,369.00) 0.00 0.00 0.00 3320-2-21500-B RIVER PROJECT ESCROW FUNDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (20,000.00) (20,000.00) 3320-2-22200-B LOAN FROM REFUSE FUND (2,042,191.00) (2,042,191.00) (2,042,191.00) (2,042,191.00) (2,042,191.00) (2,000,000.00) (2,000,000.00) (2,000,000.00) (2,000,000.00) (1,400,000.00) 0.00 0.00 3320-2-22201-B LOAN FROM BDO TAX IC DIST (1,702,423.00) (1,664,359.00) (1,626,294.00) (1,588,230.00) (1,700,000.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-22500-B LINE OF CREDIT - FIRST NATIONAL BANK 0.00 0.00 0.00 0.00 0.00 (1,709,215.12) (1,725,066.41) (1,725,066.41) (2,821,680.41) (1,388,629.87) 0.00 0.00 3320-2-24004-B DEFERRED REVENUE (98,547.37) (87,405.06) (51,235.37) (40,963.86) (52,214.07) (48,413.60) (89,510.68) 0.00 0.00 0.00 0.00 0.00 3320-2-31000-B REVENUE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-32000-B EXPENDITURE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-32001-B RES FOR CURRENT YR ENCUMBRANCE 20,916.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-34000-B FUND BALANCE RESV DEBT SERVICE 3,446,121.82 3,291,214.96 3,266,767.02 196,457.82 (339,090.72) (2,615,000.86) (1,977,094.69) (246,623.46) 365,009.17 269,731.70 (1,132.61) (497.75) 3320-2-35603-B FUND BAL RESTRICTED CASH & INVEST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (529,842.00) (529,842.00) (529,842.00) 0.00 0.00 3320-2-39100-B APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-39200-B ESTIMATED REVENUE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3320-2-39300-B BUDGETARY FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated East Washington (ENTIRE PROJ) - $ - $ - $ 100% 0 2034 53,656 $ ---PAGE BREAK--- 12th Street OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - East Washington URA June 30, 2015 Inputs & Assumptions Base year: 2009 Tax Year Expiration: 2033 Original tax base: 21,109,401 $ Anticipated tax base increment: 338,869 $ Year tax increment Available to RDA 2012 Tax rate: 0.17465% Anticipated annual rents / positive cash flow: - $ Anticipated future debt / negative cash flows: - $ Required Housing Contribution 20% Required Admin Contribution 2.5% or $22,000 whichever is greater BASE 21,109,401 $ - - $ 2015 - 22,757,086 $ 1,647,685 35,000 $ 53,656 $ 160 $ (10,800) $ (1,300) $ (30,000) $ 11,716 $ 41,716 Projected 2016 - - - 50,000 - - - - - 50,000 41,716 " 2017 - - - - - - - - - - 41,716 " 2018 - - - - - - - - - - 41,716 " 2019 - - - - - - - - - - 41,716 " 2020 - - - - - - - - - - 41,716 " 2021 - - - - - - - - - - 41,716 " 2022 - - - - - - - - - - 41,716 " 2023 - - - - - - - - - - 41,716 " 2024 - - - - - - - - - - 41,716 " 2025 - - - - - - - - - - 41,716 " 2026 - - - - - - - - - - 41,716 " 2027 - - - - - - - - - - 41,716 " 2028 - - - - - - - - - - 41,716 " 2029 - - - - - - - - - - 41,716 " 2030 - - - - - - - - - - 41,716 " 2031 - - - - - - - - - - 41,716 " 2032 - - - - - - - - - 41,716 " 2033 - - - - - - - - - 41,716 " 2034 - - - - - - - - - 41,716 - 16,835,550 $ 16,835,550 $ Total Projected in TEC Budget (53,656) $ Less amount received through 2015 16,781,894 $ Projected vs. Actual 1 The projection is based on the 2016 adopted budget Increment Value Projected Tax Increment 1 Transfer to Housing Other Cash Outflows Total Increment TEC Budget Cash Balance Net Change Tax Increment Other Cash Flows Transfer to Admin Fiscal Year Original TEC Budget County Assessed Property Values ---PAGE BREAK--- Page 3 of 5 RDA - 12 th Street - 3240 Change in Equity July 1 - June 30 Balance Sheet 53,656 $ Property Taxes 160 $ Interest Income Cash 41,716 $ - $ Misc Revenue Taxes Receivable 56,403 $ 53,816 $ Assets 98,119 $ 30,000 $ Contractual Expenses Accounts Payable 30,000 $ 1,300 $ Transfer to Housing Deferred Revene 56,403 $ 10,800 $ Transfer to Admin Equity 11,716 $ 42,100 $ Liabilties & Equity 98,119 $ 11,716 $ Rev - Exp - $ Record of Note Payable Beg Equity - $ 11,716 $ Change in Equity End Equity 11,716 $ Change in Equity 11,716 $ 2015 Revenue 2015 Expenditure RDA CASHFLOW - East Washington ---PAGE BREAK--- 2015 REVENUE 3360-2-11400-R PROPERTY TAX - TAX INCREMENT (53,655.79) 3360-2-61000-R INTEREST INCOME (160.35) 3360-2-72000-R MISCELLANEOUS INCOME 0.00 (53,816.14) EXPENDITURES 3360-2-07-550801-13410-E CONTRACTUAL SERVICES 30,000.00 3360-2-07-550801-14412-E CONTINGENT 0.00 3360-2-07-550801-14601-E OPERATING EXPENSES 0.00 3360-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 3360-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 3360-2-09-550802-41000-E INTERFUND TRANSFERS 12,100.00 42,100.00 Net Change in Fund Balance (gain) loss (11,716.14) Beginning Fund Balance 0.00 Ending Fund Balance (11,716.14) BALANCE SHEET 3240-2-11100-B CASH IN BANK 41,716.14 3240-2-12200-B INVESTMENTS 0.00 3240-2-13601-B TAXES RECEIVABLE 56,402.77 3240-2-21100-B ACCOUNTS PAYABLE (30,000.00) 3240-2-22500-B DUE TO WEBER CO-COLLECTION 0.00 3240-2-24004-B DEFERRED REVENUE TAXES (56,402.77) 3240-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 3240-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 3240-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 3240-2-33002-B ENCUMBRANCE CONTROL 0.00 3240-2-34000-B FUND BALANCE TO RESV DEBT SRVC (11,716.14) 3270-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 3240-2-39300-B BUDGETARY - ESTIMATED REVENUE 0.00 3270-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Business Depot Ogden - $ - $ 2001/2002 TIFF 2019 2017 NA 47,373,212 $ NA All available tax increment is committed to the BDO project area. Under the master lease agreement with Boyer the City has committed to support the master development plan. A large number of jobs have been created since the facility was turned over to the City. Major employers include, Lofthouse, Fresenius, Petersen, Boyer, and Scott. ---PAGE BREAK--- Business Depot Ogden OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Business Depot Ogden (formerly DDO) June 30, 2015 Inputs & Assumptions Base year: 1997 Tax Year Expiration: 2019 Original tax base: - $ Anticipated tax base increment: - $ Year tax increment Available to RDA N/A Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ Discount factor for net present value: 5% Inflation factor for rents and future cash flows: 1997 Unavailable - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1998 Unavailable - - - - - - - - - - 1999 Unavailable - - - - - - - - - - 2000 Unavailable 48,248,836 36,186,627 867,372 - - - - - - - 2001 Unavailable 48,248,836 36,186,627 1,322,116 720,699 3,778 - - - 724,477 724,477 2002 Unavailable 93,536,615 71,225,911 1,498,872 1,164,971 35,525 - - - 1,200,496 1,924,973 2003 Unavailable 147,095,728 111,689,393 1,624,116 1,810,150 2,448,685 (1,098,961) (5,081,000) (3,700) (1,924,826) 147 2004 Unavailable 177,401,925 114,590,370 1,785,374 1,846,853 18,064 (1,121,154) (732,827) - 10,936 11,085 2005 Unavailable 174,522,373 128,681,130 1,912,675 2,108,569 8,773 (1,109,214) (997,155) (2,200) 8,773 19,857 2006 Unavailable 189,368,014 131,564,566 2,094,598 2,240,413 25,451 (1,069,916) (1,026,650) (84,218) 85,081 104,938 2007 Unavailable 212,911,341 138,078,819 2,242,619 2,459,598 48,762 (1,140,684) (1,400,000) - (32,325) 72,614 2008 Unavailable 240,001,770 180,992,057 2,426,771 3,007,907 39,412 (1,136,895) (1,975,000) - (64,576) 8,038 2009 Unavailable 259,994,396 189,525,128 2,577,082 2,971,754 14,734 (1,138,199) (1,845,000) - 3,289 11,327 2010 Unavailable 334,198,214 248,420,685 2,521,727 4,023,173 4,063 (786,545) (2,900,000) - 340,691 352,017 2011 Unavailable 349,621,744 266,060,567 2,687,795 4,550,966 10,778 (1,129,582) (1,169,000) (41,803) 2,221,359 553,384 2012 Unavailable 361,111,692 268,486,018 4,550,966 4,646,956 5,422,371 (7,817,461) (2,600,000) (125,249) (473,381) 169,894 2013 Unavailable 364,284,822 289,440,401 6,100,000 5,283,445 53,601 (1,847,822) (3,298,000) (53,804) 137,420 251,014 2014 Unavailable 392,320,205 289,440,401 6,300,000 5,294,718 49,914 (1,855,476) (3,385,590) (65,501) 38,065 272,853 2015 Unavailable 398,045,593 289,440,401 5,500,000 5,243,040 48,962 - (5,180,000) (59,972) 52,030 290,481 Projected 2016 2 Unavailable 398,045,593 289,440,401 5,300,000 5,300,000 - - - (5,300,000) - 290,481 " 2017 Unavailable 398,045,593 289,440,401 5,300,000 5,300,000 - - - (5,300,000) - 290,481 " 2018 Unavailable 398,045,593 289,440,401 5,300,000 5,300,000 - - - (5,300,000) - 290,481 " 2019 Unavailable 398,045,593 289,440,401 5,300,000 5,300,000 - - - (5,300,000) - 290,481 2020 Unavailable 398,045,593 289,440,401 5,300,000 5,300,000 - - - (5,300,000) - 290,481 67,212,083 $ Total Projected 47,373,212 $ Less amount received through 2015 19,838,872 $ Projected vs. Actual COMMITMENTS AND ASSUMPTIONS: 1 The RDA is to receive 75% of tax increment for 20 years from the date of first acceptance. Excess lease revenue must be used to make bond payments, before the City can use any portion of the additional 25% (Released in 2005 restructure of debt) The additional 25% is commited to the remaining taxing agencies and as collateral on the bonds in the event the City does not have excess lease revenue. 2 The 2016 projection is based on the 2016 adopted budget. Range (if applicable) Original TEC Increment Budget County Assessed Property Values Increment Value Originally Projected Tax Increment Tax Increment Other Cash Inflows Fiscal Year Actual Principal & Interest Transfer to BDO (5180) Other Cash Outflows Net Change Cash Balance ---PAGE BREAK--- Page 3 of 5 BDO - DDO TAX INCREMENT - 3260 Change in Equity 4,550,966 $ Property Taxes Cash 553,384 $ 10,778 $ Interest Income A/R 5,715,938 $ - $ Haircut Assets 6,269,321 $ 4,561,744 $ A/P 31,327 $ Deferred Rev 4,015,938 $ Bonded debt 5,790,000 $ 1,169,000 $ Tax increment transfer from RDA to City BDO Fund Equity (3,567,943) $ 825,000 $ Annual Principal bonded debt Liabilities & Equity 6,269,321 $ 304,582 $ Annual Interest bonded debt 5,000 $ Annual Trustee fee 41,802 $ Operating Expenses Beg Equity (restated) (6,609,302) $ 2,345,384 $ End Equity (3,567,943) $ Change in Equity 3,041,359 $ 2,216,359 $ Rev minus Exp 825,000 $ Record of Note Payable 3,041,359 $ Change in Equity 4,646,956 $ Property Taxes Cash 169,894 $ 47,371 $ Interest Income A/R 5,799,147 $ 5,375,000 $ Bond Proceeds Assets 5,969,042 $ 10,069,328 $ A/P 10,994 $ Deferred Rev 4,210,917 $ Bonded debt 3,570,000 $ 2,600,000 $ Tax increment transfer from RDA to City BDO Fund Equity (1,822,869) $ 7,595,000 $ Annual Principal bonded debt Liabilities & Equity 5,969,042 $ 222,461 $ Annual Interest bonded debt 1,545 $ Annual Trustee fee 70,750 $ Bond Issuance Costs Beg Equity (restated) (3,567,943) $ 54,499 $ Operating Expenses End Equity (1,822,869) $ 10,544,254 $ Change in Equity 1,745,074 $ (474,926) $ Rev minus Exp 2,220,000 $ Record of Note Payable 1,745,074 $ Change in Equity July 1 through June 30 2012 Revenue Expenditure 2012 Balance Sheet 2011 Revenue 2011 Balance Sheet Expenditure RDA CASHFLOW - BDO-DDO Change in Equity ---PAGE BREAK--- Page 4 of 5 5,283,445 $ Property Taxes Cash 251,014 $ 53,601 $ Interest Income Restricted Investment 22,263 $ - $ Bond Proceeds A/R 6,077,453 $ 5,337,046 $ Assets 6,350,730 $ A/P 15,021 $ Deferred Rev 4,451,159 $ 3,298,000 $ Tax increment transfer from RDA to City BDO Fund Bonded debt 1,810,000 $ 1,760,000 $ Annual Principal bonded debt Equity 74,551 $ 87,822 $ Annual Interest bonded debt Liabilities & Equity 6,350,730 $ - $ Bond Issuance Costs 53,804 $ Operating Expenses 5,199,626 $ Beg Equity (restated) (1,822,869) $ End Equity 74,551 $ 137,420 $ Rev minus Exp Change in Equity 1,897,420 $ 1,760,000 $ Record of Note Payable 1,897,420 $ Change in Equity 5,294,718 $ Property Taxes Cash 272,853 $ 49,914 $ Interest Income Restricted Investment - $ - $ Bond Proceeds Loan Receivable 1,664,359 $ 5,344,632 $ A/R 4,771,224 $ Assets 6,708,436 $ A/P 14,597 $ 3,385,590 $ Tax increment transfer from RDA to City BDO Fund Deferred Rev 4,771,224 $ 1,810,000 $ Annual Principal bonded debt Bonded debt - $ 45,476 $ Annual Interest bonded debt Equity 1,922,615 $ - $ Bond Issuance Costs Liabilities & Equity 6,708,436 $ 65,501 $ Operating Expenses 5,306,567 $ 38,065 $ Rev minus Exp Beg Equity (restated) 74,551 $ 1,810,000 $ Record of Note Payable End Equity 1,922,615 $ 1,848,065 $ Change in Equity Change in Equity 1,848,065 $ 2014 Balance Sheet 2014 Revenue Expenditure 2013 Revenue Expenditure 2013 Balance Sheet RDA CASHFLOW - BDO-DDO Change in Equity ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 REVENUE 3260-2-11400-R PROPERTY TAX - TAX INCREMENT (5,243,039.64) (5,294,717.78) (5,283,445.08) (4,646,956.45) (4,550,965.62) (4,023,173.09) (2,971,752.58) (3,007,906.87) (2,459,598.03) (2,240,413.41) (2,108,569.16) (1,846,853.02) (1,810,149.67) (1,164,971.43) (720,698.82) 0.00 0.00 3260-2-61000-R INTEREST INCOME (48,962.29) (49,914.12) (53,600.80) (47,371.36) (10,778.05) (4,062.53) (14,734.45) (39,412.94) (48,761.72) (25,451.18) (8,772.50) (18,064.49) (85,670.47) (35,525.34) (3,778.21) 0.00 0.00 3260-2-82000-R BOND PROCEEDS 0.00 0.00 0.00 (5,375,000.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-84000-R BDO MALL BOND DRAW INTERFUND TRANSFER 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (2,363,015.00) 0.00 0.00 0.00 0.00 (5,292,001.93) (5,344,631.90) (5,337,045.88) (10,069,327.81) (4,561,743.67) (4,027,235.62) (2,986,487.03) (3,047,319.81) (2,508,359.75) (2,265,864.59) (2,117,341.66) (1,864,917.51) (4,258,835.14) (1,200,496.77) (724,477.03) 0.00 0.00 EXPENDITURES 3260-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-07-550801-14600-E OPERATING EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 997,155.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-07-550801-14601-E OPERATING EXPENSES 59,971.91 65,501.12 53,803.88 54,498.75 41,802.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-07-550801-52001-E CONSTRUCTION TRANSFER TO BDO 5,180,000.00 3,385,590.00 3,298,000.00 2,600,000.00 1,169,000.00 2,900,000.00 1,845,000.00 1,975,000.00 1,400,000.00 1,026,650.00 0.00 732,827.00 5,081,000.00 0.00 0.00 0.00 0.00 3260-2-08-600402-22100-E DEBT SERVICE - PRINCIPAL 0.00 1,810,000.00 1,760,000.00 7,595,000.00 825,000.00 785,000.00 755,000.00 720,000.00 690,000.00 645,000.00 620,000.00 600,000.00 570,000.00 0.00 0.00 0.00 0.00 3260-2-08-600402-22200-E DEBT SERVICE - INTEREST 0.00 45,476.00 87,822.00 224,005.55 309,582.00 347,864.79 383,199.00 416,895.00 450,684.37 471,975.36 491,414.00 521,154.40 532,660.51 0.00 0.00 0.00 0.00 3260-2-08-600402-22300-E BOND ISSUANCE COSTS 0.00 0.00 0.00 70,750.00 0.00 0.00 0.00 0.00 0.00 37,158.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,239,971.91 5,306,567.12 5,199,625.88 10,544,254.30 2,345,384.41 4,032,864.79 2,983,199.00 3,111,895.00 2,540,684.37 2,180,783.36 2,108,569.00 1,853,981.40 6,183,660.51 0.00 0.00 0.00 0.00 Net Change in Fund Balance (gain) loss (52,030.02) (38,064.78) (137,420.00) 474,926.49 (2,216,359.26) 5,629.17 (3,288.03) 64,575.19 32,324.62 (85,081.23) (8,772.66) (10,936.11) 1,924,825.37 (1,200,496.77) (724,477.03) 0.00 0.00 Beginning Fund Balance (1,922,615.03) (1,884,550.25) (1,747,130.25) (2,222,056.74) (5,697.48) (11,326.65) (8,038.62) (72,613.81) (104,938.43) (19,857.20) (11,084.54) (148.43) (1,924,973.80) (724,477.03) 0.00 0.00 0.00 Ending Fund Balance (1,974,645.05) (1,922,615.03) (1,884,550.25) (1,747,130.25) (2,222,056.74) (5,697.48) (11,326.65) (8,038.62) (72,613.81) (104,938.43) (19,857.20) (11,084.54) (148.43) (1,924,973.80) (724,477.03) 0.00 0.00 BALANCE SHEET 3260-2-11100-B CASH IN BANK 290,480.56 272,852.76 251,014.35 169,894.46 553,383.79 5,697.48 11,326.65 8,038.62 72,613.81 104,938.43 19,857.20 11,084.54 148.43 1,924,973.80 724,477.03 0.00 0.00 3260-2-12201-B RESTRICED INVESTMENT 0.00 0.00 22,263.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-13500-B BDO PROP MGMT - MALL TRANSFER 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-13501-B LOAN RECIEVABLE OGDEN RIVER PROJECT 1,702,423.00 1,664,359.00 1,626,294.00 1,588,230.00 1,700,000.00 3260-2-13600-B TAXES RECEIVABLE 4,728,234.11 4,771,223.86 4,451,158.65 4,210,917.25 4,015,937.61 3,645,052.32 2,669,638.30 2,686,323.96 1,891,585.14 2,200,358.99 1,673,408.81 1,650,226.31 951,365.58 1,216,642.87 0.00 0.00 0.00 3260-2-21100-B ACCOUNTS PAYABLE (18,258.51) (14,596.73) (15,021.10) (10,994.21) (31,327.05) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-24004-B DEFERRED REVENUE TAXES (4,728,234.11) (4,771,223.86) (4,451,158.65) (4,210,917.25) (4,015,937.61) (3,645,052.32) (2,669,638.30) (2,686,323.96) (1,891,585.14) (2,200,358.99) (1,673,408.81) (1,650,226.31) (951,365.58) (1,216,642.87) 0.00 0.00 0.00 3260-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-34000-B FUND BALANCE RESV DEBT SERVICE (1,974,645.05) (1,922,615.03) (1,884,550.25) (1,747,130.25) (2,222,056.74) (5,697.48) (11,326.65) (8,038.62) (72,613.81) (104,938.43) (19,857.20) (11,084.54) (148.43) (1,924,973.80) (724,477.03) 0.00 0.00 3260-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3260-2-39300-B BUDGETRAY - FUND BALANCE (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated 12th Street (ENTIRE PROJ) B 6,000,000 $ - $ 100% A - $ None TIFF 2016 None 2,325,000 $ A Tax increment has been committed as follows: Fresenius expansion - 54.2% RDA Administration - 1.8% RDA Housing - 14.0% Other Taxing Entities - 30.0% 100.0% B In December 2006, the RDA issued $6,000,000 in bonds to financing the construction of a Bus Maintenance Facility for Weber School District in exchange for the District's current facility on Gibson Ave. This will allow for future Fresenius expansion. The bonds are secured by tax increment. ---PAGE BREAK--- West 12th Street OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - West 12th Street Project June 30, 2015 Inputs & Assumptions Base year: 2001 Tax Year Expiration: 2016 Original tax base: 8,743,455 $ Anticipated tax base increment: 180,000,000 $ Year tax increment Available to RDA 2003 Tax rate: N/A Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: 2,170,000 $ 2001 - $ 8,743,455 $ - $ - $ - $ - $ - $ - $ - $ - $ 2002 - 8,743,455 - $ - - - - - - - 2003 667,620 67,591,043 58,847,588 $ 300,000 336,446 2,924 - (336,445) 2,925 2,925 2004 799,262 79,588,066 70,844,611 $ 336,446 627,102 4,684 - (458,727) 173,059 175,984 2005 888,788 86,230,169 77,486,714 $ 627,102 599,311 9,623 - (602,626) 6,308 182,292 2006 1,302,913 118,045,483 109,302,028 $ 599,311 854,178 25,422 - (832,697) 46,903 229,196 2007 1,212,708 105,765,810 97,022,355 $ 854,178 740,929 6,158,638 (433,038) (576,207) 5,890,322 37,863 2008 1,207,911 114,614,798 105,871,343 $ 740,929 886,800 2,451,853 (438,242) (5,144,289) (2,243,878) 141,965 2009 1,619,365 190,947,263 182,203,808 $ 886,800 1,734,045 3,434,740 (801,465) (7,395,123) (3,027,803) 868,913 2010 1,956,855 184,889,405 176,145,950 $ 1,734,045 1,590,290 7,543 (1,320,922) (512,607) (235,696) 734,426 2011 1,757,089 181,907,652 173,164,197 $ 1,590,290 1,634,061 8,082 (1,343,394) (501,052) (202,303) 409,536 2012 1,561,290 166,839,964 158,096,509 $ 1,634,061 1,537,258 4,162 (1,322,323) (181,720) 37,377 134,393 2013 1,482,481 176,512,091 167,768,636 $ 3,000,000 1,687,469 6,026 (1,277,677) (175,613) 240,205 32,945 2014 1,403,674 212,463,074 203,719,619 $ 3,000,000 2,243,690 4,991 (1,234,504) (574,548) 439,630 537,909 2015 1,324,870 199,572,134 190,828,679 $ 1,700,000 1,928,645 4,544 (1,182,133) (702,868) 48,188 517,939 Projected 2016 1 1,281,770 199,572,134 190,828,679 $ 2,240,000 - - (1,163,224) - - 517,939 " 2017 1,282,631 199,572,134 190,828,679 $ Expired - - (1,162,822) - - 517,939 19,749,229 $ Total Original TEC Budget (16,400,224) $ Less amount received through 2015 3,349,005 $ Projected vs. Actual ASSUMPTIONS: A During the 2006-2007 fiscal year, the RDA issued tax increment bonds in this District to finance a property exchange with Weber School District. Payment on these bonds began in FY2007, and the final balloon payment is due in FY2014 B During the 2008-2009 fiscal year, the RDA issued additional tax-increment bonds. Payment on these bonds began in FY 2010. 1 The 2016 Projection is based on the 2016 adopted budget Other Cash Inflows Fiscal Year Debt Repayment Other Cash Outflows Net Change Cash Balance Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Tax Increment ---PAGE BREAK--- Page 3 of 5 WEST 12TH - 3300 Change in Equity July 1 - June 30 1,634,061 $ Property Taxes Cash 409,536 $ 8,082 $ Interest Income Bond Trust 302 $ - $ Misc Revenue A/R 1,479,363 $ - $ Bond Proceeds Assets 1,889,201 $ 1,642,143 $ A/P - $ Deferred Rev 1,479,363 $ 975,000 $ Debt Service- Principal Bonded Debt 6,280,000 $ 366,394 $ Debt Service - Interest Equity (5,870,162) $ 2,000 $ Annual Trustee Fee Liabilities & Equity 1,889,201 $ - $ Improvements - Non Exempt 2006B - $ Improvements - Exempt 2006A Beg Equity (6,642,859) $ 132,245 $ Operating Exp. End Equity (5,870,162) $ 41,995 $ Interfund transfer - Admin Change in Equity 772,697 $ 326,812 $ Interfund transfer - Housing 1,844,446 $ (202,303) $ Rev - Exp 975,000 $ Record of Note Payable 772,697 $ Change in Equity 1,537,258 $ Property Taxes Cash 134,393 $ 4,162 $ Interest Income Bond Trust 115 $ - $ Misc Revenue A/R 1,374,507 $ - $ Bond Proceeds Assets 1,509,015 $ 1,541,420 $ A/P - $ Deferred Rev 1,374,507 $ 1,020,000 $ Debt Service- Principal Bonded Debt 5,260,000 $ 302,323 $ Debt Service - Interest Equity (5,125,492) $ 5,255 $ Annual Trustee Fee Liabilities & Equity 1,509,015 $ - $ Improvements - Non Exempt 2006B - $ Improvements - Exempt 2006A Beg Equity (5,870,162) $ 132,245 $ Operating Exp. End Equity (5,125,492) $ 49,475 $ Interfund transfer - Admin Change in Equity 744,669 $ 307,452 $ Interfund transfer - Housing 1,816,751 $ (275,331) $ Rev - Exp 1,020,000 $ Record of Note Payable 744,669 $ Change in Equity Revenue 2011 Balance Sheet Expenditure 2012 2011 Revenue 2012 Balance Sheet Expenditure RDA CASHFLOW - WEST 12TH ---PAGE BREAK--- Page 4 of 5 1,687,469 $ Property Taxes Cash 32,945 $ 6,026 $ Interest Income Bond Trust 74 $ - $ Misc Revenue A/R 1,514,361 $ - $ Bond Proceeds Assets 1,547,379 $ 1,693,495 $ A/P - $ Deferred Rev 1,513,661 $ 1,030,000 $ Debt Service- Principal Bonded Debt 4,230,000 $ 247,677 $ Debt Service - Interest Equity (4,196,281) $ 3,500 $ Annual Trustee Fee Liabilities & Equity 1,547,380 $ - $ Improvements - Non Exempt 2006B - $ Improvements - Exempt 2006A Beg Equity (5,125,492) $ 132,245 $ Operating Exp. End Equity (4,196,281) $ 43,368 $ Interfund transfer - Admin Change in Equity 929,211 $ 337,494 $ Interfund transfer - Housing 1,794,284 $ (100,789) $ Rev - Exp 1,030,000 $ Record of Note Payable 929,211 $ Change in Equity 2,243,690 $ Property Taxes Cash 537,909 $ 4,991 $ Interest Income Bond Trust - $ - $ Misc Revenue A/R 2,030,554 $ - $ Bond Proceeds Assets 2,568,463 $ 2,248,682 $ A/P 68,147 $ Deferred Rev 2,030,554 $ 1,030,000 $ Debt Service- Principal Bonded Debt 3,200,000 $ 204,504 $ Debt Service - Interest Equity (2,730,151) $ 3,500 $ Annual Trustee Fee Liabilities & Equity 2,568,550 $ - $ Improvements - Non Exempt 2006B - $ Improvements - Exempt 2006A Beg Equity (4,196,281) $ 68,147 $ Operating Exp. End Equity (2,730,151) $ 57,663 $ Interfund transfer - Admin Change in Equity 1,466,130 $ 448,738 $ Interfund transfer - Housing 1,812,552 $ 436,130 $ Rev - Exp 1,030,000 $ Record of Note Payable 1,466,130 $ Change in Equity 2013 Revenue 2013 Balance Sheet Expenditure 2014 2014 Balance Sheet Revenue Expenditure RDA CASHFLOW - WEST 12TH ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 REVENUE 3300-2-11400-R PROPERTY TAX - TAX INCREMENT (1,928,644.76) (2,243,690.32) (1,687,469.19) (1,537,258.14) (1,634,061.51) (1,590,289.88) (1,734,044.84) (886,800.55) (740,928.84) (854,178.12) (599,310.51) (627,102.25) (336,445.96) 3300-2-61000-R INTEREST INCOME (4,544.23) (4,991.23) (6,026.13) (4,161.86) (8,081.58) (7,542.82) (56,630.00) (213,762.83) (158,638.25) (25,422.29) (9,623.47) (4,684.45) (2,924.02) 3300-2-71000-R SALE OF PROPERTY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (2,238,090.87) 0.00 0.00 0.00 0.00 0.00 3300-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 (378,109.80) 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-82001-R BOND PROCEEDS 0.00 0.00 0.00 0.00 0.00 0.00 (3,000,000.00) 0.00 (6,000,000.00) 0.00 0.00 0.00 0.00 3300-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (1,933,188.99) (2,248,681.55) (1,693,495.32) (1,541,420.00) (1,642,143.09) (1,597,832.70) (5,168,784.64) (3,338,654.25) (6,899,567.09) (879,600.41) (608,933.98) (631,786.70) (339,369.98) EXPENDITURES 3300-2-07-550801-13410-E CONTRACTUAL SERVICES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-07-550801-14601-E OPERATING EXPENSES 64,068.18 68,146.82 132,245.00 132,245.00 132,245.00 132,245.00 134,045.00 132,245.00 353,523.00 638,798.00 464,580.00 441,802.00 0.00 3300-2-07-550801-22300-E BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00 0.00 0.00 23,829.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-07-550801-31001-E LAND (2006A TAX EXEMPT) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,282,127.50 0.00 0.00 0.00 0.00 0.00 3300-2-07-550801-31002-E LAND (2006B NON EXEMPT) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-07-550801-33001-E IMPROVEMENTS (TAX EXEMPT BONDS) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-07-550801-33002-E IMPROVEMENTS (2006B NON EXEMPT) 0.00 0.00 0.00 0.00 0.00 21,433.85 6,869,703.56 3,529,766.00 74,498.10 0.00 0.00 0.00 0.00 3300-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 1,030,000.00 1,030,000.00 1,030,000.00 1,020,000.00 975,000.00 905,000.00 370,000.00 125,000.00 345,000.00 0.00 0.00 0.00 140,000.00 3300-2-08-550802-22200-E DEBT SERVICE - INTEREST 155,633.00 208,003.93 251,177.10 307,578.61 368,393.80 415,921.63 407,635.98 313,242.72 88,038.33 0.00 0.00 0.00 25,945.00 3300-2-09-550802-41000-E INTERFUND TRANSFERS 635,300.00 506,401.00 380,862.00 356,927.00 368,807.00 358,928.00 44,565.00 200,151.00 0.00 193,899.00 138,046.00 16,925.00 170,500.00 330-2-09-550802-41001-E HOUSING FUNDS TO RIVER PROJECT 0.00 0.00 0.00 0.00 0.00 0.00 346,809.00 0.00 148,186.00 0.00 0.00 0.00 0.00 1,885,001.18 1,812,551.75 1,794,284.10 1,816,750.61 1,844,445.80 1,833,528.48 8,196,587.54 5,582,532.22 1,009,245.43 832,697.00 602,626.00 458,727.00 336,445.00 Net Change in Fund Balance (gain) loss (48,187.81) (436,129.80) 100,788.78 275,330.61 202,302.71 235,695.78 3,027,802.90 2,243,877.97 (5,890,321.66) (46,903.41) (6,307.98) (173,059.70) (2,924.98) Beginning Fund Balance (469,848.78) (33,718.98) (134,507.76) (409,838.37) (612,141.08) (847,836.86) (3,875,639.76) (6,119,517.73) (229,196.07) (182,292.66) (175,984.68) (2,924.98) 0.00 Ending Fund Balance (518,036.59) (469,848.78) (33,718.98) (134,507.76) (409,838.37) (612,141.08) (847,836.86) (3,875,639.76) (6,119,517.73) (229,196.07) (182,292.66) (175,984.68) (2,924.98) BALANCE SHEET 3300-2-11100-B CASH IN BANK 517,938.61 537,908.93 32,944.84 134,393.17 409,536.28 734,426.16 868,913.19 141,964.42 37,862.88 229,196.07 182,292.66 175,984.68 2,924.98 3300-2-12201-B RESTRICTED ASSET - BOND TRUSTEE 97.98 86.67 73.69 114.59 302.09 9,959.92 165,755.34 5,005,000.39 6,109,458.85 0.00 0.00 0.00 0.00 3300-2-13100-B ACCOUNTS RECEIVABLE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-13600-B TAXES RECEIVABLE 1,737,292.89 2,030,553.74 1,514,360.95 1,374,506.80 1,479,362.70 1,441,442.07 1,566,106.47 788,746.51 651,714.15 765,295.59 0.00 0.00 0.00 3300-2-21100-B ACCOUNTS PAYABLE 0.00 (68,146.82) 0.00 0.00 0.00 (132,245.00) (186,831.67) (1,271,325.05) (27,804.00) 0.00 0.00 0.00 0.00 3300-2-24004-B DEFERRED REVENUE TAXES (1,737,292.89) (2,030,553.74) (1,513,660.50) (1,374,506.80) (1,479,362.70) (1,441,442.07) (1,566,106.47) (788,746.51) (651,714.15) (765,295.59) 0.00 0.00 0.00 3300-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-34000-B FUND BALANCE RESV DEBT SERVICE (518,036.59) (469,848.78) (33,718.98) (134,507.76) (409,838.37) (612,141.08) (847,836.86) (3,875,639.76) (6,119,517.73) (229,196.07) (182,292.66) (175,984.68) (2,924.98) 3300-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3300-2-39300-B BUDGETARY FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated Hinckley Drive Project - $ - $ - $ 100% A None TIFF 2016 None 194 4,597,203 $ A Tax increment is committed in the following manner: Williams Expansion 53.9% RDA Administration 2.1% RDA Housing 14.0% Flow-through to taxing entities 30.0% 100.0% ---PAGE BREAK--- Hinckley Drive OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Hinckley Drive Project June 30, 2015 Inputs & Assumptions Base year: 2001 Tax Year Expiration: 2016 Original tax base: 22,045,796 $ Anticipated tax base increment: - $ Year tax increment Available to RDA 2004 Tax rate: 0.17465% Anticipated annual rents / positive cash flow: Debt balance at June 30, 2015: - $ Anticipated future debt / negative cash flows: - $ 2001 Unavailable 22,045,796 $ - $ - $ - $ - $ - $ - $ - $ - $ 2002 Unavailable 22,045,796 - - - - - - - - 2003 Unavailable 22,045,796 - - 58,281 1,000 (58,200) - 1,081 1,081 2004 Unavailable 42,184,508 20,138,712 300,000 244,684 6,116 (7,350) - 243,450 244,531 2005 Unavailable 60,863,271 38,817,475 244,684 306,959 3,257 (62,043) (455,652) (207,479) 37,052 2006 Unavailable 62,717,373 40,671,577 306,959 379,162 7,201 (87,207) (285,832) 13,324 50,376 2007 Unavailable 62,717,373 40,671,577 379,162 516,356 9,216 - (418,056) 107,516 157,892 2008 Unavailable 69,526,362 47,480,566 516,356 560,024 14,984 (35,800) (539,057) 151 158,043 2009 Unavailable 78,314,954 56,269,158 560,024 621,027 6,663 - (619,058) 8,632 166,675 2010 Unavailable 94,922,165 72,876,369 621,027 817,921 2,153 - (798,605) 21,469 330,429 2011 Unavailable 86,278,588 64,232,792 817,921 726,698 4,076 - (731,238) (464) 187,680 2012 Unavailable 67,197,065 45,151,269 726,698 523,062 2,115 - (537,146) (11,970) 175,711 2013 Unavailable 55,172,778 33,126,982 1,030,000 395,831 2,738 - (402,715) (4,146) 171,565 2014 Unavailable 49,667,978 27,622,182 1,035,000 343,263 2,010 - (34,518) 310,755 482,320 2015 Unavailable 47,635,351 25,589,555 400,000 309,869 2,746 - (71,275) 241,340 637,097 Projected 2016 1 Unavailable 47,635,351 25,589,555 350,000 - - - - - 637,097 " 2017 1 Unavailable 47,635,351 25,589,555 350,000 - - - - - 637,097 6,878,372 $ Original TEC Increment Budget 6,878,372 (5,803,137) $ Less amount received through 2015 1,075,235 $ Projected vs. Actual 1 The 2016 Projection is based on the 2016 adopted budget. Total Original TEC Increment Budget Original TEC Increment Budget County Assessed Property Values Increment Value Projected Tax Increment Tax Increment Other Cash Inflows Debt Repayment Other Cash Outflows Net Change Cash Balance Fiscal Year ---PAGE BREAK--- Page 3 of 5 HINCKLEY DR - 3310 Change in Equity July 1 - June 30 726,698 $ Property Taxes Cash 187,680 $ 4,076 $ Interest Income A/R 657,086 $ - $ Misc Revenue Assets 844,766 $ - $ Bond Proceeds 730,774 $ Deferred Rev 657,086 $ Equity 187,680 $ Liabilities & Equity 844,766 $ 564,098 $ Tax Increment - Williams International 145,340 $ Housing Funds to River Project Beg Equity 188,144 $ 21,800 $ Interfund Trans - Admin End Equity 187,680 $ 731,238 $ Change in Equity (464) $ (464) $ Rev - Exp - $ Record of Note Payable (464) $ Change in Equity 523,062 $ Property Taxes Cash 175,711 $ 2,115 $ Interest Income A/R 471,979 $ Misc Revenue Assets 647,690 $ Bond Proceeds 525,177 $ Deferred Rev 471,979 $ Equity 175,711 $ Liabilities & Equity 647,690 $ 416,842 $ Tax Increment - Williams International 104,612 $ Housing Funds to River Project Beg Equity 187,680 $ 15,692 $ Interfund Trans - Admin End Equity 175,711 $ 537,146 $ Change in Equity (11,970) $ (11,970) $ Rev - Exp Record of Note Payable (11,970) $ Change in Equity 395,831 $ Property Taxes Cash 171,565 $ 2,738 $ Interest Income A/R 353,927 $ Misc Revenue Assets 525,491 $ Bond Proceeds 398,570 $ Deferred Rev 353,927 $ Equity 171,565 $ Liabilities & Equity 525,492 $ 311,674 $ Tax Increment - Williams International 79,166 $ Housing Funds to River Project Beg Equity 175,711 $ 11,875 $ Interfund Trans - Admin End Equity 171,565 $ 402,715 $ Change in Equity (4,146) $ (4,146) $ Rev - Exp Record of Note Payable (4,146) $ Change in Equity 2013 Balance Sheet 2013 Revenue Expenditure Revenue Expenditure 2012 Balance Sheet 2011 Revenue Expenditure 2011 Balance Sheet 2012 RDA CASHFLOW - HINCKLEY DR ---PAGE BREAK--- Page 4 of 5 343,263 $ Property Taxes Cash 395,756 $ 2,010 $ Interest Income A/R 309,313 $ - $ Misc Revenue Assets 705,069 $ 345,274 $ Deferred Rev 309,313 $ Equity 395,757 $ - $ Tax Increment - Williams International Liabilities & Equity 705,069 $ 86,564 $ Housing Funds to River Project 34,518 $ Interfund Trans - Admin Beg Equity 171,565 $ 121,082 $ End Equity 395,757 $ Change in Equity 224,192 $ 224,192 $ Rev - Exp Record of Note Payable 224,192 $ Change in Equity Revenue Balance Sheet Expenditure 2014 2014 RDA CASHFLOW - HINCKLEY DR ---PAGE BREAK--- 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 REVENUE 3310-2-11400-R PROPERTY TAX - TAX INCREMENT (309,868.76) (343,263.38) (395,831.17) (523,061.67) (726,698.29) (817,920.82) (621,027.43) (560,023.82) (516,356.24) (379,161.67) (306,959.41) (244,683.73) (58,281.09) 3310-2-61000-R INTEREST INCOME (2,746.31) (2,010.41) (2,738.46) (2,114.83) (4,075.48) (2,153.03) (6,662.92) (14,984.05) (9,216.34) (7,201.31) (3,256.53) (6,116.45) (999.50) 3310-2-72000-R MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-83000-R PRIOR YEAR FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (312,615.07) (345,273.79) (398,569.63) (525,176.50) (730,773.77) (820,073.85) (627,690.35) (575,007.87) (525,572.58) (386,362.98) (310,215.94) (250,800.18) (59,280.59) EXPENDITURES 3310-2-07-550801-13410-E CONTRACTUAL SERVICES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-07-550801-14412-E CONTINGENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-07-550801-14601-E OPERATING EXPENSES 0.00 0.00 0.00 0.00 0.00 475,559.70 0.00 427,052.78 0.00 0.00 0.00 0.00 0.00 3310-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 0.00 311,674.31 416,842.20 564,097.72 142,285.00 481,811.00 0.00 299,294.37 285,831.58 446,345.90 0.00 0.00 3310-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-08-550802-41000-E INTERFUND TRANSFER 71,275.00 121,082.00 91,041.00 120,304.00 167,140.00 180,760.00 13,042.00 147,805.00 15,491.00 87,207.00 71,349.00 7,350.00 58,200.00 3310-2-09-550802-41001-E HOUSING FUNDS TO RIVER PROJECT 0.00 0.00 0.00 0.00 0.00 0.00 124,205.00 0.00 103,271.00 0.00 0.00 0.00 0.00 71,275.00 121,082.00 402,715.31 537,146.20 731,237.72 798,604.70 619,058.00 574,857.78 418,056.37 373,038.58 517,694.90 7,350.00 58,200.00 Net Change in Fund Balance (gain) loss (241,340.07) (224,191.79) 4,145.68 11,969.70 463.95 (21,469.15) (8,632.35) (150.09) (107,516.21) (13,324.40) 207,478.96 (243,450.18) (1,080.59) Beginning Fund Balance (395,756.47) (171,564.68) (175,710.36) (187,680.06) (188,144.01) (166,674.86) (158,042.51) (157,892.42) (50,376.21) (37,051.81) (244,530.77) (1,080.59) 0.00 Ending Fund Balance (637,096.54) (395,756.47) (171,564.68) (175,710.36) (187,680.06) (188,144.01) (166,674.86) (158,042.51) (157,892.42) (50,376.21) (37,051.81) (244,530.77) (1,080.59) BALANCE SHEET 3310-2-11100-B CASH IN BANK 637,096.54 395,756.47 171,564.68 175,710.36 187,680.06 330,429.01 166,674.86 158,042.51 157,892.42 50,376.21 37,051.81 244,530.77 1,080.59 3310-2-13600-B TAXES RECEIVABLE 279,146.30 309,312.58 353,926.57 471,979.12 657,085.97 742,214.81 559,856.93 500,112.94 462,245.93 340,197.76 0.00 0.00 0.00 3310-2-21100-B ACCOUNTS PAYABLE 0.00 0.00 0.00 0.00 0.00 (142,285.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-24004-B DEFERRED REVENUE TAXES (279,146.30) (309,312.58) (353,926.57) (471,979.12) (657,085.97) (742,214.81) (559,856.93) (500,112.94) (462,245.93) (340,197.76) 0.00 0.00 0.00 3310-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-33002-B ENCUMBRANCE CONTROL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-34000-B FUND BALANCE RESV DEBT SERVICE (637,096.54) (395,756.47) (171,564.68) (175,710.36) (187,680.06) (188,144.01) (166,674.86) (158,042.51) (157,892.42) (50,376.21) (37,051.81) (244,530.77) (1,080.59) 3310-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-39200-B BUDGETARY - ESTIMATED REVENUES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3310-2-39300-B BUDGETARY FUND BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated 12th Street (ENTIRE PROJ) - $ - $ - $ 100% A 1987 TIFF 2015/2022 2000 42,685 $ #REF! A Committed to the Recreation Center Development ---PAGE BREAK--- 12th Street OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - South Wall June 30, 2015 Inputs & Assumptions Base year: 2011 Tax Year Expiration: 2023 Original tax base: 9,600,370 $ Anticipated tax base increment: 437,298 $ Year tax increment Available to RDA 2013 Tax rate: 0.01765 Anticipated annual rents / positive cash flow: - $ Anticipated future debt / negative cash flows: - $ Required Housing Contribution 0% Required Admin Contribution 0% BASE 21,109,401 $ 338,869 - $ 2015 60,578 $ 22,757,086 $ 401,663 7,500 $ 42,685 $ 74 $ (8,550) $ (1,100) $ (32,941) $ 167 $ 167 Projected 2016 61,790 $ - - 35,000 - - - - - 35,000 167 " 2017 132,257 $ - - - - - - - - 167 " 2018 134,902 $ - - - - - - - - 167 " 2019 137,573 $ - - - - - - - - 167 " 2020 140,269 $ - - - - - - - - 167 " 2021 142,991 $ - - - - - - - - 167 " 2022 145,740 $ - - - - - - - - 167 " 2023 148,517 $ - - - - - - - - 167 " 2024 151,321 $ - - - - - - - - 167 1,255,938 $ Total Projected in TEC Budget (42,685) $ Less amount received through 2015 1,213,253 $ Projected vs. Actual 1 The projection is based on the adopted budget Projected Tax Increment 1 Transfer to Housing Other Cash Outflows Fiscal Year Cash Balance Net Change Tax Increment Other Cash Flows Transfer to Admin Original TEC Budget County Assessed Property Values Increment Value ---PAGE BREAK--- Page 3 of 5 RDA - South Wall - 3340 Change in Equity July 1 - June 30 Balance Sheet 42,685 $ Property Taxes 74 $ Interest Income Cash 167 $ - $ Misc Revenue Taxes Receivable 31,914 $ 42,759 $ Assets 32,081 $ 32,941 $ Contractual Expenses Accounts Payable - $ 1,100 $ Transfer to Housing Deferred Revene 31,914 $ 8,550 $ Transfer to Admin Equity 167 $ 42,591 $ Liabilties & Equity 32,081 $ 167 $ Rev - Exp - $ Record of Note Payable Beg Equity - $ 167 $ Change in Equity End Equity 167 $ Change in Equity 167 $ 2015 Revenue 2015 Expenditure RDA CASHFLOW - South Wall ---PAGE BREAK--- 2015 REVENUE 3360-2-11400-R PROPERTY TAX - TAX INCREMENT (42,684.73) 3360-2-61000-R INTEREST INCOME (74.02) 3360-2-72000-R MISCELLANEOUS INCOME 0.00 (42,758.75) EXPENDITURES 3360-2-07-550801-13410-E CONTRACTUAL SERVICES 32,941.47 3360-2-07-550801-14412-E CONTINGENT 0.00 3360-2-07-550801-14601-E OPERATING EXPENSES 0.00 3360-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 3360-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 3360-2-09-550802-41000-E INTERFUND TRANSFERS 9,650.00 42,591.47 Net Change in Fund Balance (gain) loss (167.28) Beginning Fund Balance 0.00 Ending Fund Balance (167.28) BALANCE SHEET 3240-2-11100-B CASH IN BANK 167.28 3240-2-12200-B INVESTMENTS 0.00 3240-2-13601-B TAXES RECEIVABLE 31,913.63 3240-2-21100-B ACCOUNTS PAYABLE 0.00 3240-2-22500-B DUE TO WEBER CO-COLLECTION 0.00 3240-2-24004-B DEFERRED REVENUE TAXES (31,913.63) 3240-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 3240-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 3240-2-33001-B RES FOR CURRENT YR ENCUMBRANCE 0.00 3240-2-33002-B ENCUMBRANCE CONTROL 0.00 3240-2-34000-B FUND BALANCE TO RESV DEBT SRVC (167.28) 3270-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 3240-2-39300-B BUDGETARY - ESTIMATED REVENUE 0.00 3270-2-39300-B BUDGETARY - FUND BALANCE 0.00 (0.00) (0.00) ---PAGE BREAK--- Overview Information Year Amount of Amount of Amount of Tax Increment Total Financial Financing Source of Approximate Sales Tax Property Haircut tax Amount of Debt from Committed but not Commitment by Approved by Debt Year of RDA Year of Number of Generated Tax Generated funds Project Bonded Debt RDA to City borrowed against RDA RDA Board Repayment Expiration Debt Payoff Jobs Created If Applicable If Applicable Generated 12th Street (ENTIRE PROJ) - $ - $ - $ 100% A 1987 TIFF 2015/2022 2000 25,725 $ #REF! A Committed to the Recreation Center Development ---PAGE BREAK--- 12th Street OGDEN CITY CORPORATION RDA Cash Flow Forecast RDA District - Trackline June 30, 2015 Inputs & Assumptions Base year: 2012 Tax Year Expiration: 2033 Original tax base: 9,792,418 $ Anticipated tax base increment: 170,192 $ Year tax increment Available to RDA 2012 Tax rate: 0.01765 Required Housing Contribution 20% Required Admin Contribution 5.0% - $ 2015 - $ 12,669,815 $ 2,877,397 35,000 $ 25,725 $ 230,323 $ (5,150) $ - $ (1,234,305) $ (230,760) $ (1,214,167) $ (1,003,961) Projected 2016 13,828 $ - - 50,000 - - - - - - 50,000 (1,003,961) " 2017 99,623 $ - - - - - - - - - - (1,003,961) " 2018 99,623 $ - - - - - - - - - - (1,003,961) " 2019 220,610 $ - - - - - - - - - (1,003,961) " 2020 220,610 $ - - - - - - - - - - (1,003,961) " 2021 220,610 $ - - - - - - - - - - (1,003,961) " 2022 220,610 $ - - - - - - - - - - (1,003,961) " 2023 220,610 $ - - - - - - - - - - (1,003,961) " 2024 220,610 $ - - - - - - - - - - (1,003,961) " 2025 399,361 $ - - - - - - - - - - (1,003,961) " 2026 399,361 $ - - - - - - - - - - (1,003,961) " 2027 399,361 $ - - - - - - - - - - (1,003,961) " 2028 399,361 $ - - - - - - - - - - (1,003,961) " 2029 399,361 $ - - - - - - - - - - (1,003,961) " 2030 399,361 $ - - - - - - - - - - (1,003,961) " 2031 399,361 $ - - - - - - - - - - (1,003,961) " 2032 1 399,361 $ - - - - - - - - - (1,003,961) " 2033 399,361 $ - - - - - - - - - - (1,003,961) " 2034 399,361 $ - - - - - - - - - - (1,003,961) 5,530,344 $ Total Projected in TEC Budget (25,725) $ Less amount received through 2015 5,504,619 $ Projected vs. Actual 1 The projection is based on the adopted budget Other Cash Outflows Cash Balance Net Change Tax Increment Other Cash Flows Transfer to Admin Fiscal Year Original TEC Budget County Assessed Property Values Increment Value Projected Tax Increment 1 Developer Expenses Transfer to Housing ---PAGE BREAK--- Page 3 of 5 RDA - Trackline 3350 Change in Equity July 1 - June 30 Balance Sheet 25,725 $ Property Taxes (763) $ Interest Income Cash (1,003,961) $ 230,750 $ Inter Agency Transfer Restricted Cash 17,810 $ 335 $ Misc Revenue Taxes Receivable 23,429 $ 256,048 $ Assets (962,722) $ - $ Contractual Expenses Accounts Payable 228,016 $ 10 $ Operating Expenses Deferred Revene 23,429 $ 230,750 $ Capital Outlay - Land Equity (1,214,167) $ 1,234,305 $ Developer Expenses Liabilties & Equity (962,722) $ - $ Transfer to Housing 5,150 $ Transfer to Admin 1,470,215 $ Beg Equity - $ End Equity (1,214,167) $ (1,214,167) $ Rev - Exp Change in Equity (1,214,167) $ (1,214,167) $ Change in Equity 2015 Revenue 2015 Expenditure RDA CASHFLOW - Trackline ---PAGE BREAK--- 2015 REVENUE 3350-2-11400-R PROPERTY TAX - TAX INCREMENT (25,725.47) 3350-2-61000-R INTEREST INCOME 762.56 3350-2-72000-R MISCELLANEOUS INCOME (335.40) 3350-2-84000-R INTERAGENCY TRANSFER (230,750.00) (256,048.31) EXPENDITURES 3350-2-07-550801-13410-E CONTRACTUAL SERVICES 0.00 3350-2-07-550801-14412-E CONTINGENT 0.00 3350-2-07-550801-14601-E OPERATING EXPENSES 10.00 3350-2-07-550801-31000-E CAPITAL OUTLAY - LAND 230,750.00 3350-2-07-550801-33001-E DEVELOPER COSTS 1,234,305.16 3350-2-08-550802-22100-E DEBT SERVICE - PRINCIPAL 0.00 3350-2-08-550802-22200-E DEBT SERVICE - INTEREST 0.00 3350-2-09-550802-41000-E INTERFUND TRANSFERS 5,150.00 1,470,215.16 Net Change in Fund Balance (gain) loss 1,214,166.85 Beginning Fund Balance 0.00 Ending Fund Balance 1,214,166.85 BALANCE SHEET 3240-2-11100-B CASH IN BANK (1,003,960.87) 3350-2-11500-B RESTRICTED CASH - HUD 108 17,809.77 3240-2-12200-B INVESTMENTS 0.00 3240-2-13601-B TAXES RECEIVABLE 23,428.69 3240-2-21100-B ACCOUNTS PAYABLE (228,015.75) 3240-2-22500-B DUE TO WEBER CO-COLLECTION 0.00 3240-2-24004-B DEFERRED REVENUE TAXES (23,428.69) 3240-2-31000-B REVENUE CONTROL ACCOUNTS 0.00 3240-2-32000-B EXPENSE CONTROL ACCOUNTS 0.00 3240-2-33001-B RES FOR CURRENT YR ENCUMBRANCE (885,261.64) 3240-2-33002-B ENCUMBRANCE CONTROL 0.00 3240-2-34000-B FUND BALANCE TO RESV DEBT SRVC 2,099,428.49 3270-2-39100-B BUDGETARY - APPROPRIATIONS 0.00 3240-2-39300-B BUDGETARY - ESTIMATED REVENUE 0.00 3270-2-39300-B BUDGETARY - FUND BALANCE 0.00 0.00 0.00