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<br />Potential Financing Approach
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<br />Potential Funding Approach – Rough Estimates
<br /> Funding Sources
<br />URA - Tax URA –
<br />Increment HUD Section DT Loan
<br /> Funds BEDI Grant Program Totals
<br />108 Loan
<br /> Amount Available $ 4,000,000 $ 7,895,000 $ 2,000,000 $2,000,000 $ 15,895,000
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<br />Use of Funds
<br /> Purchase Centre Ct & Hole – Sell to Beam with Note ($2,800,000) ($2,800,000)
<br /> Loan to Beam at Completion of Construction ($5,000,000) ($5,000,000)
<br /> Additional Costs for Beam Project Unknown
<br /> Loan Loss Reserve for HUD 108 Borrowing ($2,000,000) ($2,000,000)
<br />1
<br /> Other City Project Costs & Contingency ($2,000,000) ($95,000) ($2,095,000)
<br /> Subtotal for Beam Project ($2,000,000) ($7,895,000) ($2,000,000) $0 $11,895,000
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<br />Potential Balance -
<br />Other Possible Projects$ 2,000,000 $0 $0 $2,000,000 $4,000,000
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<br />Other Potential Uses
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<br />Additional Costs for Beam unknown
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<br />Diamond $ 300,000
<br />
<br />DIVA to Shawmed $ 3,150,000
<br />Roberts - Taco Time $ 1,200,000
<br />Scan Design $ 1,900,000
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<br />1
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<br />Includes discounted Beam purchase price for Centre Court & Hole, construction period interest for HUD Section 108 borrowing and other loan fees, project
<br />
<br />management, and contingency.
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