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Public and Private Shares of Investment
<br />Without Tax Exemption With Tax Exemption
<br />AmountPercent Amount Percent
<br />PUBLIC INVESTMENT
<br />
<br /> Development Expenditures
<br /> Property Acquisition, Etc. $9,400,000 $9,400,000
<br /> Public Parking Garage 13,500,000 13,500,000
<br /> Low Income Housing Loan 1,300,000 1,300,000
<br /> Total Development Expenditures $24,200,000 $24,200,000
<br /> Other City Expenditures 1,420,000 1,420,000
<br /> Low Income Housing Exemption 0 5,500,000
<br /> MUPTE 0 4,700,000
<br /> Total Public Investment $25,620,00013.7% $35,820,000 18.1%
<br />
<br />PRIVATE INVESTMENT*
<br />
<br /> Total Project Cost $187,420,000$197,620,000
<br /> Less: Public Investment -25,620,000 -35,820,000
<br /> Net Private Investment $161,800,00086.3% $161,800,000 81.9%
<br />
<br />TOTAL PROJECT COST
<br />$187,420,000$197,620,000
<br />
<br />*Public and private financing contributions are shown excluding interest payments.
<br />Preliminary Finance Plan Assumptions:
<br />A potential finance plan for the project
<br />example is included in the chart below. Given the assumptions made in this preliminary plan,
<br />the Downtown District has the resources to pay for most of the costs of this development through
<br />the use of urban renewal funds, Downtown Revitalization Loan Program funds, BEDI grant
<br />funds and HOME funds. The example also relies on about $1.2 million from the City, which
<br />could come in the form of a cash contribution or a /general fund guarantee of Agency
<br />borrowings.
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