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<br /> <br /> <br /> <br />Urban Renewal Cash: The cash balances in the urban renewal funds, plus cash that becomes <br />available over the next few years, would be used to pay for transaction costs associated with <br />BEDI/108 project #2. <br /> <br />Downtown Revitalization Loan Program: The Downtown Urban Renewal District has a loan <br />program called the Downtown Revitalization Loan Program (DRLP). A $350,000 <br />predevelopment loan to Beam has already been committed from this program. <br /> <br />3. Project Structure & Participants <br /> <br />a. Principal Developer: <br />Beam is responsible for the rehabilitation of the Centre Court building. The Purchase and Sale <br />Agreement fully delineates the obligations of the developer including the form and character of <br />the development, timing, the mix of uses, private financing and equity, and other obligations <br />including those associated with federal program compliance. <br /> <br />b. Developer’s Contractor & Leasing Agency: <br />Beam’s contractor is John Hyland Construction, Inc., a local and reputable general contractor. <br />Beam will be responsible for securing leases for the building and is currently working with <br />Evans, Elder and Brown, Inc., local commercial real estate brokers. <br /> <br />c. Private Funds Source: <br />Beam equity will originate from company cash and Business Energy and Historic tax credits, as <br />applicable. <br /> <br />d. Asset Ownership Upon Completion: <br />Beam will maintain ownership of the Centre Court building during and after rehabilitation. <br /> <br />e. Borrower: <br />The City of Eugene will act as borrower for the Section 108 loan funds. The City has entered <br />into an agreement with the URA to carry out the project. (The URA would lend Section <br />108/BEDI funds to Beam for the rehabilitation of the building.) <br /> <br />4. Repayment Schedule <br /> <br /> <br />YearPrincipal RepaymentYearPrincipal Repayment <br />1$ -11$ 288,000 <br /> <br /> <br />2$ -12$ 288,000 <br /> <br />3$ 288,000 13$ 288,000 <br /> <br />4$ 288,000 14$ 288,000 <br /> <br />5$ 288,000 15$ 288,000 <br /> <br />6$ 288,000 16$ 288,000 <br /> <br />7$ 288,000 17$ 288,000 <br /> <br />8$ 288,000 18$ 288,000 <br /> <br />9$ 288,000 19$ 288,000 <br />10$ 288,000 20$ 293,000 <br />Total$ 5,189,000 <br /> <br />2 <br />