Item A: Downtown Financing Strategy

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Cash Flow Details Use Existing Resources to Fund Projects and Eliminate Downtown Urban Renewal District Tax Increment Financing Note: In order to show the full picture of what happens over time in this scenario, this cash flow double-counts debt (principal) proceeds: first, as an amount available to spend on projects, and second, as the debt is repaid over time. Debt Pmts $ In Millions FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20-31 Totals SOURCES Beginning Balance $0.0 $0.7 $0.4 $0.1 $0.1 $0.2 $0.3 $0.4 $0.5 $0.0 $0.0 Urban Renewal Tax Increment Funds $4.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $4.3 General Fund Revenue $1.3 $1.4 $1.4 $1.5 $1.5 $1.6 $1.6 $1.7 $1.7 $7.3 $21.1 Debt Issued $7.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $7.0 Local Option Levy Proceeds $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 GO Bond Property Taxes for Debt Service Pmts $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 Total Sources $12.6 $2.1 $1.8 $1.6 $1.7 $1.8 $1.9 $2.1 $2.3 $7.3 $32.4 USES LCC, VA, Farmers Market Project Costs $11.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $11.0 Police Officers $0.7 $0.8 $0.8 $0.8 $0.8 $0.8 $0.9 $0.9 $0.9 $0.0 $7.3 Debt Issuance, Legal & Professional Services $0.2 $0.1 $0.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.3 Project Administration $0.0 $0.2 $0.2 $0.1 $0.1 $0.1 $0.1 $0.1 $0.1 $0.0 $0.7 Debt Service $0.0 $0.6 $0.6 $0.6 $0.6 $0.6 $0.6 $0.6 $0.6 $7.3 $12.2 Total Uses $11.9 $1.6 $1.6 $1.5 $1.5 $1.5 $1.5 $1.5 $1.6 $7.3 $31.5 Ending Balance $0.7 $0.4 $0.1 $0.1 $0.2 $0.3 $0.4 $0.5 $0.7 Note: Numbers may not add due to rounding.