Item A: Downtown Financing Strategy

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Project Funding Details Downtown Urban Renewal District to Fund Projects 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. $ In Millions FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Totals SOURCES Beginning Balance $4.0 $1.8 $1.5 $1.3 $1.4 $1.5 $1.6 $1.7 $1.9 $4.0 Urban Renewal Tax Increment Funds* $2.0 $2.0 $2.1 $2.2 $2.2 $2.2 $2.3 $2.3 $0.0 $17.4 General Fund Revenue* $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.9 $0.9 Debt Issued $7.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $7.7 Local Option Levy Proceeds $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 Total Sources $13.7 $3.9 $3.7 $3.5 $3.6 $3.7 $3.9 $4.1 $2.8 $30.0 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 $11.0 Police Officers $0.7 $0.8 $0.8 $0.8 $0.8 $0.8 $0.9 $0.9 $0.9 $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 $0.3 Project Administration $0.0 $0.2 $0.2 $0.1 $0.1 $0.1 $0.1 $0.1 $0.1 $0.7 Debt Service $0.0 $1.2 $1.2 $1.2 $1.2 $1.2 $1.2 $1.2 $1.2 $9.9 Total Uses $11.9 $2.2 $2.3 $2.1 $2.1 $2.1 $2.1 $2.2 $2.2 $29.2 Ending Balance** $1.8 $1.5 $1.3 $1.4 $1.5 $1.6 $1.7 $1.9 $0.6 *Including interest earnings on fund balance. **In this scenario, one year of debt service is kept in reserve to protect the General Fund until the debt is paid off. The reserve is used to make the final payment.