east liberty station: realizing the potential - City of Pittsburgh

Appendix II - elTRID
Potential TRID Debt - Eastside III & IV TOD Project
Balance
Available After
Debt Service
Payment (1)
Cumulative
Available Cash
AFTER Debt
Service (2)
Cash to
Developer
Repayment
Pledged Tax
Increment Available Debt Service
Cash to TRID
VC Fund
1 - - - - - -
2 209,936 - 209,936 209,936 - -
3 352,530 - 352,530 562,466 - -
4 575,084 356,296 218,788 781,254 164,091 54,697
5 575,084 356,296 218,788 1,000,041 164,091 54,697
6 575,084 356,296 218,788 1,218,829 164,091 54,697
7 575,084 356,296 218,788 1,437,616 164,091 54,697
8 575,084 356,296 218,788 1,656,404 164,091 54,697
9 575,084 356,296 218,788 1,875,192 164,091 54,697
10 575,084 356,296 218,788 2,093,979 164,091 54,697
11 575,084 356,296 218,788 2,312,767 164,091 54,697
12 575,084 356,296 218,788 2,531,554 164,091 54,697
13 575,084 356,296 218,788 2,750,342 164,091 54,697
14 575,084 356,296 218,788 2,969,129 164,091 54,697
15 575,084 356,296 218,788 3,187,917 164,091 54,697
16 575,084 356,296 218,788 3,406,705 164,091 54,697
17 575,084 356,296 218,788 3,625,492 164,091 54,697
18 575,084 356,296 218,788 3,844,280 164,091 54,697
19 575,084 356,296 218,788 4,063,067 164,091 54,697
20 575,084 356,296 218,788 4,281,855 164,091 54,697
NPV = 4,624,045
10,338,887 6,057,032 2,789,542 929,847
Assumptions
Principal 3,250,000
Interest 8.00% per Year Cash Flow 575,084
Term 20 Years w/ coverage 383,389
Ammoritization 17 Years w/ coverage - fees 368,389
Debt Service 356,296 PV 3,360,312
DCR 1.50
(1) Anticipated Cash Flow After Debt Service would be used to reimburse eligible project costs and flow to the elTRID VC Fund.
(2) Cumulative Cash Flow could alternatively be used to prepay TRID Debt.