east liberty station: realizing the potential - City of Pittsburgh

Appendix II - elTRID
Potential TRID Debt w/ Income Tax Increment - 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 - -
3 575,084 - 575,084 785,019 - -
4 945,694 602,962 342,732 1,127,751 257,049 85,683
5 945,694 602,962 342,732 1,470,483 257,049 85,683
6 945,694 602,962 342,732 1,813,215 257,049 85,683
7 945,694 602,962 342,732 2,155,947 257,049 85,683
8 945,694 602,962 342,732 2,498,679 257,049 85,683
9 945,694 602,962 342,732 2,841,411 257,049 85,683
10 945,694 602,962 342,732 3,184,143 257,049 85,683
11 945,694 602,962 342,732 3,526,875 257,049 85,683
12 945,694 602,962 342,732 3,869,607 257,049 85,683
13 945,694 602,962 342,732 4,212,339 257,049 85,683
14 945,694 602,962 342,732 4,555,071 257,049 85,683
15 945,694 602,962 342,732 4,897,803 257,049 85,683
16 945,694 602,962 342,732 5,240,535 257,049 85,683
17 945,694 602,962 342,732 5,583,267 257,049 85,683
18 945,694 602,962 342,732 5,925,999 257,049 85,683
19 945,694 602,962 342,732 6,268,731 257,049 85,683
20 945,694 602,962 342,732 6,611,463 257,049 85,683
NPV = 7,484,323
16,861,817 10,250,354 4,369,833 1,456,611
Assumptions
Principal 5,500,000
Interest 8.00% per Year Cash Flow 947,694
Term 20 Years w/ coverage 631,796
Ammoritization 17 Years w/ coverage - fees 616,796
Debt Service 602,962 PV 5,626,190
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.