east liberty station: realizing the potential - City of Pittsburgh

Appendix II - elTRID
Potential TRID Debt w/ Additional Increment from VC Fund - Eastside III & IV TOD Project
Pledged Tax
Pledged Tax
Increment
Available From Total Increment
Balance Available
After Debt Service
Cumulative
Available Cash
AFTER Debt
Cash to
Developer
Increment Available VC Fund Available Debt Service Payment (1) Service (2)
Repayment
1 - - - - - - -
2 209,936 75,000 284,936 - 284,936 284,936 -
3 352,530 100,000 452,530 496,165 -43,635 241,301 -
4 575,084 200,000 775,084 496,165 278,919 520,220 209,189
5 575,084 200,000 775,084 496,165 278,919 799,138 209,189
6 575,084 200,000 775,084 496,165 278,919 1,078,057 209,189
7 575,084 200,000 775,084 496,165 278,919 1,356,975 209,189
8 575,084 200,000 775,084 496,165 278,919 1,635,894 209,189
9 575,084 200,000 775,084 496,165 278,919 1,914,813 209,189
10 575,084 200,000 775,084 496,165 278,919 2,193,731 209,189
11 575,084 200,000 775,084 496,165 278,919 2,472,650 209,189
12 575,084 200,000 775,084 496,165 278,919 2,751,568 209,189
13 575,084 200,000 775,084 496,165 278,919 3,030,487 209,189
14 575,084 200,000 775,084 496,165 278,919 3,309,405 209,189
15 575,084 200,000 775,084 496,165 278,919 3,588,324 209,189
16 575,084 200,000 775,084 496,165 278,919 3,867,243 209,189
17 575,084 200,000 775,084 496,165 278,919 4,146,161 209,189
18 575,084 200,000 775,084 496,165 278,919 4,425,080 209,189
19 575,084 200,000 775,084 496,165 278,919 4,703,998 209,189
20 575,084 200,000 775,084 496,165 278,919 4,982,917 209,189
NPV = 6,215,939
10,338,887 8,930,970 3,556,212
Assumptions
Principal 4,650,000
Interest 8.00% per Year Cash Flow 775,084
Term 20 Years w/ coverage 516,722
Ammoritization 18 Years w/ coverage - fees 501,722
Debt Service 496,165 PV 4,702,086
DCR 1.50
(1) Anticipated Cash Flow After Debt Service would be used to reimburse eligible project costs or flow back to elTRID VC Fund.
(2) Cumulative Cash Flow could alternatively be used to prepay TRID Debt.