east liberty station: realizing the potential - City of Pittsburgh

Appendix IV - elTRID
Potenital TRID Debt - Fromer Reizenstein School Redevelopment Project
Pledged Tax
Increment Available
- Phase I Debt Service
Balance
Available After
Debt Service
Payment (1)
Cumulative
Available Cash
AFTER Debt
Service (2)
Pledged Tax
Increment Available
for VC Fund- Phase
II (3)
1 - - - - -
2 - - - - -
3 306,668 - 306,668 306,668 -
4 760,437 685,184 75,253 381,920 -
5 1,067,104 685,184 381,920 763,841 -
6 1,067,104 685,184 381,920 1,145,761 -
7 1,067,104 685,184 381,920 1,527,682 163,557
8 1,067,104 685,184 381,920 1,909,602 588,703
9 1,067,104 685,184 381,920 2,291,522 588,703
10 1,067,104 685,184 381,920 2,673,443 588,703
11 1,067,104 685,184 381,920 3,055,363 588,703
12 1,067,104 685,184 381,920 3,437,283 588,703
13 1,067,104 685,184 381,920 3,819,204 588,703
14 1,067,104 685,184 381,920 4,201,124 588,703
15 1,067,104 685,184 381,920 4,583,045 588,703
16 1,067,104 685,184 381,920 4,964,965 588,703
17 1,067,104 685,184 381,920 5,346,885 588,703
18 1,067,104 685,184 381,920 5,728,806 588,703
19 1,067,104 685,184 381,920 6,110,726 588,703
20 1,067,104 685,184 381,920 6,492,646 588,703
21 588,703
22 588,703
23 588,703
24 588,703
25 588,703
NPV = 7,744,989
18,140,774 11,648,128 10,760,211
Assumptions
Principal 6,250,000
Interest 8.00% per Year Cash Flow 1,067,104
Term 20 Years w/ coverage 711,403
Ammoritization 17 Years w/ coverage - fees 696,403
Debt Service 685,184 PV 6,352,333
DCR 1.50
(1) Anticipated Cash Flow After Debt Service would be used to reimburse eligible project costs.
(2) Cumulative Cash Flow could alternatively be used to prepay TRID Debt.
(3) Phase II increment diverted to TRID VC Fund.