HomeMy WebLinkAbout27 - Facilities Financing Plan ReviewCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 27
November 24, 2009
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Administrative Services Department
Dennis C. Danner, Administrative Services Director
(949) 644 -3123 or ddanner(a newportbeachca.gov
Richard C. Kurth, Deputy Administrative Services Director
(949) 644 -3124 or dkurth(c)newportbeachca.gov
SUBJECT: Facilities Financing Plan Review
RECOMMENDATION:
Receive, discuss and accept the Facilities Financing Plan (FFP) - Attachment A.
DISCUSSION:
Background:
In early 2006, the City Council formed an ad hoc Facilities Finance Review Committee
for the purpose of reviewing the City's facility replacement needs and to make
recommendations for financing the identified facility replacement costs. The City
Council accepted the Committee's recommendations on May 23, 2006. Two (of 12) of
the Committee's recommendations to the Council included:
• A regular review of the Facilities Financing Plan as part of the budget review
process, at any other time as an actual project is being considered for design
and funding, and at any time the long -term plan deviates from the financing
schedule adopted by the City Council, and;
• The annual General Fund contribution to the Facilities Replacement Plan should
be capped at 5% of General Fund revenues (appropriations) during any fiscal
year.
The City Council Finance Committee reviewed the FFP several times over the past few
years as construction plans were made for the OASIS Senior Center facility and as
budget assumptions for the Civic Center Project were updated. In addition, the City
Council reviewed the Plan as part of its regular annual goal setting process in 2008 and
Facilities Financing Plan Review
November 24, 2009
Page 2
2009 and most recently reviewed the Plan as part of its budget review process for the
FY 2009 -10 City Budget.
The most recent review of the FFP by the City's Finance Committee occurred on
November 9, 2009. At that meeting the Plan was updated with actual expenditures for
FY 2008 -09, revised General Fund appropriation estimates for outgoing fiscal years,
and new construction cost estimates for the Civic Center Project. The amount included
in the updated Plan for the Civic Center Project is $105,000,000.
Based on these revised construction estimates and updated General Fund
appropriation projections, it appears the City can accomplish its long -term facility
replacement needs and remain at, or below, the required 5% General Fund contribution
limit to the Plan.
Environmental Review:
The City Council's approval of this item does not require environmental review.
Public Notice:
The agenda item has been noticed according to the Brown Act (72 hours in advance of
the meeting at which the City Council considers the item).
Funding Availability:
N/A
Alternatives:
N/A
Prepared by:
Richard C. Kurth
Deputy Administrative Services Director
Submitted by:
ennis C. Danner
Administrative Services Director
Attachment A: Facilities Financing Plan Spreadsheet
FACILITY REPLACEMENT PLANNING WORKSHEET Nov. 24, 2009 (Final)
Net Balance in Infrastructure Fund Balan
Projected General Eund Operating Expenditures & CIPs "OpBud" 3% annual increase (long to
Ratio of Debt Service to Annual General Fund Operating Bud
Ratio of Level Payment Plan to Annual General Fund Operating Bud
______________________ _______________________________
Special Funding from Development Fees. Contributions, or Other Non - Recurring Sources
Irvine Company Park Fees
Irvine Company Public Benefit -430 Units at $31,500 each
North Newport Center (pd at issuance of first bldg permit)
Hoag Pledge for OASIS
Other OASIS Contributions (Includes Friends of OASIS)
Girl Scouts (assumed full cost of Marine Park GS Facility)
Hyatt Newporter Development Agreement
Hoag Development Agreement
Assumed 50% funding from Theatre /Arts Support Group (undefined at this time) to support Ensign project.
Projected Annual Toll
Yr.
Approx.
Needed
Projected
Time
Location / Name
Built
SQFT
Age
SQFT
Cost
Frame
Civic Center Site Excavation
N/A
2841k cu yds
$1,641,992
2009 -10
Complex San Miguel Pedestrian Bridge
N/A
N/A
$0
2009 -10
Total cost est. City Office Building and South Park (Includes EOC)
N/A
93,610
$56,467,298
2009 -10
$104,972,159 Parking Structure
N/A
450 pk spcs
$12,621,406
2009 -10
Main (Central) Park Parcel
NIA
186,012
$4,616,351
2009 -10
North Park Improvements
N/A
138,839
$3,313,702
2009 -10
Library Connection
N/A
N/A
$3,545,892
2009 -10
Library Expansion
N/A
17,135
$2,674,971
2009 -10
Less 10% for bid climate savings
N/A
N/A
- $8,488,161
2009 -10
Above the Line (ATL) Markups (23 %)
N/A
N/A
$10,847,870
2009 -10
Soft Markups (23.16% of ATL +Direct Costs)
N/A
N/A
$17,730,8382009
-10
Police Station Police Station
1974
47,964
35
60,000
$58,125,000
2025 -26
Police Parking Structure (250)
N/A
$6,250,000
2025 -26
Fire Stations Fire Station #1 (Peninsula)
1962
3,423
47
10,000
$7,000,000
2025 -26
Fire Station #2 (Lido)
1952
9,953
57
10,000
$7,000,000
2013 -14
Fire Station #3 (Santa Barbara)
1971
13,605
38
13,605
$9,800,000
2031 -32
Fire Station #5 (Corona Del Mar)
1948
2,095
61
10,000
$7,000,000
2021 -22
Fire Station #6 (Mariners)
1958
2,926
51
10,000
$7,000,000
2031 -32
Potential Crystal Cove Fire Station #9
N/A
3,000
0
10,000
$7,000,000
2035 -36
Lifeguard Headquarters
1958
4,339
51
10,000
$7,500,000
2021 -22
Libraries Balboa
1929
5,566
80
12,000
$6,000,000
2025 -26
Corona Del Mar
1950
4,055
59
4,000
$3,000,000
2020 -21
Parks; Park West'Neivpgrt CdtfimUnity COWr:: : : A:
1976
11,980
33
15,000
$7,500,0002031
-32
Development OASIS Sr. Citizens Center
1950
10,200
59
40,000
$15,445,555
2008 -09
Projects; & Ensign Theater Arts Center -
1973
8,042
36
12,000
$6,000,000
2035 -36
Community Sunset Ridge Park
N/A
15 acres
N/A
N/A
$10,000,000
2013 -14
Centers Marina Park (Less Structures ) :::::::::::::::::::::::::::
N/A
10 acres
N/A
N/A
$6,000,000
2012 -13
Marina - Marina Park
N/A
0
N/A
N/A
$8,500,000
2012 -13
Sailing Aquatic Center - Marina Park -
N/A
0
N/A
11,100
$5,800,000
2012 -13
Balboa Community Center - Marina Park
1956
2,742
53
10,200
$5,800,00012012-13
Girl Scouts Clubhouse Marina Park
1940
3,931
69
4,000
$2,000,000
2012-13
_
1950s
55+
�
$6,000,000
2024-25
�M))isc.
38.#t�M.!�Ns'33#F�3# • ^.....c.. .. .",wr -..
$
�"'mm*
�<
sw__.. > H ....�.
Totals
1 $303,692,714
Key Assumptions Regarding the 2009 -10 Facilities Replacement Plan
Estimated cost inc
1. Only General Fund projects are addressed.
Project Management (�
a. Funding for replacement of facilities not expected to be initiated within 20 years is not specifically
quantified, but continuation of annual budget contributions from General Fund in the pattern established
$166,206,472
COP Financ
should be adequate to fund existing facility replacements over the long term. New facilities are not included
unless specifically identified.
Amo
b. Potential expenses for dredging are not included. Whatever portion of such expense that is not
Rese
covered by outside Grants will have to be budgeted as part of the ongoing annual Capital Improvement
Other(
Project program.
Tc
c. Expenses for land acquisition are not included unless identified as part of the project.
Total Reserve gala
2. Estimated project costs are based on current time -frame estimates by Public Works.
COP Payments
a. Construction cost increase projections are flat until 2010 -11, then gradually rise over a three year
period to an ongoing annual increase of 3 %. Costs projections are revised annually.
b. As a general rule, construction expenditures for a project are projected to take place over three years
as follows: 10% first year; 55% second year; 35% third year. As projects become more imminent and more
specific cost breakouts become available, refined figures will be used.
c. Project management costs are estimated at 50/b of expenditures in any given year.
Tc
3. Except for funding actually in hand from Contributions or Development Agreements specifically dedicated to
Existing Library COP Debt Ser
given projects, COPS are expected to be issued to cover project costs.
a. COP "sold to yield" interest rate is projected to be 5.15% for the first Issue and 5% thereafter.
b. Reserve requirement will be approximately one year's debt service.
c. Cost of Issuance (COI) is estimated at $200,000 per issue, plus 20bps of Debt Service for Insurance,
plus $7.50 per Certificate for Underwriter's Discount
Startino Baler
d. The term will be 30 years in each case. Final debt service payment will be covered by the Reserve
Fund.
COP Proce
4. General Fund contributions over the first two years will be $3.5 million and $2.5 million, then will increase to an
Special Cash Infusions (details be
ongoing level not to exceed 5% of the GF Operating Budget.
Annual GF Budget Contribut
a. Service levels supported by the Operating Budget should not be adversely impacted.
Tc
b. Contingency, Stabilization, and Designated Reserve Requirements must be maintained.
Construction & Mgt. Cc
5. City earnings on temporarily idle funds are projected at 2% in the near term, gradually increasing to an ongoing
COP Payns
rate of 4.5% after seven years.
Interest Earnings on Fund Bala
6. Anticipated revenue from Development Agreements and pledged contributions are shown along the bottom of
Net COP Financing C
the table. Revenue of this type is not included unless it is well - established. A "most conservative date" policy is
Tr
used for projecting actual time of receipt of funds within the range specified in the agreement or pledge.
Net Balance in Infrastructure Fund Balan
Projected General Eund Operating Expenditures & CIPs "OpBud" 3% annual increase (long to
Ratio of Debt Service to Annual General Fund Operating Bud
Ratio of Level Payment Plan to Annual General Fund Operating Bud
______________________ _______________________________
Special Funding from Development Fees. Contributions, or Other Non - Recurring Sources
Irvine Company Park Fees
Irvine Company Public Benefit -430 Units at $31,500 each
North Newport Center (pd at issuance of first bldg permit)
Hoag Pledge for OASIS
Other OASIS Contributions (Includes Friends of OASIS)
Girl Scouts (assumed full cost of Marine Park GS Facility)
Hyatt Newporter Development Agreement
Hoag Development Agreement
Assumed 50% funding from Theatre /Arts Support Group (undefined at this time) to support Ensign project.
Projected Annual Toll
Worksheet Estimate for
Construction Related Expenditures
2008 -09 2009 -10 ** 201
$1,009,000
$694,415
$2,175
$30,179
$714,053 $3,927,289 $2,499,184
1282,350
$8,495,055
$4,668,150
$71,886,522
6243,301
$1,000,000
$5,500,000
$3,256.699
$5,118,320
5250.000
$500,000
$3,433,572
$2,059,287
6250,000
$500,000
$3,925,000
$3,825,000
$11.558
$500;000
52,070,752
$2,366,574
$861,551
$100,000
$500,000
-
$2,070,752 -
$2,366,574
$879,109
$0 $6,372,362
$6,372,362
$11,490,683
$714,053
$816.060
$510,038
,dines that are not listed abq 'm:" - -_- - -;.,m - -_ ^• -- , -:_ , ^• -- •••,^ - - -m : »m
��33E. FF:. �E FS3#< FF: i�FF" aS3E. FF:. 3EE FS3#< FF: i�FF" aS3E. FF:. �E FS3#< FF: i�F�S3E. FF:. �E FS3#< FF: i�FF" aS3 E.FF:.�EFS3 #FFF:i�F83S3E.FF:.�E 963 #FFF:r�FB`iS3E.FF:.�E 963 #FFF:r�F83S3E.FF:.�E 963 # <FF:r�FB`iSC.FF:.�E963 # <FF:i
$4,969,979 $21,992,271 $61,659,020 $49,227,365 $21,548,671 $6,809,167 $0 $0 $0 $0
rease factor (3% average over long -term) 1.005 1.020 1.040 1.066 1.098 1.131 1.165 1.200
$248,499 $1,099,614 $3,082,951 $2,461,368 $1,077,434 $340,458 $0 $0 $0 $0
Cash Flow Projection Worksheet
unt
$90,388,117
$71,886,522
me
$6,372,362
$5,118,320
101
$1,058,687
$882,922
ltal
$97,819,166
$77,887,764
mce
$0 $6,372,362
$6,372,362
$11,490,683
$11,490,683
$11,490,683
$11,490,683
$11,490,683
$11,490,683
$11,490,683
A
- $6,472,493
- $6,472,493
- $6,472,493
- $6,472,493
- $6,472,493
- $6,472,493
- $6,472,493
- $6,472,493
B
- $5,066,711
$5,066,711
- $5,066,711
45,066,711
- $5,066,711
- $5,066,711
C
D
E
F
ttal
- $6,472,493
- $6,472,493
- $11,539,204
- $11,539,204
- $11,539,204
- $11,_539,204
- $11,539,204
- $11,539,204
vice
- 565000 - $565,000
- $562,530
- $564,480
- $564,480
- $565,463
- $565,448
- $584,645
- $584,645
- $584,645
Cash Flow Analysis -- Facility Replacement Fund — "Level Payment Plan"
ice: $20,000,000 $26,443,245 $98,048,102 $32,879,407 $54,399,151 $43,335,760 $42.888,881 $41,583,658 $44,370,532 $48,587,918
Cash In
ads $0 $90,388,117 $0 $71,886,522 $0 $0 $0 $0 $0 $0
4ow) $8,100,000 $1,000,000 $1,000,000 $2,249,755 $16,355,351 $10,260,539 $0 $3,646,512 $4,410,000 $0
ion $3,500,000 $2,500,000 $3,800,000 $4,717,474 $5,684,757 $6,729,371 $8,525,326 $8,754,692 $8,991,686 $9,261,437
ttal $11,600,000 $93,888,117 $4,800,000 $78,853,751 $22,040,108 $16,989,910 $8,525,326 $12,401,204 $13,401,686 $9,261,437
Cash Out
lsts - $5,218,478 - $23,091,885 - $64,741,971 - $51,688,733 - $22,626,104 - $7,149,625 $0 $0 $0 $0
ants - $565,000 - $565,000 - $7,035,023 - $7,036,973 - $12,103,684 - $12,104,667 - $12,104,652 - $12,123,849 - $12,123,849 - $12,123,849
mce $626,723 $1,373,624 $1,808,299 $1,391,699 $1,626,291 $1,817,503 $2,274,103 $2,509,520 $2,939,549 $2,647,515
;ost $61,723 $808,624 - $5,226,724 - $5,645,274 - $10,477,393 - $10,287,164 - $9,830,550 - $9,614,329 - $9,184,300 - $9,276,334
AM - $5,156,755 - $22,283,260 - $69,968,695 - $57,334,007 - $33,103,498 - $17,436,789 - $9,830,550 - $9,614,329 - $9,184,300 - $9,276,334
;7 ®®®®® 7os®® a���____________ ______________________________.
$ 152, 489,482 $151,362.760 $154,212,760 $157,249,143 $162,421,617 $168,234,266 $171,191,294 $175,797,032 $180,555,943 $185,972,622
get 0.37% 0.37% 4.56% 4.48% 7.45% 7.20% 7.08% 6.90% 6.71% 6.52%
get 2.30% 1.65% 2.46% 3.00% 3.50% 4.00% 4.98% 4.98% 4.98% 4.98%
2008 -09 2009 -10 ** 2010 -11 2011 -12 2012 -13
$5,600,000 $1,953,488
$13,545,000
$500,000 $500,000 $1,500,000
$1,000,000 $500,000 $500,000
$1,500,000
2013 -14 2014 -15 2015 -16 2016 -17 2017 -18
$4,725,000
$749,755 $856,863 $535,539
$5,000,000
$3,646,512
$4,410,000
AS $8,100,000 $1,000,000 $1,000,000 $2,249,755 $16,355,351 $10,260,539 $0 $3,646,512 $4,410,000 $0
* *Annual Revenue decrease of approximately $700,000 commences with start of Marina Park project (spread over two years)
2018 -19 2019 -20 2020 -21 2021 -22 2022 -23 2023 -24 2024 -25 2025 -26 2026 -27 2027 -28
$8,838,240 $48,610,321 $30,933,841
$950,348 $5,226,916 $3,326,219
$1,064,390 $5,854,146 $3,725,366
$865,447 $4,759,957 $3,029,063
$955,082 $5,252,952 $3,342,788
$912,334 $5,017,840 $3,193,171
$370,906 $2,039,981 $1,298,170
$1,236,352 $7,755,020 $9,580,185 $3,342,788 $0 $0 $0 $11,765,313 $64,709,224 $41,178,597
1.236 1.273 1.312 1,351 1.392 1.433 1.476 1.521 1.566 1.613
$61,818 $387,751 $479,009 $167,139 $0 $0 $0 $588,266 $3,235,461 $2,058,930
C D
$23,010,063 $123,535,791
$1,638,316 $8,832,809
$418,596 $1,373,590
$25,066,975 $133,742,190
$11,490,683 $13,128,999 $13,128,999 $13,128,999 $13,128,999 $13,128,999 $13,128,999 $13,128,999 $21,961,808 $21,961,808
- $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493
- $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711
- $1,630,643 - $1,630,643 - $1,630,643 $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643
- $8,700,121
- $11,539,204 - $11,539,204 - $13,169,847 - $13,169,847 - $13,169,847 - $13,169,847 - $13,169,847 - $13,169,847 - $13,169,847 - $21,869,968
- $584,845 - $584,645 - $563,047 - $563,047
$48,573,020 $51,930,419 $67,930,867 $57,826,782 $54,281,908 $55,068,918 $56,227,935 $57,785,795 $47,740,815 $110,189,286
$0 $23,010,063 $0 $0 $0 $0 $0 $0 $123,535,791 $0
$4,410,000 $0 $0 $0 $0 $0 $0 $0 $0 $0
$9,539,280 $9,825,458 $10,120,222 $10,423,828 $10,736,543 $11,058,640 $11,390,399 $11,732,111 $12,084,074 $12,446,596
$13,949,280 $32,835,521 $10,120,222 $10,423,828 $10,736,543 $11,058,640 $11,390,399 $11,732,111 $135,619,865 $12,446,596
- $1,298,170 - $8,142,771 - $10,059,195 - $3,509,927 $0 $0 $0 - $11,765,313 - $64,709,224 - $41,178,597
412,123,849 - $12.123,849 - $13,732,894 - $13,732894 - $13,169.847 413,169,847 - $13,169,847 - $13,169,847 413.169,847 - $21,869,968
$2,830,139 93,431,547 $3,567.782 $3,274,119 $3220,314 $3,270,224 $3, 337, 308 $3,158,070 $4,707,678 $5,088,303
- $9,293,711 - $8,692,302 - $10,165,112 - $10,458,775 - $9,949,533 - $9,899,623 - $9,832,539 - $10,011,777 - $8,462,169 - $16,781,665
- $10,591,880 - $16.835,074 - $20,224,307 - $13,968,702 - $9,949.533 - $9,899,623 - $9,832,539 - $21,777,091 - $73,171,393 - $57,960,262
____________________________ _______________________________
$191,551,801 $197,298,355 $203,217,305 $209,313,824 $215,593,239 $222,061,036 $228,722,867 $235,584,554 $242,652,090 $249,931,653
6.33% 6.13% 6.76% 6.29% 6.11% 5.93% 5.76% 5.59% 5.43% 8.75%
4.98% 4.98°/ 4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98%
2018 -19 2019 -20 2020 -21 2021 -22 2022 -23 2023 -24 2024 -25 2025 -26 2026 -27 2027 -28
$4,410,000
$4,410,000 $0 $0 $0 $0 $0 $0 $0 $0 $0
2028 -29 2029 -30 2030 -31 2031 -32 2032 -33 2033 -34 2034 -35 2035 -36 2036 -37 2037 -38
°$1.779.313 $9.786.219 $6.227.594
51.270.938 S6.99 @157 54.445.282
$1,430,451 $8,103,508 $5,311,481
$1,089,375 $5,991,563 $3,812,813
$0 $0 $0 $5,501,344 $30,257,393 $19,254,705 $0 $2,656,553 $14,847,064 $9,602,835
1.662 1.711 1.763 1.816 1.870 1.926 1.984 2044 . 2.105 2.168
$0 $0 $0 $275,067 $1,512,870 $962,735 $0 $132,828 $742,353 $480,142
E F
$57,764,114 $22,024,743
$4,130,134 $1,574,769
$748,759 $409,235
$62,643,007 $24,008,748
$21,961,808 $21,961,808 $21,961,808 $21,961,808 $26,091,942 $26,091,942 $26,091,942 $26,091,942 $27,666,711 $27,666,711
- $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493 - $6,472,493
- $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711
- $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 - $1,630,643
- $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 - $8,700,121
- $4,075,017 - $4,075,017 - $4,075,017 - $4,075,017 - $4,075,017
- $1,561,803
- $21,869,968 - $21,869,968 - $21,869,968 - $21,869,968 - $21,869,968 - $25,944,986 - $25,944,986 - $25,944,986 - $25,944,986 -$27, '
$64,675,621 $59,609,156 $54,716,608 $50,017,859 $39,908,924 $63,720,865 $37,076,430 $29,386,850 $19,727,863 $23,013,611
$0 $0 $0 $0 $57,764,114 $0 $0 $0 $22,024,743 $0
$0 $0 $0 $0 $0 $0 $0 $613,051 $3,371,778 $2,145,677
$12,819,994 $13,204,594 $13,600,732 $14,008,754 $14,429,016 $14,861,887 $15,307,744 $15,766,976 $16,239,985 $16,727,185
$12,819,994 $13,204,594 $13,600,732 $14,008,754 $72,193,130 $14,861,887 $15,307,744 $16,380,026 $41,636,507 $18,872,862
$0 $0 $0 - $5,501,344 - $30,257,393 - $19,254,705 $0 - $2,656,553 - $14,847,064 - $9,602,835
- $21,869,968 - $21.869,968 - $21,869,968 - 321,869,968 - $21,869.968 - $25,944,986 - $25,944,986 - $25,944,986 - $25.944,986 - $27,506,789
$3,983,510 93,772,826 $3,570,487 $3,253,624 $3,746,172 $3,693,368 $2, 947,663 $2562525 $2,441,291 $2,19B,371
- $17,886,459 - $18,097,143 - $18,299,481 - $18,616,344 - $18,123,797 - $22,251,618 - $22,997,323 - $23,382,461 - $23,503,695 - $25,308,418
- $17,886,459 - $18.097,143 - $18,299,481 - $24,117,688 - $48,381,190 - $41,506,322 - $22,997,323 - $26,039,014 - $38.350,759 - $34,911,253
____________________________ _______________________________
$257,429,602 $265,152,490 $273,107,065 $281,300,277 $289,739,285 $298,431,464 $307,384,408 $316,605,940 $326,104,118 $335,887,242
8.50% 8.25% 8.01% 7.77% 7.55% 8.69% 8.44% 8.19% 7.96% 8.19%
4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98%
2028 -29 2029 -30 2030 -31 2031 -32 2032 -33 2033 -34 2034 -35 2035 -36 2036 -37 2037 -38
$613.050.62 # ###### #### ######## ###
$0 $0 $0 $0 $0 $0 $0 $613,051 $3,371,778 $2,145,677
2038 -39 2039 -40 2040 -41 2041 -42 2042 -43 2043-44 2044-45
$1,641,992
$0
$12,621,406
$4,616,351
$3,313,702
$3,545,892
$2,674,971
- $8,488,161
$10,647,870
$17,730,838
$88,384,578
$9,503,494
$10,643,902
$7,140,525
$17,793,126
$8,654,467
$12,709,376
$14,845,440
$9,581,001
$9,123,345
$3.709.057
$10,893,751
$0
$0
$0
$0
$0
$0
$0
$387,893,846
2.233
$0
2.300
$0
2.369
$0
2.440
$0
2.513
$0
2.589
$0
2.666
$0
$19,394,692
$388,609,349
$27,666,711
$4,891,769
$421,167,849
$21,194,218 $21,194,2113 $21,194,218 $21,194,218 $21,194,218 $21,194,218 $21,194,218
done
- $5,066,711 - $5,066,711 - $5,066,711 - $5,066,711 done
-$ 1,630,643 .$1,630,643 - $1,630,643 - $1,630,643 - $1,630,643 .$1,630,643 - $1,630,643 4more yrs
- $8,700,121 .$8,700,121 - $8,700,121 - $8,700,121 - $8,700,121 $8,700,121 - $8,700,121 11 more yrs
- $4,075,017 $4,075,017 - $4,075,017 - $4,075,017 - $4,075,017 - $4,075,017 - $4,075,017 17 more yrs
- $1,561,803 $1,561,803 $1,561,803 - $1,561,803 $1,561,803 - $1,561,803 - $1,561,803 21 more yrs
- $21,034,296 - $21,034,296 - $21,034,296 - $21,034,296 - $15,967,585 - $15,967,585 - $15,967,585 . $591,994,031
$6,975,219 $4,739,582 $2,943,469 $1,622,865 $815,857 $5,743,459 $11,500,723
$0 $0 $0 $0 $0 $0 $0 $388,609,349
$0 $0 $0 $0 $0 $0 $0 $57,562,664
$17,229,000 $17,745,870 $18,278,246 $18,826,594 $19,391,391 $19,973,133 $20,572,327 $430,232,995
$17,229,000 $17,745,870 $18,278,246 $18,826,594 $19,391,391 $19,973,133 $20,572,327 $876,405,008
$0
$0 $0 $0 $0 $0 $0 $0 - $397,299,666
- $21,034,296 - $21,034,296 - $21,034,296 421,034,296 - $15,967,585 - $15,967,585 $15,967,585 - $584,028,166
$1,569,658 $1,492,313 $1,435,445 $1,400,694 $1,503,795 $1,751,716 $2,037,756 $96,423,768
- $19,464,638 - $19,541,982 - $19,598,850 - $19,633,602 - $14,463,790 - $14,215,869 - $13,929,829 not complete
- $19,464,638 - $19,541,982 - $19,598,850 - $19,633,602 - $14,463,790 - $14,215,869 - $13,929,829 not complete
$4,739,582 $2,943,469 $1,622,865 $815,857 $5,743,459 $11,500,723 $18,143,221
$345,963,859 $356,342,775 $367,033,058 $378,044,050 $389,385,371 $401,066,933 $413,098,9411
6.08% 5.90% 5.73% 5.56% 4.10% 3.98% 3.87 %!
4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.98%
2038 -39 2039 40 2040 -41 2041 -42 2042 -43 2043-44 2044 -45
$11,200,000
$13,545,000
$13,545,000
$2,500,000
$2,000,000
$2,142,158
$5,000,000
$1,500,000
$6,130,506
$0 $0 $0 $0 $0 $0 $0 1 $57,562,6641