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1987_0421_packet
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1987_0421_packet
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12/5/2011 3:13:38 PM
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M <br />K <br />'These bonds are to be ret"'Ired by, pooled payments from the followini <br />mroJects' tax 'increment coming on line over a designated ti <br />ime <br />ra,-ieriod, <br />Lolehmann's/TGIF <br />$ 239,011 <br />Plavilion Place <br />$ 418,657 <br />Burger King <br />$ 13,613 <br />Hardy Office Complex <br />$ 86?000 <br />Hof fmann Electric <br />$ 125 r 000 <br />Rose�po intle—Two, Phases <br />$ 333 jv 129 <br />Berger Transfer—Two Phases <br />$ 178r510 <br />Lido Restaurante <br />$ 33,342 <br />Rosedale Corporate Plaza-■Two Phases <br />$ 619,501 <br />Villa Park <br />$ 90r 000. <br />Woodbridge-1-Multiple Phases <br />$14000,000 <br />TOTAL <br />$3t136r763 <br />Through an extensive analysis by City staf f e <br />Briggs and Morgan, <br />Public, Financial Systems, and Tom Deans the <br />bond 'issue was <br />structured very conservative ly . The conservative assumptions <br />used, for the issue included: a, 100 mill tax <br />inviestment <br />rate, a 6 percent <br />rate actual assessment agreements <br />to guarantee value <br />in most instances and an 80 percent of construction <br />value was <br />utilized where agreements; didn't exist. In addition,, <br />maximum <br />,developer guarantees were negotiated 'within the <br />applicable federal <br />guidelines which are severely limitincrw For <br />■ <br />the <br />'increment payable in <br />.City' ability to meet, debt service <br />s6heidule. <br />is running ahead of <br />3e Investment, rate fluctuations can occur. <br />4 * 'A major Project never gets off' the ground, <br />
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