pf_03543 - Laserfiche WebLink

Home

10 Resale Value of Land IS a preliminary estimate and will be subsequently verified. 11 Total Sources amount to $65.8 million. Uses 12 Contingencies for Land and Building Acquisitions have been built into line 12 based on the perceived risk for each parcel; thus, we have eliminated the contingency for acquisitions on line 18. Relocation is a preliminary cost estimate provided by the relocation consultant based on the current Uniform Relocation Act. 13 Site Preparation costs are consistent with the preliminary site plan. 14 Site Preparation - Environmental reflects costs which have been estimated for several sites and extrapolates them on a square foot basis for the entire project. 15 Landscaping and Other Public Improvement costs are preliminary. 16 Streets - Twin Lakes Parkway and Off Site are also preliminary costs. 17 Contingency consists of 10% of the non-acquisition costs. 18 Costs of issuance are estimated for revenue bonds only and are calculated at 2.5% of the principal amount. 19 Total Uses are approximately $65.8 million. 20 Total Uses subtracted from Total Sources generates a small deficit. Caveats Please consider the following when reviewing the Sources and Uses: . While estimated costs are continuously being refined, a number of them are still preliminary, particularly environmental remediation costs. . While the tax-exempt rates for the TI revenue bonds may seem high at today's rates, those rates may be understated by the time the bonds are issued. . The TI revenue bonds will probably require debt service reserves, which reduces the amount of proceeds actually available for project expenses. Because there are many variables and many ways to structure the debt, we thought it premature to . Page 3