ARRA Lease Revenue Cash Flow (2008-2017)

Item Total 2005/06 2006/07 2007/08 2008/09 2009/10 5 Year Repayment

2010/11 of GF Loan
2011/12 2012/13 2013/14 2014/15 2015/16 2016/17
1
PROJECTED FUND BALANCE $51,872,759 $5,170,590 $6,591,526 $8,539,353 $7,900,747 $5,237,957 $4,129,669 $3,103,003 $2,300,705 $1,861,998 $2,068,737 $2,301,697 $2,666,778
REVENUES
Ongoing Project Revenues to City
Lease Revenues $126,129,301 $10,656,674 $9,015,808 $9,286,282 $9,564,871 $9,851,817 $10,147,371 $10,451,792 $10,765,346 $11,088,307 $11,420,956 $11,763,585 $12,116,492
MARAD Revenue $24,854,032 $1,800,000 $1,800,000 $1,854,000 $1,909,620 $1,966,909 $2,025,916 $2,086,693 $2,149,294 $2,213,773 $2,280,186 $2,348,592 $2,419,049
MARAD Warehouse Revenue $6,471,565 $456,000 $469,680 $483,770 $498,284 $513,232 $528,629 $544,488 $560,822 $577,647 $594,977 $612,826 $631,211
Total Lease Revenue $12,912,674 $11,285,488 $11,624,053 $11,972,774 $12,331,957 $12,701,916 $13,082,974 $13,475,463 $13,879,727 $14,296,119 $14,725,002 $15,166,752

Total Revenue $208,871,658 $17,627,264 $17,877,014 $20,163,406 $19,873,521 $17,569,914 $16,831,585 $16,185,976 $15,776,168 $15,741,725 $16,364,856 $17,026,699 $17,833,530 $133,330,453

EXPENDITURES
Property Management Expenditures
AP Property Management $30,958,932 $2,797,038 $2,277,050 $2,322,591 $2,415,495 $2,463,805 $2,513,081 $2,563,342 $2,614,609 $2,666,901 $2,720,239 $2,774,644 $2,830,137
AP Water $4,257,609 $300,000 $309,000 $318,270 $327,818 $337,653 $347,782 $358,216 $368,962 $380,031 $391,432 $403,175 $415,270
O&M/Repair of Water System $1,632,083 $115,000 $118,450 $122,004 $125,664 $129,434 $133,317 $137,316 $141,435 $145,679 $150,049 $154,550 $159,187
Urban Runoff Fee-AP/FISC $9,650,580 $680,000 $700,400 $721,412 $743,054 $765,346 $788,306 $811,956 $836,314 $861,404 $887,246 $913,863 $941,279
Sanitary Sewer $2,838,406 $200,000 $206,000 $212,180 $218,545 $225,102 $231,855 $238,810 $245,975 $253,354 $260,955 $268,783 $276,847
Roof/Environmental $5,232,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000 $436,000
Building 1 Aluminum Window Repairs $144,000 $0 $144,000
Pier Operating and Maintenance Costs
Insurance $1,419,203 $100,000 $103,000 $106,090 $109,273 $112,551 $115,927 $119,405 $122,987 $126,677 $130,477 $134,392 $138,423
Port Services $3,900,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000
Boom Purchase/Repair $709,601 $50,000 $51,500 $53,045 $54,636 $56,275 $57,964 $59,703 $61,494 $63,339 $65,239 $67,196 $69,212
Pier Maint/Repair $921,546 $25,000 $70,000 $72,100 $74,263 $76,491 $78,786 $81,149 $83,584 $86,091 $88,674 $91,334 $94,074
Piling Replacement Fund 2 $3,494,066 $100,000 $265,000 $272,950 $281,139 $289,573 $298,260 $307,208 $316,424 $325,917 $335,694 $345,765 $356,138
Street Maintenance $1,852,280 $0 $50,000 $55,000 $70,000 $98,000 $137,200 $192,080 $250,000 $250,000 $250,000 $250,000 $250,000
Street Lights/Lighting $214,500 $0 $15,000 $19,500 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000
Security Fencing $60,000 $42,000 $0 $0 $0 $0 $18,000 $0 $0 $0 $0 $0 $0
Electrical System Upgrade $2,200,000 $500,000 $0 $0 $1,700,000 $0 $0 $0 $0 $0 $0 $0 $0
Fendering Repairs $450,000 $150,000 $150,000 $0 $0 $0 $150,000 $0 $0 $0 $0 $0 $0
Subtotal $69,934,806 $5,820,038 $5,220,400 $5,036,142 $6,900,887 $5,335,228 $5,651,477 $5,650,185 $5,822,784 $5,940,392 $6,061,005 $6,184,702 $6,311,567
Ongoing Project Expenditures to City
Municipal Services
Building & Grounds Maintenance $3,576,391 $252,000 $259,560 $267,347 $275,367 $283,628 $292,137 $300,901 $309,928 $319,226 $328,803 $338,667 $348,827
Municipal Service Fee (inflated at 3%) $33,960,713 $2,024,000 $2,064,480 $2,605,770 $2,683,943 $2,764,461 $2,847,395 $2,932,817 $3,020,802 $3,111,426 $3,204,768 $3,300,911 $3,399,939
DSD Staff (including City directs and indirects)
DSD Staff (06/07 AP Project Mgr included) $7,000,054 $340,000 $520,000 $535,600 $551,668 $568,218 $585,265 $602,823 $620,907 $639,534 $658,720 $678,482 $698,837
City Direct Costs $7,401,143 $521,500 $537,145 $553,259 $569,857 $586,953 $604,561 $622,698 $641,379 $660,621 $680,439 $700,852 $721,878
AP Project Management Costs $2,200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000
Other Expenses
Bond Debt Service $8,890,271 $354,200 $613,505 $604,566 $829,000 $816,000 $805,000 $795,000 $782,000 $770,000 $856,000 $840,000 $825,000
Insurance $2,696,486 $190,000 $195,700 $201,571 $207,618 $213,847 $220,262 $226,870 $233,676 $240,686 $247,907 $255,344 $263,004
Audit/ARRA Meeting $559,725 $25,000 $41,750 $43,003 $44,293 $45,621 $46,990 $48,400 $49,852 $51,347 $52,888 $54,474 $56,109
Utilities (increase 3%) $12,276,106 $865,000 $890,950 $917,679 $945,209 $973,565 $1,002,772 $1,032,855 $1,063,841 $1,095,756 $1,128,629 $1,162,488 $1,197,362
Prof. Services $7,728,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000 $644,000
Citywide Development Fee $1,768,615 $250,000 $303,723 $303,723 $303,723 $303,723 $303,723 $0 $0 $0 $0
Operation Dignity Payment $150,000 $150,000
MV Faithful Removal $200,000
Repayment of GF Loan $2,400,000 $480,000 $480,000 $480,000 $480,000 $480,000
Estuary Park $225,000 $45,000 $45,000 $45,000

Subtotal $88,057,504 $5,215,700 $6,367,090 $7,226,517 $7,734,678 $8,105,017 $8,077,105 $8,235,087 $8,091,385 $7,732,596 $8,002,154 $8,175,219 $8,354,955

2003 ARRA Bond $13,440,000

Project Obligations
General Fund Loan Project Repayment $2,400,000 $2,400,000
General Fund Loan to APIP Project Repayment $1,258,995 $1,258,995
Subtotal $3,658,995 $3,658,995

Total Expenditures $157,992,310 $11,035,738 $11,587,490 $12,262,659 $14,635,565 $13,440,245 $13,728,583 $13,885,272 $13,914,169 $13,672,988 $14,063,159 $14,359,921 $14,666,522
Net Impact (Rev. less Exp.) $126,129,301 $1,876,936 -$302,002 -$638,606 -$2,662,790 -$1,108,288 -$1,026,666 -$802,298 -$438,706 $206,739 $232,960 $365,081 $500,230
Ending Fund Balance $6,591,526 $6,289,524 $7,900,747 $5,237,957 $4,129,669 $3,103,003 $2,300,705 $1,861,998 $2,068,737 $2,301,697 $2,666,778 $3,167,008

7:46 PM1/11/20102009 SeptARRAbdgt.xls