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| City
of Piqua Ohio |
| Fort
Piqua Plaza Project Summary |
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Fort
Piqua Plaza - Downtown Piqua
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Fort Piqua
Plaza
Projected Revenue and Expense Summary |
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As of
Dec. 11, 2006
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As of
Feb. 20, 2009
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Revenues: |
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CDE Loan ($8.5M City Portion) |
$ 14,380,846 |
$ 14,380,846 |
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Master Tenant Equity |
$ 1, 939,154 |
$ 1,939,154 |
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Fort Piqua Redevelopment Corp.
Equity |
$ 2, 018,303 |
$ 2, 018,303 |
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Fort Piqua Redevelopment Corp.
Advance |
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$1,219,850
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Interest on Reserves |
$ 143,700 |
$ 420,000 |
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Federal & State Tax Credits |
$ 1,191,700 |
$ 1,241,774 |
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Total |
$ 19,673,703 |
$ 21,219,927 |
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Expenses: |
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Contribution of Property (Land &
Bldg) |
$ 285,000 |
$ 285,000 |
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Rehabilitation Costs |
$14,544,804 |
$ 16,019,518 |
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Architectural / Engineering Fees |
$ 1,000,000 |
$1,046,702 |
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Construction Management Fees |
$ 100,000 |
$ 173,102 |
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Insurance |
$ 278,998 |
$ 43,192 |
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Testing |
$ 25,000 |
$108,304 |
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Legal / Accounting / Consultants
Fees |
$ 600,000 |
$ 656,750 |
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Misc. Fees |
$ 29,500 |
$ 43,327 |
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Developers Fees |
$ 1,000,000 |
$ 1,000,000 |
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Construction Interest |
$ 83,611 |
$128,482 |
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CDE Fees |
$ 127,500 |
$ 128,850 |
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Escrow Reserves - CDE Manager Fee |
$ 340,000 |
$ 340,000 |
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Working Capital Reserves |
$ 67,590 |
$ 55,000 |
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CDE Sponsor Fees |
$ 1,191,700 |
$ 1,191,700 |
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Total |
$ 19,673,703 |
$ 21,219,927 |
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