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JDEDZ PROJECT REVIEW
<br /> SEPTEMBER 2017
<br /> Repayment Schedule
<br /> Finally, we move on to evaluating whether these revenues are sufficient to meet the repayment
<br /> schedule outlined in the proposed Sales Tax Sharing Agreement with Costco.
<br /> The City of Pleasanton is currently working under the assumption that the following table
<br /> represents a reasonable forecast for how this agreement will work:
<br /> Attachment 3:Costco Sales Tax Share Analysis
<br /> Amount 6,800,000
<br /> Interest Rate 1.50%
<br /> Maximum Term 25 P !!
<br /> repay=ment Schedule:'(BasedVo i/
<br /> Projected Costco Sales Tax
<br /> Re.ular Pa, ment Schedule s`.; +;,04;`1Re,,enues . :z-.
<br /> Total City
<br /> Fiscal Projected Total- Allocation-
<br /> Year Year Principal Interest Total Costco Sales Principal Interest 4096 of 84%of Sales
<br /> Tax Sales Tax Tax
<br /> Revenues
<br /> 2019/20 1 $226,191 $102,000 $328,191 $926,709 $268,684 $102,000 $370,684 $556,025
<br /> 2020/21 2 229,584 98,607 328,191 954.510 283,834 97,970 381,804 572,706
<br /> 2021/22 3 233,028 95,163 328,191 983,146 299,546 93,712 393,258 589,887
<br /> 2022/23 4 236,524 91,668 328,191 1,012,640 315,837 89,219 405,056 607,584
<br /> 2023/24 5 240,071 88,120 328,191 1.043.019 332,726 84,481 417,208 625,811
<br /> 2024125 6 243,672 84,519 328.191 1,074,310 350,233 79,491 429,724 644,586
<br /> 2025126 7 247,328 80,864 328,191 1,106.539 368,379 74,237 442,616 663,923
<br /> 2026/27 8 251,037 77,154 328,191 1,139,735 387,183 68,711 455,894 683,841
<br /> 2027/28 9 254,803 73,388 328,191 1,173,927 406,667 62.904 469,571 704,356
<br /> 2028/29 10 258,625 69,566 328,191 1,209.145 426,854 56,804 483,658 725,487
<br /> 2029/30 11 262,504 65,687 328,191 1,245,419 447,767 50,401 498,168 747,252
<br /> 2030/31 12 266,442 61,749 328,191 1,282,782 469,428 43,684 513,113 769,669
<br /> 2031/32 13 270,439 57,753 328,191 1,321.265 491,863 36,643 528,506 792,759
<br /> 2032/33 14 274,495 53,696 328,191 1,360,903 515,096 29,265 544,361 816,542
<br /> 2033/34 15 278,613 49,579 328,191 1,401,731 539,154 21,539 560,692 841,038
<br /> 2034/35 16 282,792 45,400 328,191 1,443,782 564,062 13,451 577,513 866,269
<br /> 2035/38 17 287,034 41,158 328,191 1,487,096 332,686 4,990 337,677 1,149,419
<br /> 2036/37 18 291,339 36,852 328,191 1,531,709 1,531,709
<br /> 2037/38 19 295,709 32,482 328,191 1,577,660 1,577,660
<br /> 2038/39 20 300,145 28,047 328,191 1,624,990 1,624,990
<br /> 2039/40 21 304,647 23,544 328,191 1,673,740 1,673,740
<br /> 2040/41 22 309.217 18,975 328,191 1,723,952 1,723,952
<br /> 2041/42 23 313,855 14,336 328,191 1,775,670 1,775,670
<br /> 2042/43 24 318,563 9,629 328,191 1,826,940 1,828,940
<br /> 2043/44 25 323,341 4,850 328.191 1,883,809 1,883,809
<br /> Totals $6,800,000 $1,404,787 $8,204,787 333,787,128 $6,800,000 $1,009,502 $7,809,502 $25,977,626
<br /> Based on the rosy estimates provided by its consultants, built from a mix of outdated information
<br /> and arbitrary assumptions, the City of Pleasanton is anticipating a relatively painless repayment
<br /> of its obligations under the agreement. Indeed, the proposed schedule shows payments
<br /> finishing up within 17 years, freeing the city to enjoy millions in new revenue from the Costco
<br /> store.
<br /> Civic Economics 8
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