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2018 Agreement Aoolied to Planning: Level Estimate
<br />City
<br />Loan
<br />JDEDZ Planning Level Cost Estimate
<br />$
<br />21,470,000
<br />Stoneridge Drive and 1680 Project Planning Level Estimate (includes ROW)
<br />$
<br />7,110,000
<br />JDEDZ Street Improvements, Planning Level Estimate (Excludes ROW)
<br />$
<br />12,860,000 $
<br />JDEDZStreet Improvements ROW Plannning Level Estimate
<br />$
<br />1,500,000
<br />Total
<br />$ 750,D00
<br />$
<br />2018 Loan Pavback Calculation for Planning Level Estimate
<br />$ 540,938
<br />5 540,938
<br />Total Loan Amount
<br />$ 12,890,938
<br />$ 11,408,797
<br />2018 Estimated annual City sales tax revneue from Costco Store
<br />60% of estimated 2018 City Sales tax revenue to General Fund
<br />40% of estimated 2018 City sales tax revenue from Costco Store used to make loan payments
<br />Payback Period - considering sales tax and no JDEDZ Transportation Fees = Total Loan Amount / 40% of annual
<br />estimated sales tax revenue
<br />Amended 2018 Agreement Applied to Final Cost Estimate
<br />Final Cost Estimate Includes Contingency = 10 Percent of Contractor's Construction Bid
<br />$
<br />33,581,261
<br />Stoneridge Drive and 1680 Project Final Cost Estimate (Includes ROW)
<br />$
<br />13,146,332
<br />Stoneridge Drive and 1680 Project Planning Level Estimate (Includes ROW)
<br />$
<br />7,110,000
<br />Cost Overrun Final Cost Estimate minus Planning Level Estimate
<br />$
<br />6,036,332
<br />JDEDZ Street Improvements Final Cost Estimate (Excludes ROW)
<br />I $
<br />17,853,054
<br />JDEDZ Street Improvements Planning Level Estimate (Excludes ROW)
<br />$
<br />12,860,000 $
<br />Cost Overrun Final Cost Estimate minus Planning Level Estimate
<br />$
<br />4,993,054 $
<br />JDEDZ Street lmprovmentsROW
<br />$
<br />1,500,000
<br />JDEDZ Street Improvmement ROW Cost Increase
<br />$
<br />1,081,876
<br />Total
<br />$
<br />Amendment One changes Section 4.1 to require city to reimburese cost overruns up to $5.2 million with 60 -days, with any additional
<br />cost overrun added to loan and
<br />no longer due in 60 -days
<br />Amendment One changes Section 4.2.c state City's share of JDEDZ Street Improvements Cost Overrun as defined Section 3.5 will be added to the loan and no longer
<br />due in 60 -days
<br />2018 Loan Pavback Calculation for Planning Level Estimate
<br />Total Loan Amount .
<br />2024 Estimated annual City sales tax revneue from Costco Store
<br />6091 of estimated 2018 City Sales tax revenue to General Fund
<br />40% of estimated 2018 City sales tax revenue from Costco Store used to make loan payments
<br />Payback Period - considering sales tax and no JDEDZ Transportation Fees = Loan Amount / 40% of annual estimated sales tax revenue
<br />Costco City Loan
<br />$ 6,400,000 5 710,000
<br />6,785,000 $ 6,075,000
<br />$ 750,000 $ 750,000
<br />6,785,000 $ 7,150,000 $ 7,535,000
<br />$ 7,535,000
<br />$1.0 to $1.3 million/year
<br />$600,000 to $780,000/year
<br />$400,000 to $520,000/year
<br />14 to 19 years
<br />Costco
<br />City
<br />Loan
<br />$ 6,400,000
<br />$ 710,000
<br />$ 5,200,000
<br />$ 836,332
<br />6,785,000
<br />S 6,075,000
<br />2,496,527
<br />S 2,496,527
<br />$ 750,D00
<br />; 750,000
<br />$ 540,938
<br />5 540,938
<br />9,281,527
<br />$ 12,890,938
<br />$ 11,408,797
<br />$ 11,408,797
<br />$1.8 to $2.1 million/year
<br />$1,080,000 to $1,260,000/year
<br />$720,000 to $840,000/year
<br />14 to 16 years
<br />
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