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These are the total funds available for parking in the Downtown area including monies
<br />for the acquisition of and improvements to the property. The monies in the Downtown
<br />Specific Plan are also available for other improvements identified in the Downtown
<br />Specific Plan and the Master Plan for the Downtown Parks and Trails System. The
<br />monies in the Capital Improvement Fund for the Downtown and North Pleasanton Areas
<br />was a result of the replacement of the debt service reserve fund with a Surety Bond as
<br />presented and approved by Council in March 2007 and the closeout of several
<br />assessment district bond issues.
<br />Annual Payments
<br />Table 1 presents the estimated total cost of purchasing both the Southern Property and
<br />the Northern Property over the seven year period ending August 1, 2015 and results in
<br />a total cost of $7,937,657, due to the additional interest costs. Table 1 assumes that
<br />Segment 7 is cleaned in Year 3 and the City purchases the Northern Property with the
<br />$1.0 million in Escrow and the remaining $1.0 million being financed over the remaining
<br />four years of the seven year purchase period for the Southern Property.
<br /> Table 1
<br /> City of Pleasanton
<br /> Alameda County Transporta tion Corridor
<br /> Purchase Agreem ent
<br /> Total
<br />Date Principal Coupon Interest Payment Balance
<br />8/1/2008 $2,100,000 0% $ - $ 2,100,000 $ 3,400,000
<br />8/1/2009 $ 530,000 0% $ - $ 530,000 $ 2,870,000
<br />8/1/2010 $ 530,000 0% $ - $ 530,000 $ 3,340,000
<br />8/1/2011 $ 613,582 4.25% $ 141,950.00 $ 755,532 $ 2,726,418
<br />8/1/2012 $ 639,659 4.25% $ 115,872.77 $ 755,532 $ 2,086,759
<br />8/1/2013 $ 666,844 4.25% $ 88,687.26 $ 755,531 $ 1,419,915
<br />8/1/2014 $ 695,185 4.25% $ 60,346.39 $ 755,531 $ 724,730
<br />8/1/2015 $ 724,730 4.25% $ 30,801.03 $ 755,531 $ -
<br />Escrow $1,000,000 $ 1,000,000
<br />Total $7,500,000 $ 437,657.44 $ 7,937,657
<br />Page 5 of 6
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