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HomeMy WebLinkAbout6.b. Update of Armory Financing RequirementsCITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION PORT AUTHORITY COMMISSION MEETING DATE: SEPTEMBER 1, 1992 AGENDA ITEM: AGENDA SECTION: UPDATE OF ARMORY FINANCING REQUIREMENT OLD BUSINESS PREPARED BY: AGENDA NO. JOHN MILLER, ECONOMIC DEVELOPMENT COORDINATOR 6. B ATTACHMENTS: APP OVE BY. ARMORY FINANCING INFORMATION PACKETS v �f Steve Jilk, Executive Director of the Port Authority, has prepared an Armory financing information packet that is attached for your review. Mr. Jilk will review it in detail with the Commissioners on September 1. RECOMMENDED ACTION: None. Informational item only. PORT AUTHORITY ACTION: PHONE (612) 423-4411 FAX (612) 423-5203 TO: FROM: DATE: eity of (0?osemouni 2875 - 145th Street West, Rosemount, Minnesota Mailing Address: P.O. Box 510, Rosemount, Minnesota 55068-0510 Mayor McMenomy Councilmembers Klassen, Staats Port Authority Commissioners Stephan JIlk, City Administrat August 28, 1992 MAYOR Edward B. McMenomy COUNCILMEMBERS Sheila Klassen James (Red) Staats Harry Willcox Dennis Wippermann ADMINISTRATOR Jilk RE: Armory and Community Center Project Several items of updated information of note on the Armory/Community Center Project are provided here. 1) Armory Committee Report/Recommendation - The Armory Committee met on Monday, August 24th, 1992 to discuss the affordability of the project. A separate report of that meeting is attached. The results of that meeting were that the committee reduced the cost of the Armory and Community Center by some $90,700. The Committee also provided a recommendation to the Port Authority and City Council to proceed with the construction of the Armory, Community Center and Arena utilizing available levies and income from operations of the facilities. 2) After additional meetings with the ICE ARENA SUPPORT GROUP, and detailed discussion with Dan O'Neill of Springsted, Inc. further financial information was drafted. The revised financial analysis of the arena financing and cash flow information is very positive in the sense that it shows that the project can "cash flow" with very little or no subsidy if less than full depreciation is taken. Data sheets outlining how these new numbers relate is provided. I will not go into any detail on this information here, but will do so on Tuesday evening. The main reasons this is possible are: a) The contractor, PCL, has indicated that if they are awarded the contract to construct the facility they will commit to having the arena available for use by Thanksgiving of 1993, a whole ice season ahead of the previous schedule used. (Sverylkings coming `Up gosemounlP Armory/Center Update August 28, 1992 b) in previous calculations depreciation costs were being escalated along with income which caused an inaccurate loss figure and a higher expenditure number. c) principal payments have now been scheduled with lower payments in the early years of the schedule, delaying larger payments until later years when accumulated reserves can assist in making them. It is extremely important to note that this new, and I must say, very positive position represented suggests that the project could be built and financed with the operational income providing sufficient cash to fund operations and debt service. But, we must also understand that all assumptions on income and expenditures must come true and any significant change in either could cause a loss. I am not trying to suggest that the project should not move ahead. Just the opposite. I feel that with the new information and changes indicated the Arena project should definitely move ahead. I simply want to make sure that you clearly understand that you are proceeding "with your eyes open" on the assumptions made. 3) Overall Financing - In order to utilize all available funds for the completion of the project(s)certain actions will needed to be taken. That is, if the city utilizes the two "armory levies", the approved referendum amount, and revenue from the arena operation, we will need to "package" the deal in a different than normal manner. A memo from Mr. Dan O'Neill will be available on Tuesday evening for discussion. I would provide the conceptual idea of how this will come together here for your consideration. There will be basically three bond issues: a) the debt that the Minnesota State Armory Building Commission issues for the Armory and to which the City will make a debt payment for the City's share of the Armory. b) a separate issue for the approved referendum amount of the Community Center Project which the City pays using a new levy. 2 Armory/Center Update August 28, 1992 c) a separate issue, sold by the Port Authority, to finance the remaining portion of the Community Center, the Arena and the acquisition and relocation costs for the Highway 3 businesses. The revenue for the repayment of this issue will come from three sources. One will be the remaining levy available from the two armory levies and made to the Port Authority in the form of a lease payment. The second would be the revenue from the operation of the Arena and also made in the form of a lease payment. The third would be excess increments from the tax increment development district to pay for the relocation of the businesses on Highway 3. Utilizing these options the complete package can now be financed. 4) One additional item of concern. I was advised today that Knutson Construction Company, the original low bidder, is contesting the fact that their bid was thrown out. The bid was disqualified because the bidder did not include in their bid proof of their compliance to minority hiring. The legal people at MSABC are reviewing this and are keeping us advised but at this time it is their recommendation that we continue to complete all documents considering PCL the successful bidder. If Knutson would be successful in getting the bid the City's cost could go up appreciably. 3 Subject: Armory Committee Meeting of August 24, 1992 Time: 6:30 p.m., 8-24-92 Location: City Hall Council Chamber Purpose: To discuss Armory/Community Center Project and Financing of the project. Present: Armory Committee - Greg Clausen, George Boomer, Ray Knutson, Lee Knutson, Del Lorentzson, Ron Carlson National Guard - Terry Palmer, Craig Webber Architect - Steve Belmont, Art Dickey City Council - Dennis Wippermann, Harry Willcox City Staff - Dave Bechtold, Steve Jilk RAHA -.Ron Pederson Steve Belmont reviewed each separate Bid Item, #1 - #39. Steve Jilk reviewed prepared data on the cost of each component, i.e. Armory, Community Center, Park and Recreation Add -On and Arena; and the financing options for them. Ron Pederson presented information on the arena and ideas on potential cost savings and volunteer assistance to reduce costs. The group then worked on reducing costs to reach a fundable level with present levies and approved referendum amounts. Bid Items 14b, 17, 18, 20, 29, 31, 32 and 35a were considered for cuts. Bid Items 14b - $20,000, 20 - $15,000, 29 - $44,500 and 35a - $6,000 were cut. Item 31 - was found to be in error as a added cost of $2,600 and was actually a deduct of $2,600, so by leaving it would allow for a $5,200 savings. These items amounted to a $90,700 potential savings. It was decided that if funds are available that the City should attempt to negotiate the reinstatement of items prioritized as #29, 14b and 20. The committee then reached consensus that a recommendation should be provided to the City Council to proceed with the construction of the Armory and Community Center, Parks and Recreation and gym upgrades using all approved and existing funding sources to finance them as a package and to consider the construction of the Arena using a funding package which includes revenue from operations, contributions and necessary subsidies. �� 888SSea8aaa8 a 8 e 8a uG-1ooN��nmaNN� « « m U y. �► N P M M r N— M M M N N O S O V; n n L w w S O 8 O 8 8 8 8 8 0 0 8 8 0 0 M p p p p M L M �� 8 88 S88 888888888 8-- a 8a e 1; O V] O O O QQ^ O n IA O N Y'I s� s es ess �ss�Qss�s$ '� e s es s u� = .NNo uG-1 v4iN vQi vGi �✓i n iv n fv 2$ vQi $ i-� n \ � a n vGi n 88e 85p8888p885o �� e e eS e V1 YOl 8 v7 8 Iz L f!l M. .r. �� ♦ �� M w ... •r• N W ' S S O N 00 00 J O G G u G W W O O S S S S O O O S O O O O O S O O S O e e 0 e G O 0 e S S a S G 0 O O O O G O O m y G O O O O O O G O G O G G O p. ppp. p. 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U U '••' N C= "' d tlA = — d A Of K_ y V `� U✓ d d T T d d G C L) .T. _T _T T d d U N cr V N d a .V� ~ -+ d d O— ^ •� L 3 N=¢ O T 2 (,7 N W ►- ✓✓✓ .-. d C f3 5 5 5 03 rJ - L dN L L --- C g 9 N-` C — C N p, {.7 ✓ d O A O O O O O O a 9 >. Cf L N N m d C O O N y '� � 9 •-. d L� d O +. +. g d L� N A ✓ U O V •� L Y N g d ... �� U� ` U M N U d N d d d N C d •. C C u �• ✓ m 9 q � n ^- V1 �+ `. ✓ V n a U— g a U V d fVj u Z •C• to m /L Q to N U l�. W Z G C Spp Cuu C Cyy U Q 6 C m L7 UTJ CL 6 m N� lL fJ t N J N J 6 C t N N h V') .O 1•� m P p N h h d O P O N 17 h to .". .-. N n h .O f� m p• O— N«` n n n n n NATIONAL GUARD ARMORY, ROSEMOUNT, MN. DESCRIPTION OF BID ITEMS BID ITEM 1: Armory Building. The complete construction of the National Guard Armory Building, including all General, Mechanical, and Electrical work in connection with the construction of Project. This will EAT include any of the work called for by Bid Item 2 through Bid item 38. 1) Note that costs shall be based on a nominal ceiling height of the Assembly Hall, Room B120, of 20 ft. 6 in. and East/West dimension of approximately 92'-8" clear inside. 2) Costs shall be based on finishes as indicated on Room Finish Schedule. Alternate -finishes are to be bid"under separate bid items. 3 ) utility costs shall be based on extension of lines and services to a point 5 ft. 0 in. outside the building perimeter and witihin. (Costs for connection to services at the Property Line and extension to 5 ft. 0 in. outside building will be supplied in Bid item 7 . ) BID ITEM 2: I i - -, � ,.-.�son Detection a'- ori � rl SV '' arra ( ' � l p ) installation Only of the rough -in materials for the JSIIDS. Materials ( except wiring and conduit) shall be furnished by Owner. Equipment will be furnished and installed by Owner. Boxes will be furnished by Owner, installed by Contractor. 1) Light fixtures, switches, receptacles, conduit, rough -in boxes (applicable), wiring, dehumidifier, etc., not specifically a part of the JSIIDS, or as specifically indicated, shall be included in Bid item 1, (furnished and installed by the Contractor). 2) The Owner will order and purchase the JSIIDS, remove the 'technical' equipment and supply Contractor with rough -in boxes for installation. Conduit, wiring, phone line, and connectors specifically for the JSIIDS shall be furnished and installed by the Contractor. At the completion of the Project, the Owner will install the 'technical' equipment. STATEMENT OF WORK, 00600 - 2 STATEMENT OF WORK SW.01 DESCRIPTION OF WORK Work To Be Done: The work consists of furnishing all plant, labor, materials and equipment and performing all work in strict accordance with these specifica- tions, schedules and drawings forming parts thereof for: a. PROJECT TITLE: National Guard Armory, Rosemount, Minnesota b. LOCATION OF PROJECT: The above work is to be accomplished at: ADDRESS: State Highway 3 at Dodd Road Rosemount, Minnesota SW -02 PRINCIPAL FEATURES The work to be performed includes the following principal features. It is to be undersz�ood-that the general description of these features does not in any way limit or diminish the responsibility- of the Contractor to accomplish the complete work under the contract in accordance with the provisions of SW.01 above. a. 2 -Story National Guard Armory Building. b. Masonry bearing walls with steel joists and deck. c. Insulated masonry cavity wall construction at all exterior walls. d. General, Mechanical and Electrical work to be included in one General Contract. e. Community Center and additional sitework by Alternate Bid. f. (See also, attached DESCRIPTION OF BID ITEMS.) SW.03 PRE-BID ON-SITE INSPECTIONS a. It is the Contractor's responsibility that he inspect the sites, ascer- taining for himself the work to be performed and the conditions under which it will be accomplished. Failure to do so will in no way relieve the successful bidder (Contractor) of the responsibility of accomplishing the work as described in these specifications and drawings for the agreed upon contract price. b. Arrangements for site inspections shall be coordinated with Arthur Dickey Architects, Inc The pre-bid inspections will be conducted between the hours of 8:00 a.m. and 4:00 p.m., Monday through Friday. A minimum advance notice of 24 hours is required. SW. 04 Refer all questions relative to the work to: Arthur Dickey Architects, Inc. 4930 France Avenue South Minneapolis, Minnesota 55410 (612) 920-3993 STATEMENT OF WORK 8909.64 00600 - 1 NATIONAL GUARD ARMORY, Description of Bid Items ROSEMOUNT, MN. BiD ITEM 3: Site Pr n ra ions. All work in connection with the preparation of the project site (within the limits of the Property Lines) to the subgrade elevations rewired for the construction of facilities to the elevations specified on the Plans, including clearing, grubbing, excavation and emoan3cnent earthwork, drainage channels/system, and final grading/compaction of site soils to subgrade levels. The bid will j= include excavation and backfilling required for Foundation v alis anal footings nor the finish Shaping and proof rolling of the subgrade under pavements and fico= slab construction. 1) Subgrade elevation is to be with. -in 2 in. O' f i ni Si! grades as indicated on t.^_e Dr awingS . 2 ) Site-oreparaticn should Oniv be r equired LOr chose areas indicated Or disturbed by the construction. 3) Note that 'Engineered fill is required for some portions of the Site as indicated. BID ITEM 4: Grath na and Seeding. All work in connectior. with grading and seeding of unpaved areas disturbed by construction, including placement of top soil from existing stock piles on the prepared subgrade, finish grading the topsoil, and the sowingof grass seed together with fertilizing, watering, cutting and general maintenance operations required to establish a healthv stand of grass. This bid will Q include sodding, sprigging, mulching, plants, planting, nor the grading and preparation of the subgrade. BID ITEM 5. plartinQ All work in connection with the furnishinq and planting of new trees, shrubs, bushes and vines at locations specified, including fertilizing, mulching, staking, erection of temporary barriers to prevent damage, watering and general maintenance operations required to establish healthy .growth after transplant. BID ITEM 6: Access Roads and parking Pavement. All work in connection with the furnishing, placing and compaction of base and surface courses of pavements for access roads and parking areas, including the finish shaping and proof rolling of the prepared subgrade. This bid Will NOT include the construction of the prepared subgrade, drainage structures, nor other items STATEMENT Or WORK 00600 - 3 NATIONAL GUARD ARMORY, ROSEMOUNT, MN. Description of Bid Items designated as Site preparation work. The costs for ec.C_^. type parki na area and the pavement designated access road are to be indicated separately as listed. The costs associated with 'rCditi Onal Cff-Street Parking, Shall be indicated in Bid item 106 and T? L included in this Bid item. The suDtOtal Dr_Ce shat! be _or all the work of Bid item o. 3ID =T=.t 1 % CnnneC!:inn All work in ccnneczioP wi`n '�r-shi nc and _nstalling water c -- GS a:. SG.a,.ary s= e SerVi e lines 1C = - C s prom tnc mains to G Doi... -- - � - �. • O l.i 1. S � e _ n .'` 1 1 �- Ul.. ldiP.0 line Gild �rencning for d'rec` pL'rial electric and telephone Ca.oleS, i nc l ud"lg �aCkf`1 1 i nC and CC::DGCtion Cf earth atter caple5 :ave been J installed by local utili tV CC m^vaa' eS . This j;_C Wi i i Tj .T include ude the construcZi on of any main iines for Ater CGS Or sanltGry Sewer systems nor anv'work for the installation of any primary electric 1-i n= and transformers. ^he cost for each type of utility work is to be indica�ed Separately as liSzed. BID _= `tea G1 . _ ^- ( i n r 1 1 _ C . wor { in connection with the sur n i s.- i ng and erection of outdoor chain link fencing ccmplete with all posts, fabric, barbed wire barrier, gates and accessories in place and ready for service. BID TTS 9: ��r.,Y.^; �v L h' i n , - c c. All work in connection with the furnis'r_ing and installation of the exterior Dole - mounted lighting system, including trenching and backfilling, cable and accessory item to a point 5 =` outside the it - bud_ng line; complete and ready for service._ This bid will NoT include work inside the building (5 ft. line) nor any building -mounted exterior lighting fixtures. BiD ITEM 10: Con r +-P w i k . All work in connection with the construction of concrete walks, including the finish shaping and proof rolling of the prepared subgrade. This bid item will NOT include the construction of the Prepared subgrade, drainage structures, nor other items designated as site preparation work. This bid item will not include concrete walks associated the -with Community Center, which shall be included in Bid Item 10. 1) Cost shall include subgrade preparation, formwork, accessories, materials, labor, finishing, etc. NATIONAL GUARD ARMORY, ROSEMOUNT, MN. Description of Bid Items BID ITEM 11:=lagnole. All work in connection with the furnishing and installation of the flagpole, including rope, foundation and all accessories; complete and ready for service. BiD IT=?4 12: =n1 a -a- 3ssemhly Hall, Raise RQQ f Ct:z7_, T:u1 e an Lr=d Clerestory window P.11 work, including 2lechani cal and Electrical, but not including air conditioning, required to increase the long dimension of Asseably :all (Room No. 8120) from 92'-0" to 112'-0" (20 feet) (See Drawing No. A -o'), increase the height of the roof structure from 20'-6" to 26-6" cleareicht to - u: derside of structural beams (See Detail 7/'18) , and add clery c estorwindow (See Drawing 4/.:21) as soeJ_=ed in Section 084-10. 3ID ITS 13: Farb and Recrear i on office SD ce . All work, including Mechanical and Electrical, required to add space and complete the Park and Recreation Department f=ices (Rooms Nos. 3114; 3115, 3116, 3117, B118, and 3119 at the lower level.) See Drawing Sheet No. r.6. 3ID IT=S✓ 14a: Rosemot'nt- C'o=,,,ni -, V Center. All work, including Mechanical and Electrical, required to add space and complete the Rosemount Community Center. (Rooms Nos. H201 through H209, EXPANDED Room No. 1-1.210, EXpANDED Room No. H211, and Rooms Nos. H212 through H2150-) See Drawing Sheet No. All and all corresponding sections, elevations, details, schedules, and Mechanical and Electrical Drawings. BID ITEM 14b: Glazed C M U at Auditorium, Provide glazed C.M.U. color 'B' in lieu of brick type C where indicated on Drawing Sheets Nos. A-11 and A-29. BID ITEM 15a: Rosemount Arena. All work, including Mechanical and Electrical, required to add space and complete the Rosemount Arena. See Drawing Sheets Nos. P31 through A33 and all corresponding sections, elevations, details, schedules, sitework, landscaping, and Mechanical and Electrical Drawings. Include Mechanical and Electrical rough -ins for future toilets at Room Nos. !126 and l207. STATEMENT OF WORK 00600 - 5 NATIONAL GUARD ARMORY, ROSEMOUNT, MN. Description of Bid Items 37D TTZH 15D. Ros emoun Arena 1 -am *BOOMS TOi 1 S Gnnwe s Li i work, including Mechanical and Electrl cal, required to add: Team Rooms Nos. 7-107, 7108, 1109, and 7110; Toilets Nos. 7120 1129, 1200', and 7207; Showers Nos. 727 and 7128; Figure Skaters Rooms Nos. 1124 and 1124:_; and Concessions Room No. 1204. See Drawing No. :_32 and corresponding mechanical Electrical Drawinas. EID ^`M 15C: �_oSpmnim- Il-^nr,r ^1 c ten- 1 1 WCrKs ^.c_ud __ i i i McCnanca! and^ :i eCtr_Cai recal 4 red elevator. See Spec.__CGz_On SaCt1C-- 142"Q and corresponding Mechanical and _lectr4Cal DraWi d wina__^i SDecificatic.^c5. �oistwav is i.nclude� in 3iw `as B D _lDC: ?���`'lC�ii*�L Arcra 1 car c 3 YS ScorcboFrd an! ol_,n � r�=ec-u,1 ed to add `e aC^-_ .�i_ere shown On Drawings Nos- 3± through =33, and aIi work, including Electrical, reeuui red .t0 add Scoreboard and Sound System. See SDeci=ication Section 12730-_RE2111-z ILEAC _E?S,' and Specifications concerning Scoreboard and Sound Systeil. 3 D-m.=._N! 1�G .'�'QC=?1 C11�n� ?`. �..pra r.i YGYn .., i G !c- SVs*Ce _ All work, includ n.a mechanical and zlectrical, to provide reciprocating refrigeration system with Steel DiDe floor in. lieu OL 'hermetic multlDle COmpressor system With plastic pipe floor as indicated i n Mecham cal Specifications and Drawings and in Division 13 Specifications. BiD ITEM 16: Com—mun i ty C n cr C i can.ri{ ,id p ��e-ncn - =.11 Work requirea to provide bituminous paving, concrete walks, flagpoles, seeding, sod, and planting for the Community Center. See Drawing Sheets Nos. A2, G1, and Li. BID ITEM 17: Assembly Hai! A hi A ; Q Ecm ; Dment . All work required to provide and install two rectangular glass basketball backstops; four ran shaped metal basketball backstops; three sets of volleyball standards, floor inserts and nets; one dividing curtain; and twelve wall pads. See Drawing Sheet A28 and Specification Section 1150 - ATiiLETIC D.QUIPN�_ rNT . r17 11-77%A711- ,,.- NATIONAL GUARD ARMORY, ROSEMOUNT, MN. Description of Bid Items BID ITEM 18: Assembiv Hall Athleti c Si_,rface All work recr_uired to provide and install athletic floor and floor markings. (See Drawing Sheet No. A28.) This iter applies only to the enlarged Assembly Hall. (See Bid Item 12.) BID IT�V l 4 .ssembiy 14'a1 1 ACOI)St? Cal Treat?P.ent =.11 work ream re to Drovide acoustical panels on the =_ssem'J1v :Hall walls. See Drawing Sheet No. 1.28. B_D _^`M 20.i,,_ *r i shed Concrer 31oc{ in �_ssemhly Hall. 1.1-1 work recuired to providescored burnished. concrete block full height: Of e?r'JOSed walls in 1 i eu o: epoly palmed and pal need scored regular concrete .:.lock in RGo NG . .::,12 0 . 37-D 1T.-:24 21. Glazed ai: ' •o^ p`/. ^_i1 work recrui red to provide Glazed Li tes in lieu of painted Scored concrete block between Stair A and the Assembly all and between a portion of corri dor 6225 and the Assembly '.Hall. See hollow metal frame Type D on Sheet No. z42_1. 3_D ITEM 22: T-nrhy Cases. r_1 1 work rea fired to provide two Trop:_v cases in Lobby. (Room No. F202.) See Detail 2/,C,-.9. BID ITEM 23: Skvl? ants in A=_mory. All work, lncludina structural, mechanical, and electrical, required to provide and install a Structural skylight in Room -7202 and two unit skylights in Rooms Nos. E201 and E205, including finished drywall ceiling openings and structural gaming, in lieu of roofing, roof insulation, steel deck, bar joists and suspended ceiling. See details on Drawing Sheet No. P_12, and Specification Sections 07700 and 07850, and Structural, Mechanical and Electrical Drawings and Specifications. BiD ITEM 24: Locker Room Benches. All work required to provide and install Locker Room Benches in Rooms Nos. B109 and B113. See Drawing Sheet A6 and Specification Section 10990. BID ITEM! 25: Recessed Paver Towel Disvensers. All work required to provide and install recessed paper towel dispensers in Rooms B1007, B111, C105, C106, E229, E230, G222, a ' G224, in lieu of surface mounted paper towel dispensers. See Specification Section 10800 Toilet & Bath Accessories oOF WORK NATIONAL GUARD ARMORY, ROSEMOUNT, MN. Description of Bid items BID I77 -_M 26. =?ini r2 -Vi sual ECZ'iT)ment A.11 work required ; - t0 piOV_de and install Aud-Jo-Visual Equipment listed under - Specification Section 11950. B`D I r'7 -Tr 27: a --,i Sricn' Concret-e Block ire T OLJcr T c,Jc1 LC�y. ? 1 i wCriC recu=red t0 provide and install scored burnished ccncrete block full height in Room No. :, O1 in i painted scored regular concrete block. -- 32D 23:Block ;-, T �- w0rk rec�_red t0 provide and install scored bur ._shed- concre-e block in Room No. B101 and G- Szair r walls, s Of exposed wall , 1n lieu O. _pai_=izcr. scored, re—lar Concrete 1'`1 CCK. 29 , arc R_C•:{ , rl T =r T Level T b - )v n �. c, ,,�1 c 1 1 WCr{ regL'=_ed to prOVide and install mace Dr_CK On -^- wars o'ff Rooms Nos. F201 and F202 -froom, ^'-6' - G pC J C 1. - - oc , to ce, ling, in lieu of palmed, sccred, concre'e block. (Face brick from -IOOr to 4 ' -6" a"Zove _nc_L'ded :n ..,_dI i. evil r - 73ase Bd. ) 37D D_ _ 1 3 D -^=, 30: � _ _ cr=mi r- ^; 1 0 1 or) -i n iJ^ncr T otic I i-,:,•,� f-',� �Jcc ,' ri i s -l1 'work _equ red to provide and install Porcelain Cerailic Tile on the floors 1n Rooms Nos. -7201 and 7-202, in lieu of Vinvl Com -Position Tile. BiD 7P -E-14 31: ?xo e 7-100-- Gni? Wase at nu -i tori in/C 1;z s room �q ice r,-1 1 work recllred t0 provide and insiall made it Cori �g all and base in Room No. 7-205 in of carnet floor and base. Provide maple treads and risers at the steps from :_udi tori um/Classroom to the Stage in lieu o= carpet. See Specification Section 09550. BID ITEM 32: Corian Window stools. All work required to provide and install Corian window stools at all Aluminum clad wood windows except those in Room Nos. E213, 7-214, 7-215, and 7216. See Detail 21/A21. BID ITEM 33: 12 Burner Rance All work required to provide and install a 12 burner -as range/oven in lieu of a four burner gas range/ en, and gas griddle/oven in Food Preparation Room No. B125. See Section 11900 - FOCD S7-RVIC7- 7 -QUIP=_ . STATEMENT OF WORK 00600 - 8 NATIONAL GUARD ARMORY, ROSEMOUNT, MN. Description of Bid Items BID ITS 34: Lands^apAd TSland ar D-Jye T ^nc p-11 work required to provide and install concrete curbs and landscaping, in lieu of bituminous paving, at the island in the main entry d -rive lane. See Drawing Sheets Nos. A2, G1, and L1. 31D 1T ! Sia: uoc. Aii work required to provide and install 80,000 sq. ft. of sod in 11Pu of seeding ,n areas indicated on the Landscape Plan. See Drawing Sheet No. Ll. BID 77 H-11 35b. C;' -e __r;c; n -11 work rec�__ to � n - ' '" o -- _ red pro �� de and Install Si te -4rr-gaz on in areas indicated on trie __ -r ga -on Plan. See S-peci_-cation Secz-on 02810. 3ID ITE21 36: Layat:on! Co,,nt-er ;n Men Rooms.! -'-I work recui -ed to provide and install laminated plastic countertop and lavatories in 11eu of wall mounted lavatories, and all work recuired to provide full mirrors in lieu of Lndividual framed mirrors, in Men's Rooms Nos. 3107, --229, and G222. See Details 11/A7 and 12/x7 . BID ITEM 37: ;ir c^nd; t pn; na ; n 7 aS e 7;y Haill. 1 Alt work --- required to provide and install chilled water coils in the air handling units that serve the :.sser,,bly Fall. Room No. 8120. See Division 15 - Mechanical and Division 16 - Electrical. BID ITEM 38: Bronze P aouP. :-11 work required to provide and i nstall a bronze plaque in the F_-r-morv_ . See Specification Section 10425 -SIGNS. Definition: Including means including, but not limited to. STATEMENT OF WORK, 00600 - 9 08/28/92 14:33 FA -1 612 223 3002 SPRINGSTED INC. 0002/006 CITY OF ROSEMOUNT ARMORY CENTER COMPLEX SUMMARY August 27, 1992 08/28/92 11:33 FAX 612 223 3002 SPRINGSTED INC. CITY OF ROSEMOUNT ARMORY CENTER COMPLEX Use of Funds (Estimated) Armory Community Center Business Relocation Ice Arena Total Construction Costs Capitalized Interest Underwriters Discount Other Cost of Issuance $1,150,000 1,619,000 400,000 2.127, 000 $5,296,000 205,000 52,000 52,000 Total Project Costs (Estimated) $5,605,000 Ia 003/006 08.28 92 14:33 FAX 612 223 3002 SPRINGSTED INC. CITY OF ROSEMOUNT ARMORY CENTER COMPLEX Sources of Fends (Estimated) Debt Contract - State of Minnesota G.O. Bonds - City of Rosemount G.O. Bonds - Port of Rosemount Investment Earnings Cash $1,150,000 1,065,000 3,080,000 130,000 180,00D Total Sources of Funds $5,605,000 Z0041/006 48/28%92 14:34 FAX 612 223 3002 SPRINGSTED INC. CITY OF ROSEMOUNT ARMORY CENTER COMPLEX Source of Revenue (Estimated) Armory Levy - Special Legislation $ 95,000 - Special Levy 30,000 Dobt Levy - G,O. Bonds City 87,600 Debt Levy - G.O. Bonds Port 80,000 Ice Arena Income - G.O. Bonds Port 180,000 Z0051/006 08/28'92 14:34 FAX 612 223 3002 SPRINGSTEU INC. CITY OF ROSEMOUNT ARMORY CENTER COMPLEX Ice Time Rates Base Case Total Ice Rental Income $264,114 Alternative #1 Est. Est. Rate Hours Income Peak $115 1,176 $135,240 Off -Peak 94 721 67,774 District #196 94 650 61.100 Total Ice Rental Income $264,114 Alternative #1 16006/006 Est. Est. Rate Hours Income Peak $120 1,176 $141,120 Off -Peak 100 721 72,100 District #196 100 650 65,000 Total Ice Rental Income $278,220 16006/006 City of Rosemount, Minnesota 3% Escalation for all yrs, No Otter Income $2,100,000 Bond Issue Ice Arena Pro -Forma Total Depreciation $10,132 Operating Year $25,292 Net Income Before Debt Service $3,468 Debt Service $0 Net Income $3,468 Cumulative Depreciation $10,132 Cumulative Profit%Loss Income Escalation 1993 1994 1995 1996 1997 1998 Yr 95-04 Yr 05+ Operating Income: Ice Time 3.00% 3.00% $22,010 $264,114 $272,037 $260,199 $288,604 $297,263 Services 3.00% 3.00% 6,750 81,000 83,430 85,933 88,511 91,166_ Total Operating Income $26,760 $345,114 $355,467 $366,131 $377,115 $388,429 Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment (Through 1999) 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building Depreciation 0.00% 0 0 0 0 0 0 Total Other Income $0 $0 $0 $0 $0 $0 Total Income $28,764 $345,114 $355,467 $3661131 $377.115 , $388,429 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00°/6 3.00% 8,077 96,920 99,828 102,822 105,907 109,084 Insurance 3.00% 3.00% 833 10,000 10,300 10,609 10,927 11,255 Utilities 3.00% 3.00% 5,417 65,000 66,950 68,959 71,027 73,158 Gen & Admin 3.00% 3.00% 833 10,000 10,300 10,609 10,927 11,255 Total Operating Expense $15,160 $181,920 $187,378 $192,999 $198,789 $204,753 Depreciation: Cost Life Building 1,947,000 50 6,490 Equipment 4.37,000 20 3,642 Total Depreciation $10,132 Total Operating Expense & Depre $25,292 Net Income Before Debt Service $3,468 Debt Service $0 Net Income $3,468 Cumulative Depreciation $10,132 Cumulative Profit%Loss $3,468 38,940 21,850 $60,790 $242,710_ $102,404 $103,830 !Md .^nA $70,922 $2,042 $60,790 $248,168 $107,300 $123,830 ($16,530) $131,712 ($14,488) 38,940 21,850 $60 790 $253,789 $112,343 - ($11.1487)_ $192,502 ($25,976) 38,940 $259~,579 $117,536 $123,830 --_ $6,294 $253,292 ($32,269) 38,940 21,850 $60,790 $2651543 $122,886 $133,830 __A$109i41 $314,082 ($43,213) City of Rosemount, Minnesota 3% Escalation for ail yrs, No Other Income $2,100,000 Bond Issue toe Arena Pro-Forma Operating Year Income Escalation 1999 2000 2001 2002 2003 2004 Yr 95-04 Yr 05+ a Operating Income: Ice Time 3.00% 3.00% $306,181 $315,366 $324,827 $334,572 $344,609 $354,947 Services 3.00% 3.00% 93,901 96,718 99,620 102,608 145,687 108,857 Total Operating Income $400,082 $412,084 $424,447 $437,180 $450,295 $463,804 Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment (Through 1999) 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building Depreciation 0.00% 0 0 0 0 0 0 Total Other Income $0 - $0 _ $0 $0 _ $0 $0 Tota! Income $400,082 _ $412,084 $424,447 $437!180 $4x0,295 $463804 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00410 3.00% 112,357 115,728 119,199 122,775 126,459 130,252 Insurance 3.00% 3.00% 11,593 11,941 12,299 12,668 13,048 13,439 Utilities 3.00% 3.00% 75,353 77,613 79,942 82,340 84,810 87,355 Gen & Admin 3.00% 3.000/0 11,593 11,941 12,299 12,668 13,048 13,439 Total Operating Expense $210,895 $217,222 $223,739 $230,451 $237,364 $244,485 Depreciation: Cost Life Building 1,947,000 50 38,940 38,940 38,940 38,940 38,940 38,940 Equipment 437,000 20 21,850 21,850 21,850 -_ 21,850 21,850 21,850 Total Depreciation $60,790 $60,790 $60,790 $60,790 $60,790 $60,790 Total Operating Expense & Depre $271,685 $278,012 $284,529 _$291,241 $298,154 $305,275 Net Income Before Debt Service $128,397 $134,072 $139,918 $145,939 $152,141 $156,529 Debt Service $133,380 $137,900 $147,150 $154,863 $164,288 $166,880 Net Income ($4,983) ($3,828 $7,232) $4 923 _($123146) x$8,351 Cumulative Depreciation $374,872 $435,662 $496,452 $557,242 $618,032 $678,822 Cumulative Profit/Loss ($48,196) ($52,024) ($59,256) ($64,180) ($76,326) ($84,677) City of Rosemount, Minnesota 3% Escalation for all yrs, No Other Income $2,100,000 Bond Issue Ice Arena Pro- Forrna Operating Year Income Escalation 2005 2006 2007 2008 2009 2010 Yr 95-04 Yr 05+ Operating Income: Ice Time 3.000/0• 3.00% $365,596 $376,563 $387,860 $399,496 $411,481 $423,825 Services 3.00°.6 3.00% 112,123 115,487 118,951 _ 122,520 126,195 129,981 Total Operating Income $477,718 $492,050 $506,812 $522,016 $537,676 $553,807 Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment (Through 1999) 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building Depreciation 0.00% 0 0 0 0 0 0 Total Other Income $0 $0 $0 __$0 - $0 $0 Total Income $477,718 $492,050 $5061812 $522,016 $537,676 _ $553,807 Expenses Escalation Yr 95-04 Yr 05+ Cperating Expense: Personnel 3.00% 3.00% 134,160 138,185 142,330 146,800 150,99B 155,528 Insurance 3.001yo 3.00% 13,842 14,258 14,685 15,126 15,580 16,047 Utilities 3.00% 3.00% 89,975 92,674 95,455 98,318 101,268 104,306 Gen & Admin 3.00'% 3.00% 13,842 14,258 14,685 15,126 15,580 16,047 Total Operating Expense $251,820 $259,374 $267,156 $275,170 _ T$283,425 $291,928 Depreciation: Cost Life Building 1,947,000 50 38,940 38,940 38,940 38,940 38,940 38,940 Equipment 437,000 20 21,850 21,850 21,850 21,85_0 21,850 21,850 Total Depreciation $60,790 $60,790 $6090 $60,790 $60,790 $60,790 Total Operating Expense & Depre $312,610 $320,164_ $327,946 $335,960 $344,215 $352,718 Net Income Before Debt Service $165,109 $171,886 $178,866 $186,056 $193,461 $201,088 Debt Service $174,155 $180,825 $186,870 $197,270 $201,713 $210,518 Net Income ($9,046) ($8,939) ($8,004) ($11,214) ___($8,252 ($9,429 Cumulative Depreciation $739,612 $800,402 $861,192 $921,982 $982,772 $1,043,562 Cumulative ProftVLoss ($93,723) ($102,662) ($110,667) ($121,881) ($130,133) ($139,582) City of Rosemount, Minnesota 3% Escalation for all yrs, No Other Income $2,100,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escalation 2011 2012 2013 2014 2015 2016 Yr 95-04 Yr 05+ Operating Income: Ice Time 3.00% 3.00% $436,540 $449,636 $463,125 $477,019 $491,330 $506,070 Services 3.00% 3.40% 133,881 137,897 142,034 146,295 150,684 155,204 Total Operating Income $570,421 $587,533 $605,159 $623,314 $642,014 $661,274 Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment (Through 1999) 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building Depreciation 0.001yo 0 0 0 0 0 0 Total Other Income $0 $0 $0 $0 - - $0 $0 Total Income $570,421 $587,533 $605,159 $623 314 $642,014 $661,274 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00% 3.00% 160,194 165,000 169,950 175,048 180,300 185,709 Insurance 3.00% 3.00% 16,528 17,024 17,535 18,061 18,603 19,161 Utilities 3.00% 3.00% 107,435 110,658 113,978 117,397 120,919 124,547 Cern & Admin 3.00°lo 3.00% 16,528 17,024 17,535 18,061 -18,603 19,161 Total Operating Expense $300,686 $309,707 $318,998 $328,568 $338,425 -$348,578 Depreciation: Cost Life Building 1,947,000 50 38,940 38,940 38,940 38,940 38,940 38,940 Equipment 437,000 20 21,850_ 21,854 18,2080 0_ 0 Total Depreciation $60,790 $60,790 -- $57,148 ` - $38,940- _ $38,940 $38,940 Total Cperating Expense & Depre _ $3£1,476 $370,497 $376,146 $3671508 $377,365 $387,518 Net Income Before Debt Service $208,945 $217,037 $229,013 $255,807 $264,649 $273,757 Debt Service $218,438 $225,405 $241,480 $265,980 _ $273,350 $269,465 Net Income $9,493) $8,368 ($12,467 _ ($10 173 _ ($8,731) $4,292 Cumulative Depreciation $1,104,352 $1,165,142 $1,222,290 $1,261,230 $1,300,170 $1,339,110 Cumulative Profit/Loss ($149,054) ($157,422) ($169,889) ($180,063) {$188,794} ($184,502) City of Rosemount, Minnesota Ice Arena Pro -Forma Income Escalation 2017 Yr 95-04 Yr 05+ Operating Income: Ice Time 3.00% 3.00% $521,252 Services 3.00% 3.00% 159,861 Tota( Operating Income $681,112 Other Income: Banquet Facility 0 Excess Tax Increment (Through 1999) 0 Cost Reduction Contribution 0 Building Depreciation 0.00% 0 Total Other Income $0 Total Income $681,112 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00% 3.00% 191,280 Insurance 3.00% 3.00% 19,736 Utilities 3.00% 3.00% 128,283 Gen & Admin 3.00% 3.00% Total Operating Expense _19,736_ $359,035 Depreciation: Cost Life Building 1,947,000 50 38,940 Equipment 437,000 20 0 Total Depreciation $38,940 Total Operating Expense & Depre $397,975 Net Income Before Debt Service $283,137 Debt Service $259,945 Net Income $23,192 Cumulative Cepreciation $1,378,050 Cumulative Profit/Loss ($161,310) 3% Escalation for all yrs, No Other Income $2,100,Q00 Bond Issue Operating Year 2018 $536,889 164,656 $701,546 0 0 0 $701,546 197,018 20,328 132,132 20,328 $3fi9,806 go $292,600 $0 $292,800 $1,416,990 $131,490 +d1i[11] 0 0 0 0 $0 $722,592 202,929 20,936 136,096 20,936 __$380,900 No $419,840 $302,752 $302, 752 $1,455,930 $434,242 City of Rosemount, Minnesota Ice Arena Pro -Forma Income Escalation 1993 Yr 95-04 `(r 05+ $288,604 Operating Income: 81,000 Ice Time 3.00% 0.00% '$22,010 Services 3.00% 0.0011/0 6,750 Total Operating Income $28,760 Other Income: $377,115 Banquet Facility 0 Excess Tax Increment (Through 1999) 0 Cost Reduction Contribution 0 Building Depreciation 0.00% 0 Total Other Income $0 Total Income $28,760 Expenses Escalation 0 Yr95-04 Yr05+ 0 Operating Expense: 0 Personnel 3.00% 3.00% 8,077 Insurance 3.00% 3.00% 833 Utilities 3.00% 3.00% 5,417 Gen & Admin 3.00% 3.00% 833 Total Operating Expense $15,160 Depreciation'. Cost Life ---_$317,115 Building 1,947,000 50 6,490 Equipment 437,000 20-- 3,642 Total Depreciation $10,132 Total Operating Expense & Depre _$251292 Net Income Before Debt Service $3,468 Debt Service $133,830 Net Income .$0 W. r-8 Cumulative Depreciation $10,132 Cumulabve ProfWl-oss $3,468 3% Escalation through 2084, No Other Income $2,100,000 Bond Issue Operating Year 1994 1995 1996 1997 1998 $264,114 $272,037 $280,199 $288,604 $297,263 81,000 83,430 85,933 88,511 91,166 $345,114 $355,467 $366,131- $377,115 $388,429 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 D 0 $0 $0 $60,790 __- _ $0 $0 $345,114 $355,467 $366,131 ---_$317,115 _$388,429 96,920 99,828 102,822 105,907 109,084 10,000 10,300 10,609 10,927 11,255 65,000 66,950 68,959 71,027 73,158 10,000 10,300 10,609 10,927_ 11,255 $181,924 $187,378 $192,999 $198,789 $204,753 36,940 38,940 38,940 38,940 38,940 21,850 21,650 21,850 _ 21,850 21,850 $60,790 $60,790 $60,790 $60,790 $60,790 $242,710 $248,168 $253,789 $258,579 $265,543 $102,404 $107,300 $112,343 $117,536 $122,886 $103,830 $123,830 $123,830 $123,830 $133,830 --- iw1,426) 1$(6,530) I -1,01.-n __-($6,294) ($10,944) $70,922 $131,712 $192,502 $253,292 $314,082 $2,042 {$14,488} ($25,976) ($32,269) ($43,213) City of Rosemount, Minnesota Ice Arena Pro -Forma Income Escalation 1999 Yr 95-04 Yr 05+ $344,609 Operating Income: 96,718 Ice Time 3.00% 0.00% $306,181 Services 3.00% 0.00°f0 93,901 Total Operating income $400,082 Other Income: $450,295 Banquet Facility 0 Excess Tax Increment (Through 1999) 0 Cost Reduction Contribution 0 Building Depreciation 0.00%0 $223,739 Total Other Income _ $0 Total Income $440,082 Expenses Escalation 38,940 Yr 95-04 Yr 05+ 38,940 Operating Expense: 21,850 Personnel 3.00% 3.00% 112,357 Insurance 3.00% 3.00% 11,593 Utilities 3.00% 3.00% 75,353 Gen & Admin 3.00% 3.000/0 11,593 Total Operating Expense $210,695 Depreciation: Cost Life $298,154 3uilding 1,947,000 50 38,W Equipment 437,000 20 21,850 Total Depreciation $60,790 Total Operating Expense & Depre $271,685 Net Income- Before Debt Service $128,397 Debt Service $133,380 Not Inrnmo !Ktd QAq1 Cumulative Depreciation $374,872 Cumulatve ProfrVLoss ($48,196) 3% Escalation through 2004, No Other Income $2,100,000 Bond Issue Operating Year 2000 2001 2002 2003 2004 $315,366 $324,827 $334,572 $344,609 $354,947 96,718 99,620 102,608 105,687 108,857 $412,084 $424,447 $437,180 $450,295 $463,804 0 0 0 0 $0 $412,084 0 0 0 0 - $0 $424,447 0 0 0 0 $0 $437,180 0 0 0 0 $0 _ $450,295 r i 4 $463,804 115,728 119,199 122,775 126,459 130,252 11,941 12,299 12,668 13,048 13,439 77,613 79,942 82,340 84,810 87,355 11,941 12,299 12,666 13,048 13,439 $217,222 $223,739 $230,451 $237,364 $244,485 38,940 38,940 38,940 38,940 38,940 21,850 21,850 21,850 21,850 21,850 $60,790 $60,790 $60,790 ---- $60,790 $60,790 - $278,012 $284,529 $291,241 $298,154 $305,275 $134,072 $139,918 $145,939 $152,141 $158,529 $137,900 $147,150 $150,863 $164,288 $166,880 t43 a'�Rl DL 7' x),101 1(tA 0071 Sw�p.r-lj Id -1 7 i AL% _.-.-tWIL, -tvI ITD eJei 1 $4,35,662 $496,452 $557,242 $616,032 $678,822 ($52,024) ($59,256) ($64,180) ($76,326) ($34,677) City of Rosemount, Minnesota Ice Arena Pro -Forma Income Escalation 2005 Yr 95-04 Yr 05+ 155,528 Operating Income: 2007 2008 Ice Time 3.00% 0.00-/. $354,947 Services 3.00% 0.00° 108,857 Total Operating Income 108,8 57 _ $463,804 Other Income: 108,857 10 8, 857 Banquet Facility $463,804 0 Excess Taut Increment (Through 1999) 0 Cost Reduction Contribution 38,940 0 Building Depreciation 0.00%0 Total Other Income 21,850 $0 Total Income $60,790 $463,804 Expenses Escalation --$60,790 $60,790 Yr 95-04 Yr 05+ $335,960 Operating Expense: $352,718 Personnel 3.00% 3.00gv 134,160 Insurance 3.00% 3.00% 13,842 Utilities 3.00% 3.0090 89,975 Gen & Admin 3.00% 3.00%-- 13,842 Total Operating Expense ($69,426) $251,820 Depreciation: Cost Life $800,402 Building 1,947,000 50 38,940 Equipment 437,000 20 21,850 TotaJ Depreciation ($347,383) $60,790 Total Operating Expense & Depre - $312,610 Net Income Before debt Service $151,195 Debt Service $174,155 Net Income ($22,960) Cumulative depreciation $739,612 Cumulative Profit/Loss {$107,637} 3% Escalation through 2004, No Other Income $2,100,000 Bona Issue 0 0 $463,804 $0 0 0 $1 $463,804 $463,804 138,165 Operating Year 146,6W 150,998 155,528 2006 2007 2008 2009 2010 $354,947 $354,947 $354,947 $354,947 $354,947 108,8 57 108,8-57 108,857 108,857 10 8, 857 $463,804 $463,804 $463,804 $463,804 $463,804 0 0 $463,804 $0 0 0 $1 $463,804 $463,804 138,165 142,330 146,6W 150,998 155,528 14,258 14,685 15,126 15,580 16,047 92,674 95,455 98,318 101,268 104,306 14,258_ 14,685 15,1_26 15,5E30 16,047 $259,374 $267,156 $275,170 $283,425 $291,928 38,940 38,940 38,944 38,940 36,940 21,850 21,850 21,850 21,850 21,850 $60,790 $60,790 $60,790 --$60,790 $60,790 $320,164 _ $327,946 $335,960 $344,215 $352,718 $143,640 $135,859 $127,844 $119,589 $111,086 -$180,825 $186,870 $197,270 $201,713 $210,518 $37,185} {$51,011 ($69,426) - ($82,124) ($99,431) $800,402 $661,192 $921,982 $962,772 $1,043,562 ($144,822) ($195,834) ($265,260) ($347,383) {$446,814} City of Rosemount, Minnesota Ice Arena Pro -Forma Income Escalation 2011 Yr 95-04 Yr 05+ $354,947 Operating Income: 108,857 108,857 Ice Time 3.00% 0.00% $354,947 Services 3.0090 0.00% _ 108,857 Total Operating Income 0 $463,804 Other Income: 0 0 Banquet Facility 0 0 Excess Tax Increment (Through 1999) 0 Cost Reduction Contribution 0 0 Building Depreciation 0.0090 0 Total Other Income 0 $0 Total Income $0 $463,804 Expenses Esc alati o n $0 Yr 95-04 Yr 05+ $463,804 Operating Expense: $463,804 $463,804 Personnel 3.00% 3.00% 160,194 Insurance 3.00% 3.00% 16,528 Utilities 3.00% 3.00% 107,435 Oen & Admin 3.30% 3.0010 16,523 Total Operating Expense $153,822) $300,686 Depreciation: Cost Life Building 1,947,000 50 38,940 Equipment 437,000 20-- 21,850 Total Depreciation (3848,843) $60,790 Total Operating Expense & Depre $361,476 Net Income Before Debt Service $102,328 Debt Service $218,438 Net fncome ($116,109) Cumulative Depreciation $1,104,352 Cumulative ProfitlLoss ($562,924) 3% Escalation through 2004, No Other Income $2,100,000 Bond Issue Operating Year 2012 2013 2014 2015 2016 $354,947 $354,947 $354,947 $354,947 $354,947 108,a57 108,857 108,857 108,857 108,857 $463,804 $463,804 - $463,804 $463,804 $463,804 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $0 $57,148 $4 $0 $0 $463,804 $463,804 $463,804 $463,804 $463,804 165,000 169,950 175,048 180,300 185,709 17,024 17,535 18,061 18,603 19,161 110,658 113,978 117,397 120,919 124,547 17,024 17,535 18,051 1,9,603 19,161 $309,707 $318,998 $32B,568 $338,425 $340,576 38,940 38,940 36,940 38,940 38,940 21,850 18,208 0 0_ 0 $60,790 $57,148 $38,940 $38,940 $38,940 $370,497 $376,146 $367,508 $3771355 $367,518 $93,308 $87,658 $96,297 $86,440 $76,287 $225,405 $241,460 $265,980 $273,380 $269,465 ($132,097) $153,822) $169,683) x$186,940). ($193,1781 $1,165,142 $1,222,290 $1,261,230 $1,300,170 $1,33.9,110 ($695,021) (3848,843) ($1,018,526) ($1,205,467) ($1,398,645) City of Rosemount:, Minnesota Ice Arena Pro -Forma Income Escalation 2017 Yr 95-04 Yr 05+ -4463--'- Operating Income: 0 0 Ice Time 3.00% 0.40% $334,947 Services 3.40% 0.00%-- 108,857_ Total Operating Income $0 $463,804 Other Income: Banquet Facility 0 Excess Tax Increment (Through 1999) 0 Cost Reduction Contribution 0 Building Depreciation 0.40% 0 Total Other Income ---------- -- $0 Total Income $4£3,804 Expenses Escalation Yr 95-04 Yr 05+ Operabng Expense: Personnel 3.40% 3.00% 191,280 Insurance 3.00% 3.00% 19,736 Utilities 3.40% 3.00% 128,283 Gen & Admin 3.0C°f 3.00°,, 19,735 Total Operating Expense _ $359,035 Depreciation: Cost Life Building 1,947,000 50 38,940 Equipment 437,000 20 0 Total Depreciation $38,940 Total Operating Expense $ Depre $397,975 Net Income Before Debt Service $65,829 Debt Service $259,945 Net Income $1941161 Cumulative Depreciation $1,378,050 Cumulative Profit/Loss ($1,592,760) 3% Escalation through 2004, No Other Income Operating Year 2018 2019 $354,947 $354,947 108,857 108,B57 -4463--'- $463,804 0 0 0 0 0 0 0 0 $0 $0 $463,804 _ $463,B04 197,018 202,929 20,328 20,938 132,132 136,096 20 32n $3619,806 $380,900 36,940 38,940 --0 0 $38,940 $38,940 $408,746 $419,840 $55,058 $43,964 $55,058 $43,964 $1,416,990 ($1,537,702) $1,455,930 ($1,493,737) $2,100,000 Bond Issue City of Rosemount, Minnesota Ice Arena Pro- Forma Total Net Levy Mat Interest Principal & Cap. Debt Year Year Principal Rate Interest interest Interest Payabfe (1) (2) (3) (4) (5) (6) (7) (8) 1991 1993 � 0 3.101/o 103,192 103,192 103,192 0 1992 1994 0 3.50% 123,830 123,830 20,000 103,830 1993 1995 0 3.70% 123,830 123,830 123,830 1994 1996 0 3.90% 123,830 123,630 123,830 1995 1997 0 4.20% 123,830 123,830 123,830 1996 1998 10,000 4.50%10 123,830 133,830 133,830 1997 1999 10,000 4.80°x'0 123,380 133,380 133,380 1998 2000 15,000 5.00% 122,900 137,900 137,900 1999 2001 25,000 5.15% 122,150 147, t 50 147,150 2000 2002 30,000 5.25% 120,863 150,663 150,863 2001 2003 45,000 5.35% 119,288 164,288 164,288 2002 2004 50,000 5.45% 116,880 166,680 166,880 2003 2005 60,000 5.551/10 114,155 174,155 174,155 2404 2006 70,000 5.65% 110,825 180,825 180,825 2005 2007 80,000 5.75% 106,870 186,870 186,870 2006 2008 95,000 5.85% 102,270 197,270 197,270 2007 2009 105,400 5.90% 96,713 201,713 201,713 2008 2010 120,000 5.90%10 90,518 210,518 210,518 2009 2011 135,000 5.95% 83,436 218,438 218,438 2010 2012 150,000 5.95% 75,405 225,405 225,405 2011 2013 175,000. 6.00% 66,480 241,480 241,480 2012 2014 210,000 6.00% 55,980 265,980 265,980 2013 2015 230,000 6,05% 43,380 273,380 273,380 2014 2016 240,000 6.05% 29,465 269,465 269,465 2015 2017 245,000 6.10% 14,945 259,945 259,945 2016 2018 0 6.10% 0 0 0 Totals: 2,100,000 21438,244 4,538,244 123,192 4,415,053 city of Rosemount, Minnesota Ice Arena Pro -Forma Income Escalation 1993 Yr 95-04 Yr 05+ 109,084 Operating Income: 10,300 1994 1995 Ice Time 3.00% 3.00° $22,010 Services 3.00% 3.00% 6,750 Total Operating Income 81,000 83,430 $28,760 Other Income: _ 91,166 $345,114 $355,467 8anquat f=acility $377,115 0 Excess Tax Increment 0 0 Cost Reduction Contribution 0 0 0 Building Depreciation 0.00% i 0 Total Other Income 0 $0 Tota! Income 0 0 Expenses Escalation - $0 - $d- Yr 95-04 Yr 05+ $0 Operating Expense: $366131 _.1 $377,115 - Personnel 3.00°% 3.009'0 8,077 Insurance 3.00% 3.00°/a 833 Utilities 3.00% 3.00% 5,417 Gen & Admin 3.00% 3.00% 833 Total Operating Expense _$37, $15,100 Depreciation: Cost We $278,667 Building 2,044,000 50 6,813 Equipment 520,000 20 4,333 Total Depreciation $11,147 Total Operating Expense & Depre _ $261307 Net Income Before Debt Service $2,453 Debt Service _ $0 Net Income $21453 Cumulative Depreciation $11,147 Cumulative Protit/Loss $2,453 3% Escalation all years, No Other Income $2,310,000 Bond Issue Operating Year 109,084 10,000 10,300 1994 1995 1996 1997 1998 $264,114 $272,037 $280,199 $288,604 $297,263 81,000 83,430 85,933 88,511 _ 91,166 $345,114 $355,467 $366,131 $377,115 $388,429 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - $0 - $d- - -- $ - $0 $345,114 $3552467_ $366131 _.1 $377,115 - $388,429 96,920 99,828 102,822 105,907 109,084 10,000 10,300 10,609 10,927 11,255 65,000 66,950 68,959 71,027 73,158 10,000 10,300 10,609 - 10,927_ 11,255 $181,920 - $187,378 $192,999 $198,789 $204,753 40,880 441880 40,880 40,880 40,880 26,0_00 26,000 26,000 26,000 26,000 -- $66,680 -- $66,880 i $66,880 $66,880 $66,880 $248,800- $254,258 _$259,879 - $265,669 = $271,633 $96,314 $101,210 $106,253 $111,446 $116,796 $134,765 $134,765 $134,765 $154,765 $153,925 _$33,555) =$281512 --$43,319) _$37, $78,027 $144,907 $211,787 $278,667 $345,547 ($35,998) ($69,553) ($98,066) ($141,384) ($178,513) City of Rosemount, Minnesota 3% Escalation all years, No Cather income $2,310,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escalation Yr 95-04 Yr 05+ Operating Income: Ice Time 3.00% 3.00% $306,181 Services 3.00% 3.00%.--- 93,901 Total Operating Income $400,082 $315,366 96,718 $412,064 2001 $324,627 99,620 $424,447 $334,572 102,608 $437,160 2003 $344,609 105,687 $450,295 $354,947 108,857 $463,804 Other Income: 0 0 0 0 0 4 Banquet Facility 0 0 0 0 0 0 Excess Tax Increment 0 0 0 Cost Reduction Contribution 0 0 0 Building Depreciation 0.00% 0 0 0 $0 0 $0 0 0 $4 $0 Total Cather Income $0 $0 Total Income _$400,482 _$412,084 _ $424,447 $437,180 _ $450,295- -$463,804_ Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00% 3.000/0 112,357 115,728 119,199 122,775 126,459 130,252 Insurance 3.00% 3.00% 11,593 11,941 12,299 12,668 13,048 13,439 Utilities 3.000/0 3.00% 75,353 77,613 79,942 82,340 84,810 87,355 Gen & Admin 3.00% 3.00% 11,593 11,941_ 12,299_ 12,668_ 13,048 13,439 Total Operating Expense $210,895 $217,222 $223,739 $230,451 $237,364 $244,485 Depreciation: Cost Life Building 2,044,000 50 40,880 40,880 40,880 40,880 44,880 40,860 Equipment 520,000 20--- 26,000 26,000 26,000 26,000 26,000_ 26,000 Total Depreciation $66,860 $66,880 $66,880 $66,880 $66,880 $66,880 Total Operating Expense & Depre $277,775 $234,102 $290,619 $297331 $304 244 - $311365 Net income Before Debt Service $122,307 $127,982 $133,828 $139,849 $146,051 $152,439 Debt Service $163,025 _ $171,585 _ $174,585 $177,268 _$179,643 $186,700 Net Income ($44,718) _$,9,643). _ ($40,757) - 37,416) _- $3,5g� 261 -�4 Cumulative Depreciation $412,427 $479,307 $546,187 $613,067 $679,947 $746,827 Cumulative Profit/Loss ($219,231) ($262,834) ($303,591) ($341,010) ($374,601) {$408,862} City of Rosemount, Minnesota 0 3% Escalation all years, No Other Income Ice Arena Pro -Forma 0 0 Operating Year Income Escalation 2005 2006 2007 2048 Yr95-04 Yr05+ Excess Tax Increment 0 Operating Expense: °% Personnel 3.00% 3.0034,160 Operating Income: Ice Time 3.00% 3.00% $365,596 $376,563 $387,880 $399 496 Services 3.00% 3,00% 112,123 _ 115,487 _ 118,951 122,520 Total Operating Income -- $477,718 $492,050 $506,812 $522,016 $2,310,000 Bond Issue � 1'. $411,481 _ 126,195 $537,676 Other Income: 0 0 0 0 0 Banquet Facility Yr 95-04 Yr 05+ 0 0 0 0 Excess Tax Increment 0 Operating Expense: °% Personnel 3.00% 3.0034,160 0 0 0 Cost Reduction Contribution 0 0 Insurance 3.00%l0 3.00% 13,842 0 Building Depreciation 0.005'0 0 4 0 - 0 --- --- -0 Total Other Income $0 _ 15,126 15,580 16 16,047 Total Operating Expense Total Income $477718 2010 $423,825 129,981 $553,807 0 0 0 $522,016 -_ $537,676 __$553.807 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: °% Personnel 3.00% 3.0034,160 '1 138,185 142,330 146,600 150,998 155,528 Insurance 3.00%l0 3.00% 13,842 14,258 92,674 14,685 95,455 15,126 98,318 15,580 101,268 16,047 1,306 Utilities 3.04% 3.00% Gen & admin 3.00% 3.00% 89,975 13,842 14,258 _- 14,685 _ 15,126 15,580 16 16,047 Total Operating Expense $251,820 _ $259,374 $257,156 $275,170 $283,425 $291,928 Depreciation, Cost Life Building 2,044,000 50 40,880 40,880 40,880 40,880 40,880 40,880 Equipment 520,000 20 26,000 $66,880 26,000 _ 26,000 $66,880 26,000 $66,880 _ 26,000 $66,880 26,000 $66,880 ` $66,880 Total Depreciation Total Operating Expense & Depre $318,700 -$326,254 _$334,036_$342050 __ $35305 _ $358,808 Net Income Before Debt Service $159,019 $165,796 $172,776 $179,966 $187,371 $194,998 Debt Service $193,158 $203,995 _$203,910 $208,448 $212,305 $210,520 Net Income `4,139} =x$38,199} _x$31,134) 68,482} _�$24,934� _($15,522) _ Cumulative Depreciation $813,707 $380,587 $947,467 $1,014,347 $1,081,227 $1,148,107 Cumulative Profit/Lass ($443,001) ($481,200) ($512,334) ($540,816) ($565,750) ($581,272) City of Rosemount, Minnesota 3% Escalation all years, No Other Income Ice Arena Pro -Forma Operating Year Escalation 2011 2012 2013 2014 Income Yr 95-04 Yr 05+ $477,019 Operating income: $506,070 137,897 Ice Time 3.00°/a 3.000 $436,540 Services 3.00% 3.00% 133,881 Total Operating Income $642,014 $570,421 Other Income: 0 0 Banquet Facility 0 0 Excess Tax Increment 0 0 Cost Reduction Contribution 0 0 Building Depreciation 0.00% 0 Total Other Income 00 $0 Total Income _-- 0 $570,421 _ Expenses Escalation ---$0 Yr95-04 Yr05+ $587,533 Operating Expense: �!$G23L314_ $�42014 Personnel 3.000/0 3.00% 160,194 Insurance 3,00`Yo 3.00% 16,528 Utilities 3.00% 3.00% 107,435 Gen & Admin 3.00% 3.00%- 16,528_ Total Operating Expense $300,686 Depreciation: Cost Life x$981 } Building 2,044,000 50 40,880 Equipment 520,000 20 26,000 ` Total Depreciation $1,467,053 $66,880 Total Operating Expense & Depre $367,566 Net Income Before Debt Service $202,855 Debt Service $223,440 Net Income Cumulative Depreciation $1,214,987 Cumulative Profft/Loss ($0601,857) $2,310,000 Bond Issue 2015 2016 $449,636 $463,125 $477,019 $491,330 $506,070 137,897 142,034 146,295 150,684 155,204 $587,533 - $605,159 $623,314 $642,014 $661,274 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 0 _-- 0 $0 $0 ---$0 - _ $0 $0 $587,533 _ $605,158 �!$G23L314_ $�42014 --$f 61,274 165,000 169,950 175,048 180,300 185,709 17,024 17,535 18,061 18,603 19,161 110,658 113,978 117,397 120,919 124,547 17,024 17,535 18,061 18,603 19,161 $309,707 $318,998 $328,568 $338,425 $348,578 40,880 40,880 40,860 40,880 40,880 26,000 21,667 0 0 0 F $66,880 $62,547- - $40,880 $40,680 $40,880 $376,587 _$381,544 _ $3669448 _$379_,305 $389,458 $210,947 $223,615 $253,867 $262,709 $271,817 $235,110 $235,590 _ $250,390 $263,690 $270,380 ($24,1631 _ ($11, 9751 _ $3 477 x$981 } i $1,437 $1,281,867 $1,344,413 $1,385,293 $1,426,173 $1,467,053 ($626,020) ($637,995) ($634,518) ($635,500) ($634,063) City of Rosemount, Minnesota 3% Escalation all years, No Cather Income $2,310,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escalation 2017 2018 2019 Yr 96-04 Yr 05+ Operating Income: Ice Time 3.00`3'0 3.00% $521,252 $536,889 $552,996 Services 3.00% 3.00% 159,861 164,656 169,596 Total Operating Income $681,112 $701,546 $722,592 Other Income: Banquet Facility 0 0 0 Excess Tax Increment 0 0 0 Cost Reduction Contribution 0 0 0 Building Depreciation 0.00% 0 0 0 Total Other Income Total Income $681,112 $701,546 _$722,592 Expenses Escalation Yr 95-04 Yr 06+ Operating Expense: Personnel 3.00% 3.003'0 191,280 197,018 202,929 Insurance 3.00% 3.009`0 19,736 20,328 20,938 Utilities 3.001% 3.00% 128,283 132,132 136,096 Gen & Admin 3.00% 19,736 20,328 20,938 Total Operating Expense 1$359,035 $369,806 $380,900 Depreciation: Cost Life Building 2,044,000 50 40,880 40,880 40,880 Equipment 520,000 20 0 0- 0 Total Depreciation $40,880 $41),880 $40,680 Total Operating Expense & Depre _$399,915 _$410,686 $421,780 Net Income Before Debt Service $281,197 $290,860 $300,812 Debt Service $275,860 $0 - $0 Net Income - $5,337 $290,860 $300,812 Cumulative Depreciation $1,507,933 $1,548,813 $1,589,693 Cumulative Profit/Loss {$628,725} ($337,866) ($37,054) City of Rosemount, Minnesota 3% Esc thru 04, No Other Income $2,310,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escalation 1993 1994 1995 1996 1997 1998 Yr95-04 Yr05+ Operating Income: Ice Time 3.0096 0.00% $22,010 $264,114 $272,037 $280,199 $288,604 $297,263 Services 3.00% 0.00% 6,750 81,000 83,430 85,933 88,511 91,166 Total Operating Income $28,760 $345,114 $355,467 $366,131 $377,115 $388,429 Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building depreciation 0.00°l0 0 0 0 0 0 0 Total Other Income $0 $0 $0 _ $0 $0 $0 Total Income _ -- a28,760 $345,114 $355,467 66,131 $377,115 $3881429 --- - Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00% 3.00% 8,077 96,920 99,828 102,822 105,907 109,084 Insurance 3.00% 3.00% 633 10,000 10,300 10,609 10,927 11,255 Utilities 3.00% 3.00% 5,417 65,000 66,950 68,959 71,027 73,158 Gen & Admin 3.0010/0 3.00% 833 10,000_ 10,300 10,609 10,927 11,255 Total Operating Expense $15,160 $181,920 $187,378 _ $192,999 $198,789 $204,753 Depreciation: cost Life Building 2,044,000 50 6,813 40,880 40,880 40,880 40,880 40,880 Equipment 520,000 20 4,333 26,000 26,000 26,000 26,000 26,000 Total Depreciation $11,147 $66,880 $66,880 $66,880 $66,880 $66,880 Total Operating Expense & Depre $26,307 $248,800 $254,258 $259,879 $265,669 $271,633 Net Income Before debt Service $2,453 $96,314 $101,210 $106,253 $111,446 $116,796 Debt Service $0 $134,765 $134,765 $134,765 $154,765 $153,925 Net Income $2,453 - ($38,451 $33,5551 ($28,5121 ($43,319) ($37,129) Cumulative Depreciation $11,147 $78,027 $144,907 $211,787 $278,667 $345,547 Cumulative Profit/Loss $2,453 ($35,998) ($69,553) ($98,066) ($141,384) ($178,513) City of Rosemount, Minnesota 3% Esc thru 04, No Other Income $2,310,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escalation 1999 2000 2001 2002 2003 2004 i Yr 95-04 Yr05+ Operating Income: Ice Time 3.00°!1, 0.00% $306,181 $315,366 $324,827 $334,572 $344,609 $354,947 Services 3.00% 0.00% 93,901 96,718 99,620 102,608 105,687 108,857 Total Operating Income $400,082 $412,084 $424,447 $437,184 $450,295 $463,844 i Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building Depreciation 0.00% 0 0 0 0 0 0 Total Other Income $0 --- $4- $0 ----- -$0 $0 4 $0 Total Income $400,082 $412,084 $424,447 $437,180 $450,295 $463,804 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00% 3.00% 112,357 115,728 119,199 122,775 126,459 130,252 Insurance 3.00% 3.000/a 11,593 11,941 12,299 12,668 13,048 13,439 Utilities 3.00% 3.000/0 75,353 77,613 79,942 82,344 84,810 87,355 Gen & Admin 3.00% 3.003ro 11,593 11,941 - 12,299 12,668 13,048 13,439 Total Operating Expense $210,895 $217,222 $223,739 $230,451 $237,364 $244,485 Depreciation: Cost Life Building 2,044,000 50 40,880 40,880 40,880 40,880 44,880 40,880 Equipment 520,000 20 26,000 26,000 26,000 26,000 26_,000_ 26,000 Total Depreciation $66,880 $66,880 $66,880 $66,880 -$66,880 $66,880 Total Operating Expense & Depre $277,775 $2841102_ $290,619 $297,331 $344,244 $311,365 Net Income Before Debt Service $122,307 $127,982 $133,828 $139,849 $146,051 $152,439 Debt Service $163,025 $171,585 $174,585 $177,268 $179,643 $186,700 Net Income --x$40,718 _ C$43,603) - �$40,7v7) ($37,418) ($33,591) ($34,261) Cumulative Depreciation $412,427 $479,307 $548,187 $613,067 $679,947 $746,827 Cumulaiive Profit/Loss ($219,231) ($262,834) ($303,591) ($341,010) ($374,601) ($408,862) City of Rosemount, Minnesota 3% Esc thru 04, No Other Income $2,310,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escalation 2005 Yr 95-04 Yr 05+ 2010 Operating Income: $354,947 $354,947 Ice Time 3.00% 0.00% $354,947 Services 3.00% 0.00% 108,857 Total Operating Income $463,804 $463,8©4 Other Income: $463,804 $463,804 Banquet Facility 4 0 Excess Tax Increment 0 4 Cost Reduction Contribution 0 0 Building Depreciation 0.00% 0 Total Other Income 0 $0 Total Income 0 $463,804 Expenses Escalation 0 - $0 Yr 95-04 Yr 05+ $0 Operating Expense: $463,804 $463,804 Personnel 3.00% 3.00% 134,160 Insurance 3.00% 3.00% 13,842 Utilities 3.00% 3.00% 89,975 Gen & Admin 3.00% 3.00'0 13,842 Total Operating Expense $251,824 Depreciation: Cost Life $1,081,227 Building 2,044,000 50 40,880 Equipment 520,000 20 26,000 Total Depreciation $66,880 Total Operating Expense & Depre $318,700 Net Income Before Debt Service $145,105 Debt Service $193,158 Net Income ($48,053) Cumulative Depreciation $813,707 Cumulative Profit/Loss ($456,915) 2006 2007 2008 2009 2010 $354,947 $354,947 $354,947 $354,947 $354,947 108,857 108,857 108,857 1G8,857 108,857 $463,804 $463,804 $463,804 $463,804 $463,804 0 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - $0 - $4 $0 $0 $0 $463,804 $463,804 $463,804 $463,804 $463,844 138,185 142,330 146,600 150,998 155,528 14,258 14,685 15,126 15,580 16,047 92,674 95,455 98,318 101,268 104,306 14,258 14,685 15,126 16,047 $259,374 $267,156 $275,170 _15_,580 $283,425 $291,928 40,880 40,880 40,880 40,880 40,880 26,000 _ 26,000 26,000 26,000 26,000 $66,884 $661884 $66,880 $66,880 $66,880 $326,254 $334,036 --$34210-50 $350,305 $358,808 $137,550 $129,769 $121,754 $113,499 $104,996 $203,995 $203,910 $208,448 $212,305 $210,520 - (W,445) ($74,141) _ C$86 93)_ ____($98,806} ($105,5241 $880,587 $947,467 $1,014,347 $1,081,227 $1,148,107 ($523,360) ($597,501) ($684,195) ($783,001) ($888,524) City of Rosemount, Minnesota 3% Esc thru 04, No Other Income $2,310,000 Bond Issue Ice Arena Pro -Forma Operating Year Income Escaladon 2011 2012 2013 2014 2015 201E a Yr95-04 Yr05+ Operating Income: Ice Time 3.00% 0.00% $354,947 $354,947 $354,947 $354,947 $354,947 $354,947 Services 3,00% 0.00% 108,857 108,857 108,857 108,857 108,857 108,857 Total Operating income I $463,804 $463,804 $463,804 $463,804 $463,804 $463,804 Other Income: Banquet Facility 0 0 0 0 0 0 Excess Tax Increment 0 0 0 0 0 0 Cost Reduction Contribution 0 0 0 0 0 0 Building Depreciation 0.009`0 0 00 0 0 0 Total Other Income "$0 $0 __ $0 $4 $0 $0 Total Income $463,804 _ $463,804 $3x804 $463,804$463,804 $463,804 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.000/0 3.00% 160,194 165,000 169,950 175,048 180,300 185,709 Insurance 3.00% 3.00% 16,528 17,024 17,535 18,061 18,603 19,161 Utilities 3.00% 3,00% 107,435 110,658 113,978 117,397 120,919 124,547 Gen & Admin 3.00% 3,00%- 16,528 17,024 17,535 18,061 18,603 19,161 Total Operating Expense $300,686 $309,707 $318,998 $328,568 $338,425 _ $348,578 Depreciation: Cost Life Building 2,044,000 50 40,880 40,880 40,880 40,880 40,880 40,880 Equipment 520,000 20 26,000 26,000 21,667_ 0 0 Total Depreciation $66,880 $66,880 $62,547 _0 $40,8$0 $40,880 $40,880 Total Operating Expense & Depre $367,566 $376,587 ____$381,544 $369,448 $379,305 _$989,458 Net Income Before Debt Service $96,238 $87,218 $82,260 $94,357 $84,500 $74,347 Debt Service $223,440 $235,110 $235,590 $250,390 $263,690 $270,380 Net Income _ C$127,202) {$147,892) {$153,33t)� ($156,033)($179,190)t$ _ 196,433 ) Cumulative Depreciation $1,214,987 $1,281,887 $1,344,413 $1,385,293 $1,426,173 $1,467,053 Cumulative Profit/Loss ($1,015,726) ($1,163,618) ($1,316,349) ($1,472,982) ($1,852,172) ($1,848,246) City of Rosemount, Minnesota 3% Esc thru 04, No {ether Income Ice Arena Pro -Forma Operating Year Income Escalation 2017 2018 2019 Yr 95-04 Yr 05+ Operating Income: Ice Time 3.00° 0.00°16 $354,947 $354,947 $354,947 Services 3.00°x6 0.000/ 108,857 108,857_ 108,657 otaf Operating Income $463,804 $463,804 _ $463,804 Other Income: Banquet Facility 0 0 0 Excess Tax Increment 0 0 0 Cost Reduction Contribution 0 0 0 Building Depreciation 0.00% 0 00 Total Cher Income --- ---$0 _ $0_ -__ $0 Total Income _ $461804 $463,804 $4-63,804 Expenses Escalation Yr 95-04 Yr 05+ Operating Expense: Personnel 3.00°x6 3.00°/p 191,280 197,018 202,929 Insurance 3.009'0 3.00`36 19,736 20,328 20,938 Utilities 3.00% 3.00% 128,283 132,132 136,096 Gen & Admin 3.00% 3.00%19,736_ - 20,328 20,938 Total Operating Expense $359,035 - $369,806 $380,900 Depreciation: Cost Life Building 2,044,000 50 40,880 40,880 40,880 Equipment 520,000 20 0 0 0 Total Depreciation $40,880 $40,880 $40,880 Total Operating Expense & Depre $399,915 $410,666 $421,780 Net income Before Debt Service $63,889 $53,118 $42,024 Debt Service $275,860 $0 $0 Net Income x$211,971 - $53,118 - $42,024 Cumulative Depreciation $1,507,933 $1,548,813 $1,589,693 Cumulative Prof'ri/I_oss ($2,060,176) ($2,007,058) ($1,965,033) $2,310,000 Bond Issue City of Hosemount, Mirinesota Ice Arena Pro -Forma Total Net Levy Mat Interest Principal & Cap. Debt Year Year Principal Rate Interest Interest Interest Payable (1) (2) (3) (4) (5) (6) (7) (8) 1991 1993 0 3.10% 1, 12,304 112,304 112,304 0 1992 1994 0 3.50% 134,765 134,755 134,765 1993 1995 0 3.70% 134,765 134,765 134,765 1994 1996 0 3.90% 134,765 134,765 134,765 1995 1997 20,000 4.20% 134,765 154,765 154,765 1996 1998 20,000 4.50% 133,925 153,925 153,925 1997 1999 30,000 4.80% 133,025 163,025 163,025 1998 2000 40,000 5.00% 131,585 171,585 171,585 1999 2001 45,000 5.15% 129,585 174,585 174,585 2000 2002 50,000 5.25% 127,268 177,268 177,268 2001 2003 55,000 5.35% 124,543 179,643 179,643 2002 2004 65,000 5.45% 121,700 186,700 186,700 2003 2005 75,000 5.55% 118,158 193,158 193,158 2004 2005 90,000 5.65% 113,995 203,995 203,995 2005 2007 95,000 5.75% 108,910 203,910 203,910 2006 2008 105,000 5.85% 103,448 208,448 208,448 2007 2009 115,000 5.909/o 97,305 212,305 212,305 2008 2010 120,000 5.90% 90,520 210,520 210,520 2009 2011 140,000 5.95% 83,440 223,440 223,440 2010 2012 160,000 5.95% 75,110 235,110 235,110 2011 2013 170,000 6.00% 65,590 235,590 235,590 2012 2014 195,000 6.00% 55,390 250,390 250,390 2013 2015 220,000 6.05% 43,690 263,690 263,690 2014 2016 240,000 6.05% 30,380 270,3W 270,360 2015 2017 260,000 6.10% 15,860 275,860 275,860 2016 2018 0 6.10% 0 0 0 Totals: 2,310,000 2,554,889 4,864,889 112,304 4,752,585