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HomeMy WebLinkAboutFinance Committee Agenda - June 24, 20131 This Finance Committee is subject to the Ralph M. Brown Act. Among other things, the Brown Act requires that the Finance Committee’s agenda be posted at least seventy-two (72) hours in advance of each regular meeting and that the public be allowed to comment on agenda items before the Finance Committee and items not on the agenda but are within the subject matter jurisdiction of the Finance Committee. The Finance Committee may limit public comments to a reasonable amount of time, generally three (3) minutes per person. It is the intention of the City of Newport Beach to comply with the Americans with Disabilities Act (“ADA”) in all respects. If, as an attendee or a participant at this meeting, you will need special assistance beyond what is normally provided, the City of Newport Beach will attempt to accommodate you in every reasonable manner. If requested, this agenda will be made available in appropriate alternative formats to persons with a disability, as required by Section 202 of the Americans with Disabilities Act of 1990 (42 U.S.C. Sec. 12132), and the federal rules and regulations adopted in implementation thereof. Please contact the City Clerk’s Office at least forty-eight (48) hours prior to the meeting to inform us of your particular needs and to determine if accommodation is feasible at (949) 644-3005 or cityclerk@newportbeachca.gov. CITY OF NEWPORT BEACH FINANCE COMMITTEE AGENDA Newport Coast Conference Room, Bay 2E 100 Civic Center Drive, Newport Beach Monday, June 24, 2013 – 4:00 PM Finance Committee Members: Staff Members: Mike Henn, Council Member, Chair Keith Curry, Mayor Tony Petros, Council Member Dave Kiff, City Manager Dan Matusiewicz, Finance Director Steve Montano, Deputy Finance Director ____________________________________________________ 1) CALL MEETING TO ORDER 2) ROLL CALL 3) PUBLIC COMMENTS Public comments are invited on agenda and non-agenda items generally considered to be within the subject matter jurisdiction of the Finance Committee. Speakers must limit comments to 3 minutes. Before speaking, we invite, but do not require, you to state your name for the record. The Finance Committee has the discretion to extend or shorten the speakers’ time limit on agenda or non-agenda items, provided the time limit adjustment is applied equally to all speakers. As a courtesy, please turn cell phones off or set them in the silent mode. 4) APPROVAL OF MINUTES Approval of the May 13, 2013 Finance Committee meeting minutes. 5) CURRENT BUSINESS A. Audit Entrance Conference: The auditors will provide a brief synopsis of the 2012-13 audit scope, audit planning efforts to date, and new accounting pronouncements. This item provides an opportunity for the Finance Committee to discuss any potential areas of audit concern with the auditors. B. City Insurance Renewals: Renewal of excess general liability, excess workers’ compensation and property insurance coverage is on the June 25, 2013, agenda for City Council approval. This item will give opportunity for Committee Members to ask questions or request more information in advance of formal Council action. 2 C. Fire Fee Schedule: The Committee will review staff’s recommendation to revise the Master Fee Schedule according to CPI and also review the specific changes recommended for Fire Department related fees based on a recent analysis of Fire Department services. D. Third Review of Facilities Financial Planning Tool (FFPT): Staff will present an updated version of the FFPT that incorporates changes resulting from FY 2012-13 financial activity and the adoption of the FY 2013-14 budget. Staff will also review and seek input on what level of FFPT detail should be included in a presentation to the City Council at a future Study Session. E. Demonstration of Long-Range Fiscal Forecasting Tool: Staff will demonstrate the interactive features of the model using data from the FY 2013-14 Operating Budget. 6) FINANCE COMMITTEE ANNOUNCEMENTS OR MATTERS WHICH MEMBERS WOULD LIKE PLACED ON A FUTURE AGENDA FOR DISCUSSION, ACTION OR REPORT (NON-DISCUSSION ITEM) 7) ADJOURNMENT All documents distributed for this meeting are available in the administration office of the Finance Department 1 CITY OF NEWPORT BEACH CITY COUNCIL FINANCE COMMITTEE MAY 13, 2013 MEETING MINUTES 1. CALL TO ORDER The meeting was called to order at 4:00 p.m. in the Council Conference Room, 100 Civic Center Drive, Newport Beach, California 92660. 2. ROLL CALL Present: Council Member Mike Henn (Chair), Mayor Keith Curry and Council Member Tony Petros Staff present: City Manager Dave Kiff, Finance Director Dan Matusiewicz, Deputy Finance Director Steve Montano, Accounting Manager Rukshana Virany, Budget Manager Susan Giangrande and Administrative Coordinator Tammie Frederickson Members of the public: Jim Mosher 3. PUBLIC COMMENTS Council Member Henn noted that written comments were received from Mr. Mosher prior to the meeting. Staff was directed to respond to Mr. Mosher regarding his comment on the distinction between Restricted and Committed funds in connection with Quimby Act and Development Agreement related fees. In response to Mr. Mosher’s inquiry regarding the omission of the Fire Department fees from this agenda, Finance Director Matusiewicz stated the Fire Department needed more time to develop the fee schedule. 4. APPROVAL OF MINUTES Mr. Mosher suggested typographical corrections to the April 22, 2013, minutes. Mayor Curry moved, Council Member Petros seconded to approve the minutes with the typographical corrections. 5. CURRENT BUSINESS A. Budget Review Mr. Matusiewicz reviewed the Fiscal Year (FY) 2013-14 proposed budget overview presentation. He reported that the budget is balanced, increases investments in community serving facilities and proposes more police officers while reducing staffing levels overall. He outlined the budget process and calendar as required by the Charter. City Manager Kiff noted that special events funding is built into the budget. All documents distributed for this meeting are available in the administration office of the Finance Department 2 Mr. Matusiewicz described revenues and noted that property taxes represent the largest share of General Fund revenue. In response to Mayor Curry’s question, Mr. Kiff acknowledged that sales taxes are proposed to exceed pre-recession 2007 levels in FY 2013-14. Mr. Matusiewicz continued with a review of revenue comparisons and noted a 7% increase is projected in transient occupancy tax (TOT). Council Member Petros requested information on how many rooms comprise the 2012-13 TOT. The presentation went on to cover the proposed General Fund expenditures. Mr. Matusiewicz indicated that Public Safety expenditures represent the largest component of the budget and the proposed budget continues prior year investments in both the Capital Improvements Program and the Facilities Financing Reserve fund. There was discussion about how to best show debt service, including the Civic Center COP debt in a way that is understandable to the average reader. Mr. Matusiewicz commented that the City’s priority based budget was built around the priorities of public safety; smarter, smaller government; and high quality physical environment. He expanded on these priorities with a description of the funding proposed for a new crime suppression unit, reinvestment in the 800 MHz communications system and IT strategic investments. Initiatives included in the budget such as continuing to outsource where it makes sense, a reduction of the workforce with the voluntary separation incentive program, and increased contributions made by employees towards their pensions has furthered the smarter, smaller government priority. The City’s priority of a high quality physical environment is furthered through resources dedicated to neighborhood beautification, development of community serving facilities, a General Plan update, airport Environmental Impact Report (EIR), and a supplemental reforestation effort. A total of $32.4 million is proposed to fund Facilities Financing projects including annual funding for the Capital Improvement Program, Marina Park, Sunset Ridge, Lifeguard HQ rehab and the Corona del Mar fire station rebuild. Council Member Petros conveyed his belief that the City should not be the bottleneck that causes CIP project delays and suggested that more funding be directed for staff or contractors to facilitate permit issuance. Mr. Kiff pointed out that a new reserve fund for facilities maintenance will be established to set aside money for large maintenance projects on new facilities. Mr. Matusiewicz noted the presentation includes a slide on a proposed recommendation for support of special event sponsorships. Mr. Kiff added that the Council will review special event support at the May 28 Council meeting. The budget overview presentation displayed detail on the FY 2013-14 General Fund budget surplus of $2.6 million which will allow for recommendations to transfer $1 million to the Facilities Financing Reserve and $500,000 to the Facilities Maintenance Plan, leaving a net General Fund surplus of about $1 million. Mr. Matusiewicz reviewed General Fund reserve funds which will be used All documents distributed for this meeting are available in the administration office of the Finance Department 3 strategically - to cash fund capital projects. Mayor Curry stated the chart should be revised to show how much money was originally available in reserves and reflect how the money is being allocated to specific projects. Further discussion ensued on how to present the information in the reserve fund categories in a consistent format from year to year. Mr. Matusiewicz concluded the presentation by stating the proposed budget is balanced; does not use reserves for operating purposes; increases investment in community serving facilities and beautification projects; adds police officers while reducing overall staffing levels; and continues to address pension and OPEB costs aggressively and comprehensively, as well as outsourcing and staff reductions. Mayor Curry advised a lead-in statement be added to the presentation that indicates the FY 2012-13 budget will end with a surplus without the use of reserves for operating purposes. Developing a Budget in Brief or “quick facts” document was proposed to show what the budget is, how much the budget is increasing and where the increases are occurring. Council Member Henn noted the document should include General Fund revenues and expenditures, CIP and a grand total. Mr. Kiff suggested adding the change in personnel count and a summary of reserves. Mr. Mosher commented that he was unable to verify the amount received for the sale of ABLE equipment. Mr. Kiff directed Mr. Mosher to the Sale of Property shown as a budget line item. Mr. Matusiewicz explained the City did receive its share of the ABLE money and noted the offsetting bad debt expense for outstanding receivables accounts in the budget document. This amount accounts for the discrepancy shown in Other Revenues and the ABLE amount received. 6. FINANCE COMMITTEE ANNOUNCEMENTS OR MATTERS WHICH MEMBERS WOULD LIKE PLACED ON A FUTURE AGENDA FOR DISCUSSION, ACTION OR REPORT (NON-DISCUSSION ITEM) No future agenda items were discussed other than items that will be revised and brought back as directed. 7. ADJOURNMENT The Finance Committee adjourned at 5:13 p.m. Filed with these minutes are copies of all material distributed at the meeting. Attest: Mike Henn, Chair Date Finance Committee Chair CITY OF NEWPORT BEACH FINANCE COMMITTEE AGENDA ITEM INFORMATION Agenda Item No. 5B June 24, 2013 TO: HONORABLE CHAIRMAN AND MEMBERS OF THE COMMITTEE FROM: CITY MANAGER’S OFFICE/HUMAN RESOURCES DEPARTMENT Terri Cassidy, Deputy City Manager/HR Director (949) 644-3303 or tcassidy@newportbeachca.gov SUBJECT: CITY INSURANCE RENEWALS SUMMARY: The City purchases insurance coverage to protect its monetary, real and personal property assets with the major protection coming from excess general liability, excess workers’ compensation and property insurance policies. DISCUSSION: The renewal for Fiscal Year (FY) 2013-14 had two areas of change in the policies of property and excess general liability coverage. 1. Property Insurance (Primary - All Risk, Earthquake and Flood): Adding the new Civic Center Complex (the parks, the parking structure, the library expansion, the city hall, the bridge and more) increased the Total Insured Value (TIV) by approximately 53.6% which is approximately $318,956 in additional premium dollars. This additional amount was funded in the Insurance Service Funds by Council’s FY 2013-14 budget adoption on June 11, 2013. At a later date, the City will see some savings when the old city hall site is deducted from the Total Insured Value or covered by the future lessee’s obligation. 2. Excess General Liability: The City’s current $500,000 self-insured retention (SIR) was not offered to the City by any of the quoting insurance carriers (18 primary carriers and 19 secondary carriers) due to increased pricing in the insurance market along with the City’s recent loss experience of multiple employment law claims, a death claim and several serious injury claims. The outcome of some of these claims is still pending final resolution. City Insurance Renewals June 24, 2013 Page 2 The City received one competitive quote with a higher SIR of $1 million dollars from the current insurance carriers of Ironshore, Arch and AWAC. The only potential insurance market available to the City with a $500,000 SIR is CSAC Excess Insurance Authority, but their tentative quote is pending final approval from their underwriting committee when it meets on June 25, 2013. The remaining concern is due to their policy language that does not include dams, and the City’s Big Canyon Reservoir is defined as a dam by the State of California, Division of Dam Safety Inspection & Certification. The City’s renewal options are: Renewal Option # 1: The City received one competitive quote with a higher SIR of $1 million dollars from the current insurance carriers of Ironshore, Arch and AWAC. Renewal Option # 2: The CSAC Excess Insurance Authority quote of a $500,000 SIR, including coverage for Big Canyon Reservoir. RECOMMENDATIONS: If approved, by CSAC Excess Insurance Authority (and we will know before the Council meeting), staff would recommend Option #2 with the lower SIR of $500,000. However, should that option not be approved, staff would recommend Option #1. Prepared by: Submitted by: /s/ Lauren Farley /s/ Terri Cassidy Lauren Farley HR/Risk Management Administrator Terri L. Cassidy Deputy City Manager/HR Director Attachment: Insurance Coverage & Premium Chart City Insurance Renewals – July 1, 2013 to June 30, 2014 June 25, 2013 Attachment 1 Insurance Carrier & Premium Chart Annual 2013 Insurance Carrier and Premium Annual 2014 Insurance Carrier and Premium % Difference Excess General Liability, $500,000 SIR ($50 million limits) Ironshore, Arch and AWAC $539,276 OPTION # 1 Ironshore, Arch & AWAC - $1,000,000 SIR $561,829 or OPTION # 2 (Incl. Big Canyon Reservoir) CSAC EIA & AWAC $500,000 SIR $579,000 4.2% 7.4% Excess Workers’ Compensation, $500,000 SIR (Statutory Limits) CSAC $298,339 CSAC EIA $334,215 12% Primary Property (All Risk) Earthquake & Flood Deductible 10% of Total Insured Value (TIV) of $378,534,526 ($50 million limits) PEPIP $170,165 PEPIP $243,570 43.14% Multiple Carriers $481,542 Multiple Carriers $727,093 51% Total Premium $1,489,322 Option 1 - $1,866,707 Or Option 2 - $1,883,878 Annual Total CITY OF NEWPORT BEACH FINANCE COMMITTEE AGENDA ITEM INFORMATION Agenda Item No. 5C June 24, 2013 TO: HONORABLE CHAIR AND MEMBERS OF THE COMMITTEE FROM: Finance Department Dan Matusiewicz, Finance Director (949) 644-3123, DanM@newportbeachca.gov SUBJECT: MASTER FEE SCHEDULE UPDATE – FIRE DEPARTMENT ABSTRACT: The City provides various programs and services for the benefit of certain individuals and/or entities that do not benefit the general public. The City has developed certain fees to be charged directly to the parties requesting or requiring these specific services or incurring these costs in order to fully recover its costs and maintain the necessary revenue to operate City programs and services. Section 3.36 of the Municipal Code, “Cost Recovery for User Services”, authorizes the City to recover the actual cost of providing services, which includes, but may not be limited to, direct labor costs, administration or overhead costs, and the cost of materials and supplies. With Finance Committee input and approval, Finance staff will bring the proposed Fire Department fee recommendation to the City Council for formal approval. BACKGROUND: On April 13, 2010, Council approved a six-year professional service agreement with MGT of America, Inc. (MGT) to update the cost allocation plan and prepare a cost of services study for the City of Newport Beach. MGT provides an in-depth analysis of each department approximately every three years. The Fire Department (Fire) fees have not been updated since 2008. Fire reviewed the current fee schedule and discovered that it no longer accurately reflected the services currently being provided. Using the Orange County Fire Authority (OCFA) fee schedule as a template, the Fire Department provided MGT with the list of services to be cost-studied. Since the OCFA fee schedule is used by 26 out of the 34 cities in Orange County, the organization and structure is familiar to developers who are assessed building inspection and permit related fees throughout the county. Working with Fire, MGT identified the amount of staff time allocated and the cost of materials needed for each service identified in the Fire fee schedule. Fees were calculated and based upon the principle of full cost recovery. Fire reviewed the fee Master Fee Schedule Update – Fire Department June 24, 2013 Page 2 schedule for accuracy and reasonableness. Based on this review, department staff made subsidy recommendations pursuant to NBMC Section 3.36.030. DISCUSSION: Over the last two (2) years, the Fire Department has undergone organizational changes to increase efficiencies and incorporate best practices. When Fire reviewed the current fee schedule, it found that the fees were too general for many of the services and therefore organized the fees into the following four (4) categories: 1. Junior Guards; 2. Life Safety Planning and Development; 3. Life Safety Inspection Services; and 4. Emergency Medical Services Junior Guards In the past, residents have received the benefit of a 15% discount from the full cost of the registration fee for Junior Guards. Fire recommends the continuation of the subsidy to encourage residents to participate in this program. Life Safety Planning and Development These fees are associated with required development oversight activities, plan review and related field inspections. The Fire Department utilized the OCFA fee schedule as a starting point for the Planning and Development section, and refined the time inputs to accurately reflect Newport Beach’s cost of providing these services. Newport Beach’s proposed fees, when compared to the OCFA fee schedule, are in most cases, lower. Additionally, Fire worked with several stakeholders from the Ad Hoc Architectural Committee and incorporated their suggested modifications. The Life Safety Planning and Development fees were revised to a flat, as opposed to variable, fee structure to help customers understand the upfront and total cost of services. The proposed fee schedule also narrowly defines the type of fire service and related fees. This specificity allows for the effective use of permit tracking and billing software to more accurately calculate the fee amounts. Consequently, the number of individual fees listed in this section have increased. Life Safety Inspection Services These fees are primarily for the issuance and renewals of various operating permits. These permits generally require an initial issuance fee, then a slightly smaller renewal fee annually thereafter. The proposed life safety inspection services fee schedule better follows the structure and requirements of the California Fire Code (CFC). Some of the fees that would not apply to Newport Beach, such as aviation facilities, fruit and crop ripening, storage of scrap tires and tire byproducts, and tire rebuilding plants, have been eliminated. Master Fee Schedule Update – Fire Department June 24, 2013 Page 3 The CFC lists 47 operational permits; our current fee schedule lists only 3. By including most of the operational permits found in the CFC, the Fire Department is able to provide more accurate time estimates for each type of operations permit. For example, a relatively straight forward small dry cleaning plant is recommended at the full cost recovery fee of $153, which is less than the more complex water reactive hazardous material inspection, which is recommended at $257. However, if a customer were to obtain a permit for either of those services under the current fee schedule, then that customer would pay $168, which, in this context, is less accurate or equitable. The number of fees in this section has increased as well. As with Planning and Development, the fees for services were separated into issuance (which takes more time) and renewal. By doing so, activities required for Inspection Services are more closely aligned to the costs of providing those services, thereby improving fee accuracy. Emergency Services Emergency Services primarily comprise of Advanced Life Support (ALS), Basic Life Support (BLS), Transport and the Fire Medics fee. In the past, the City has adopted the rates for private ambulance approved by the County of Orange. Staff requested MGT to study the City’s ambulance costs as part of the update to the City fee schedule. MGT analyzed the City’s transports costs using the same methodology as currently used by the County of Orange. Based on MGT analysis, staff is recommending an adjustment to the City’s ALS/BLS transport fees. Newport Beach residents have the option of participating in the Fire Medics program. Participants receive unlimited paramedic service and emergency ambulance transportation within City limits with no out-of-pocket expenses. The Fire Medics fee has not been increased since 2003. Fire recommends a one dollar monthly increase , which would bring the total annual fee to $60 per household or business. Businesses would also pay an additional $25 for each unit of 10 employees, up to $410 maximum. Businesses with fewer than 10 employees are not subject to the $25 fee. NBMC Section 3.36 Subsidies Currently, the Fire Department has six (6) subsidized fees: 1. ALS-Escorted (up to 80%) (NBMC Section 3.36); 2. ALS-Not Escorted (up to 80%) (NBMC Section 3.36); 3. BLS-Escorted (up to 80%) (NBMC Section 3.36); 4. BLS-Not Escorted (up to 80%) (NBMC Section 3.36); 5. Day Care Facilities state mandated inspection (25%) (NBMC Section 3.36); and 6. Residential preference for the Junior Guard resident registration fee (Resolution No. 2000-1) In order to fully recover the costs of these services, Fire is recommending that all subsidies be removed, except for the residential Junior Guard registration fee. Fire Master Fee Schedule Update – Fire Department June 24, 2013 Page 4 recommends maintaining the Junior Guard registration subsidy so that Newport Beach residents have better access to this popular program. If Council approves the Junior Guard subsidy, it, will be moved from Resolution to NBMC Section 3.36. With Finance Committee input and approval, Finance staff will bring the proposed recommendations to the City Council for formal approval. Prepared by: Submitted by: /s/Evelyn Tseng /s/Dan Matusiewicz Evelyn Tseng Dan Matusiewicz Revenue Manager Finance Director Attachment: Fire User Fee Study Summary Sheets CITY OF NEWPORT BEACH FINANCE COMMITTEE AGENDA ITEM INFORMATION Agenda Item No. 5D June 24, 2013 TO: HONORABLE CHAIRMAN AND MEMBERS OF THE COMMITTEE FROM: FINANCE DEPARTMENT Dan Matusiewicz, Finance Director (949) 644-3123 or DanM@NewportBeachCA.gov SUBJECT: FACILITIES FINANCIAL PLANNING TOOL UPDATE SUMMARY: City Council Policy F-28, Facilities Financial Planning Program (FFPP), requires that staff prepare an update to the long-term facilities replacement plan in conjunction with the annual budget process for review, modification and approval by the City Council. Staff has reviewed the Facilities Financial Planning Tool (FFPT) at two previous Finance Committee meetings and briefly reviewed FFPT highlights during the May 28 Budget Study Session. Council members indicated it would be appropriate to have a more in-depth review of the FFPT at a future Study Session. In preparation for the future study session, staff has prepared an update of the FFPT to reflect current fiscal year activity and the FY 2013-14 adopted budget. Staff welcomes input and recommends that the Committee receive and file the attached FFPT update and provide staff any input regarding the level of detail appropriate for a Study Session. DISCUSSION: Finance Committee reviewed the FFPT at the March 25, 2013 and April 22, 2013 Finance Committee meetings. Since the last review, the most significant changes include the following: 1) The City contributions to the Facilities Financial Reserve Fund increased $3.5 million in FY 2012-13 and $1 million in FY 2013-14. 2) Certain developer contributions in the amount of $729,459 have not been received to date in FY 2012-13 so they have been deferred to FY 2013-14. The precise timing of developer contributions are difficult to predict. We are not aware of any circumstances that may significantly delay these development contributions. Facilities Financial Planning Tool Update June 24, 2013 Page 2 3) Since Coastal Development permits have not yet been received on Sunset Ridge and Marina Park, we have deferred the estimated construction start date to FY 2013-14. KEY PLANNING HIGHLIGHTS: • The revised FFPT relies mostly on front-loaded cash contributions for the near-term projects, and very little new proposed debt issuance over the 30- year planning period. • Priority near-term projects, including Marina Park, Sunset Ridge Park, Corona del Mar Fire Station, and the Lifeguard Headquarters remodel are planned to be cash funded. • The Police Facility project is assumed to start in 2020 and can be funded by cash contributions and a new debt issuance of $20 million, which is significantly less than the estimated $64 million project cost. • City Council (F-6), Debt Management Policy, restricts debt service as a percentage of General Fund revenues to remain below 8%. Debt service reaches a maximum of 4.9%, and averages 3.7% over the 30-year planning period. • The remaining debt capacity, net of current debt service obligations, is nearly $81 million. • Over the 30-year planning period, the maximum annual General Fund contribution to the FFP reserve fund is 4.8% and averages 4.3% of General Fund revenues. • The FFP reserve fund minimum target fund balance is maintained above the Maximum Annual Debt Service (MADS), $8.8 million over the 30-year planning period. KEY ASSUMPTIONS: Projects Included in the Analysis Only General Fund projects are addressed and new facilities are not included unless specifically identified. Potential expenses for dredging are not included and will have to be budgeted as part of the ongoing annual Tidelands Improvement Master Plan (TIMP). Expenses for land acquisition are not included unless identified as part of the project. Building maintenance and operation costs are not included and will be addressed in a forthcoming Building Maintenance Master Plan. General Fund Revenue General Fund revenues are assumed to increase modestly between 2% and 2.5% to be consistent with a conservative approach to debt affordability. Facilities Financial Planning Tool Update June 24, 2013 Page 3 Project Costs Estimated project costs are based on current time-frame estimates by Public Works. Construction costs are projected to increase 2.5% annually. Project and cost projections are revised periodically and are assumed to include project management expenditures. Debt Service Levels Debt Service will be maintained at less than 8% of General Fund revenues. This is consistent with Council Policy (F-6) Debt Management Policy. RECOMMENDATIONS: Staff welcomes input on the proposed scenarios and recommends that the Committee receive and file the report and provide any additional input regarding the desired level to be presented at a full Council Study Session. Prepared by: Submitted by: /s/ Rukshana Virany /s/ Dan Matusiewicz Rukshana Virany Accounting Manager Dan Matusiewicz Finance Director Attachments: Facilities Financial Planning Tool (FFPT)  6/20/2013 Start Est. Project D a t e Y r s  to  Priority  Projects C o s t ( F i s c a l  Yr) S t a r t 2 Marina  Park  30,000,000               2014 0 3 Sunset  Ridge 1 1 , 0 0 0 , 0 0 0               2014 0 11 FS  5  ‐ CDM 4 , 2 2 5 , 0 0 0                 2014 0 4 Lifeguard  HQ  Remodel 1 , 5 0 0 , 0 0 0                 2014 0 5 City  Hall  Demo 1 0 0 , 0 0 0                     2014 0 8 West  Newport  Comm  Ctr 1 0 , 0 0 0 , 0 0 0               2015 1 7 FS  2  ‐ Lido 4 , 2 2 5 , 0 0 0                 2015 1 13 Bonita  Creek  ‐ Artificial  Turf 2 , 0 0 0 , 0 0 0                 2015 1 10 Big  Canyon  Aux. Yard 1 , 0 0 0 , 0 0 0                 2015 1 9 Utilities/Corporate  Yard  Merge ‐                            2015 1 6 FS  1  ‐ Penisula 4 , 2 2 5 , 0 0 0                 2019 5 1 2 12 Police  Station  @  Current  Site 6 4 , 3 7 5 , 0 0 0               2020 6 FA C I L I T I E S  FI N A N C I A L  PL A N N I N G  TO O L  (F F P T )  DA S H B O A R D          ‐ 20 , 0 0 0 , 0 0 0   40 , 0 0 0 , 0 0 0   60 , 0 0 0 , 0 0 0   80 , 0 0 0 , 0 0 0   10 0 , 0 0 0 , 0 0 0   12 0 , 0 0 0 , 0 0 0   2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 2 0 3 2 2 0 3 3 2 0 3 4 2 0 3 5 2 0 3 6 2 0 3 7 2 0 3 8 2 0 3 9 2 0 4 0 2 0 4 1 Pr o j e c t  Fu n d i n g Ca s h  Fu n d e d  Co n s t r u c t i o n De b t  Fu n d e d  Co n s t r u c t i o n ‐ 10 , 0 0 0 , 0 0 0   20 , 0 0 0 , 0 0 0   30 , 0 0 0 , 0 0 0   40 , 0 0 0 , 0 0 0   50 , 0 0 0 , 0 0 0   60 , 0 0 0 , 0 0 0   70 , 0 0 0 , 0 0 0   80 , 0 0 0 , 0 0 0   90 , 0 0 0 , 0 0 0   2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 2 0 3 2 2 0 3 3 2 0 3 4 2 0 3 5 2 0 3 6 2 0 3 7 2 0 3 8 2 0 3 9 2 0 4 0 2 0 4 1 Pr o j e c t  Ex p e n d i t u r e s Total 1 3 2 , 6 5 0 , 0 0 0             Scenario  Highlights Marina  Park  ‐ 2014 Sunset  Ridge  ‐ 2014 Lifeguard  Head  Qtrs  ‐ 2014 Fire  Station  5  ‐ CDM  ‐ 2014 West  Newport  Comm  Ctr  ‐ 2015 Police  Station  ‐ 2020 Predicated  on  $27  million  of  developer  contributions  in  FY  2014 $20  million  debt  issue  in  2021  for  Police  Station 3 4 Key Metric Target MaxPolicy GF Co n t r i b u t i o n to FF P GF Co n t r i b u t i o n to FF P Co m p a r e d ‐ 10 , 0 0 0 , 0 0 0   20 , 0 0 0 , 0 0 0   30 , 0 0 0 , 0 0 0   40 , 0 0 0 , 0 0 0   50 , 0 0 0 , 0 0 0   60 , 0 0 0 , 0 0 0   70 , 0 0 0 , 0 0 0   80 , 0 0 0 , 0 0 0   90 , 0 0 0 , 0 0 0   2 0 1 1 2 0 1 3 2 0 1 5 2 0 1 7 2 0 1 9 2 0 2 1 2 0 2 3 2 0 2 5 2 0 2 7 2 0 2 9 2 0 3 1 2 0 3 3 2 0 3 5 2 0 3 7 2 0 3 9 2 0 4 1 FF P  Re s e r v e  Ba l a n c e ‐ 5, 0 0 0 , 0 0 0   10 , 0 0 0 , 0 0 0   15 , 0 0 0 , 0 0 0   20 , 0 0 0 , 0 0 0   25 , 0 0 0 , 0 0 0   30 , 0 0 0 , 0 0 0   20 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 An n u a l  GF  Co n t r i b u t i o n s Pe r i o d i c  GF  or  On e ‐ti m e  Tr a n s f e r s Pr i v a t e   Co n t r i b u t i o n s In t e r e s t  Ea r n i n g s Ca s h  Co n t r i b u t i o n s Key  Metric Target Max Debt  Svc  as  % of  Revenues 5 . 0 % 8 . 0 % Minimum  FFP  Reserve  Balance  (000's) 8 , 8 4 6 $                 NA Key  Statistics M i n M a x A v g GF  Contribution  to  FFP  (000's) 4 , 6 7 6                         10,239               8,471                         Debt  Service  (000's) 7 , 9 6 7                         8,846                 8,376                         GF  Contributions  to  FFP  as  % Rev 2 . 8 8 % 4 . 8 % 4 . 4 % Debt  Svc  as  % of  Revenues 3 . 8 6 % 4 . 9 % 4 . 4 % FFP  Balance  (000's) 9 , 3 4 3 $                 62,655 $        24,235 $                Project  Balance  (000's) 9 4 7 $                    23,183 $        5,561 $                   5 6 30  Year15 Year 0. 0 0 % 1. 0 0 % 2. 0 0 % 3. 0 0 % 4. 0 0 % 5. 0 0 % 6. 0 0 % 7. 0 0 % 8. 0 0 % 9. 0 0 % 10 . 0 0 % 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 2 0 3 2 2 0 3 3 2 0 3 4 2 0 3 5 2 0 3 6 2 0 3 7 2 0 3 8 2 0 3 9 2 0 4 0 2 0 4 1 GF  Co n t r i b u t i o n  to  FF P   as  a  Pe r c e n t  of  GF  Re v e n u e GF  Co n t r i b u t i o n  % Bu d g e t De b t  Se r v i c e  ‐ as  % of  Re v e n u e s $0 $2 , 0 0 0 , 0 0 0 $4 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $8 , 0 0 0 , 0 0 0 $1 0 , 0 0 0 , 0 0 0 $1 2 , 0 0 0 , 0 0 0 $1 4 , 0 0 0 , 0 0 0 $1 6 , 0 0 0 , 0 0 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 2 0 3 2 2 0 3 3 2 0 3 4 2 0 3 5 2 0 3 6 2 0 3 7 2 0 3 8 2 0 3 9 2 0 4 0 2 0 4 1 GF  Co n t r i b u t i o n  to  FF P  Co m p a r e d   to  De b t  Se r v i c e GF  Co n t r i b u t i o n  to  FF P De b t  Se r v i c e De b t  Se r v i c e  Ca p ac i t y De b t  Se r v i c e  as  % of  GF  Re v e n u e s Key  Statistics M i n M a x A v g GF  Contribution  to  FFP  (000's) 4 , 6 7 6                         14,006               10,161                       Debt  Service  (000's) 1 , 3 2 6                         8,846                 8,298                         GF  Contributions  to  FFP  as  % Rev 2 . 8 8 % 4 . 8 % 4 . 3 % Debt  Svc  as  % of  Revenues 0 . 4 0 % 4 . 9 % 3 . 7 % FFP   Reserve  Balance  (000's) 9 , 3 4 3 $                 99,465 $        37,122 $                Project  Balance  (000's) 9 4 7 $                    23,183 $        4,763 $                   7 8 Remaining  Debt  Capacity  (Dbt. Svc  < or  = 8% of  GF  Rev):80,834,025                ‐ 5, 0 0 0 , 0 0 0   10 , 0 0 0 , 0 0 0   15 , 0 0 0 , 0 0 0   20 , 0 0 0 , 0 0 0   25 , 0 0 0 , 0 0 0   30 , 0 0 0 , 0 0 0   2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 2 0 3 2 2 0 3 3 2 0 3 4 2 0 3 5 2 0 3 6 2 0 3 7 2 0 3 8 2 0 3 9 2 0 4 0 2 0 4 1 py Ma x  De b t  Se r v i c e  ‐ 8%  of  Re v e n u e s De b t  Se r v i c e 0. 0 0 % 1. 0 0 % 2. 0 0 % 3. 0 0 % 4. 0 0 % 5. 0 0 % 6. 0 0 % 7. 0 0 % 8. 0 0 % 9. 0 0 % 10 . 0 0 % 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 2 0 3 2 2 0 3 3 2 0 3 4 2 0 3 5 2 0 3 6 2 0 3 7 2 0 3 8 2 0 3 9 2 0 4 0 2 0 4 1 De b t  Se r v i c e  ‐ as  % of  Re v e n u e s Project  Total I n t e r e s t  Debt  Service  Description Y e a r P r o c e e d s C O I I s s u e R a t e T e r m M a t u r i t y 20 1 0  Civic  Center  COPs  2011 1 2 3 , 0 0 0 , 0 0 0       1,289,442      124,289,442       4.4% 3 0 2 0 4 1 20 2 1  Police  Facility  COPs 2 0 2 1 2 0 , 0 0 0 , 0 0 0         380,000          20,380,000         5.0% 3 0 2 0 5 1 Tr a u n c h  300005.0%3030 PR O J E C T  PL A N N I N G FY F V N e t YR C u r r e n t R e p l E s t  $ A g e U s e f u l Y e a r s  to C o s t  Es t . P r o j e c t S t a r t C o s t  Est  @ P r i v a t e P r o p o s e d E s t . SK F u n c t i o n P r o j e c t B u i l t S q  Ft S q  Ft / S q  Ft 2 0 1 3 L i f e S t a r t D a t e E s t i m a t e D a t e 2 . 5 %  Growth C o n t r i b t i o n s C o s t D e b t  Svc  @  5% 1 G e n  Go v C i v i c  Ce n t e r 2 0 1 3 1 5 0 ‐3 J a n ‐12 1 4 0 , 0 0 0 , 0 0 0          20 1 1 1 4 0 , 0 0 0 , 0 0 0             ‐                      140,000,000      9,107,201              1 G e n  Go v C i t y  Ha l l  De m o 2 0 1 5 ‐1 5 0 0 J a n ‐12 1 0 0 , 0 0 0                          20 1 4 1 0 0 , 0 0 0                    100,000             6,505                      2 C o m b o P o l i c e / R e c  Co m b o  @  Co r p  Yr d 1 9 7 3 4 7 , 9 6 4        60 , 0 0 0          65 0              41 5 0 N / A ‐                                            ‐                              ‐                       ‐                          Po l i c e P o l i c e  St a t i o n    @  Co r p .  Yr d . 1 9 7 3 4 7 , 9 6 4        60 , 0 0 0          65 0              41 5 0 N / A ‐                                            ‐                              2 P o l i c e P o l i c e  St a t i o n  @  Cu r r e n t  Si t e 1 9 7 3 4 7 , 9 6 4        60 , 0 0 0          65 0              41 5 0 6 J a n ‐12 6 4 , 3 7 5 , 0 0 0              20 2 0 7 4 , 6 5 5 , 2 6 4              74,655,264        4,856,432              4 F i r e F S  1  ‐   Pe n i s u l a 1 9 6 2 3 , 4 2 3              6, 5 0 0              65 0              52 5 0 5 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 1 9 4 , 7 8 0 , 2 0 0                4,780,200          310,959                 4 F i r e F S  2  ‐   Li d o 1 9 5 2 9 , 9 5 3              6, 5 0 0              65 0              62 5 0 1 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 1 5 4 , 3 3 0 , 6 2 5                2,219,446          2,111,180          137,335                 4 F i r e F S  3  ‐   Sa n t a  Ba r b a r a 1 9 7 1 1 3 , 6 0 5        6, 5 0 0              65 0              43 5 0 7 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 2 1 5 , 0 2 2 , 1 9 7                5,022,197          326,701                 4 F i r e F S  4  ‐   Ba l b o a  Is l a n d 1 9 9 4 4 , 4 0 0              6, 5 0 0              65 0              20 5 0 3 0 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 4 4 8 , 8 6 2 , 2 2 3                8,862,223          576,500                 4 F i r e F S  5  ‐   CD M 1 9 5 0 2 , 0 9 5              6, 5 0 0              65 0              64 5 0 0 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 1 4 4 , 2 2 5 , 0 0 0                4,225,000          274,842                 4 F i r e F S  6  ‐   Ma r i n e r s 1 9 5 7 2 , 9 6 5              6, 5 0 0              65 0              57 5 0 8 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 2 2 5 , 1 4 7 , 7 5 2                5,147,752          334,869                 4 F i r e F S  7  ‐   SA H 2 0 0 7 1 1 , 0 2 7        6, 5 0 0              65 0              7 5 0 4 3 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 5 7 1 2 , 2 1 6 , 6 7 2              12,216,672        794,712                 4 F i r e F S  8  ‐   Np t .  Co a s t 1 9 9 5 6 , 9 7 5              6, 5 0 0              65 0              19 5 0 3 1 J a n ‐12 4 , 2 2 5 , 0 0 0                    20 4 5 9 , 0 8 3 , 7 7 9                9,083,779          590,913                 4 F i r e L i f e g u a r d  HQ  Re m o d e l 1 9 5 8 7 , 7 2 5              7, 7 2 5              18 0              56 5 0 0 J a n ‐12 1 , 5 0 0 , 0 0 0                    20 1 4 1 , 5 0 0 , 0 0 0                1,500,000          97,577                    5 F i r e N e w p o r t  Jr .  Gu a r d  Bu i l d i n g 0   20 1 4 5 0 6 M a y ‐12 1 , 2 0 0 , 0 0 0                    20 2 0 1 , 3 9 1 , 6 3 2                1,043,724          347,908             22,632                    5      Li b r a r y L i b r a r y ‐Ce n t r a l  Cl e r e s t o r y  & Re p a i r 0 2 0 1 4 ‐3 1 , 4 0 5 , 3 0 5                    2, 0 1 1   1,405,305                1,405,305          91,417                    5 L i b r a r y L i b r a r y ‐Ba l b o a 1 9 6 2 5 , 5 6 6              5, 0 0 0              52 5 0 4 8 J a n ‐12 ‐                                            20 6 2 ‐                             ‐                       ‐                          5 L i b r a r y L i b r a r y ‐CD M 1 9 5 8 4 , 3 2 3              ‐                        56 5 0 4 8 J a n ‐12 ‐                                            20 6 2 ‐                             ‐                       ‐                          5 L i b r a r y L i b r a r y ‐Ma r i n e r s 2 0 0 6 1 5 , 3 0 5        8 5 0 4 2 J a n ‐12 6 , 8 4 5 , 3 5 5                    20 5 6 1 9 , 3 1 0 , 7 1 4              19,310,714        1,256,190              5 L i b r a r y L i b r a r y ‐Ce n t r a l 1 9 9 7 5 0 , 9 3 0        65 , 0 0 0          40 0              17 5 0 3 8 J a n ‐12 2 6 , 0 0 0 , 0 0 0              20 5 2 6 6 , 4 4 7 , 7 4 3              66,447,743        4,322,521              6 R e c  Fa c i l i t y M a r i n a  Pa r k  Gi r l  Sc o u t  Ho u s e 1 9 5 6 5 , 5 0 0              4, 0 0 0              58 5 0 0 J a n ‐12 ‐                                            20 1 4 ‐                             ‐                       ‐                       ‐                          6 R e c  Fa c i l i t y M a r i n a  Pa r k   NA N A 5 0 0 J a n ‐12 3 0 , 0 0 0 , 0 0 0              20 1 4 3 0 , 0 0 0 , 0 0 0              30,000,000        1,951,543              6 R e c  Fa c i l i t y N e w p o r t  Co a s t  Ct r 2 0 0 7 1 6 , 8 6 5        16 , 8 6 5          60 2              7 5 0 4 3 J a n ‐12 9 , 9 8 4 , 7 9 7                    20 5 7 2 8 , 8 7 1 , 2 4 1              28,871,241        1,878,116              6 R e c  Fa c i l i t y N e w p o r t  Th e a r t e r  Ar t s  Ce n t e r 19 7 3 8 , 0 4 2              12 , 0 0 0          50 0              41 5 0 3 6 J a n ‐12 6 , 0 0 0 , 0 0 0                    20 5 0 1 4 , 5 9 5 , 2 1 2              7,297,606          7,297,606          474,720                 6 R e c  Fa c i l i t y O A S I S  Sr .  Ct r 2 0 1 0 3 6 , 4 6 7        43 , 2 3 2          36 0              4 6 0 4 6 J a n ‐12 1 5 , 5 7 7 , 1 1 6              20 6 0 4 8 , 5 0 4 , 8 1 6              48,504,816        3,155,308              6 R e c  Fa c i l i t y S u n s e t  Ri d g e 2 0 1 4 5 9 5 , 4 6 5    0 5 0 0 J a n ‐12 1 1 , 0 0 0 , 0 0 0              20 1 4 1 1 , 0 0 0 , 0 0 0              11,000,000        715,566                 6 R e c  Fa c i l i t y W e s t  Ne w p o r t  Co m m  Ct r 2 0 1 6 2 0 , 0 0 0          ‐ 2 5 0 1 J a n ‐12 1 0 , 0 0 0 , 0 0 0              20 1 5 1 0 , 2 5 0 , 0 0 0              10,250,000        666,777                 6 R e c  Fa c i l i t y B o n i t a  Cr e e k  ‐   Ar t i f i c i a l  Tu r f 15 1 2 , 0 0 0 , 0 0 0                    20 1 5 2 , 0 5 0 , 0 0 0                2,050,000          133,355                 6 R e c  Fa c i l i t y W e s t  Ne w p o r t  La n d  Pu r c h a s e 2 0 1 3 2 1 7 , 8 0 0    1 ∞ ‐1 J a n ‐12 4 , 3 0 8 , 1 9 9                        20 1 3 4 , 2 0 3 , 1 2 1                  4,203,121            273,419                   3 M O D U t i l i t i e s / C o r p o r a t e  Ya r d  Me r g e 0 5 0 1 M a y ‐12 ‐                                            20 1 5 ‐                             ‐                       ‐                       ‐                          3 M O D B i g  Ca n y o n  Au x .  Ya r d 0 5 0 1 M a y ‐12 1 , 0 0 0 , 0 0 0                    20 1 5 1 , 0 2 5 , 0 0 0                1,025,000          66,678                    Sc e n a r i o  C 00 1 2 3 4 5 6 7 8 9 1 0 1 1 1 2 20 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 AF F O R D A B I L I T Y  AS S U M P T I O N s Ge n e r a l  Fu n d  Re v e n u e s 15 0 , 7 3 5 , 3 2 4                      15 6 , 1 0 0 , 4 5 7                    16 2 , 3 2 4 , 1 2 4                            16 5 , 8 7 2 , 6 9 1                       16 9 , 1 9 0 , 1 4 4                 17 3 , 4 1 9 , 8 9 8                       17 7 , 7 5 5 , 3 9 5                 18 2 , 1 9 9 , 2 8 0                    186,754,262           191,423,119               196,208,697             201,113,914            206,141,762           211,295,306         Gr o w t h  As s u m p t i o n 0 . 0 0 % 3 . 5 6 % 3 . 9 9 % 2 . 1 9 % 2 . 0 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % 2 . 5 0 % GF  An n u a l  Co n t r i b u t i o n  % 2. 5 2 % 2 . 5 7 % 2 . 8 8 % 4 . 8 2 % 4 . 5 0 % 4 . 2 5 % 4 . 2 5 % 4 . 5 0 % 4 . 5 0 % 4 . 5 0 % 4 . 5 0 % 4 . 5 0 % 4 . 5 0 % 4 . 5 0 % De b t  Se r v i c e  as  % of  GF  Re v e n u e s 0. 4 5 % 5 . 2 3 % 4 . 9 3 % 4 . 8 3 % 4 . 7 4 % 4 . 6 1 % 4 . 5 0 % 4 . 3 9 % 4 . 2 7 % 4 . 1 6 % 4 . 5 1 % 4 . 3 9 % 4 . 2 8 % 4 . 1 7 % FF P  SO U R C E S Be g i n n i n g  FF P  Ba l a n c e ‐                                                        25 , 6 2 5 , 6 4 4                          33 , 1 4 9 , 7 2 5                                25 , 6 3 3 , 1 7 6                            18 , 6 4 7 , 3 5 5                       16 , 4 9 7 , 7 5 0                            29 , 7 6 3 , 7 2 1                       35 , 9 1 7 , 4 1 9                          37,844,414              43,266,363                 62,655,490                20,892,357              11,522,597             9,343,418              So u r c e s An n u a l  GF  Co n t r i b u t i o n s 3, 8 0 0 , 0 0 0                              4, 0 1 6 , 8 1 2                              4, 6 7 6 , 1 4 3                                    8, 0 0 0 , 0 0 0                                7, 6 1 3 , 5 5 6                           7, 3 7 0 , 3 4 6                                7, 5 5 4 , 6 0 4                           8,198,968                              8,403,942                8,614,040                   8,829,391                 9,050,126                9,276,379                9,508,289              Pe r i o d i c  GF  or  On e ‐tim e  Tr a n s f e r s 27 , 5 0 0 , 0 0 0                          1, 0 4 0 , 7 7 3                              10 , 5 4 3 , 5 0 3                                91 7 , 5 8 9                                        Pr i v a t e   Co n t r i b u t i o n s ‐                                                        13 , 5 4 5 , 0 0 0                          2, 6 8 6 , 7 6 8                                    27 , 6 0 5 , 1 1 4                            14 , 5 4 4 , 4 3 4                       13 , 5 9 7 , 1 3 6                            11 , 5 5 1 , 1 9 0                       1,000,000                              4,740,000                28,876,789                 1,000,000                 1,000,000                1,000,000                1,000,000              In t e r e s t  Ea r n i n g s 2 7 5 , 3 8 1                                      34 3 , 7 9 6                                    34 8 , 0 7 2                                            22 3 , 6 2 6                                        23 3 , 0 9 2                                 28 8 , 7 1 1                                        59 5 , 2 7 4                                 718,348                                    756,888                   865,327                       1,253,110                 417,847                    230,452                   186,868                 To t a l  So u r c e s : 3 1 , 5 7 5 , 3 8 1                          18 , 9 4 6 , 3 8 1                          18 , 2 5 4 , 4 8 6                                36 , 7 4 6 , 3 2 9                            22 , 3 9 1 , 0 8 2                       21 , 2 5 6 , 1 9 3                            19 , 7 0 1 , 0 6 9                       9,917,316                              13,900,830              38,356,157                 11,082,501                10,467,973              10,506,831             10,695,157            Us e s De b t  Se r v i c e ( 6 8 2 , 7 5 5 )                                  (8 , 1 6 5 , 3 7 4 )                            (8 , 0 0 8 , 4 2 1 )                                  (8 , 0 1 1 , 4 4 6 )                              (8 , 0 1 1 , 9 2 1 )                         (7 , 9 9 0 , 2 2 1 )                              (7 , 9 9 0 , 2 2 1 )                         (7 , 9 9 0 , 3 2 1 )                            (7,978,881)              (7,967,030)                 (8,845,634)               (8,837,733)              (8,830,613)             (8,818,923)            Ot h e r  Fi s c a l  Ch a r g e s (2 5 , 6 4 5 )                                      Le s s :  Ca s h  Pr o j  Fu n d i n g ( 5 , 2 6 6 , 9 8 2 )                            (3 , 2 3 1 , 2 8 1 )                            (1 7 , 7 6 2 , 6 1 4 )                              (3 5 , 7 2 0 , 7 0 5 )                          (1 6 , 5 2 8 , 7 6 6 )                   ‐                                                          (5 , 5 5 7 , 1 5 0 )                         ‐                                                      (500,000)                 (11,000,000)               (44,000,000)             (11,000,000)            (3,855,398)             (1,846,756)            To t a l  Us e s : ( 5 , 9 4 9 , 7 3 7 )                            (1 1 , 4 2 2 , 3 0 0 )                      (2 5 , 7 7 1 , 0 3 5 )                              (4 3 , 7 3 2 , 1 5 1 )                          (2 4 , 5 4 0 , 6 8 7 )                   (7 , 9 9 0 , 2 2 1 )                              (1 3 , 5 4 7 , 3 7 1 )                   (7 , 9 9 0 , 3 2 1 )                            (8,478,881)              (18,967,030)               (52,845,634)             (19,837,733)            (12,686,011)           (10,665,679)               Pr o j e c t e d  FF P  Ba l a n c e 2 5 , 6 2 5 , 6 4 4                33 , 1 4 9 , 7 2 5                  25 , 6 3 3 , 1 7 6                      18 , 6 4 7 , 3 5 5                 16 , 4 9 7 , 7 5 0              29 , 7 6 3 , 7 2 1                 35 , 9 1 7 , 4 1 9              37 , 8 4 4 , 4 1 4               43,266,363         62,655,490            20,892,357           11,522,597         9,343,418           9,372,896         PR O J E C T  SO U R C E S Be g i n n i n g  Ba l a n c e ( 2 , 0 8 1 , 1 4 7 )                            11 1 , 5 9 5 , 8 4 1                    36 , 4 5 2 , 6 3 9                                94 7 , 0 8 7                                        12 , 2 5 6 , 2 3 6                       13 , 2 4 3 , 4 3 7                            1, 5 6 2 , 6 0 7                           1,717,094                              1,717,094                1,739,074                   2,609,647                 23,182,613              4,654,519                3,920,884              CA S H  FU N D I N G  FR O M  FF P 5 , 2 6 6 , 9 8 2                              3, 2 3 1 , 2 8 1                              17 , 7 6 2 , 6 1 4                                35 , 7 2 0 , 7 0 5                            16 , 5 2 8 , 7 6 6                       ‐                                                          5, 5 5 7 , 1 5 0                           500,000                   11,000,000                 44,000,000                11,000,000              3,855,398                1,846,756              PR I V A T E  CO N T R I B U T I O N S  FO R  SP E C I F I C  PR O J E C T S ‐                                                        ‐                                                      1, 3 6 0 , 3 8 5                                    ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          BE T  FU N D  CO N T R I B U T I O N S  FO R  SP E C I F I C  PR O J E C T S ‐                                                        ‐                                                      50 0 , 0 0 0                                            ‐                                                          DE B T  FU N D I N G 20 1 0  Ci v i c  Ce n t e r  CO P s   12 3 , 0 0 0 , 0 0 0                      ‐                                                       ‐                                                              ‐                                                             ‐                                                        ‐                                                             ‐                                                        ‐                                                         ‐                               ‐                                 ‐                               ‐                                ‐                               ‐                            20 2 1  Po l i c e  Fa c i l i t y  CO P s ‐                                                        ‐                                                       ‐                                                              ‐                                                             ‐                                                        ‐                                                             ‐                                                        ‐                                                         ‐                               ‐                                20,000,000                 ‐                                ‐                               ‐                            Tr a u n c h  3 ‐                                                        ‐                                                       ‐                                                              ‐                                                             ‐                                                        ‐                                                             ‐                                                        ‐                                                         ‐                               ‐                                 ‐                               ‐                                ‐                               ‐                            Tr a u n c h  4 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Tr a u n c h  5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          TO T A L  DE B T  FU N D I N G 1 2 3 , 0 0 0 , 0 0 0                      ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                20,000,000                 ‐                              ‐                             ‐                          In t e r e s t  on  De b t  Pr o c e e d 2 0 9 , 3 1 4                                      39 9 , 7 7 8                                    49 , 7 2 5                                                ‐                                                          TO T A L  PR O J E C T  RE S O U R C E S 1 2 6 , 3 9 5 , 1 4 9            11 5 , 2 2 6 , 9 0 0            56 , 1 2 5 , 3 6 2                      36 , 6 6 7 , 7 9 2                 28 , 7 8 5 , 0 0 2              13 , 2 4 3 , 4 3 7                 7, 1 1 9 , 7 5 7                  1,717,094                   2,217,094           12,739,074            66,609,647           34,182,613         8,509,917           5,767,640         PR O J E C T  US E S F u t u r e  Co s t S t a r t  Da t e 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 Ci v i c  Ce n t e r 14 0 , 0 0 0 , 0 0 0                        20 1 1 ( 1 4 , 0 0 0 , 0 0 0 )                        (7 7 , 0 0 0 , 0 0 0 )                      (4 9 , 0 0 0 , 0 0 0 )                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ci t y  Ha l l  De m o 1 0 0 , 0 0 0                                        20 1 4 ‐                                                        ‐                                                      ‐                                                              (1 0 , 0 0 0 )                                          (5 5 , 0 0 0 )                                   (3 5 , 0 0 0 )                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Po l i c e / R e c  Co m b o  @  Co r p  Yr d ‐                                                          ‐                                     ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Po l i c e  St a t i o n  @  Cu r r e n t  Sit e 74 , 6 5 5 , 2 6 4                            20 2 0 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                             (7,465,526)                 (41,060,395)             (26,129,342)             ‐                             ‐                          FS  1  ‐   Pe n i s u l a 4 , 7 8 0 , 2 0 0                                  20 1 9 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      (478,020)                 (2,629,110)                 (1,673,070)                ‐                              ‐                             ‐                          FS  2  ‐   Li d o 2 , 1 1 1 , 1 8 0                                  20 1 5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          (2 1 1 , 1 1 8 )                               (1 , 1 6 1 , 1 4 9 )                              (7 3 8 , 9 1 3 )                               ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          FS  3  ‐   Sa n t a  Ba r b a r a 5 , 0 2 2 , 1 9 7                                  20 2 1 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                (502,220)                  (2,762,209)              (1,757,769)              ‐                          FS  4  ‐   Ba l b o a  Is l a n d 8 , 8 6 2 , 2 2 3                                  20 4 4 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          FS  5  ‐   CD M 4 , 2 2 5 , 0 0 0                                  20 1 4 ‐                                                        ‐                                                      ‐                                                              (2 3 9 , 4 3 7 )                                    (2 , 5 0 6 , 8 1 3 )                         (1 , 4 7 8 , 7 5 0 )                              ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          FS  6  ‐   Ma r i n e r s 5 , 1 4 7 , 7 5 2                                  20 2 2 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                             (514,775)                 (2,831,264)             (1,801,713)            FS  7  ‐   SA H 1 2 , 2 1 6 , 6 7 2                            20 5 7 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          FS  8  ‐   Np t .  Co a s t 9 , 0 8 3 , 7 7 9                                  20 4 5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Li f e g u a r d  HQ  Re m o d e l 1 , 5 0 0 , 0 0 0                                  20 1 4 ‐                                                        ‐                                                      ‐                                                              (1 3 7 , 1 1 9 )                                    (1 , 3 8 4 , 0 0 0 )                         21 , 1 1 9                                            ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ne w p o r t  Jr .  Gu a r d  Bu i l d i n g 34 7 , 9 0 8                                        20 2 0 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                             (34,791)                       (191,349)                  (121,768)                  ‐                             ‐                          Li b r a r y ‐Ce n t r a l  Cle r e s t o r y  & Re p a i r s 1, 4 0 5 , 3 0 5                                  20 1 1 ( 1 4 0 , 5 3 1 )                                  (7 7 2 , 9 1 8 )                                  (4 9 1 , 8 5 7 )                                        ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Li b r a r y ‐Ba l b o a ‐                                                          20 6 2 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Li b r a r y ‐CD M ‐                                                          20 6 2 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Li b r a r y ‐Ma r i n e r s 1 9 , 3 1 0 , 7 1 4                            20 5 6 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Li b r a r y ‐Ce n t r a l 6 6 , 4 4 7 , 7 4 3                            20 5 2 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ma r i n a  Pa r k  Gi r l  Sc o u t  Ho u s e ‐                                                          20 1 4 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ma r i n a  Pa r k   30 , 0 0 0 , 0 0 0                            20 1 4 ( 3 4 7 , 1 5 6 )                                  (6 8 7 , 5 8 6 )                                  (1 , 1 9 0 , 0 0 0 )                                  (1 5 , 2 7 5 , 0 0 0 )                          (9 , 6 2 3 , 6 9 9 )                         (1 , 6 9 8 , 3 0 0 )                              ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ne w p o r t  Co a s t  Ct r 2 8 , 8 7 1 , 2 4 1                            20 5 7 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ne w p o r t  Th e a r t e r  Ar t s  Ce n t e r 7, 2 9 7 , 6 0 6                                  20 5 0 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          OA S I S  Sr .  Ct r 4 8 , 5 0 4 , 8 1 6                            20 6 0 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Su n s e t  Ri d g e 1 1 , 0 0 0 , 0 0 0                            20 1 4 ( 3 1 1 , 6 2 2 )                                  (3 1 3 , 7 5 7 )                                  (2 9 3 , 2 9 8 )                                        (8 , 7 5 0 , 0 0 0 )                              (4 2 8 , 4 3 5 )                               ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          We s t  Ne w p o r t  Co m m  Ct r 10 , 2 5 0 , 0 0 0                            20 1 5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          (1 , 0 2 5 , 0 0 0 )                         (5 , 6 3 7 , 5 0 0 )                              (3 , 5 8 7 , 5 0 0 )                         ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Bo n i t a  Cr e e k  ‐   Ar t i f i c i a l  Tu r f 2, 0 5 0 , 0 0 0                                  20 1 5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          (2 0 5 , 0 0 0 )                               (1 , 1 2 7 , 5 0 0 )                              (7 1 7 , 5 0 0 )                               ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          We s t  Ne w p o r t  La n d  Pu r c h a s e 4 , 2 0 3 , 1 2 1                                  20 1 3 ‐                                                        ‐                                                      (4 , 2 0 3 , 1 2 1 )                                  ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Ut i l i t i e s / C o r p o r a t e  Ya r d  Me r g e ‐                                                          20 1 5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          ‐                                                   ‐                                                          ‐                                                   ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          Bi g  Ca n y o n  Au x .  Ya r d 1 , 0 2 5 , 0 0 0                                  20 1 5 ‐                                                        ‐                                                      ‐                                                              ‐                                                          (1 0 2 , 5 0 0 )                               (5 6 3 , 7 5 0 )                                    (3 5 8 , 7 5 0 )                               ‐                                                      ‐                              ‐                                 ‐                              ‐                              ‐                             ‐                          TO T A L  PR O J E C T  EX P E N D I T U R E S 4 9 8 , 4 1 7 , 7 2 0                        (1 4 , 7 9 9 , 3 0 9 )                      (7 8 , 7 7 4 , 2 6 1 )                      (5 5 , 1 7 8 , 2 7 6 )                            (2 4 , 4 1 1 , 5 5 6 )                        (1 5 , 5 4 1 , 5 6 5 )                    (1 1 , 6 8 0 , 8 3 0 )                        (5 , 4 0 2 , 6 6 3 )                        ‐                                                      (478,020)                 (10,129,427)              (43,427,034)             (29,528,094)           (4,589,033)             (1,801,713)           EN D I N G  BA L A N C E  OF  PR O J E C T  RE S O U R C E S 1 1 1 , 5 9 5 , 8 4 1            36 , 4 5 2 , 6 3 9                  94 7 , 0 8 7                                  12 , 2 5 6 , 2 3 6                 13 , 2 4 3 , 4 3 7              1, 5 6 2 , 6 0 7                     1, 7 1 7 , 0 9 4                  1,717,094                   1,739,074           2,609,647              23,182,613           4,654,519           3,920,884           3,965,927         So u r c e s  an d  Us e s  Pr o f o r m a        DE B T  SE R V I C E   Avg 1 2 3 4 5 6 7 8 9 1 0 De b t 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 Pr o j e c t   To t a l I n t e r e s t   Se r v i c e De b t  Se r v i c e  De s c r i p t i o n Y e a r P r o c e e d s C O I I s s u e R a t e T e r m M a t u r i t y (N e t ) 20 1 0  Ci v i c  Ce n t e r  CO P s   20 1 1 1 2 3 , 0 0 0 , 0 0 0            1, 2 8 9 , 4 4 2          12 4 , 2 8 9 , 4 4 2            4. 4 % 3 0 2 0 4 1 ( 7 , 5 9 8 , 4 5 0 )                  (8 , 0 0 8 , 4 2 1 )        (8 , 0 1 1 , 4 4 6 )        (8 , 0 1 1 , 9 2 1 )          (7 , 9 9 0 , 2 2 1 )          (7,990,221)    (7,990,321)       (7,978,881)       (7,967,030)    (7,519,886)     (7,511,985)     20 2 1  Po l i c e  Fa c i l i t y  CO P s 2 0 2 1 2 0 , 0 0 0 , 0 0 0                38 0 , 0 0 0                  20 , 3 8 0 , 0 0 0                5. 0 % 3 0 2 0 5 1 ( 1 , 3 2 5 , 7 4 8 )                  ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                   (1,325,748)     (1,325,748)     Tr a u n c h  3 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  4 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  5 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  6 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  7 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  8 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  9 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  10 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    Tr a u n c h  11 0 0 0 0 5 . 0 % 3 0 3 0 ‐                                            ‐                                  ‐                                  ‐                                    ‐                                    ‐                     ‐                      ‐                     ‐                    ‐                    ‐                    TO T A L  DE B T (8 , 9 2 4 , 1 9 8 )                  (8 , 0 0 8 , 4 2 1 )        (8 , 0 1 1 , 4 4 6 )        (8 , 0 1 1 , 9 2 1 )          (7 , 9 9 0 , 2 2 1 )          (7,990,221)    (7,990,321)       (7,978,881)       (7,967,030)    (8,845,634)     (8,837,733)     DE V E L O P M E N T  AG R E E M E N T S  AN D  PR I V A T E  CO N T R I B U T I O N S Ge n e r a l T O T A L N o n  FFP F F P Pu b l i c P a r k P u b l i c  Ar t s F F P T r a f f i c E T A Ag r e e m e n t R E F D e s c r i p t i o n T r i g g e r B e n e f i t B e n e f i t &  Cu l t u r e B E N E F I T C i r c u l a t i o n T o t a l F Y Ho a g  OA S I S  Pl e d g e Ma y    12 ,  20 0 9  Pl e d g e  Le t t e r P a y m e n t  Sc h e d u l e 5 0 0 , 0 0 0                                      ‐                                                      ‐                                                  500,000                                    ‐                        500,000                   2009 500,000                   OK Ho a g  OA S I S  Pl e d g e Ma y    12 ,  20 0 9  Pl e d g e  Le t t e r P a y m e n t  Sc h e d u l e 5 0 0 , 0 0 0                                      ‐                                                      ‐                                                  500,000                                    ‐                        500,000                   2010 500,000                   OK Ho a g  OA S I S  Pl e d g e Ma y    12 ,  20 0 9  Pl e d g e  Le t t e r P a y m e n t  Sc h e d u l e 1 , 5 0 0 , 0 0 0                                ‐                                                      ‐                                                  1,500,000                              ‐                        1,500,000                2010 1,500,000                OK 2, 5 0 0 , 0 0 0                                ‐                                                      ‐                                                  2,500,000                              ‐                        2,500,000                 Fr i e n d s  of  Oa s i s  Ple d g e Oa s i s  Co n s t r u c t i o n R e s t r i c t e d  fo r  Oa s i s  On l y 2 , 0 0 0 , 0 0 0                                ‐                                                      ‐                                                  2,000,000                              ‐                        2,000,000                9,10,11 2,000,000                OK No r t h  Ne w p o r t  Ce n t e r 4. 1 I n  Lie u  Pa r k  Fe e s P a i d    wit h i n  5  Da y s  of  Aw a r d  of  OA S I S  Co n t r a c t ‐                                                        5, 6 0 0 , 0 0 0                                5,600,000                              5,600,000                2009 5,600,000                OK No r t h  Ne w p o r t  Ce n t e r 4. 1 I n  Lie u  Pa r k  Fe e s  43 0  $$ 2 6 , 0 4 6 . 5 1 M i l e s t o n e  Pm t s ‐                                                        5, 6 0 0 , 0 0 0                                5,600,000                              5,600,000                14 5,600,000                OK No r t h  Ne w p o r t  Ce n t e r  T2 4. 1 9 4  Un i t s  x  $2 6 , 0 4 6 . 5 1 M i l e s t o n e  Pm t s 2, 4 4 8 , 3 7 1                               2,448,371                              14 2,448,371                OK No r t h  Ne w p o r t  Ce n t e r 4. 2 P u b l i c  Be n e f i t  Fe e  ‐   43 0  Un i t s  @  $3 1 , 5 0 0 I s s u a n c e  of  Fi r s t  Bu i l d i n g  Pe r m i t 1 3 , 5 4 5 , 0 0 0                            ‐                                                     13,545,000                          13,545,000             2012 13,545,000              OK No r t h  Ne w p o r t  Ce n t e r 4. 2 P u b l i c  Be n e f i t  Fe e  ‐   43 0  Un i t s  @  $3 1 , 5 0 0  Is s u a n c e  of  re m a i n i n g  43 0  Re s i d e n t i a l  Bu i l d i n g  Pe r m i t s 1 3 , 5 4 5 , 0 0 0                            ‐                                                      (2 7 0 , 9 0 0 )                              13,274,100                          13,274,100             14 13,274,100              OK No r t h  Ne w p o r t  Ce n t e r  T2 Am e n d e d  Ag r m t P u b l i c  Be n e f i t  Fe e  ‐   94  Un i t s  @  $6 3 , 0 0 0 I s s u a n c e  of  43 1  st  pe r m i t  ‐   52 4  th  pe r m i t 5 , 9 2 2 , 0 0 0                                (1 1 8 , 4 4 0 )                              5,803,560                              5,803,560                14 5,803,560                OK No r t h  Ne w p o r t  Ce n t e r 4. 4  St r e e t  Wi d e n i n g  an d  Tr a f f i c  Si g n a l s W i t h i n  30  Da y s  of  Re i m b u r s e m e n t  Re q u e s t ‐                                                        ‐                                                      2,500,000            2,500,000                NA ‐                           OK No r t h Ne w p o r t Ce n t e r Am e n d e d Ag r m t Ba y s i d e Dr i v e Wa l k w a y Co n n e c t i o n Wi t h i n 90 Da y s of wr i t t e n no t i c e af t e r aw a r d of co n t r a c t 20 0 0 0 0 200 0 0 0 200 0 0 0 200,000 OKCHECK CELLS No r t h  Ne w p o r t  Ce n t e r Am e n d e d  Ag r m t Ba y s i d e  Dr i v e  Wa l k w a y  Co n n e c t i o n Wi t h i n  90  Da y s  of  wr i t t e n  no t i c e  af t e r  aw a r d  of  co n t r a c t 20 0 ,00 0                                 200 ,000                               200 ,000                   200,000                 OK 37 1 5 0 . 7 6 3 3 6 33 , 2 1 2 , 0 0 0                            13 , 6 4 8 , 3 7 1                            (3 8 9 , 3 4 0 )                              46,471,031                          2,500,000            48,971,031              Th e  Da r t  De v e l o p m e n t  (2 4  un i t s ) ( P A 2 0 1 2 ‐14 6 )   ‐                                                        62 7 , 0 0 0                                     627,000                                    627,000                   600,875                   FIX Ne w p o r t  Ba y  Ma r i n a  Pr o j e c t  (2 7  un i t s )  (P A 2 0 0 1 ‐21 0 ) ‐                                                        18 6 , 1 4 7                                     186,147                                    186,147                   186,147                   OK Vi a  Li d o  Mi x e d  Us e ( 2  un i t s )  (P A 2 0 1 0 ‐08 1 ) ‐                                                        52 , 2 5 0                                         52,250                                          52,250                     52,250                     OK Pl a z a  CD M  (6  Un i t s )  (P A 2 0 1 0 ‐06 1 )          ‐                                                        15 6 , 7 5 0                                     156,750                                    156,750                   156,750                   OK 21 4  Na r c i s s u s  (1  Un i t s )  (P A 2 0 1 1 ‐19 2 ) ‐                                                        26 , 1 2 5                                         26,125                                          26,125                     26,125                     OK 60 4  Ac a c i a  Av e  (P A 2 0 1 2 ‐00 5 )   ‐                                                        26 , 1 2 5                                         26,125                                          26,125                     26,125                     OK ‐                                                        1, 0 7 4 , 3 9 7                                ‐                                                  1,074,397                              ‐                        1,074,397                Ho a g  DA  # 5 8. 2 S e m e n i u k  Sl o u g h  St u d y $ 2 0 0 K  Fe e  El i m i n a t e d  wi t h  wit h  DA  am e n d m e n t  in  20 0 8 ‐                                                        ‐                                                      ‐                                                  ‐                                                      ‐                         ‐                           NA ‐                           OK Ho a g  DA  # 5 8. 2 R e i m b  Ci t y  CIP  re l a t e d  to  Su p e r i o r  Av e  Me d i a n s , N e w p o r t  Bl v d   Co m p l e t i o n  of  Pr o j e c t  Ex p e n d i t u r e s ‐                                                        ‐                                                      ‐                                                  ‐                                                      1,500,000            1,500,000                NA ‐                           OK Ho a g  DA  # 5 8. 2 P u b l i c  Be n e f i t  (P a r k  or  Pu b  Sa f e t y ) P a i d  Ju n e  20 0 9  Xf r e d  to  Fa c i l i t i e s  Re s e r v e 1 , 5 0 0 , 0 0 0                                ‐                                                      ‐                                                  1,500,000                              ‐                        1,500,000                2009 1,500,000                OK Ho a g  DA  # 5 8. 4 S u n s e t  Vi e w  Pa r k ,  Sh r u b  & Gr o u n d c o v e r P e n d i n g  Im p r o v e m e n t s ‐                                                        15 0 , 0 0 0                                     ‐                                                  150,000                                    ‐                        150,000                   2015 150,000                   OK 1, 5 0 0 , 0 0 0                                15 0 , 0 0 0                                      ‐                                                  1,650,000                              1,500,000            3,150,000                Sa n t a  Ba r b a r a  Co n d o s ‐                                                  ‐                                                      ‐                         ‐                            Sa n t a  Ba r b a r a  Co n d o s S ec t i o n  3.3  of  MO A Un r e s t r i c t e d  Pu b l i c  Be n e f i t C o n c u r r e n t  wit h  Ce r t i f i c a t e  of  Oc c u p an c y   1 ,64 5 ,56 6                           ‐                                                  (32 ,91 1 )                             1 ,612 ,655                         ‐                       1 ,612 ,655                2015 1 ,612 ,655              OK py ,, (, ) ,,,,,, Sa n t a  Ba r b a r a  Co n d o s S ec t i o n  3.3  of  MO A Un r e s t r i c t e d  Pu b l i c  Be n e f i t C o n c u r r e n t  wit h  Ce r t i f i c a t e  of  Oc c u p a n c y   3, 3 5 4 , 4 3 4                                ‐                                                     (6 7 , 0 8 9 )                                  3,287,345                              ‐                        3,287,345                2016 3,287,345                OK Sa n t a  Ba r b a r a  Co n d o s S ec t i o n  3.2  of  MO A 79  Un i t s  x  $2 6 , 1 2 5 F e e  du e  at  bu i l d i n g  pe r m i t  is s u e 2 , 0 5 7 , 6 7 4                               ‐                                                  2,057,674                              ‐                        2,057,674                2014 2,063,875                FIX 5, 0 0 0 , 0 0 0                                2, 0 5 7 , 6 7 4                                (1 0 0 , 0 0 0 )                              6,957,674                              ‐                       6,957,674                Ba n n i n g  Ra n c h Se c t i o n  3. 1 1 3 7 5  x  30 , 9 0 9  ‐   Co a s t a l  Co m m i s s i o n  St a t u s ? E a c h  Bu i l d i n g  Pe r m i t 42 , 4 9 9 , 8 7 5                            ‐                                                     ‐                                                  42,499,875                          ‐                        42,499,875             ‐                           UNKNOWN Ne w p o r t  Up t o w n $3 2 , 5 0 0 / U n i t  ‐   1, 2 4 4  Un i t s ‐                                                     ‐                                                  ‐                                                      ‐                         ‐                            Ph a s e  I    ‐   68 0  Un i t s 22 , 1 0 0 , 0 0 0                            (4 4 2 , 0 0 0 )                              21,658,000                          966,665               22,624,665             2015 ‐2017 21,658,000              OK Ph a s e  II  ‐   54 4  Un i t s 17 , 6 8 0 , 0 0 0                            (3 5 3 , 6 0 0 )                              17,326,400                          631,456               17,957,856             2020 17,326,400              OK In  Lie u  Pa r k  Fe e s  ‐   Ph a s e  I R e c o r d a t i o n  of  Ma p  Le s s  Pa r k  Cr e d i t s ‐                                                        10 , 1 4 3 , 3 6 1                            10,143,361                          10,143,361             2015 ‐2017 10,143,361              OK In  Lie u  Pa r k  Fe e s  ‐   Ph a s e  II R e c o r d a t i o n  of  Ma p  Le s s  Pa r k  Cr e d i t s ‐                                                        10 , 5 5 0 , 3 8 9                            10,550,389                          10,550,389             2020 10,550,389              OK 39 , 7 8 0 , 0 0 0                            20 , 6 9 3 , 7 5 0                            (7 9 5 , 6 0 0 )                              59,678,150                          1,598,121            61,276,271              NB  Co u n t r y  Cl u b 3. 1 5 4 , 8 0 0  x  10 . 0 0  Go l f  Cl u b  Cl u b h o u s e I s s u a n c e  of  Fi r s t  Bu i l d i n g  Pe r m i t s 5 4 , 8 0 0                                          ‐                                                     (1 , 0 9 6 )                                        53,704                                          ‐                        53,704                     2014 53,704                     OK Du n e s    Se t t l e m e n t Se c t i o n  C( e ) R e s t a u r a n t  on  Pa r c e l  B2 I s s u a n c e  of  Bu i l d i n g  Pe r m i t 5 0 , 0 0 0                                          ‐                                                      (1 , 0 0 0 )                                        49,000                                          ‐                        49,000                     2017 49,000                     OK Du n e s    Se t t l e m e n t Se c t i o n  C( f ) F a m i l y  In n I s s u a n c e  of  Bu i l d i n g  Pe r m i t 1 0 0 , 0 0 0                                      ‐                                                      (2 , 0 0 0 )                                        98,000                                          ‐                        98,000                     2017 98,000                     OK Du n e s    Se t t l e m e n t Se c t i o n  C( g ) F a m i l y  In n P r i o r  to  Oc c u p a n c y 4 1 0 , 4 0 2                                      ‐                                                     (8 , 2 0 8 )                                        402,194                                    ‐                        402,194                   2017 402,194                   OK 56 0 , 4 0 2                                      ‐                                                      (1 1 , 2 0 8 )                                  549,194                                    ‐                        549,194                    Go l f  Re a l i t y  Fu n d  (G R F ) 3. 1 T e n n i s  Cl u b  Re c o n s t r u c t i o n  3, 7 2 5  x  $1 0 . 0 0 I s s u a n c e  of  Bu i l d i n g  Pe r m i t 3 7 , 2 5 0                                          (7 4 5 )                                              36,505                                          ‐                        36,505                     2017 36,505                     OK Go l f  Re a l i t y  Fu n d  (G R F ) 3. 1 S i n g l e  Fa m i l y  Ho m e s  $5  x  $9 3 , 0 0 0 S i n g l e  Fa m i l y  Ho m e s 4 6 5 , 0 0 0                                      (9 , 3 0 0 )                                        455,700                                    ‐                        455,700                   2017 455,700                   OK 50 2 , 2 5 0                                      ‐                                                      (1 0 , 0 4 5 )                                  492,205                                    ‐                        492,205                    La n d  Re  Us e  De c i s i o n s Ci t y  Ha l l  Re U s e C o n c o r d   Es t i m a t e d  An n u a l  Le a s e  Re v e n u e s A p a r t m e n t s  or  Ho t e l   1, 0 0 0 , 0 0 0                                1,000,000                              ‐                        1,000,000                Annual A n n u a l Po l i c e  Fa c i l i t y C o n c o r d   Es t i m a t e d  An n u a l  Le a s e  Re v e n u e s U p o n  Oc c u p a n c y 1 , 7 0 6 , 0 0 0                                1,706,000                              ‐                        1,706,000                ‐                           UNKNOWN We s t  Ne w p o r t  Co m m  Ce n t e r  Sa l e C o n c o r d   Sa l e  of  Pr o p e r t y U p o n  Sa l e 3 , 5 4 0 , 0 0 0                                3,540,000                              ‐                        3,540,000                2019?3,540,000                OK 6, 2 4 6 , 0 0 0                                ‐                                                      ‐                                                  6,246,000                              ‐                        6,246,000                 13 3 , 8 5 5 , 3 2 7                        37 , 6 2 4 , 1 9 2                            (1 , 3 0 7 , 2 8 9 )                        170,172,230                      5,598,121            175,770,351           GRAND  TOTAL 169,746,431                DE V E L O P M E N T  AG R E E M E N T S  AN D  PR I V A T E  CO N T R I B U T I O N S Ag r e e m e n t R E F D e s c r i p t i o n Ho a g  OA S I S  Pl e d g e Ma y    12 ,  20 0 9  Pl e d g e  Le t t e r Ho a g  OA S I S  Pl e d g e Ma y    12 ,  20 0 9  Pl e d g e  Le t t e r Ho a g  OA S I S  Pl e d g e Ma y    12 ,  20 0 9  Pl e d g e  Le t t e r Fr i e n d s  of  Oa s i s  Ple d g e Oa s i s  Co n s t r u c t i o n No r t h  Ne w p o r t  Ce n t e r 4. 1 I n  Lie u  Pa r k  Fe e s No r t h  Ne w p o r t  Ce n t e r 4. 1 I n  Lie u  Pa r k  Fe e s  43 0  $$ 2 6 , 0 4 6 . 5 1 No r t h  Ne w p o r t  Ce n t e r  T2 4. 1 9 4  Un i t s  x  $2 6 , 0 4 6 . 5 1 No r t h  Ne w p o r t  Ce n t e r 4. 2 P u b l i c  Be n e f i t  Fe e  ‐   43 0  Un i t s  @  $3 1 , 5 0 0 No r t h  Ne w p o r t  Ce n t e r 4. 2 P u b l i c  Be n e f i t  Fe e  ‐   43 0  Un i t s  @  $3 1 , 5 0 0 No r t h  Ne w p o r t  Ce n t e r  T2 Am e n d e d  Ag r m t P u b l i c  Be n e f i t  Fe e  ‐   94  Un i t s  @  $6 3 , 0 0 0 No r t h  Ne w p o r t  Ce n t e r 4. 4  St r e e t  Wi d e n i n g  an d  Tr a f f i c  Si g n a l s No r t h Ne w p o r t Ce n t e r Am e n d e d Ag r m t Ba y s i d e Dr i v e Wa l k w a y Co n n e c t i o n 1 2 3 4 5 6 7 8 9 1 0 1 1 1 2 1 3 1 4 1 5 1 6 20 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 1, 5 0 0 , 0 0 0            50 0 , 0 0 0                  5, 6 0 0 , 0 0 0              2, 4 4 8 , 3 7 1                              ‐                                                  ‐                              13 , 5 4 5 , 0 0 0         13 , 2 7 4 , 1 0 0          5, 8 0 3 , 5 6 0              200 0 0 0 No r t h  Ne w p o r t  Ce n t e r Am e n d e d  Ag r m t Ba y s i d e  Dr i v e  Wa l k w a y  Co n n e c t i o n 37 1 5 0 . 7 6 3 3 6 Th e  Da r t  De v e l o p m e n t  (2 4  un i t s ) ( P A 2 0 1 2 ‐14 6 )   Ne w p o r t  Ba y  Ma r i n a  Pr o j e c t  (2 7  un i t s )  (P A 2 0 0 1 ‐21 0 ) Vi a  Li d o  Mi x e d  Us e ( 2  un i t s )  (P A 2 0 1 0 ‐08 1 ) Pl a z a  CD M  (6  Un i t s )  (P A 2 0 1 0 ‐06 1 )          21 4  Na r c i s s u s  (1  Un i t s )  (P A 2 0 1 1 ‐19 2 ) 60 4  Ac a c i a  Av e  (P A 2 0 1 2 ‐00 5 )   Ho a g  DA  # 5 8. 2 S e m e n i u k  Sl o u g h  St u d y Ho a g  DA  # 5 8. 2 R e i m b  Ci t y  CIP  re l a t e d  to  Su p e r i o r  Av e  Me d i a n s , N e w p o r t  Bl v d   Ho a g  DA  # 5 8. 2 P u b l i c  Be n e f i t  (P a r k  or  Pu b  Sa f e t y ) Ho a g  DA  # 5 8. 4 S u n s e t  Vi e w  Pa r k ,  Sh r u b  & Gr o u n d c o v e r Sa n t a  Ba r b a r a  Co n d o s Sa n t a  Ba r b a r a  Co n d o s S ec t i o n  3.3  of  MO A Un r e s t r i c t e d  Pu b l i c  Be n e f i t 200 ,000                   60 0 , 8 7 5                    18 6 , 1 4 7                                   52 , 2 5 0                          15 6 , 7 5 0                    26 , 1 2 5                                       26 , 1 2 5                                       15 0 , 0 0 0                                    1 ,61 2 ,65 5                         Sa n t a  Ba r b a r a  Co n d o s S ec t i o n  3.3  of  MO A Un r e s t r i c t e d  Pu b l i c  Be n e f i t Sa n t a  Ba r b a r a  Co n d o s S ec t i o n  3.2  of  MO A 79  Un i t s  x  $2 6 , 1 2 5 Ba n n i n g  Ra n c h Se c t i o n  3. 1 1 3 7 5  x  30 , 9 0 9  ‐   Co a s t a l  Co m m i s s i o n  St a t u s ? Ne w p o r t  Up t o w n $3 2 , 5 0 0 / U n i t  ‐   1, 2 4 4  Un i t s Ph a s e  I    ‐   68 0  Un i t s Ph a s e  II  ‐   54 4  Un i t s In  Lie u  Pa r k  Fe e s  ‐   Ph a s e  I In  Lie u  Pa r k  Fe e s  ‐   Ph a s e  II NB  Co u n t r y  Cl u b 3. 1 5 4 , 8 0 0  x  10 . 0 0  Go l f  Cl u b  Cl u b h o u s e Du n e s    Se t t l e m e n t Se c t i o n  C( e ) R e s t a u r a n t  on  Pa r c e l  B2 Du n e s    Se t t l e m e n t Se c t i o n  C( f ) F a m i l y  In n ,, 3,2 8 7 , 3 4 5             2, 0 6 3 , 8 7 5              8, 9 1 8 , 0 0 0                              6,3 7 0 , 0 0 0             6, 3 7 0 , 0 0 0                          17,326,400     3, 8 6 3 , 7 7 9                              3,1 3 9 , 7 9 1             3, 1 3 9 , 7 9 1                          10,550,389     53 , 7 0 4                          49 , 0 0 0                                      98 , 0 0 0                                      Du n e s    Se t t l e m e n t Se c t i o n  C( g ) F a m i l y  In n Go l f  Re a l i t y  Fu n d  (G R F ) 3. 1 T e n n i s  Cl u b  Re c o n s t r u c t i o n  3, 7 2 5  x  $1 0 . 0 0 Go l f  Re a l i t y  Fu n d  (G R F ) 3. 1 S i n g l e  Fa m i l y  Ho m e s  $5  x  $9 3 , 0 0 0 La n d  Re  Us e  De c i s i o n s Ci t y  Ha l l  Re U s e C o n c o r d   Es t i m a t e d  An n u a l  Le a s e  Re v e n u e s Po l i c e  Fa c i l i t y C o n c o r d   Es t i m a t e d  An n u a l  Le a s e  Re v e n u e s We s t  Ne w p o r t  Co m m  Ce n t e r  Sa l e C o n c o r d   Sa l e  of  Pr o p e r t y 40 2 , 1 9 4                                  36 , 5 0 5                                      45 5 , 7 0 0                                  80 0 , 0 0 0                   1, 0 0 0 , 0 0 0                          1,0 0 0 , 0 0 0              1,000,000                 1,000,000      1,000,000      1,000,000      1,000,000      1,000,000      1,000,000      1,000,000      3,540,000                  2, 0 0 0 , 0 0 0           13 , 5 4 5 , 0 0 0          2, 6 8 6 , 7 6 8                              27 , 6 0 5 , 1 1 4          14 , 5 4 4 , 4 3 4                          13 , 5 9 7 , 1 3 6          11 , 5 5 1 , 1 9 0                      1,0 0 0 , 0 0 0              4,740,000                 28,876,789    1,000,000      1,000,000      1,000,000      1,000,000      1,000,000      1,000,000