Page 1 of 3
Bartha, Stephen
From:    Teall, Margie
Sent:     Thursday, April 16, 2009 4:29 PM
To:       Schopieray, Christine
Subject: FW: S. Fifth Avene Parking Structure
From: Susan Pollay [mailto:SPollay@a2dda.org] Sent: Thursday, October 02, 2008 5:17 PM
To: Bonnie Bona (bsbona@aol.com); jsantihall@gmail.com; John Mouat; John Splitt; gunnl@ewashtenaw.org; Leigh Greden; Lowenstein, Joan; Teall, Margie; Rene Greff; Roger Hewitt; Sandi Smith Subject: FW: S. Fifth Avene Parking Structure
Hi all (especially John). I shared your ideas with Mike Ortiieb for the parking structure, and I'm impressed that they are on the same page with us regarding environmentally friendly construction ideas......
From: Michael C. Ortiieb [mailto:MOrtlieb@carlwalker.com] Sent: Wednesday, October 01, 2008 5:17 PM To: Susan Pollay
Cc: ai@wengco.com; Gary A. Cole
Subject: RE: S. Fifth Avene Parking Structure
Susan - As we move from the planning process into design, I would like to schedule a series of meetings with you, Joe, Adrian, and Republic to work out programming issues for the parking structure. I also like the idea of having at least one or two meeting with others (i.e. John Mouat) to discuss enhancements and sustainable design features that we can incorporate to improve the project. Regarding the specific ideas mentioned below:
a. Excavation Materials -1 have not yet considered what we do with the excavation material. It appears that most of the material will be clean fill (sand) and I like the idea of using it close by to save cost and resources.
b. Cement - We will look to reduce the cement content in the concrete, while maintaining concrete strength and durability. We will do this by substituting a certain amount of cement with products such as fly ash, slag, and silica fume. These materials are waste products from industry, and can also enhance the quality of the concrete.
c. Energy Consumption - We anticipate using methods/products that will reduce energy use...LED lights, low-energy exhaust fans (with CO monitors to turn on and off), light dimming (with consideration for safety), etc. I would like to learn more about generating electricity from other sources....the kinetic energy concept and elevator braking is interesting. I know that my wife's Prius generates electricity during braking.
d. Future Vehicle Types - With long-span construction we will be able to adjust space width as car sizes decrease over time. We can also add plug in locations for electric cars. We will need to research this a bit more.
e. Storm Water - With our planning submission, we are planning to store, then gradually discharge, the volume of storm water required by Washtenaw County/City (approximately 21,000 cf). We have discussed reuse of the water, and we will continue to discuss ideas for collection, storage, discharge, and reuse.
4/16/2009
Page 2 of 3
Mike
Michael C. Ortiieb, P.E.
Executive Vice-President mortlieb@carlwalker.com
Carl Walker, Inc.
5136 Lovers Lane, Suite 200, Kalamazoo, Michigan 49002 P 269.381.2222   F 269.349.0782 www.carlwalker.com
Celebrating Our 25th Year — 1983-2008
From: Susan Pollay [mailto:SPollay@a2dda.org] Sent: Monday, September 29, 2008 5:59 PM To: Michael C. Ortiieb Cc: ai@wengco.com
Subject: FW: S. Fifth Avene Parking Structure
Hi Mike. One of our DDA Board members asked that we share with the design team his ideas for ways to make the parking structure more environmentally and operationally attractive. There are some interesting ideas in here - let us know what you think. Best wishes. Talk to you soon. Susan
From: John Mouat [mailto:JMouat@mitchellandmouat.com] Sent: Monday, September 29, 2008 5:45 PM To: Susan Pollay
Cc: Bonnie Bona (bsbona@aol.com); Daveydina2@comcast.net; jsantihall@gmail.com; John Mouat; John Splitt; gunnl@ewashtenaw.org; Leigh Greden; Lowenstein, Joan; mteall@a2gov.org; Rene Greff; Roger Hewitt; Sandi Smith; Hieftje, John
Subject: S. Fifth Avene Parking Structure Hi Susan,
Now that we have moved the resolution regarding the structure to City Council and are thinking about DDA priorities and new opportunities for the next year I want to make sure that we follow through and do not loose sight of our priorities in the design of the structure. I am optimistic that it will be supported by Council and the community so I am thinking about next steps.
In particular I am interested in what sustainable concepts can be integrated into the design. I realize for many people this stuff is pretty dry and nurdy but I think it is important so that we harnass as many good ideas as possible within our budget. Here are a few examples;
a. What might be done with the huge amount of excavated material that will come out of there when they dig that massive hole? As an example can it be used close by to do something like level areas of the city owned north main site rather than having hundreds of truck loads lumbering some distance away?
b. Any new options on materials (primarily concrete options)? Cement that is used to make concrete is a pretty energy and environmentally intensive material to produce so there may be options that reduce the cement content.
c. Any concepts to reduce the carbon footprint of the structure while reducing ongoing operations costs? I am fascinated by the possibility that there may be a way to capture the kinetic action of the vehicles moving around in the structure to generate electricity that could power lights and ventilation. Another example is elevators that incorporate regenerative braking (like a car) to reduce electric load.   It would be very cool if the structure could be off the grid.
d. Adaptability for future vehicle types (micro cars, electric, etc.).
e. How is storm water going to be stored and discharged?
Other important community aspects of the structure of course include opportunities for incorporating public art, good signage, enhancing security, etc. How about we have a sound system to broadcast music, community
4/16/2009
Page 3 of 3
events, weather reports, DDA updates, etc.? Susan - this could be your big chance to be a star! All those captive patrons. It could be known as the singing structure! Ok, Ok that may be a bit over the top but in all seriousness this is our chance to make this public investment really special.
We talked about this a little bit at the Partnerships meeting last week understanding that the project will now largely be carried out by staff and the Design Team but I think that we want to make sure that the dials are set as we move forward. I am ccing folks that were on your email list from 8/18 (Capital Improvements and Partnerships) plus John H. since people may want to think about how, who, and when we interact with the Design/Staff Team from here on out.
take care, John
113 S. Fourth Ave.
Ann Arbor, Michigan 48104
(734) 662-6070 Fx (734) 662-3802
4/16/2009
Page 1 of 1
Bartha, Stephen
To:
Subject:
Sent:
From:
Teall, Margie
Thursday, April 16, 2009 4:29 PM
Schopieray, Christine
FW: Library Lot Parking Deck Memo
Attachments: Treasury MEMO - DDA 5th Ave Bonds .pdf
From: Fraser, Roger
Sent: Wednesday, January 07, 2009 9:43 AM
To: Greden, Leigh; Hieftje, John; Higgins, Marcia; Rapundalo, Stephen; Teall, Margie Cc: Crawford, Tom
Subject: FW: Library Lot Parking Deck Memo This is the request that was sent to DDA.
Roger
734-794-6110 rfraser@a2gov.org
4/16/2009
Page 1 of 1
Horning, Matthew
To:
Subject:
Sent:
From:
Crawford, Tom
Tuesday, February 10, 2009 7:38 AM Horning, Matthew FW: Underground Deck
Attachments: Library Lot Parking Bond v7.pdf This is the one that's prime directions unless Joe needs to increase amount for bond user fee, which I think he will.
From: Paul Stauder [mailto:paul@stauderbarch.com]
Sent: Wednesday, February 04, 2009 2:24 PM
To: Morehouse, Joseph
Cc: Crawford, Tom; Horning, Matthew
Subject: Underground Deck
Attached per your request is the bond repayment scenario with a $6 million reduction on the parking deck expenditure.
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates 3989 Research Park Drive Ann Arbor, Michigan 48108 Phone 734-668-6688
ceii mtKmmmtaf
Fax 734-668-6723
Email paul@stauderbarch.com
Joe,
4/2/2009
$44,640,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$35,802,600
Parking Meter Replacements	2,000,000
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$52,332,500
Legal, Financial, Advertising, Etc.	101,495
Bond Discount                     1.50%	669,600
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$53,103,595
Less Construction Fund Earnings	(498,056)
Less DDA Equity Contribution	(7,965,539)
Less Other	0
AMOUNT OF BOND ISSUE	$44,640,000
Estimated Construction Fund Deposit from Bond Proceeds	$43,868,905
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
Local        Financing Fund        Interest Interest
Date	Expenditures	Costs	Totals	Month	Payout %		Receipts	Balance	Rate	Earned
May 09						Fund Equity	$7,965,539	$7,965,539		
May 09	$2,180,521	$771,095	$2,951,616	1	5.56%	Bond Funds	44,640,000	49,653,923	1.00%	$41,378
Jun 09	2,180,521		2,180,521	2	9.66%			47,514,781	1.00%	39,596
Jul 09	2,180,521		2,180,521	3	13.77%			45,373,856	1.00%	37,812
Aug 09	2,180,521		2,180,521	4	17.88%			43,231,146	1.00%	36,026
Sep 09	2,180,521		2,180,521	5	21.98%			41,086,651	1.00%	34,239
Oct 09	2,180,521		2,180,521	6	26.09%			38,940,370	1.00%	32,450
Nov 09	2,180,521		2,180,521	7	30.20%			36,792,299	1.00%	30,660
Dec 09	2,180,521		2,180,521	8	34.30%			34,642,438	1.00%	28,869
Jan 10	2,180,521		2,180,521	9	38.41%			32,490,786	1.00%	27,076
Feb 10	2,180,521		2,180,521	10	42.51%			30,337,341	1.00%	25,281
Mar 10	2,180,521		2,180,521	11	46.62%			28,182,101	1.00%	23,485
Apr 10	2,180,521		2,180,521	12	50.73%			26,025,066	1.00%	21,688
May 10	2,180,521		2,180,521	13	54.83%			23,866,232	1.00%	19,889
Jun 10	2,180,521		2.180,521	14	58.94%			21,705,600	1.00%	18,088
Jul 10	2,180,521		2,180,521	15	63.04%			19,543,167	1.00%	16,286
Aug 10	2,180,521		2,180,521	16	67.15%			17,378,932	1.00%	14,482
Sep 10	2,180,521		2,180,521	17	71.26%			15,212,894	1.00%	12,677
Oct 10	2,180,521		2,180,521	18	75.36%			13,045,051	1.00%	10,871
Nov 10	2,180,521		2,180,521	19	79.47%			10,875,401	1.00%	9,063
Dec 10	2,180,521		2,180,521	20	83.58%			8,703,943	1.00%	7,253
Jan 11	2,180,521		2,180,521	21	87.68%			6,530,675	1.00%	5,442
Feb 11	2,180,521		2,180,521	22	91.79%			4,355,596	1.00%	3,630
Mar 11	2,180,521		2,180,521	23	95.89%			2,178,705	1.00%	1,816
Apr 11	2,180,521		2,180,521	24	100.00%			(0)	1.00%	(0)
May 11	0		0	25	100.00%			(0)	1.00%	(0)
	$52,332,500	$771,095	$53,103,595				$52,605,539			$498,056
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 2/4/09
$44,640,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$44,640,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	27.76%	72.24%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	0.000%	0	0		0
2010	681,676	1,773,524	2,455,200	1,227,600	1,227,600	5.500%	0	2,455,200	0	0
2011	681,676	1,773,524	2,455,200	1,227,600	1,227,600	5.500%	0	2,455,200	0	0
2012	816,334	2,123,866	2,940,200	1,227,600	1,227,600	5.500%	485,000	2,940,200	0	0
2013	951,916	2,476,609	3,428,525	1,214,263	1,214,263	5.500%	1,000,000	3,428,525		0
2014	951,916	2,476,609	3,428,525	1,186,763	1,186,763	5.500%	1,055,000	3,428,525		0
2015	952,464	2,478,036	3,430,500	1,157,750	1,157,750	5.500%	1,115,000	3,430,500		0
2016	952,096	2,477,079	3,429,175	1,127,088	1,127,088	5.500%	1,175,000	3,429,175		0
2017	952,200	2,477,350	3,429,550	1,094,775	1,094,775	5.500%	1,240,000	3,429,550		0
2018	952,700	2,478,650	3,431,350	1,060,675	1,060,675	5.500%	1,310,000	3,431,350		0
2019	952,131	2,477,169	3,429,300	1,024,650	1,024,650	5.500%	1,380,000	3,429,300		0
2020	951,881	2,476,519	3,428,400	986,700	986,700	5.500%	1,455,000	3,428,400		0
2021	951,874	2,476,501	3,428,375	946,688	946,688	5.500%	1,535,000	3,428,375		0
2022	952,034	2,476,916	3,428,950	904,475	904,475	5.500%	1,620,000	3,428,950		0
2023	952,284	2,477,566	3,429,850	859,925	859,925	5.500%	1,710,000	3,429,850		0
2024	952,547	2,478,253	3,430,800	812,900	812,900	5.500%	1,805,000	3,430,800		0
2025	952,749	2,478,776	3,431,525	763,263	763,263	5.500%	1,905,000	3,431,525		0
2026	952,811	2,478,939	3,431,750	710,875	710,875	5.500%	2,010,000	3,431,750		0
2027	952,658	2,478,542	3,431,200	655,600	655,600	5.500%	2,120,000	3,431,200		0
2028	952,214	2,477,386	3,429,600	597,300	597,300	5.500%	2,235,000	3,429,600		0
2029	951,402	2,475,273	3,426,675	535,838	535,838	5.500%	2,355,000	3,426,675		0
2030	951,534	2,475,616	3,427,150	471,075	471,075	5.500%	2,485,000	3,427,150		0
2031	952,457	2,478,018	3,430,475	402,738	402,738	5.500%	2,625,000	3,430,475		0
2032	952,631	2,478,469	3,431,100	330,550	330,550	5.500%	2,770,000	3,431,100		0
2033	951,978	2,476,772	3,428,750	254,375	254,375	5.500%	2,920,000	3,428,750		0
2034	951,812	2,476,338	3,428,150	174,075	174,075	5.500%	3,080,000	3,428,150		0
2035	951,978	2,476,772	3,428,750	89,375	89,375	5.500%	3,250,000	3,428,750		0 '
2036	0	0	0	0	0	0.000%	0	0		0
	24,079,951	62,649,074	86,729,025	21,044,513	21,044,513		44,640,000	86,729,025	0	
[1] Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 4-Feb-09 Phone (734) 668-6688 Fax:(734) 668-6723 PRS
DDA -10 Year Plan Income/Expense Summary
YEAR	1	2	3	4	5	6	7	8	9	10	11
	Actual	Estimated	Estimated	Budget Estimate	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated
md 003 DDA Tax Increment Financina (As of FY 2009 indue	FY 2006/07	FY 2007/08	FY 2008/09	FY 2009/10	FY 2010/11	FY 2011/12	FY 2012/13	FY 2013/14	FY 2014/15	FY 2015/16	FY 2016/17
Income											
Property Taxes (Pg. 3)	$3,405,586	$3,655,807	$3,545,000	$3,250,385	$3,502,385	$3,589,944	$3,679,693	$3,771,685	$3,865,977	$3,962,627	$4,061,692
Interest (Note 6)	$387,197	$235,000	$210,000	$232,341	$239,201	$64,370	$65,602	$111,815	$137,963	$139,514	$141,909
Miscellaneous (Fund balance for Historical Markers)	$31,594										
	$3,824,377	$3,890,807	$3,755,000	$3,482,725	$3,741,585	$3,654,314	$3,745,294	$3,883,500	$4,003,940	$4,102,141	$4,203,601
Expenses											
Administration (Note 1.)	$1,326,784	$682,361	$914,292	$950,864	$988,898	$1,028,454	$1,069,592	$1,112,376	$1,156,871	$1,203,146	$1,251,272
Capital Expenses (Note 2.)	$478,104	$2,100,000	$900,000	$0	$2,179,485	$0	$0	$0	$0	$0	$0
Debt Service (Pg. 7)	$1,352,770	$1,313,519	$1,308,057	$1,563,870	$2,567,474	$2,583,074	$1,906,824	$1,906,824	$1,906,824	$1,906,824	$1,906,824
Transfer to Other Agencies (Note 4)	$60,584	$550,000	$550,000	$572,000	$594,880	$618,675	$643,422	$669,159	$695,925	$723,762	$752,713
Transfer to Parking			$0	$0	$2,206,000	($811,072)	($1,394,928)	($751,944)	$0	$0	$0
Transfer to Housing (Note 3)	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000
Transfer to TIF				$0	$0						
	$3,418,242	$4,845,880	$3,872,349	$3,286,733	$8,736,737	$3,619,131	$2,424,910	$3,136,415	$3,959,620	$4,033,732	$4,110,803
Excess of Rev over Exp.	$406,136	($955,073)	($117,349)	$195,992	($4,995,152)	$35,183	$1,320,384	$747,085	$44,320	$68,409	$92,792
Prior Years Fund Bal.	$6,572,443	$6,978,579	$6,755,658	$6,638,309	$6,834,301	$1,839,149	$1,874,333	$3,194,717	$3,941,802	$3,986,122	$4,054,531
Fund Balance at End of Year	$6,978,579	$6,023,506	$6,638,309	$6,834,301	$1,839,149	$1,874,333	$3,194,717	$3,941,802	$3,986,122	$4,054,531	$4,147,323
Fund 030 DDA TIF Maintenance Fund Income
Transfer from TIF Fund (Note 3) $420,000 $420,000
Interest (Note 6) _$77,368_$15,000
	$497,368	$435,000
Expenses		
Maintenance (Page 6)	$302,339	$435,000
Excess of Rev over Exp.	$195,029	$0
Prior Years Fund Balance	$382,000	$732,152
Fund Balance at End of Year
$732,152 Balance Moved to Fund 003
Fund 063 PDA Parking Fund Income
Parking Revenue (Pg. 4)	$9,307,836	$10,211,345	$12,680,262	$12,261,463	$13,112,688	$14,674,169	$15,366,216	$15,366,216	$16,058,263	$16,170,698	$16,862,745
Meter Revenue (Pg. 4)	$2,873,100	$2,867,222	$3,855,761	$3,855,761	$4,155,761	$4,692,887	$5,230,014	$5,230,014	$5,230,014	$5,767,140	$5,767,140
Transfer from TIF	• $0		$0	$0	$2,206,000	($811,072)	($1,394,928)	($751,944)	$0	$0	$0
Interest (Note 6)	$303,665	$196,267	$141,559	$145,736	$150,636	$34	$211	$9,088	$27,076	$82,093	$146,289
	$12,484,601	$13,274,835	$16,677,582	$16,262,960	$19,625,085	$18,556,018	$19,201,513	$19,853,373	$21,315,352	$22,019,932	$22,776,175
Expenses											
Operation Expense (Note 7)	$6,338,080	$6,591,603	$7,258,438	$7,548,776	$8,200,727	$9,051,085	$9,413,128	$9,789,653	$10,181,239	$10,588,489	$11,012,028
Contribution to Cap. Imp. Fund (Note 3)	$1,162,135	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605
Contributions to Other Agencies (Note 8)	$264,492	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Debt Service (Pg. 7)	$3,305,205	$3,417,149	$3,001,933	$3,592,130	$6,439,691	$6,445,342	$6,441,790	$6,416,825	$6,387,665	$6,379,508	$6,336,448
Transfers to the City for Meter Operations	$2,741,999	$2,735,572	$2,854,267	$2,888,438	$923,975	$960,934	$999,372	$1,039,346	$1,080,920	$1,124,157	$1,169,123
Transfer to Bond Fund (Note 4)	$0		$1,350,000		$6,270,000						
	$13,811,911	$14,837,929	$16,558,243	$16,122,948	$23,927,998	$18,550,966	$18,947,894	$19,339,430	$19,743,430	$20,185,759	$20,611,205
Excess of Rev over Exp.	($1,327,310)	($1,563,095)	$119,339	$140,011	($4,302,913)	$5,052	$253,618	$513,943	$1,571,923	$1,834,173	$2,164,970
Prior Years Fund Bal.	$6,934,949	$5,607,640	$4,044,545	$4,163,883	$4,303,895	$982	$6,034	$259,653	$773,596	$2,345,519	$4,179,692
Fund Balance at End of Year	$5,607,640	$4,044,545	$4,163,883	$4,303,895	$982	$6,034	$259,653	$773,596	$2,345,519	$4,179,692	$6,344,662
											
Parkinq Capital Improvement Reserve											
Income											
Contributions from the Parking Fund (Note 3)	$1,162,135	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605	$2,093,605
Interest	$152,855	$82,240	$64,450	$130,277	$182,170	$199,656	$194,217	$213,840	$199,076	$223,881	$215,178
	$1,314,990	$2,175,845	$2,158,055	$2,223,882	$2,275,775	$2,293,261	$2,287,822	$2,307,445	$2,292,681	$2,317,486	$2,308,783
Expenses											
Parking Facility Repairs (Note 9)	$1,210,004	$1,029,899	$1,931,527	$741,227	$1,776,180	$2,448,638	$1,727,166	$2,729,288	$1,583,976	$2,566,130	$1,612,533
Excess of Rev over Exp.	$104,986	$1,145,946	$226,528	$1,482,655	$499,595	($155,377)	$560,656	($421,843)	$708,705	($248,645)	$696,250
Prior Years Fund Bal.	$2,244,737	$2,349,723	$3,495,670	$3,722,198	$5,204,852	$5,704,447	$5,549,070	$6,109,727	$5,687,884	$6,396,589	$6,147,944
Fund Balance at the End of the Year	$2,349,723	$3,495,670	$3,722,198	$5,204,852	$5,704,447	$5,549,070	$6,109,727	$5,687,884	$6,396,589	$6,147,944	$6,844,194
Fund 001 DDA Housina Fund											
Income											
Contributions from TIF	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000	$200,000
Interest (Note 3)	$64,852	$59,239	$40,431	$77,824	$87,965	$98,613	$113,544	$129,221	$145,682	$162,966	$181,114
	$264,852	$259,239	$240,431	$277,824	$287,965	$298,613	$313,544	$329,221	$345,682	$362,966	$381,114
Expenses											
Grants and Gifts ( Note 10)	$124,216	$101,652	$26,326	$75,000	$75,000	$0	$0	$0	$0	$0	$0
Excess of Rev over Exp.	$140,636	$157,587	$214,105	$202,824	$212,965	$298,613	$313,544	$329,221	$345,682	$362,966	$381,114
Prior Years Fund Bal.	$1,044,146	$1,184,782	$1,342,369	$1,556,474	$1,759,298	$1,972,262	$2,270,876	$2,584,419	$2,913,640	$3,259,322	$3,622,288
Fund Balance at End of Year	$1,184,782	$1,342,369	$1,556,474	$1,759,298	$1,972,262	$2,270,876	$2,584,419	$2,913,640	$3,259,322	$3,622,288	$4,003,403
4/10/2009
Crawford, Tom
Subject:
Sent:
To:
Cc:
From:
Horning, Matthew
Tuesday, January 06, 2009 3:28 PM Singleton, Sarah Crawford, Tom
AGENDA - 1/20/09 - DDA Bonds
Attachments:
DDA Fifth Ave Bond NOI Res.doc; DDA Fifth Ave Bond NOI Memo.doc
Please submit to Legistar for Jan. 20 meeting. We may need to adjust the "not to exceed" amount based on Paul's input, which should be forthcoming. Still working on the Bond Authorization resolution.
ODA Fifth Ave Bond DDA Fifth Ave Bond NOI Res.doc...     NOI Memo.do...
Matthew V. Horning, Treasurer Gty of Ann Arbor Telephone - (734) 794-6541 Facsimile - (734) 997-1271
Thanks, Matt
1
Library Lot Cost are Allocated between the TIF and Parking Funds
The DDA parking system builds a 241 space $9M structure at the First and Washington Site and pays 30% down to avoid taxable bonds
The DDA builds a 777space $56.3M underground structure at the Library Lot
1. The Parking Fund Bonds for $41.8M of the project
2. TIF Bonds for $9.3M for pedestrian improvement associated with the project
3. TIF Bonds for $5.3M for the future development capacity costs of building on the site The DDA completes the Fifth and Division Project for $6M most of which is bonded
The DDA contributes the bond payments on $8M for the Court/Police Facility
The annual payments from the Parking Fund to the Parking Maintenance Fund were based on a 20-year schedule of needed work by Carl Walker, Inc. The FY 2011 payment will be decreased to maintain solvency in the Parking Fund. This shortage will be made up over the next four years. No scheduled work will be postponed since these transfers give the Parking Maintenance Fund a surplus during the first 10 years to anticipate increased costs for the second 10 years.
The amount the Parking Fund borrows from the TIF Fund and its repayment schedule:
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014
$1,630,211 $2,015,304 ($485,692) ($1,222,414) ($1,937,409)
Borrowed Repayment Repayment Repayment
Balance Owed
$0
Amount of reduced/increased contributions from the Parking fund to the Parking Maintenance Fund to keep the Parking Fund solvent:
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
$359,884 $5,050,000 $288,056 $0
($315,175) ($1,961,020) ($2,091,882) ($1,329,863)
Reduced transfer amount Reduced transfer amount
Increased transfer amount Increased transfer amount Increased transfer amount
Balance Owed
$0
Parking rates needed to keep the fund solvent:
	Structures	Permits	Lots	Meters
	Hourly	Hourly	Hourly	Hourly
FY 2008	$0.80	$125	$1.00	$1.00
FY 2009	$0.80	$125	$1.00	$1.00
FY 2010	$1.00	$135	$1.20	$1.20
FY 2011	$1.10	$145	$1.40	$1.40
FY 2012	$1.20	$145	$1.40	$1.40
FY 2013	$1.30	$150	$1.50	$1.60
FY 2014	$1.40	$155	$1.60	$1.80
FY 2015	$1.40	$155	$1.70	$1.80
FY 2016	$1.50	$155	$1.70	$1.80
FY 2017	$1.50	$155	$1.70	$1.80
? TIF Fund Balance ¦ Parking Fund Balance
I—| ? Housing Fund Balance
? Parking Capital Imp. Fund
? TIF Maint Reserve
Costs Allocated TIF Borrowed
$0
I
FY 2006/07 FY 2007/08 FY 2008/09 FY 2009/10 FY 2010/11 FY 2011/12 FY 2012/13 FY 2013/14 FY 2014/15 FY 2015/16 FY 2016/17
Fiscal Years
Expenses Allocated TIF Min $1M.xls
Notes to 10 Year Plan
Note 1      TIF Administrative Expenses
Actual through FY 2006/07, estimated at   4.00% increases thereafter. Administration Expenses include:
- Salaries and Fringe Benefits
- Office, Insurance, Legal and General Expenses
Note 2     TIF Capital Expenses
This figure has been the cost of improvements to the alleys and sidewalks.
Note 3     Transfers to Other Funds
The DDA has three annual interfund transfers by Board Resolution they are: From TIF to TIF Maintenance $420,000 From TIF to Housing $200,000 From Parking to Parking Maintenance $1,162,135
Total $1,782,135
Note 4     Grants to Other Agencies
This line is for DDA grants to other organizations which benefit the downtown district. Past grants have been made to the four Merchant area associations, the Get Downtown Program and the Neutral Zone. These grants are usually budgeted, but can be approved during the year on an as needed basis by the Board.
Note 5     Transfer to Bond Fund
This line represents the 15% down payment needed to bond capital projects throught the City of Ann Arbor. In this plan there are three new bonds anticipated:
Year Project Project Amt  Down Pmt  Bond Amt.
0 Ann & Ashley Addition 2008/09 $0 #VALUE!
2851019 Library Lot Underground 2010/11        llllllllllllllllil #VALUE! 0                  0 $0 $0 $0
Note 6 Interest
The interest earned is calculated by multipling the previous years fund balance by 3.50%
Note 7     Parking Administrative Expenses
Actual through FY 2004/05, estimated at   4.00% increases thereafter. Administration Expenses include:
- Salaries and Fringe Benefits
- Payments to parking contractor for Operation and Staffing of the parking facilities
- Rent and utilities for the parking facilities
- Office, insurance, legal and general expenses
- Engineering consultations for non capital projects.
Note 8      Grants to Other Agencies
This line is for DDA grants to other organizations which affect the parking demand.
Examples of this are the grants to the Go Pass and the 3 year commitment to the North South Railroad.
Note 9     Parking Structure Maintenance Reserve
The Capital Improvement contributions are calculated on the average yearly cost of maintaining
the parking facilites through 2022 as reported on the Carl Walker report dated January, 2007 (Page 7.)
Note 10    Housing Fund Grants and Gifts
This line contains actual and projected grants from the DDA to housing related projects located in the DDA district. The current amounts represent a $1,708,861 commitment to the City of Ann Arbor to help pay the loan taken out to purchase the YMCA site. The DDA has committed $400K to the 1st & Washington with "work force" housing using this fund.
Downtown Development Authority Project List-Cash Only
TIF (From DDA Capital Imp. Committee) 2006-07        2007-08        2008-09        2009-10      2010-2011     2011-2012     2012-2013   2013-2014 2014-2015 Project
Tree Maintenance $100,000
Alleys $700,000
Sculpture Plaza $300,000
Brick & Tree Repair $200,000
Miscellaneous projects $0               $0 $0
Total $1,300,000               $1)             $0               $0             $0 $0 $0 $0 $cT
Parking (From 2007 Carl Walker Report) 2006-07 2007-08 2008-09 2009-10 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 Facility:
Fourth & Washington $161,129 $477,090
Liberty Square $720,899 $1,373,166
Ann & Ashley $248,400                                                        $1,440,180 $2,185,130
Maynard $268,650 $2,103,638
Fourth & William $1,300,064 $2,366,288
Forest $253,098 $734,886
1st & Washington Demolition
Less Bonded Projects
General Maintenance $300,000        $309,000     $318,000        $327,000     $336,000        $345,000     $354,000     $363,000      $372,000 $381,000
Total Yearly Costs
$817,050     $1,029,899   $1,618,064        $741,227   $1,776,180      $2,448,638   $1,727,166 $2,729,288   $1,583,976 $2,566,130
DDA-10 Year Plan Bond Payment Schedule
			Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated
		Bond	2006/07	2007/08	FY 2008-09	FY 2009/10	FY 2010/11	FY 2011/12	FY 2012/13	FY 2013/14	FY 2014/15	FY 2015/16
Year	Project	Amount										
Category 1. Bonds Paid from TIF Revenue												
1992	Ped. Imp	$3,750,000	$394,250	$376,750	$359,000							
1998	Ped. Imp Refund	$1,885,000	$336,642	$326,933	$321,397							
2002	State Street Bond	$4,925,000	$569,165	$609,835	$627,335	$648,075	$660,650	$676,250				
2009/10	5th & Division	$8,200,000	$0	$409,237	$409,237	$409,237	$409,237	$409,237	$409,237	$409,237	$409,237	$409,237
2010/11) Structure Pedestrian Improv		$7,859,355					$630,655	$630,655	$630,655	$630,655	$630,655	$630,655
2010/11	Future Development	$4,491,060					$360,374	$360,374	$360,374	$360,374	$360,374	$360,374
2009/10	City Hall	$8,200,000	$0	$0	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557
		$39,310,415	$1,300,057	$1,722,755	$2,223,526	$1,563,870	$2,567,474	$2,583,074	$1,906,824	$1,906,824	$1,906,824	$1,906,824
Category 2. Bonds Paid from Parking Revenue												
1998	4th & Washington & Refund	$10,100,000	$1,165,916	$883,716	$577,216	$590,604	$592,546	$593,320	$592,829	$591,110	$593,075	$593,663
1998	DDA Bond Refund	$2,155,000	$384,838	$373,739	$367,497							
1999	Maynard-4th & Wash	$9,040,000	$336,013	$473,225	$603,038							
2000	Forest	$10,500,000	$518,425	$545,600	$545,025	$533,075						
2002	4th & Williams	$3,600,000	$272,138	$277,848	$282,808	$282,108	$280,908	$284,348	$287,123	$284,203	$285,878	$286,908
2005	Re. of 4th & Wash+Maynard	$13,305,000	$627,500	$627,500	$627,500	$1,227,500	$1,758,500	$1,757,300	$1,754,300	$1,732,050	$1,697,800	$1,687,050
2007	4th & William Addition	$4,250,000		$235,521	$346,875	$344,988	$342,863	$345,500	$342,663	$344,588	$346,038	$347,013
2008/09	First & Washington	$7,650,000		$0	$0	$613,856	$613,856	$613,856	$613,856	$613,856	$613,856	$613,856
2008/09	Ann & Ashley Addition	$0				$0	$0	$0	$0	$0	$0	$0
2010/11	Library Lot Underground	$35,530,000				$0	$2,851,019	$2,851,019	$2,851,019	$2,851,019	$2,851,019	$2,851,019
		$60,600,000	$3,304,830	$3,417,149	$3,349,959	$3,592,130	$6,439,691	$6,445,342	$6,441,790	$6,416,825	$6,387,665	$6,379,508
		$99,910,415	$4,604,887	$5,139,904	$5,573,485	$5,156,000	$9,007,165	$9,028,416	$8,348,614	$8,323,649	$8,294,489	$8,286,332
"Bold" Bonds Projected for projects that have not yet been approved - for discussion purposes only.
4/10/2009
Expenses Allocated TIF Min $1M.xls
Parking Fund Income By Type and Facility
	FY 2006/07	FY 2007/08	FY 2008/09	FY 2009/10	FY 2010/11	FY 2011/12	FY 2012/13	FY 2013/14	FY 2014/15	FY 2015/16	FY 2016/17
Parking Rates											
Transient	$0.80	$0.80	$1.10	$1.10	$1.20	$1.20	$1.30	$1.30	$1.40	$1.40	$1.50 |
Validation	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50
Permit	$105.00	$125.00	$145.00	$145.00	$145.00	$145.00	$145.00	$145.00	$145.00	$145.00	$145.00 |
Other	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00
Meter	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00
Washington & Fourth	281	281	281	281	281	281	281	281	281	281	281
Transient	$443,234	$443,234	$609,447	$609,447	$664,851	$664,851	$720,255	$720,255	$775,660	$775,660	$831,064
Validation	$35,080	$35,080	$48,235	$48,235	$52,620	$52,620	$57,005	$57,005	$61,390	$61,390	$65,775
Permit	$138,065	$164,363	$190,661	$190,661	$190,661	$190,661	$190,661	$190,661	$190,661	$190,661	$190,661
Other	$17,440	$17,440	$23,980	$23,980	$26,160	$26,160	$28,340	$28,340	$30,520	$30,520	$32,700
Washington & First	69	69	0	0	241	241	241	241	241	241	241
Transient	$57,834	$57,834	$0	$0	$214,120	$214,120	$231,963	$231,963	$249,807	$249,807	$267,650
Validation	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$62,862	$74,836	$86,809	$86,809	$86,809	$86,809	$86,809	$86,809	$86,809	$86,809	$86,809
Other	$3,013	$3,013	$0	$0	$11,155	$11,155	$11,155	$11,155	$11,155	$11,155	$11,155
Maynard	797	797	797	797	797	797	797	797	797	797	797
Transient	$1,346,015	$1,346,015	$1,850,771	$1,850,771	$2,019,023	$2,019,023	$2,187,274	$2,187,274	$2,355,526	$2,355,526	$2,523,778
Validation	$46,357	$46,357	$63,741	$63,741	$69,536	$69,536	$75,330	$75,330	$81,125	$81,125	$86,919
Permit	$233,872	$278,419	$322,966	$322,966	$322,966	$322,966	$322,966	$322,966	$322,966	$322,966	$322,966
Other	$87,116	$87,116	$119,785	$119,785	$130,674	$130,674	$141,564	$141,564	$152,453	$152,453	$163,343
Forest	591	591	591	591	591	591	591	591	591	591	591
Transient	$763,169	$837,427	$1,151,462	$1,151,462	$1,256,141	$1,256,141	$1,360,819	$1,360,819	$1,465,497	$1,465,497	$1,570,176
Validation	$31,888	$31,888	$43,846	$43,846	$47,832	$47,832	$51,818	$51,818	$55,804	$55,804	$59,790
Permit	$141,685	$168,673	$195,660	$195,660	$195,660	$195,660	$195,660	$195,660	$195,660	$195,660	$195,660
Other	$102,274	$102,274	$140,627	$140,627	$153,411	$153,411	$166,195	$166,195	$178,980	$178,980	$191,764
Fourth & Williams	847	1007	1007	1007	1007	1007	1007	1007	1007	1007	1007
Transient	$452,723	$538,243	$740,085	$740,085	$807,365	$807,365	$874,645	$874,645	$941,926	$941,926	$1,009,206
Validatbn	$83,800	$99,630	$136,991	$136,991	$149,445	$149,445	$161,899	$161,899	$174,352	$174,352	$186,806
Permit	$982,360	$1,169,476	$1,356,592	$1,356,592	$1,356,592	$1,356,592	$1,356,592	$1,356,592	$1,356,592	$1,356,592	$1,356,592
Other	$41,887	$49,800	$68,474	$68,474	$74,699	$74,699	$80,924	$80,924	$87,149	$87,149	$93,374
Liberty Square	594	594	594	594	594	594	594	594	594	594	594
Transient	$78,128	$78,128	$107,426	$107,426	$117,192	$117,192	$126,958	$126,958	$136,724	$136,724	$146,490
Validatbn	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$972,477	$1,157,711	$1,342,944	$1,342,944	$1,342,944	$1,342,944	$1,342,944	$1,342,944	$1,342,944	$1,342,944	$1,342,944
Other	$38,579	$38,579	$53,046	$53,046	$57,869	$57,869	$62,691	$62,691	$67,513	$67,513	$72,336
Ann & Ashley	826	826	826	826	826	826	826	826	826	826	826
Transient	$258,797	$258,797	$355,846	$355,846	$388,196	$388,196	$420,545	$420,545	$452,895	$452,895	$485,244
Validation	$18,182	$18,182	$25,000	$25,000	$27,273	$27,273	$29,546	$29,546	$31,819	$31,819	$34,091
Permit	$1,016,682	$1,210,336	$1,403,989	$1,403,989	$1,403,989	$1,403,989	$1,403,989	$1,403,989	$1,403,989	$1,403,989	$1,403,989
Other	$79,926	$79,926	$109,898	$109,898	$119,889	$119,889	$129,880	$129,880	$139,871	$139,871	$149,861
Library						900	900	900	900	900	900
Transient						$526,267	$570,123	$570,123	$613,978	$613,978	$657,834
Validatbn						$24,015	$26,016	$26,016	$28,017	$28,017	$30,019
Permit						$870,000	$870,000	$870,000	$870,000	$870,000	$870,000
Other Lots						$28,763	$31,160	$31,160	$33,557	$33,557	$35,954
Transient	$1.00	$1.00	$1.20	$1.30	$1.40	$1.50	$1.60	$1.60	$1.70	$1.80	$1.90
Validatbn	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50	$0.50
Premium Permit	$145.00	$175.00	$175.00	$175.00	$175.00	$175.00	$175.00	$175.00	$175.00	$175.00	$175.00
Open Lot Permit	$85.00	$105.00	$105.00	$105.00	$105.00	$105.00	$105.00	$105.00	$105.00	$105.00	$105.00
Other	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00	$10.00
Meter	$1.00	$1.00	$1.40	$1.40	$1.40	$1.60	$1.80	$1.80	$1.80	$2.00	$2.00
Meter Bags	$15.00	$15.00	$15.00	$15.00	$15.00	$15.00	$15.00	$15.00	$15.00	$15.00	$15.00
Library	193	193	193								
Transient	$402,345	$402,345	$482,814								
Validatbn	$18,360	$18,360	$22,032								
Permit	$0	$0	$0								
Other	$21,990	$21,990	$26,388								
South Ashley	134	134	134	134	134	134	134	134	134	134	134
Transient	$386,955	$386,955	$464,346	$503,042	$541,737	$580,433	$619,128	$619,128	$657,824	$696,519	$735,215
Validatbn	$19,476	$19,476	$19,476	$19,476	$19,476	$19,476	$19,476	$19,476	$19,476	$19,476	$19,476
Permit	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other	$11,479	$11,479	$11,479	$11,479	$11,479	$11,479	$11,479	$11,479	$11,479	$11,479	$11,479
First & Huron	184	184	184	184	184	184	184	184	184	184	184
Transient	$584,209	$584,209	$701,051	$759,472	$817,893	$876,314	$934,734	$934,734	$993,155	$1,051,576	$1,109,997
Validatbn	$19,524	$19,524	$23,429	$25,381	$27,334	$29,286	$31,238	$31,238	$33,191	$35,143	$37,096
Permit		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other	$14,621	$14,621	$17,545	$19,007	$20,469	$21,932	$23,394	$23,394	$24,856	$26,318	$27,780
Fifth & Huron	56	56	56	56	56	56	56	56	56	56	56
Transient	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Validatbn	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$98,638	$119,046	$142,855	$154,760	$166,664	$178,569	$190,473	$190,473	$202,378	$214,283	$226,187
Other	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
First & Williams	105	105	105	105	105	105	105	105	105	105	105
Transient	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Validatbn	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$126,637	$156,434	$156,434	$156,434	$156,434	$156,434	$156,434	$156,434	$156,434	$156,434	$.156,434
Other	$3,200	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640
Fingerle	55	55	55	55	55	55	55	55	55	55	55
Permit	$45,508	$56,216	$56,216	$56,216	$56,216	$56,216	$56,216	$56,216	$56,216	$56,216	$56,216
Other	$4,270	$5,275	$5,275	$5,275	$5,275	$5,275	$5,275	$5,275	$5,275	$5,275	$5,275 •
Meters	1,913	1,913	1,913	1,913	1,913	1,913	1,913	1,913	1,913	1,913	1,913
Meters	$2,471,347	$2,471,347	$3,459,886	$3,459,886	$3,759,886	$4,297,012	$4,834,139	$4,834,139	$4,834,139	$5,371,265	$5,371,265
Meter Bags	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875
Totals											
Spaces	6,645	6,805	6,736	6,543	6,784	7,684	7,684	7,684	7,684	7,684	7,684
Transient	$4,773,409	$4,933,187	$6,463,247	$6,077,549	$6,826,516	$7,449,900	$8,046,445	$8,046,445	$8,642,991	$8,740,108	$9,336,654
Validatbn	$272,667	$288,497	$382,750	$362,671	$393,515	$419,482	$452,328	$452,328	$485,174	$487,126	$519,972
Permit	$3,818,786	$4,555,509	$5,255,128	$5,267,033	$5,278,937	$6,160,842	$6,172,746	$6,172,746	$6,184,651	$6,196,555	$6,208,460
Other	$425,795	$434,152	$579,137	$554,211	$613,720	$643,945	$694,696	$694,696	$745,447	$746,909	$797,660
Meters	$2,471,347	$2,471,347	$3,459,886	$3,459,886	$3,759,886	$4,297,012	$4,834,139	$4,834,139	$4,834,139	$5,371,265	$5,371,265
Meter Bags	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875	$395,875
	$12,157,879	$13,078,567	$16,536,022	$16,117,224	$17,268,449	$19,367,056	$20,596,230	$20,596,230	$21,288,277	$21,937^839	$22,629,886
4/10/2009
Expenses Allocated TIF Min $1M.xls
Downtown Development Authority Estimation of Net Tax Revenues FY 1982/83-2012/13
Fiscal Est. SEV
Year      from DDA TIF Plans
Actual/Est. SEV "B"
Actual Prop. Tax Millage Rate
Homestead
Non-Homestead
Est. Tax Capture from DDA TIF Plans
Actual/Est. Tax Capture
Estimates used are from the 1982 DDA TIF plan
1983	$0	$0			$0	$0
1984	$2,000,000	$2,154,000	N/A	N/A	$120,000	$127,258
1985	$7,100,000	$6,319,200	68.0200	68.0200	$426,000	$415,081
1986	$12,450,000	$9,007,500	67.9600	67.9600	$747,000	$577,701
1987	$18,070,000	$18,594,100	68.9000	68.9000	$1,080,000	$1,248,904
1988	$23,970,000	$28,453,400	67.9900	67.9900	$1,438,000	$1,912,679
1989	$30,170,000	$38,460,400	65.7900	65.7900	$1,810,000	$2,548,908
1990	$36,680,000	$41,524,000	63.3900	63.3900	$2,201,000	$2,374,803
1991	$43,510,000	$43,437,500	63.3200	63.3200	$2,611,000	$2,576,842
1992	$50,710,000	$44,323,700	63.3200	63.3200	$3,043,000	$2,679,982
1993	$58,250,000	$42,545,100	63.1300	63.1300	$2,495,000	$2,698,218
1994	$66,160,000	$42,244,300	49.9740	56.6162	$3,967,000	$2,623,696
1995	$74,470,000	$42,760,900	50.4221	57.8107	$4,468,000	$2,359,539
1996	$83,190,000	$42,219,400	47.8084	57.5951	$4,991,000	$2,427,769
1997	$92,350,000	$45,517,800	49.7825	58.8097	$5,541,000	$2,573,290
1998	$101,970,000	$46,926,400	49.3022	58.8566	$6,118,000	$2,766,277
1999	$112,070,000	$50,577,459	48.3181	58.0204	$6,724,000	$2,964,684
2000	$122,670,000	$53,470,559	48.3172	58.0195	$7,360,000	$2,788,112
2001	$133,800,000	$52,279,294	47.4614	58.1021	$8,028,000	$2,660,516
2002	$145,490,000	$57,620,096	46.8020	57.7565	$8,729,000	$2,884,034
Estimates used are from the 2002 DDA TIF plan
2003	$59,330,104	$69,324,486	47.5568	58.9490	$2,881,901	$3,163,739
2004	$61,059,151	$72,123,783	45.4418	57.7879	$2,880,617	$3,204,541
2005	$62,838,671	$76,955,174	47.3625	59.6817	$2,907,575	$3,326,486
2006	$64,670,139	$78,671,971	46.7755	59.2397	$2,931,586	$3,365,468
2007	$66,555,075	$81,877,369	46.1895	59.1823	$2,934,741	$3,405,586
2008	$68,495,042	$83,924,303			$2,932,832	$3,655,807
2009	$70,491,649	$86,022,411			$2,940,752	$3,962,278
2010	$72,546,553	$88,172,971			$1,931,198	$3,250,385
2011	$74,661,458	$90,377,295			$1,969,825	$3,502,385
2012	$76,838,119	$92,636,728			$2,009,220	$3,589,944
2013	$79,078,342	$94,952,646			$2,049,402	$3,679,693
2014	$81,383,987	$97,326,462			$2,090,391	$3,771,685
2015	$83,759,967	$99,759,624			$2,132,198	$3,865,977
2016	$86,199,251	$102,253,614			$2,174,844	$3,962,627
2017	$88,712,867	$104,809,955			$2,218,341	$4,061,692
2018	$91,299,902	$107,430,203			$2,262,709	$4,163,235
2019	$93,962,503	$110,115,959			$2,307,963	$4,267,315
2020	$96,702,881	$112,868,857			$2,354,121	$4,373,998
2021	$99,523,312	$115,690,579			$2,401,203	$4,483,348
2022	$102,426,138	$118,582,843			$2,449,229	$4,595,432
2023	$105,413,769	$121,547,414			$2,498,213	$4,710,318.
2024	$108,488,688	$124,586,100			$2,548,175	$4,828,076
2025	$111,653,448	$127,700,752			$2,599,139	$4,948,778
2026	$114,910,679	$130,893,271			$2,651,121	$5,072,497
2027	$118,263,087	$134,165,603			$2,704,145	$5,199,309
2028	$121,713,456	$137,519,743			$2,758,229	$5,329,292
2029	$125,264,655	$140,957,737			$2,813,392	$5,462,525
2030	$128,919,634	$144,481,680			$2,869,659	$5,599,088
2031	$132,681,431	$148,093,722			$2,927,051	$5,739,065
2032	$136,553,174	$151,796,065			$2,985,592	$5,882,541
	$3,999,477,132	$3,954,054,429			$148,012,364	$169,631,402
Estimated rate of increase is:
2.50%
DDA 10-Year Plan Variables
1 TIF Growth Rate
2.50% After FY 2011
Significate additions to TIF revenue:
Liberty Lofts Ashley Terrace 411 Lofts Zaragon
2 Interest Rate on Fund Balances
3 TIF Administrative Expense Growth Rate
4 Yearly Parking Rate Increases
5 Parking Administrative Expense Growth Rate
6 City and Private Lot Rental Cost of Living Adjustment Rate
7 Amount of Yearly Grant from TIF to Housing Fund
Amount of Yearly Grant from Parking to Parking Maintenance Fund
8 Possible Future Projects
Year
TIF Fund
Name of Project 5th & Division Parking Structure Pedestrian Improvements Future Development City Hall
3.50%
4.00%
0.00%
4.00%
4.00%
$200,000 $2,093,605
Fiscal Year Project Begins 2007/08 2010/11 2010/11 2009/10
2008 $225,279
2009 $225,279 $336,000
2010 $225,279 $336,000 $138,000 $114,000
Total Cost Amount to be
of Project Paid from Cash
$6,000,000 $900,000
$9,246,300 $1,386,945
$5,283,600 $792,540
$8,200,000 $0
Amount to be Financed over 20 years $5,100,000 $7,859,355 $4,491,060 $8,200,000
2011 $225,279 $336,000 $276,000 $228,000
Annual Bond    Annual Revenue
Payments $409,237 $630,655 $360,374 $506,557
Generated
Parking Fund
Name of Project First & Washington Ann & Ashley Addition Library Lot Underground
Fiscal Year Total Cost Amount to be   Amount to be Annual Bond
Project Begins of Project Paid from Cash Financed over 20 years Payments
2008/09 $9,000,000 $1,350,000                 $7,650,000 $613,856 $312,084
2008/09 $0 $0                           $0 $0
2010/11 $41,800,000 $6,270,000                $35,530,000 $2,851,019 $1,449,045
9 Assumed Rent from DDA to City for Parking Meters            FY      2005 $107,517
2006 $2,000,000
2007 $2,000,000
2008 $2,000,000
2009 $2,000,000
2010 $2,000,000
2011 $0
2012 $0
2013 $0
2014 $0
2015 $0
voicemail
Page 1 of 1
Matt and Tom,
I had not sent it yet so here you are:
Total Project Cost
Amount to be bonded
Cost to be paid from DDA Fund Balances
$56,400,000 $47,940,000 $8,640,000
This project is to construct a 777 space four story underground parking structure that includes a new street going west to east on the north side of the Ann Arbor Public Library as well as utility upsizing under Fifth Avenue and Division Street and a new downtown alley. The footprint of the project will be from the west side of Fifth avenue to the west side of Division street and under Fifth Ave from the northern edge of the current parking lot to William Street. The parking structure will be built to hold up to a 25 story building on it.
I have also attached the DDA's 10-Year plan that incorporates this project along with our other planned projects and anticipated revenues.
We do not have a firm date for construction to begin and therefore are very flexible as to when the bonds need to be sold. Please let me know if you need any further information.
Got your voicemail. Thanks. You indicated that you would send an email, so I deleted the voicemail. I don't have anything in my e-mail yet. If you've already sent it, could you send it again?
Thanks, Matt
Matthew V. Horning, Treasurer Qty of Ann Arbor Telephone - (734) 794-6541 Facsimile - (734) 997-1271
Thanks,
Joe
From: Horning, Matthew [mailto:MHorning@a2gov.org] Sent: Tuesday, January 06, 2009 12:28 PM To: Joseph Morehouse Subject: voicemail
Hi Joe,
4/10/2009
Meters &
	4th & Wash	Maynard	Forest	1st & Wash	4th & Will.	Liberty Sq.	Ann Ashley	Library	Kline	1st & Huron	5th & Huron	1st & Will.	Meter Bags	Total
	281	752	591	183	879	594	826	193	134	160	57	108	1700	6458
Electricity	$ 64,452	$    52,412 !	$ 53,143	$ 12,946	$ 15,059	$ 37,486	$ 49,202	$ 528	$ 682	$ 2,133	$ 643	$ 651	{	5 289,337
Gas		$      1,517 !	$ 149		$ 3		$ 430						(	5 2,099
Water	$ 1	$        781 !	$ 1,569	$ 2,114	$ 1,482	$ 280	$ 854	$ 681	$ 968	$ 963	$ 220	$ 159	$        245 !	5 10,316
	: ' 64,452.80	$     54,710 i	$ 54.860S	$ 15,061.	$ 16,545	$ 37,766	$ 50,485	$ 1,209	$   1,649	$ 3,096	$ 863	$ 810	$        245 !	i 301,751
AABA Refund Ped Imp. Maynard                  Forest             4th & Williams       4th & W & Maynard
12/1/1998 1991 & 1992 1999                       2000                     2002 2005
$883,716 $373,739 $473,376                $545,600               $277,848 $627,725
4th & Wash                         65.00%     $574,415 5.05%          $18,874 $593,289
Ann & Ashley $0
Maynard 42.69%        $159,549 100.00%     $473,376                                                            50.00%    $313,863 $946,788
1st & Wash 0.43%           $1,607 $1,607
Forest 8.55%          $31,955 100.00% $545,600 $577,555
4th & William 43.28%        $161,754 100.00% $277,848     50.00%    $313,863 $753,465
Ped Imp 1991 & 1992             35.00%     $309,301 $309,301
100.00%     $883,716 100.00%        $373,739 100.00%     $473,376    100.00% $545,600   100.00% $277,848    100.00%    $627,725 $3,182,004
Ann Arbor Downtown Developement Authority Parking Structure Operating Income Comparison FY 00/01 - FY 01/02
	FY '01	FY '02	$ Change		% Change	
4th & Wash	$ 594,770	$ 629,270	$	34,500	5.48%	Increased usage
Maynard	$1,259,987	$ 1,546,569	$	286,582	18.53%	Increased usage
Forest	$	$ 692,475	$	692,475	100.00%	Opened 7/1/01
1st & Wash	$ 295,777	$ 414,061	$	118,284	28.57%	Top floor opened
4th & Will.	$1,528,000	$ 1,466,893	$	(61,107)	-4.17%	Construction
Liberty Sq.	$ 983,568	$   1,064,445	$	80,877	7.60%	Increased price & # of permits
Ann Ashley	$ 1,344,442	$ 1,374,424	$	29,982	2.18%	
Library	$ 527,155	$ 550,224	$	23,069	4.19%	
Kline	$ 487,652	$ 506,093	$	18,441	3.64%	
1st & Huron	$ 498,323	$ 484,245	$	(14,078)	-2.91%	
5th & Huron	$ 9,531	$ 45,782	$	36,251	79.18%	Opened 11/1/01
Total	$7,529,205	$ 8,621,008	$ 1,245,274		12.66%	
	Less:	Forest	$	692,475		
		5th & Huron	$	36,251		
		Net Increase	$	516,548	6.86%	
ce Increases	Premits	$100-$ 105		4.76%		
	Hourly	$.90-$.95		5.26%		
Ann Arbor Downtown Development Authority Parking Structure Operating Income Statement For the Fiscal Year Ended 6/30/08
Meters &
	4th & Wash		Maynard		Forest	1st & Wash		4th & Will.	Liberty Sq.	Ann Ashley		Library	Kline	1st	; & Huron	5th & Huron	1st & Will.	Fingerle	415 W. Wash.	Meter Bags	Total
Parking Spaces Per Facility	281		805		591		64	994	892		839	192	134		168	56	112	45	134	1905	7212
Permit	$ 50,770	$	268,241	$	161,843	$	76,375	$1,543,969	$1,161,137	$	1,152,994	$	$	$		$ 113,840	$ 146,518	$ 40,348	$ 31,830	$	i 4,747,864
Hourly	$ 494,165	$	1,430,826	$	881,775	$	50,448	$ 479,926	$ 108,595	$	292,637	$ 380,626	$ 411,875	$	563,636	$	$		$ 32,144	$2,428,097 $	i 7,554,751
Bags																				$ 546,861 $	i 546,861
Validation	$ 42,657	$	45,176	$	84,029	$	-	$ 60,006	$	$	43,735	$     1,832	$ 25,744	$	62,948	$	$			$	366,127
Miscellaneous	$ 16,087	$	92,511	$	173,767	$	3,433	$ 52,996	$ 23,176	$	68,892	$ 20,693	$   11,356	$	14,279	$	$ 4,495	$ 4,567	$ 1,253	$     6,843 $	i 494,349
Total Revenues	$ 603,679	$	1,836,754	$	1,301,414	$	130,256	$2,136,897	$1,292,908	$	1,558,258	$ 403,152	$ 448,975	$	640,863	$ 113,840	$ 151,013	$ 44,915	$ 65,227	$2,981,801 $	i 13,709,951
Total Revenues /Space	$ 2,148	$	2,282	$	2,202	$	2,035	$ 2,150	$ 1,449	$	1,857	$ 2,100	$ 3,351	$	3,815	$ 2,033	$ 1,348	$ 998	$ 487	$      1,565 $	i 1,901
Expenses																					
Operating Expenses																					
Employee	$ 293,095	$	567,524	$	308,635	$	90,478	$ 459,496	$ 160,885	$	474,052	$ 219,870	$ 217,763	$	248,894	$ 22,835	$ 8,771	$     1,489	$	$  266,966 $	I 3,340,753
Lot Rent & Taxes	$	$		$	-	$	-	$	$	$	-	$	$	$	302,249	$ 23,104	$	$ 54,654	$	$2,811,904 $	i 3,191,911
Insurance	$ 3,048	$	8,646	$	9,537	$	693	$ 10,450	$ 6,501	$	9,207	$ 2,343	$ 1,584	$	1,815	$ 675	$ 1,051	$ 605	$ 1.160	$        420 $	I 57,735
Tickets	$ 3,004	$	8,170	$	2,869	$	-	$ 3,264	$	$	2,606	$ 2,621	$ 2,823	$	3,967	$	$ 219	$ 219	$ 219	$            - $	; 29,980
Phone	$ 971	$	19,565	$	1,265	$	934	$ 6,527	$ 1,109	$	6,667	$ 1,138	$ 1,275	$	1,118	$	$	$	$	$      6,866 $	I 47,437
Utilities	$ 59,146	$	74,750	$	63,977	$	2,757	$ 49,087	$ 37,112	$	53,387	$ 5,734	$ 1,181	$	4,457	$ 2.536	$ 1,614	$	$	$      7,743 J	i 363,482
Supplies (Office)	$       1,028	$	21,891	$	3,680	$	422	$ 7,062	$ 921	$'	8,242	$ 915	$ 795	$	1,738	$ 480	$ 484	$ 484	$ 40	$     2,060 $	I 50,242
Maintenance	$ 33,759	$	58,562	$	39,485	$	34,159	$ 48,685	$ 33,244	$	49,981	$ 79,739	$ 78,633	$	79,974	$ 7,843	$ 31,566	$ 10,135	$ 31,501	$    56,757 J	i 674.024
Contract Work	$ 20,091	$	37,630	$	33,096	$	2,156	$ 44,607	$ 28,905	$	50,083	$ 16,523	$ 6,457	$	17,951	$ 1,271	$ 160	$ 240	$ 1,835	$    40,057 J	i 301,061
Other Operational	$ 4,015	$	8,398	$	2,739	$	1,368	$ 2,684	$     1,242	$	8,203	$ 1,332	$ 1,423	$	1,866	$ 89	$ 89	$ 80	$ 111	$     1,922 $	i 35,561
Total Operating Expenses	$ 418,158	$	805,136	$	465,283	$	132,967	$ 631,863	$ 269,919	$	662,429	$ 330,215	$ 311,933	$	664,029	$ 58,832	$ 43,954	$ 67,904	$ 34,865	$3,194,696 5	! 8,092,185
Total Operating Expense/Space	$ 1,488	$	1,000	$	787	$	2,078	$ 636	$ 303	$	790	$ 1,720	$ 2,328	$	3,953	$ 1,051	$ 392	$ 1,509	$ 260	$      1,677 i	; 1,122
Management Fee	$ 7,865	$	11,000	$	12,100	$	4,400	$ 12,375	$ 11,000	$	13.200	$ 6,600	$ 6,050	$	6,050	$ 4,800	$ 4,800	$ 4,200	$	$    37,500 5	i 141,940
	$ 426,023	$	816,136	$	477,383	$	137,367	$ 644,238	$ 280,919	$	675,629	$ 336,815	$ 317,983	$	670,079	$ 63,632	$ 48,754	$ 72,104	$ 34,865	$3,232,196	
Net Annual income Before Debt	$ 177,656	$	1,020,618	$	824,031	$	(7,111)	$1,492,659	$1,011,989	$	882,629	$ 66,337	$ 130,991	$	(29,216)	$ 50,208	$ 102,259	$ (27,190)	$ 30.362	$ (250,395) 5	i 5,475,826
Net Annual Inc. Before Debt /Space	$ 632	$	1,268	$	1,394	$	(111)	$ 1,502	$ 1,135	$	1,052	$ 346	$ 978	$	(174)	$ 897	$ 913	$ (604)	$ 227	$      (131) 5	i 759
Bond Payments	$ 593,289	$	946,788	$	577,555	$	1,607	$ 753,465	$	$		$	$	$		$	$			$           - S	i 2,872,704
Total Expense	$ 1,019,312	$	1,762,924	$	1,054,938	$	138,974	$1,397,703	$ 280,919	$	675,629	$ 336,815	$ 317,983	$	670,079	$ 63,632	$ 48,754	$ 72,104	$ 34,865	$3,232,196 i	! 11,106,829
Total Expenses /Space	$ 3,627	$	2,190	$	1,785	$	2,171	$ 1,406	$ 315	$	805	$ 1,754	$ 2,373	$	3,989	$ 1,136	$ 435	$ 1,602	$ 260	$     1,697 3	! 1,540
Net Annual Income After Debt	$ (415,633)	$	73,830	$	246,476	$	(8,718)	$ 739,194	$1,011,989	$	882,629	$ 66,337	$ 130,991	$	(29,216)	$ 50,208	$ 102,259	$ (27,190)	$ 30,362	$ (250,395) S	; 2,603,122
Net Annual Inc. After Debt/Space $      (1,479) $ 92   $       417   $      (136) $       744   $     1,135   $     1,052   $       346   $       978   $      (174) $       897   $       913   $      (604) $ 227   $      (131) $ 361
This spreadsheet contains the operating income and expenses only and does not contain major capital (bonded) expenses or DDA management expenses.
Ann Arbor Downtown Development Authority New Parking Facility Estimation
1 st & Wash Library Parking Spaces Per Facility 241 817
Permit Hourly Validation
Total Revenues
$414,060 $1,269,037 $132,426 $444,866
_$49,321
$ 546,486   $ 1,763,224
Total Revenues/Space $ 2,268   $ 2,158
Expenses
Operating Expenses
Employee	$	293,095	$	459,496
Lot Rent & Taxes	$	-	$	-
Insurance	$	3,048	$	10,450
Tickets	$	3,004	$	3,264
Phone	$	971	$	6,527
Utilities	$	59,146	$	49,087
Supplies (Office)	$	1,028	$	7,062
Maintenance	$	33,759	$	48,685
Contract Work	$	20,091	$	44,607
Other Operational	$	4,015	$	2,684
Total Operating Expenses	$	418,158	$	631,863
Total Operating Expense/Space	$	1,735	$	773
Management Fee	$	7,865	$	12,375
	$	426,023	$	644,238
Net Annual Income Before Debt	$	120,463	$	1,118,986
Net Annual Inc. Before Debt /Space	$	500	$	1,370
Bond Payments		$613,856		$2,851,196
Total Expense	$	1,039,879	$	3,495,434
Total Expenses /Space	$	4,315	$	4,278
Net Annual Income After Debt	$	(493,393)	$	(1,732,210)
Net Annual Inc. After Debt /Space $
(2,047) $
(2,120)
$35,675,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
			$35,675,000			Dated	5/1/09		
F/Y		Net	Interest	Interest		Principal			Annual
End	DDA	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	Revenue	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	5.500%	0	0		0
2010	1,962,125	1,962,125	981,063	981,063	5.500%	0	1,962,125	0	0
2011	2,662,125	2,662,125	981,063	981,063	5.500%	700,000	2,662,125	0	0
2012	2,658,625	2,658,625	961,813	961,813	5.500%	735,000	2,658,625	0	0
2013	2,658,200	2,658,200	941,600	941,600	5.500%	775,000	2,658,200		0
2014	2,660,575	2,660,575	920,288	920,288	5.500%	820,000	2,660,575		0
2015	2,660,475	2,660,475	897,738	897,738	5.500%	865,000	2,660,475		0
2016	2,657,900	2,657,900	873,950	873,950	5.500%	910,000	2,657,900		0
2017	2,657,850	2,657,850	848,925	848,925	5.500%	960,000	2,657,850		0
2018	2,660,050	2,660,050	822,525	822,525	5.500%	1.015,000	2,660,050		0
2019	2,659,225	2,659,225	794,613	794,613	5.500%	1,070,000	2,659.225		0
2020	2,660,375	2,660,375	765,188	765,188	5.500%	1,130,000	2,660,375		0
2021	2,658,225	2,658,225	734,113	734,113	5.500%	1,190,000	2,658,225		0
2022	2,657,775	2,657,775	701,388	701,388	5.500%	1,255,000	2,657,775		0
2023	2,658,750	2,658,750	666,875	666,875	5.500%	1,325,000	2,658,750		0
2024	2,660,875	2,660,875	630,438	630,438	5.500%	1,400,000	2,660,875		0
2025	2,658,875	2,658,875	591,938	591,938	5.500%	1,475,000	2,658,875		0
2026	2,657,750	2,657,750	551,375	551,375	5.500%	1,555,000	2,657,750		0
2027	2,662,225	2,662,225	508,613	508,613	5.500%	1,645,000	2,662,225		0
2028	2,661,750	2,661,750	463,375	463,375	5.500%	1,735,000	2,661,750		0
2029	2,661,325	2,661,325	415,663	415,663	5.500%	1,830,000	2,661,325		0
2030	2,660,675	2,660,675	365,338	365,338	5.500%	1,930,000	2,660,675		0
2031	2,659,525	2,659,525	312,263	312,263	5.500%	2,035,000	2,659,525		0
2032	2,657,600	2,657,600	256,300	256,300	5.500%	2,145,000	2,657,600		0
2033	2,659,625	2,659,625	197,313	197,313	5.500%	2,265,000	2,659,625		0
2034	2,660,050	2,660,050	135,025	135,025	5.500%	2,390,000	2,660,050		0
2035	2,658,600	2,658,600	69,300	69,300	5.500%	2,520,000	2,658,600		0
2036	0	0	0	0	5.500%	0	0		0
	68,451,150	68,451,150	16,388,075	16,388,075		35,675,000	68,451,150	0	
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 8-Jan-09 Phone (734) 668-6688 Fax: (734) 668-6723 PRS
$35,675,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$41,802,600
Pedestrian Improvemments	0
Future Development	0
TOTAL CAPITAL COSTS:	$41,802,600
Legal, Financial, Advertising, Etc.	100,912
Bond Discount                   1.50%	535,125
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$42,438,637
Less Construction Fund Earnings	(397,841)
Less General Fund Equity Contribution	0
Less DDA Equity Contribution	(6,365,796)
Less Other	0
AMOUNT OF BOND ISSUE	$35,675,000
Estimated Construction Fund Deposit from Bond Proceeds	$35,038,963
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
	Local	Financing					Fund	Interest	Interest
Date	Expenditures	Costs	Totals	Month	Payout %	Receipts	Balance	Rate	Earned
May 09					Fund Equity	$6,365,796	$6,365,796		
May 09	$1,741,775	$636,037	$2,377,812	1	5.60% Bond Funds	35,675,000	39,662,984	1.00%	$33,052
Jun 09	1,741,775		1,741,775	2	9.71%		37,954,261	1.00%	31,629
Jul 09	1,741,775		1,741,775	3	13.81%		36,244,115	1.00%	30,203
Aug 09	1,741,775		1,741,775	4	17.92%		34,532,543	1.00%	28,777
Sep 09	1,741,775		1,741,775	5 .	22.02%		32,819,545	1.00%	27,350
Oct 09	1,741,775		1,741,775	6	26.12%		31,105,120	1.00%	25,921
Nov 09	1,741,775		1,741,775	7	30.23%		29,389,266	1.00%	24,491
Dec 09	1,741,775		1,741,775	8	34.33%		27,671,982	1.00%	23,060
Jan 10	1,741,775		1,741,775	9	38.44%		25,953,267	1.00%	21,628
Feb 10	1,741,775		1,741,775	10	42.54%		24,233,120	1.00%	20,194
Mar 10	1,741,775		1,741,775	11	46.65%		22,511,539	1.00%	18,760
Apr 10	1,741,775		1,741,775	12	50.75%		20,788,524	1.00%	17,324
May 10	1,741,775		1,741,775	13	54.85%		19,064,072	1.00%	15,887
Jun 10	1,741,775		1,741,775	14	58.96%		17,338,184	1.00%	14,448
Jul 10	1,741,775		1,741,775	15	63.06%		15,610,858	1.00%	13,009
Aug 10	1,741,775		1,741,775	16	67.17%		13,882,092	1.00%	11,568
Sep 10	1,741,775		1,741,775	17	71.27%		12,151,885	1.00%	10,127
Oct 10	1,741,775		1,741,775	18	75.37%		10,420,237	1.00%	8,684
Nov 10	1,741,775		1,741,775	19	79.48%		8,687,145	1.00%	7,239
Dec 10	1,741,775		1,741,775	20	83.58%		6,952,609	1.00%	5,794
Jan 11	1,741,775		1,741,775	21	87.69%		5,216,628	1.00%	4,347
Feb 11	1,741,775		1,741,775	22	91.79%		3,479,200	1.00%	2,899
Mar 11	1,741,775		1,741,775	23	95.90%		1,740,325	1.00%	1,450
Apr 11	1,741,775 .		1,741,775	24	100.00%		(0)	1.00%	(0)
May 11	0		0	25	100.00%		(0)	1.00%	(0)
	$41,802,600	$636,037	$42,438,637			$42,040,796			$397,841
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 1/8/09
Bond Resolutions
Please let me know if you have any further questions.
Page 2 of2
Thank you, Joe
From: Horning, Matthew [mailto:MHorning@a2gov.org]
Sent: Wednesday, January 07, 2009 3:04 PM
To: Joseph Morehouse; paul@stauderbarch.com; Brown, Bowden
Subject: Bond Resolutions
Importance: High
All,
The DDA Board met today and decided to postpone the Council action until the 2nd meeting in February. Despite this, we would still like to complete the resolutions as soon as possible.
It is my understanding that the following items need to be addressed to complete the resolutions:
1. Maximum interest rate for the NOI resolution
2. Term of bonds (20 v. 30-year)
3. Specific structures and improvements that make up the $56.4 million total (pedestrian improvements and future development)
4. Cash flows for improvements and future development (if any)
5. Explanation of FY 10/11 start to repayment schedule
I assume Paul will provide answer to # 1. 1 can make the changes to the NOI resolution. Joe: Can you provide answers to #2-5?
Please let me know if I've neglected any required items to complete these resolutions.
Thanks, Matt
Matthew V. Homing, Treasurer City of Ann Arbor Telephone - (734) 794-6541 Facsimile - (734) 997-1271
4/2/2009
Bond Resolutions
Page 1 of 2
Horning, Matthew
Subject:
Cc:
To:
Sent:
From:
Paul Stauder [paul@stauderbarch.com] Thursday, January 08, 2009 3:38 PM Morehouse, Joseph; Horning, Matthew BBrown@dykema.com RE: Bond Resolutions
Attachments: Library Lot Parking Bond v1.pdf
Attached is a bond sizing worksheet and a 25 year bond repayment schedule for consideration. You will note that there is no principal repaid in 2010 and the first principal payment is slated for 2011 and each year thereafter. Let me know if this is acceptable to the City and DDA.
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates 3989 Research Park Drive Ann Arbor, Michigan 48108 Phone 734-668-6688
Fax 7^368^?
Email paul(5),stauderbarch.com
From: Joseph Morehouse [mailto:JMorehouse@a2dda.org]
Sent: Thursday, January 08, 2009 9:32 AM
To: Horning, Matthew
Cc: Paul Stauder; BBrown@dykema.com
Subject: RE: Bond Resolutions
The DDA has estimated a 20 year bond term, but would not object to 30 years since it looks like we also underestimated the rate of the bonds.
The specific improvements are:
• A 777 space 4 story underground parking structure
• A new street on the North side of the Ann Arbor Public Library going from Fifth Avenue to Division Street
• A new alley that extends from Fifth Avenue on the northern border of the current parking lot to the new street being created next to the Library
• New utility improvements under Division Street
• The ability of the new parking structure to have up to a25 story building built on top of it
The cash flows for the new parking structure are contained in the 10-year plan that I have attached to this email since the debt repayment for this project is from the entire parking system. I do not have any estimates of TIF capture from future development since we have not even begun planning for what that development might be and even whether it would be public or privately owned.
I had estimated the payment beginning in FY 2011, but could I have move those payments up to FY 2010 on the 10-year plan attached.
Matt,
4/2/2009
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$48,050,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	25.79%	74.21%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	5.500%	0	0		0
2010	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2011	924,102	2,658,648	3,582,750	1,321,375	1,321,375	5.500%	940,000	3,582,750	0	0
2012	923,664	2,657,386	3,581,050	1,295,525	1,295,525	5.500%	990,000	3,581,050	0	0
2013	923,806	2,657,794	3,581,600	1,268,300	1,268,300	5.500%	1,045,000	3,581,600		0
2014	924,457	2,659,668	3,584,125	1,239,563	1,239,563	5.500%	1,105,000	3,584,125		0
2015	924,257	2,659,093	3,583,350	1,209,175	1,209,175	5.500%	1,165,000	3,583,350		0
2016	924,496	2,659,779	3,584,275	1,177,138	1,177,138	5.500%	1,230,000	3,584,275		0
2017	923,812	2,657,813	3,581,625	1,143,313	1,143,313	5.500%	1,295,000	3,581,625		0
2018	923,496	2,656,904	3,580,400	1,107,700	1,107,700	5.500%	1,365,000	3,580,400		0
2019	923,477	2,656,848	3,580,325	1,070,163	1,070,163	5.500%	1,440,000	3,580,325		0
2020	923,683	2,657,442	3,581,125	1,030,563	1,030,563	5.500%	1,520,000	3,581,125		0
2021	924,044	2,658,481	3,582,525	988,763	988,763	5.500%	1,605,000	3,582,525		0
2022	924,489	2,659.761	3,584,250	944,625	944,625	5.500%	1,695,000	3,584,250		0
2023	923,657	2,657,368	3,581,025	898,013	898,013	5.500%	1,785,000	3,581,025		0
2024	924,128	2,658,722	3,582,850	848,925	848,925	5.500%	1,885,000	3,582,850		0
2025	924,470	2,659,705	3,584,175	797,088	797,088	5.500%	1,990,000	3,584,175		0
2026	923,322	2,656,403	3,579,725	742,363	742,363	5.500%	2,095,000	3,579,725		0
2027	923,264	2,656,236	3,579,500	684,750	684.750	5.500%	2,210,000	3,579,500		0
2028	924,154	2,658,796	3,582,950	623,975	623,975	5.500%	2,335,000	3,582,950		0
2029	923,271	2,656,254	3,579,525	559,763	559,763	5.500%	2,460,000	3,579,525		0
2030	924,483	2,659,742	3,584,225	492,113	492,113	5.500%	2,600,000	3,584,225		0
2031	923,709	2,657,516	3,581,225	420,613	420,613	5.500%	2,740,000	3,581,225		0
2032	923,529	2,656,996	3,580,525	345,263	345,263	5.500%	2,890,000	3,580,525		0
2033	923,799	2,657,776	3,58f,575	265,788	265,788	5.500%	3,050,000	3,581,575		0
2034	924,380	2,659,445	3,583,825	181,913	181,913	5.500%	3,220,000	3,583,825		0
2035	923,838	2,657,887	3,581,725	93,363	93,363	5.500%	3,395,000	3,581,725		0
2036	0	0	0	0	0	5.500%	0	0		0
	23,779,436	68,413,564	92,193,000	22,071,500	22,071,500		48,050,000	92,193,000	0	
[1] Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 9-Jan-09 Phone (734) 668-6688 Fax: (734) 668-6723 PRS
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$41,802,600
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$56,332,500
Legal, Financial, Advertising, Etc.	106,896
Bond Discount                      1.50%	720,750
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$57,160,146
Less Construction Fund Earnings	(536,124)
Less DDA Equity Contribution	(8,574,022)
Less Other	0
AMOUNT OF BOND ISSUE	$48,050,000
Estimated Construction Fund Deposit from Bond Proceeds	$47,222,354
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
Date	Local Expenditures	Financing Costs	Totals	Month	Payout %		Receipts	Fund Balance	Interest Rate	Interest Earned
May 09						Fund Equity	$8,574,022	$8,574,022		
May 09	$2,347,188	$827,646	$3,174,834	1	5.55%	Bond Funds	48,050,000	53,449,188	1.00%	$44,541
Jun 09	2,347,188		2,347,188	2	9.66%			51,146,542	1.00%	42,622
Jul 09	2,347,188		2,347,188	3	13.77%			48,841,976	1.00%	40,702
Aug 09	2,347,188		2,347,188	4	17.87%			46,535,490	1.00%	38,780
Sep 09	2,347,188		2,347,188	5	21.98%			44,227,082	1.00%	36,856
Oct 09	2,347,188		2,347,188	6	26.09%			41,916,751	1.00%	34,931
Nov 09	2,347,188		2,347,188	7	30.19%			39,604,494	1.00%	33,004
Dec 09	2,347,188		2,347,188	8	34.30%			37,290,310	1.00%	31,075
Jan 10	2,347,188		2,347,188	9	38.40%			34,974,198	1.00%	29,145
Feb 10	2,347,188		2,347,188	10	42.51%			32,656,156	1.00%	27,213
Mar 10	2,347,188		2,347,188	11	46.62%			30,336,182	1.00%	25,280
Apr 10	2,347,188		2,347,188	12	50.72%			28,014,274	1.00%	23,345
May 10	2,347,188		2,347,188	13	54.83%			25,690,432	1.00%	21,409
Jun 10	2,347,188		2,347,188	14	58.94%			23,364,653	1.00%	19,471
Jul 10	2,347,188		2,347,188	15	63.04%			21,036,936	1.00%	17,531
Aug 10	2,347,188		2,347,188	16	67.15%			18,707,280	1.00%	15,589
Sep 10	2,347,188		2,347,188	17	71.26%			16,375,681	1.00%	13,646
Oct 10	2,347,188		2,347,188	18	75.36%			14,042,140	1.00%	11,702
Nov 10	2,347,188		2,347,188	19	79.47%			11,706,655	1.00%	9,756
Dec 10	2,347,188		2,347,188	20	83.57%			9,369,223	1.00%	7,808
Jan 11	2,347,188		2,347,188	21	87.68%			7,029,843	1.00%	5,858
Feb 11	2,347,188		2,347,188	22	91.79%			4,688,514	1.00%	3,907
Mar 11	2,347,188		2,347,188	23	95.89%			2,345,233	1.00%	1,954
Apr 11	2,347,188		2,347,188	24	100.00%			(0)	1.00%	(0)
May 11	0		0	25	100.00%			(0)	1.00%	(0)
	$56,332,500	$827,646	$57,160,146				$56,624,022			$536,124
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 1/9/09
Bond Resolutions '
Joe: Can you provide answers to #2-5?
Page 3 of 3
Please let me know if I've neglected any required items to complete these resolutions.
Thanks, Matt
Matthew V. Horning, Treasurer City of Ann Arbor Telephone - (734) 794-6541 Facsimile - (734) 997-1271
4/2/2009
Bond Resolutions
Page 2 of 3
From: Joseph Morehouse [mailto:JMorehouse@a2dda.org]
Sent: Thursday, January 08, 2009 9:32 AM
To: Horning, Matthew
Cc: Paul Stauder; BBrown@dykema.com
Subject: RE: Bond Resolutions
Matt,
The DDA has estimated a 20 year bond term, but would not object to 30 years since it looks like we also underestimated the rate of the bonds.
The specific improvements are:
• A 777 space 4 story underground parking structure
• A new street on the North side of the Ann Arbor Public Library going from Fifth Avenue to Division Street
• A new alley that extends from Fifth Avenue on the northern border of the current parking lot to the new street being created next to the Library
• New utility improvements under Division Street
• The ability of the new parking structure to have up to a25 story building built on top of it
The cash flows for the new parking structure are contained in the 10-year plan that I have attached to this email since the debt repayment for this project is from the entire parking system. I do not have any estimates of TIF capture from future development since we have not even begun planning for what that development might be and even whether it would be public or privately owned.
I had estimated the payment beginning in FY 2011, but could I have move those payments up to FY 2010 on the 10-year plan attached.
Please let me know if you have any further questions. Thank you, Joe
From: Homing, Matthew [mailto:MHorning@a2gov.org]
Sent: Wednesday, January 07, 2009 3:04 PM
To: Joseph Morehouse; paul@stauderbarch.com; Brown, Bowden
Subject: Bond Resolutions
Importance: High
All,
The DDA Board met today and decided to postpone the Council action until the 2nd meeting in February. Despite this, we would still like to complete the resolutions as soon as possible.
It is my understanding that the following items need to be addressed to complete the resolutions:
1. Maximum interest rate for the NOI resolution
2. Term of bonds (20 v. 30-year)
3. Specific structures and improvements that make up the $56.4 million total (pedestrian improvements and future development)
4. Cash flows for improvements and future development (if any)
5. Explanation of FY 10/11 start to repayment schedule
I assume Paul will provide answer to #1. I can make the changes to the NOI resolution. 4/2/2009
Bond Resolutions
Page 1 of 3
Horning, Matthew
Subject:
To:
Cc:
From:
Sent:
Paul Stauder [paul@stauderbarch.com] Friday, January 09, 2009 10:09 AM Morehouse, Joseph; Horning, Matthew BBrown@dykema.com RE: Bond Resolutions
Importance: High
Attachments: Library Lot Parking Bond v2.pdf
Matt and Joe - The attached reflects bonding for all of the projects this Spring in a single bond issue as described by Joe this morning.
Bowden - What more do you need from me at this point? Do you want full bond specifications?
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell 734-646-5485
Fax 734-668-6723
Email paul@stauderbarch.com
From: Paul Stauder [mailto:paul@stauderbarch.com] Sent: Thursday, January 08, 2009 1:53 PM To: 'Joseph Morehouse'; 'Homing, Matthew' Cc: 'BBrown@dykema.com' Subject: RE: Bond Resolutions
The first analysis on the underground parking had bond payments at $2,851,000 based on 20 year bonds at 5%. Now you show 30 year bonds at 5.5% so payments drop to $2,445,000. (Rates are pretty difficult to predict right now. Things are improving but we don't know where they'll settle in or if the might even go higher) While 30 year bonds are probably doable, they are a bit tougher sell in the current market and rates are a fair bit higher in the 20 to 30 year range. May I suggest a 25 year bond? The payments would be about $2,660,000 based on the 5.5% rate.
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell 734-646-5485
Fax 734-668-6723
Email paul@stauderbarch.com
Joe,
4/2/2009
Page 1 of2
Horning, Matthew
From: Paul Stauder [paul@stauderbarch.com]
Sent: Monday, January 19, 2009 11:30 AM
To: Morehouse, Joseph; Horning, Matthew
Cc: Crawford, Tom
Subject:       RE: Underground Parking Structure
Attachments: Library Lot Parking Bond v3.pdf; Library Lot Parking Bond v4.pdf
Joe,
Attached is the bond amortization with the latest legally permissible start of principal repayment (v3). This isn't much different than the last one I sent except that the 2014 principal payment has been removed.
Let me know which structure you opt for.
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell MHM»>
Fax 734-668-6723
Email paul@stauderbarch.com
From: Paul Stauder
Sent: Friday, January 16, 2009 12:19 PM
To: 'JMorehouse@a2dda.org'; 'Matthew Horning'
Cc: Thomas Crawford'
Subject: Underground Parking Structure
Joe and Matt,
Attached is a revised bond repayment schedule (requested by Joe) with a little more deferral of principal repayment than the prior version. The principal repayment begins one year later and ramps up to full payment requirement two years later.
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates
4/2/2009
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell 734-646-5485
Fax 734-668-6723
Email paul@stauderbarch.com
4/2/2009
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$41,802,600
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$56,332,500
Legal, Financial, Advertising, Etc.	106,896
Bond Discount                   1.50%	720,750
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$57,160,146
Less Construction Fund Earnings	(536,124)
Less DDA Equity Contribution	(8,574,022)
Less Other	0
AMOUNT OF BOND ISSUE	$48,050,000
Estimated Construction Fund Deposit from Bond Proceeds	$47,222,354
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
	Local	Financing					Fund	Interest	Interest
Date	Expenditures	Costs	Totals	Month	Payout %	Receipts	Balance	Rate	Earned
May 09					Fund Equity	$8,574,022	$8,574,022		
May 09	$2,347,188	$827,646	$3,174,834	1	5.55% Bond Funds	48,050,000	53,449,188	1.00%	$44,541
Jun 09	2,347,188		2,347,188	2	9.66%		51,146,542	1.00%	42,622
Jul 09	2,347,188		2,347,188	3	13.77%		48,841,976	1.00%	40,702
Aug 09	2,347,188		2,347,188	4	17.87%		46,535,490	1.00%	38,780
Sep 09	2,347,188		2,347,188	5	21.98%		44,227,082	1.00%	36,856
Oct 09	2,347,188		2,347,188	6	26.09%		41,916,751	1.00%	34,931
Nov 09	2,347,188		2,347,188	7	30.19%		39,604,494	1.00%	33,004
Dec 09	2,347,188		2,347,188	8	34.30%		37,290,310	1.00%	31,075
Jan 10	2,347,188		2,347,188	9	38.40%		34,974,198	1.00%	29,145
Feb 10	2,347,188		2,347,188	10	42.51%		32,656,156	1.00%	27,213
Mar 10	2,347,188		2,347,188	11	46.62%		30,336,182	1.00%	25,280
Apr 10	2,347,188		2,347,188	12	50.72%		28,014,274	1.00%	23,345
May 10	2,347,188		2,347,188	13	54.83%		25,690,432	1.00%	21,409
Jun 10	2,347,188		2,347,188	14	58.94%		23,364,653	1.00%	19,471
Jul 10	2,347,188		2,347,188	15	63.04%		21,036,936	1.00%	17,531
Aug 10	2,347,188		2,347,188	16	67.15%		18,707,280	1.00%	15,589
Sep 10	2,347,188		2,347,188	17	71.26%		16,375,681	1.00%	13,646
Oct 10	2,347,188		2,347,188	18	75.36%		14,042,140	1.00%	11,702
Nov 10	2,347,188		2,347,188	19	79.47%		11,706,655	1.00%	9.756
Dec 10	2,347,188		2,347,188	20	83.57%		9,369,223	1.00%	7,808
Jan 11	2,347,188		2,347,188	21	87.68%		7,029,843	1.00%	5,858
Feb 11	2,347,188		2,347,188	22	91.79%		4,688,514	1.00%	3,907
Mar 11	2,347,188		2,347,188	23	95.89%		2,345,233	1.00%	1,954
Apr 11	2,347,188		2,347,188	24	100.00%		(0)	1.00%	(0)
May 11	0		0	25	100.00%		(0)	1.00%	(0)
	$56,332,500	$827,646	$57,160,146			$56,624,022			$536,124
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 1/19/09
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$48,050,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	25.79%	74.21%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	5.500%	0	0		0
2010	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2011	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2012	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2013	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750		0
2014	984,716	2,833,034	3,817,750	1,321,375	1,321,375	5.500%	1,175,000	3,817,750		0
2015	984,813	2,833,312	3,818,125	1,289,063	1,289,063	5.500%	1,240,000	3,818,125		0
2016	985,277	2,834,648	3,819,925	1,254,963	1,254,963	5.500%	1,310,000	3,819,925		0
2017	984,748	2,833,127	3,817,875	1,218,938	1,218,938	5.500%	1,380,000	3,817,875		0
2018	984,516	2,832,459	3,816,975	1,180,988	1,180,988	5.500%	1,455,000	3,816,975		0
2019	984,510	2,832,440	3.816.S50	1,140,975	1,140,975	5.500%	1,535,000	3,816,950		0
2020	984,658	2,832,867	3,817,525	1,098,763	1,098,763	5.500%	1,620,000	3,817,525		0
2021	984,890	2,833,535	3,818,425	1,054,213	1,054,213	5.500%	1,710,000	3,818,425		0
2022	985,135	2,834,240	3,819,375	1,007,188	1,007,188	5.500%	1,805,000	3,819,375		0
2023	985,322	2,834,778	3,820,100	957,550	957,550	5.500%	1,905,000	3,820,100		0
2024	985,380	2,834,945	3,820,325	905,163	905,163	5.500%	2,010,000	3,820,325		0
2025	985,239	2,834,536	3,819,775	849,888	849,888	5.500%	2,120,000	3,819,775		0
2026	984,826	2,833,349	3,818,175	791,588	791,588	5.500%	2,235,000	3,818,175		0
2027	985,361	2,834,889	3,820,250	730,125	730,125	5.500%	2,360,000	3,820,250		0
2028	985,413	2,835,037	3,820,450	665,225	665,225	5.500%	2,490,000	3,820,450		0
2029	984,910	2,833,590	3,818,500	596,750	596,750	5.500%	2,625,000	3,818,500		0
2030	985,071	2,834,054	3,819,125	524,563	524,563	5.500%	2,770,000	3,819,125		0
2031	984,465	2,832,310	3,816,775	448,388	448,388	5.500%	2,920,000	3,816,775		0
2032	985,600	2,835,575	3,821,175	368,088	368,088	5.500%	3,085,000	3,821,175		0
2033	984,394	2,832,106	3,816,500	283,250	283,250	5.500%	3,250,000	3,816,500		0
2034	984,716	2,833,034	3,817,750	193,875	193,875	5.500%	3,430,000	3,817,750		0
2035	985,064	2,834,036	3,819,100	99,550	99,550	5.500%	3,620,000	3,819,100		0
2036	0	0	0	0	0	5.500%	0	0		0
	24,395,614	70,186,311	94,581,925	23,265,963	23,265,963		48,050,000	94,581,925	0	
[1] Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 19-Jan-09 Phone (734) 668-6688 Fax: (734) 668-6723 PRS
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$41,802,600
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$56,332,500
Legal, Financial, Advertising, Etc.	106,896
Bond Discount 1.50%	720,750
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$57,160,146
Less Construction Fund Earnings	(536,124)
Less DDA Equity Contribution	(8,574,022)
Less Other	0
AMOUNT OF BOND ISSUE	$48,050,000
Estimated Construction Fund Deposit from Bond Proceeds	$47,222,354
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
	Local	Financing						Fund	Interest	Interest
Date	Expenditures	Costs	Totals	Month	Payout %		Receipts	Balance	Rate	Earned
May 09						Fund Equity	$8,574,022	$8,574,022		
May 09	$2,347,188	$827,646	$3,174,834	1	5.55%	Bond Funds	48,050,000	53,449,188	1.00%	$44,541
Jun 09	2,347,188		2,347,188	2	9.66%			51,146,542	1.00%	42,622
Jul 09	2,347,188		2,347,188	3	13.77%			48,841,976	1.00%	40,702
Aug 09	2,347,188		2,347,188	4	17.87%			46,535,490	1.00%	38,780
Sep 09	2,347,188		2,347,188	5	21.98%			44,227,082	1.00%	36,856
Oct 09	2,347,188		2,347,188	6	26.09%			41,916,751	1.00%	34,931
Nov 09	2,347,188		2,347,188	7	30.19%			39,604,494	1.00%	33,004
Dec 09	2,347,188		2,347,188	8	34.30%			37,290,310	1.00%	31,075
Jan 10	2,347,168		2,347,188	9	38.40%			34,974,198	1.00%	29,145
Feb 10	2,347,188		2,347,188	10	42.51%			32,656,156	1.00%	27,213
Mar 10	2,347,188		2,347,188	11	46.62%			30,336,182	1.00%	25,280
Apr 10	2,347,188		2,347,188	12	50.72%			28,014,274	1.00%	23,345
May 10	2,347,188		2,347,188	13	54.83%			25,690,432	1.00%	21,409
Jun 10	2,347,188		2,347,188	14	58.94%			23,364,653	1.00%	19,471
Jul 10	2,347,188		2,347,188	15	63.04%			21,036,936	1.00%	17,531
Aug 10	2,347,188		2,347,188	16	67.15%			18,707,280	1.00%	15,589
Sep 10	2,347,188		2,347,188	17	71.26%			16,375,681	1.00%	13,646
Oct 10	2,347,188		2,347,188	18	75.36%			14,042,140	1.00%	11,702
Nov 10	2,347,188		2,347,188	19	79.47%			11,706,655	1.00%	9,756
Dec 10	2,347,188		2,347,188	20	83.57%			9,369,223	1.00%	7,808
Jan 11	2,347,188		2,347,188	21	87.68%			7,029,843	1.00%	5,858
Feb 11	2,347,188		2,347,188	22	91.79%			4,688,514	1.00%	3,907
Mar 11	2,347,188		2,347,188	23	95.89%			2,345,233	1.00%	1,954
Apr 11	2,347,188		2,347,188	24	100.00%			(0)	1.00%	(0)
May 11	0		0	25	100.00%			(0)	1.00%	(0)
	$56,332,500	$827,646	$57,160,146				$56,624,022			$536,124
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 1/19/09
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$48,050,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	25.79%	74.21%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	5.500%	0	0		0
2010	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2011	797,716	2,295,034	3,092,750	1,321,375	1,321,375	5.500%	450,000	3,092,750	0	0
2012	810,677	2,332,323	3,143,000	1,309,000	1,309,000	5.500%	525,000	3,143,000	0	0
2013	822,574	2,366,551	3,189,125	1,294,563	1,294,563	5.500%	600,000	3,189,125		0
2014	833,407	2,397,718	3,231,125	1,278,063	1,278,063	5.500%	675,000	3,231,125		0
2015	843,177	2,425,823	3,269,000	1,259,500	1,259,500	5.500%	750,000	3,269,000		0
2016	851,882	2,450,868	3,302,750	1,238,875	1,238,875	5.500%	825,000	3,302,750		0
2017	859,523	2,472,852	3,332,375	1,216,188	1,216,188	5.500%	900,000	3,332,375		0
2018	993,776	2,859,099	3,852,875	1,191,438	1,191,438	5.500%	1,470,000	3,852,875		0
2019	993,557	2,858,468	3,852,025	1,151,013	1,151,013	5.500%	1,550,000	3,852,025		0
2020	993,492	2,858,283	3,851,775	1,108,388	1,108,388	5.500%	1,635,000	3,851,775		0
2021	993,512	2,858,338	3,851,850	1,063,425	1,063,425	5.500%	1,725,000	3,851,850		0
2022	993,544	2,858,431	3,851,975	1,015,988	1,015,988	5.500%	1,820,000	3,851,975		0
2023	993,518	2,858,357	3,851,875	965,938	965,938	5.500%	1,920,000	3,851,875		0
2024	993,363	2,857,912	3,851,275	913,138	913,138	5.500%	2,025,000	3,851,275		0
2025	994,298	2,860,602	3,854,900	857,450	857,450	5.500%	2,140,000	3,854,900		0
2026	993,602	2,858,598	3,852,200	798,600	798,600	5.500%	2,255,000	3,852,200		0
2027	993,853	2,859,322	3,853,175	736,588	736,588	5.500%	2,380,000	3,853,175		0
2028	993,621	2,858,654	3,852,275	671,138	671,138	5.500%	2,510,000	3,852,275		0
2029	994,124	2,860,101	3,854,225	602,113	602,113	5.500%	2,650,000	3,854,225		0
2030	993,931	2,859,544	3,853,475	529,238	529,238	5.500%	2,795,000	3,853,475		0
2031	994,260	2,860,490	3,854,750	452,375	452,375	5.500%	2,950,000	3,854,750		0
2032	993,679	2,858,821	3,852,500	371,250	371,250	5.500%	3,110,000	3,852,500		0
2033	993,408	2,858,042	3,851,450	285,725	285,725	5.500%	3,280,000	3,851,450		0
2034	993,305	2,857,745	3,851,050	195,525	195,525	5.500%	3,460,000	3,851,050		0
2035	993,228	2,857,522	3,850,750	100,375	100,375	5.500%	3,650,000	3,850,750		0
2036	0	0	0	0	0	5.500%	0	0		0
	24,386,676	70,160,599	94,547,275	23,248,638	23,248,638		48,050,000	94,547,275	0	
[1]  Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 19-Jan-09 Phone (734) 668-6688 Fax:(734) 668-6723 PRS
Page 1 of 1
Horning, Matthew
Subject:
Cc:
To:
Sent:
From:
Paul Stauder [paul@stauderbarch.com] Friday, January 16, 2009 12:19 PM Morehouse, Joseph; Horning, Matthew Crawford, Tom
Underground Parking Structure
Attachments: Library Lot Parking Bond v2.pdf Joe and Matt,
Attached is a revised bond repayment schedule (requested by Joe) with a little more deferral of principal repayment than the prior version. The principal repayment begins one year later and ramps up to full payment requirement two years later.
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates 3989 Research Park Drive Ann Arbor, Michigan 48108 Phone^4-66^jj6&B^
Fax 734-668-6723
Email paul@stauderbarch.com
4/2/2009
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$48,050,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	25.79%	74.21%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	5.500%	0	0		0
2010	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2011	681,647	1,961,103	2,642,750	1,321,375	1,321,375	5.500%	0	2,642,750	0	0
2012	819,640	2,358,110	3,177,750	1,321,375	1,321,375	5.500%	535,000	3,177,750	0	0
2013	951,333	2,736,992	3,688,325	1,306,663	1,306,663	5.500%	1,075,000	3,688,325		0
2014	951,559	2,737,641	3,689,200	1,277,100	1,277,100	5.500%	1,135,000	3,689,200		0
2015	952,223	2,739,552	3,691,775	1,245,888	1,245,888	5.500%	1,200,000	3,691,775		0
2016	951,965	2,738,810	3,690,775	1,212,888	1,212,888	5.500%	1,265,000	3,690,775		0
2017	952,075	2,739,125	3,691,200	1,178,100	1,178,100	5.500%	1,335,000	3,691,200		0
2018	951,192	2,736,583	3,687,775	1,141,388	1,141,388	5.500%	1,405,000	3,687,775		0
2019	951,894	2,738,606	3,690,500	1,102,750	1,102,750	5.500%	1,485,000	3,690,500		0
2020	951,462	2,737,363	3,688,825	1,061,913	1,061,913	5.500%	1,565,000	3,688,825		0
2021	952,475	2,740,275	3,692,750	1,018,875	1,018,875	5.500%	1,655,000	3,692,750		0
2022	952,210	2,739,515	3,691,725	973,363	973,363	5.500%	1,745,000	3,691,725		0
2023	951,959	2,738,791	3,690,750	925,375	925,375	5.500%	1,840,000	3,690,750		0
2024	951,649	2,737,901	3,689,550	874,775	874,775	5.500%	1,940,000	3,689,550		0
2025	952,501	2,740,349	3,692,850	821,425	821,425	5.500%	2,050,000	3,692,850		0
2026	951,791	2,738,309	3,690,100	765,050	765,050	5.500%	2,160,000	3,690,100		0
2027	952,101	2,739,199	3,691,300	705,650	705,650	5.500%	2,280,000	3,691,300		0
2028	951,998	2,738,902	3,690,900	642,950	642,950	5.500%	2,405,000	3,690,900		0
2029	951,411	2,737,214	3,688,625	576,813	576,813	5.500%	2,535,000	3,688,625		0
2030	951,559	2,737,641	3,689,200	507,100	507,100	5.500%	2,675,000	3,689,200		0
2031	952,301	2,739,774	3,692,075	433,538	433,538	5.500%	2,825,000	3,692,075		0
2032	952,204	2,739,496	3,691,700	355,850	355,850	5.500%	2,980,000	3,691,700		0
2033	952,488	2,740,312	3,692,800	273,900	273,900	5.500%	3,145,000	3,692,800		0
2034	951,720	2,738,105	3,689,825	187,413	187,413	5.500%	3,315,000	3,689,825		0
2035	952,410	2,740,090	3,692,500	96,250	96,250	5.500%	3,500,000	3,692,500		0
2036	0	0	0	0	0	5.500%	0	0		0
	24,077,417	69,270,858	93,348,275	22,649,138	22,649,138		48,050,000	93,348,275	0	
[1] Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 16-Jan-09 Phone (734) 668-6688 Fax:(734)668-6723 PRS
RESOLUTION REQUESTING FINANCIAL INFORMATION FROM THE DOWNTOWN DEVELOPMENT AUTHORITY
WHEREAS, the City has fiduciary responsibility for any bonds issued for Downtown Development Authority ("DDA") projects;
WHEREAS, the City Council is committed to continuing its positive working relationship with the DDA to ensure the DDA's financial stability;
THEREFORE, BE IT RESOLVED, that the City Council requests that the DDA provide the City Council with a financial plan to increase revenue and/or defer projects to ensure adequate contingencies and fund balances for fiscal years 2010 and 2011, and that the proposals may include, but are not limited to, (1) increases in parking rates for high-demand parking facilites, (2) increases in fees for "bagging" parking meters, and/or (3) deferring scheduled capital projects.
Submitted by: Councilmembers Leigh Greden, Margie Teall, and Marcia Higgins Date: February 17, 2009
Community Parking Rate Data current 2008
	Arbor, Ml	Lnnsing, * \flf *	Ji{> %  „Royal* t Lansing,   Oak, Ml		AGrand Rapids	Kalamazoo, ' Ml	, Traverse Cit/, Ml	Madison; vvF	Bloomington,	Lincoln, Nfr	Minneapolis, MN
			Ml		Ml						
2000	114,024	119,128	46,525	60,062	197,800	238,603	14,532	208,054	69,291	225,581	382,618
population											
STRUCTURES	$0.80	$2.00	$1.00 -	$0.50	$2.00	$1.10	$0.50/hr	$0.70 -	$0.50	$1.00	$2.00 - $4.00
Hourly		First % hr free $8.50 Max	$1.30	First 2 hrs free $3 flat rate after 5pm	Daily max $5.75 -$10		for first 2 hrs $0.40/hr thereafter Daily max $4.00	$1.20			Daily max: $5.00-$15.00
STRUCTURES	$125	$72-	$75-$80	$35-	$112.75-	$74-$ 104	$30 - $33	$100-	$56.25	$50-	$117.50-
Permits		$103		$40	142.50			$133		$75	$268
Monthly	Reserved $175	Reserved $137-$140					$360 annual $100 quarterly	Resident $117-$156 Non-Resident			Reserved $144-$220 (not avail. For all structures)
PARKING	N/A	$20-$79	$60-$70	N/A	$24.50 -	$41 - $64	$24.17	$75-$80	$45.83	$45-	N/A
LOTS					$65.25			Resident		$55	
Permits							$290				
Monthly					Monroe Place Lot $118.25		annual	$85-$86 Non-Resident			
PARKING	$1.00		$1.10-	$0.50 -	Primarily	$0.80 -	N/A	$0.50-	$0.50	$1.00	Daily $7.50
LOTS	First 3		$1.20	$0.75	Daily	$2.00		$1.10			
Hourly	hours, $1.10/hr thereafter			High Demand $.25-$.50 Lower Demand	($2-$6) Or Event ($4-$8)	$3.40 daily max				$5.00 daily max	
METERS	$1.00		$1.00	$0.50 -	$1.25 -	$1.25-	$0.60	$0.50-	$0.50-$1.00	$0.50	$0.25 - $2.00
Hourly	Off-site lOhr meters $0.50/hr			$0.75	$1.75	$1.75		$1.25	Short Term (2-4 hr) $0.50 Long term(12 hr)		
Crawford, Tom
From: Paul Stauder [paul@stauderbarch.com]
Sent: Thursday, February 12, 2009 4:32 PM
To: Morehouse, Joseph
Cc: Crawford, Tom; Horning, Matthew
Subject:        DDA Bonds
Attachments: Library Lot Parking Bond v12.pdf; Library Lot Parking Bond v13.pdf Joe,
I assigned the added payments to the TIF obligation. Correct?
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell^^pBMB
Fax 734-668-6723
Email pay!@stauderbarch.com
4/10/2009
? TIF Fund Balance ($8) ] ¦ Parking Fund Balance
? Housing Fund Balance ($10)    ? Parking Capital Imp. Fund
HTIF Maint Reserve
Fiscal Years
2-4-08 (2).xls
Notes to 10 Year Plan
Note 1      TIF Administrative Expenses
Actual through FY 2006/07, estimated at   4.00% increases thereafter. Administration Expenses include:
- Salaries and Fringe Benefits
- Office, Insurance, Legal and General Expenses
Note 2     TIF Capital Expenses
This figure has been the cost of improvements to the alleys and sidewalks.
Note 3      Transfers to Other Funds
The DDA has three annual interfund transfers by Board Resolution they are: From TIF to TIF Maintenance $420,000 From TIF to Housing $200,000 From Parking to Parking Maintenance $1,162,135
Total $1,782,135
Note 4     Grants to Other Agencies
This line is for DDA grants to other organizations which benefit the downtown district. Past grants have been made to the four Merchant area associations, the Get Downtown Program and the Neutral Zone. These grants are usually budgeted, but can be approved during the year on an as needed basis by the Board.
Note 5      Transfer to Bond Fund
This line represents the 15% down payment needed to bond capital projects through the City of Ann Arbor.
Note 6 Interest
The interest earned is calculated by multiplying the previous years fund balance by 3.00%
Note 7     Parking Administrative Expenses
Actual through FY 2004/05, estimated at   4.00% increases thereafter. Administration Expenses include:
- Salaries and Fringe Benefits
- Payments to parking contractor for Operation and Staffing of the parking facilities
- Rent and utilities for the parking facilities
- Office, insurance, legal and general expenses
- Engineering consultations for non capital projects.
Note 8      Grants to Other Agencies
This line is for DDA grants to other organizations which affect the parking demand.
Examples of this are the grants to the Go Pass and the 3 year commitment to the North South Railroad.
Note 9     Parking Structure Maintenance Reserve
The Capital Improvement contributions are calculated on the average yearly cost of maintaining
the parking facilites through 2022 as reported on the Carl Walker report dated January, 2007 (Page 7.)
Note 10    Housing Fund Grants and Gifts
This line contains actual and projected grants from the DDA to housing related projects located in the DDA district. The current amounts represent a $1,708,861 commitment to the City of Ann Arbor to help pay the loan taken out to purchase the YMCA site. The DDA has committed $400K to the 1st & Washington with "work force" housing using this fund.
Downtown Development Authority Project List-Cash Only
TIF (From DDA Capital Imp. Committee) 2006-07        2007-08        2008-09        2009-10      2010-2011     2011-2012     2012-2013   2013-2014 2014-2015 Project
Tree Maintenance $100,000
Alleys $700,000
Sculpture Plaza $300,000
Brick & Tree Repair $200,000
Miscellaneous projects $0               $0 $0
Total $1,300,000                $0             $0                $0             $15                $0 $0 $0 $6~
Parking (From 2007 Carl Walker Report) 2006-07 2007-08 2008-09 2009-10 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 Facility:
Fourth & Washington $161,129 $477,090
Liberty Square $720,899 $1,373,166 $1,711,830
Ann & Ashley $248,400                                                          $1,440,180 $2,185,130
Maynard $268,650                                                                             $2,103,638 $1,222,533
Fourth & William $1,300,064 $2,366,288
Forest $253,098 $734,886
1st & Washington Demolition
Less Bonded Projects
General Maintenance $300,000        $309,000     $318,000        $327,000     $336,000        $345,000     $354,000     $363,000     $372,000     $381,000     $390,000 $399,000
Total Yearly Costs $817,050      $1,029,899   $1,618,064        $741,227   $1,776,180     $2,448,638   $1,727,166  $2,729,288   $1,583,976  $2,566,130   $1,612,533 $2,110,830
DDA -10 Year Plan Bond Payment Schedule
			Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated	Estimated
		Bond	2006/07	2007/08	FY 2008-09	FY 2009/10	FY 2010/11	FY 2011/12	FY 2012/13	FY 2013/14	FY 2014/15	FY 2015/16	FY 2016/17	FY 2017/18
Year	Project	Amount												
Category 1. Bonds Paid from TIF Revenue														
1992	Ped. Imp	$3,750,000	$394,250	$376,750	$359,000									
1998	Ped. Imp Refund	$1,885,000	$336,642	$326,933	$321,397									
2002	State Street Bond	$4,925,000	$569,165	$609,835	$627,335	$648,075	$660,650	$676,250						
2009/10	5th & Division & Wayfinding	$8,200,000	$0			$338,250	$338,250	$693,521	$693,521	$693,521	$693,521	$693,521	$693,521	$693,521
2010/11	mg Structure Pedestrian Improver	$7,838,044				$434,063	$434,063	$519,808	$606,141	$606,141	$606,490	$606,256	$606,322	$606,640
2010/11	Future Development	$4,478,883				$248,036	$248,036	$297,033	$346,366	$346,366	$346,566	$346,432	$346,470	$346,652
2009/10	City Hall	$8,200,000	$0	$0	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557	$506,557
		$39,276,927	$1,300,057	$1,313,518	$1,814,289	$2,174,982	$2,187,557	$2,693,170	$2,152,585	$2,152,585	$2,153,134	$2,152,766	$2,152,870	$2,153,370
Category 2. Bonds Paid from Parking Revenue														
1998	4th & Washington & Refund	$10,100,000	$1,165,916	$883,716	$577,216	$590,604	$592,546	$593,320	$592,829	$591,110	$593,075	$593,663	$588,238	
1998	DDA Bond Refund	$2,155,000	$384,838	$373,739	$367,497									
1999	Maynard-4th & Wash	$9,040,000	$336,013	$473,225	$603,038									
2000	Forest	$10,500,000	$518,425	$545,600	$545,025	$533,075								
2002	4th & Williams	$3,600,000	$272,138	$277,848	$282,808	$282,108	$280,908	$284,348	$287,123	$284,203	$285,878	$286,908	$287,273	$287,060
2005	Re. of 4th & Wash+Maynard	$13,305,000	$627,500	$627,500	$627,500	$1,227,500	$1,758,500	$1,757,300	$1,754,300	$1,732,050	$1,697,800	$1,687,050	$1,653,550	$1,618,300
2007	4th & William Addition	$4,250,000		$235,521	$346,875	$344,988	$342,863	$345,500	$342,663	$344,588	$346,038	$347,013	$342,513	$342,775
2008/09	First & Washington	$7,650,000		$0	$0	$613,856	$613,856	$613,856	$613,856	$613,856	$613,856	$613,856	$613,856	$613,856
2008/09	Ann & Ashley Addition	$0				$0	$0	$0	$0	$0	$0	$0	$0	$0
2010/11	rary Lot Underground & Pay Statii	$32,017,534				$1,773,100	$1,773,100	$2,123,358	$2,476,018	$2,476,018	$2,477,444	$2,476,487	$2,476,758	$2,478,058
		$60,600,000	$3,304,830	$3,417,149	$3,349,959	$5,365,231	$5,361,773	$5,717,682	$6,066,788	$6,041,824	$6,014,090	$6,004,976	$5,962,187	$5,340,049
		$99,876,927	$4,604,887	$4,730,667	$5,164,248	$7,540,213	$7,549,330	$8,410,851	$8,219,374	$8,194,409	$8,167,224	$8,157,742	$8,115,057	$7,493,419
"Bold" Bonds Projected for projects that have not yet been approved - for discussion purposes only.
4/10/2009
2^-08 (2j.xls
Parking Fund Income By Type and Facility
	FY 2006/07	FY 2007/08	FY 2008/09	FY 2009/10	FY201D/11	FY 2011/12	FY 2012/13	FY2013/14	FY 2014/15	FY 2015/16	FY 2016/17	FY 2017/18
Parking Rales												
Transient	$0.80	$0.80	$0.80	$0.90	$1.00	$1.10	$1.20	$1.30	$1.30	$1.30	$1.30	$1.30
Validation	10.50	$0 50	$0 50	$0 50	$0.50	$0.50	$0 50	$0.50	$0.50	$0.50	$0.50	$0.50
Permit	$105.00	$125 00	$125.00	$130.00	$135.00	$140.00	$145.00	$150.00	$155.00	$155 00	$155.00	$155.00
Other	$10.00	$15.00	$15.00	$15 00	$15.00	$15.00	$15.00	$15.00	$15 00	$15.00	$15.00	$15.00
Meter	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00
Washington & Fourth	281	281	281	281	281	281	281	281	281	281	281	281
Transient	$443,234	$494,165	$494,165	$555,936	$617,706	$679,477	$741,248	$803,018	$803,018	$803,018	$803,018	$803,018
Validation	$35,080	$42,657	$42,657	$47,989	$53,321	$58,653	$63,986	$69,318	$69,318	$69,313	$69,318	$69,318
Permit	$138,065	$50,770	$50,770	$52,801	$54,832	$56,862	$58,893	$60,924	$62,955	$62,955	$62,955	$62,955
Other	$17,440	$16,087	$16,087	$18,098	$20,109	$22,120	$24,131	$26,141	$26,141	$26,141	$26,141	$26,141
Washington & First	64	64	64	0	0	241	241	241	241	241	241	241
Transient	$57,834	$50,448	$50,448	$0	$0	$186,775	$203,754	$220,734	$220,734	$220,734	$220,734	$220,734
Validation	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permil	$62,862	$76,375	$76,375	$0	$0	$85,540	$88,595	$91,650	$94,705	$94,705	$94,705	$94,705
Other	$3,013	$3,433	$3,433	$0	$0	$12,710	$12,710	$12,710	$12,710	$12,710	$12,710	$12,710
Maynard	797	805	797	797	797	797	797	797	797	797	797	797
Transient	$1,346,015	$1,430,826	$1,416,607	$1,593,682	$1,770,758	$1,947,834	$2,124,910	$2,301,986	$2,301,986	$2,301,986	$2,301,986	$2,301,986
Validation	$46,357	$45,176	$44,727	$50,318	$55,909	$61,500	$67,091	$72,681	$72,681	$72,681	$72,681	$72,681
Permil	$233,872	$268,241	$268,241	$278,971	$289,700	$300,430	$311,160	$321,869	$332,619	$332,619	$332,619	$332,619
Other	$87,116	$92,511	$91,592	$103,041	$114,490	$125,938	$137,387	$148,836	$148,836	$148,836	$148,836	$148,836
Forest	591	591	591	591	591	591	591	591	591	591	591	591
Transient	$763,169	$881,775	$881,775	$991,997	$1,102,219	$1,212,441	$1,322,663	$1,432,884	$1,432,884	$1,432,884	$1,432,884	$1,432,884
Validation	$31,888	$84,029	$84,029	$94,533	$105,036	$115,540	$126,044	$136,547	$136,547	$136,547	$136,547	$136,547
Permit	$141,685	$161,843	$161,843	$166,317	$174,790	$181,264	$187,738	$194,212	$200,685	$200,685	$200,685	$200,685
Other	$102,274	$264,411	$264,411	$297,463	$330,514	$363,565	$396,617	$429,668	$429,668	$429,668	$429,668	$429,668
Fourth & William	847	994	1007	1007	1007	1007	1007	1007	1007	1007	1007	1007
Transient	$452,723	$479,926	$486,203	$546,978	$607,753	$668,529	$729,304	$790,079	$790,079	$790,079	$790,079	$790,079
Validation	$83,800	$60,006	$60,791	$68,390	$75,988	$83,587	$91,186	$98,785	$98,785	$98,785	$98,785	$98,785
Permit	$982,360	$1,787,057	$1,787,057	$1,858,540	$1,930,022	$2,001,504	$2,072,987	$2,144,469	¦ $2,215,951	$2,215,951	S2.215.951	$2,215,951
Other	$41,887	$52,996	$53,689	$60,400	$67,111	$73,823	$80,534	$87,245	$87,245	$87,245	$87,245	$87,245
Liberty Square	594	594	594	594	594	594	594	594	594	594	594	594
Transient	$78,128	$108,595	$108,595	$122,169	$135,744	$149,318	$162,893	$176,467	$176,467	$176,467	$176,467	$176,467
Validation	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$972,477	$1,161,137	$1,161,137	$1,207,582	$1,254,028	$1,300,473	$1,346,919	$1,393,364	$1,439,810	$1,439,810	$1,439,810	$1,439,610
Other	$38,579	$23,176	$23,176	$26,073	$28,970	$31,867	$34,764	537,661	S37.661	$37,661	$37,661	$37,661
Ann S Ashley	839	839	839	839	B39	839	839	839	839	839	839	839
Transient	$258,797	$292,637	$292,637	$329,217	$365,796	$402,376	$438,956	$475,535	$475,535	$475,535	$475,535	$475,535
Validation	$18,182	$43,735	$43,735	$49,202	$54,669	$60,136	$65,603	$71,069	$71,069	$71,069	$71,069	$71,069
Permil	$1,016,682	$1,152,994	$1,152,994	$1,199,114	$1,245,234	$1,291,353	$1,337,473	$1,383,593	$1,429,713	$1,429,713	$1,429,713	$1,429,713
Other	$79,926	$68,892	$68,892	$77,504	$86,115	$94,727	$103,338	$111,950	$111,950	$111,950	$111,950	$111,950
Library						735	735	735	735	735	735	735
Transient						$405,253	$442,095	$478,936	$478,936	$478,936	$478,936	$478,936
Validation						$60,566	$66,072	$71,576	$71,578	$71,578	$71,578	$71,578
Permit						$1,300,588	$1,347,038	$1,393,487	$1,439,937	$1,439,937	$1,439,937	$1,439,937
Other Lots						$95,404	$104,077	$112,750	$112,750	$112,750	$112,750	$112,750
Transient	$1.00	$1.00	$1.00	$1 10	$1.20	$1.30	$1.40	$1.50	$1 60	$1.60	$1 60	$1.60
Validation	$0.50	$0 50	$0.50	$0.50	$0,50	$0 50	$0.50	$0 50	$0 50	$0.50	$0.50	$0.50
Premium Permit	$145.00	$175.00	$175.00	$175.00	$175.00	$175 00	$175.00	$175.00	$175 00	$175.00	$175.00	$175.00
Open Lot Permit	$85.00	$105.00	$105.00	$105 00	$105.00	$105.00	$105 00	$105.00	$105.00	$105.00	$105.00	$105.00
Other	$10.00	$10 00	$10.00	$10 00	$10.00	$10.00	$10 00	$10,00	$10.00	$10.00	$10 00	$10,00
Meter	$1.00	$1.00	$1.00	$1.20	$1.20	$1.40	$1 40	$1.60	$1 60	$1.60	$1.60	$1.60
Meter Baqs	$15.00	$15 00	$15.00	$15 00	$15.00	$15.00	$15 00	$15.00	$15.00	$15.00	$15.00	$15 00
Library	193	193	193									
Transient	$402,345	$380,626	$380,626									
Validation	$18,360	$1,832	$1,832									
Permit	$0	$0	$0									
Other	$21,990	$20,693	$20,693									
South Ashley	134	134	134	134	134	134	134	134	134	134	134	134
Transient	$386,955	$411,875	$411,875	$453,063	$494,250	$535,438	$576,625	$617,813	$659,000	$659,000	$659,000	$659,000
Validation	$19,476	$25,744	$25,744	$25,744	$25,744	$25,744	$25,744	$25,744	$25,744	$25,744	$25,744	$25,744
Permit	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other	$11,479	$11,356	$11,356	$11,356	$11,356	$11,356	$11,356	$11,356	$11,356	$11,356	$11,356	$11,356
First & Huron	168	168	168	168	168	168	168	168	168	168	168	163
Transient	$584,209	$563,636	$563,636	$620,000	$676,363	$732,727	$789,090	$845,454	$901,818	$901,818	$901,818	$901,818
Validation	$19,524	$62,948	$62,948	$69,243	$75,538	$81,832	$88,127	$94,422	$100,717	$100,717	$100,717	$100,717
Permit		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other	$14,621	$14,279	$14,279	$15,707	$17,135	$18,563	$19,991	$21,419	$22,846	$22,846	$22,846	$22,846
Fifth & Huron	56	56	56	56	56	56	56	56	56	56	56	56
Transient	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Validation	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$98,638	$113,840	$113,840	$125,224	$136,608	$147,992	$159,376	$170,760	$182,144	$182,144	$182,144	$182,144
Other	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
First & William	105	105	105	105	105	105	105	105	105	105	105	105
Transienl	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Validation	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Permit	$126,637	$146,518	$146,518	$146,518	$146,518	$146,518	$146,518	$146,518	$146,518	$146,518	$146,518	$146,518
Otner	$3,200	$4,495	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640	$2,640
Finge.le	55	55	55	55	55	55	55	55	55	55	55	55
Permit	$45,508	$40,348	$40,348	$40,348	$40,348	$40,348	$40,348	$40,348	$40,348	$40,348	$40,348	$40,348
Other	$4,270	$4,567	$4,567	$4,567	$4,567	$4,567	$4,567	$4,567	$4,567	$4,567	$4,567	$4,567
415 W Washington		134	134	134	134	134						
Transienl		$32,144	$32,144	$35,358	$38,573	$41,787						
Validation		$31,830	$31,830	$35,013	$38,196	$41,379						
Meters	1,913	1,905	1,913	1,913	1.913	1,913	1,913	1.913	1.913	1,913	1.913	1,913
Meters	$2,471,347	$2,441,455	$2,451,708	$2,942,050	$3,242,050	$3,782,391	$3,782,391	$4,322,733	$4,322,733	$4,322,733	$4,322,733	$4,322,733
Meter Bags	$395,875	$540,346	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615
Totals												
Spaces	6,637	6.784	6,797	6,540	6,540	7.516	7,5t6	7,516	7,516	7,516	7.516	7,516
Transient	$4,773,409	$5,126,653	$5,118,710	$5,248,399	$5,809,163	$6,961,954	$7,531,536	$8,142,906	$8,240,457	$8,240,457	$8,240,457	$8,240,457
Validation	$272,667	$366,127	$366,463	$405,418	$446,205	$486,992	$527,779	$568,567	$574,861	$574,861	$574,861	$574,861
Permit	$3,818,786	$4,990,953	$4,990,953	$5,112,427	$5,310,276	$5,593,665	$5,750,006	$5,947,727	$6,145,446	$6,145,448	$6,145,448	$6,145,448
Olher	$425,795	$576,896	$574,815	$616,848	$683,007	$857,279	$932,111	$1,006,943	$1,008,371	$1,008,371	$1,008,371	$1,008,371
Meters	$2,471,347	$2,441,455	$2,451,708	$2,942,050	$3,242,050	$3,782,391	$3,782,391	$4,322,733	$4,322,733	$4,322,733	$4,322,733	$4,322,733
Mater Bags	$395,875	$540,346	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615	$542,615
	$12,157,879	$14,042,430	$14,045,264	$14,867,757	$16,033,315	$18,224,896	$19,066,439	$20,531,490	$20,834,484	$20,834,484	$20,834,484	$20,834,484
4/10/2009
2-4-08 (2).Xls
Downtown Development Authority Estimation of Net Tax Revenues FY 1982/83-2012/13
Fiscal Est. SEV
Year       from DDA TIF Plans
Actual/Est. SEV "B"
Actual Prop. Tax Millage Rate
Homestead
Non-Homestead
Est. Tax Capture from DDA TIF Plans
Actual/Est. Tax Capture
Estimates used are from the 1982 DDA TIF plan
1983	$0	$0			$0	$0
1984	$2,000,000	$2,154,000	N/A	N/A	$120,000	$127,258
1985	$7,100,000	$6,319,200	68.0200	68.0200	$426,000	$415,081
1986	$12,450,000	$9,007,500	67.9600	67.9600	$747,000	$577,701
1987	$18,070,000	$18,594,100	68.9000	68.9000	$1,080,000	$1,248,904
1988	$23,970,000	$28,453,400	67.9900	67.9900	$1,438,000	$1,912,679
1989	$30,170,000	$38,460,400	65.7900	65.7900	$1,810,000	$2,548,908
1990	$36,680,000	$41,524,000	63.3900	63.3900	$2,201,000	$2,374,803
1991	$43,510,000	$43,437,500	63.3200	63.3200	$2,611,000	$2,576,842
1992	$50,710,000	$44,323,700	63.3200	63.3200	$3,043,000	$2,679,982
1993	$58,250,000	$42,545,100	63.1300	63.1300	$2,495,000	$2,698,218
1994	$66,160,000	$42,244,300	49.9740	56.6162	$3,967,000	$2,623,696
1995	$74,470,000	$42,760,900	50.4221	57.8107	$4,468,000	$2,359,539
1996	$83,190,000	$42,219,400	47.8084	57.5951	$4,991,000	$2,427,769
1997	$92,350,000	$45,517,800	49.7825	58.8097	$5,541,000	$2,573,290
1998	$101,970,000	$46,926,400	49.3022	58.8566	$6,118,000	$2,766,277
1999	$112,070,000	$50,577,459	48.3181	58.0204	$6,724,000	$2,964,684
2000	$122,670,000	$53,470,559	48.3172	58.0195	$7,360,000	$2,788,112
2001	$133,800,000	$52,279,294	47.4614	58.1021	$8,028,000	$2,660,516
2002	$145,490,000	$57,620,096	46.8020	57.7565	$8,729,000	$2,884,034
Estimates used are from the 2002 DDA TIF plan
2003	$59,330,104	$69,324,486	47.5568	58.9490	$2,881,901	$3,163,739
2004	$61,059,151	$72,123,783	45.4418	57.7879	$2,880,617	$3,204,541
2005	$62,838,671	$76,955,174	47.3625	59.6817	$2,907,575	$3,326,486
2006	$64,670,139	$78,671,971	46.7755	59.2397	$2,931,586	$3,365,468
2007	$66,555,075	$81,877,369	46.1895	59.1823	$2,934,741	$3,405,586
2008	$68,495,042	$92,204,889	46.0373	59.2835	$2,932,832	$3,660,612
2009	$70,491,649	$94,048,987			$2,940,752	$3,973,325
2010	$72,546,553	$95,929,967			$1,931,198	$3,544,929
2011	$74,661,458	$97,848,566			$1,969,825	$3,796,929
2012	$76,838,119	$99,805,537			$2,009,220	$3,872,867
2013	$79,078,342	$101,801,648			$2,049,402	$3,950,325
2014	$81,383,987	$103,837,681			$2,090,391	$4,029,331
2015	$83,759,967	$105,914,434			$2,132,198	$4,109,918
2016	$86,199,251	$108,032,723			$2,174,844	$4,192,116
2017	$88,712,867	$110,193,378			$2,218,341	$4,275,959
2018	$91,299,902	$112,397,245			$2,262,709	$4,361,478
2019	$93,962,503	$114,645,190			$2,307,963	$4,448,707
2020	$96,702,881	$116,938,094			$2,354,121	$4,537,681
2021	$99,523,312	$119,276,856			$2,401,203	$4,628,435
2022	$102,426,138	$121,662,393			$2,449,229	$4,721,004
2023	$105,413,769	$124,095,641			$2,498,213	$4,815,424
2024	$108,488,688	$126,577,554			$2,548,175	$4,911,732
2025	$111,653,448	$129,109,105			$2,599,139	$5,009,967
2026	$114,910,679	$131,691,287			$2,651,121	$5,110,166
2027	$118,263,087	$134,325,112			$2,704,145	$5,212,370
2028	$121,713,456	$137,011,615			$2,758,229	$5,316,617
2029	$125,264,655	$139,751,847			$2,813,392	$5,422,949
2030	$128,919,634	$142,546,884			$2,869,659	$5,531,408
2031	$132,681,431	$145,397,822			$2,927,051	$5,642,037
2032	$136,553,174	$148,305,778			$2,985,592	$5,754,877
	$3,999,477,132	$4,040,738,122			$148,012,364	$172,505,277
Estimated rate of increase is: 2.00%
DDA 10-Year Plan Variables
1 TIF Growth Rate
2.00% After FY 2011
Significant additions to TIF revenue:
2 Interest Rate on Fund Balances
Year
Liberty Lofts Ashley Terrace 411 Lofts Zaragon
2008 $225,279
2009 $225,279 $336,000
2010 $225,279 $336,000 $138,000 $114,000
2011 $225,279 $336,000 $276,000 $228,000
3.00%
3 TIF Administrative Expense Growth Rate
4 Yearly Parking Rate Increases
5 Parking Administrative Expense Growth Rate
6 City and Private Lot Rental Cost of Living Adjustment Rate
7 Amount of Yearly Grant from TIF to Housing Fund
Amount of Yearly Grant from Parking to Parking Maintenance Fund
8 Possible Future Projects
TIF Fund
Name of Project 5th & Division & Wayfinding Parking Structure Pedestrian Improvements Future Development City Hall
4.00%
0.00%
4.00%
4.00%
$200,000 $2,093,605
Fiscal Year Project Begins 2009/10 2010/11 2010/11 2009/10
Total Cost     Amount to be
Amount to be
Annual Bond     Annual Revenue
of Project Paid from Cash-inanced over 20/25 year; Payments
$6,150,000 $922,500                  $5,227,500 $693,521
$9,246,300 $1,408,256                $7,838,044 See Bond Pmt Tab
$5,283,600 $803,717                $4,478,883 See Bond Pmt Tab
$8,200,000 $0                  $8,200,000 $506,557
Generated
Parking Fund
Name of Project First & Washington Ann & Ashley Addition Library Lot Underground & Pay Stations
Fiscal Year Total Cost Amount to be   Amount to be              Annual Bond
Project Begins of Project Paid from Cash Financed over 20/25 yea Payments
2008/09             $9,000,000 $1,350,000 $7,650,000             $613,856 $0
2008/09                        $0 $0 $0 $0
2010/11 $37,770,100 $5,752,566               $32,017,534 See Bond Pmt Tab $1,861,811
9 Assumed Rent from DDA to City for Parking Meters            FY      2005 $107,517
2006 $2,000,000
2007 $2,000,000
2008 $2,000,000
2009 $2,000,000
2010 $2,000,000
2011 $2,000,000
2012 $2,000,000
2013 $2,000,000
2014 $2,000,000
2015 $2,000,000
Page 1 of 1
Crawford, Tom
From: Joseph Morehouse [JMorehouse@a2dda.org]
Sent: Thursday, February 05, 2009 5:42 PM
To: Crawford, Tom
Subject:        Reports from today
Attachments: 2-4-08.xls; Potential Sources of Revenue from the DDA Parking System.docx Tom,
Here are the spreadsheets we were looking at this afternoon. If you have the proposed 1st & Washington debt schedule I can compare it to what is in my plan.
Please let me know when you would like to meet next.
Thanks,
Joe
4/10/2009
Crawford, Tom
To:
From:
Sent:
Paul Stauder [paul@stauderbarch.com] Tuesday, February 10, 2009 9:22 AM Morehouse, Joseph
Cc:
Crawford, Tom; Horning, Matthew RE: Book1.xls
Subject:
Attachments: Library Lot Parking Bond v9.pdf
Here it is.
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates 3989 Research Park Drive Ann Arbor, Michigan 48108 Phone^73^-668^688
Fax 734-668-6723
Email paul@stauderbarch.com
From: Joseph Morehouse [mailto:JMorehouse@a2dda.org] Sent: Tuesday, February 10, 2009 8:58 AM To: Paul Stauder Cc: Crawford, Tom Subject: Bookl.xls
Could you please run another bond scenario with the attached amounts?
Paul
Thanks,
Joe and Tom
4/10/2009
POLICY DECISIONS THAT WOULD IMPROVE AFFORDABILITY
Assuming the costs for the parking structure construction create a budget shortfall, and parking demand is soft, and TIF revenues are soft is
could be possible that a shortfall could appear each year. Assuming all that, below is a list of potential actions to improve the DDA financial situation.
DRAFT ESTIMATES                           FY 2009	FY 2010	FY 2011	FY 2012	FY 2013	FY 2014	FY 2015
(Shortfall) - Total Required Reserves $	$	$ (2,480,638)	$ (3,782,205)	$(2,867,333)	$(1,361,529)	$
Opportunities						
Capital Projects						
• Defer Fifth & Division / Wayfinding $	$ 1,261,250	$ 338,250	$ 693,521	$ 693,521	$ 693,521	$ 693,521
• Defer First & Washington	1,963,856	613,586	613,586	613,586	613,586	613,586
• Grant to Farmer's Market	300,000	-	-	-	-	-
• Defer this Proposed Project 1 Yr	7.509.039	370,871	(5,552,100)			
Parkinq System Rates						
• Raise Permits $5/month	183,281	183,281	183,281	183,281	183,281	183,281
• Raise Off Street Rates $0.10/hr	682,276	682,276	682,276	682,276	682,276	682,276
• Raise Meters $0.10/hr	245,171	245,171	245,171	245,171	245,171	245,171
• Raise Meter Bag Fees $5/day	181,000	181,000	181,000	181,000	181,000	181,000
• Extend Evening Enforcement 1 hr	250,000	250,000	250,000	250,000	250,000	250,000
• Lots - Charge in 1 hr Increments	400,000	400,000	400,000	400,000	400,000	400,000
• Raise $2 & $3 Entry by $1	100,000	100,000	100,000	100,000	100,000	100,000
• Accelerate Planned Increases tbd						
Financing,						
• Delay Bond Principle Pymt by 1 yr	-	-	485,000	515,000	55,000	95,000
Reserves						
• Reduce Min. Requirement to 15%	-	1,032,753	895,879	579,560	304,790	-
Library Lot.xls
3
4/10/2009
• Capital Projects
Significant capital projects for the foreseeable future would be limited to:
Project Costs
- This project (as described in the above Project Cost section) $ 54,319,694
- Fifth & Division and Wayfinding (Assumes Loss of MDOT Grant) $ 6,150,000
- First and Washington (Project with Village Green-min. 95 public spaces) $ 9,000,000
• Projections for Proposed Structure
- Revenue and expenditure projections were based on the Fourth and William structure.
- The DDA manages the monthly permit, transient, & validation parking as a whole so existing permit holders would likely be moved from the Maynard and Liberty Square structures to the proposed structure to take advantage of higher transient demand at the Maynard deck.
- The income from the new structure is based on the Permit/Transient mix of the Fourth & William Parking Structure. We expect that by transferring permits to the Library Lot Structure we will increase the more profitable transient usage at the Maynard structure, but we have not increased the income of the Maynard facility to reflect this due to the conservative nature of the 10-Year plan.
- There are approx. 600 people on a waiting list for monthly permits. The proposed project would help reduce the waiting list.
- Assumes demand for downtown parking will not materially reduce as rates are increased.
• Parking System Rates
		FY 2009	FY 2010	FY 2011	FY 2012	FY 2013	FY 2014		FY 2015
Permits ($/month)	$	125	$ 130	$ 135	$ 140	$ 145	$ 150	$	155
Deck - Transient ($/hr)	$	0.90	$ 1.00	$ 1.10	$ 1.20	$ 1.30	$ 1.30	$	1.30
Lot - Transient (S/hr)	$	1.00	$ 1.10	$ 1.20	$ 1.30	$ 1.40	$ 1.50	$	1.60
Meters ($/hr)	$	1.00	$ 1.20	$ 1.20	$ 1.40	$ 1.40	$ 1.60	$	1.60
MAJOR RISKS & MITIGATING FACTORS
• Risk: Demand declines for downtown transient parking.
Mitigating Factor: Could market to Univ. of Michigan students and faculty. This marketing is not being done now. For instance,
there are four new student housing projects being constructed in the vicinity of our parking decks, containing many hundreds of new residences.
Most of them do not have parking for all their residents.
• Risk: Demand declines for downtown permit parking.
Mitigating Factor: There's an existing 600 person waiting list. This list alone could nearly fill the added new spaces.
• Risk: Drop-off in new downtown developments generating TIF revenue.
Mitigating Factor: The DDA capture increases via new projects not annual increases or decreases that generally affect the City.
The DDA 10-Year plan shows projects four major projects currently completing construction, with no other growth until FY 2011/12. Given the
nature of the TIF capture DDA receives it's unlikely any TIF reduction would occur.
• Risk: Project costs overrun anticipated levels.
Mitigating Factor: Carl Walker Inc. has historically given conservative estimates on DDA projects and we have never exceeded a construction budget. If the worst happened we could reduce or eliminate other DDA projects.
Library Lot.xls
2
4/10/2009
City of Ann Arbor NEW PARKING STRUCTURE ON LIBRARY LOT
PROJECT DESCRIPTION
Construction of 667 space (4 story underground) parking garage under the City's existing Library lot. As planned the structure would be under the existing surface lot plus go under Fifth Ave, consistent with the southern and northern lot lines of the library lot. The project would include infrastructure to support a 25 story development above the existing lot, but permit approx. 68 surface level parking spaces until some future development is done. Construction would start in fall of 2009 and last 2 years.
Separately, the project includes funding to replace existing parking meters throughout the downtown with more modern and functional parking kiosks. This projections dowes not include the Fifth & Division and Wayfinding projects which are included in the full DDA 10-Year plan.
PROJECT COSTS
Library Lot Underground Pay Stations
Structure for Future Development Pedestrian Improvements Total
Project Cost
Cash Investment
$ 37,126,070 2,080,306 5,495,752 9,617,566
$
5,568,910 312,046 803,717
1,408,256
Amount Borrowed
$ 31,557,159 1,768,260 4,478,883 7,838,044
Term (Yrs)
26 26 26 26
$ 54,319,694    $ 8,092,929    $ 45,642,346
Annual Debt Service
S 2.370,485 132,827 336.441 588,772
S 3,428,525
KEY ASSUMPTIONS
• The DDA has established four key Funds for its operations: TIF, Parking (Operations), Parking Capital Improvement, & (Affordable) Housing. The proposed plan does not affect the Affordable Housing fund reserves or future transfers. However, the reserves from the remaining three funds are considered are all considered together in order to fund this project.
• Reserves
For purposes of evaluating this project, minimum reserves of 20% of expenditures for each fund is being used as a minimum level. The recommendations below assume completion of the proposed project.
20% Reserve     Memo: 15%
TIF
Parking Operations Parking Capital Improvements Total
$	840,000 $	630,000
	3,760,000	2,820,000
	500,000 *	500,000
$	5,100,000 $	3,950,000
Fixed $500k recommended by DDA staff.
Impacts to Existing Operations
-TIF fund -TIF fund -TIF fund -TIF fund
411 Lofts and Zaragon projects start contributing TIF in FY 2010. No other new projects are included in these estimates. Continues to transfer $200k per year to the DDA (Affordable) Housing fund.
Dis-continue capital improvement monies for downtown alleys and sidewalks repairs for the foreseeable future. Reduce funding for future grants to approx. $500k per year ( Neutral Zone, & Merchant Associations, etc.).
- Parking (Operations) fund
- Parking (Operations) fund
- Parking (Operations) fund
- Parking (Operations) fund
Continues to transfer $2.1 mil. per year to the Parking Capital Improvements fund. Maintains a $2 mil. annual placeholder for undetermined expenditures. Maintains a $500K contingency.
Finish 3 year commitment to North/South Railroad, but cap future grants to $425k per year (GoPass).
Library Lot.xls
1
4/10/2009
Crawford, Tom
From: Joseph Morehouse [JMorehouse@a2dda.org]
Sent: Tuesday, February 10, 2009 9:37 AM
To: Crawford, Tom
Subject: Library Lot.xls Attachments: Library Lot.xls
4/10/2009
Page 1 of 1
Horning, Matthew
From: Crawford, Tom
Sent: Tuesday, February 10, 2009 7:37 AM
To: Horning, Matthew
Subject:       FW: DDA Bond
Attachments: Library Lot Parking Bond v8.pdf
fyi
From: Paul Stauder [mailto:paul@stauderbarch.com] Sent: Monday, February 09, 2009 7:45 AM To: Crawford, Tom Subject: RE: DDA Bond
I thought I did.
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell 734-646-5485
Fax 734-668-6723
Email paul@stauderbarch.com
From: Crawford, Tom [mailto:TCrawford@a2gov.org] Sent: Sunday, February 08, 2009 6:23 PM To: Paul Stauder Subject: DDA Bond
Did you send the 30 yr version we discussed on Friday? I was thinking we talked on phone & said you did but I can't seem to find it.
4/2/2009
$44,640,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$35,802,600
Parking Meter Replacements	2,000,000
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$52,332,500
Legal, Financial, Advertising, Etc.	101,495
Bond Discount                     1.50%	669,600
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$53,103,595
Less Construction Fund Earnings	(498,056)
Less DDA Equity Contribution	(7,965,539)
Less Other	0
AMOUNT OF BOND ISSUE	$44,640,000
Estimated Construction Fund Deposit from Bond Proceeds	$43,868,905
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
Date	Local Expenditures	Financing Costs	Totals	Month	Payout %		Receipts	Fund Balance	Interest Rate	Interest Earned
May 09						Fund Equity	$7,965,539	$7,965,539		
May 09	$2,180,521	$771,095	$2,951,616	1	5.56%	Bond Funds	44,640,000	49,653,923	1.00%	$41,378
Jun 09	2,180,521		2,180,521	2	9.66%			47,514,781	1.00%	39,596
Jul 09	2,180,521		2,180,521	3	13.77%			45,373,856	1.00%	37,812
Aug 09	2,180,521		2,180,521	4	17.88%			43,231,146	. 1.00%	36,026
Sep 09	2,180,521		2,180,521	5	21.98%			41,086,651	1.00%	34,239
Oct 09	2,180,521		2,180,521	6	26.09%			38,940,370	1.00%	32,450
Nov 09	2,180,521		2,180,521	7	30.20%			36,792,299	1.00%	30,660
Dec 09	2,180,521		2,180,521	8	34.30%			34,642,438	1.00%	28,869
Jan 10	2,180,521		2,180,521	9	38.41%			32,490,786	1.00%	27,076
Feb 10	2,180,521		2,180,521	10	42.51%			30,337,341	1.00%	25,281
Mar 10	2,180,521		2,180,521	11	46.62%			28,182,101	1.00%	23,485
Apr 10	2,180,521		2,180,521	12	50.73%			26,025,066	1.00%	21,688
May 10	2,180,521		2,180,521	13	54.83%			23,866,232	1.00%	19,889
Jun 10	2,180,521		2,180,521	14	58.94%			21,705,600	1.00%	18,088
Jul 10	2,180,521		2,180,521	15	63.04%			19,543,167	1.00%	16,286
Aug 10	2,180,521		2,180,521	16	67.15%			17,378,932	1.00%	14,482
Sep 10	2,180,521		2,180,521	17	71.26%			15,212,894	1.00%	12,677
Oct 10	2,180,521		2,180,521	18	75.36%			13,045,051	1.00%	10,871
Nov 10	2,180,521		2,180,521	19	79.47%			10,875,401	1.00%	9,063
Dec 10	2,180,521		2,180,521	20	83.58%			8,703,943	1.00%	7,253
Jan 11	2,180,521		2,180,521	21	87.68%			6,530,675	1.00%	5,442
Feb 11	2,180,521		2,180,521	22	91.79%			4,355,596	1.00%	3,630
Mar 11	2,180,521		2,180,521	23	95.89%			2,178,705	1.00%	1,816
Apr 11	2,180,521		2,180,521	24	100.00%			(0)	1.00%	(0)
May 11	0		0	25	100.00%			(0)	1.00%	(0)
	$52,332,500	$771,095	$53,103,595				$52,605,539			$498,056
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 2/6/09
$44,640,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$44,640,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	27.76%	72.24%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	0.000%	0	0		0
2010	681,676	1,773,524	2,455,200	1,227,600	1,227,600	5.500%	0	2,455,200	0	0
2011	681,676	1,773,524	2,455,200	1,227,600	1,227,600	5.500%	0	2,455,200	0	0
2012	785,793	2,044,407	2,830,200	1,227,600	1,227,600	5.500%	375,000	2,830,200	0	0
2013	884,184	2,300,391	3,184,575	1,217,288	1,217,288	5.500%	750,000	3,184,575		0
2014	883,837	2,299,488	3,183,325	1,196,663	1,196,663	5.500%	790,000	3,183,325		0
2015	884,267	2,300,608	3,184,875	1,174,938	1.174,938	5.500%	835,000	3,184,875		0
2016	884,010	2.299,940	3,183,950	1.151,975	1,151,975	5.500%	880.000	3,183,950		0
2017	884,455	2,301,095	3,185,550	1,127,775	1,127,775	5.500%	930,000	3,185,550		0
2018	884,135	2,300,265	3,184,400	1,102,200	1,102,200	5.500%	980,000	3,184,400		0
2019	884,441	2,301,059	3,185,500	1,075,250	1,075,250	5.500%	1,035,000	3,185,500		0
2020	883,906	2,299,669	3,183,575	1,046,788	1,046,788	5.500%	1,090,000	3,183,575		0
2021	883,920	2,299,705	3,183,625	1,016,813	1,016,813	5.500%	1,150,000	3,183,625		0
2022	884,406	2,300,969	3,185,375	985,188	985,188	5.500%	1,215,000	3,185,375		0
2023	883,899	2,299,651	3,183,550	951,775	951,775	5.500%	1,280,000	3,183,550		0
2024	885,177	2,302,973	3,188,150	916,575	916,575	5.500%	1,355.000	3,188,150		0
2025	883,920	2,299,705	3,183,625	879,313	879,313	5.500%	1,425,000	3,183,625		0
2026	884,371	2,300,879	3,185,250	840,125	840,125	5.500%	1,505,000	3,185,250		0
2027	884,989	2,302,486	3,187,475	798,738	798,738	5.500%	1,590,000	3,187,475		0
2028	884,309	2,300,716	3,185,025	755,013	755,013	5.500%	1,675,000	3,185,025		0
2029	883,719	2,299,181	3,182,900	708,950	708,950	5.500%	1,765,000	3,182,900		0
2030	884,531	2,301,294	3,185,825	660,413	660,413	5.500%	1,865,000	3,185,825		0
2031	885,204	2,303,046	3,188,250	609,125	609,125	5.500%	1,970,000	3,188,250		0
2032	884,274	2,300,626	3,184,900	554,950	554,950	5.500%	2,075,000	3,184,900		0
2033	884,517	2,301,258	3,185,775	497,888	497,888	5.500%	2,190,000	3,185,775		0
2034	884,392	2,300,933	3,185,325	437,663	437,663	5.500%	2,310,000	3,185,325		0
2035	885,211	2,303,064	3,188,275	374,138	374,138	5.500%	2,440,000	3,188,275		0
2036	884,045	2.300,030	3,184,075	307,038	307,038	5.500%	2,570,000	3,184,075		0
2037	885,059	2,302,666	3,187,725	236,363	236,363	5.500%	2,715,000	3,187,725		0
2038	883,858	2,299.542	3,183,400	161,700	161,700	5.500%	2,860,000	3,183,400		0
2039	884,607	2,301.493	3,186,100	83,050	83,050	5.500%	3,020,000	3,186,100		0
2040	0	0	0	0	0	0.000%	0	0		0
2041	0	0	0	0	0	0.000%	0	0		0
	26,026,790	67,714,185	93,740,975	24,550,488	24,550,488		44,640,000	93,740,975	0	
[1]  Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive Ann Arbor, Ml 48108 Phone (734) 668-6688  Fax: (734) 668-6723
6-Feb-09 PRS
Horning, Matthew
From:    Crawford, Tom
Sent:     Wednesday, February 18, 2009 12:54 PM To:       Horning, Matthew Subject: Deck
Version 13 is bond scenarios which was approved.
4/2/2009
Horning, Matthew
To:
Subject:
Sent:
From:
Crawford, Tom
Wednesday, February 11, 2009 10:00 AM Horning, Matthew FW: DDA
Attachments: Library Lot Parking Bond v9.pdf; Library Lot Parking Bond v10.pdf
From: Paul Stauder [mailto:paul@stauderbarch.com] Sent: Wednesday, February 11, 2009 8:00 AM To: Crawford, Tom; Morehouse, Joseph Subject: DDA
Attached are the two cost/repayment structures we discussed. Let me know if this is not as expected.
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell 734-646-5485
Fax 734-668-6723
Email paul@stauderbarch.com
4/2/2009
$44,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$35,802,600
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$50,332,500
Municipal Bonding Fee	1,329,500
Legal, Financial, Advertising, Etc.	110,542
Bond Discount                     1.50%	660,750
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$52,433,292
Less Construction Fund Earnings	(518,298)
Less DDA Equity Contribution	(7,864,994)
Less Other	0
AMOUNT OF BOND ISSUE	$44,050,000
Estimated Construction Fund Deposit from Bond Proceeds	$41,949,208
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
	Local	Financing					Fund	Interest	Interest
Date	Expenditures	Costs	Totals	Month	Payout %	Receipts	Balance	Rate	Earned
May 09					Fund Equity	$7,864,994	$7,864,994		
May 09	$2,097,188	$771,292	$2,868,479	1	5.61% Bond Funds	44,050,000	49,046,514	1.00%	$40,872
Jun 09	2,097,188		2,097,188	2	9.72%		46,990,199	1.00%	39,158
Jul 09	2,097,188		2,097,188	3	13.82%		44,932,170	1.00%	37,443
Aug 09	2,097,188		2,097,188	4	17.92%		42,872,426	1.00%	35,727
Sep 09	2,097,188		2,097,188	5	22.03%		40,810,966	1.00%	34,009
Oct 09	2,097,188		2,097,188	6	26.13%		38,747,787	1.00%	32,290
Nov 09	2,097,188		2,097,188	7	30.24%		36,682,889	1.00%	30,569
Dec 09	2,097,188		2,097,188	8	34.34%		34,616,271	1.00%	28,847
Jan 10	2,097,188		2,097,188	9	38.44%		32,547,930	1.00%	27,123
Feb 10	2,097,188		2,097,188	10	42.55%		30,477,866	1.00%	25,398
Mar 10	2,097,188		2,097,188	11	46.65%		28,406,077	1.00%	23,672
Apr 10	2,097,188		2,097,188	12	50.75%		26,332,561	1.00%	21,944
May 10	2,097,188		2,097,188	13	54.86%		24,257,317	1.00%	20,214
Jun 10	2,097,188		2,097,188	14	58.96%		22,180,344	1.00%	18,484
Jul 10	2,097,188		2,097,188	15	63.07%		20,101,641	1.00%	16,751
Aug 10	2,097,188		2,097,188	16	67.17%		18,021,204	1.00%	15,018
Sep 10	2,097,188		2,097,188	17	71.27%		15,939,035	1.00%	13,283
Oct 10	2,097,188		2,097,188	18	75.38%		13,855,130	1.00%	11,546
Nov 10	2,097,188		2,097,188	19	79.48%		11,769,488	1.00%	9,808
Dec 10	2,097,188		2,097,188	20	83.58%		9,682,108	1.00%	8,068
Jan 11	2,097,188		2,097,188	21	87.69%		7,592,989	1.00%	6,327
Feb 11	2,097,188		2,097,188	22	91.79%		5,502,129	1.00%	4,585
Mar 11	2,097,188		2,097,188	23	95.90%		3,409,527	1.00%	2,841
Apr 11	2,097,188		2,097,188	24	100.00%		1,315,181	1.00%	1,096
May 11	0		0	25	100.00%		1,316,277	1.00%	1,097
	$50,332,500	$771,292	$51,103,792			$51,914,994			$518,298
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 2/11/09
$44,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
Increment      Parking [2] $44,050,000_Dated_5/1/09
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	28.87%	71.13%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	0.000%	0	0		0
2010	699,395	1,723,355	2,422,750	1,211,375	1,211,375	5.500%	0	2,422,750	0	0
2011	699,395	1,723,355	2,422,750	1,211,375	1,211,375	5.500%	0	2,422,750	0	0
2012	807,650	1,990,100	2,797,750	1,211,375	1,211,375	5.500%	375,000	2,797,750	0	0
2013	907,063	2,235,062	3,142,125	1,201,063	1,201,063	5.500%	740,000	3,142,125		0
2014	906,861	2,234,564	3,141,425	1,180,713	1,180,713	5.500%	780,000	3,141,425		0
2015	907,467	2,236,058	3,143,525	1,159,263	1,159,263	5.500%	825,000	3,143,525		0
2016	907.359	2,235,791	3,143,150	1,136,575	1,136,575	5.500%	870,000	3,143,150		0
2017	906,536	2.233,764	3,140,300	1,112,650	1,112,650	5.500%	915,000	3,140,300		0
2018	907,886	2,237,089	3,144,975	1,087,488	1,087,488	5.500%	970,000	3,144,975		0
2019	906,919	2.234,706	3,141,625	1,060,813	1,060,813	5.500%	1,020,000	3,141,625		0
2020	906,601	2,233,924	3,140,525	1,032,763	1,032.763	5.500%	1,075,000	3,140,525		0
2021	906,854	2,234,546	3,141,400	1,003,200	1,003,200	5.500%	1,135,000	3,141,400		0
2022	907,597	2,236,378	3,143,975	971,988	971,988	5.500%	1,200,000	3,143,975		0
2023	907,309	2,235,666	3,142,975	938,988	938,988	5.500%	1,265,000	3,142,975		0
2024	907,431	2,235,969	3,143,400	904,200	904,200	5.500%	1,335,000	3,143,400		0
2025	907,886	2,237,089	3,144,975	867,488	867.488	5.500%	1,410,000	3,144,975		0
2026	907,150	2,235,275	3,142,425	828,713	828,713	5.500%	1,485,000	3,142,425		0
2027	906,666	2,234,084	3,140,750	787,875	787,875	5.500%	1,565,000	3,140,750		0
2028	907,799	2,236,876	3,144,675	744,838	744,838	5.500%	1,655,000	3,144,675		0
2029	907,504	2,236,146	3,143,650	699,325	699,325	5.500%	1,745,000	3,143,650		0
2030	907,222	2,235,453	3,142,675	651,338	651,338	5.500%	1,840,000	3,142,675		0
2031	906,876	2,234,599	3,141,475	600,738	600,738	5.500%	1,940,000	3,141,475		0
2032	907,828	2,236,947	3,144,775	547,388	547,388	5.500%	2,050,000	3,144,775		0
2033	907,034	2,234,991	3,142,025	491,013	491,013	5.500%	2,160,000	3,142,025		0
2034	907,381	2,235,844	3,143,225	431,613	431,613	5.500%	2,280,000	3,143,225		0
2035	907,265	2,235,560	3,142,825	368,913	368,913	5.500%	2,405,000	3,142,825		0
2036	906,609	2,233,941	3,140,550	302,775	302,775	5.500%	2,535,000	3,140,550		0
2037	906,775	2,234,350	3,141,125	233,063	233,063	5.500%	2,675,000	3,141,125		0
2038	907,605	2,236,395	3,144,000	159,500	159,500	5.500%	2,825,000	3,144,000		0
2039	906,053	2,232,572	3,138,625	81,813	81,813	5.500%	2,975,000	3,138,625		0
2040	0	0	0	0	0	0.000%	0	0		0
2041	0	0	0	0	0	0.000%	0	0		0
	26,699,978	65,790,447	92,490,425	24,220,213	24,220,213		44,050,000	92,490,425	0	
[1]  Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]  Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, MI 48108 11-Feb-09 Phone (734) 668-6688 Fax: (734) 668-6723 PRS
$49,290,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$41,802,600
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAPITAL COSTS:	$56,332,500
Municipal Bonding Fee	1,486,700
Legal, Financial, Advertising, Etc.	112,091
Bond Discount 1.50%	739,350
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$58,670,641
Less Construction Fund Earnings	(580,045)
Less DDA Equity Contribution	(8,800,596)
Less Other	0
AMOUNT OF BOND ISSUE	$49,290,000
Estimated Construction Fund Deposit from Bond Proceeds	$46,951,859
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
	Local	Financing						Fund	Interest	Interest
Date	Expenditures	Costs	Totals	Month	Payout %		Receipts	Balance	Rate	Earned
May 09						Fund Equity	$8,800,596	$8,800,596		
May 09	$2,347,188	$851,441	$3,198,629	1	5.59%	Bond Funds	49,290,000	54,891,968	1.00%	$45,743
Jun 09	2,347,188		2,347,188	2	9.70%			52,590,523	1.00%	43,825
Jul 09	2,347,188		2,347,188	3	13.80%			50,287,161	1.00%	41,906
Aug 09	2,347,188		2,347,188	4	17.91%			47,981,880	1.00%	39,985
Sep 09	2,347,188		2,347,188	5	22.01%			45,674,677	1.00%	38,062
Oct 09	2,347,188		2,347,188	6	26.12%			43,365,552	1.00%	36,138
Nov 09	2,347,188		2,347,188	7	30.22%			41,054,502	1.00%	34,212
Dec 09	2,347,188		2,347,188	8	34.33%			38,741,527	1.00%	32,285
Jan 10	2,347,188		2,347,188	9	38.43%			36,426,624	1.00%	30,356
Feb 10	2,347,188		2,347,188	10	42.54%			34,109,792	1.00%	28,425
Mar 10	2,347,188		2,347,188	11	46.64%			31,791,029	1.00%	26,493
Apr 10	2,347,188		2,347,188	12	50.74%			29,470,334	1.00%	24,559
May 10	2,347,188		2,347,188	13	54.85%			27,147,706	1.00%	22,623
Jun 10	2,347,188		2,347,188	14	58.95%			24,823,141	1.00%	20,686
Jul 10	2,347,188		2,347,188	15	63.06%			22,496,640	1.00%	18,747
Aug 10	2,347,188		2,347,188	16	67.16%			20,168,199	1.00%	16,807
Sep 10	2,347,188		2,347,188	17	71.27%			17,837,819	1.00%	14,865
Oct 10	2,347,188		2,347,188	18	75.37%)			15,505,496	1.00%	12,921
Nov 10	2,347,188		2,347,188	19	79.48%			13,171,230	1.00%	10,976
Dec 10	2,347,188		2,347,188	20	83.58%			10,835,018	1.00%	9,029
Jan 11	2,347,188		2,347,188	21	87.69%			8,496,860	1.00%	7,081
Feb 11	2,347,188		2,347,188	22	91.79%			6,156,753	1.00%	5,131
Mar 11	2,347,188		2,347,188	23	95.90%			3,814,696	1.00%	3,179
Apr 11	2,347,188		2,347,188	24	100.00%			1,470,688	1.00%	1,226
May 11	0		0	25	100.00%			1,471,913	1.00%	1,227
	$56,332,500	$851,441	$57,183,941				$58,090,596			$580,045
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 2/11/09
$49,290,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B (LIMITED TAX GENERAL OBLIGATION)
SCHEDULE OF ESTIMATED REVENUES AND EXPENDITURES
Tax [1]
	Increment	Parking [2]		$49,290,000			Dated	5/1/09		
F/Y	Revenue	System	Net	Interest	Interest		Principal			Annual
End	Share	Share	Revenue	Due	Due	Interest	Due		Capitalized	Excess or
6-30,	25.79%	74.21%	For Debt	Nov-1	May-1	Rate	May-1	Total	Interest	(Shortfall)
2009	0	0	0	0	0	0.000%	0	0		0
2010	699,238	2,011,712	2,710,950	1,355,475	1,355,475	5.500%	0	2,710,950	0	0
2011	699,238	2,011,712	2,710,950	1,355,475	1,355,475	5.500%	0	2.710,950	0	0
2012	798.542	2,297,408	3,095,950	1,355,475	1,355,475	5.500%	385,000	3,095,950	0	0
2013	907,859	2,611,916	3,519,775	1,344,888	1,344,888	5.500%	830,000	3,519,775		0
2014	907,692	2,611,433	3,519,125	1,322,063	1,322,063	5.500%	875,000	3,519,125		0
2015	908,175	2,612,825	3,521,000	1,298,000	1,298,000	5.500%	925,000	3,521,000		0
2016	907,949	2,612,176	3,520,125	1,272,563	1,272,563	5.500%	975,000	3,520,125		0
2017	907,014	2,609,486	3,516,500	1,245,750	1,245,750	5.500%	1,025,000	3,516,500		0
2018	907,949	2,612,176	3,520,125	1,217,563	1,217,563	5.500%	1,085,000	3,520,125		0
2019	908,033	2,612,417	3,520,450	1,187,725	1,187,725	5.500%	1,145,000	3,520,450		0
2020	907.266	2,610,209	3,517,475	1,156,238	1,156,238	5.500%	1,205,000	3,517,475		0
2021	906,937	2,609,263	3,516,200	1,123,100	1,123,100	5.500%	1,270,000	3,516,200		0
2022	906,976	2,609,374	3,516,350	1,088.175	1,088,175	5.500%	1,340,000	3,516,350		0
2023	907.311	2,610,339	3,517,650	1,051,325	1,051,325	5.500%	1,415,000	3,517,650		0
2024	907,872	2,611,953	3,519,825	1,012,413	1,012,413	5.500%	1,495,000	3,519,825		0
2025	907,298	2,610,302	3,517,600	971,300	971,300	5.500%	1,575,000	3,517,600		0
2026	908,169	2,612,806	3,520,975	927,988	927,988	5.500%	1,665,000	3,520,975		0
2027	907,762	2,611,638	3,519,400	882,200	882,200	5.500%	1,755,000	3,519,400		0
2028	907,369	2,610,506	3,517,875	833,938	833,938	5.500%	1,850,000	3,517,875		0
2029	908,207	2,612,918	3,521,125	783.063	783,063	5.500%	1,955,000	3,521,125		0
2030	907,556	2,611,044	3,518,600	729,300	729,300	5.500%	2,060,000	3,518,600		0
2031	907,995	2,612,305	3,520,300	672,650	672,650	5.500%	2,175,000	3,520,300		0
2032	908,091	2,612,584	3,520,675	612,838	612,838	5.500%	2,295,000	3,520,675		0
2033	907,775	2,611,675	3,519,450	549,725	549,725	5.500%	2,420,000	3,519,450		0
2034	906,976	2,609,374	3,516,350	483,175	483,175	5.500%	2,550,000	3,516,350		0
2035	906,911	2,609,189	3,516,100	413,050	413,050	5.500%	2,690,000	3,516,100		0
2036	907,440	2,610,710	3,518,150	339,075	339,075	5.500%	2,840,000	3,518,150		0
2037	907,131	2,609,819	3,516,950	260,975	260,975	5.500%	2,995,000	3,516,950		0
2038	907,201	2,610,024	3,517,225	178,613	178,613	5.500%	3,160,000	3,517,225		0
2039	907,511	2,610,914	3,518,425	91,713	91,713	5.500%	3,335,000	3,518,425		0
2040	0	0	0	0	0	0.000%	0	0		0
2041	0	0	0	0	0	0.000%	0	0		0
	26,701,446	76,820,204	103,521,650	27,115,825	27,115,825		49,290,000	103,521,650	0	
[1]  Tax Increment Revenue to fund pedestrian improvements and future development costs. [2]   Parking System Revenue to fund underground parking structure cost.
Stauder, Barch & Associates, Inc. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Ml 48108 11-Feb-09 Phone (734) 668-6688 Fax: (734) 668-6723 PRS
Page 1 of 1
Horning, Matthew
From: Joseph Morehouse [JMorehouse@a2dda.org]
Sent: Tuesday, January 20, 2009 4:20 PM
To: Horning, Matthew
Subject: Bond Information.xlsx Attachments: Bond Information.xlsx
Matt,
Here is some of the information you requested. I am still waiting for the 20 year maintenance cost projections from the engineers, however this amount will not be paid out of the Parking Fund , but from the Parking Maintenance fund. I am also waiting for the current waitlist data.
Please let me know if I left anything out.
Thanks,
Joe
4/2/2009
Bond Resolutions Page 2 of 3
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates 3989 Research Park Drive Ann Arbor, Michigan 48108
Email paul@stauderbarch.com
From: Paul Stauder [mailto:paul@stauderbarch.com] Sent: Thursday, January 08, 2009 1:53 PM To: 'Joseph Morehouse'; 'Horning, Matthew' Cc: 'BBrown@dykema.com' Subject: RE: Bond Resolutions
Joe,
Thank you, Paul
Paul R. Stauder, First Vice President
Stauder, Barch & Associates
3989 Research Park Drive
Ann Arbor, Michigan 48108
Phone 734-668-6688
Cell 734-646-5485
Fax 734-668-6723
Email paul@stauderbarch.com
From: Joseph Morehouse [mailto:JMorehouse@a2dda.org]
Sent: Thursday, January 08, 2009 9:32 AM
To: Horning, Matthew
Cc: Paul Stauder; BBrown@dykema.com
Subject: RE: Bond Resolutions
Matt,
The DDA has estimated a 20 year bond term, but would not object to 30 years since it looks like we also underestimated the rate of the bonds.
The specific improvements are:
• A 777 space 4 story underground parking structure
• A new street on the North side of the Ann Arbor Public Library going from Fifth Avenue to Division Street
• A new alley that extends from Fifth Avenue on the northern border of the current parking lot to the new street being created next to the Library
• New utility improvements under Division Street
4/2/2009
Bond Resolutions
•    The ability of the new parking structure to have up to a25 story building built on top of it
Page 3 of 3
The cash flows for the new parking structure are contained in the 10-year plan that I have attached to this email since the debt repayment for this project is from the entire parking system. I do not have any estimates of TIF capture from future development since we have not even begun planning for what that development might be and even whether it would be public or privately owned.
I had estimated the payment beginning in FY 2011, but could I have move those payments up to FY 2010 on the 10-year plan attached.
Please let me know if you have any further questions. Thank you, Joe
From: Horning, Matthew [mailto:MHorning@a2gov.org]
Sent: Wednesday, January 07, 2009 3:04 PM
To: Joseph Morehouse; paul@stauderbarch.com; Brown, Bowden
Subject: Bond Resolutions
Importance: High
All,
The DDA Board met today and decided to postpone the Council action until the 2nd meeting in February. Despite this, we would still like to complete the resolutions as soon as possible.
It is my understanding that the following items need to be addressed to complete the resolutions:
1. Maximum interest rate for the NOI resolution
2. Term of bonds (20 v. 30-year)
3. Specific structures and improvements that make up the $56.4 million total (pedestrian improvements and future development)
4. Cash flows for improvements and future development (if any)
5. Explanation of FY10/11 start to repayment schedule
I assume Paul will provide answer to #1. I can make the changes to the NOI resolution. Joe: Can you provide answers to #2-5?
Please let me know if I've neglected any required items to complete these resolutions.
Thanks, Matt
Matthew V. Horning, Treasurer City of Ann Arbor Telephone - (734) 794-6541 Facsimile - (734) 997-1271
4/2/2009
$48,050,000 CITY OF ANN ARBOR COUNTY OF WASHTENAW, STATE OF MICHIGAN GENERAL OBLIGATION CAPITAL IMPROVEMENT PARKING FACILITY BONDS, SERIES 2009B
(LIMITED TAX GENERAL OBLIGATION)
PROJECT COST BREAKDOWN	
CAPITAL COSTS:	
Library Lot Underground Structure	$41,802,600
Pedestrian Improvemments	9,246,300
Future Development	5,283,600
TOTAL CAP ITAL COSTS:	$56,332,500
Legal, Financial, Advertising, Etc.	106,896
Bond Discount                     1.50%	720,750
Bond Insurance	0
Capitalized Interest	0
Total Project Cost	$57,160,146
Less Construction Fund Earnings	(536,124)
Less DDA Equity Contribution	(8,574,022)
Less Other	0
AMOUNT OF BOND ISSUE	$48,050,000
Estimated Construction Fund Deposit from Bond Proceeds	$47,222,354
SCHEDULE OF ESTIMATED CONSTRUCTION FUND EARNINGS
EXPENDITURE ACTIVITY Construction
	Local	Financing						Fund	Interest	Interest
Date	Expenditures	Costs	Totals	Month	Payout %		Receipts	Balance	Rate	Earned
May 09						Fund Equity	$8,574,022	$8,574,022		
May 09	$2,347,188	$827,646	$3,174,834	1	5.55%	Bond Funds	48,050,000	53,449,188	1.00%	$44,541
Jun 09	2,347,188		2,347,188	2	9.66%			51,146,542	1.00%	42,622
Jul 09	2,347,188		2,347,188	3	13.77%			48,841,976	1.00%	40,702
Aug 09	2,347,188		2,347,188	4	17.87%			46,535,490	1.00%	38,780
Sep 09	2,347,188		2,347,188	5	21.98%			44,227,082	1.00%	36,856
Oct 09	2,347,188		2,347,188	6	26.09%			41,916,751	1.00%	34,931
Nov 09	2,347,188		2,347,188	7	30.19%			39,604,494	1.00%	33,004
Dec 09	2,347,188		2,347,188	8	34.30%			37,290,310	1.00%	31,075
Jan 10	2,347,188		2,347,188	9	38.40%			34,974,198	1.00%	29,145
Feb 10	2,347,188		2,347,188	10	42.51%			32,656,156	1.00%	27,213
Mar 10	2,347,188		2,347,188	11	46.62%			30,336,182	1.00%	25,280
Apr 10	2,347,188		2,347,188	12	50.72%			28,014,274	1.00%	23,345
May 10	2,347,188		2,347,188	13	54.83%			25,690,432	1.00%	21,409
Jun 10	2,347,188		2,347,188	14	58.94%			23,364,653	1.00%	19,471
Jul 10	2,347,188		2,347,188	15	63.04%			21,036,936	1.00%	17,531
Aug 10	2,347,188		2,347,188	16	67.15%			18,707,280	1.00%	15,589
Sep 10	2,347,188		2,347,188	17	71.26%			16,375,681	1.00%	13,646
Oct 10	2,347,188		2,347,188	18	75.36%			14,042,140	1.00%	11,702
Nov 10	2,347,188		2,347,188	19	79.47%			11,706,655	1.00%	9,756
Dec 10	2,347,188		2,347,188	20	83.57%			9,369,223	1.00%	7,808
Jan 11	2,347,188		2,347,188	21	87.68%			7,029,843	1.00%	5,858
Feb 11	2,347,188		2,347,188	22	91.79%			4,688,514	1.00%	3,907
Mar 11	2,347,188		2,347,188	23	95.89%			2,345,233	1.00%	1,954
Apr 11	2,347,188		2,347,188	24	100.00%			(0)	1.00%	(0)
May 11	0		0	25	100.00%			(0)	1.00%	(0)
	$56,332,500	$827,646	$57,160,146				$56,624,022			$536,124
STAUDER, BARCH & ASSOCIATES, INC. Municipal Bond Financial and Marketing Consultants 3989 Research Park Drive
Ann Arbor, Michigan 48108 prs Phone (734) 668-6688 Fax (734) 668-6723 1/16/09
Bond Resolutions
Page 1 of 3
Horning, Matthew
From:    Paul Stauder [paul@stauderbarch.com] Sent:     Monday, January 12, 2009 8:57 AM To:       Horning, Matthew Cc:       'Brown, Bowden' Subject: RE: Bond Resolutions
Thank you, Paul
Paul R. Stauder, First Vice President Stauder, Barch & Associates 3989 Research Park Drive Ann Arbor, Michigan 48108 Phone 734-668-6688 Cell' Fax 732
Email paul@stauderbarch.com
From: Homing, Matthew [mailto:MHorning@a2gov.org] Sent: Monday, January 12, 2009 8:49 AM To: Paul Stauder Cc: Brown, Bowden Subject: RE: Bond Resolutions
Good morning, Paul,
What shall we use as our "not to exceed" number for the notice of intent?
Matthew V. Horning, Treasurer City of Ann Arbor Telephone - (734) 794-6541 Facsimile - (734) 997-1271
From: Paul Stauder [mailto:paul@stauderbarch.com]
Sent: Friday, January 09, 2009 10:09 AM
To: Morehouse, Joseph; Horning, Matthew
Cc: BBrown@dykema.com
Subject: RE: Bond Resolutions
Importance: High
Matt and Joe - The attached reflects bonding for all of the projects this Spring in a single bond issue as described by Joe this morning.
Bowden - What more do you need from me at this point? Do you want full bond specifications?
4/2/2009