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HomeMy WebLinkAbout2022/07/06 - Belfair Sewer Packet MASON COUNTY BRIEFING ITEM SUMMARY FORM TO: BOARD OF MASON COUNTY COMMISSIONERS FROM: Loretta Swanson, Director and Richard Dickinson, Deputy Director DEPARTMENT: Public Works/Utilities and Waste Management EXT: 199 BRIEFING DATE: INTERNAL REVIEW (please check all that apply):  Budget/Finance  Human Resources  Legal  Information Technology  Other – please explain ITEM: Award Belfair Water Reclamation Facility Sewer Extension Project EXECUTIVE SUMMARY: On April 5, 2022 Commissioners authorized Public Works/Utilities and Waste Management to advertise and set a bid opening for a trunk extension of the Belfair sewer. The apparent low bidder is Pape and Sons Construction of Gig Harbor, WA, with a bid of $4,231,500.00. Estimated overall costs to complete construction range from $5.03 to $5.2 million. Commerce grant and loan funds are available to pay for construction-related expenses including real estate needs. Expenditure Potential Revenue Source Land $4,000 - 151,000 Existing Grant Construction $4,231,500 Loan and/or ARPA Construction Services $792,000 Existing Grant Estimated Total Construction $5,027,500 - 5,174,500 Critical dates to consider: ▪ The County has 60 days from bid opening to award (July 26th). ▪ The Commerce Loan includes financial incentives if the project is completed one or two years prior to April 9, 2025. The incentives are referred to on the attached spreadsheet as PWB Funding Option A and B. BUDGET IMPACTS: The existing Commerce grant has a remaining balance of ~ $1,100,000. Land can be acquired under this grant. A scope and schedule change are needed to pay for construction management/engineering services from the grant. A Commerce Loan and/or ARPA funds (and potentially any remaining grant funds) are available for construction. The attached spreadsheet analyzes financial scenarios. Assumptions across all scenarios are: ▪ Project cost is $5,000,000. ▪ Commerce loan is reduced by 5% (loan forgiveness). ▪ Revenue assumptions: o CFC’s collected from existing, permitted projects only. No CFC revenue is assumed after 2029. o CFC’s are reserved and used for future capital needs. o CFC’s will be adjusted once construction is complete. o Utility rates are presented under three different scenarios: a maximum tolerable rate w/annual 3% increase; “Do nothing” w/no rate increase; and phased rate increase over time to meet Max Tolerable (2.2% of county average median income), o Utility rate revenue assumed for existing, permitted projects. o Utility rate revenue has a 5% delinquency rate. ▪ Expenditure assumptions: o Utility operating expenditures increase 3% annually. o Existing debt is paid off in 2027 with REET reserves. o New debt service is assumed to begin in 2024. o Capital expenditures are according to planned facility expansion and major replacement needs. Two financial scenarios are presented on the spreadsheet tabs: the first assumes a combination of $3.5 million loan and $1.5 million ARPA funds to pay for a $5 million project. The second assumes a $5 million loan. There are two loan options: PWB Funding Option B (a 20-year loan @ 0.54% interest) and PWB Funding Option A (22- year loan @ 0.79% interest). PWB Option B is preferable, but the project must be closed out no later than April 9, 2024. RECOMMENDED OR REQUESTED ACTION: Recommend the Board award the Belfair Water Reclamation Facility Sewer Extension project to the low bidder, Pape and Sons Construction out of Gig Harbor, Washington with a bid of $4,231,500.00. ATTACHMENT: 1. Financial Analysis Spreadsheet 2. Debt Repayment Schedule YEAR 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 Res 318 318 338 368 384 400 420 441 462 462 462 462 462 462 462 462 MF 0/127 228 228 228 228 228 228 228 228 228 228 228 228 228 228 228 Comm 104 104 104 104 104 104 104 104 104 104 104 104 104 104 104 104 422/549 650 670 700 716 732 752 773 794 794 794 794 794 794 794 794 CFC's Earned 641,300.00$ 510,000.00$ 226,000.00$ 339,000.00$ 208,800.00$ 208,800.00$ 261,000.00$ 274,050.00$ 274,050.00$ 2,943,000.00$ YEAR 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 421/549 650 670 700 716 732 752 773 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 114.73$ 118.17$ 121.72$ 125.37$ 129.13$ 133.00$ 136.99$ 141.10$ 145.34$ 149.70$ 154.19$ 158.81$ 163.58$ 168.48$ 173.54$ 178.75$ 184.11$ 189.63$ 195.32$ 201.18$ 207.22$ 213.43$ 219.83$ 226.43$ 233.22$ 240.22$ 247.43$ 599,664.28$ 783,508.06$ 834,764.79$ 902,683.78$ 902,683.78$ 1,006,176.91$ 1,067,596.76$ 1,133,404.82$ 1,202,200.53$ 1,238,266.55$ 1,275,414.55$ 1,313,676.98$ 1,353,087.29$ 1,393,679.91$ 1,435,490.31$ 1,478,555.02$ 1,522,911.67$ 1,568,599.02$ 1,615,656.99$ 1,664,126.70$ 1,714,050.50$ 1,765,472.01$ 1,818,436.18$ 1,872,989.26$ 1,929,178.94$ 1,987,054.31$ 2,046,665.94$ 37,425,995.84$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 509,771.52$ 636,503.04$ 658,391.04$ 691,223.04$ 708,733.44$ 726,243.84$ 748,131.84$ 771,114.24$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 20,537,948.16$ $ 96.00 $ 99.84 $ 103.83 $ 107.99 $ 112.31 $ 116.80 $ 121.47 $ 126.33 $ 131.38 $ 136.64 $ 142.10 $ 147.79 $ 153.70 $ 159.85 $ 166.24 $ 172.89 $ 179.81 $ 187.00 $ 194.48 $ 202.26 $ 210.35 $ 218.76 $ 227.51 $ 236.61 $ 246.08 $ 255.92 $ 266.16 $ 509,771.52 $ 661,963.16 $ 712,115.75 $ 777,531.91 $ 829,117.88 $ 883,586.68 $ 946,625.45 $ 1,014,733.73 $ 1,086,776.08 $ 1,130,247.13 $ 1,175,457.01 $ 1,222,475.29 1,271,374.31$ 1,322,229.28$ 1,375,118.45$ 1,430,123.19$ 1,487,328.11$ 1,546,821.24$ 1,608,694.09$ 1,673,041.85$ 1,739,963.53$ 1,809,562.07$ 1,881,944.55$ 1,957,222.33$ 2,035,511.22$ 2,116,931.67$ 2,201,608.94$ 36,407,876.42$ $ 725,970.00 $ 747,749.10 $ 770,181.57 $ 793,287.02 $ 817,085.63 $ 841,598.20 $ 866,846.15 $ 892,851.53 $ 919,637.08 $ 947,226.19 $ 975,642.97 $ 1,004,912.26 $ 1,035,059.63 $ 1,066,111.42 $ 1,098,094.76 $ 1,131,037.61 $ 1,164,968.73 $ 1,199,917.80 $ 1,235,915.33 $ 1,272,992.79 $ 1,311,182.57 $ 1,350,518.05 $ 1,391,033.59 $ 1,432,764.60 $ 1,475,747.54 $ 1,520,019.96 $ 1,565,620.56 29,553,972.65$ $ 778,351.46 $ 1,021,473.70 $ 1,101,301.39 $ 1,097,261.26 $ 1,102,413.75 $ 1,101,156.24 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 $ 175,426.43 9,008,780.68$ $ 1,834,321.46 $ 2,442,014.94 $ 2,451,907.39 $ 2,057,136.28 $ 5,299,910.38 $ 1,942,754.44 $ 1,224,307.58 $ 1,255,774.01 $ 1,288,184.44 $ 1,321,567.18 $ 1,151,069.40 $ 1,180,338.69 $ 1,427,845.37 $ 1,464,897.16 $ 1,504,117.68 $ 1,543,978.43 $ 1,340,395.16 $ 1,375,344.23 $ 1,670,880.15 $ 1,715,743.76 $ 1,761,953.28 $ 1,809,549.09 $ 1,391,033.59 $ 1,432,764.60 $ 1,475,747.54 $ 1,520,019.96 $ 1,565,620.56 46,449,176.75$ $ 778,351.46 $ 1,021,473.70 $ 1,090,574.94 $ 1,086,534.81 $ 1,091,687.30 $ 1,090,429.79 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 $ 164,699.98 164,699.98$ 164,699.98$ 9,123,651.64$ $ 1,834,321.46 $ 2,442,014.94 $ 2,441,180.94 $ 2,046,409.83 $ 5,289,183.93 $ 1,932,027.99 $ 1,213,581.13 $ 1,245,047.56 $ 1,277,457.99 $ 1,310,840.73 $ 1,140,342.95 $ 1,169,612.24 $ 1,417,118.92 $ 1,454,170.71 $ 1,493,391.23 $ 1,533,251.98 $ 1,329,668.71 $ 1,364,617.78 $ 1,660,153.70 $ 1,705,017.31 $ 1,751,226.83 $ 1,798,822.64 $ 1,555,733.57 $ 1,597,464.58 $ 1,475,747.54 $ 1,520,019.96 $ 1,565,620.56 46,564,047.71$ 330,000.00$ 672,792.14$ 580,424.43$ 166,588.00$ 3,380,411.00$ 182,035.00$ 187,496.05$ 193,120.93$ 198,914.56$ 217,359.31$ 223,359.31$ 230,596.49$ 237,514.39$ 259,538.39$ 267,324.54$ 275,344.28$ 283,604.61$ 7,886,423.43$ -$ -$ 555,511.90$ 543,516.36$ 115,913.25$ 918,958.50$ 182,035.00$ 187,496.05$ 193,120.93$ 198,914.56$ 47,533.46$ 2,943,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 294,140.74$ 297,163.73$ 300,966.87$ 328,555.98$ 356,972.77$ 386,242.06$ 416,389.43$ 447,441.21$ 479,424.56$ 512,367.40$ 546,298.53$ 581,247.59$ 617,245.12$ 654,322.59$ 692,512.37$ 731,847.84$ 596,936.96$ 638,667.96$ 681,650.90$ 725,923.33$ 771,523.93$ 15,857,841.82$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 169,825.85$ 223,359.31$ 230,596.49$ 237,514.39$ 259,538.39$ 267,324.54$ 275,344.28$ 283,604.61$ 3,941,657.80$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,451,907.40$ 2,057,136.29$ 2,877,691.94$ 1,526,243.84$ 1,224,307.58$ 1,255,774.02$ 1,288,184.44$ 1,321,567.18$ 1,151,069.41$ 1,180,338.70$ 1,427,845.38$ 1,464,897.16$ 1,504,117.69$ 1,543,978.43$ 1,340,395.17$ 1,375,344.23$ 1,670,880.15$ 1,715,743.77$ 1,761,953.29$ 1,809,549.09$ 1,391,033.60$ 1,432,764.60$ 1,475,747.54$ 1,520,019.97$ 1,565,620.57$ 43,610,447.78$ -$ -$ 0.00$ 0.00$ (2,422,218.44)$ (416,510.60)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ (2,838,728.98)$ 530,051.78$ 489,791.65$ 29,604.37$ 1,084,452.20$ 182,034.99$ 187,496.05$ 193,120.93$ 191,320.06$ 55,127.98$ 2,943,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 95,647.15$ 53,544.23$ 8,287.43$ 4,957,478.80$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 101,343.09$ 142,667.89$ 128,999.24$ 113,855.24$ 62,186.07$ 42,701.91$ 21,989.76$ 2,608,293.13$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,451,907.39$ 2,057,136.28$ 3,163,570.08$ 1,683,586.68$ 1,224,307.58$ 1,255,774.01$ 1,288,184.44$ 1,321,567.18$ 1,175,457.01$ 1,222,475.29$ 1,427,845.38$ 1,464,897.16$ 1,504,117.68$ 1,543,978.43$ 1,487,328.11$ 1,546,821.24$ 1,670,880.15$ 1,715,743.76$ 1,761,953.29$ 1,809,562.07$ 1,881,944.55$ 1,957,222.33$ 2,035,511.22$ 2,116,931.67$ 2,201,608.94$ 47,246,648.35$ -$ 0.00$ 0.00$ 0.00$ (2,136,340.30)$ (259,167.76)$ 0.00$ 0.00$ 0.00$ 0.00$ 24,387.61$ 42,136.60$ 0.00$ 0.00$ 0.00$ 0.00$ 146,932.95$ 171,477.01$ 0.00$ 0.00$ 0.00$ 12.98$ 490,910.96$ 524,457.73$ 559,763.69$ 596,911.71$ 635,988.38$ 797,471.60$ 408,506.89$ 367,142.61$ 1,358,250.51$ 156,710.82$ 122,369.19$ 85,983.91$ 83,300.63$ 74,758.08$ 71,217.25$ 68,627.38$ 65,423.41$ 55,223.17$ 25,486.18$ 2,943,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 4,800,000.00$ 104,657.18$ 450,000.00$ 450,000.00$ 354,452.50$ 450,000.00$ 26,130.89$ 47,902.79$ 44,077.08$ 1,927,220.43$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,451,907.39$ 2,057,136.28$ 3,510,934.29$ 1,806,176.91$ 1,224,307.58$ 1,255,774.01$ 1,288,184.44$ 1,321,567.18$ 1,275,414.55$ 1,313,676.98$ 1,427,845.37$ 1,464,897.16$ 1,504,117.68$ 1,543,978.43$ 1,522,911.67$ 1,568,599.02$ 1,670,880.15$ 1,715,743.76$ 1,761,953.28$ 1,809,549.09$ 1,818,436.18$ 1,872,989.26$ 1,929,178.94$ 1,987,054.31$ 2,046,665.94$ 47,426,216.27$ 0.00$ 0.00$ 0.00$ 0.00$ (1,788,976.09)$ (136,577.53)$ 0.00$ 0.00$ 0.00$ 0.00$ 124,345.14$ 133,338.29$ 0.00$ 0.00$ 0.00$ 0.00$ 182,516.50$ 193,254.79$ 0.00$ 0.00$ 0.00$ 0.00$ 427,402.58$ 440,224.66$ 453,431.40$ 467,034.34$ 481,045.37$ 977,039.52$ 555,511.90$ 532,789.91$ 105,186.80$ 940,411.40$ 182,035.00$ 187,496.05$ 193,120.93$ 198,914.56$ 47,533.46$ 2,943,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 283,414.29$ 286,437.28$ 290,240.42$ 317,829.53$ 346,246.32$ 375,515.61$ 405,662.98$ 436,714.76$ 468,698.10$ 501,640.95$ 535,572.08$ 570,521.14$ 606,518.67$ 643,596.14$ 681,785.92$ 721,121.39$ 761,636.94$ 803,367.94$ 681,650.90$ 725,923.33$ 771,523.93$ 16,015,618.57$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 169,825.85$ 223,359.31$ 230,596.50$ 237,514.39$ 259,538.39$ 267,324.54$ 275,344.28$ 283,604.61$ 3,941,657.81$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,441,180.95$ 2,046,409.84$ 2,899,144.84$ 1,526,243.84$ 1,213,581.13$ 1,245,047.57$ 1,277,457.99$ 1,310,840.73$ 1,140,342.96$ 1,169,612.25$ 1,417,118.93$ 1,454,170.71$ 1,493,391.24$ 1,533,251.98$ 1,329,668.72$ 1,364,617.78$ 1,660,153.70$ 1,705,017.32$ 1,751,226.84$ 1,798,822.64$ 1,555,733.58$ 1,597,464.58$ 1,475,747.54$ 1,520,019.97$ 1,565,620.57$ 43,768,224.53$ -$ -$ 0.00$ 0.00$ (2,390,039.10)$ (405,784.15)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ (2,795,823.18)$ 530,051.78$ 479,065.20$ 18,877.92$ 1,105,905.10$ 182,035.00$ 187,496.05$ 190,681.91$ 180,593.61$ 68,293.44$ 2,943,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 84,920.69$ 42,817.78$ 4,927,738.47$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 77,451.18$ 131,941.44$ 118,272.79$ 103,128.79$ 51,459.62$ 31,975.46$ 11,263.31$ 2,520,042.52$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,441,180.94$ 2,046,409.83$ 3,185,022.98$ 1,683,586.68$ 1,213,581.13$ 1,245,047.56$ 1,277,457.99$ 1,310,840.73$ 1,175,457.01$ 1,222,475.29$ 1,417,118.93$ 1,454,170.71$ 1,493,391.23$ 1,533,251.98$ 1,487,328.11$ 1,546,821.24$ 1,660,153.70$ 1,705,017.31$ 1,751,226.84$ 1,809,562.07$ 1,881,944.55$ 1,957,222.33$ 2,035,511.22$ 2,116,931.67$ 2,201,608.94$ 47,128,657.40$ -$ 0.00$ 0.00$ 0.00$ (2,104,160.95)$ (248,441.31)$ 0.00$ 0.00$ 0.00$ 0.00$ 35,114.06$ 52,863.05$ 0.00$ 0.00$ 0.00$ 0.00$ 157,659.40$ 182,203.46$ 0.00$ 0.00$ 0.00$ 10,739.43$ 326,210.98$ 359,757.75$ 559,763.69$ 596,911.71$ 635,988.38$ 564,609.69$ 408,506.89$ 356,416.16$ 1,379,583.61$ 145,984.37$ 111,642.74$ 75,257.46$ 72,574.18$ 64,031.63$ 60,490.80$ 57,900.93$ 54,696.96$ 44,496.72$ 40,890.62$ 37,176.34$ 33,350.63$ 2,943,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 4,800,000.00$ 104,657.18$ 450,000.00$ 450,000.00$ 340,011.01$ 450,000.00$ 1,794,668.19$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,441,180.94$ 2,042,694.79$ 3,532,267.39$ 1,806,176.91$ 1,213,581.13$ 1,245,047.56$ 1,277,457.99$ 1,310,840.73$ 1,275,414.55$ 1,313,676.98$ 1,417,118.92$ 1,454,170.71$ 1,493,391.23$ 1,533,251.98$ 1,522,911.67$ 1,568,599.02$ 1,660,153.70$ 1,705,017.31$ 1,751,226.83$ 1,798,822.64$ 1,818,436.18$ 1,872,989.26$ 1,929,178.94$ 1,987,054.31$ 2,046,665.94$ 47,293,664.03$ 0.00$ 0.00$ 0.00$ (3,715.04)$ (1,756,916.54)$ (125,851.08)$ 0.00$ 0.00$ 0.00$ 0.00$ 135,071.59$ 144,064.74$ 0.00$ 0.00$ 0.00$ 0.00$ 193,242.95$ 203,981.24$ 0.00$ 0.00$ 0.00$ 0.00$ 262,702.60$ 275,524.68$ 453,431.40$ 467,034.34$ 481,045.37$ 729,616.32$ 2022 96.00$ 1,152.00$ 509,771.52$ 670,003.20$ 636,503.04$ 2022 114.73$ 1,376.76$ 599,664.28$ 800,723.62$ 760,687.44$ 2023 99.84$ 1,198.08$ 504,391.68$ 661,963.16$ 661,963.16$ 2023 118.17$ 1,418.06$ 597,004.44$ 783,508.06$ 783,508.06$ 2024 103.83$ 1,246.00$ 524,567.35$ 688,441.69$ 712,115.75$ 2024 121.72$ 1,460.60$ 614,914.57$ 807,013.30$ 834,764.79$ 2025 107.99$ 1,295.84$ 545,550.04$ 715,979.36$ 777,531.91$ 2025 125.37$ 1,504.42$ 633,362.01$ 831,223.70$ 902,683.78$ 2026 112.31$ 1,347.68$ 567,372.04$ 744,618.53$ 829,117.88$ 2026 129.13$ 1,549.56$ 652,362.87$ 856,160.41$ 953,317.54$ 2027 116.80$ 1,401.58$ 590,066.92$ 774,403.27$ 883,586.68$ 2027 133.00$ 1,596.04$ 671,933.76$ 881,845.22$ 1,006,176.91$ 2028 121.47$ 1,457.65$ 613,669.60$ 805,379.40$ 946,625.45$ 2028 136.99$ 1,643.92$ 692,091.77$ 908,300.58$ 1,067,596.76$ 2029 126.33$ 1,515.95$ 638,216.39$ 837,594.58$ 1,014,733.73$ 2029 141.10$ 1,693.24$ 712,854.52$ 935,549.60$ 1,133,404.82$ 2030 131.38$ 1,576.59$ 663,745.04$ 871,098.36$ 1,086,776.08$ 2030 145.34$ 1,744.04$ 734,240.16$ 963,616.08$ 1,202,200.53$ 2031 136.64$ 1,639.66$ 690,294.84$ 905,942.30$ 1,130,247.13$ 2031 149.70$ 1,796.36$ 756,267.36$ 992,524.57$ 1,238,266.55$ 47,533.46$ 2032 142.10$ 1,705.24$ 717,906.64$ 942,179.99$ 1,175,457.01$ 2032 154.19$ 1,850.25$ 778,955.38$ 1,022,300.30$ 1,275,414.55$ 217,359.31$ 2033 147.79$ 1,773.45$ 746,622.90$ 979,867.19$ 1,222,475.29$ 2033 158.81$ 1,905.76$ 802,324.04$ 1,052,969.31$ 1,313,676.98$ 2034 153.70$ 1,844.39$ 776,487.82$ 1,019,061.87$ 1,271,374.31$ 2034 163.58$ 1,962.93$ 826,393.77$ 1,084,558.39$ 1,353,087.29$ 2035 159.85$ 1,918.16$ 807,547.33$ 1,059,824.35$ 1,322,229.28$ 2035 168.48$ 2,021.82$ 851,185.58$ 1,117,095.14$ 1,393,679.91$ 72036 166.24$ 1,994.89$ 839,849.22$ 1,102,217.32$ 1,375,118.45$ 72036 173.54$ 2,082.47$ 876,721.15$ 1,150,608.00$ 1,435,490.31$ 2037 172.89$ 2,074.69$ 873,443.19$ 1,146,306.02$ 1,430,123.19$ 2037 178.75$ 2,144.95$ 903,022.78$ 1,185,126.24$ 1,478,555.02$ 2038 179.81$ 2,157.67$ 908,380.92$ 1,192,158.26$ 1,487,328.11$ 2038 184.11$ 2,209.30$ 930,113.46$ 1,220,680.03$ 1,522,911.67$ 2039 187.00$ 2,243.98$ 944,716.16$ 1,239,844.59$ 1,546,821.24$ 2039 189.63$ 2,275.57$ 958,016.87$ 1,257,300.43$ 1,568,599.02$ 2040 194.48$ 2,333.74$ 982,504.80$ 1,289,438.37$ 1,608,694.09$ 2040 195.32$ 2,343.84$ 986,757.37$ 1,295,019.44$ 1,615,656.99$ 2041 202.26$ 2,427.09$ 1,021,805.00$ 1,341,015.91$ 1,673,041.85$ 2041 201.18$ 2,414.16$ 1,016,360.09$ 1,333,870.02$ 1,664,126.70$ 2042 210.35$ 2,524.17$ 1,062,677.20$ 1,394,656.54$ 1,739,963.53$ 2042 207.22$ 2,486.58$ 1,046,850.90$ 1,373,886.12$ 1,714,050.50$ 2043 218.76$ 2,625.14$ 1,105,184.28$ 1,450,442.80$ 1,809,562.07$ 2043 213.43$ 2,561.18$ 1,078,256.42$ 1,415,102.71$ 1,765,472.01$ 2044 227.51$ 2,730.15$ 1,149,391.65$ 1,508,460.52$ 1,881,944.55$ 2044 219.83$ 2,638.01$ 1,110,604.12$ 1,457,555.79$ 1,818,436.18$ 2045 236.61$ 2,839.35$ 1,195,367.32$ 1,568,798.94$ 1,957,222.33$ 2045 226.43$ 2,717.15$ 1,143,922.24$ 1,501,282.46$ 1,872,989.26$ 2046 246.08$ 2,952.93$ 1,243,182.01$ 1,631,550.89$ 2,035,511.22$ 2046 233.22$ 2,798.67$ 1,178,239.91$ 1,546,320.94$ 1,929,178.94$ 2047 255.92$ 3,071.04$ 1,292,909.29$ 1,696,812.93$ 2,116,931.67$ 2047 240.22$ 2,882.63$ 1,213,587.10$ 1,592,710.56$ 1,987,054.31$ 2048 266.16$ 3,193.89$ 1,344,625.67$ 1,764,685.45$ 2,201,608.94$ 2048 247.43$ 2,969.11$ 1,249,994.72$ 1,640,491.88$ 2,046,665.94$ 2022 96.00$ 1,152.00$ 509,771.52$ 670,003.20$ 636,503.04$ 2023 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 636,503.04$ 2024 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 658,391.04$ 2025 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 691,223.04$ 2026 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 708,733.44$ 2027 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 726,243.84$ 2028 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 748,131.84$ 2029 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 771,114.24$ 2030 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2031 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2032 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2033 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2034 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2035 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 72036 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2037 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2038 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2039 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2040 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2041 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2042 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2043 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2044 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2045 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2046 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2047 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2048 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ O&M+Debt Service+Capital Exp .09 Tax Created and updated 06/24/2022 @ 1425hrs ARPA Rate/ERU Capital expenditures CFC's (Used) Assumptions O&M for 2022 is actual. Escalates 3% annually for assumed inflation REET .09 Tax 5% delinquency rate CFC's used for future Capital costs Total Fund by year Deficit / Surplus REET PWB Funding Option B (20 years @ 0.54%) Current Rate no annual increase Rate/ERU (no increase) Revenue (no increase) Current Rate w/increase equal to 1%>CPI Max Tolerable rate Deficit / Surplus CFC's (Used) REET .09 Tax ARPA CFC's (Used) REET .09 Tax Estimated max tolerable rate Deficit / Surplus CFC's (Used) REET .09 Tax ARPA Total Fund by year PWB Funding Option A (22 years @ 0.79%) Est Rev MTR Total Fund by year Deficit / Surplus Total Fund by year A l t R e v S o u r c e s Deficit / Surplus CFC's (Used) REET .09 Tax CFC's (Used) ARPA Total Fund by year A l t R e v S o u r c e s A l t R e v S o u r c e s A l t R e v S o u r c e s ARPA Total Fund by year Deficit / Surplus 5 million dollar project with a 1.5 million dollar contribution from ARPA A l t R e v S o u r c e s E x p e n s e s R a t e s A l t R e v S o u r c e s ARPA ERU's REVENUE w/1% over CPI Inc Paying off existing debt in 2027 with reserved REET 5% loan forgiveness applied to new debt DEBT Service B DEBT Service A O&M O&M+Debt Service+Capital Exp CFC's adjusted to reflect new rate in 2025 YEAR 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 Res 318 318 338 368 384 400 420 441 462 462 462 462 462 462 462 462 MF 0/127 228 228 228 228 228 228 228 228 228 228 228 228 228 228 228 Comm 104 104 104 104 104 104 104 104 104 104 104 104 104 104 104 104 422/549 650 670 700 716 732 752 773 794 794 794 794 794 794 794 794 CFC's Earned 641,300.00$ 510,000.00$ 226,000.00$ 339,000.00$ 220,800.00$ 220,800.00$ 276,000.00$ 276,000.00$ 289,800.00$ 2,999,700.00$ YEAR 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 421/549 650 670 700 716 732 752 773 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 794 114.73$ 118.17$ 121.72$ 125.37$ 129.13$ 133.00$ 136.99$ 141.10$ 145.34$ 149.70$ 154.19$ 158.81$ 163.58$ 168.48$ 173.54$ 178.75$ 184.11$ 189.63$ 195.32$ 201.18$ 207.22$ 213.43$ 219.83$ 226.43$ 233.22$ 240.22$ 247.43$ 599,664.28$ 783,508.06$ 834,764.79$ 902,683.78$ 902,683.78$ 1,006,176.91$ 1,067,596.76$ 1,133,404.82$ 1,202,200.53$ 1,238,266.55$ 1,275,414.55$ 1,313,676.98$ 1,353,087.29$ 1,393,679.91$ 1,435,490.31$ 1,478,555.02$ 1,522,911.67$ 1,568,599.02$ 1,615,656.99$ 1,664,126.70$ 1,714,050.50$ 1,765,472.01$ 1,818,436.18$ 1,872,989.26$ 1,929,178.94$ 1,987,054.31$ 2,046,665.94$ 37,425,995.84$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 96.00$ 509,771.52$ 636,503.04$ 658,391.04$ 691,223.04$ 708,733.44$ 726,243.84$ 748,131.84$ 771,114.24$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64$ 794,096.64 794,096.64$ 20,537,948.16$ $ 96.00 $ 99.84 $ 103.83 $ 107.99 $ 112.31 $ 116.80 $ 121.47 $ 126.33 $ 131.38 $ 136.64 $ 142.10 $ 147.79 $ 153.70 $ 159.85 $ 166.24 $ 172.89 $ 179.81 $ 187.00 $ 194.48 $ 202.26 $ 210.35 $ 218.76 $ 227.51 $ 236.61 $ 246.08 $ 255.92 $ 266.16 $ 509,771.52 $ 661,963.16 $ 712,115.75 $ 777,531.91 $ 829,117.88 $ 883,586.68 $ 946,625.45 $ 1,014,733.73 $ 1,086,776.08 $ 1,130,247.13 $ 1,175,457.01 $ 1,222,475.29 1,271,374.31$ 1,322,229.28$ 1,375,118.45$ 1,430,123.19$ 1,487,328.11$ 1,546,821.24$ 1,608,694.09$ 1,673,041.85$ 1,739,963.53$ 1,809,562.07$ 1,881,944.55$ 1,957,222.33$ 2,035,511.22$ 2,116,931.67$ 2,201,608.94$ 36,407,876.42$ $ 725,970.00 $ 747,749.10 $ 770,181.57 $ 793,287.02 $ 817,085.63 $ 841,598.20 $ 866,846.15 $ 892,851.53 $ 919,637.08 $ 947,226.19 $ 975,642.97 $ 1,004,912.26 $ 1,035,059.63 $ 1,066,111.42 $ 1,098,094.76 $ 1,131,037.61 $ 1,164,968.73 $ 1,199,917.80 $ 1,235,915.33 $ 1,272,992.79 $ 1,311,182.57 $ 1,350,518.05 $ 1,391,033.59 $ 1,432,764.60 $ 1,475,747.54 $ 1,520,019.96 $ 1,565,620.56 29,553,972.65$ $ 778,351.46 $ 1,021,473.70 $ 1,176,484.15 $ 1,172,444.02 $ 1,177,596.51 $ 1,176,339.00 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 $ 250,609.19 10,512,435.88$ $ 1,834,321.46 $ 2,442,014.94 $ 2,527,090.15 $ 2,132,319.04 $ 5,375,093.14 $ 2,017,937.20 $ 1,299,490.34 $ 1,330,956.77 $ 1,363,367.20 $ 1,396,749.94 $ 1,226,252.16 $ 1,255,521.45 $ 1,503,028.13 $ 1,540,079.92 $ 1,579,300.44 $ 1,619,161.19 $ 1,415,577.92 $ 1,450,526.99 $ 1,746,062.91 $ 1,790,926.52 $ 1,837,136.04 $ 1,884,731.85 $ 1,391,033.59 $ 1,432,764.60 $ 1,475,747.54 $ 1,520,019.96 $ 1,565,620.56 47,952,831.95$ $ 778,351.46 $ 1,021,473.70 $ 1,161,160.65 $ 1,157,120.52 $ 1,162,273.01 $ 1,161,015.50 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 $ 235,285.69 10,676,537.26$ $ 1,834,321.46 $ 2,442,014.94 $ 2,511,766.65 $ 2,116,995.54 $ 5,359,769.64 $ 2,002,613.70 $ 1,284,166.84 $ 1,315,633.27 $ 1,348,043.70 $ 1,381,426.44 $ 1,210,928.66 $ 1,240,197.95 $ 1,487,704.63 $ 1,524,756.42 $ 1,563,976.94 $ 1,603,837.69 $ 1,400,254.42 $ 1,435,203.49 $ 1,730,739.41 $ 1,775,603.02 $ 1,821,812.54 $ 1,869,408.35 $ 1,626,319.28 $ 1,668,050.29 $ 1,475,747.54 $ 1,520,019.96 $ 1,565,620.56 48,116,933.33$ $ 96.00 $ 105.00 $ 109.20 $ 113.57 $ 118.11 $ 122.84 $ 127.75 $ 132.86 $ 138.17 $ 143.70 $ 149.45 $ 155.43 $ 161.64 $ 168.11 $ 174.83 $ 181.83 $ 189.10 $ 196.66 $ 204.53 $ 212.71 $ 221.22 $ 230.07 $ 239.27 $ 248.84 $ 258.80 $ 269.15 $ 279.91 330,000.00$ 672,792.14$ 580,424.43$ 166,588.00$ 3,380,411.00$ 182,035.00$ 187,496.05$ 193,120.93$ 198,914.56$ 217,359.31$ 223,359.31$ 230,596.49$ 237,514.39$ 259,538.39$ 267,324.54$ 275,344.28$ 283,604.61$ 7,886,423.43$ 555,511.90$ 618,699.12$ 191,096.01$ 559,792.98$ 182,035.00$ 187,496.05$ 193,120.93$ 198,914.56$ 217,359.31$ 95,674.15$ 2,999,700.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 369,323.50$ 372,346.49$ 376,149.63$ 403,738.74$ 432,155.53$ 461,424.82$ 491,572.19$ 522,623.97$ 554,607.32$ 587,550.16$ 621,481.29$ 656,430.35$ 692,427.88$ 729,505.35$ 767,695.13$ 800,000.00$ 596,936.96$ 638,667.96$ 681,650.90$ 725,923.33$ 771,523.93$ 17,053,735.38$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 127,685.16$ 230,596.49$ 237,514.39$ 259,538.39$ 267,324.54$ 275,344.28$ 283,604.61$ 3,676,157.80$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,527,090.16$ 2,132,319.05$ 2,518,526.42$ 1,526,243.84$ 1,299,490.34$ 1,330,956.78$ 1,363,367.20$ 1,396,749.94$ 1,226,252.17$ 1,255,521.46$ 1,503,028.14$ 1,540,079.92$ 1,579,300.45$ 1,619,161.19$ 1,415,577.93$ 1,450,526.99$ 1,746,062.91$ 1,790,926.53$ 1,837,136.05$ 1,877,701.25$ 1,391,033.60$ 1,432,764.60$ 1,475,747.54$ 1,520,019.97$ 1,565,620.57$ 44,597,541.34$ -$ -$ 0.00$ 0.00$ (2,856,566.72)$ (491,693.36)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ (7,030.60)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ (3,355,290.62)$ 530,051.78$ 564,974.41$ 104,787.13$ 934,086.69$ 182,035.00$ 187,496.05$ 193,120.93$ 198,914.56$ 104,233.46$ 2,999,700.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 170,829.90$ 128,726.99$ 83,470.19$ 67,588.26$ 50,795.16$ 33,046.16$ 137,368.83$ 117,884.67$ 97,172.52$ 75,169.78$ 5,762,052.44$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 127,420.37$ 217,850.65$ 204,182.00$ 189,038.00$ 2,733,040.95$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,527,090.15$ 2,132,319.04$ 3,013,204.57$ 1,683,586.68$ 1,299,490.34$ 1,330,956.77$ 1,363,367.20$ 1,396,749.94$ 1,226,252.17$ 1,255,521.45$ 1,503,028.14$ 1,540,079.92$ 1,579,300.44$ 1,619,161.19$ 1,487,328.11$ 1,546,821.24$ 1,746,062.91$ 1,790,926.52$ 1,837,136.05$ 1,884,731.85$ 1,881,944.55$ 1,957,222.33$ 2,035,511.22$ 2,116,931.67$ 2,201,608.94$ 48,232,669.81$ -$ 0.00$ 0.00$ 0.00$ (2,361,888.57)$ (334,350.52)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 71,750.19$ 96,294.25$ 0.00$ 0.00$ 0.00$ 0.00$ 490,910.96$ 524,457.73$ 559,763.69$ 596,911.71$ 635,988.38$ 279,837.86$ 408,506.89$ 442,325.37$ 1,283,067.75$ 182,035.00$ 187,496.00$ 161,166.67$ 158,483.39$ 149,940.84$ 26,678.10$ 2,999,700.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 4,800,000.00$ 104,657.18$ 450,000.00$ 450,000.00$ 429,635.26$ 450,000.00$ 49,858.58$ 10,055.95$ 119,721.91$ 143,810.14$ 140,606.17$ 130,405.93$ 126,799.83$ 123,085.55$ 119,259.84$ 2,847,896.32$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,527,090.15$ 2,132,319.04$ 3,435,751.53$ 1,806,176.91$ 1,299,490.34$ 1,330,956.77$ 1,363,367.20$ 1,396,749.94$ 1,275,414.55$ 1,313,676.98$ 1,503,028.13$ 1,540,079.92$ 1,579,300.44$ 1,619,161.19$ 1,522,911.67$ 1,568,599.02$ 1,746,062.91$ 1,790,926.52$ 1,837,136.04$ 1,884,731.85$ 1,818,436.18$ 1,872,989.26$ 1,929,178.94$ 1,987,054.31$ 2,046,665.94$ 48,403,592.15$ 0.00$ 0.00$ 0.00$ 0.00$ (1,939,341.61)$ (211,760.29)$ 0.00$ 0.00$ 0.00$ 0.00$ 49,162.38$ 58,155.53$ 0.00$ 0.00$ 0.00$ 0.00$ 107,333.74$ 118,072.03$ 0.00$ 0.00$ 0.00$ 0.00$ 427,402.58$ 440,224.66$ 453,431.40$ 467,034.34$ 481,045.37$ 450,760.20$ -$ 555,511.90$ 603,375.62$ 175,772.51$ 799,239.98$ 182,035.00$ 187,496.00$ 186,966.87$ 176,878.57$ 132,423.56$ 2,999,700.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 354,000.00$ 357,023.04$ 366,980.19$ 410,451.23$ 416,832.03$ 446,101.32$ 448,058.59$ 507,300.47$ 539,283.81$ 572,226.66$ 606,157.79$ 641,106.85$ 677,104.38$ 714,181.85$ 752,371.63$ 791,707.10$ 800,000.00$ 800,000.00$ 681,650.90$ 725,923.33$ 771,523.93$ 17,179,985.06$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 113,125.85$ 223,359.31$ 230,596.50$ 237,514.39$ 259,538.39$ 267,324.54$ 275,344.28$ 283,604.61$ 3,884,957.81$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,511,766.66$ 2,116,995.55$ 2,757,973.42$ 1,526,243.84$ 1,284,166.84$ 1,315,633.28$ 1,348,043.70$ 1,381,426.44$ 1,210,928.67$ 1,240,197.96$ 1,487,704.64$ 1,524,756.42$ 1,563,976.95$ 1,603,837.69$ 1,400,254.43$ 1,435,203.49$ 1,730,739.41$ 1,775,603.03$ 1,821,812.55$ 1,869,408.35$ 1,594,096.64$ 1,594,096.64$ 1,475,747.54$ 1,520,019.97$ 1,565,620.57$ 44,932,591.02$ -$ -$ 0.00$ 0.00$ (2,601,796.22)$ (476,369.86)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ (32,222.64)$ (73,953.65)$ 0.00$ 0.00$ 0.00$ (3,184,342.31)$ 530,051.78$ 549,650.91$ 89,463.63$ 964,733.69$ 182,035.00$ 187,496.05$ 186,966.87$ 176,878.57$ 132,423.52$ 2,999,700.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 155,506.40$ 113,403.49$ 74,300.75$ 74,300.75$ 35,471.66$ 17,722.66$ 5,270,705.70$ 194,549.94$ 450,000.00$ 450,000.00$ 450,000.00$ 450,000.00$ 319,027.03$ 83,906.82$ 202,527.15$ 188,858.50$ 173,714.50$ 122,045.33$ 102,561.17$ 81,849.02$ 59,846.28$ 3,328,885.72$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,511,766.65$ 2,116,995.54$ 3,043,851.57$ 2,002,613.70$ 1,284,166.84$ 1,315,633.27$ 1,348,043.70$ 1,381,426.44$ 1,210,928.67$ 1,240,197.95$ 1,487,704.64$ 1,524,756.42$ 1,563,976.94$ 1,603,837.69$ 1,487,328.11$ 1,546,821.24$ 1,730,739.41$ 1,775,603.02$ 1,821,812.55$ 1,869,408.35$ 1,881,944.55$ 1,957,222.33$ 2,035,511.22$ 2,116,931.67$ 2,201,608.94$ 48,337,167.84$ -$ 0.00$ 0.00$ 0.00$ (2,315,918.07)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 87,073.69$ 111,617.75$ 0.00$ 0.00$ 0.00$ 0.00$ 255,625.27$ 289,172.04$ 559,763.69$ 596,911.71$ 635,988.38$ 220,234.51$ 408,506.89$ 427,001.87$ 1,298,391.25$ 216,570.08$ 182,228.45$ 145,843.17$ 143,159.89$ 134,617.34$ 43,381.07$ 2,999,700.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 800,000.00$ 4,800,000.00$ 104,657.18$ 450,000.00$ 450,000.00$ 414,311.76$ 450,000.00$ 196,436.80$ 87,695.44$ 128,486.64$ 125,282.67$ 115,082.43$ 111,476.33$ 107,762.05$ 103,936.34$ 2,845,127.61$ 330,000.00$ 330,000.00$ 1,834,321.46$ 2,442,014.94$ 2,511,766.65$ 2,116,995.54$ 3,451,075.03$ 2,002,613.70$ 1,284,166.84$ 1,315,633.27$ 1,348,043.70$ 1,381,426.44$ 1,275,414.55$ 1,313,676.98$ 1,487,704.63$ 1,524,756.42$ 1,563,976.94$ 1,603,837.69$ 1,522,911.67$ 1,568,599.02$ 1,730,739.41$ 1,775,603.02$ 1,821,812.54$ 1,869,408.35$ 1,818,436.18$ 1,872,989.26$ 1,929,178.94$ 1,987,054.31$ 2,046,665.94$ 48,400,823.44$ 0.00$ 0.00$ 0.00$ 0.00$ (1,908,694.61)$ 0.00$ 0.00$ 0.00$ 0.00$ 0.00$ 64,485.88$ 73,479.03$ 0.00$ 0.00$ 0.00$ 0.00$ 122,657.24$ 133,395.53$ 0.00$ 0.00$ 0.00$ 0.00$ 192,116.89$ 204,938.97$ 453,431.40$ 467,034.34$ 481,045.37$ 283,890.11$ 2022 96.00$ 1,152.00$ 509,771.52$ 670,003.20$ 636,503.04$ 2022 114.73$ 1,376.76$ 599,664.28$ 800,723.62$ 760,687.44$ 2023 99.84$ 1,198.08$ 504,391.68$ 661,963.16$ 661,963.16$ 2023 118.17$ 1,418.06$ 597,004.44$ 783,508.06$ 783,508.06$ 2024 103.83$ 1,246.00$ 524,567.35$ 688,441.69$ 712,115.75$ 2024 121.72$ 1,460.60$ 614,914.57$ 807,013.30$ 834,764.79$ 2025 107.99$ 1,295.84$ 545,550.04$ 715,979.36$ 777,531.91$ 2025 125.37$ 1,504.42$ 633,362.01$ 831,223.70$ 902,683.78$ 2026 112.31$ 1,347.68$ 567,372.04$ 744,618.53$ 829,117.88$ 2026 129.13$ 1,549.56$ 652,362.87$ 856,160.41$ 953,317.54$ 2027 116.80$ 1,401.58$ 590,066.92$ 774,403.27$ 883,586.68$ 2027 133.00$ 1,596.04$ 671,933.76$ 881,845.22$ 1,006,176.91$ 2028 121.47$ 1,457.65$ 613,669.60$ 805,379.40$ 946,625.45$ 2028 136.99$ 1,643.92$ 692,091.77$ 908,300.58$ 1,067,596.76$ 2029 126.33$ 1,515.95$ 638,216.39$ 837,594.58$ 1,014,733.73$ 2029 141.10$ 1,693.24$ 712,854.52$ 935,549.60$ 1,133,404.82$ 2030 131.38$ 1,576.59$ 663,745.04$ 871,098.36$ 1,086,776.08$ 2030 145.34$ 1,744.04$ 734,240.16$ 963,616.08$ 1,202,200.53$ 2031 136.64$ 1,639.66$ 690,294.84$ 905,942.30$ 1,130,247.13$ 2031 149.70$ 1,796.36$ 756,267.36$ 992,524.57$ 1,238,266.55$ 2032 142.10$ 1,705.24$ 717,906.64$ 942,179.99$ 1,175,457.01$ 2032 154.19$ 1,850.25$ 778,955.38$ 1,022,300.30$ 1,275,414.55$ 2033 147.79$ 1,773.45$ 746,622.90$ 979,867.19$ 1,222,475.29$ 2033 158.81$ 1,905.76$ 802,324.04$ 1,052,969.31$ 1,313,676.98$ 2034 153.70$ 1,844.39$ 776,487.82$ 1,019,061.87$ 1,271,374.31$ 2034 163.58$ 1,962.93$ 826,393.77$ 1,084,558.39$ 1,353,087.29$ 2035 159.85$ 1,918.16$ 807,547.33$ 1,059,824.35$ 1,322,229.28$ 2035 168.48$ 2,021.82$ 851,185.58$ 1,117,095.14$ 1,393,679.91$ 72036 166.24$ 1,994.89$ 839,849.22$ 1,102,217.32$ 1,375,118.45$ 72036 173.54$ 2,082.47$ 876,721.15$ 1,150,608.00$ 1,435,490.31$ 2037 172.89$ 2,074.69$ 873,443.19$ 1,146,306.02$ 1,430,123.19$ 2037 178.75$ 2,144.95$ 903,022.78$ 1,185,126.24$ 1,478,555.02$ 2038 179.81$ 2,157.67$ 908,380.92$ 1,192,158.26$ 1,487,328.11$ 2038 184.11$ 2,209.30$ 930,113.46$ 1,220,680.03$ 1,522,911.67$ 2039 187.00$ 2,243.98$ 944,716.16$ 1,239,844.59$ 1,546,821.24$ 2039 189.63$ 2,275.57$ 958,016.87$ 1,257,300.43$ 1,568,599.02$ 2040 194.48$ 2,333.74$ 982,504.80$ 1,289,438.37$ 1,608,694.09$ 2040 195.32$ 2,343.84$ 986,757.37$ 1,295,019.44$ 1,615,656.99$ 2041 202.26$ 2,427.09$ 1,021,805.00$ 1,341,015.91$ 1,673,041.85$ 2041 201.18$ 2,414.16$ 1,016,360.09$ 1,333,870.02$ 1,664,126.70$ 2042 210.35$ 2,524.17$ 1,062,677.20$ 1,394,656.54$ 1,739,963.53$ 2042 207.22$ 2,486.58$ 1,046,850.90$ 1,373,886.12$ 1,714,050.50$ 2043 218.76$ 2,625.14$ 1,105,184.28$ 1,450,442.80$ 1,809,562.07$ 2043 213.43$ 2,561.18$ 1,078,256.42$ 1,415,102.71$ 1,765,472.01$ 2044 227.51$ 2,730.15$ 1,149,391.65$ 1,508,460.52$ 1,881,944.55$ 2044 219.83$ 2,638.01$ 1,110,604.12$ 1,457,555.79$ 1,818,436.18$ 2045 236.61$ 2,839.35$ 1,195,367.32$ 1,568,798.94$ 1,957,222.33$ 2045 226.43$ 2,717.15$ 1,143,922.24$ 1,501,282.46$ 1,872,989.26$ 2046 246.08$ 2,952.93$ 1,243,182.01$ 1,631,550.89$ 2,035,511.22$ 2046 233.22$ 2,798.67$ 1,178,239.91$ 1,546,320.94$ 1,929,178.94$ 2047 255.92$ 3,071.04$ 1,292,909.29$ 1,696,812.93$ 2,116,931.67$ 2047 240.22$ 2,882.63$ 1,213,587.10$ 1,592,710.56$ 1,987,054.31$ 2048 266.16$ 3,193.89$ 1,344,625.67$ 1,764,685.45$ 2,201,608.94$ 2048 247.43$ 2,969.11$ 1,249,994.72$ 1,640,491.88$ 2,046,665.94$ 2022 96.00$ 1,152.00$ 509,771.52$ 670,003.20$ 636,503.04$ 2023 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 636,503.04$ 2024 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 658,391.04$ 2025 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 691,223.04$ 2026 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 708,733.44$ 2027 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 726,243.84$ 2028 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 748,131.84$ 2029 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 771,114.24$ 2030 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2031 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2032 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2033 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2034 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2035 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 72036 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2037 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2038 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2039 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2040 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2041 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2042 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2043 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2044 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2045 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2046 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2047 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 2048 96.00$ 1,152.00$ 484,992.00$ 636,503.04$ 794,096.64$ 5% delinquency rate Paying off existing debt in 2027 with reserved REET A l t R e v S o u r c e s E x p e n s e s Created and updated 06/24/2022 @ 1425hrs Assumptions 5% loan forgiveness applied to new debt O&M for 2022 is actual. Escalates 3% annually for assumed inflation CFC's adjusted to reflect new rate in 2025 CFC's used for future Capital costs ERU's R a t e s Estimated max tolerable rate Est Rev MTR Rate/ERU (no increase) Revenue (no increase) Rate/ERU REVENUE w/1% over CPI Inc O&M DEBT Service B O&M+Debt Service+Capital Exp DEBT Service A O&M+Debt Service+Capital Exp Capital expenditures ARPA Total Fund by year Deficit / Surplus REET A l t R e v S o u r c e s CFC's (Used) REET .09 Tax ARPA Total Fund by year Deficit / SurplusA l t R e v S o u r c e s CFC's (Used) REET .09 Tax ARPA Total Fund by year Deficit / Surplus A l t R e v S o u r c e s CFC's (Used) REET .09 Tax ARPA Total Fund by year Deficit / Surplus .09 Tax ARPA Total Fund by year Deficit / Surplus A l t R e v S o u r c e s CFC's (Used) REET .09 Tax ARPA Total Fund by year Deficit / Surplus 5 million dollar project with a 1.5 million dollar contribution Current Rate no annual increase PWB Funding Option B (20 years @ 0.54%) PWB Funding Option A (22 years @ 0.79%) .09 Tax CFC's (Used) Current Rate w/increase equal to 1%>CPI Max Tolerable rate A l t R e v S o u r c e s CFC's (Used) REET Belfair Debt Options Interest Rate .54%Interest Rate .79%Interest Rate .79% Term: 20 Years Term: 22 Years Term: 20 Years LTGO 2020A LTGO 2021 DOE L0400005 DOE L1200025 CURRENT DEBT TOTAL PWB 1-B New Total PWB 1-A New Total PWB 5-YR DELAY New Total 2022 430,376.46$ 347,975.00$ 20,272.76$ 9,956.62$ 778,351.46$ 68.9 778,351.46$ 68.9 778,351.46$ 68.9 778,351.46$ 68.9 2023 671,898.06$ 349,575.64$ 20,272.76$ 9,956.62$ 1,021,473.70$ 90.4 1,021,473.70$ 90.4 1,021,473.70$ 90.4 1,021,473.70$ 90.4 2024 574,996.56$ 350,878.40$ 20,272.76$ 9,956.62$ 925,874.96$ 81.9 175,426.43$ 1,101,301.39$ 97.5 164,699.98$ 1,090,574.94$ 96.5 925,874.96$ 81.9 2025 575,708.43$ 346,126.40$ 20,272.76$ 9,956.62$ 921,834.83$ 81.6 175,426.43$ 1,097,261.26$ 97.1 164,699.98$ 1,086,534.81$ 96.2 921,834.83$ 81.6 2026 576,152.74$ 350,834.58$ 20,272.76$ 9,956.62$ 926,987.32$ 82.0 175,426.43$ 1,102,413.75$ 97.6 164,699.98$ 1,091,687.30$ 96.6 926,987.32$ 82.0 2027 576,096.29$ 349,633.52$ 20,272.63$ 9,956.62$ 925,729.81$ 81.9 175,426.43$ 1,101,156.24$ 97.4 164,699.98$ 1,090,429.79$ 96.5 925,729.81$ 81.9 2028 389,415.17$ 348,083.82$ 9,956.62$ 737,498.99$ 65.3 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2029 389,412.28$ 350,755.36$ 9,956.62$ 740,167.64$ 65.5 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 485000 2030 245,037.35$ 347,444.54$ 9,956.62$ 592,481.89$ 52.4 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2031 242,722.00$ -$ 9,956.62$ 242,722.00$ 21.5 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 DOE L0400005 121,636.43$ 2032 116,776.61$ -$ 9,956.62$ 116,776.61$ 10.3 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 363,363.57$ 2033 -$ -$ 9,956.45$ -$ 0.0 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2034 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 DOE L1200025 119,479.27$ 2035 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 243,884.30$ 2036 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2037 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2038 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 LTGO 2020A 2022 pymt 674,260.76$ 2039 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 430,376.46$ 2040 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2041 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2042 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2043 175,426.43$ 175,426.43$ 15.5 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2044 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2045 164,699.98$ 164,699.98$ 14.6 181,347.97$ 181,347.97$ 16.0 2046 181,347.97$ 181,347.97$ 16.0 2047 181,347.97$ 181,347.97$ 16.0 2048 2049 3,405,228.54$ 2,095,023.54$ 121,636.43$ 119,479.27$ 5,500,252.08$ 701.8 3,508,528.60$ 9,008,780.68$ 797.2 3,623,399.56$ 9,123,651.64$ 807.4 3,626,959.40$ 9,127,211.48$ 807.7 Notes:95.5 105.6 106.0 PWB Loan - for the figures shown above are based on a $5 million dollar loan. PBW Loan - includes a 5% loan forgiveness Spreadsheet does not reflect the possible need for an interfund or interim line of credit from CE to provide for cash flow between expenditures and reimbursement. Interest rates are low and could mirror state rate with board approval. Expense would be minor. 5M 3.5M Current CFC $11,300 $11,300 Future $13,780 $13,036 ($14,618.87)($13,725.00)($15,112.33) ($175,426.43)($164,699.98)($181,347.97) 2480.15873 5000000 4,750,000.00$ 1736.111111 4750000 3,250,000.00$ 2024 3,275,675.00$ 2025 3,301,552.83$ 2026 3,327,635.10$ 2027 3,353,923.42$ 2028 3500000 5000000 1750 2500 Apply to 2022 (LTGO 2020A) PYMNT New 2022 payment