1
2009 Seaport & Real Estate Plan of Finance Scenario
Comparison
1/2 Cent Reduction
(First Reading)
3.5% Levy
Increase in 2009
Flat Amount in
2009
2009 Levy Amount
84.01
78.56
75.90
2009 Levy Rate (cents)
21.9
20.4
19.7
% increase over 2008
10.7%
3.5%
0%
Post 2009 Levy Assumption
rate held flat
3% dollar
increase per year
3% dollar increase
per year
5- year CIP Spending Deferral
163
185
195
2015 Levy
75.2
80.5
81.9
2015 Maximum Levy
101
101
101
Additional Funding Capacity (2014-2018)
69
80
69
2
5-Year Seaport & Real Estate Capital Plan, 2009 Plan of
Finance
• Seaport Committed projects $161.3
• Real Estate Committed projects $137.0
Total Committed $298.3
• Seaport Business Plan Prospective $310.9
• Real Estate Business Plan Prospective $ 47.8
Total BP Prospective $358.7
• Less: Deferral ($195)
Net BP Prospective $163.7
3
Seaport and Real Estate Funding Sources 2009-2013,
2009 Plan of Finance
$ Millions
Net Income
115
Existing Revenue Bonds
58
Tax Levy
101
Future G.O. Bonds
226
Grants
2
Total
502
Note: Assumes $195 million CIP deferral and includes $18 million of funding for
Seaport/RE share of Corporate CIP and $22 million for Regional Transportation
projects
Projected Tax Levy & G.O. Debt Service, 2009 Plan of
Finance ($Millions)
4
2009
2010
2011
2012
2013
2014
2015
2016
Tax Levy
75,899
78,176
80,521
82,937
85,425
87,988
81,888
81,877
Existing G.O. Debt
Service
42,544
42,549
42,560
42,564
42,566
42,564
32,868
32,864
New G.O. Debt
Service: Rail Corridor
10,171
10,171
10,171
10,171
10,171
10,171
10,171
10,171
New G.O. Debt
Service: Other CIP
4,212
5,914
7,659
9,466
11,329
13,259
18,375
18,375
Total
56,927
58,634
60,390
62,201
64,066
65,994
61,414
61,410
