HomeMy WebLinkAboutExhibit5i
SCHEDULE I
Ecoacrnie Incentive Payments
See Attached.
1WtM4RV0111S2t0420.41661CQ.410100
5-77-04 Midtown Miami lnterlocal Aft red line 1.doc
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Ecanamic tnaentiye Payments (E.I.P.)
Development Components By Phases
'phew 1 Components mud to imesed a Coddled* of
Ikwpncy nro sr dun December 33 200$
Rnsod
Wooded Podug 8
84d0sws Plaza (Pubic)
Carlo Twr e t w Real -Oar (374,50044 fi.)
90% CO tower
6. t. P, per E.1.10.
0.ap. 0aap. Unit Par C.D.
S9J1.1Units Unit Phase C.O. Devp,Conprmra Debt Untie*
600,000 00 600 00
2.91400 25856
374,50000 37450
1,233 06
1,t09 76
Phase It Condoned* mud be ieaaed a Cedlitzds of
Occursnry no ler then December 31, 2007
74693'Spe(235.000 sq 9.) 235,00000 23500
Apedm00s (292.000 Sq Ft) 292.030 00 192 00
Office 15000000 15000
Condo Iva 02 w/ Rest.-Ber (395,500 sq 8) 395,500 00 395 50
Total Phase 11 1 012 50
Cumulates Phase I1 I.305 56
90% CO Issued" 2,075 01
Rods ■ Components
Carlo Ter 43 wdtest. $r (395,500 sq. It)
Condo Twr 04 widest (395.500 sq h )
Teel Phew III
CtrrWalwc Rtae 111
Phew PtComponents
Condo Twr 05 wlReal -r (395,500 sq 8.)
Told Phase 95
Curuwve phase N
Phew V C.orodone.4s
Condo Ter e6 wrftest, 8e (395,500 sq 8 )
Condo Tort 07 wRa.t Ile (396,500 sq h)
Total Phase V
Cunu4tere Rose V
Phew VI Condoned*
Condo Ter 08 w/Red. Om (396,500 sq 6 )
Total Phase VI
Cu rul.we Ruse VI
Total Cumulative E P
Taal Currulalrve Debt Service
395,000 00
395.000 00
395.000 00
305,000 00
395,000 00
395,000OD
395 00
395 00
790 00
3,096 56
395 00
395 55
3,490 56
395 00
395 00
32.075 87
82,306.52
32,602 12
82,891 25
$1,937 53
51.71805
$2,559 680 00
32,559,68000
S2.550.650.00
35.999,360.00 $5,999,36000
35.999,360.00
95,997 76000 15 991,76000
35,996,96000 35,996.96000
79060
4,280.56 3140059 85,996,61000 35,996,61000
395 00
39550
4,675 56 81,282 49 $5 996 36000 $5 906 360 00
832.546,7 3o 00
Upon Construction
Completion of Phases
Yam Du.p. Unit E.I.P. per Total E.I.P Told Dad Service
D,op.Comp. Pa yr. Po yr.
'200 -2013 332,546,7)000 832546,73000
2014 467556 81,282 36 S5,995,86000 35,995,56000
2015 467556 3126327 35,999,70000 15,999.76000
2076 4675.56 61282 70 $6,997,36000 $5,90336000
2017 467556 81,282.98 85,998,66000 85,996.66000
2018 4675.56 81,28283 35,997,96000 55997,96000
2019 4675 56 31282 18 $5,994,910 00 85,994,91000
2020 467556 31,203.09 85,999.16000 55.999,16000
2021 4675 56 31,283 20 35,999 660 00 55,999.66000
2022 467556 51.25243 35,996,06000 85,996,06000
2023 467556 31,28254 55,998.01000 85,996,01000
2024 467556 31,26315 35999,46000 55.999.46000
2025 467556 81,282.14 35,994,710(0 35,903 71000
2026 4675 56 83282 93 35,995,410 00 55,990.41000
2027 4675 56 31.263 09 95,999.760 00 32,999,160 00
2026 46/5.56 87,28247 35.996,2e0 de 35,896,26000
2079 467556 81,28306 95,999,01087 35,999,01000
2030 4675.56 31,782 at S5.906,01000 35,996,01000
2031 4675.56 . 51,282 53 S5.596,56000 35,996.56000
2032 4675.56 81,78204 $5,994,260 CO 35,95326000
2033 4675 56 f1282 &5 $5,996.060 00 85,996.06000
2034 467556 3128246 S5.996,210.00 85.996,21000
2035 4675 56 17,262. 77 35,997 060 00 35997,660 00
2036 4675 56 31282.34 35.995,660 00 $5,995.660 00
2037 .250 940.00 .3750 940 00
Teal Net Dee Seem $470.234 o2000 S170,234,, 20.00
'Total EP During Canal.
Assumptions & Sources:
1 Source be Development Components, Size srd Value woe obtained from Moody 24, 2004 Development Components. Schelde and Values.
(9ngps & ceded). ERth have been tenanted Development Urals, IOW Just Value hn hem teemed Improvements
2 O6icMbl6 Sps land vale was split 50150 and nmtpnYat to the 8 amount el arpnwemetts lot the Olbw and Wee
3 Debi Service has teen updated lo WOO Aid 22, 2004 ormicns by BOA.
4 Payment Id Phase 8 will revs! to Plum payment arrounl if less Man 90% of the phase is not issued a CadihWe d Occupancy in wronen.e to
Scbe ule Phases 1811 Je eett 90% d 8re devahp en1 ants ID have received Ceddoles d Oeapncy, dlsewtse only Phase 1 p/teet sewn we made
throughout the nottsy Ode aced.
S. MMtnod5cgy for ERU devebpe0 by D. f nlrlyd WI not include ERU* le the parlu9 wove and pals We estimated re Drop. (EAU) cis to Mat
mnpon0a useg the laeowvcg analysis. Total cost d development let ROW, *recto Tens 4 Reutiers FFME 7 by Sq f1. d R.u410 anus al cost pe.
.q n twitched by 0 d sq n in ERU (1000) Total cast d Padua Plaza t ranee d petting spews to arrive al a cost pet pelting tail
Cowen Goy Nalrl ERU by we d pelting unit, cawing the rerssag 11 2lpereng units to 1 Rood tea
6 9ype d Development tints my b: sutnsulad as deleted in the Schedule as lent es the Cem leave Phase Totals re equal b a pester then the
anouela *town on en sclnedttc lot each pew. The 'Nohow does not apply to Ra.1 Dwel pntcn unto
7. Office, es deeoibed stows, mull be massed a Ceded* et Occupancy nro Nee than Decanter 31, 7007 , artless Wee Suture sod or vermin need anemone
pavane daetper pant aogterap Catl.cate d Occupancy by the .lo+anenaoned dole.
6 Prnepal Mrpnt d Bond 376.705,000 Net Dee Serowe on am Bolds most be egw4 to or less than the ye.dy $mounds 'town on Ohs Seaside
9 E.I.P Perrone for Mons Dote Chatty ere 409%d Told E.I.P. and lot de Gay 591%d Teel IP.
Note.:
' Total EP Payment d $2.559.680 00 l r Phew 1 Competes wr be node sal least 90% d the Teal Rase Development Urns re rowel
a utuhuled °mummy,
Told EP Payment of 55,999,380 to Phase N Conp:netts etc be rude 4 at least 90% d the Total Phase 0evelupmas kinds re meld
• orldruta d Occiguricr.
332,546,130.00
a) Economic Ineenl*e Paymer4 Pre Ardopmat un4 will be divatal araemeraa8y a esv.. br deanery el .n44 bowet:n 01 and 99%fe Phase I end Mese II