Project Feasibility
Debt Issuance Policy targets debt service coverage for a bond financed project of 1.0x but allows for exceptions for strategic projects Projected to generate a positive net present value and net revenues will be sufficient to cover debt service by year 11 of operations Year 1 Year 2 Year 3 Year 4 Year 5 Year 10 Year 20 Year 30 FY2020 FY2021 FY2022 FY2023 FY2024 FY2029 FY2039 FY2049 Revenues Housing Revenues $2,308,000 $2,401,000 $2,498,000 $2,597,000 $2,701,000 $3,286,100 $4,864,230 $7,200,249 Dining Revenues 2,014,955 2,095,554 2,179,376 2,266,551 2,357,213 2,867,910 4,245,207 6,283,943 Total Revenues $4,322,955 $4,496,554 $4,677,376 $4,863,551 $5,058,213 $6,154,009 $9,109,437 $13,484,193
Expenses Housing Expenses Dining Expenses Total Expenses
($1,279,000) ($1,317,000) ($1,357,000) ($1,398,000) ($1,439,000) ($1,668,796) ($2,242,722) ($3,014,031) (1,208,973) (1,257,332) (1,307,625) (1,359,930) (1,414,328) (1,720,746) (2,547,124) (3,770,366) ($2,487,973) ($2,574,332) ($2,664,625) ($2,757,930) ($2,853,328) ($3,389,542) ($4,789,846) ($6,784,397)
Net Operating Income
$1,834,982 $1,922,221 $2,012,750 $2,105,620 $2,204,885 $2,764,468 $4,319,591 $6,699,796
Debt Service Payments ($2,098,750) ($2,773,750) ($2,770,000) ($2,774,750) ($2,772,500) ($2,771,750) ($2,771,000) ($2,772,000)
Net Revenues after DS
($263,768) ($851,529) ($757,250) ($669,130) ($567,615)
($7,282) $1,548,591 $3,927,796
Net Present Value
$10,375,295
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