Page 7 from package submitted to Council in 2018
Okay maybe our numbers are extreme showing a $2,770,585.50 loss., but is much more realistic then a $741,442 profit with a $141,496 contingency payment.
Bottom line is we have a problem here....
- Our expenses have increased with the first $30,000,000 overrun and they will go up even more when the next overrun is announced--at least $15,000,000.
- At the same time our revenue projections have fallen off a cliff.
Think about parking revenues??
Are we even building the parking garage??
|
City |
|
Our |
|
Council 2018 |
|
Projections |
Sources |
|
|
|
Ballpark Taxes |
147,167.00 |
50% reduction |
73,583.50 |
Parking
Revenue |
845,650.00 |
50% reduction |
422,825.00 |
Left Field Building |
313,060.00 |
|
0.00 |
WG South Hotel/Apartments |
1,628,067.00 |
|
0.00 |
Personal Property Tax |
11,526.00 |
keep the same |
11,526.00 |
Use & Occupancy |
571,388.00 |
|
0.00 |
Advertsiing |
156,000.00 |
50% reduction |
78,000.00 |
8 City Revenue Events |
40,000.00 |
50% reduction |
20,000.00 |
|
3,712,858.00 |
|
605,934.50 |
Uses |
|
|
|
Debt Service |
2,733,000.00 |
increase 20 Million debt |
3,279,600.00 |
Operating Costs |
96,920.00 |
keep the same |
96,920.00 |
5% contingency |
141,496.00 |
no contingency |
0.00 |
|
2,971,416.00 |
|
3,376,520.00 |
|
|
|
|
Profit/loss |
741,442.00 |
|
-2,770,585.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comments