Atlanta BeltLine FY16 Amended Budget€¦ · Account Description FY16 Budget 5/13/2015 Diff vs 5/13/15 Notes PROJECTED REVENUES 1 TAD Increment Available for Redevelopment $ 16,564,363

3/8/2016 Atlanta BeltLine // © 2012 Page 1

// Atlanta BeltLine FY16 Amended Budget

Fiscal Year 2016 // March, 2016


• Budget Overview Amended TAD Forecast / Cash Projection FY16 Amended Budget: Revenue / Expense - Summary

• Project Summary Parks & Trails: Planning, Design & Construction Transit & Transportation: Planning, Design & Construction

• Q & A

// Agenda


// ABI Budget Overview

Amended Fiscal Year 2016 // March, 2016


// Atlanta BeltLine TAD Trend


// ABI / TAD Budget: FY16 Amended Cash Projection

Atlanta BeltLine, IncFY16 BUDGET (Amended 3/9/16)Atlanta BeltLine TAD Forecast

FY 16 Budget DifferenceAtlanta BeltLine TAD Amended FY 16 Budget vs 5/13/15 BudgetFY16 Increment Available for Redevelopment (Amended)

Cash Available at 6/30/15 2,000,000$ 2,000,000$ -$ Budgeted funds for Transit Environmental work: Atl BL EAST Budgeted funds for Transit Environmental work: Atl BL WEST Budgeted funds remaining for Construction from FY15: Various Excess FY 15 TAD Increment 300,000 300,000 -$ Other Adjustments - - - Tax Appeal Refunds Differential for FY 14, FY 15 - - - Projected COO Contingency not used: FY 15 - - - Chester Funds - - - Proceeds from Real Estate Transactions 1,539,846 1,539,846 -$

Beginning Cash Available at 6/30/15 3,839,846$ 3,839,846$ -$

Sources Tax Increment Forecast 28,305,641$ 21,654,149$ 6,651,492$

Total Cash Available for FY16 (Amended) 32,145,487$ 25,493,995$ 6,651,492$


// ABI / TAD Budget: FY16 Amended Cash Projection

Uses Tax appeals refunds due for TY14/15 -$ -$ -$ Debt Service on Atlanta BeltLine TAD Bonds (7,495,881) (7,495,881) - Debt Service on Bank Loan (2,151,479) (2,151,479) - APS PILOT Payment (projected) (0) (0) - APS Legal Fees (projected) (600,000) (600,000) - Fulton County PILOT Payment (1,350,000) (1,350,000) - City of Atlanta: Third Amendment Reimbursement (1,000,000) - (1,000,000) IA PCR Direct/Indirect TAD Group (incl URFA) (486,264) (486,264) - EPA Revolving Loan Fund (25,500) (25,500) - Atlanta BeltLine TAD Other (50,000) (50,000) - Interest Payment on Consortium Loan (222,000) (222,000) -

Total Uses for FY16 (13,381,124) (12,381,124) (1,000,000)

Net Available for FY16 Redevelopment 18,764,363$ 13,112,871$ 5,651,492$

Less: Year-End Cash Balance Forward Amount (2,200,000)$ (2,000,000)$ (200,000)$

Net Available for FY16 Redevelopment (Amended) 16,564,363$ 11,112,871$ 5,451,492$

NOTE: The $0 reflected in the amended budget above for the APS PILOT payment reflects the final resolution to negotiations regarding the Intergovernmental Agreement (IGA) among the City of Atlanta, Invest Atlanta and the Atlanta Public Schools (APS), with $0 to be paid in FY16.


// ABI Revenue: FY 16 Amended

FY 16 BudgetAmended as of Diff

Account Description FY16 Budget 5/13/2015 Diff vs 5/13/15 Notes

PROJECTED REVENUES

1 TAD Increment Available for Redevelopment 16,564,363$ 11,112,871$ 5,451,492$ Unanticipated FY16 Tax Increment2 Atlanta BeltLine Partnership (ABLP) 5,487,368$ 5,487,368$ -$ 3 Georgia Dept of Transportation (GDOT) 2,029,746$ 2,029,746$ -$ 4 City of Atlanta (COA) 7,185,680$ 7,185,680$ -$ 5 Invest Atlanta - Eastside TAD Grant 188,270$ 188,270$ -$ 6 Invest Atlanta - Westside TAD Grant 366,720$ 366,720$ -$ 7 Invest Atlanta - REBA Grant 358,718$ 358,718$ -$ 8 Federal Transit Adminstration (FTA) 900,500$ 900,500$ -$ 9 Federal Highway Administration (FHWA) 700,320$ 700,320$ -$

10 TIGER V 12,664,346$ 12,664,346$ -$ 11 Environmental Protection Agency (EPA) 160,000$ 160,000$ -$ 12 Strategic Land Acquisition Fund Partners (SLAF) 19,671,200$ 19,671,200$ -$ 13 Ponce City Market (Jamestown Development) 175,080$ 175,080$ -$ 14 National Endowment for the Arts (NEA) 175,000$ 175,000$ -$ 15 Enterprise Community Partners 24,750$ 24,750$ -$ 16 Developer Contribution 580,000$ 580,000$ -$ 17 Lease Income 301,900$ 301,900$ -$ 18 Other -$ -$ -$ 19 Non-Cash Revenue: Cap Int, Amort, Depreciation 210,000$ 210,000$ -$ 20 Other/Grant/Sponsorships 10,000$ 10,000$ -$

TOTAL PROJECTED REVENUES (Amended) 67,753,961$ 62,302,469$ 5,451,492$


• FY16 Unanticipated Tax Increment

• Targeted Strategic & Tactical Expenditures: Real Estate Housing Economic Development Project Development

// FY16 Amended Budget


// ABI Expense - Summary

PROJECTED EXPENSES Amended Budget as of Diff

Administrative and Operating Expenses: FY16 Budget 5/13/2015 Diff vs 5/13/151 Salaries & Benefits (39 => 40 FT) 5,348,922$ 5,348,922$ -$ 2 Lease -$ -$ -$

3 Interest Expense 72,000$ 72,000$ -$ 4 Other Operating Expenses 843,496$ 843,496$ -$

TOTAL PROJECTED ADMIN & OPERATING EXP 6,264,418$ 6,264,418$ -$

Program Expenses:5 Parks & Trails (Planning, Design & Construction) 26,213,670$ 23,952,248$ 2,261,422$ 6 Transit & Transportation (P, D and C) 9,149,583$ 8,779,583$ 370,000$ 7 Real Estate Asset Management 22,814,770$ 20,757,200$ 2,057,570$ 8 Community Planning & Engagement 136,000$ 86,000$ 50,000$ 9 Government Affairs 141,600$ 141,600$ -$

10 Economic Development 412,000$ 387,000$ 25,000$ 11 Affordable Housing Development 926,500$ 526,500$ 400,000$ 12 Communications & Media Relations 188,320$ 173,320$ 15,000$ 13 Legal 733,600$ 583,600$ 150,000$ 14 Finance 383,500$ 261,000$ 122,500$ 15 Operations 150,000$ 150,000$ -$ 16 Corporate Development 30,000$ 30,000$ -$

TOTAL PROJECTED PROGRAM EXPENSES 61,279,543$ 55,828,051$ 5,451,492$

FY16 ABI PROJECTED BUDGET (Amended) 67,543,961$ 62,092,469$ 5,451,492$


// ABI Project Budgets Parks & Trails

(Planning, Design & Construction)



// ABI Budget – Parks & Trails Planning, Design & Construction

PROJECT NON-TAD NET TADEXPENSES REVENUES BUDGET

Enota Park (Design) 383,332$ -$ 383,332$ NE Trail (Design) 1,935,000$ (1,645,000)$ 290,000$ Allene Urban Farm Shed, Security 393,000$ -$ 393,000$ Eastside Trail Extension (Construction) 300,000$ -$ 300,000$ Bill Kennedy Way (Updated Design) 150,000$ -$ 150,000$ Southside Trail (Design) 965,000$ (820,332)$ 144,668$ Soft Shoulder Program 180,000$ -$ 180,000$ Murphy Crossing (Design, Survey, Schematic, etc.) 100,000$ -$ 100,000$ Smaller Projects (AoB, Architectural Support, etc.) 170,422$ -$ 170,422$ Westside Park (Planning) 150,000$ -$ 150,000$

Total 4,726,754$ (2,465,332)$ 2,261,422$


// ABI Budget Transit &

Transportation Amended Fiscal Year 2016 // March, 2016


// ABI Budget – Transit and Transportation

PROJECT NON-TAD NET TADEXPENSES REVENUES BUDGET

Environmental Assessments: P'tree/Lee Ext 2,330,000$ (1,980,000)$ 350,000$ Environmental Assessments: Cross-town 1,000,000$ (1,000,000)$ -$ Transportation Policy Advisory Services 20,000$ -$ 20,000$

Total 3,350,000$ (2,980,000)$ 370,000$


// ABI Budget – Transit and Transportation


// Question / Answer FY16 Amended Budget Briefing


Atlanta BeltLine FY16 Amended Budget€¦ · Account Description FY16 Budget 5/13/2015 Diff vs 5/13/15 Notes PROJECTED REVENUES 1 TAD Increment Available for Redevelopment $ 16,564,363

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