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FY 10-11 MDD Adopted BudgetBAYTOWN MUNICIPAL DEVELOPMENT DISTRICT (MDD) 2010 -11 ADOPTED PROJECTS BUDGET FISCAL YEAR ENDING SEPTEMBER 30, 2011 BAYTOWN S Garry Brumback Ignacio Ramirez Cynthia Pearson Leticia Garza General Manager General Counsel Finance Officer Assistant Secretary BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DIRECTORS STEPHEN H. DONCARLOS, President RUBEN LINARES, Vice President VACANT, Secretary f=33_L lZiL[oL1QarIww REGGIE BREWER MARY HERNANDEZ TERRY SAIN SCOTT SHELEY LYNN A. CASKEY II DAVID MCCARTNEY MERCEDES RENTERIA III BAYTOWN S - MUNICIPAL DEVELOPMENT DISTRICT August 5, 2010 President and Directors of the Municipal Development District Board Enclosed you will find the 2010 -2011 budget for the Baytown Municipal Development District (MDD). Listed below are the highlights of revenues and expenditures. Revenues — Although there has been a declining trend in sales tax collections over the past year, recent months have reflected a slowing of that downward trend and we anticipate revenues to remain flat for the ensuing year. Sales tax revenue for 2010 -11 is projected at $4,240,000 which is approximately the same as current year estimated collections. Along with interest income, total revenues for 2010 -2011 are projected at $4,309,000. Expenditures - The MDD has several projects funded that will play a significant role in the economic development and quality of life in the City. The new allocations for projects in 2010 -2011 are classified in one of the following three (3) priorities: o Priority: Projects or expenditures designed to promote new or expanded business activity that create or retain primary jobs: • Development of New and Expansion of Existing Businesses and Industry • Economic Development Foundation — Basic Service • Economic Development Foundation — Special Projects • Property Acquisition for Economic Development Priority., Projects which provide Infrastructure for economic development: Land Acquisition for New Thoroughfares D State Infrastructure Bank Loan Repayment — Decker Dr to SH 146 S Flyover ➢ Texas Avenue Streetscape Project ➢ Cost Share with Developers for Upsizing Utilities ➢ Northeast Wastewater Treatment Plant — Debt Service to fund 60% of design and construction ➢ North Main /1 -10 Utility — Debt Service to fund extension of utilities ➢ West District Plant Expansion — Debt Service to fund 60% of design; 50% of construction Priority: Projects that improve a community's quality of life, including parks, athletic facilities, etc: • Aquatic Facility — Debt Service on partial construction • Baytown Sports League Improvements • Baytown Nature Center Entryway and Miscellaneous Improvements • Land Acquisition — Future Parks • Sports Complex Improvements — Parking, Fields and Lighting • Spraygrounds (not specific) Additional narrative on each of the foregoing projects is included in the "Major Budget Issues" section of the budget packet. Project administration costs of $250,000 are included for administrative support of the MDD. There is not an allocation to unforeseen /new initiatives this year. However, there are previously allocated funds to this account that are still available. These funds provide flexibility to allow the Board to utilize MDD funds to secure federal, state and local grant funds when available and to enhance and expand the impact that the MDD has on the economic development of the community as opportunities arise. It will also allow funding for inflationary increases on project cost estimates if needed. Since , Garry Br ral Manager MUNICIPAL DEVELOPMENT DISTRICT MAJOR BUDGET ISSUES Fiscal Year 2010 -11 On May 5, 2001, in the general election, the citizens of the City of Baytown voted to authorize the creation of the Baytown Municipal Development District (MDD) and the imposition of a sales and use tax at the rate of one -half of one percent for the purpose of financing economic development projects that provide economic benefit and diversify the economic base of the community. The board is composed of the Mayor, six council members and four at -large resident members. REVENUES - Although there has been a declining trend in sales tax collections over the past year, recent months have reflected a slowing of that downward trend and we anticipate revenues to remain flat for the ensuing year. Sales tax revenue for 2010 -11 is projected at $4,240,000 which is approximately the same as current year estimated collections. Along with interest income, total revenues for 2010 -2011 are projected at $4,309,000. EXPENDITURES — The projects included in this year's program are economic development improvements in the areas of streets, drainage, sidewalks & signalization; utilities; and parks. Generally, project costs may include functions such as services, construction or debt service on long -term construction projects. Project administration costs of $250,000 are included for administrative support of the MDD. PROJECTS Development of New and Expansion of Existing Businesses and Industry A significant function of this budget allocation is the development of new and expansion of existing businesses. These projects are critically important in light of the State Implementation Plan's potential impact on the petro - chemical industry and underscore our need to diversify our economic foundation. $100,000 Economic Development Foundation — Basic Service This provides continued funding for the basic economic development services contract with the Baytown Area/West Chambers County Economic Development Foundation (EDF). $200,000 Economic Development Foundation — Special Projects The current MDD budget includes continued funding for a special projects contract with the EDF. The provisions of this contract are requested and approved on an annual basis. $100,000 Property Acquisition for Economic Development This allocation provides funding to purchase property that may become available to be used for future economic development purposes. $100,000 Land Acquisition for new Thoroughfares Funds to purchase rights -of -way for roadway development or expansion. $100,000 State Infrastructure Bank Loan Repayment — Decker Drive to Highway 146 S. Flyover The MDD financed a $1,000,000 loan from the Texas State Infrastructure Bank (SIB) for a Decker Drive to Highway 146 South flyover project. This funding, combined with matching funds from the November 2007 bond election, allowed for completion of the Decker Drive to Highway 146 South flyover. The current project funding eliminates the "braided" on and off ramps. The postponement of the construction of these ramps would have impaired mobility in the area. The State matched our $2 million contribution to provide the $4 million necessary to complete all elements of this flyover. Eligible projects must be on the state highway system and be included in the Statewide Transportation Improvement Plan. This allocation was over funded in the prior year and reflects an adjustment to provide for current year funding needs. ($2,086) Texas Avenue Streetscape Project The budget includes continued funding for either direct expenditures or match for grants in subsequent years to enhance streets and sidewalks for economic redevelopment, community identity and beautification in the public rights -of -way of Texas Avenue. The expenditures may include roadway improvements, utilities, streetlights, trees, crosswalks, street furniture, landscape plantings, etc. $150,000 Economic Development Cost Share with Developers This funding allows the City to have the ability to upsize utility lines installed by developers to meet future water and sewer needs for undeveloped areas serviced by the same lines. $50,000 Northeast Wastewater Treatment Plant — Debt Service The confirmed growth and development within the City necessitated the design and construction of the Northeast Wastewater Treatment facility. The project is estimated at $28,500,000 with 60% ($17,100,000) of the funding from the MDD. The remaining 40% ($11,400,000) is funded from the Water and Sewer Fund. This allocation includes the current year principal and interest payment on multiple debt issuances by the Texas Water Development Board (TWDB) loan and Certificates of Obligation. The plant was completed in early 2009. $1,192,128 North Main /1 -10 Utility — Debt Service This economic development project extends water and wastewater service along North Main Street from just north of Cedar Bayou Lynchburg Road to Wallisville Road, effectively opening up this area for future development. As property owners connect to this line, they would be required to request voluntary annexation as a condition for tying on to this service. The initial user of this new service, and an impetus for additional development in this area, is the new GCCISD Memorial High School at Wallisville and N. Main that opened in August 2008. This project is under design and the final design of the northern section is dependent on the coordination with Harris County on the North Main expansion and cooperation of the adjacent MUD. The City has issued the Series 2007 Certificates of Obligation to finance the total cost of the project which is estimated at $4,500,000. MDD will provide 100% funding for the 20 year debt service. $349,003 West District Plant Expansion — Debt Service The design to expand the facility with a new 4.0 million gallon per day (MGD) treatment facility is underway. This expansion will increase the facility to 8 MGD. MDD has reimbursed the City for 60 %, or $1.2 million, of the design costs of approximately $2,000,000, which was authorized in the 2005 -06 and 2006 -07 budgets. The City issued Series 2008 Certificates of Obligation to finance the total construction costs of the project which is estimated at $27,600,000. MDD will provide 50% funding for the 20 year debt service. This allocation funds the current year debt service requirement. $985,752 Aquatic Facility — Debt Service The Aquatic Needs Analysis has been completed and a Master Plan has been produced to further define the development in this recreational area. The final report provided information on utilization, feasibility of construction, and project cost estimates for aquatic facilities. The 2007 -08 budget funded the Engineering and Design. Construction began in early 2009 on the multi - million dollar aquatics facility, Pirate's Bay Waterpark, funded with $4 million authorized in the November 2007 bond election and the issuance of $6 million in Certificates of Obligation in early 2010. MDD will fund the debt service on the $6 million in CO's. $63,348 Baytown Sports League Improvements The budget provides continued funding for various improvements at little league, pony league and soccer facilities including bleacher covers, backstops, paving, trails, lighting and fencing repairs as needed. $25,000 Baytown Nature Center Entryway and Miscellaneous Improvements The budget includes matching funds for possible future grants to construct additional wetlands, breakwater, and fishing piers. $110,000 Land Acquisition — Future Parks The project provides funding to acquire future parkland. This is a continued set -aside of funds to provide an allocation that would be used as land becomes available. $50,000 Sports Complex (Parking, Fields and Lighting) The project provides for continued funding to be used as needed for park lighting, trails, parking and field improvements at the Sports Complex. $125,000 SSpraygrounds (not specific) The funding will allow the Parks and Recreation Department to bring forward potential projects that will enhance or expand spraygrounds around the City. $125,000 Project Administration & Overhead Total MDD 2010 -11 Budget $250,000 00 MUNICIPAL DEVELOPMENT DISTRICT (MDD) PROGRAM FUND BUDGET SUMMARY for Fiscal Year 2010 -11 Actual Carty- forward Adopted Adjustments Total Allocation Estimated Actual Carry-forward New Allocation Total Allocation 2008-09 2008-09 2009 -10 2009 -10 2009 -10 2009 -10 2009.10 1 2010.11 20W11 B?IrmInq working capital $ 8,279,928 $ 7,691,880 $ 1,164.473 $ 7,691.880 $ 7.691,880 $ 5,946,876 $ 292.107 $ 5,946.876 Revenues Sales Taxes 4,499,459 - 4,300.000 - 4,300.000 4,240.340 4,240,000 4,240.000 Interest on Investments 73.393 75.000 75.000 10,000 10,000 10,000 Intergovernmental - CMAQ grant for Goose Creek project 16,978 - - Transfer from General Fund for Master Plan 75,000 - 75.000 Contribution -Signal- Garth/lnde end Kohl's - - - - 96,802 Contribution- Upsize Sewer Line- Cheddars 50,000 Loan Repayments 9.376 - - - - 38,696 51,019 51.019 Interest on Loans 2,024 - 6.902 8.383 8.383 Miscellaneous 48 - - Total MDD Revenues 4,642.322 4.375.000 4,375.000 4,517,740 4,309.402 4,309,402 Expenditures Economic DeWoMent Projects Development of New and Expansion of Existing Businesses and Industry 667.542 419,708 100,000 519_,70.8 200,000 443.661 76,047 100,000 176,047 Econ Development Foundation - Basic Economic Development Services 200.000 - 200,000 - 200,000 200.000 200.000 Econ Development Foundation - Special Economic Development Projects 26,590 94,081 75.0001 169,081 4,436 164.645 100,000 264.645 Econ Development Foundation - Special Economic Development Pro ects -SBRLF 110.000 - - 110,000 - 110.000 110.000 Property Acquisition for Economic Development 55.168 444.832 300.000 - 744.832 417,856 326,976 100.000 426,976 Unified Land Development Coda 15,000 15.000 15,000 15.000 Subtotal 949.300 1.068,621 690,000 1,758 .621 1.065.953 692,668 500.000 1,1 92.668 Streets, Drainage, Sidewalks 6 SI nalizattan Pro sets Baker Road Extension - Land Acquisition 53,473 5.027 - - 5,027 - 5,027 5.027 Garth Road/Independence Signal 156.338 - - - - - Land Acquisition for New Thoroughfares 588,000 100,000 - 688.000 - 688.000 100.000 788.000 North MairdAlexander Signal Synchronization 43.294 477,983 - - 477,983 361,973 116.010 116.010 Sldewalk- Raccoon Drive 28,879 - - - State Infrastructure Bank Loan Repayment Decker Drive Main Lanes 377,478 377.478 377,478 377,478 State Infrastructure Bank Loan Repayment Decker Dr to 146 South flyover $1 mm) 149,000 151,000 149,000 300,000 148,957 151.043 2,088 148,957 Texas Avenue - Streetscape Project 131,843 534,849 150.000 684.849 102,395 582,454 150.000 732,454 Land A uisition - John Martin Road Realignment - 350 350 350 Market / Wisconsin Intersection 4,719 - - - Transportation Master Plan 225,000 75.000 300.000 75,000 225.000 225,000 Subtotal 945.024 1,981.859 776,4781 75.350 2.833,687 1.066.153 1,767.534 247.914 2.015.448 Udlity Projects Baker Road/Narth Main Sanitary Sewer Study & Construction 102,121 37.587 - 37,587 37,587 Economic Dev. Cost Share with Developers to U size New Utilities 1,113,285 50,ODD 450,000 713,285 - 713.285 50,000 763,285 NE WW Treatment Plant Debt Service (60% - 2005 8 2006 TWDB & 2006 CO's 1.164.210 1.166.168 - 1,166,168 1,166.168 1,192.128 1,192.128 MUNICIPAL DEVELOPMENT DISTRICT MDD PROGRAM FUND BUDGET SUMMARY for Fiscal Year 2010 -11 Actual Carry- forward Adopted Adjustments Total Allocation Estimated Actual Carry-forward New Allocation Total Allocation 2008.09 2008419 2009-10 2009.10 2009 -10 2009 -10 2009 -10 2010.11 2010.11 N. Mairdl -10 Utility W&S Debt Service - $4.5mm - 2007 CO's 354,680 352,049 - 352,049 352,049 349,003 349.003 West District Plant Expansion Debt Service - 50% - 2008 CO's 974,788 978,968 978,968 978,968 985,752 985.752 N. Main 11-10 Utility 2ND Baptist Church 143,230 - Upsize Sewer Line - Cheddars 500,000 500,000 500,000 - - - West District Plant Expansion Design - 541,398 541,398 541.398 - 541,398 Subtotal 2,739,027 1,692,270 2,547.185 50,000 4.289.455 3,034.772 1,254,683 2,576,883 3,831,566 Parks Projects Aquatic Master Plan Implementation: Engineering, Design and Construction 14,300 34.299 - - 34,299 34,299 - Aquatics Master Plan Phase 1 & 2 Construction Debt Svc on $6mm 110,000 349,600 - 459,600 84,635 374,965 63.348 438,313 Art and Cultural Center 1,521 - - - - - - - - Baytown Sports League Improvements 40,796 145.858 25.00 - 170,858 54.612 116,246 25,000 141.246 Baytown Nature Center Entryway and Misc. Improvements 8.451 193,092 - 193,092 129,001 64,091 110,000 174,091 Goose Creek Stream, Phase IV (80% Match CMAQ = $1,089,535 ) 157,143 109,783 - 109.783 109,783 - Goose Creek Stream - Trails, Docks and Picnic Shelters 125.00 - - 125.000 - 125.000 125.000 Gray Center Renovations: Girls and Adult Softball Complex - 2,355 - 2,355 2,355 - - Jenkins Park Bridges 2 71,900 86,100 - 158.000 158,000 158,000 Jenkins Park Parking Lot 215,743 - 215,743 140,000 75,743 - 75,743 Land Acquisition - Future Parks 73,139 50,000 (100,000)_ 23,139 - 23,139 50,000 73,139 Land Acquisition - Wayne Gray Park - 100.000 100,00 100,000 - - Parks Master Plan Update 100,00 - - 10,00 36,273 63,727 63.727 Skate Park Construction - Unidad Park - 6,864 - - 6,864 6,864 - - - Sports Complex Parking, Fields and Lighting) S ra rounds not specific Unidad Park Trail 122,808 2,192 125,00 49,00 125,000 - - - - 127,192 125,00 49,000 127,192 - 20,852 - 125,00 28,148 125.00 125,000 - 125.00 250,00 28.148 Wetlands Center Improvements add AC /Heating 2,00 13,258 - - 13,258 - 13.258 - 13,258 Subtotal 347,019 1,161,740 851,443 - 2,013,183 845.866 1,167,317 498,348 1,665,665 Total MDD Projects 4.980.370 5,904,490 4.865.106 125,350 10,894,946 6.012,744 4.882,202 3,823.145 8,705.347 Other Project Administration and Overhead 250,00 250,000 - 250,000 250,00 250,00 250,00 UnforeseeNNew Initiatives 622,917 150,000 350 772,567 - 772,567 772,567 Subtotal 250,00 622.917 400,000 350 1,022,567 250,00 772,567 250.00 1.022.567 Total MDD Expenditures 5,230.370 6,527,407 5.265.106 125,00 11,917,513 6.262,744 5,654.769 4,073.145 9,727.914 Revenues over under expenses 588,048 6,527.407 890,106 125,000 7,542,513 1,745,04 5,654,769 236,257 5.418,512 Ending working capital $ 7,691,880 $ 1,164,473 $ 274,367 $ 125,000 $ 149,367 $ 5,946,876 $ 292,107 $ 528,364 $ 528,364 MUNICIPAL DEVELOPMENT DISTRICT (MDD) PROGRAM FUND BUDGET SUMMARY for Fiscal Year 2010 -11 Actual Carry- forward Adopted Adjustments Total Allocation Estimated Actual Carry-forward New Allocation Total Allocation 2008-09 2008-09 2009 -10 2009 -10 2009 -10 2009 -10 20W10 2010 -11 2010 -11 DEBT SERVICE PAYMENT RECAP Aquatics Master Plan Phase 1 & 2 Construction Debt Svc on $6mm - 110,000 349,600 - 459,600 84,635 374,965 63,348 438.313 State Infrastructure Bank Loan Repayment Decker Drive Main Lanes 377.478 - 377,478 377.478 377.478 - - - State Infrastructure Bank Loan Repayment Decker Dr to 146 South flyover $1 mm) 149,000 151,000 149,000 - 300,000 148,957 151,043 2,086 148.957 NE WW Treatment Plant Debt Service (60 %- 2005 & 2006 TWDS & 2006 CO's ) 1,164,210 - 1.166,168 1,166,168 1.166,168 1,192,128 1,192,128 N. Main/1 -10 Utility W &S Debt Service - $4.SMm- 2007 CO's 354,680 - 352.049 - 352.049 352.049 - 349,003 349,003 West District Plant Expansion Debt Service - 50% - 2008 CO's 974,786 - 978.968 - 978.968 978,968 985,752 985,752 Total Debt Service Payments $ 3,020,154 $ 261,000 $ 3,373,263 $ - $ 3,634,263 $ 3,108,255 1 $ 526,008 $ 2,588,145 $ 3,114,153 0 SUPPLEMENTAL INFORMATION INCLUDED FOR PLANNING PURPOSES MUNICIPAL DEVELOPMENT DISTRICT (MDD) PROGRAM FUND - BUDGET SUMMARY - PROJECTED WORKING CAPITAL Fiscal Year 2010 -11 Estimated revenue growth for pro ected years: 1.S% Carry- forward Adjusted Allocation Total Allocation Estimated Carry- forward New Allocation Total Allocation Projected Projected Projected Projected Projected Mh9/30109 2008 -09 2009 -10 2009 -10 20 09 -10 2009 -10 2010 -11 2010 -11 2011 -12 2012 -13 2013 -14 2014 -15 2015.16 BeI innin workin ca ital $ 7,691,880 $ 1,164,473 $ 7.691,880 $ 7,691,880 $ 5.946,876 $ 292,107 $ 5,946,876 $ 528,364 $ 271,126 $ 295,049 $ 103,512 $ 37,322 Revenues Sales Taxes 29.356,243 4,300.000 4,300,000 4,240,340 4,240.000 4,240,000 4,304,000 4,369,000 4,435,000 4,502,000 4,570,000 Interest on Investments 1,328,575 75.000 75,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Contributions & Miscellaneous 682,181 267,400 59,402 59,402 20,000 20,000 20,000 20,000 20,000 Total MDD Revenues 31,366,999 4,375,000 4,375,000 4,517,740 4,309.402 4,309,402 4,334,000 4,399,000 4,465,000 41532.000 4,600.000 Expenditures Economic Development Projects Development of New and Expansion of Existing Businesses and Industry 668,042 419,708 100,000 519,708 443,661 76,047 100,000 176,0471 100,000 100,000 100,000 100,000 100,000 Econ Development Foundation - Basic Economic Development Services 900,000 200,000 200,000 200,000 200.000 200.000 200,000 200.000 200.000 200,000 200,000 Econ Development Foundation - Special Economic Development Projects 271,618 94,081 75,0001 169,081 4,436 164,645 100,000 264,645 100.000 100,000 100,000 100,000 100,000 Econ Development Foundation - Special Economic Deve lo meat Projects -SBRLF 100,000 110,000 110,000 110,000 110,000 Property Acquisition for Economic Dovola ment 55,168 444,832 300,000 744,832 417,856 326,976 100,000 426,976 100,000 100.000 100,000 300,000 300,000 Unified Land Development Code 37,500 15,000 15,000 15,000 15,000 Subtotal 2,032.328 1.068,621 690.000 1.758,621 1,065.953 692.668 500,000 1,192,668 500,000 500,000 500,000 700.000 700,001) Streets, Drainage, Sidewalks & Si nalization Pro ects Baker Road Extension - Land Acquisition 113,792 5,027 5,027 5,027 5,027 Garth Roadlindependence Signal 193,604 - Land Acquisition for New Thoroughfares 588,000 100,000 688,000 688,000 100,000 788,000 100,000 100,000 100,000 100.000 100,000 North MaiNAlexander Signal Synchronization 403,399 477,983 477,983 361,973 116,010 116,010 Sidewalk - Raccoon Drive 137,242 - State infrastructure Bank Loan Repayment Decker Drive Main Lanes 2.642,346 377.478 377,478 377,478 - State Infrastructure Bank Loan Repayment Decker Drto 146 South fl over $1mm 149,000 151.000 149,000 300,000 148,957 151,043 2,086 148,957 149,000 149,000 149,000 149,000 149,000 Texas Avenue - Streetscape Project 205.151 534,849 150,000 684,849 102.395 582.454 150.000 732,454 150,000 150,000 150,000 150.000 150,000 Land Acquisition - John Martin Road Realignment 26,700 350 350 350 Transportation Master Plan 225,000 75,000 300,000 75 000 225.000 225.000 Subtotal 3,871,234 1,981,859 851,828 2,833,687 1,066,153 1,767,534 247,914 2,015,448 399.000 399,000 399.000 399,000 399,000 Lffility Projects Baker Road/North Main Sanitary Sewer Study & Construction 1,116,447 37,587 37,587 37.587 Economic Dev. Cost Share with Developers to U size New Utilities 1,113,285 400,000 713,285 713,285 50,000 763,285 50,000 50,000 50,000 50,000 50,000 NE WW Treatment Plan Debt Service (60% - 2005 & 2006 TWDB & 2006 CO's ) 3,709,284 1,166,168 1,166,168 1,166,168 1,192,128 1,192,128 1,195,193 1,199,080 1,201,581 1,208,315 1,214,694 N. Mairdl -10 Utility W &S Debt Service - ($4.5mm - 2007 CO's ) 710,717 352,049 352,049 352,049 349,003 349,003 345,541 341,665 340,252 338,631 340,847 West District Plant Expansion Debt SeMce - (50% - 2008 COs) 1,237,426 978,968 978,968 978,9681 985,752 985,7521 990,491 997,844 1,002,966 1,009,356 1,014,619 N. Main 11 -10 Utility 2ND Baptist Church 143,230 U size Sewer Line - Cheddars 500.000 500.000 500,000 West District Plant Expansion Design 541.398 541,398 541,398 541,398 Subtotal 6,917,104 1.692.270 2,597,185 4,289,455 3,034.772 1,254,683 2,576,883 3,831,566 2,581,225 2,588,589 2,594,799 2,606 302 2,620,160 MUNICIPAL DEVELOPMENT DISTRICT MDD PROGRAM FUND BUDGET SUMMARY - PROJECTED WORKING CAPITAL Fiscal Year 201041 Estimated revenue growth for projected years: 1.5% Actual Expenditures Carry- forward Adjusted Allocation Total Allocation Estimated Carry- forward New Allocation Total Allocation Projected Projected Projected Projected Projected through 9130109 2006 -09 2009 -10 2009.10 2009 -10 2009 -10 201041 2010 -11 2011 -12 2012 -13 2013.14 2014 -15 2015 -16 Parks PrP ects Aquatic Master Plan Implementation: Engineering, Design and Construction 515,701 34,299 34,299 34,299 Aquatics Master Plan Phase 1 & 2 Construction Debt Svc on $6mm 110,000 349,600 459,600 84,635 374,965 63,348 438,313 426,013 437,488 427,738 437,888 426,713 Arboretum Education and Park 360,000 Baytown Sports Lea ue Improvements 250,342 145,858 25,000 170,858 54,612 116,246 25,000 141,246 25,000 25,000 25,000 25,000 25,000 Baytown Nature Center Entryway and Misc. Im rovements 701,630 193,092 193,092 129,001 64,091 110,000 174,091 110,000 - Goose Creek Stream, Phase IV (80% Match CMAQ = $1,089,535 ) 487.6271 109,783 109,783 109,783 Goose Creek Stream - Trails, Docks and Picnic Shelters 125,000 125,000 125,000 125,0001 - Gray Center Renovations: Girls and Adult Softball Complex 3,299,973 2,355 2,355 2,355 - Jenkins Park Bridges 2 71,900 86,100 158,000 158,000 158,000 - - - Jenkins Park Parka Lot 215,743 215,743 140,000 75,743 75,743 Land Acquisition - Future Parks 34,942 73,139 50,DDD 23,139 23,139 50,000 73,139 50,000 50,000 50,000 50,000 __ 50,000 Land Acquisition - Gray Park 100,000 100,000 100,000 Land Acquisition - Jenkins Park Expansion 405,109 Parks Master Plan Update 100,000 100,000 36,273 63,727 63,727 Skate Park Construction - Unidad Park 180,192 6,864 6,864 6,864 Sports Complex (Parking, Fields and Li t#j 122,808 2,192 125,000 127,192 127.192 125,000 125,000 125.000 125,000 S prayg rounds not specific) 125,000 125,000 125,000 125,000 250,000 125,000 50,000 50,000 UnidadP ark Trail 49,000 49,000 20,852 28,148 28,148 Wetlands Center Improvements add AC/Heating) 13,258 13,258 13,258 13,258 Subtotal 5,998,3241 1,161,740 851,443 2,013,183 845,866 1,167,317 498,348 1,665,665 861,013 637,488 912,738 642,888 501,713 Total MOO Projects 18,818,990 5,904,490 4,990,456 10894,946 6,012,744 4,882,202 3,823,145 8,705,347 4,341,238 4,125,077 4,406,537 4,348,190 4,220,873 Other Project Administration and Overhead 1,287,500 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 Unforeseen/New Initiatives 22,704 622,917 149,650 772,567 772,567 772,567 100,000 Subtotal 1,310,204 622,917 399,650 1,022,567 250,000 772,567 250,000 1,022,567 250,000 250,000 250,000 250,000 350,000 Total MDD Expenditures 20,129,194 1 6,527,407 5,390,106 11,917,513 1 6,262,744 5,654,769 1 4,073,145 9,727 914 4,375,077 4,656,537 4,598,190 4,570,873 Revenues over under a nditures 11,237,804 6,527,407 1,015,108 7,542,513 1,745,004 5,654,769 236,257 5,418,512 L4.591,238 23,923 191,537 66,190 29,127 Ending working capital $ 11,237,804 $ 1,164,473 $ 149,367 $ 149,367 $ 5,946,876 $ 292,107 $ 528,364 $ 528,364 $ 295,049 $ 103,512 1 $ 37,322 $ 66,449 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES Certificate of Obligation - TWDB MDD portion-60%) Issue 1 of 2 $ 3,516,310 Series 2005 Date of Issue - March 1, 2005 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 2101 Interest for Fiscal Yr Principal 2006 1.35% $ 98,625 $ 99,219 $ 197,844 $ 3,417,685 2007 1.55% 105,200 97,738 202,938 3,312,485 2008 1.65% 110,460 73,009 183,469 3,202,025 2009 1.80% 117,035 71,088 188,123 3,084,990 2010 2.05% 123,610 68,927 192,537 2,961,380 2011 2.25% 130,185 88,995 219,180 2,831,195 2012 2.40% 138,075 85,873 223,948 2,693,120 2013 2.55% 145,965 82,355 228,320 2,547,155 2014 2.65% 153,855 78,456 232,311 2,393,300 2015 2.75% 163,060 74,175 237,235 2,230,240 2016 2.90% 172,265 69,435 241,700 2,057,975 2017 2.95% 181,470 64,261 245,731 1,876,505 2018 3.00% 191,990 58,656 250,646 1,684,515 2019 3.10% 202,510 52,589 255,099 1,482,005 2020 3.15% 214,345 46,075 260,420 1,267,660 2021 2.00% 226,180 39,080 265,260 1,041,480 2022 3.30% 239,330 31,512 270,842 802,150 2023 3.35% 252,480 23,334 275,814 549,670 2024 3.45% 266,945 14,500 281,445 282,725 2025 3.50% 282,725 4,948 287,673 - $ 3,516,310 $ 1,224,226 $ 4,740,536 Certificate of Obligation - (MDD portion-60%) 4.375% 139,871 $ 3,321,586 Series 2006A Date of Issue - February 9, 2006 3.875% Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 2101 Interest for Fiscal Yr Principal 2007 5.875% $ 51,603 $ 212,562 $ 264,164 $ 3,269,983 2008 5.875% 111,353 144,811 256,164 3,158,630 2009 5.875% 116,785 138,109 254,894 3,041,845 2010 5.875% 122.217 131.089 253.306 2.919.628 2013 4.375% 139,871 109,121 248,991 2,519,028 2014 3.875% 145,302 103,246 248,548 2,373,725 2015 3.875% 152,092 97,484 249,576 2,221,633 2016 4.000% 160,240 91,332 251,572 2,061,393 2017 4.000% 167,030 84,787 251,817 1,894,363 2018 4.100% 175,178 77,855 253,033 1,719,185 2019 4.125% 183,325 70,483 253,809 1,535,860 2020 4.200% 191,473 62,681 254,154 1,344,387 2021 4.250% 199,621 54,418 254,039 1,144,766 2022 4.300% 209,127 45,680 254,807 935,639 2023 4.350% 218,633 36,428 255,061 717,006 2024 4.400% 228,138 26,654 254,793 488,868 2025 4.400% 239,002 16,377 255,379 249,866 2026 4.450% 249,866 5,560 255,425 - $ 3,321,586 $ 1,748,516 $ 5,070,102 14 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES Year - Rate Due 2101 Interest for Fiscal Yr Principal 2007 5.500% $ 313,210 $ 405,618 $ 718,828 $ 10,056,923 2008 5.500% 394,802 326,865 721,667 9,662,121 2009 5.500% 405,330 315,863 721,193 9,256,791 2010 5.500% 415,858 304,468 720,326 8,840,933 2011 5.500% 429,018 292,532 721,550 8,411,915 2012 5.500% 442,178 279,896 722,074 7,969,737 2013 5.500% 455,338 266,430 721,768 7,514,399 2014 5.500% 468,498 252,224 720,722 7,045,901 2015 5.500% 484,290 237,214 721,504 6,561,611 2016 5.500% 500,083 221,339 721,422 6,061,528 2017 5.500% 515,875 204,700 720,575 5,545,653 2018 5.500% 534,299 187,239 721,538 5,011,354 2019 5.500% 552,723 168,894 721,617 4,458,631 2020 5.500% 571,147 149,645 720,792 3,887,484 2021 5.500% 592,203 129,429 721,632 3,295,281 2022 5.500% 613,259 108,334 721,593 2,682,022 2023 5.500% 634,315 86,184 720,499 2,047,707 2024 5.500% 658,003 62,922 720,925 1,389,704 2025 5.500% 681,691 38,637 720,328 708,013 2026 5.500% 708,013 13,098 721,111 - 2026 $ 10,370,133 $ 4,051,531 $ 14,421,664 337,500 Certificate of Obll ration - IVIDD Portion ISeries 2007 Date of Issue - February 1, 2007 Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2008 5.875% $ 55,385 $ 300,653 $ 356,038 $ 4,444,615 2009 5.875% 155,769 198,911 354,680 4,288,846 2010 5.875% 162,692 189,357 352,049 4,126,154 2011 5.875% 169,615 179,388 349,003 3,956,539 2012 5.875% 176,538 169,003 345,541 3,780,001 2013 5.875% 183,462 158,203 341,665 3,596,539 2014 4.375% 192,115 148,137 340,252 3,404,424 2015 3.875% 199,038 139,593 338,631 3,205,386 2016 3.875% 209,423 131,424 340,847 2,995,963 2017 4.000% 218,077 122,874 340,951 2,777,886 2018 4.000% 228,462 113,943 342,405 2,549,424 2019 4.100% 237,115 104,483 341,598 2,312,309 2020 4.125% 247,500 94,488 341,988 2,064,809 2021 4.200% 257,885 83,903 341,788 1,806,924 2022 4.250% 268,270 72,723 340,993 1,538,654 2023 4.300% 280,385 61,064 341,449 1,258,269 2024 4.350% 292,500 48,890 341,390 965,769 2025 4.400% 306,346 35,973 342,319 659,423 2026 4.400% 321,923 22,230 344,153 337,500 2027 4.450% 337,500 7,594 345,094 - $ 4,500,000 $ 2,382,832 $ 6,882,832 15 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2008 559,131 $ 262,640 $ 262,640 $ 13,860,814 2009 4.000% $ 413,475 561,311 974,786 13,447,339 2010 4.000% 434,619 544,349 978,968 13,012,720 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 3.500% 479,255 511,236 990,491 4.000% 505,097 492,747 997,844 4.000% 530,940 472,026 1,002,966 4.000% 559,131 450,225 1,009,356 4.000% 587,323 427,296 1,014,619 4.000% 617,863 403,192 1,021,055 4.000% 648,404 377,867 1,026,271 4.000% 681,294 351,273 1,032,567 4.000% 716,534 323,316 1,039,850 4.000% 754,122 293,903 1,048,025 4.000% 791,711 262,987 1,054,698 4.125% 831,649 230,000 1,061,649 4.250% 876,285 194,226 1,070,511 4.250% 920,922 156,035 1,076,957 4.400% 967,908 115,172 1,083,080 4.500% 1,017,243 70,990 1,088,233 4.500% 1,068,927 24,051 1,092,978 $ 13,860,814 $ 7,052,483 $ 20,913,297 12,075,353 11,570,256 11,039,316 10,480,185 9,892,862 9,274,999 8,626,595 7,945,301 7,228,767 6,474,645 5,682,934 4,851,285 3,975,000 3,054,078 2,086,170 1,068,927 Fiscal Interest Principal Total. Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2009 4.07% $ 108,257 $ 40,700 $ 148,957 $ 891,743 2010 4.07% 112,664 36,294 148,957 779,079 2011 4.07% 117,249 31,709 148,957 661,830 2012 4.07% 122,021 26,936 148,957 539,809 2013 4.07% 126,987 21,970 148,957 412,822 2014 4.07% 132,156 16,802 148,957 280,666 2015 4.07% 137,534 11,423 148,957 143,132 2016 4.07% 143,132 5,825 148,957 - $ 1,000,000 $ 191,660 $ 1,191,659 16 BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT DETAIL DEBT AMORTIZATION SCHEDULES Certificates of Obligation - Combined Tax & Revenue Aquatics portion of debt $ 6,030,000 Series 2010 Date of Issue - Term - 20 Years Fiscal Interest Principal Total Total Debt Balance of Year Rate Due 211 Interest for Fiscal Yr Principal 2010 $ 84,635 $ 84,635 $ 6,030,000 2011 1.00% 235,000 203,313 438,313 5,795,000 2012 1.00% 225,000 201,013 426,013 5,570,000 2013 2.00% 240,000 197,488 437,488 5,330,000 2014 2.00% 235,000 192,738 427,738 5,095,000 2015 2.00% 250,000 187,888 437,888 4,845,000 2016 3.00% 245,000 181,713 426,713 4,600,000 2017 3.00% 260,000 174,138 434,138 4,340,000 2018 3.00% 260,000 166,338 426,338 4,080,000 2019 3.50% 280,000 157,538 437,538 3,800,000 2020 3.50% 280,000 147,737 427,737 3,520,000 2021 3.50% 295,000 137,674 432,674 3,225,000 2022 3.63% 300,000 127,074 427,074 2,925,000 2023 3.75% 320,000 115,637 435,637 2,605,000 2024 4.00% 325,000 103,137 428,137 2,280,000 2025 4.00% 345,000 89,737 434,737 1,935,000 2026 4.13% 350,000 75,619 425,619 1,585,000 2027 4.25% 375,000 60,431 435,431 1,210,000 2028 4.25% 380,000 44,387 424,387 830,000 2029 4.38% 410,000 27,344 437,344 420,000 2030 4.38% 420,000 9,187 429,187 - $ 6,030,000 $ 2,684,766 $ 8,714,766 17