Atlanta Beltline Budget Briefing FY20 Budget Fiscal Year 2020 // May 8, 2019

// Atlanta BeltLine Budget Briefing FY20 Budget Fiscal Year 2020 // May 8, 2019

• Atlanta BeltLine Budget Structure • Budget Overview . TAD Forecast / Cash Projection . FY20 Budget: Revenue / Expense - Summary . FY20 Budget: Revenue / Expense - Detail • Project Summary . Parks & Trails: Planning, Design & Construction . Transit & Transportation: Planning, Design & Construction • Q & A

Revenue Budget Expense

DEBT SERVICE

TAD / BONDS PILOT FEES

CAPITAL ABP / COA PROJECTS / ABI PROGRAMS FTA / FHWA GDOT/ARC G & A IA / TSPLOST

Atlanta BeltLine TAD FY 20 Budget FY 19 Budget FY20 Increment Available for Redevelopment

Projected Ending Cash Available at 6/30 $ 18,000,000 $ 10,000,000

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Beginning Cash Available at 7/1 $ 18,000,000 $ 10,000,000

Sources Tax Increment Forecast $ 46,632,035 $ 35,119,190

Total Cash Available for FY20 $ 64,632,035 $ 45,119,190

Uses FY 20 Budget FY 19 Budget

Debt Service on Atlanta BeltLine TAD Bonds (16,688,198) (16,686,220) Debt Service on Bank Loan (Principal) (2,767,805) (2,598,878) Interest Payment on Bank Loan (405,761) (343,834) APS PILOT Payment (2,000,000) (2,000,000) - - Fulton County PILOT Payment (1,350,000) (1,350,000)

IA PCR Direct/Indirect TAD Group (incl URFA) (500,000) (500,000) EPA Revolving Loan Fund (41,789) (41,789) Atlanta BeltLine TAD Other (Audit, Bank Fees, Legal Fees, etc.) (100,000) (100,000)

Total Uses for FY20 (23,853,554) (23,620,721)

Net Available for FY20 Redevelopment $ 40,778,481 $ 21,498,469

Less: Year-End Cash Balance Forward Amount $ (8,000,000) $ (6,000,000)

Net Available for FY20 Redevelopment $ 32,778,481 $ 15,498,469

FY20 Budget FY20 Budget Account Description (TOTAL) (TAD ONLY) FY19 Budget Diff

PROJECTED REVENUES 1 TAD Increment Available for Redevelopment $ 32,778,481 $ 32,778,481 $ 15,498,469 $ 17,280,012 2 Bond Proceeds 23,682,848 $ 28,247,120 $ (4,564,272) 3 Atlanta BeltLine Partnership (ABLP) 8,620,500 $ 6,765,000 $ 1,855,500 4 City of Atlanta (COA) 1,804,500 $ 669,369 $ 1,135,131 5 TSPLOST 10,599,000 $ 11,088,601 $ (489,601) 6 MARTA - $ 1,537,020 $ (1,537,020) 7 Invest Atlanta - Eastside TAD Grant 192,615 $ 73,640 $ 118,975 8 Invest Atlanta - Westside TAD Grant 42,750 $ 107,720 $ (64,970) 9 Invest Atlanta - REBA Grant 462,800 $ 665,300 $ (202,500) 10 Federal Transit Adminstration (FTA) 1,244,725 $ 2,120,700 $ (875,975) 11 Federal Highway Administration (FHWA) 7,350,400 $ 9,829,600 $ (2,479,200) 12 National Park Service 300,000 $ - $ 300,000 13 GDOT - TE Grant 562,000 $ 562,399 $ (399) 14 Fulton County, Ga Council for the Arts 26,000 $ 27,000 $ (1,000) 15 National Endowment for the Arts (NEA) 10,000 $ 15,000 $ (5,000) 16 Annie E. Casey Fdtn - $ 10,800 $ (10,800) 17 EPA 500,000 $ - $ 500,000 18 Lease Income 452,453 452,453 $ 382,257 $ 70,196 19 Organic Landcare Symposium (OLCS), AH Fees - $ 5,000 $ (5,000) 20 Non-Cash Revenue: Cap Int, Amort, Depreciation 283,500 $ 274,000 $ 9,500 21 Licensing Revenue 17,500 $ 17,500 $ - TOTAL PROJECTED REVENUES $ 88,930,072 $ 33,230,934 $ 77,896,495 $ 11,033,577 = > RESTRICTED REVENUE SOURCES $ 55,850,590.67 $ 55,868,089.67 $ (17,499)

PROJECTED EXPENSES $ 55,868,089.67 $ (17,499.00) 63% FY20 Budget FY20 Budget Administrative and Operating Expenses: (TOTAL) (TAD ONLY) FY19 Budget Diff 1 Salaries & Benefits (51 FT) $ 7,828,361 $ 7,828,361 $ 7,488,509 $ 339,852 2 Lease $ 439,611 $ 439,611 $ 418,360 $ 21,251

3 Interest Expense $ - $ - $ - $ - 4 Other Operating Expenses $ 1,142,111 $ 1,142,111 $ 1,138,813 $ 3,298 TOTAL PROJECTED ADMIN & OPERATING EXP $ 9,410,083 $ 9,410,083 $ 9,045,681 $ 364,401 364,401 Program Expenses: 5 Parks & Trails (Planning, Design & Construction) $ 41,602,500 $ 6,596,250 $ 36,358,344 $ 5,244,156 6 Transit & Transportation (P, D and C) $ 6,712,500 $ 120,160 $ 9,700,369 $ (2,987,869) 7 Real Estate Asset Management $ 13,720,511 $ 2,257,963 $ 12,055,300 $ 1,665,211 8 Community Planning & Engagement & Arts/Culture $ 1,000,385 $ 769,885 $ 903,950 $ 96,435 9 Government Affairs $ 150,000 $ 150,000 $ 150,000 $ - 10 Economic Development $ 2,490,000 $ 415,000 $ 1,576,500 $ 913,500 11 Affordable Housing Development $ 11,958,930 $ 11,958,930 $ 6,350,000 $ 5,608,930 12 Communications & Media Relations $ 262,108 $ 262,108 $ 229,908 $ 32,200 13 Legal $ 653,600 $ 604,600 $ 629,042 $ 24,558 14 Equity & Inclusion $ 60,000 $ 60,000 $ 60,000 $ - 15 Finance $ 247,955 $ 247,955 $ 263,400 $ (15,445) 16 Operations $ 300,000 $ 300,000 $ 222,000 $ 78,000 17 Corporate Development $ 78,000 $ 78,000 $ 78,000 $ -

TOTAL PROJECTED PROGRAM EXPENSES $ 79,236,489 $ 23,820,851 $ 68,576,813 $ 10,659,676

FY20 ABI PROJECTED BUDGET $ 88,646,572 $ 33,230,935 $ 77,622,494 $ 11,024,077

NET INCOME $ 283,500 $ (0) $ 274,000 $ 9,500

DEPRECIATION EXPENSE $ 283,500 $ - $ 274,000 $ 9,500

NET INCOME AFTER DEPRECIATION $ 0 $ (0) $ 0 $ 0

PROJECTED EXPENSES VARIANCE $ % Administrative and Operating Expenses: FY20 Budget FY19 Budget $ % 1 Salaries & Benefits $ 7,828,361 $ 7,488,509 $ 339,852 4.5% Funds 51 FT positions, Health Benefits, Retirement Benefits 2 Lease $ 439,611 $ 418,360 21,251 5.1% Year 4: Perm Lease began 7/1/15. Payments began 7/1/16, following 12 mo. rent abatement.

3 Interest Expense $ - $ - - 0.0% Interest on RE Acquisitions, Line of Credit

4 Other Operating Expenses $ 1,142,111 $ 1,138,813 3,298 0.3% Includes: Audit Fees, IT Costs, Insurance, Copiers, Telephone, Data Lines, Conferences, Travel, Office Supplies, Repair/Maintenance TOTAL PROJECTED ADMIN & OPERATING EXP $ 9,410,083 $ 9,045,681 $ 364,402 4.0%

2020 FISCAL YEAR Account Description Total Salaries $ 5,693,785 Mobile Communications $ 48,900 EE Costs $ 7,600 Health Insurance $ 1,048,478 Transit / Parking $ 58,546 Medicare (1.45%) $ 82,560 SUTA (2.8% of 1st $9.5K)+Experience Factor $ 34,424 401A Contributions $ 854,068 Other $ - SALARIES & BENEFITS SUBTOTAL $ 7,828,361

2020 FISCAL YEAR Account Description Total OTHER OPERATING EXPENSES (Continued) Adv Print Expense $ 120 Advertising & Marketing $ 3,600 Audit & Tax $ 24,000 Bank Charges $ 6,000 Computer Equipment/Software $ 215,081 Conferences (Registration Fees Only ) $ 74,430 Consulting $ 17,000 Copiers $ 37,200 Courier & Packages $ 9,160 Postage (Lease) $ 1,860 Strategic Corporate Sponsorships / Donations $ 31,750 Insurance Expense $ 220,000 Legal & Prof $ 240 Meals & Entertainment (Local) $ 23,240 Meals & Entertainment (Travel) $ 30,130

2020 FISCAL YEAR Account Description Total OTHER OPERATING EXPENSES (Continued) General Meeting $ 10,000 Membership Dues $ 67,210 Office Beverages $ 9,600 Office Supplies $ 54,314 Payroll Processing $ 8,000 Rent $ 439,611 Repairs & Maintenance $ 4,000 Recruitment $ 12,000 Subscriptions - Media/Periodicals $ 17,736 Telephones $ 2,000 Telephone/Communications $ 2,640 Telephone/Conference Calls $ 984 Data Lines $ 11,808 Training & Prof Development $ 70,160

2020 FISCAL YEAR Account Description Total OTHER OPERATING EXPENSES (Continued) Airfare $ 52,758 Hotels/Lodging $ 98,205 Parking/Tolls/Cab/Mileage/Transit $ 17,045 Validated Parking $ 6,000 Janitorial $ 2,640 Sanitation / Trash / Recycling $ 1,200 OPERATING EXPENSE SUBTOTAL $ 1,581,722

Fiscal Year 2020 // May 8, 2019

PROJECTED EXPENSES VARIANCE $ % Program Expenses: FY20 Budget FY19 Budget $ % 5 Parks & Trails (Planning, Design, & Construction) $ 41,602,500 $ 36,358,344 $ 5,244,156 14.4% SS Trail (design & construction), NE Trail (design & construction), Bill Kennedy Way (design), NW Trail (design), Enota Park, Blvd Crossing, Murphy Crossing, Wayfinding 6 Transit & Transportation (P, D & C) $ 6,712,500 $ 9,700,369 $ (2,987,869) -30.8% EA & Engineering: ABL East, ABL West, Purple Line, & ABL Crosstown - Downtown & Midtown, Southside, A-Line Ext, Ponce Streetscapes, Bridge/Street Review 7 Real Estate Asset Management $ 13,720,511 $ 12,055,300 $ 1,665,211 13.8% Property Management & Maintenance, Acquisitions, Easements 8 Community Planning & Engagement $ 1,000,385 $ 903,950 $ 96,435 10.7% TADAC / BAHAB Reimbursements, Meeting Facilities, Planning Consultant - DRC, Master Plan Updates 9 Government Affairs $ 150,000 $ 150,000 $ - 0.0% Federal/State/Local Lobbyist

PROJECTED EXPENSES VARIANCE $ % Program Expenses: FY20 Budget FY19 Budget $ % 10 Economic Development $ 2,490,000 $ 1,576,500 $ 913,500 57.9% Corridor Activation, Murphy Crossing, Workforce Development 11 Affordable Housing Development $ 11,958,930 $ 6,350,000 $ 5,608,930 88.3% Developer Incentives, Pre-Development & Land Acquisition

12 Communications & Media Relations $ 262,108 $ 229,908 $ 32,200 14.0% Website hosting & support, Newsletter design and printing, Mobile Access Enhancement, Photography, Annual Report, Media Tracking 13 Legal $ 653,600 $ 629,042 $ 24,558 3.9% Projected Legal costs for FY20

14 Equity & Inclusion $ 60,000 $ 60,000 $ - 0.0% Projected E&I costs for FY20

15 Finance $ 247,955 $ 263,400 $ (15,445) -5.9% Operational Capital, including computers, furniture, phones

16 Operations $ 300,000 $ 222,000 $ 78,000 35.1% Operational Contingency

17 Corporate Development $ 78,000 $ 78,000 $ - 0.0% Strategic Initiatives

TOTAL PROJECTED PROGRAM EXPENSES $ 79,236,489 $ 68,576,813 $ 10,659,676 15.5%

FY20 ABI PROJECTED BUDGET $ 88,646,572 $ 77,622,494 $ 11,024,078 14.2%

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Southside Trail (Design, Construction) $ 12,230,000 $ (4,534,000) $ (7,696,000) $ - Bill Kennedy Way (Design) $ 2,000,000 $ - $ (2,000,000) $ - Northeast Trail (Design, Construction) $ 10,740,000 $ (2,964,000) $ (2,396,000) $ 5,380,000 Enota Park (Construction) $ 6,388,000 $ (6,388,000) $ - $ - Boulevard Crossing (Design) $ 1,512,000 $ - $ (1,512,000) $ - ES Trail / NS Trail (Lighting & Cameras) $ 2,666,000 $ (2,666,000) $ - $ - WST North Extension (Design) $ 1,250,000 $ - $ (750,000) $ 500,000 NW Corridor Alternatives Analysis $ 1,000,000 $ - $ (1,000,000) $ - 1385 RDA Trailhead (Design, Construction) $ 1,105,000 $ - $ (1,000,000) $ 105,000

Other Projects (SIP Update, Signage & Wayfinding, Trail Counter, Brownfield Assessment/Cleanup, etc.) $ 2,711,500 $ (617,500) $ (1,482,750) $ 611,250

Total $ 41,602,500 $ (17,169,500) $ (17,836,750) $ 6,596,250

Southside Trail

• Design of a 4-mile trail between Glenwood Avenue and University Avenue • The $8.2M design, which is largely being funded using federal funds, is expected to take 18 months to complete

• The Trail is the longest trail designed by ABI to date • The Trail will connect the Eastside Trail and Westside Trail, resulting in an 11- mile contiguous trail when completed (assuming Bill Kennedy Way is addressed)

• The Trail will serve Ormewood Park, Grant Park, Chosewood Park, Peoplestown, South Atlanta, Pittsburgh, High Point, Villages at Carver, Capitol View Manor and Capitol View neighborhoods

• Trail will include lighting and security cameras at entry points

Southside Trail Design $ 3,480,000 Construction $ 8,750,000 GDOT / ARC $ (2,784,000) ABLP $ (1,750,000) Bond Proceeds $ (7,696,000) Total - Net to TAD $ -

Bill Kennedy Way • Design of a 0.5-mile of in-street running trail from Memorial Drive to Glenwood Ave and a new pedestrian bridge across I- 20, which will provide the critical link between the Eastside Trail and the Southside Trail • With the Eastside Extension opening this year, having a plan to provide the linkage between the Eastside Trail and the Southside will be critical for public safety • This trail is complicated by a narrow commercial corridor and the need for a new above grade crossing of I-20

Bill Kennedy Way Design $ 2,000,000 GDOT / ARC $ - Bond Proceeds $ (2,000,000) Total - Net to TAD $ -

Northeast Trail

• Design of a 3.9-mile trail between Monroe Drive and the Lindbergh MARTA Station

• The $9M design, which is partially being funded by federal funds, is expected to take 24-30 months to complete

• The Trail will extend the existing in-Corridor trail network over Clear Creek, Peachtree Creek and an active CSX freight line, resulting in a 15-mile contiguous trail when completed

• The Trail will consider connections to the PATH 400 Trail as well as the North and South Fork trails

• The Trail will serve Morningside/Lenox Park, Ansley Park, Piedmont Heights, Sherwood Forest, Armour-Ottley, and Peachtree Hills neighborhoods

• Trail will include lighting and security cameras at entry points

Northeast Trail Design, Construction $ 10,740,000 FHWA (via GDOT / ARC) $ (2,464,000) Bond Proceeds $ (2,396,000) ABP $ (500,000) Total - Net to TAD $ 5,380,000

Boulevard Crossing Park

• Expansion of the existing temporary playing fields to create the full 25+ acre park

• Revisit the park master plan to better account for a larger park footprint, topographic opportunities, and to better coordinate with AHA and other adjacent property owners

Boulevard Crossing Park Design $ 1,512,000

Enota Park

• Expansion of an existing pocket park located on Enota Place • Anticipated to be the first fully developed Atlanta BeltLine Park along the Westside Trail • Situated on the Westside Trail between I-20 and Lucile Avenue • Expanded park will be nearly 8 acres and include restored forest habitats, protection of one of Proctor Creek headwaters, as well as both active and passive park uses

Enota Park Construction $ 6,388,000 ABLP $ (6,088,000) National Park Service $ (300,000) Bond Proceeds $ - Total - Net to TAD $ -

Westside Trail Extension (North)

• Design of a 1.3-mile trail between Washington Park through the Kudzu Line

• The previous $31M construction project, which was largely funded using an $18M TIGER grant and philanthropic donations, began in 2015 and reached substantial completion in 2017

• The WST Extension Trail will serve Adair Park, West End, Oakland City, Westview, Ashview Heights, Mozely Park, and Just Us neighborhoods

• The Trail will connect 4 parks and improve access to 4 schools • The Trail includes 14 access points as well as trail lighting and security cameras at entry points

Westside Trail Extension (North) Design $ 1,250,000 $ - $ - Bond Proceeds $ (750,000) Total - Net to TAD $ 500,000

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Downtown Streetcar East Ext [A-Line] (Design) $ 1,502,000 $ (1,381,840) $ - $ 120,160 Ponce de Leon Streetscape $ 2,628,000 $ (2,365,200) $ (262,800) $ - NW Corridor Feasibility Analysis $ 450,000 $ - $ (450,000) $ - Renew Atlanta Bond Projects: RDA, University $ 1,930,000 $ (1,930,000) $ - $ -

Other (NEPA, Streetscape Program Analysis) $ 202,500 $ (98,250) $ (104,250) $ -

$ - $ - $ - $ -

Total $ 6,712,500 $ (5,775,290) $ (817,050) $ 120,160

A-Line, East Extension Engineering Design • Advance the level of engineering design based on additional utility and geotechnical information

Downtown Streetcar - East Ext Engineering Design $ 1,502,000 ARC / FHWA $ (1,201,600) Eastside TAD $ (180,240) Total - Net to TAD $ 120,160

Ponce de Leon Streetscape Ponce de Leon Streetscape • Complete-street upgrade (bicycles/pedestrians) Construction $ 2,628,000 • Boulevard/Monroe Drive to Freedom Parkway ARC / FHWA / LCI $ (2,102,400) • FY 2019 Activities REBA Grant $ (262,800) Complete Design o 2016 Bonds $ (262,800) o Complete Right-of-Way Acquisition • In partnership with GDOT/Jamestown Properties Total - Net to TAD $ - • Construction FY 2020 - 2021

Northwest Corridor Feasibility Analysis • Determination of alignments • Conceptual Engineering of corridors • Documentation

NW Corridor Feasibility Analysis NW Feasibility Analysis $ 450,000

2016 Bonds $ (450,000) Total - Net to TAD $ -

Ralph David Abernathy Blvd • Renew Atlanta Complete Street Conversion Project between Cascade Avenue to MLK Jr. Drive • Design complete in Spring 2019 • Construction complete in Spring 2020

Avon Avenue/University Avenue Scoping Study • Compile a GDOT Concept Report for a complete street conversion, from Murphy Avenue to Hank Aaron Drive • Finalize Design Concept Report FY19, determine Construction readiness FY19-20

Complete Street Projects Ralph David Abernathy Blvd $ 1,030,000 University Avenue $ 700,000 Renew Atlanta Bonds $ (1,730,000) Total - Net to TAD $ -

Transit Clearance Program, “NEPA 1” • Prepare conceptual engineering plans • Obtain environmental clearance for: o Atlanta BeltLine West (Green, West) o Under FTA review o Crosstown Midtown (Orange) o Under FTA review o Atlanta BeltLine East (Green, East) o Crosstown Downtown (Purple)

Key Issues • Minimize and/or mitigate environmental impacts • Determine transit alignments at Hulsey Yard • Determine MARTA connection locations

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET BAHAB Reimbursements $ 2,000 $ - $ - $ 2,000 TADAC Reimbursements $ 2,000 $ - $ - $ 2,000 Meeting Facilities / Printing / Signage $ 32,615 $ - $ - $ 32,615 Planning Consultant: DRC Standards $ 150,000 $ - $ - $ 150,000 5-year Updates to SubArea Master Plans $ 355,000 $ - $ - $ 355,000 Neighborhood Meet & Greet $ - $ - $ - $ - BeltLine University $ 20,000 $ - $ - $ 20,000 Consultant: Our BeltLine, AoB $ 35,000 $ - $ - $ 35,000 Other (DRC, Tours, Mailchimp, etc.) $ 4,970 $ - $ - $ 4,970 Arts & Culture $ 398,800 $ (230,500) $ - $ 168,300 Total $ 1,000,385 $ (230,500) $ - $ 769,885

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Newsletter Printing/Design/Distribution $ 12,000 $ - $ - $ 12,000 Photography (events, proj development, etc.) $ 30,000 $ - $ - $ 30,000 Video (events, proj dev, grand openings, etc.) $ 56,244 $ - $ - $ 56,244 Advertising (Art on the Beltline, Specific Dev) $ 21,880 $ - $ - $ 21,880 Annual Report, Collateral Design/Printing $ 35,700 $ - $ - $ 35,700 Website Hosting & Support $ 57,044 $ - $ - $ 57,044 Social Studio / Graphic Design Consultant $ 18,000 $ - $ - $ 18,000 e News - weekly (email): Mailchimp $ 4,500 $ - $ - $ 4,500 SalesForce $ 14,340 $ - $ - $ 14,340 Special Events, Tours $ 12,400 $ - $ - $ 12,400 Total $ 262,108 $ - $ - $ 262,108

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Federal/State/Local Lobbyist $ 144,000 $ - $ - $ 144,000

Tours (Elected Officials) $ 6,000 $ - $ - $ 6,000

Total $ 150,000 $ - $ - $ 150,000

Fiscal Year 2020 // May 8, 2019

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET Sources: FY19 Carryover (projected) $ 1,389,000 $ - $ - $ 1,389,000

FY19 Revenue Calculation Carryover (projected) $ 7,896,250 $ - $ - $ 7,896,250

FY20: > 20% of Net Avail TAD Increment or $1M $ 2,673,680 $ - $ - $ 2,673,680

Total (Sources) $ 11,958,930 $ - $ - $11,958,930

Uses:

Predevelopment & Land Acquisition $ 9,183,530 $ - $ - $ 9,183,530

Affordable Housing Incentives $ 2,000,000 $ - $ - $ 2,000,000

Chosewood Park Planning / AHA Coordination $ 300,000 $ - $ - $ 300,000

Live Along the BeltLine Websites, Tours $ 3,500 $ - $ - $ 3,500

Housing Services: Implementation, Broker, Financial Modeling $ 157,500 $ - $ - $ 157,500

Interest: Line of Credit $ 314,400 $ - $ - $ 314,400

Total (Uses) $ 11,958,930 $ - $ - $11,958,930

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Corridor Activation & Monetization (Container) $ 50,000 $ - $ - $ 50,000 Strategic Commercial Node Planning (Boone, SST, Murphy, RDA) $ 50,000 $ - $ - $ 50,000 Workforce Development $ 100,000 $ - $ - $ 100,000 Commercial Vending Feasibility Planning (Phase I) $ 36,000 $ - $ - $ 36,000 Commercial District Way-Finding $ 25,000 $ - $ - $ 25,000 E-Way Finding and Handicap Accessibility $ 25,000 $ - $ - $ 25,000 Economic Messaging $ 25,000 $ - $ - $ 25,000 Murphy Crossing: Site Activation/Overlay $ 50,000 $ - $ (50,000) $ - Conduit Maintenance $ 75,000 $ - $ - $ 75,000 Property Acquisition & Operations $ 1,825,000 $ - $ (1,825,000) $ - Corridor Revitalization, Façade Improvement $ 200,000 $ - $ (200,000) $ - Incentive Matching (New Business Attraction) $ - $ - $ - $ - Other (Existing Conditions Update, Business $ 29,000 $ - $ - $ 29,000 Outreach, Statistics Dashboard, Tours) Total $ 2,490,000 $ - $ (2,075,000) $ 415,000

Fiscal Year 2020 // May 8, 2019

EXPENSES REVENUES PROCEEDS BUDGET

Outside Legal Services $ 375,000 $ - $ 375,000 Title, Survey & Other RE Related Expenses $ 36,000 $ - $ 36,000 RFP / RFQ Ads $ 9,600 $ - $ 9,600 SID $ 90,000 $ - $ 90,000 SST, Opportunistic RE Acq: ROW, Titles, Appraisals $ 61,500 $ - $ (31,500) $ 30,000 Licensing / Branding $ 77,500 $ (17,500) $ - $ 60,000 Compliance Hotline $ 4,000 $ - $ - $ 4,000

Total $ 653,600 $ (17,500) $ (31,500) $ 604,600

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Equity & Inclusion Framework Expansion $ 60,000 $ - $ - $ 60,000

Total $ 60,000 $ - $ - $ 60,000

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

Furniture & Fixtures $ 56,400 $ - $ - $ 56,400

Computer Equipment, Software, Phone System $ 191,555 $ - $ - $ 191,555

Total $ 247,955 $ - $ - $ 247,955

PROJECT NON-TAD BOND NET TAD EXPENSES REVENUES PROCEEDS BUDGET

ABI Contingency / Strategic Initiatives $ 378,000 $ - $ - $ 378,000

Total $ 378,000 $ - $ - $ 378,000

Fiscal Year 2020 // May 8, 2019