USING DEBT TO ACCELERATING FUNDING LOCAL CASE STUDIES

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USING DEBT TO ACCELERATING FUNDING LOCAL CASE
STUDIES

• Orange County, FL, Convention Center
• Roadway Improvements
• FGFOA - May 22, 2007

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Accelerating Road Funding Case Studies

• Accelerated Funding for Orange County Road
  Improvements
• Canadian Court Extension
• Universal/528 Interchange

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Accelerating Road Funding Case Studies

• Canadian Court Extension
• New 4-Lane Roadway
• International Drive to John Young Parkway
• Convention Center East Access Road
• Developer Agreement

150 R/W
R/W LINE
R/W LINE
5 Sidewalk
5 Sidewalk
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Accelerating Road Funding Case Studies
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CANADIAN COURT EXTENSION AGREEMENT

• Developer Obligations
• Roadway Design
• Wetland Mitigation/Environmental Permitting
• Dedication of Right-of-Way
• County Obligations
• Reimbursement for Design
• Construction
• Project Cost
• 35 million total cost
• 22 Million Funding Gap

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Canadian Court Aerial
Canadian Court Extension
UNIVERSAL BOULEVARD
JOHN YOUNG PARKWAY
SR 528
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Canadian Court Aerial
Canadian Court Extension
I-DRIVE
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CANADIAN COURT ACCELERATED FUNDING PLAN
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ACCELERATED FUNDING PLAN

• Funding Plan Topics
• Historical Revenue
• Funding Plan
• Summary

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ACCELERATED FUNDING PLAN

• Historical CRA Revenue
• Annual property tax increment
• Increment growing
• 2000 Increment 1 million
• 2007 Projected Increment 6 million
• BCC determines annual amount for CRA and General
  Fund

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FUNDING PLAN
Historical CRA Revenue (in millions)
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ACCELERATED FUNDING PLAN

• New projects to increase CRA revenue

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ACCELERATED FUNDING PLAN

• CRA financial projections strong
• 8.5 million current cash
• 6 million FY2007 increment revenue
• Future growth from current development
• 40 million in cash (2006 2010) for projects
• Cash Fund if construction takes 4 years
• Issue 5 year debt if funding needed now

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ACCELERATED FUNDING PLAN

• Cash funding
• Cash and short-term loans pay construction
  expenses
• Lower short-term interest rates
• Future CRA growth is sufficient
• Pays project expenses and repays any short-term
  loans

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ACCELERATED FUNDING PLAN

• Reimbursement Resolutions
• Allows future CRA debt to reimburse project costs
• Non-binding - BCC would approve future CRA debt
• Maintain flexibility to fund future CRA projects
• After Canadian Ct
• BCC can consider new projects or transfers
  revenue to the General Fund

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ACCELERATED FUNDING PLAN

• Summary
• CRA grows
• Project necessary
• Invest in project
• 40 million 5 years
• Cash and short-term loans
• Avoid increased construction costs

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Accelerating Road Funding Case Studies

• Accelerated Funding for Orange County Road
  Improvements
• Canadian Court Extension
• Universal/528 Interchange

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Accelerated Interchange
The Master Plan

• 1998 OCCC expansion plan
• Add 1 Million Square Feet of Exhibition Space
• Complete Phase V on time (Fall 2003) and within
  budget
• Enhance Transportation Network
• Extensive road improvements
• 8 major projects over 15 miles of new roads
• Over 100 million
• New Bee Line Interchange

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OCCC North Building
Univ Blvd
528 Beach Line
I-4
34
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ACCELERATED FUNDING PLAN

• Interchange Partnership
• OCCC, County, developers fund Universal Blvd
• Interchange Partnership
• Florida Turnpike Enterprise
• State OTTED Grant
• Orange County

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528/Universal Interchange
Univ Blvd
Internl Dr
JOHN YOUNG PKWY
SR 528
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USING DEBT TO ACCELERATING FUNDING LOCAL CASE
STUDIES

• Orange County, FL, Convention Center
• Roadway Improvements
• FGFOA - May 22, 2007