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Projected Pay -As- You -Go Note Report
<br />City of Elk River, Minnesota
<br />Tax Increment Financing (Housing) District No. 24
<br />Blackhawk Woods Senior Housing Project
<br />Preliminary TIF Projections: 84 -unit Townhomes 4d classification
<br />Note Date: 12/31/13
<br />Note Rate: 4.70%
<br />Amount: $996,871
<br />Cumulative Unpaid Semi - Annual Loan
<br />Interest Accrued Net Balance
<br />Date Principal Interest P & I Due Interest Revenue Outstanding
<br />(1) (2) (3) (4) (5) (6) (7) (8)
<br />$996,871 $769,397.85 $1,766,268.85 $618,754.94 $1,766,268.85
<br />Surplus Tax Increment 324,501.15
<br />Total Net Revenue $2,090,770.00
<br />Public Sector Advisors
<br />996,871.00
<br />02/01/14
<br />0.00
<br />0.00
<br />0.00
<br />3,904.41
<br />3,904.41
<br />0.00
<br />996,871.00
<br />08/01/14
<br />0.00
<br />0.00
<br />0.00
<br />27,330.88
<br />27,330.88
<br />0.00
<br />996,871.00
<br />02/01/15
<br />0.00
<br />0.00
<br />0.00
<br />50,757.35
<br />50,757.35
<br />0.00
<br />996,871.00
<br />08/01/15
<br />0.00
<br />0.00
<br />0.00
<br />74,183.82
<br />74,183.82
<br />0.00
<br />996,871.00
<br />02/01/16
<br />0.00
<br />0.00
<br />0.00
<br />97,610.29
<br />97,610.29
<br />0.00
<br />996,871.00
<br />08/01/16
<br />0.00
<br />27,985.00
<br />27,985.00
<br />121,036.76
<br />93,051.76
<br />27,985.00
<br />996,871.00
<br />02/01/17
<br />0.00
<br />27,985.00
<br />27,985.00
<br />116;478.23
<br />88,493.23
<br />27,985.00
<br />996,871.00
<br />08/01/17
<br />0.00
<br />40,696.00
<br />40,696.00
<br />111,919.70
<br />71,223.70
<br />40,696.00
<br />996,871.00
<br />02/01/18
<br />0.00
<br />40,696.00
<br />40,696.00
<br />94,650.17
<br />53,954.17
<br />40,696.00
<br />996,871.00
<br />08/01/18
<br />0.00
<br />40,696.00
<br />40,696.00
<br />77,380.64
<br />36,684.64
<br />40,696.00
<br />996,871.00
<br />02/01/19
<br />0.00
<br />40,696.00
<br />40,696.00
<br />60,111.11
<br />19,415.11
<br />40,696.00
<br />996,871.00
<br />08/01/19
<br />0.00
<br />40,696.00
<br />40,696.00
<br />42,841.58
<br />2,145.58
<br />40,696.00
<br />996,871.00
<br />02/01120
<br />15,123.95
<br />25,572.05
<br />40,696.00
<br />25,572.05
<br />0.00
<br />40,696.00
<br />981,747.05
<br />08/01120
<br />17,624.94
<br />23,071.06
<br />40,696.00
<br />23,071.06
<br />0.00
<br />40,696.00
<br />964,122.11
<br />02/01/21
<br />18,039.13
<br />22,656.87
<br />40,696.00
<br />22,656.87
<br />0.00
<br />40,696.00
<br />946,082.98
<br />08/01/21
<br />18,463.05
<br />22,232.95
<br />40,696.00
<br />22,232.95
<br />0.00
<br />40,696.00
<br />927,619.93
<br />02/01/22
<br />18,896.93
<br />21,799.07
<br />40,696.00
<br />21,799.07
<br />0.00
<br />40,696.00
<br />908,723.00
<br />08/01/22
<br />19,341.01
<br />21,354.99
<br />40,696.00
<br />21,354.99
<br />0.00
<br />40,696.00
<br />889,381.99
<br />02/01123
<br />19,795.52
<br />20,900.48
<br />40,696.00
<br />20,900.48
<br />0.00
<br />40,696.00
<br />869,586.47
<br />08/01/23
<br />20,260.72
<br />20,435.28
<br />40,696.00
<br />20,435.28
<br />0.00
<br />40,696.00
<br />849,325.75
<br />02/01/24
<br />20,736.84
<br />19,959.16
<br />40,696.00
<br />19,959.16
<br />0.00
<br />40,696.00
<br />828,588.91
<br />08/01/24
<br />21,224.16
<br />19,471.84
<br />40,696.00
<br />19,471.84
<br />0.00
<br />40,696.00
<br />807,364.75
<br />02/01/25
<br />21,722.93
<br />18,973.07
<br />40,696.00
<br />18,973.07
<br />0.00
<br />40,696.00
<br />785,641.82
<br />08/01/25
<br />22,233.42
<br />18,462.58
<br />40,696.00
<br />18,462.58
<br />0.00
<br />40,696.00
<br />763,408.40
<br />02/01/26
<br />22,755.90
<br />17,940.10
<br />40,696.00
<br />17,940.10
<br />0.00
<br />40,696.00
<br />740,652.50
<br />08/01/26
<br />23,290.67
<br />17,405.33
<br />40,696.00
<br />17,405.33
<br />0.00
<br />40,696.00
<br />717,361.83
<br />02/01/27
<br />23,838.00
<br />16,858.00
<br />40,696.00
<br />16,858.00
<br />0.00
<br />40,696.00
<br />693,523.83
<br />08/01/27
<br />24,398.19
<br />16,297.81
<br />40,696.00
<br />16,297.81
<br />0.00
<br />40,696.00
<br />669,125.64
<br />02/01128
<br />24,971.55
<br />15,724.45
<br />40,696.00
<br />15,724.45
<br />0.00
<br />40,696.00
<br />644,154.09
<br />08/01/28
<br />25,558.38
<br />15,137.62
<br />40,696.00
<br />15,137.62
<br />0.00
<br />40,696.00
<br />618,595.71
<br />02/01/29
<br />26,159.00
<br />14,537.00
<br />40,696.00
<br />14,537.00
<br />0.00
<br />40,696.00
<br />592,436.71
<br />08/01/29
<br />26,773.74
<br />13,922.26
<br />40,696.00
<br />13,922.26
<br />0.00
<br />40,696.00
<br />565,662.97
<br />02/01/30
<br />27,402.92
<br />13,293.08
<br />40,696.00
<br />13,293.08
<br />0.00
<br />40,696.00
<br />538,260.05
<br />08/01/30
<br />28,046.89
<br />12,649.11
<br />40,696.00
<br />12,649.11
<br />0.00
<br />40,696.00
<br />510,213.16
<br />02/01/31
<br />28,705.99
<br />11,990.01
<br />40,696.00
<br />11,990.01
<br />0.00
<br />40,696.00
<br />481,507.17
<br />08/01/31
<br />29,380.58
<br />11,315.42
<br />40,696.00
<br />11,315.42
<br />0.00
<br />40,696.00
<br />452,126.59
<br />02/01/32
<br />30,071.03
<br />10,624.97
<br />40,696.00
<br />10,624.97
<br />0.00
<br />40,696.00
<br />422,055.56
<br />08/01/32
<br />30,777.69
<br />9,918.31
<br />40,696.00
<br />9,918.31
<br />0.00
<br />40,696.00
<br />391,277.87
<br />02/01/33
<br />31,500.97
<br />9,195.03
<br />40,696.00
<br />9,195.03
<br />0.00
<br />40,696.00
<br />359,776.90
<br />08/01/33
<br />32,241.24
<br />8,454.76
<br />40,696.00
<br />8,454.76
<br />0.00
<br />40,696.00
<br />327,535.66
<br />02/01/34
<br />32,998.91
<br />7,697.09
<br />40,696.00
<br />7,697.09
<br />0.00
<br />40,696.00
<br />294,536.75
<br />08/01/34
<br />33,774.39
<br />6,921.61
<br />40,696.00
<br />6,921.61
<br />0.00
<br />40,696.00
<br />260,762.36
<br />02/01/35
<br />34,568.08
<br />6,127.92
<br />40,696.00
<br />6,127.92
<br />0.00
<br />40,696.00
<br />226,194.28
<br />08/01/35
<br />35,380.43
<br />5,315.57
<br />40,696.00
<br />5,315.57
<br />0.00
<br />40,696.00
<br />190,813.85
<br />02/01/36
<br />36,211.87
<br />4,484.13
<br />40,696.00
<br />4,484.13
<br />0.00
<br />40,696.00
<br />154,601.98
<br />08/01/36
<br />37,062.85
<br />3,633.15
<br />40,696.00
<br />3,633.15
<br />0.00
<br />40,696.00
<br />117,539.13
<br />02/01/37
<br />37,933.83
<br />2,762.17
<br />40,696.00
<br />2,762.17
<br />0.00
<br />40,696.00
<br />79,605.30
<br />08/01/37
<br />38,825.28
<br />1,870.72
<br />40,696.00
<br />1,870.72
<br />0.00
<br />40,696.00
<br />40,780.02
<br />02/01/38
<br />39,737.67
<br />958.33
<br />40,696.00
<br />958.33
<br />0.00
<br />40,696.00
<br />1,042.35
<br />08/01/38
<br />1,042.35
<br />24.50
<br />1,066.85
<br />24.50
<br />0.00
<br />1,066.85
<br />0.00
<br />02/01/39
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />08/01/39
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />02/01/40
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />08/01/40
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />02/01/41
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />08/01/41
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />02/01/42
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />0.00
<br />$996,871 $769,397.85 $1,766,268.85 $618,754.94 $1,766,268.85
<br />Surplus Tax Increment 324,501.15
<br />Total Net Revenue $2,090,770.00
<br />Public Sector Advisors
<br />
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