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<br />CiJ <br /> <br />G <br /> <br />g,)'Q ~ r?\,l <br /> <br />Assumptions Used for AnalysesN~ '>.? ~ f/ <br />and General Comments ~O\}> \ 0 \, ~ <br /> <br />Westbound 2004 <br /> <br />1. Construction estimated at $1,927,500 for 10,000 square feet. Construction Management <br />fees are not included. A five percent contingency is included. <br /> <br />2. <br /> <br />Revenue Bond of $1,100,000 assumed with balanced financed by with cash in Liquor Fund. <br /> <br />Westbound sales and operating expense estimates based on original amounts in Dakota <br />Study which were updated and revised by Dave Potvin in August, 2004 and September 8, <br />2004. (This includes the estimated profit decrease at Northbound.) <br /> <br />Northbound revenue bond may be prepaid "only in the event that the City Council shall have <br />reasonably determined that such redemption is necessary in order to a~low the Ci~ to J <br />construct or finance a second municipal liquor store." ~(W~,.;tJ ~~ <br /> <br />5. <br /> <br />Cash flow needs have been increased to ensure that adequate cash is available to fund <br />ongoing operating needs plus leave a reserve available for unforseen expenses. <br /> <br />6. <br /> <br />New revenue bond was estimated at a six percent interest rate. This may vary substantially <br />depending upon the market at the time of issuance and whether this is purchased locally or <br />on the open market. <br /> <br />7. <br /> <br />Sales estimates to not take into account changes in liquor laws or the addition of private <br />stores to the market. <br /> <br />~ <br />'\ ~~\ <br />~ \\ <br /> <br />Prepared September 8, 2004 <br />Updated September 9, 2004 <br /> <br />9/10/2004 <br />Finance <br />