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CITY OF SOUTH BEND, INDIANA
<br />Department of Community & Economic Development
<br />Review of TIF Need for South Side #3 (Erskine Village)
<br />June 2011
<br />Balance
<br />Cash on hand:
<br />4,079,061
<br />Anticipated tax distribution - June 2011
<br />1,285,385
<br />5,364,446
<br />Debt service payment Erskine Village Bond - August 2011
<br />(155,540)
<br />5,208,906
<br />Anticipated tax distribution - December 2011
<br />1,285,385
<br />6,494,292
<br />Debt service payment Erskine Village Bond - February 2012
<br />(340,540)
<br />6,153,752
<br />Debt service payment Erskine Village Bond - August 2012
<br />(149,898)
<br />6,003,854
<br />Debt service payment Erskine Village Bond - February 2013
<br />(344,898)
<br />5,658,957
<br />Debt service payment Erskine Village Bond - August 2013
<br />(143,950)
<br />5,515,007
<br />Debt service payment Erskine Village Bond - February 2014
<br />(353,950)
<br />5,161,057
<br />Debt service payment Erskine Village Bond - August 2014
<br />(137,545)
<br />5,023,512
<br />Debt service payment Erskine Village Bond - February 2015
<br />(357,545)
<br />4,665,967
<br />Debt service payment Erskine Village Bond - August 2015
<br />(130,835)
<br />4,535,132
<br />Debt service payment Erskine Village Bond - February 2016
<br />(365,835)
<br />4,169,297
<br />Debt service payment Erskine Village Bond - August 2016
<br />(123,668)
<br />4,045,629
<br />Debt service payment Erskine Village Bond - February 2017
<br />(373,668)
<br />3,671,962
<br />Final Payoff of Remaining Bonds w/ 1 % premium - February 2017
<br />(3,585,500)
<br />86,462
<br />(Outstanding principal = $3,550,000 + $35,500 premium)
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