Presentation
Summit Financing Update Presentation
April 4, 2017Pages 60–623 sections
Presentation slides providing a financial comparison between borrowing and lease payment models for the Summit project.
Total Borrowing: $61.3 MImplementation Rate: 3.6%Annual Debt Servicing: $3.9 M
Summit Financing Update
Presentation to CRHD Board Wednesday January 11, 2017
Page 60–62
Timeline
Resolution Approved CRHD
- That MFA Structured Financing strategy be approved in principle and execution of the strategy be delegated to the Chief Financial Officer.
[Chart: Line graph titled "2016 Month Ending MFA 25 Year Indicative Rates" showing interest rates fluctuating between 3.0% and 3.8% from January 2016 to January 2017. Key milestones indicated on the rising trend line: Finance Committee in September, Special Finance Committee & Board Approval in October, and Execution letter sent to MFA in November.]
Page 60–62
Comparison Summary
| Modelling Assumptions | Implementation | Variance B / (W) | |
|---|---|---|---|
| Borrowing | $61.3 M | $61.3 M | |
| Rate | 3.1% | 3.6% | (0.5%) |
| Annual Debt Servicing | $3.5 M | $3.9 M | ($0.4 M) |
| VIHA Lease Payment * | $4.1 M | $4.1 M | |
| Differential | $0.6 M | $0.2 M | ($0.4 M) |
| Total Borrowing Cost vs Lease Payments | $11.6 M | $7.1 M | ($4.5 M) |
- In addition to the VIHA $4.1M annual lease payment, there’s an additional $0.3M contribution to the capital reserve fund
Impact on Requisition
| 2017 | 2018 | 2019 | |
|---|---|---|---|
| Provisional Budget | 3.1% | 6.6% | (6.5%) |
| Estimated for Final Budget | 3.7% | 7.1% | (2.9%) |
| Variance B / (W) | (0.5%) | (0.5%) | (3.6%) |
Page 60–62
Extracted from: 2017 04 04 Council Agenda - Agenda - Pdf