|
|
Revenue Stream Projections Overdue
(posted June 12)
The Speedway Redevelopment Commission's proposed lease rental agreement
cost components of the $62,755,000 bond are as follows:
Construction $47,308,782
Debt Service Reserve $5,608,500
Construction Interest $8,053,558
Bond Insurance $891,610
Underwriting Fees $892,550
The redevelopment commission has not furnished a revenue stream projection
as requested by the Speedway Navigator. Executive Director Scott Harris
acknowledged the request, saying the current document contained privilege
information and "we will provide a document for public distribution"
by June 10.
Questions have been raised about how the redevelopment commission can pay
for the bond when no revenue stream is available.
|
|