Agenda - 02-16-1993 - VII-B - Laserfiche WebLink

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y 15 8.4 Cash Flow Projections 8 .4 . 1. Using the starting point of the revenue and expense records of TYHA and estimates on Pool revenue (see Appendix [15] attached) , Cash Flow Projections [CFP] for ten years have been developed which allow cumulative increases/decreases in income and costs to be evaluated. ( Appendix [1] is based on cumulative i.e year-on-year growth in income of 1. 00% and cumulative growth of costs of 4 . 00% This over cautious scenario has been chosen to emphasize the flexibilty that exists in the financial budgeting. It also assumes a 10 year borrowing of $6,700, 000 at a fixed rate of 9%. ) 8 . 4 . 2 Appendix [16] provides explanatory notes on the Rink income categories and levels in comparison with the extrapolated "full year" 1992/3 revenue generated by TYHA at the Daniel Boone location. It should be appreciated that, at present, the TYHA only operates the Daniel Boone Rink for 6 months a year and the "full year" figures are an extrapolation from the October 1992 to January 1993 actual figures. TYHA will continue to operate at Daniel Boone until the facilty is ready for occupancy and so generate additional revenue. 8.4. 3 The cost of servicing Bank lending during the construction period has been estimated as approximately $300, 000, assuming • a relatively even drawdown against the loan facilty to meet the construc- tion contract terms. TYHA will meet this from current years revenue, fund raising activities and any difference in final capital expenditure vs loan amount sought. (see 8.9 below) 8. 5 Capital costs and quotations 8. 5. 1. Land cost The land will cost $450, 000. A deposits of $250 has been paid, the balance $ 449, 750 is due by March 1993 . 8 . 5. 2 McDevitt Street Bovis will be the main contractors and a comprehensive information profile on this prestigious firm is attached (Appendix [17] ) . Their quote totals $6, 060, 417, and includes the provision of a Performance Bond. The bid is inclusive of the cost of the Rink (see details of the subcontractor below) and the Pool but it should be noted that there are possible architectural refinements to the pool area to improve acoustics that have yet to be costed. 8. 5. 3 Cimco-Lewis Refrigeration, part of Toromont Industries Ltd will supply and install the kink equipment. Cimco Model MAP- o, 1 shell and water cooled condenser,waste heat recovery unit, cold brine headers and warm brine headers, 6, 000 ft sub- floor polyethylene heating pipes, 60, 000 ft freefing floor pipes, pipe chairs, refrigerantnad brine charge, 2 Cimco "Humicon" dehumidifiers. (Appendix [18] is a brochure on Cimco-Lewis Refrigeration) 1.'