NSSRA Fund Balance Allocation: $194,000
NSSRA will reserve $194,000 from its fund balance into a capital account specifically for the purchase of the new
facility.
Outside Funding: $770,000
NSSRA’s goal is to have $770,000 of the new facility costs supported from outside sources including NSSRA
Foundation, grants and donations from supporters and users of NSSRA. A capital campaign will be conducted
for approximately two years from the point at which a new facility is secured until shortly after NSSRA has moved
into the new facility.
Eric Anderson of BMO Capital Markets provided the bond issue table on page 9 which demonstrates specifically
how the $770,000 could be worked into the payment of the new facility over the next 25 years. He suggests in
2018 when the bonds are issued that support collected from outside sources ($500,000 estimated) is used toward
the purchase of the new facility. At year eight of the bond issuance the call provision is utilized at which time
support collected after the bond issue ($270,000 estimated) go toward bond payoff.
Sale of Current Building: $500,000
The current NSSRA building will be sold after acquisition of a new facility. An appraisal report on NSSRA’s
building in Northbrook was conducted by Lorenz and Associates that estimated the value of the building at
$680,000. Staff is conservatively estimating that $500,000 from the sale of the building will go toward the new
facility. Eric Anderson of BMO Capital Markets recommends that $500,000 be applied toward the purchase of
the new facility at year eight of the bond issuance at which time the call provision is utilized in the amount of
$500,000 going toward bond payoff.
Total Estimated Funding for New Facility
With interest, the total estimated funding for the new facility is $4,681,531.
Partner Agency Contribution
NSSRA Fund Balance Allocation
Outside Funding
Sale of Current Building
$3,217,531
$ 194,000
$ 770,000
$ 500,000
$4,681,531
New Facility Funding Sources FY 2014 - FY 2038
Year Partner
Contribution NSSRA Fund
Balance
Allocation Outside
Funding
FY 14
FY 15
FY 16
FY 17
FY 18
FY 19
FY 20
FY 21
FY 22
FY 23
FY 24
FY 25
FY 26
FY 27
FY 28
FY 29
FY 30
FY 31
FY 32
FY 33
FY 34
FY 35
FY 36
FY 37
FY 38
Total Funding $ 123,200
$ 123,200
$ 123,200
$ 123,200
$ 123,200
$ 182,073
$ 185,882
$ 184,482
$ 182,782
$ 185,722
$ 183,296
$ 185,566
$ 182,420
$ 154,023
$ 155,536
$ 156,730
$ 157,541
$ 153,029
$ 158,180
$ 152,602
$ 41,672
$ -
$ -
$ -
$ -
$ 3,217,531 $ -
$ -
$ -
$ -
$ 194,000
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 194,000 $ -
$ -
$ -
$ -
$ 500,000
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 270,000
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 770,000
Proceeds
from Sale of Total Funding
Building
Per Year
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 500,000
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 500,000
$ 123,200
$ 123,200
$ 123,200
$ 123,200
$ 817,200
$ 182,073
$ 185,882
$ 184,482
$ 182,782
$ 185,722
$ 183,296
$ 185,566
$ 952,420
$ 154,023
$ 155,536
$ 156,730
$ 157,541
$ 153,029
$ 158,180
$ 152,602
$ 41,672
$ -
$