IF
Buckeye takes out a COPS loan of $23 million, for 20 years.
THEN:
COPS INTEREST DEBT SERVICE COSTS: Donnelly is saying he has estimated the annual pmt to be about $1.8 million/yr over the course of the 20 yr term than this comes out to an avg interest rate of 4.7%/yr. A quick and general estimated calc done at www.calculator.net give the breakdown on pic attached.
That means we can expect total interest payments over the course of the 20 yr term to be at least $10 - $12 million. Making the true cost of this loan $35 million.
POTENTIAL OFCC FUTURE 19% REIMBURSEMENT: We won't know for sure until we can see any documents from OFCC. But New OFCC ELPP Buckeye Master Facility Plan Total Expenditures Budget maybe $59 million. I base this on $40 million for new HS + $5 million ??? for JH updates + $14 million elementary credit (from 2004) for a total of $59 million. Then 19% of that gives us the OFCC future reimbursement of about $11 million in today's dollars at some future, unknown time.
Therefore the non-guaranteed future 19% I estimate at $11 million APPEARS to just barely reimburse us for the interest cost burden of the COPS loan. They don't concern themselves with the risks and other financial implications in the future and/or they just hoping everything works out.
Buckeye takes out a COPS loan of $23 million, for 20 years.
THEN:
COPS INTEREST DEBT SERVICE COSTS: Donnelly is saying he has estimated the annual pmt to be about $1.8 million/yr over the course of the 20 yr term than this comes out to an avg interest rate of 4.7%/yr. A quick and general estimated calc done at www.calculator.net give the breakdown on pic attached.
That means we can expect total interest payments over the course of the 20 yr term to be at least $10 - $12 million. Making the true cost of this loan $35 million.
POTENTIAL OFCC FUTURE 19% REIMBURSEMENT: We won't know for sure until we can see any documents from OFCC. But New OFCC ELPP Buckeye Master Facility Plan Total Expenditures Budget maybe $59 million. I base this on $40 million for new HS + $5 million ??? for JH updates + $14 million elementary credit (from 2004) for a total of $59 million. Then 19% of that gives us the OFCC future reimbursement of about $11 million in today's dollars at some future, unknown time.
Therefore the non-guaranteed future 19% I estimate at $11 million APPEARS to just barely reimburse us for the interest cost burden of the COPS loan. They don't concern themselves with the risks and other financial implications in the future and/or they just hoping everything works out.
