3.3 SEDIC Request - Philips LightingCITY OF SALINA
REQUEST FOR CITY COMMISSION ACTION DATE TIME
1/26/2011 4:00 P.M.
AGENDA SECTION ORIGINATING DEPARTMENT: APPROVED FOR
NO: 3 AGENDA:
CITY MANAGER’S OFFICE
ITEM
NO. 3
BY:
BY: Jason A. Gage, City Manager
Page 1
ITEM:
Consider an incentive request from Philips Light ing Company to fund the purchase of capital
equipment and related facility modifications for a project that will provide a minimum of fifty (50) new
primary jobs.
BACKGROUND:
Philips Lighting Company manufactures fluorescent lighting and is one of Salina’s largest employers.
Philips is looking at a potential new project (known as Project Joy) for their Salina facility. This project
would add up to an additional fifty (50) production jobs locally. In addition, Philips is projecting to
spend up to $5 million in capital equipment investment. This is potentially very good news for Salina
during a difficult economic time.
The wage level for this project will be approximately $22.60 per hour, plus benefits. This rate is
significantly above the Saline County average wage for these positions. The total estimated payroll
for these jobs is around $2.35 million.
Philips has requested $750,000 in SEDIC economic development grant funds to position them for
approval from company headquarters for this competitive project. The payment of the grant would be
proportionately over three years. The project would be a positive step forward toward the additional
growth and development of the Philips Lighting Company in Salina. The grant will incentivize the
addition of employment and help leverage equipment and facility renovation costs necessary to
expand their operations and sustain the projected employment.
st
A decision regarding the provision of grant funding must be provided to Philips by January 31 in
order for the Salina facility to be considered for the project. It is important to note that no funding will
be obligated if Philips is not awarded this project. The commitment of these dollars at this time
reinforces our community’s support for Philips and can help position Salina as a positive location for
future investment as we very slowly exit a major recessionary economic period.
FISCAL NOTE:
If authorized, this request will be funded from the SEDIC economic development allocation of the
City’s sales tax. An unencumbered balance of approximately $921,486 is currently available from this
fund (sales tax cash flow report attached).
CONFORMANCE WITH STRATEGIC PLAN
GOAL #3:
Philips Lighting is a global, stable, very efficiently run company, with an extremely successful track
record in Salina. Staff believes that the growth of healthy, local industries such as Philips Lighting will
certainly foster this goal.
CITY OF SALINA
REQUEST FOR CITY COMMISSION ACTION DATE TIME
1/26/2011 4:00 P.M.
AGENDA SECTION ORIGINATING DEPARTMENT: APPROVED FOR
NO: 3 AGENDA:
CITY MANAGER’S OFFICE
ITEM
NO. 3
BY:
BY: Jason A. Gage, City Manager
Page 2
ALTERNATIVES AND RECOMMENDED ACTION:
Due to the nature of this request, certain company trade secrets that relate to the proposed projects
cannot be publicly disclosed. If during the public discussion the City Commission has questions
about project aspects or the company that would be considered trade secrets, you can choose to
recess into executive session in order to make such inquiries of the applicant and/or discuss this
information with staff and legal counsel.
Alternative #1: Recommend to the City Commission approval of the attached Philips Lighting grant
agreement in an amount not to exceed $750,000 for Project Joy, which commits
funding to incentivize the addition of employment and assist them in leveraging
equipment and facility renovations necessary to expand their operations and sustain
the projected employment for Project Joy.
Alternative #2: Recommend to the City Commission denial of the attached Philips Lighting grant
agreement for Project Joy.
Due to the escalation in timing of the potent ial project, a special SEDIC meeting could not be
scheduled for a formal project recommendation, though the members of the committee are aware of
this project concept. Staff believes this request clearly meets the intent of Resolution #09-6608
(attached), which provides for the funding of capital expenditures in property, plant and equipment to
stimulate job growth for primary businesses. As a result, Staff also recommends Alternative #1.
Attachment: Grant Agreement
Resolution No.09-6608
Economic Development Sales Tax Cash Flow Report
City of Salina
Economic Development Grant Offer and Agreement
Offer
This agreement entered into on the 26th day of January, 2011 is made by and between the
City of Salina, Kansas, 300 West Ash Street, Salina, KS, herein called the “City”, and
Philips Lighting Company, whose address is 3861 S. Ninth, Salina, Kansas, herein called
the “Grantee.”
WHEREAS, Grantee recently submitted a request for economic development incentive
funding from the City for the purpose of increasing employment and leveraging capital
equipment and facility modifications for Project Joy; and
WHEREAS, this project is proposed to result in stimulated economic activity in the
community through the addition of up to fifty (50) full-time jobs generating an estimated
$2.35 million in annual payroll (significantly exceeding the Saline County average for
similar positions) and up to $5 million in capital investment; and
WHEREAS, the City’s Salina Economic Development Incentives Council (SEDIC) has
reviewed the Grantee’s initial request for the granting of a total not to exceed $750,000 in
City economic development sales tax funds for Grantee’s project; and
WHEREAS, on January 26, 2011, the Salina City Commission approved the expenditure
of up to $750,000 as an economic development grant for Grantee’s project, consisting of
the following:
Project Joy: This project will add up to fifty (50) additional manufacturing
positions with annualized average wage levels of $47,000 ($22.60 per hour) and
up to $5 million in directly related equipment and facility renovation investment.
Project completion is desired by July 31, 2012, but not formally required until
January 31, 2014. Completion of the project is reliant upon attaining the specified
employment targets presented herein.
NOW THEREFORE, pursuant to City of Salina appropriations authority and in
consideration of the Grantee’s acceptance of this offer, and the benefits to accrue to the
City of Salina and the public from the accomplishment of the project and compliance
with the assurances and conditions as herein provided, the City of Salina hereby offers
and agrees to pay a total not to exceed $750,000 as the City’s share of allowable costs
incurred in accomplishing these specific projects.
This offer is made on and subject to the following terms and conditions:
Conditions
1.The maximum obligation of the City of Salina under this offer shall be $750,000
specifically for Project Joy and the Grantee’s development project shall be reviewed
for compliance prior to disbursement of funds.
2.The Grantee shall demonstrate to City compliance with project performance targets.
3.Payment of the City’s share of the allowable grant disbursement for attainment of
specified job creation as referred to in this Agreement shall be subject to the
following:
a.Grant payment shall be made proportionately over a timeframe of thirty-
six (36) months.
b.Grant payment shall be made pursuant to provision of a written request for
grant disbursement and an affidavit from Grantee certifying: the quantity
of jobs created for Project Joy since January 4, 2011, that all jobs counted
meet the wage targets contained herein and that prior year Project Joy jobs
(applicable in grant years 2 and 3) have been retained and continue to
meet wage targets. Retention of prior year’s proportionate job targets is
required in order to be eligible for disbursement of grant funds for job
created in subsequent years of the project.
c.Grantee may request multiple drawdowns of grant funds.
d.Project job target attainment shall at all times equal or exceed that
proportionate drawdown of grant funding to be provided by Grantor.
e.The city manager shall be authorized to apply reasonable discretion with
regard to acceptance or rejection of a Grantee request for grant funding.
4.In addition to and for informational purposes only, Grantee shall report to Salina Area
Chamber of Commerce progress related to the purchase, receipt, installation and
readiness for use of the requested equipment, and completion of related facility
modifications as referred to herein.
5.Grantee shall use every reasonable effort to meet the job creation estimate of fifty
(50) new jobs and all equipment and building related investment within eighteen (18)
months from the execution date of the Agreement.
6.The official contact for the City is:
Lieu Ann Elsey
City Clerk
300 West Ash, P.O. Box 736
Salina, KS 67401
785-309-5735 (O)
785-309-5738 (F)
LieuAnn.Elsey@Salina.org
7.The official contact for the Grantee is:
Dan Mendicina
Salina Plant Director
Philips Lighting Center
3861 S. Ninth St.
Salina, KS
Phone (785)-822-1517
dan.mendicina@philips.com
The Grantee’s acceptance of this offer, ratification and adoption of the project memo
incorporated herein shall be evidenced by execution of this agreement by the Grantee,
and the offer and agreement shall comprise a Grant Agreement. Such Grant Agreement
shall become effective upon the Grantee’s acceptance of the offer.
City of Salina Attest:
__________________________ ______________________
Jason Gage Lieu Ann Elsey
City Manager City Clerk
Acceptance
The Grantee does hereby ratify and adopt all assurances, statements, representations,
warranties, covenants and agreements contained in the project information memo and
incorporated materials referred to in the foregoing offer and does hereby accept the offer,
by such acceptance, agrees to comply with all of the terms and conditions in the Offer
and in the project application letter.
Evidenced this ___________ day of January, 2011
Philips Lighting Company of Salina
By _____________________________
Grantee’s Designated O fficial Representative
Title
Attest: __________________________
Title: ___________________________
CITY OF SALINA
SPECIAL 1/4 CENT SALES TAX CASH FLOW DETAIL
Commitment or
Encumbrance
ReceiptsExpenditure BalanceComment
9/24/200415,487.57$ 15,487.57$ Sales Tax Distribution
9/30/20042.47$ 15,490.04$ Interest Allocation
10/28/200423,961.92$ 39,451.96$ Sales Tax Distribution
10/31/200430.77$ 39,482.73$ Interest Allocation
11/29/200425,183.70$ 64,666.43$ Sales Tax Distribution
11/30/200487.59$ 64,754.02$ Interest Allocation
12/7/2004(10,772.19)$ 53,981.83$ Sales Tax Distribution
12/22/200422,489.67$ 76,471.50$ Sales Tax Distribution
12/31/2004225.98$ 76,697.48$ Interest Allocation
1/31/200524,098.65$ 100,796.13$ Sales Tax Distribution
1/31/2005187.40$ 100,983.53$ Interest Allocation
2/28/200526,839.81$ 127,823.34$ Sales Tax Distribution
2/28/200550.75$ 127,874.09$ Interest Allocation
3/31/200522,092.24$ 149,966.33$ Sales Tax Distribution
3/31/2005111.97$ 150,078.30$ Interest Allocation
4/28/200521,564.60$ 171,642.90$ Sales Tax Distribution
4/30/2005142.59$ 171,785.49$ Interest Allocation
5/27/200523,913.56$ 195,699.05$ Sales Tax Distribution
5/31/2005416.53$ 196,115.58$ Interest Allocation
$ 186,115.58
6/16/200510,000.00$ Salina Downtown Façade Program
$ 126,115.58
6/16/200520,000.00$ 40,000.00$ North Central RPC 3 year program
6/28/200522,076.99$ 148,192.57$ Sales Tax Distribution
6/30/2005174.69$ 148,367.26$ Interest Allocation
7/27/200523,315.15$ 171,682.41$ Sales Tax Distribution
7/31/2005242.75$ 171,925.16$ Interest Allocation
8/29/200525,236.53$ 197,161.69$ Sales Tax Distribution
8/31/2005288.47$ 197,450.16$ Interest Allocation
9/28/200523,396.01$ 220,846.17$ Sales Tax Distribution
9/30/2005180.77$ 221,026.94$ Interest Allocation
10/27/200524,734.47$ 245,761.41$ Sales Tax Distribution
10/31/2005293.49$ 246,054.90$ Interest Allocation
11/30/2005734.98$ 246,789.88$ Interest Allocation
12/1/200524,260.81$ 271,050.69$ Sales Tax Distribution
12/27/200523,519.43$ 294,570.12$ Sales Tax Distribution
12/31/2005616.03$ 295,186.15$ Interest Allocation
1/31/200625,005.65$ 320,191.80$ Sales Tax Distribution
1/31/20061,123.26$ 321,315.06$ Interest Allocation
2/27/200627,991.50$ 349,306.56$ Sales Tax Distribution
2/28/2006490.98$ 349,797.54$ Interest Allocation
$ 299,797.54
3/6/200650,000.00$ Kansas Army National Guard
3/30/200622,110.37$ 321,907.91$ Sales Tax Distribution
3/31/2006978.63$ 322,886.54$ Interest Allocation
4/28/200622,544.02$ 345,430.56$ Sales Tax Distribution
4/30/20061,212.58$ 346,643.14$ Interest Allocation
5/31/200625,767.51$ 372,410.65$ Sales Tax Distribution
5/31/20061,586.69$ 373,997.34$ Interest Allocation
6/30/200624,729.35$ 398,726.69$ Sales Tax Distribution
6/30/2006759.06$ 399,485.75$ Interest Allocation
$ 399,485.75
7/26/200620,000.00$ (20,000.00)$ North Central RPC 3 year program
7/28/200624,669.37$ 424,155.12$ Sales Tax Distribution
7/31/20061,749.45$ 425,904.57$ Interest Allocation
$ 413,904.57
8/2/200612,000.00$ Salina Downtown Façade Program
8/31/20061,749.37$ 415,653.94$ Interest Allocation
9/5/200629,657.15$ 445,311.09$ Sales Tax Distribution
9/28/200623,832.53$ 469,143.62$ Sales Tax Distribution
9/30/20063,005.14$ 472,148.76$ Interest Allocation
10/31/20063,226.75$ 475,375.51$ Interest Allocation
11/2/200626,568.73$ 501,944.24$ Sales Tax Distribution
11/30/200624,704.54$ 526,648.78$ Sales Tax Distribution
11/30/20065,390.16$ 532,038.94$ Interest Allocation
$ 455,867.23
12/3/200676,171.71$ Raytheon Development Project
$ 402,038.94
12/13/200653,828.29$ Raytheon Development Project
12/28/200624,567.26$ 426,606.20$ Sales Tax Distribution
12/31/20066,423.04$ 433,029.24$ Interest Allocation
1/30/200724,665.79$ 457,695.03$ Sales Tax Distribution
1/31/20073,073.42$ 460,768.45$ Interest Allocation
2/28/20072,741.00$ 463,509.45$ Interest Allocation
3/2/200731,112.33$ 494,621.78$ Sales Tax Distribution
3/29/200721,851.50$ 516,473.28$ Sales Tax Distribution
3/31/20072,212.32$ 518,685.60$ Interest Allocation
4/30/200723,184.03$ 541,869.63$ Sales Tax Distribution
4/30/20072,244.28$ 544,113.91$ Interest Allocation
5/30/200727,796.70$ 571,910.61$ Sales Tax Distribution
5/31/20072,472.52$ 574,383.13$ Interest Allocation
6/30/20072,442.48$ 576,825.61$ Interest Allocation
7/6/200724,940.17$ 601,765.78$ Sales Tax Distribution
$ 586,765.7815,000.00$
7/18/2007 Salina Downtown Façade Program
City of Salina - Special 1/4 Cent Sales Tax Cash Flow Detail
CITY OF SALINA
SPECIAL 1/4 CENT SALES TAX CASH FLOW DETAIL
7/31/20073,335.58$ 590,101.36$ Interest Allocation
8/6/200725,951.39$ 616,052.75$ Sales Tax Distribution
$ 592,052.7524,000.00$
8/6/2007 Premier Pneumatics
$ (20,000.00)20,000.00$ 592,052.75$
8/15/2007 North Central RPC 3 year program
$ Sales Tax Distribution618,481.58
8/30/200726,428.83$
8/31/2007618,481.58$ Interest Allocation
$ 668,481.58
8/31/2007(50,000.00)$ Kansas Army National GuardWithdrawn
8/31/20074,839.93$ 673,321.51$ Interest Allocation
$ 620,801.51
9/24/200752,520.00$ Hawker Beechcraft
9/30/20072,727.87$ 623,529.38$ Interest Allocation
10/2/200726,030.30$ 649,559.68$ Sales Tax Distribution
10/31/200729,210.05$ 678,769.73$ Sales Tax Distribution
10/31/20072,161.36$ 680,931.09$ Interest Allocation
11/30/200723,282.55$ 704,213.64$ Sales Tax Distribution
11/30/20072,719.40$ 706,933.04$ Interest Allocation
12/31/200726,013.21$ 732,946.25$ Sales Tax Distribution
12/31/20074,740.95$ 737,687.20$ Interest Allocation
$ 687,687.20
1/1/200850,000.00$ Salina Downtown Façade Program
$ 642,687.20
1/28/200845,000.00$ Entreprenuership Program
1/31/20082,537.03$ 645,224.23$ Interest Allocation
2/1/200826,978.35$ 672,202.58$ Sales Tax Distribution
$ 623,002.58
2/25/200849,200.00$ CAV Aerospace
2/27/200830,615.89$ 653,618.47$ Sales Tax Distribution
2/27/200845,000.00$ (45,000.00)$ 653,618.47$
Entreprenuership Program
2/29/20082,492.80$ 656,111.27$ Interest Allocation
3/31/200826,161.69$ 682,272.96$ Sales Tax Distribution
3/31/20083,832.04$ 686,105.00$ Interest Allocation
4/25/2008100,000.00$ 586,105.00$
K-State Salina
4/30/200822,281.88$ 608,386.88$ Sales Tax Distribution
4/30/20081,158.73$ 609,545.61$ Interest Allocation
5/21/200821,000.00$ 588,545.61$ Thunderstruck, Inc.
5/31/2008629.12$ 589,174.73$ Interest Allocation
5/31/2008589,174.73$ Sales Tax Distribution
$ 589,174.73
6/21/200850,000.00$ (50,000.00)$ Salina Downtown Façade Program
6/30/2008857.21$ 590,031.94$ Interest Allocation
7/1/200827,766.55$ 617,798.49$ Sales Tax Distribution
7/1/200824,981.03$ 642,779.52$ Sales Tax Distribution
7/31/20081,118.88$ 643,898.40$ Interest Allocation
8/5/200827,578.21$ 671,476.61$ Sales Tax Distribution
8/29/200829,188.36$ 700,664.97$ Sales Tax Distribution
$ 700,664.97
8/29/200852,520.00$ (52,520.00)$ Hawker Beechcraft
8/31/20082,296.88$ 702,961.85$ Interest Allocation
$ Sales Tax Distribution729,434.79
9/29/200826,472.94$
$ Interest Allocation730,084.25
9/30/2008649.46$
$ 730,084.25
10/24/200817,868.65$ (17,868.65)$ K-State Salina
$ Interest Allocation730,336.04
10/31/2008251.79$
$ Sales Tax Distribution758,337.00
11/5/200828,000.96$
$ 758,337.00
11/19/200824,000.00$ (24,000.00)$ Premier Pneumatics
$ Interest Allocation760,195.85
11/30/20081,858.85$
$ Sales Tax Distribution786,925.32
12/1/200826,729.47$
$ Sales Tax Distribution813,761.35
12/29/200826,836.03$
$ 813,761.35
1/15/20095,483.08$ (5,483.08)$ K-State Salina
1/29/200930,634.53$ 844,395.88$ Sales Tax Distribution
1/31/2009404.81$ 844,800.69$ Interest Allocation
$ 804,800.69
2/1/200940,000.00$ SDI Inc.
2/26/200926,130.22$ 830,930.91$ Sales Tax Distribution
2/28/2009871.61$ 831,802.52$ Interest Allocation
3/30/200927,862.35$ 859,664.87$ Sales Tax Distribution
3/31/200945.51$ 859,710.38$ Interest Allocation
4/30/200922,080.48$ 881,790.86$ Sales Tax Distribution
4/30/200932.59$ 881,823.45$ Interest Allocation
5/19/2009744.86$ (744.86)$ 881,823.45$
K-State Salina
5/19/200923,252.52$ (23,252.52)$ 881,823.45$
K-State Salina
5/30/2009328.84$ 882,152.29$ Interest Allocation
6/5/200925,896.52$ 908,048.81$ Sales Tax Distribution
6/22/2009229.00$ (229.00)$ 908,048.81$
K-State Salina
6/24/200950,000.00$
$ Salina Downtown Façade Program858,048.81
6/29/200925,765.90$ 883,814.71$ Sales Tax Distribution
6/30/200928.30$ 883,843.01$ Interest Allocation
7/8/2009(480.84)$ 883,362.17$ Lambertz TIF Credit
7/31/200928,000.86$ 911,363.03$ Sales Tax Distribution
7/31/20091,817.87$ 913,180.90$ Interest Allocation
8/1/2009(289.63)$ 912,891.27$ Lambertz TIF Credit
8/25/200911,763.48$ (11,763.48)$ 912,891.27$
K-State Salina
8/26/2009(287.52)$ 912,603.75$ Lambertz TIF Credit
8/28/200924,245.68$ 936,849.43$ Sales Tax Distribution
8/31/20091,950.32$ 938,799.75$ Interest Allocation
9/10/200914,473.39$ (14,473.39)$ 938,799.75$
K-State Salina
9/22/2009(304.02)$ 938,495.73$ Lambertz TIF Credit
9/22/200925,275.02$ 963,770.75$ Sales Tax Distribution
City of Salina - Special 1/4 Cent Sales Tax Cash Flow Detail
CITY OF SALINA
SPECIAL 1/4 CENT SALES TAX CASH FLOW DETAIL
9/30/20092,042.66$ 965,813.41$ Interest Allocation
10/1/200925,275.02$ 991,088.43$ Sales Tax Distribution
10/30/20097,390.48$ (7,390.48)$ 991,088.43$
K-State Salina
10/30/200925,694.22$ 1,016,782.65$ Sales Tax Distribution
10/30/200968.16$ 1,016,850.81$ Interest Allocation
11/24/2009(239.64)$ 1,016,611.17$ Lambertz TIF Credit
11/24/2009(270.91)$ 1,016,340.26$ Lambertz TIF Credit
11/30/20096,160.76$ 1,022,501.02$ Interest Allocation
12/4/200910,737.24$ (10,737.14)$ 1,022,500.92$
K-State Salina
12/29/200927,570.56$ 1,050,071.48$ Sales Tax Distribution
12/31/20094,847.03$ 1,054,918.51$ Interest Allocation
12/31/2009160.52$ 1,055,079.03$ Interest Allocation
1/28/2010(950.37)$ 1,054,128.66$ Lambertz TIF Credit
1/29/201024,249.57$ 1,078,378.23$ Sales Tax Distribution
1/31/20101,540.57$ 1,079,918.80$ Interest Allocation
2/1/20108,057.30$ (8,057.30)$ 1,079,918.80$
K-State Salina
2/26/201027,096.11$ 1,107,014.91$ Sales Tax Distribution
2/28/201073.20$ 1,107,088.11$ Interest Allocation
3/24/201040,000.00$ 1,067,088.11$
SDI Inc.
3/24/201050,000.00$ 1,017,088.11$
Salina Downtown Façade Program
3/31/201026,799.87$ 1,043,887.98$ Sales Tax Distribution
3/31/201080.73$ 1,043,968.71$ Interest Allocation
4/13/2010(790.68)$ 1,043,178.03$ Lambertz TIF Credit
4/19/2010200,000.00$ 843,178.03$ K-State Salina II
4/29/201021,237.40$ 864,415.43$ Sales Tax Distribution
4/30/201072.14$ 864,487.57$ Interest Allocation
5/28/201026,465.21$ 890,952.78$ Sales Tax Distribution
5/31/2010305.20$ 891,257.98$ Interest Allocation
6/30/2010284.16$ 891,542.14$ Interest Allocation
7/2/201024,942.77$ 916,484.91$ Sales Tax Distribution
7/30/201023,471.59$ 939,956.50$ Sales Tax Distribution
6/21/2010150,000.00$ 789,956.50$
Philips Lighting
10/1/2010111,011.84$ (111,011.84)$ 789,956.50$
K-State Salina II
10/1/20102,546.63$ (2,546.63)$ 789,956.50$
K-State Salina II
10/24/201011,411.96$ (11,411.96)$ 789,956.50$
K-State Salina II
9/1/201029,042.24$ 818,998.74$ Sales Tax Distribution
10/1/201026,928.87$ 845,927.61$ Sales Tax Distribution
10/28/201025,527.89$ 871,455.50$ Sales Tax Distribution
11/29/201023,932.18$ 895,387.68$ Sales Tax Distribution
11/29/2010(1,494.67)$ 893,893.01$ Lambertz TIF Credit
12/30/201024,302.56$ 918,195.57$ Sales Tax Distribution
7/31/2010215.26$ 918,410.83$ Interest Allocation
8/31/2010571.73$ 918,982.56$ Interest Allocation
9/30/201047.69$ 919,030.25$ Interest Allocation
10/30/2010976.89$ 920,007.14$ Interest Allocation
11/30/20101,438.62$ 921,445.76$ Interest Allocation
12/31/201040.13$ 921,485.89$ Interest Allocation
12/1/201011,411.96$ (11,411.96)$ 921,485.89$ K-State Salina II
12/8/2010150,000.00$ (150,000.00)$ 921,485.89$ Philips Lighting
12/15/20104,455.08$ (4,455.08)$ 921,485.89$ K-State Salina II
$ 921,485.89
$ 921,485.89
$ 921,485.89
Totals To date2,020,205.99$ 990,357.47$ 108,362.63$ 921,485.89$
Revenues
$ Sales Tax Distribution1,916,032.73
$ Lambertz TIF Credit(5,108.28)
$ Interest Allocation109,281.54
$ Total2,020,205.99
Expenses and Commitments
$ -187,000.00$ 187,000.00$
Salina Downtown Façade Program
$ -80,000.00$ 80,000.00$
SDI Inc.
$ -60,000.00$ 60,000.00$
North Central RPC 3 year program
$ -130,000.00$ 130,000.00$
Raytheon Development Project
$ -52,520.00$ 52,520.00$
Hawker Beechcraft
$ -21,000.00$ 21,000.00$
Thunderstruck, Inc.
$ -24,000.00$ 24,000.00$
Premier Pneumatics
$ -45,000.00$ 45,000.00$
Entreprenuership Program
$ 49,200.00-$ 49,200.00$
CAV Aerospace
$ 0.10100,000.00$ 100,000.10$
K-State Salina
$ 59,162.53140,837.47$ 200,000.00$
K-State Salina II
$ -150,000.00$ 150,000.00$
Philips Lighting
$ --$ -$
Kansas Army National Guard
$ 108,362.63990,357.47$ 1,098,720.10$
Total
City of Salina - Special 1/4 Cent Sales Tax Cash Flow Detail