Robert Crown Center Debt Service Sale & Projections

This page is updated as projections and issuances are announced.

Capital & Debt Cost

Compared to previous projections, below Table does not include: 1) Projections for bonds earmarked for remaining $9 million RCCC authorized for Series 2019A (only $16.5M of $25.5M accounted in City’s current projection); 2) Projected $6.5 million 2018 SeriesB Capital Improvement/Facilities GO bonds as projected on 2018 Approved Budget, pg. 226. ($5.367M for Crown Construction and $1.113M for Crown Architecture & Engineering Services)
Table does include1) $1.25M 2018 Series Capital Improvement/Library GO bonds issued for RCCC Library branch prior to June 2018 new authorizations (Source: 2018 Approved Budget, pg. 226); 2) Debt service for the $1 million Sewer Bond earmarked for RCCC costs (Source: 2019 Adopted Budget); 3) $1 million 2016 Series Crown bond; 4) $.9 million 2017 Series Crown bond; Bond issuance and agent fees (Source: 2018, and 2019 Adopted Budgets and Bills List); 5) City Bond Authorization and Allocation (Source: City 2018 Bond Ordinance pgs. 15-16); 6) Other Sources: Evanston Municipal Security Data

Capital Cost $53,321,389
Fundraising Consultant Services $771,593
Architectural / Engineering $3,246,483
Construction Manager – Pre-Construction $41,510
Construction Manager – GMP Fees $47,741,803
Furniture, Fixtures, and Equipment $860,000
Utilities $150,000
Field Equipment $125,000
Abatement & Consulting $50,000
Public Art $335,000
Source: Crown Center Pro Forma
Bond Sale Proceeds $47,950,000
CIP 2016-17 Series [1] $1,900,000
RC 2018A Series [2] $25,000,000
RC 2019A Series [2] $16,500,000
RC Library 2019-20 Series [1] $2,500,000
Sewer Bond 2019-20 [3] $2,050,000
Source: [1] Crown Center Pro Forma, [2] Evanston Debt Schedule, [3] 2019 Approved Budget pgs 225, 229
Other Fund Transfers $2,149,512
from Parking Fund [1] $1,500,000
from Capital Improvement Fund [2] $649,512
Sources: [1] Crown Center Pro Forma; [2] Evanston 2018 Bond Issuance Statement 6.C Interfund Transfers
FOC Private Donations $5,000,000
Friends of Crown 2019 $5,000,000
Source: Crown Center Pro Forma
Debt Service Iss / Proj $80,896,498
CIP 2016-17 Series* $3,059,000
RC Series 2018-19A $70,511,998
RC Library Series* $4,025,000
Sewer Bond* $3,300,500
Source: Crown Center Debt Service Schedule, *Assumed at incurred interest+principal/principal of 1.61% over debt life from Series 2018A
Bond Issuance Fees $176,292
CIP 2016-17 Series Issuance Costs / Agent Fees* $6,956
RC Series 2018A Issuance Costs / Agent Fees [1] $89,277
RC Series 2019A Issuance Costs / Agent Fees* $60,409
RC Library 2017-18 Bond Issuance Costs / Agent Fees, transferred to RCCC in 2018-19 [2] [3] [4] [5] $12,145
Sewer Bond Issuance Costs / Agent Fees* $7,505
Sources: [1] Evanston 2018A Bond Fee, pg. 8, 100% of 2018A RCCC allocated; [2] Evanston 2017A Bond Payment,  [3] 10% of 2017 A library allocated; [4] Evanston 2018B Bond Fee, [5] 7% library allocated; *Assumed at incurred .366% principal rate
Robert Crown Debt Service Projections
Robert Crown Debt Service Projections
Source: City of Evanston
Click to Enlarge
City of Evanston 2018 Approved Budget
2018 GO Bond Issuance Ordinance, pg. 89
Debt Service projections are from the City of Evanston 2018A Debt Service Schedule. The City’s current projection includes repayment for 2019 to 2044 on $41 million issued ($39 of the $50 million authorized for RCCC costs, and $1.25-$1.875 of the $20 million authorized for capital improvements, including the RCCC branch library.

Below Table does not include (from other projections): 1) Projections for bonds earmarked for remaining $9 million RCCC authorized for Series 2019A (only $16.5M of $25.5M accounted in City’s current projection); 2) $1.25M 2018 Series Capital Improvement/Library GO bonds issued for RCCC Library branch prior to June 2018 new authorizations (Source: 2018 Approved Budget, pg. 226); 3) Debt service for the $1 million Sewer Bond earmarked for RCCC costs (Source: 2019 Adopted Budget); 4) $1 million 2016 Series Crown bond; 5) $.9 million 2017 Series Crown bond; 6) Projected $6.5 million 2018 SeriesB Capital Improvement/Facilities GO bonds as projected on 2018 Approved Budget, pg. 226. ($5.367M for Crown Construction and $1.113M for Crown Architecture & Engineering Services)

Below table includes1) 2018 Debt Service, from the City’s previous projection (not included on the City’s current projection – see image below)

Series 2018A RCCC GO Bonds Series 2019 Projected RCCC GO Bonds
Principal Interest Total Principal Interest Total YR TOTAL
2018 $0 $316,308 $316,308 $0 $0 $0 $316,308
2019 $0 $998,869 $998,869 $0 $0 $0 $998,869
2020 $0 $998,869 $998,869 $0 $825,000 $825,000 $1,823,869
2021 $0 $998,869 $998,869 $0 $825,000 $825,000 $1,823,869
2022 $570,000 $998,869 $1,568,869 $0 $825,000 $825,000 $2,393,869
2023 $595,000 $970,369 $1,565,369 $0 $825,000 $825,000 $2,390,369
2024 $750,000 $940,619 $1,690,619 $0 $825,000 $825,000 $2,515,619
2025 $785,000 $903,119 $1,688,119 $500,132 $825,000 $1,325,132 $3,013,251
2026 $825,000 $863,869 $1,688,869 $526,226 $799,993 $1,326,219 $3,015,088
2027 $865,000 $822,619 $1,687,619 $552,319 $773,682 $1,326,001 $3,013,620
2028 $910,000 $779,369 $1,689,369 $578,413 $746,066 $1,324,479 $3,013,848
2029 $955,000 $733,869 $1,688,869 $604,507 $717,145 $1,321,652 $3,010,521
2030 $1,005,000 $686,119 $1,691,119 $634,950 $686,920 $1,321,870 $3,012,989
2031 $1,055,000 $635,869 $1,690,869 $669,742 $655,173 $1,324,915 $3,015,784
2032 $1,105,000 $583,119 $1,688,119 $700,185 $621,686 $1,321,871 $3,009,990
2033 $1,140,000 $548,588 $1,688,588 $739,325 $586,676 $1,326,001 $3,014,589
2034 $1,175,000 $511,538 $1,686,538 $774,117 $549,710 $1,323,827 $3,010,365
2035 $1,215,000 $471,881 $1,686,881 $813,258 $511,004 $1,324,262 $3,011,143
2036 $1,260,000 $430,875 $1,690,875 $852,399 $470,341 $1,322,740 $3,013,615
2037 $1,300,000 $386,775 $1,686,775 $895,888 $427,721 $1,323,609 $3,010,384
2038 $1,350,000 $341,275 $1,691,275 $939,378 $382,927 $1,322,305 $3,013,580
2039 $1,395,000 $294,025 $1,689,025 $987,217 $335,958 $1,323,175 $3,012,200
2040 $1,445,000 $245,200 $1,690,200 $1,039,404 $286,597 $1,326,001 $3,016,201
2041 $1,500,000 $187,400 $1,687,400 $1,087,243 $234,627 $1,321,870 $3,009,270
2042 $1,560,000 $127,400 $1,687,400 $1,143,780 $180,265 $1,324,045 $3,011,445
2043 $1,625,000 $65,000 $1,690,000 $1,200,316 $123,076 $1,323,392 $3,013,392
2044 $0 $0 $0 $1,261,202 $63,060 $1,324,262 $1,324,262
TOT $24,385,000 $15,840,681 $40,225,681 $16,500,001 $14,102,627 $30,602,628 $70,828,309
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