Financial Submission Workbook Summary

This document is a financial submission template workbook for the City of Tampa's redevelopment of the Royal Street Parking Lot and Army/Navy Store site in Florida's Downtown Community Redevelopment Area. The workbook provides standardized spreadsheet templates for applicants to submit comprehensive financial proposals for a mixed-use development project. The file includes four primary financial modules: a Development Program Summary capturing residential units by affordability level (up to 80% AMI, up to 140% AMI, and market-rate), commercial/retail/parking space quantities, and overall square footage; a Development Cost Pro Forma detailing all acquisition, hard costs, soft costs, and financing costs across different use types; a Stabilized Operating Pro Forma projecting annual revenues and expenses at stabilization; and a 15-Year Operating Pro Forma tracking lease years from December 2029 through December 2043 with revenue projections, operating expenses, debt service calculations, and equity cash flow distributions. The template is designed to accommodate multiple property uses including rental housing at various affordability levels, homeownership units, commercial space, retail space, open space, and parking facilities.

The workbook employs a standardized format with all financial entries currently showing zero values, indicating this is a blank template for respondents to populate with their proposed project financials. Key cost categories tracked include land acquisition, construction, site work, public realm improvements, tenant improvements, hard cost escalation and contingency, architectural and engineering fees, administrative costs, permits, environmental assessments, legal fees, insurance, relocation costs, and various financing fees including construction interest and debt placement costs. Revenue sources captured include construction financing, developer equity, Low-Income Housing Tax Credit (LIHTC) equity at both 4% and 9% rates, state tax credit equity, permanent financing, and condo sales revenue. The stabilized operating pro forma calculates debt service coverage ratios and distributes equity cash flows among developers, investors, and other parties. All financial projections are presented in 2025 dollars, with the 15-year pro forma incorporating variable revenue escalation rates and comprehensive expense tracking for maintenance, real estate taxes, insurance, utilities, management fees, and administrative expenses to determine net operating income and cash flow available to equity holders.