Bethlehem Parking Authority · 47) DEBT SERVICE COVERAGE RATIO 2.01x 2.19x 2.03x 1.46x 1.44x 1.33x 1.29x 1.30x 1.28x 1.26x 1.25x 1.22x 1.41x 1.59x 1.62x 1.62x RemainingPro ‐ FormaAssumptions

PFM Financial Advisors LLCPublic Financial Management, Inc.

213 Market StreetHarrisburg, PA 17101

717.232.2723 (P) 717.232.8610 (F)

www.pfm.com

Bethlehem Parking Authority

July 2, 2019

Presented by:

Scott ShearerManaging Director

&Chris Bamber, CFA

Senior Managing Consultant

Polk Street Garage Discussion

DRAFT

PFM Financial Advisors LLC

Bethlehem Parking Authority Topics for Discussion

July 2, 2019

Polk Street Garage Overview

1) The Authority is considering the construction of a 470 space garage with a 30 space parking lot located

at 3rd & Polk Street.

2) The Authority has received Letters of Intent to enter into long term lease contracts from various parties, including

a. Northampton Community College – 300 spaces b. Lehigh Valley Charter High School for the Arts – 45 spaces c. Factory LLC – 25 spaces

3) For planning purposes, the Authority is assuming a total construction cost of approximately

$16,800,000 ($16,000,000 garage and $800,000 pedestrian bridge) as a Base Case scenario

a. The Authority expects to go out to bid for the Project in Fall 2019

4) The City & Authority are planning on utilizing $2,000,000 RACP Grant and a $500,000 contribution from Northampton CC towards the Project, with the balance financed by a long term debt issuance.

Polk Street Garage Financing

5) In early 2019, the Authority went through a competitive RFP process to determine the most effective

way to finance the potential Polk Street Garage project

6) The Authority selected a private bank loan that would be secured by a senior revenue pledge of the Authority only, with no guaranty by the City of Bethlehem

a. Issued on parity with existing guaranteed debt (Series of 2015 & Series of 2016)

7) The Authority is working to close on the new loan in July/August 2019 in order to provide funding for

the Project assuming construction starts late 2019.

Authority Pro‐Forma Projections

8) For pro‐forma projection purposes, the Authority has two scenarios

a. Scenario 1 – With 2019 violation fine increase b. Scenario 2 – No 2019 violation fine increase

9) All other assumptions (see summary pages for more detail) remain consistent across both scenarios

1

DRAFT

Scenario 1

With 2019 Violation Fine Increase

PFM Financial Advisors LLC 2

DRAFT

BETHLEHEM PARKING AUTHORITYSummary of Assumptions & Results

(Estimated) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected)Fiscal Year Ending 12/31 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2035 2040 2045

Year 0 1 2 3 4 5 6 7 8 9 10 11 12 17 22 27

SUMMARY OF ASSUMPTIONS

ON-STREET METER RATE INCREASES1) Initial Rate $1.00 $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 $2.25 $2.50 $2.752) Increase $0.50 $0.50 $0.25 $0.25 $0.25 $0.253) Ending Rate $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 $2.25 $2.50 $2.75 $3.004) Gross Growth Rate 50.0% 33.3% 12.5% 11.1% 10.0% 9.1%5) Elasticity Adjustment 80% 80% 80% 80% 80% 80%6) Net Growth Rate Due to Increase in Rate 40.0% 26.7% 10.0% 8.9% 8.0% 7.3%

VIOLATIONS RATE INCREASES7) Initial Average Rate $10.00 $10.00 $15.00 $15.00 $15.00 $15.00 $15.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $25.00 $30.00 $35.008) Increase $5.00 $5.00 $5.00 $5.00 $5.00 $5.009) Ending Average Rate $10.00 $15.00 $15.00 $15.00 $15.00 $15.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $25.00 $30.00 $35.00 $40.00

10) Assumed Average Number of Violations 79,248 62,942 62,942 62,942 62,942 62,942 56,648 56,648 56,648 56,648 56,648 56,648 50,983 45,885 41,296 37,16711) % Increase or (decrease) (20.6%) (10.0%) (10.0%) (10.0%) (10.0%) (10.0%)

12) Gross Combined Growth Rate 20.0% 12.5% 8.0% 5.0% 2.9%13) Elasticity Adjustment 60% 60% 60% 60% 60%14) Net Growth Rate on Budget Due to Increase in Rate 12.0% 7.5% 4.8% 3.0% 1.7%

GARAGE TRANSIENT RATE INCREASES15) Initial Rate $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.75 $2.00 $2.2516) Increase $0.50 $0.25 $0.25 $0.25 $0.2517) Ending Rate $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.75 $2.00 $2.25 $2.5018) Gross Growth Rate 50.0% 16.7% 14.3% 12.5% 11.1%19) Elasticity Adjustment 80% 80% 80% 80% 80%20) Net Growth Rate on Budget Due to Increase in Rate 40.0% 13.3% 11.4% 10.0% 8.9%

GARAGE MONTHLY CONTRACT RATE INCREASES21) Walnut Street Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0022) North Street Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0023) Lehigh Riverport Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0024) Commons Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0025) Surface Lots $5.00 $5.00 $5.00 $5.00 $5.00 $5.0026) New Street Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0027) Polk Street Garage $5.00 $5.00 $5.00 $5.00 $5.00

FINANCING ASSUMPTIONS28) Polk Street Garage Project Fund 16,800,00029) Walnut St Project Fund 17,000,000

SUMMARY OF RESULTS

REVENUES30) Meters 1,976,547 2,268,925 2,274,597 2,280,284 2,285,985 2,291,699 2,902,819 2,910,076 2,917,352 2,924,645 2,931,957 2,939,286 3,233,215 3,555,950 3,878,975 4,202,84931) Parking Violations - Total 1,439,473 1,487,193 1,490,911 1,494,638 1,498,375 1,502,121 1,682,375 1,686,581 1,690,798 1,695,025 1,699,262 1,703,510 1,831,274 1,938,439 2,016,633 2,071,79332) Garage revenue 2,475,949 2,394,506 3,085,590 3,106,696 3,127,804 2,913,255 3,370,450 3,457,965 3,476,082 3,494,201 3,512,323 3,530,447 3,839,663 4,189,096 4,477,999 4,764,38033) Other revenue 548,872 537,639 548,392 559,360 570,547 581,958 593,597 605,469 617,578 629,930 642,528 655,379 668,487 738,063 814,881 899,69534) TOTAL REVENUES 6,440,841 6,688,263 7,399,490 7,440,978 7,482,710 7,289,033 8,549,242 8,660,091 8,701,809 8,743,801 8,786,070 8,828,623 9,572,638 10,421,548 11,188,488 11,938,717

EXPENDITURES35) Salaries & Benefits 1,834,778 1,857,264 1,909,017 1,962,243 2,016,986 2,073,288 2,131,194 2,190,753 2,252,010 2,315,016 2,379,821 2,446,477 2,515,038 2,888,409 3,318,417 3,813,78636) Operating Expenses 1,675,387 1,626,150 1,782,782 1,817,546 1,853,006 1,889,175 1,926,068 1,963,698 2,002,081 2,041,231 2,081,165 2,121,897 2,163,444 2,383,979 2,627,468 2,896,30037) Debt Service 1,460,904 1,464,865 1,824,524 2,513,410 2,506,786 2,506,930 3,472,933 3,472,567 3,477,010 3,474,714 3,472,863 3,483,830 3,476,183 3,236,331 3,232,011 3,234,70438) TOTAL EXPENDITURES 4,971,069 4,948,279 5,516,323 6,293,200 6,376,778 6,469,392 7,530,195 7,627,017 7,731,101 7,830,961 7,933,849 8,052,204 8,154,666 8,508,719 9,177,896 9,944,790

39) GROSS INCOME 1,469,772 1,739,984 1,883,167 1,147,778 1,105,932 819,641 1,019,047 1,033,074 970,709 912,839 852,222 776,419 1,417,973 1,912,829 2,010,592 1,993,926

NON-OPERATING TRANSFERS40) Transfer to the City 475,000 450,000 425,000 0 0 0 0 0 0 0 0 0 0 0 0 041) Parking Facility Repair & Maintenance Prog 570,000 859,000 872,000 900,000 825,000 675,000 400,000 680,000 730,000 950,000 500,000 500,000 500,000 500,000 500,000 500,00042) Capital Reserve Transfer Out/(In) 245,000 150,000 305,000 0 0 0 335,000 70,000 0 (170,000) 70,000 0 635,000 1,130,000 1,230,000 1,210,00043) Due to the City Mechanic 25,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,00044) Transfer to Downtown Initiative Fund 0 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,00045) TOTAL NON-OPERATING TRANSFERS 1,315,000 1,589,000 1,732,000 1,030,000 955,000 805,000 865,000 880,000 860,000 910,000 700,000 630,000 1,265,000 1,760,000 1,860,000 1,840,000

46) NET INCOME 154,772 150,984 151,167 117,778 150,932 14,641 154,047 153,074 110,709 2,839 152,222 146,419 152,973 152,829 150,592 153,92647) DEBT SERVICE COVERAGE RATIO 2.01x 2.19x 2.03x 1.46x 1.44x 1.33x 1.29x 1.30x 1.28x 1.26x 1.25x 1.22x 1.41x 1.59x 1.62x 1.62x

Remaining Pro‐FormaAssumptions1) Base year revenues & expenditures based on combination of 2019 Budget, year to date estimates as well as results from various studies/reports from outside consultants2) On‐street meter and violations increases in 2019. Garage transient in 2024. Then all three increases in 2024, 2030 and every 5 years thereafter, with only 80% of increase assumed to account for elasticity. For 2019 violations revenues and number of violations, assumes estimates per DESMAN Fine Analysis from May 2019.3) On‐street meter revenue increases by 1.00% each year (approximate historical 5 year average growth rate in years with no increase to meter rates4) Parking violations revenue increases by 0.25% each year (approximate historical 5 year average growth rate) in years with no increase to fine or violation amounts5) Garage contract rates increase of $5.00 initially in 2020, 2024, 2030 and then every 5 years thereafter6) For these purposes only, finance demolition and replacement of Walnut St Garage in 2023, assuming new 500 space garage at a total cost of $17 million with a 30 year wrap bond issue that is 80/20 split between tax‐exempt/taxable is built. Assumes $235k reduction in garage revenue during construction in 2023 and 2024 then goes back up to amount before demolition. BPA has not made a decision on the status of Walnut St.7) Annual Parking Facility Repair & Maintenance Program (row 41) annual capital expenditures per DESMAN analysis

WORKING DRAFT FOR ILLUSTRATIVE PURPOSES

Polk Street Garage Assumptions 1) 470 space garage, 30 space parking lot with total construction cost of $16.8 million ($16 mm garage with $800k pedestrian bridge) financed by a $2 million RACP Grant, $500k NCC contribution, as well as a bank loan in July 2019 with a 30 year level payments that has a 50/50 split between tax‐exempt and taxable2) Assumes revenue of 370 total monthly contracts initially at $65/month, increasing with pro‐forma assumptions starting in 2024 ($65 to $70 per month)3) Assumes annual transient revenue of $76,400 and event/street meter revenue of $31,260 starting in 20204) Assumes annual O&M expense of $125,000 per year initially in 2020, growing at 2% thereafter

Scenario 1 ‐With 2019 Violation Fine Increase

Bethlehem Parking Authority 3DRAFT

BETHLEHEM PARKING AUTHORITYSummary of Revenues vs. Expenses

Fiscal Year Ending December 31, 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2035 2040 2045Year 0 1 2 3 4 5 6 7 8 9 10 11 12 17 22 27

(Base Year) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected)

REVENUE

Garage RevenueWalnut Street Garage 967,662 870,366 911,706 911,706 911,706 676,047 850,302 915,202 915,202 915,202 915,202 915,202 1,007,229 1,097,483 1,186,232 1,273,675North Street Garage 752,459 749,051 786,191 786,191 786,191 786,191 889,911 889,911 889,911 889,911 889,911 889,911 958,121 1,025,444 1,092,012 1,157,926Lehigh Riverport Garage 218,941 242,652 261,552 261,552 261,552 261,552 280,452 280,452 280,452 280,452 280,452 280,452 299,352 318,252 337,152 356,052Commons Garage 50,659 52,968 57,948 57,948 57,948 57,948 62,928 62,928 62,928 62,928 62,928 62,928 67,908 72,888 77,868 82,848Surface Lots 281,070 214,701 235,221 235,221 235,221 235,221 255,741 255,741 255,741 255,741 255,741 255,741 276,261 296,781 317,301 337,821New Street Garage 205,158 264,768 436,712 457,818 478,926 500,036 582,097 604,712 622,829 640,948 659,070 677,194 745,311 856,712 910,191 963,408Polk Street Garage (New Construction) 396,260 396,260 396,260 396,260 449,020 449,020 449,020 449,020 449,020 449,020 485,481 521,535 557,243 592,650

Total Garage Revenue 2,475,949 2,394,506 3,085,590 3,106,696 3,127,804 2,913,255 3,370,450 3,457,965 3,476,082 3,494,201 3,512,323 3,530,447 3,839,663 4,189,096 4,477,999 4,764,380

Other RevenueParking Violations - Meters 387,650 525,097 526,410 527,726 529,045 530,368 594,012 595,497 596,986 598,479 599,975 601,475 646,585 684,423 712,032 731,508Parking Violations - Other 1,051,823 962,096 964,501 966,912 969,329 971,753 1,088,363 1,091,084 1,093,812 1,096,546 1,099,288 1,102,036 1,184,688 1,254,016 1,304,601 1,340,285Special Events 210,069 228,764 233,339 238,006 242,766 247,622 252,574 257,625 262,778 268,033 273,394 278,862 284,439 314,044 346,730 382,818Meters 1,976,547 2,268,925 2,274,597 2,280,284 2,285,985 2,291,699 2,902,819 2,910,076 2,917,352 2,924,645 2,931,957 2,939,286 3,233,215 3,555,950 3,878,975 4,202,849Advertisement 10,902 8,652 8,825 9,002 9,182 9,365 9,553 9,744 9,938 10,137 10,340 10,547 10,758 11,877 13,114 14,478Park & Shop 54,421 52,722 53,776 54,852 55,949 57,068 58,209 59,374 60,561 61,772 63,008 64,268 65,553 72,376 79,909 88,226Interest 6,528Resident Permits 65,211 67,141 68,484 69,853 71,251 72,676 74,129 75,612 77,124 78,666 80,240 81,845 83,481 92,170 101,763 112,355Tow Revenue 13,207 12,360 12,607 12,859 13,117 13,379 13,646 13,919 14,198 14,482 14,771 15,067 15,368 16,968 18,734 20,683Valet Revenue 2,181Miscellaneous Revenue 186,353 168,000 171,360 174,787 178,283 181,849 185,486 189,195 192,979 196,839 200,776 204,791 208,887 230,628 254,632 281,134

Total Other Revenue 3,964,892 4,293,757 4,313,900 4,334,282 4,354,906 4,375,778 5,178,792 5,202,126 5,225,727 5,249,599 5,273,747 5,298,176 5,732,975 6,232,452 6,710,489 7,174,337

TOTAL REVENUE 6,440,841 6,688,263 7,399,490 7,440,978 7,482,710 7,289,033 8,549,242 8,660,091 8,701,809 8,743,801 8,786,070 8,828,623 9,572,638 10,421,548 11,188,488 11,938,717

EXPENSES

Salaries & BenefitsSalaries 1,170,196 1,185,831 1,221,406 1,258,048 1,295,790 1,334,663 1,374,703 1,415,944 1,458,423 1,502,175 1,547,240 1,593,658 1,641,467 1,902,911 2,205,995 2,557,353Health Benefits 322,187 274,944 283,192 291,688 300,439 309,452 318,735 328,298 338,146 348,291 358,740 369,502 380,587 441,204 511,477 592,942Pension 236,497 264,528 269,819 275,215 280,719 286,334 292,060 297,901 303,860 309,937 316,135 322,458 328,907 363,140 400,936 442,666FICA/Valic/Unemployment 105,898 131,961 134,600 137,292 140,038 142,839 145,696 148,610 151,582 154,613 157,706 160,860 164,077 181,154 200,009 220,826

Total Salaries & Benefits 1,834,778 1,857,264 1,909,017 1,962,243 2,016,986 2,073,288 2,131,194 2,190,753 2,252,010 2,315,016 2,379,821 2,446,477 2,515,038 2,888,409 3,318,417 3,813,786

Operating ExpensesUtilities 78,161 80,508 82,118 83,761 85,436 87,144 88,887 90,665 92,478 94,328 96,215 98,139 100,102 110,520 122,023 134,724Gasoline 26,974 26,973 27,512 28,063 28,624 29,196 29,780 30,376 30,983 31,603 32,235 32,880 33,538 37,028 40,882 45,137Communications 156,663 158,652 161,825 165,062 168,363 171,730 175,165 178,668 182,241 185,886 189,604 193,396 197,264 217,795 240,463 265,491Repairs & Maintenance 335,916 233,923 238,601 243,373 248,241 253,206 258,270 263,435 268,704 274,078 279,560 285,151 290,854 321,126 354,549 391,451Vehicle Maintenance 22,006 28,000 28,560 29,131 29,714 30,308 30,914 31,533 32,163 32,806 33,463 34,132 34,814 38,438 42,439 46,856Snow Removal 9,361 10,000 10,200 10,404 10,612 10,824 11,041 11,262 11,487 11,717 11,951 12,190 12,434 13,728 15,157 16,734Valet Expense 22,969Supplies 12,725 12,000 12,240 12,485 12,734 12,989 13,249 13,514 13,784 14,060 14,341 14,628 14,920 16,473 18,188 20,081Rental Fee 6,659Appraisal Fee 2,000Professional Fees - Auditing 7,820 7,820 7,976 8,136 8,299 8,465 8,634 8,807 8,983 9,162 9,346 9,533 9,723 10,735 11,853 13,086Professional Fees - Consultants 255,219 198,459 202,428 206,477 210,606 214,818 219,115 223,497 227,967 232,526 237,177 241,920 246,759 272,442 300,798 332,105Professional Fees - Legal 41,847 41,844 42,681 43,534 44,405 45,293 46,199 47,123 48,066 49,027 50,007 51,008 52,028 57,443 63,422 70,023Professional Fees - Payroll 9,165 7,200 7,344 7,491 7,641 7,794 7,949 8,108 8,271 8,436 8,605 8,777 8,952 9,884 10,913 12,049Professional Fees - Janitorial 7,440 8,400 8,568 8,739 8,914 9,092 9,274 9,460 9,649 9,842 10,039 10,240 10,444 11,531 12,732 14,057Professional Fees - Temporary Services 28,064Advertising 38,557 39,708 40,502 41,312 42,138 42,981 43,841 44,718 45,612 46,524 47,455 48,404 49,372 54,511 60,184 66,448Elevator 31,132 31,128 31,751 32,386 33,033 33,694 34,368 35,055 35,756 36,471 37,201 37,945 38,704 42,732 47,180 52,090Insurance 148,099 141,168 143,991 146,871 149,809 152,805 155,861 158,978 162,158 165,401 168,709 172,083 175,525 193,793 213,964 236,233Postage 4,160 3,870 3,947 4,026 4,107 4,189 4,273 4,358 4,445 4,534 4,625 4,718 4,812 5,313 5,866 6,476Printing 16,048 16,200 16,524 16,854 17,192 17,535 17,886 18,244 18,609 18,981 19,360 19,748 20,143 22,239 24,554 27,109Publications/Membership 4,850 4,500 4,590 4,682 4,775 4,871 4,968 5,068 5,169 5,272 5,378 5,485 5,595 6,178 6,820 7,530Signs 22,924 12,000 12,240 12,485 12,734 12,989 13,249 13,514 13,784 14,060 14,341 14,628 14,920 16,473 18,188 20,081Uniforms 11,997 11,000 11,220 11,444 11,673 11,907 12,145 12,388 12,636 12,888 13,146 13,409 13,677 15,101 16,672 18,408Meetings/Travel 7,455 14,000 14,280 14,566 14,857 15,154 15,457 15,766 16,082 16,403 16,731 17,066 17,407 19,219 21,219 23,428Miscellaneous 108,292 210,636 214,849 219,146 223,529 227,999 232,559 237,210 241,955 246,794 251,730 256,764 261,899 289,158 319,254 352,482Special Events 40,795 43,605 44,477 45,367 46,274 47,199 48,143 49,106 50,088 51,090 52,112 53,154 54,217 59,860 66,091 72,969Bank Charges 218,089 240,000 244,800 249,696 254,690 259,784 264,979 270,279 275,685 281,198 286,822 292,559 298,410 329,469 363,760 401,620St. John Wind Ch Interest 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556Additional O&M Expense - Polk St Garage 125,000 127,500 130,050 132,651 135,304 138,010 140,770 143,586 146,457 149,387 152,374 168,234 185,743 205,076

Total Operating Expenses 1,675,387 1,626,150 1,782,782 1,817,546 1,853,006 1,889,175 1,926,068 1,963,698 2,002,081 2,041,231 2,081,165 2,121,897 2,163,444 2,383,979 2,627,468 2,896,300


Summary of Revenues vs. Expenses Bethlehem Parking Authority 4DRAFT





Non-Operating ExpensesProfit/Loss on Fixed Assets

Total Non-Operating Expenses

Debt ServiceExisting Debt ServiceSeries A of 2015 Bonds (Taxable) 107,093 110,126 107,743 105,110 61,991Series B of 2015 Bonds 915,844 916,844 883,969 629,969 675,194 737,963 738,213 737,331 740,281 741,081 741,281 745,881 598,850Series A of 2016 (South Side Garage) 61,436 61,364 456,281 458,557 454,615 454,223 457,944 180,294Series B of 2016 (South Side Garage) 376,531 376,531 376,531 376,531 376,531 376,531 376,531 651,531 831,031 831,256 830,681 834,281 831,906 833,550 830,550 832,850Series A of 2019 (Taxable) 615,290 610,503 610,260 614,335 612,500 614,983 535,500 534,250 537,250 534,250 535,250Series B of 2019 (Tax-Exempt) 327,953 327,953 327,953 327,953 327,953 327,953 404,325 404,325 404,325 404,325 404,325 939,800 940,850Series of 2023 (Walnut St) [1] 957,958 962,958 962,762 962,552 962,326 962,092 1,106,852 1,463,206 1,461,661 1,461,004

Total Debt Service 1,460,904 1,464,865 1,824,524 2,513,410 2,506,786 2,506,930 3,472,933 3,472,567 3,477,010 3,474,714 3,472,863 3,483,830 3,476,183 3,236,331 3,232,011 3,234,704

TOTAL EXPENSES 4,971,069 4,948,279 5,516,323 6,293,200 6,376,778 6,469,392 7,530,195 7,627,017 7,731,101 7,830,961 7,933,849 8,052,204 8,154,666 8,508,719 9,177,896 9,944,790

GROSS INCOME 1,469,772 1,739,984 1,883,167 1,147,778 1,105,932 819,641 1,019,047 1,033,074 970,709 912,839 852,222 776,419 1,417,973 1,912,829 2,010,592 1,993,926

Non-Operating TransfersTransfer to the City 475,000 450,000 425,000Repair & Maintenance Program [2] 570,000 859,000 872,000 900,000 825,000 675,000 400,000 680,000 730,000 950,000 500,000 500,000 500,000 500,000 500,000 500,000Capital Reserve Transfer Out/(In) 245,000 150,000 305,000 335,000 70,000 (170,000) 70,000 635,000 1,130,000 1,230,000 1,210,000Due to the City Mechanic 25,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000Transfer to Downtown Initiative Fund 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000

Total Non-Operating Transfers 1,315,000 1,589,000 1,732,000 1,030,000 955,000 805,000 865,000 880,000 860,000 910,000 700,000 630,000 1,265,000 1,760,000 1,860,000 1,840,000

NET INCOME 154,772 150,984 151,167 117,778 150,932 14,641 154,047 153,074 110,709 2,839 152,222 146,419 152,973 152,829 150,592 153,926DEBT SERVICE COVERAGE RATIO 2.006x 2.188x 2.032x 1.457x 1.441x 1.327x 1.293x 1.297x 1.279x 1.263x 1.245x 1.223x 1.408x 1.591x 1.622x 1.616x

[1] Estimated debt srvice to demolish and replace Walnut St Garage with financing in 2023 assuming new 500 space garage at a total cost of $17 million ($15 mm construction, $1 mm property acquisition , $0.50 mm demo, and $0.50 mm, interim solution) with a 30 year wrap bond issue that is 80/20 split between tax-exempt/taxable.[2] Estimated repair program per DESMAN to complete annual repair and maintenance to the Walnut St, North St, Riverport, Commons and New Street Garages. Costs are expressed in 2018 dollars using prevailing wage rates. Inflation and escalation have not been included. Costs are estimates based on today's understanding and subject to change based on actual repair needs and future conditions


BETHLEHEM PARKING AUTHORITYGarage Revenue Breakdown Projections

POLK STREET GARAGEFiscal Year Ending December 31, 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2035 2040 2045

Year 0 1 2 3 4 5 6 7 8 9 10 11 12 17 22 27(Base Year) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected)

Transient76,400 76,400 76,400 76,400 106,960 106,960 106,960 106,960 106,960 106,960 121,221 135,075 148,583 161,790

Growth - - - - - 40.00% - - - - - 13.33% 11.43% 10.00% 8.89%

Total Transient 0 0 76,400 76,400 76,400 76,400 106,960 106,960 106,960 106,960 106,960 106,960 121,221 135,075 148,583 161,790

Contract300 300 300 300 300 300 300 300 300 300 300 300 300 300

Growth - - - - - - - - - - - - - - -

$65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Increase - - - - - $5.00 - - - - - $5.00 $5.00 $5.00 $5.00

45 45 45 45 45 45 45 45 45 45 45 45 45 45Growth - - - - - - - - - - - - - - -

$65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Increase - - - - - $5.00 - - - - - $5.00 $5.00 $5.00 $5.00

25 25 25 25 25 25 25 25 25 25 25 25 25 25Growth - - - - - - - - - - - - - - -

$65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Increase - - - - - $5.00 - - - - - $5.00 $5.00 $5.00 $5.00

Total # of Contracts 0 0 370 370 370 370 370 370 370 370 370 370 370 370 370 370Average Monthly Rate $65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Total Contract 0 0 288,600 288,600 288,600 288,600 310,800 310,800 310,800 310,800 310,800 310,800 333,000 355,200 377,400 399,600

Other Revenue31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260

Growth - - - - - - - - - - - - - - -

Total Other Revenue 0 0 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260

Total 3rd & Polk Garage 0 0 396,260 396,260 396,260 396,260 449,020 449,020 449,020 449,020 449,020 449,020 485,481 521,535 557,243 592,650Overall Growth 0.00% 0.00% 0.00% 0.00% 0.00% 13.31% 0.00% 0.00% 0.00% 0.00% 0.00% 8.12% 7.43% 6.85% 6.35%

Notes:- All numbers per DESMAN Feasibility Study

Monthly Rate

Event/Street Meter Revenue

Transient Revenue

# of Contracts (Northampton CC)

Monthly Rate

# of Contracts (Charter Arts)

Monthly Rate

# of Contracts (Factory)


Polk Street Garage Planning Bethlehem Parking Authority 6DRAFT

BETHLEHEM PARKING AUTHORITYSeries A of 2019(Taxable) Settled 8/1/2019

Dated 8/1/2019

1 2 3 4 5 6 7 8Gross Less: Net

Taxable Taxable Semi-Annual Fiscal Year Capitalized Fiscal YearDate Principal Rate [1] Interest Debt Service Debt Service Interest Debt Service

4355610/1/2019 4.550 48,381.67 48,381.67 48,381.67 (48,381.67) 0.00

4/1/2020 4.550 145,145.00 145,145.0010/1/2020 4.550 145,145.00 145,145.00 290,290.00 (290,290.00) 0.00

4/1/2021 4.550 145,145.00 145,145.0010/1/2021 325,000 4.550 145,145.00 470,145.00 615,290.00 615,290.00

4/1/2022 4.550 137,751.25 137,751.2510/1/2022 335,000 4.550 137,751.25 472,751.25 610,502.50 610,502.50

4/1/2023 4.550 130,130.00 130,130.0010/1/2023 350,000 4.550 130,130.00 480,130.00 610,260.00 610,260.00

4/1/2024 4.550 122,167.50 122,167.5010/1/2024 370,000 4.550 122,167.50 492,167.50 614,335.00 614,335.00

4/1/2025 4.550 113,750.00 113,750.0010/1/2025 385,000 4.550 113,750.00 498,750.00 612,500.00 612,500.00

4/1/2026 4.550 104,991.25 104,991.2510/1/2026 405,000 4.550 104,991.25 509,991.25 614,982.50 614,982.50

4/1/2027 5.000 105,250.00 105,250.0010/1/2027 325,000 5.000 105,250.00 430,250.00 535,500.00 535,500.00

4/1/2028 5.000 97,125.00 97,125.0010/1/2028 340,000 5.000 97,125.00 437,125.00 534,250.00 534,250.00

4/1/2029 5.000 88,625.00 88,625.0010/1/2029 360,000 5.000 88,625.00 448,625.00 537,250.00 537,250.00

4/1/2030 5.000 79,625.00 79,625.0010/1/2030 375,000 5.000 79,625.00 454,625.00 534,250.00 534,250.00

4/1/2031 5.000 70,250.00 70,250.0010/1/2031 395,000 5.000 70,250.00 465,250.00 535,500.00 535,500.00

4/1/2032 5.000 60,375.00 60,375.0010/1/2032 415,000 5.000 60,375.00 475,375.00 535,750.00 535,750.00

4/1/2033 5.000 50,000.00 50,000.0010/1/2033 435,000 5.000 50,000.00 485,000.00 535,000.00 535,000.00

4/1/2034 5.000 39,125.00 39,125.0010/1/2034 460,000 5.000 39,125.00 499,125.00 538,250.00 538,250.00

4/1/2035 5.000 27,625.00 27,625.00

10/1/2035 480,000 5.000 27,625.00 507,625.00 535,250.00 535,250.004/1/2036 5.000 15,625.00 15,625.00

10/1/2036 505,000 5.000 15,625.00 520,625.00 536,250.00 536,250.004/1/2037 5.000 3,000.00 3,000.00

10/1/2037 120,000 5.000 3,000.00 123,000.00 126,000.00 126,000.004/1/2038 5.000

10/1/2038 5.000 0.004/1/2039 5.000

10/1/2039 5.000 0.004/1/2040 5.000

10/1/2040 5.000 0.004/1/2041 5.000

10/1/2041 5.000 0.004/1/2042 5.000

10/1/2042 5.000 0.004/1/2043 5.000

10/1/2043 5.000 0.004/1/2044 5.000

10/1/2044 5.000 0.004/1/2045 5.000

10/1/2045 5.000 0.004/1/2046 5.000

10/1/2046 5.000 0.004/1/2047 5.000

10/1/2047 5.000 0.004/1/2048 5.000

10/1/2048 5.000 0.004/1/2049 5.000

10/1/2049 5.000 0.00

TOTALS 6,380,000 3,119,791.67 9,499,791.67 9,499,791.67 (338,671.67) 9,161,120.00

[1] For these purposes, assumes a taxable fixed rate of 4.55% for 7 years. Rate subject to reset at a fixed rate equal to 1 Month LIBOR + 2.15% with a cap of 6.75%. For these purposes, assumes 5.00%, which is approximately equal to the historical average over the past 25 years.

Scenario 1 ‐With Fine Increase

PFM Financial Advisors LLC 6/12/2019 7

DRAFT

BETHLEHEM PARKING AUTHORITYSeries B of 2019(Tax-Exempt) Settled 8/1/2019

Dated 8/1/2019

1 2 3 4 5 6 6 7Gross Less: Proposed

Tax-Exempt Tax-Exempt Semi-Annual Fiscal Year Capitalized Fiscal YearDate Principal Rate [1] Interest Debt Service Debt Service Interest Debt Service

4355610/1/2019 3.650 54,658.75 54,658.75 54,658.75 (54,658.75) 0.00

4/1/2020 3.650 163,976.25 163,976.2510/1/2020 3.650 163,976.25 163,976.25 327,952.50 (327,952.50) 0.00

4/1/2021 3.650 163,976.25 163,976.2510/1/2021 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2022 3.650 163,976.25 163,976.2510/1/2022 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2023 3.650 163,976.25 163,976.2510/1/2023 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2024 3.650 163,976.25 163,976.2510/1/2024 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2025 3.650 163,976.25 163,976.2510/1/2025 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2026 3.650 163,976.25 163,976.2510/1/2026 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2027 4.500 202,162.50 202,162.5010/1/2027 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2028 4.500 202,162.50 202,162.5010/1/2028 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2029 4.500 202,162.50 202,162.5010/1/2029 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2030 4.500 202,162.50 202,162.5010/1/2030 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2031 4.500 202,162.50 202,162.5010/1/2031 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2032 4.500 202,162.50 202,162.5010/1/2032 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2033 4.500 202,162.50 202,162.5010/1/2033 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2034 4.500 202,162.50 202,162.5010/1/2034 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2035 4.500 202,162.50 202,162.50

10/1/2035 4.500 202,162.50 202,162.50 404,325.00 404,325.004/1/2036 4.500 202,162.50 202,162.50

10/1/2036 4.500 202,162.50 202,162.50 404,325.00 404,325.004/1/2037 4.500 202,162.50 202,162.50

10/1/2037 410,000 4.500 202,162.50 612,162.50 814,325.00 814,325.004/1/2038 4.500 192,937.50 192,937.50

10/1/2038 555,000 4.500 192,937.50 747,937.50 940,875.00 940,875.004/1/2039 4.500 180,450.00 180,450.00

10/1/2039 580,000 4.500 180,450.00 760,450.00 940,900.00 940,900.004/1/2040 4.500 167,400.00 167,400.00

10/1/2040 605,000 4.500 167,400.00 772,400.00 939,800.00 939,800.004/1/2041 4.500 153,787.50 153,787.50

10/1/2041 635,000 4.500 153,787.50 788,787.50 942,575.00 942,575.004/1/2042 4.500 139,500.00 139,500.00

10/1/2042 660,000 4.500 139,500.00 799,500.00 939,000.00 939,000.004/1/2043 4.500 124,650.00 124,650.00

10/1/2043 690,000 4.500 124,650.00 814,650.00 939,300.00 939,300.004/1/2044 4.500 109,125.00 109,125.00

10/1/2044 720,000 4.500 109,125.00 829,125.00 938,250.00 938,250.004/1/2045 4.500 92,925.00 92,925.00

10/1/2045 755,000 4.500 92,925.00 847,925.00 940,850.00 940,850.004/1/2046 4.500 75,937.50 75,937.50

10/1/2046 790,000 4.500 75,937.50 865,937.50 941,875.00 941,875.004/1/2047 4.500 58,162.50 58,162.50

10/1/2047 825,000 4.500 58,162.50 883,162.50 941,325.00 941,325.004/1/2048 4.500 39,600.00 39,600.00

10/1/2048 860,000 4.500 39,600.00 899,600.00 939,200.00 939,200.004/1/2049 4.500 20,250.00 20,250.00

10/1/2049 900,000 4.500 20,250.00 920,250.00 940,500.00 940,500.00

TOTALS 8,985,000 9,507,351.25 18,492,351.25 18,492,351.25 (382,611.25) 18,109,740.00

[1] For these purposes, assumes a tax-exempt fixed rate of 3.65% for 7 years. Rate subject to reset at a fixed rate equal to 80% of 1 Month LIBOR + 2.15% with a cap of 5.40%. For these purposes, assumes 4.50%, which is approximately equal to the historical average over the past 25 years.



DRAFT

BETHLEHEM PARKING AUTHORITYSeries A&B of 2019SOURCES AND USES OF FUNDS

SERIES A SERIES B(TAXABLE) (TAX-EXEMPT)

Bonds 6,380,000.00 8,985,000.00 15,365,000.00

Original Issue Premium/(Discount) 0.00 0.00 0.00 RACP Grant Proceeds [1] 2,000,000.00 0.00 2,000,000.00 NCC Contribution 500,000.00 0.00 500,000.00 Accrued Interest 0.00 0.00 0.00

Total 8,880,000.00 8,985,000.00 17,865,000.00


Deposit to Construction Fund [2] 8,400,000.00 8,400,000.00 16,800,000.00 Debt Service Reserve Fund 0.00 0.00 0.00 Capitalized Interest 338,671.67 382,611.25 721,282.92 Underwriter's Discount 0.00 0.00 0.00 Bond Insurance 0.00 0.00 0.00 Bank Fee & Counsel 40 bps 14,000.00 21,000.00 35,000.00 Costs of Issuance 40 bps 124,000.00 176,000.00 300,000.00 Miscellaneous Expenses/Rounding 3,328.33 5,388.75 8,717.08

Total 8,880,000.00 8,985,000.00 17,865,000.00

Dated Date 8/1/2019

Settlement Date 8/1/2019

Yield of the Issue 4.302069True Interest Cost 4.320625

[1] Assumes that RACP Grant is extended to 2019[2] Includes estimates for hard costs, soft costs as well as land purchase. Includes $800,000 estimated cost for Pedestrian Bridge

TOTALSOURCES:

TOTALUSES:



DRAFT

Scenario 2

No 2019 Violation Fine Increase


DRAFT

BETHLEHEM PARKING AUTHORITYSummary of Assumptions & Results

(Estimated) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected)Fiscal Year Ending 12/31 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2035 2040 2045

Year 0 1 2 3 4 5 6 7 8 9 10 11 12 17 22 27

SUMMARY OF ASSUMPTIONS

ON-STREET METER RATE INCREASES1) Initial Rate $1.00 $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 $2.25 $2.50 $2.752) Increase $0.50 $0.50 $0.25 $0.25 $0.25 $0.253) Ending Rate $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 $2.25 $2.50 $2.75 $3.004) Gross Growth Rate 50.0% 33.3% 12.5% 11.1% 10.0% 9.1%5) Elasticity Adjustment 80% 80% 80% 80% 80% 80%6) Net Growth Rate Due to Increase in Rate 40.0% 26.7% 10.0% 8.9% 8.0% 7.3%

VIOLATIONS RATE INCREASES7) Initial Average Rate $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $20.00 $25.00 $30.008) Increase $5.00 $5.00 $5.00 $5.00 $5.009) Ending Average Rate $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $20.00 $25.00 $30.00 $35.00

10) Assumed Average Number of Violations 79,248 79,248 79,248 79,248 79,248 79,248 71,323 71,323 71,323 71,323 71,323 71,323 64,191 57,772 51,995 46,79511) % Increase or (decrease) (10.0%) (10.0%) (10.0%) (10.0%) (10.0%)

12) Gross Combined Growth Rate 35.0% 20.0% 12.5% 8.0% 5.0%13) Elasticity Adjustment 60% 60% 60% 60% 60%14) Net Growth Rate on Budget Due to Increase in Rate 21.0% 12.0% 7.5% 4.8% 3.0%

GARAGE TRANSIENT RATE INCREASES15) Initial Rate $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.75 $2.00 $2.2516) Increase $0.50 $0.25 $0.25 $0.25 $0.2517) Ending Rate $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.75 $2.00 $2.25 $2.5018) Gross Growth Rate 50.0% 16.7% 14.3% 12.5% 11.1%19) Elasticity Adjustment 80% 80% 80% 80% 80%20) Net Growth Rate on Budget Due to Increase in Rate 40.0% 13.3% 11.4% 10.0% 8.9%

GARAGE MONTHLY CONTRACT RATE INCREASES21) Walnut Street Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0022) North Street Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0023) Lehigh Riverport Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0024) Commons Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0025) Surface Lots $5.00 $5.00 $5.00 $5.00 $5.00 $5.0026) New Street Garage $5.00 $5.00 $5.00 $5.00 $5.00 $5.0027) Polk Street Garage $5.00 $5.00 $5.00 $5.00 $5.00

FINANCING ASSUMPTIONS28) Polk Street Garage Project Fund 16,800,00029) Walnut St Project Fund 17,000,000

SUMMARY OF RESULTS

REVENUES30) Meters 1,976,547 2,268,925 2,274,597 2,280,284 2,285,985 2,291,699 2,902,819 2,910,076 2,917,352 2,924,645 2,931,957 2,939,286 3,233,215 3,555,950 3,878,975 4,202,84931) Parking Violations - Total 1,439,473 1,443,072 1,446,679 1,450,296 1,453,922 1,457,557 1,763,643 1,768,053 1,772,473 1,776,904 1,781,346 1,785,800 2,000,095 2,171,684 2,298,770 2,391,49932) Garage revenue 2,475,949 2,394,506 3,085,590 3,106,696 3,127,804 2,913,255 3,370,450 3,457,965 3,476,082 3,494,201 3,512,323 3,530,447 3,839,663 4,189,096 4,477,999 4,764,38033) Other revenue 548,872 537,639 548,392 559,360 570,547 581,958 593,597 605,469 617,578 629,930 642,528 655,379 668,487 738,063 814,881 899,69534) TOTAL REVENUES 6,440,841 6,644,142 7,355,258 7,396,635 7,438,257 7,244,469 8,630,510 8,741,563 8,783,484 8,825,680 8,868,154 8,910,912 9,741,460 10,654,794 11,470,625 12,258,423

EXPENDITURES35) Salaries & Benefits 1,834,778 1,857,264 1,909,017 1,962,243 2,016,986 2,073,288 2,131,194 2,190,753 2,252,010 2,315,016 2,379,821 2,446,477 2,515,038 2,888,409 3,318,417 3,813,78636) Operating Expenses 1,675,387 1,626,150 1,782,782 1,817,546 1,853,006 1,889,175 1,926,068 1,963,698 2,002,081 2,041,231 2,081,165 2,121,897 2,163,444 2,383,979 2,627,468 2,896,30037) Debt Service 1,460,904 1,464,865 1,824,524 2,513,410 2,506,786 2,506,930 3,472,933 3,472,567 3,477,010 3,474,714 3,472,863 3,483,830 3,476,183 3,236,331 3,232,011 3,234,70438) TOTAL EXPENDITURES 4,971,069 4,948,279 5,516,323 6,293,200 6,376,778 6,469,392 7,530,195 7,627,017 7,731,101 7,830,961 7,933,849 8,052,204 8,154,666 8,508,719 9,177,896 9,944,790

39) GROSS INCOME 1,469,772 1,695,862 1,838,935 1,103,436 1,061,479 775,077 1,100,315 1,114,546 1,052,384 994,719 934,305 858,708 1,586,795 2,146,075 2,292,730 2,313,633

NON-OPERATING TRANSFERS OUT/(IN)40) Transfer to the City & Mechanic 475,000 450,000 425,000 0 0 0 0 0 0 0 0 0 0 0 0 041) Parking Facility Repair & Maint. Program 570,000 859,000 872,000 900,000 825,000 675,000 400,000 680,000 730,000 950,000 500,000 500,000 500,000 500,000 500,000 500,00042) Capital Reserve Transfer Out/(In) 245,000 105,000 260,000 0 0 (30,000) 420,000 150,000 40,000 (90,000) 150,000 75,000 805,000 1,365,000 1,510,000 1,530,00043) Due to the City Mechanic 25,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,00044) Transfer to Downtown Initiative Fund 0 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,00045) TOTAL NON-OPERATING TRANSFERS 1,315,000 1,544,000 1,687,000 1,030,000 955,000 775,000 950,000 960,000 900,000 990,000 780,000 705,000 1,435,000 1,995,000 2,140,000 2,160,000

46) NET INCOME 154,772 151,862 151,935 73,436 106,479 77 150,315 154,546 152,384 4,719 154,305 153,708 151,795 151,075 152,730 153,63347) DEBT SERVICE COVERAGE RATIO 2.01x 2.16x 2.01x 1.44x 1.42x 1.31x 1.32x 1.32x 1.30x 1.29x 1.27x 1.25x 1.46x 1.66x 1.71x 1.72x

Remaining Pro‐FormaAssumptions1) Base year revenues & expenditures based on combination of 2019 Budget, year to date estimates as well as results from various studies/reports from outside consultants2) On‐street meter increases in 2019. Garage transient in 2024. Then all three increases in 2024, 2030 and every 5 years thereafter, with only 80% of increase assumed to account for elasticity.3) On‐street meter revenue increases by 1.00% each year (approximate historical 5 year average growth rate in years with no increase to meter rates4) Parking violations revenue increases by 0.25% each year (approximate historical 5 year average growth rate) in years with no increase to fine or violation amounts5) Garage contract rates increase of $5.00 initially in 2020, 2024, 2030 and then every 5 years thereafter6) For these purposes only, finance demolition and replacement of Walnut St Garage in 2023, assuming new 500 space garage at a total cost of $17 million with a 30 year wrap bond issue that is 80/20 split between tax‐exempt/taxable is built. Assumes $235k reduction in garage revenue during construction in 2023 and 2024 then goes back up to amount before demolition. BPA has not made a decision on the status of Walnut St.7) Annual Parking Facility Repair & Maintenance Program (row 41) annual capital expenditures per DESMAN analysis

WORKING DRAFT FOR ILLUSTRATIVE PURPOSES

Polk Street Garage Assumptions 1) 470 space garage, 30 space parking lot with total construction cost of $16.8 million ($16 mm garage with $800k pedestrian bridge) financed by a $2 million RACP Grant, $500k NCC contribution, as well as a bank loan in July 2019 with a 30 year level payments that has a 50/50 split between tax‐exempt and taxable2) Assumes revenue of 370 total monthly contracts initially at $65/month, increasing with pro‐forma assumptions starting in 2024 ($65 to $70 per month)3) Assumes annual transient revenue of $76,400 and event/street meter revenue of $31,260 starting in 20204) Assumes annual O&M expense of $125,000 per year initially in 2020, growing at 2% thereafter

Scenario 2 ‐ No 2019 Violation Fine Increase

Bethlehem Parking Authority 11DRAFT




REVENUE

Garage RevenueWalnut Street Garage 967,662 870,366 911,706 911,706 911,706 676,047 850,302 915,202 915,202 915,202 915,202 915,202 1,007,229 1,097,483 1,186,232 1,273,675North Street Garage 752,459 749,051 786,191 786,191 786,191 786,191 889,911 889,911 889,911 889,911 889,911 889,911 958,121 1,025,444 1,092,012 1,157,926Lehigh Riverport Garage 218,941 242,652 261,552 261,552 261,552 261,552 280,452 280,452 280,452 280,452 280,452 280,452 299,352 318,252 337,152 356,052Commons Garage 50,659 52,968 57,948 57,948 57,948 57,948 62,928 62,928 62,928 62,928 62,928 62,928 67,908 72,888 77,868 82,848Surface Lots 281,070 214,701 235,221 235,221 235,221 235,221 255,741 255,741 255,741 255,741 255,741 255,741 276,261 296,781 317,301 337,821New Street Garage 205,158 264,768 436,712 457,818 478,926 500,036 582,097 604,712 622,829 640,948 659,070 677,194 745,311 856,712 910,191 963,408Polk Street Garage (New Construction) 396,260 396,260 396,260 396,260 449,020 449,020 449,020 449,020 449,020 449,020 485,481 521,535 557,243 592,650

Total Garage Revenue 2,475,949 2,394,506 3,085,590 3,106,696 3,127,804 2,913,255 3,370,450 3,457,965 3,476,082 3,494,201 3,512,323 3,530,447 3,839,663 4,189,096 4,477,999 4,764,380

Other RevenueParking Violations - Meters 387,650 388,620 389,591 390,565 391,541 392,520 474,950 476,137 477,327 478,521 479,717 480,916 538,626 584,835 619,059 644,031Parking Violations - Other 1,051,823 1,054,452 1,057,088 1,059,731 1,062,380 1,065,036 1,288,694 1,291,916 1,295,145 1,298,383 1,301,629 1,304,883 1,461,469 1,586,849 1,679,711 1,747,468Special Events 210,069 228,764 233,339 238,006 242,766 247,622 252,574 257,625 262,778 268,033 273,394 278,862 284,439 314,044 346,730 382,818Meters 1,976,547 2,268,925 2,274,597 2,280,284 2,285,985 2,291,699 2,902,819 2,910,076 2,917,352 2,924,645 2,931,957 2,939,286 3,233,215 3,555,950 3,878,975 4,202,849Advertisement 10,902 8,652 8,825 9,002 9,182 9,365 9,553 9,744 9,938 10,137 10,340 10,547 10,758 11,877 13,114 14,478Park & Shop 54,421 52,722 53,776 54,852 55,949 57,068 58,209 59,374 60,561 61,772 63,008 64,268 65,553 72,376 79,909 88,226Interest 6,528Resident Permits 65,211 67,141 68,484 69,853 71,251 72,676 74,129 75,612 77,124 78,666 80,240 81,845 83,481 92,170 101,763 112,355Tow Revenue 13,207 12,360 12,607 12,859 13,117 13,379 13,646 13,919 14,198 14,482 14,771 15,067 15,368 16,968 18,734 20,683Valet Revenue 2,181Miscellaneous Revenue 186,353 168,000 171,360 174,787 178,283 181,849 185,486 189,195 192,979 196,839 200,776 204,791 208,887 230,628 254,632 281,134

Total Other Revenue 3,964,892 4,249,636 4,269,668 4,289,939 4,310,453 4,331,214 5,260,060 5,283,598 5,307,403 5,331,479 5,355,831 5,380,465 5,901,797 6,465,698 6,992,626 7,494,044

TOTAL REVENUE 6,440,841 6,644,142 7,355,258 7,396,635 7,438,257 7,244,469 8,630,510 8,741,563 8,783,484 8,825,680 8,868,154 8,910,912 9,741,460 10,654,794 11,470,625 12,258,423

EXPENSES

Salaries & BenefitsSalaries 1,170,196 1,185,831 1,221,406 1,258,048 1,295,790 1,334,663 1,374,703 1,415,944 1,458,423 1,502,175 1,547,240 1,593,658 1,641,467 1,902,911 2,205,995 2,557,353Health Benefits 322,187 274,944 283,192 291,688 300,439 309,452 318,735 328,298 338,146 348,291 358,740 369,502 380,587 441,204 511,477 592,942Pension 236,497 264,528 269,819 275,215 280,719 286,334 292,060 297,901 303,860 309,937 316,135 322,458 328,907 363,140 400,936 442,666FICA/Valic/Unemployment 105,898 131,961 134,600 137,292 140,038 142,839 145,696 148,610 151,582 154,613 157,706 160,860 164,077 181,154 200,009 220,826

Total Salaries & Benefits 1,834,778 1,857,264 1,909,017 1,962,243 2,016,986 2,073,288 2,131,194 2,190,753 2,252,010 2,315,016 2,379,821 2,446,477 2,515,038 2,888,409 3,318,417 3,813,786

Operating ExpensesUtilities 78,161 80,508 82,118 83,761 85,436 87,144 88,887 90,665 92,478 94,328 96,215 98,139 100,102 110,520 122,023 134,724Gasoline 26,974 26,973 27,512 28,063 28,624 29,196 29,780 30,376 30,983 31,603 32,235 32,880 33,538 37,028 40,882 45,137Communications 156,663 158,652 161,825 165,062 168,363 171,730 175,165 178,668 182,241 185,886 189,604 193,396 197,264 217,795 240,463 265,491Repairs & Maintenance 335,916 233,923 238,601 243,373 248,241 253,206 258,270 263,435 268,704 274,078 279,560 285,151 290,854 321,126 354,549 391,451Vehicle Maintenance 22,006 28,000 28,560 29,131 29,714 30,308 30,914 31,533 32,163 32,806 33,463 34,132 34,814 38,438 42,439 46,856Snow Removal 9,361 10,000 10,200 10,404 10,612 10,824 11,041 11,262 11,487 11,717 11,951 12,190 12,434 13,728 15,157 16,734Valet Expense 22,969Supplies 12,725 12,000 12,240 12,485 12,734 12,989 13,249 13,514 13,784 14,060 14,341 14,628 14,920 16,473 18,188 20,081Rental Fee 6,659Appraisal Fee 2,000Professional Fees - Auditing 7,820 7,820 7,976 8,136 8,299 8,465 8,634 8,807 8,983 9,162 9,346 9,533 9,723 10,735 11,853 13,086Professional Fees - Consultants 255,219 198,459 202,428 206,477 210,606 214,818 219,115 223,497 227,967 232,526 237,177 241,920 246,759 272,442 300,798 332,105Professional Fees - Legal 41,847 41,844 42,681 43,534 44,405 45,293 46,199 47,123 48,066 49,027 50,007 51,008 52,028 57,443 63,422 70,023Professional Fees - Payroll 9,165 7,200 7,344 7,491 7,641 7,794 7,949 8,108 8,271 8,436 8,605 8,777 8,952 9,884 10,913 12,049Professional Fees - Janitorial 7,440 8,400 8,568 8,739 8,914 9,092 9,274 9,460 9,649 9,842 10,039 10,240 10,444 11,531 12,732 14,057Professional Fees - Temporary Services 28,064Advertising 38,557 39,708 40,502 41,312 42,138 42,981 43,841 44,718 45,612 46,524 47,455 48,404 49,372 54,511 60,184 66,448Elevator 31,132 31,128 31,751 32,386 33,033 33,694 34,368 35,055 35,756 36,471 37,201 37,945 38,704 42,732 47,180 52,090Insurance 148,099 141,168 143,991 146,871 149,809 152,805 155,861 158,978 162,158 165,401 168,709 172,083 175,525 193,793 213,964 236,233Postage 4,160 3,870 3,947 4,026 4,107 4,189 4,273 4,358 4,445 4,534 4,625 4,718 4,812 5,313 5,866 6,476Printing 16,048 16,200 16,524 16,854 17,192 17,535 17,886 18,244 18,609 18,981 19,360 19,748 20,143 22,239 24,554 27,109Publications/Membership 4,850 4,500 4,590 4,682 4,775 4,871 4,968 5,068 5,169 5,272 5,378 5,485 5,595 6,178 6,820 7,530Signs 22,924 12,000 12,240 12,485 12,734 12,989 13,249 13,514 13,784 14,060 14,341 14,628 14,920 16,473 18,188 20,081Uniforms 11,997 11,000 11,220 11,444 11,673 11,907 12,145 12,388 12,636 12,888 13,146 13,409 13,677 15,101 16,672 18,408Meetings/Travel 7,455 14,000 14,280 14,566 14,857 15,154 15,457 15,766 16,082 16,403 16,731 17,066 17,407 19,219 21,219 23,428Miscellaneous 108,292 210,636 214,849 219,146 223,529 227,999 232,559 237,210 241,955 246,794 251,730 256,764 261,899 289,158 319,254 352,482Special Events 40,795 43,605 44,477 45,367 46,274 47,199 48,143 49,106 50,088 51,090 52,112 53,154 54,217 59,860 66,091 72,969Bank Charges 218,089 240,000 244,800 249,696 254,690 259,784 264,979 270,279 275,685 281,198 286,822 292,559 298,410 329,469 363,760 401,620St. John Wind Ch Interest 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556 44,556Additional O&M Expense - Polk St Garage 125,000 127,500 130,050 132,651 135,304 138,010 140,770 143,586 146,457 149,387 152,374 168,234 185,743 205,076

Total Operating Expenses 1,675,387 1,626,150 1,782,782 1,817,546 1,853,006 1,889,175 1,926,068 1,963,698 2,002,081 2,041,231 2,081,165 2,121,897 2,163,444 2,383,979 2,627,468 2,896,300







Non-Operating ExpensesProfit/Loss on Fixed Assets

Total Non-Operating Expenses

Debt ServiceExisting Debt ServiceSeries A of 2015 Bonds (Taxable) 107,093 110,126 107,743 105,110 61,991Series B of 2015 Bonds 915,844 916,844 883,969 629,969 675,194 737,963 738,213 737,331 740,281 741,081 741,281 745,881 598,850Series A of 2016 (South Side Garage) 61,436 61,364 456,281 458,557 454,615 454,223 457,944 180,294Series B of 2016 (South Side Garage) 376,531 376,531 376,531 376,531 376,531 376,531 376,531 651,531 831,031 831,256 830,681 834,281 831,906 833,550 830,550 832,850Series A of 2019 (Taxable) 615,290 610,503 610,260 614,335 612,500 614,983 535,500 534,250 537,250 534,250 535,250Series B of 2019 (Tax-Exempt) 327,953 327,953 327,953 327,953 327,953 327,953 404,325 404,325 404,325 404,325 404,325 939,800 940,850Series of 2023 (Walnut St) [1] 957,958 962,958 962,762 962,552 962,326 962,092 1,106,852 1,463,206 1,461,661 1,461,004

Total Debt Service 1,460,904 1,464,865 1,824,524 2,513,410 2,506,786 2,506,930 3,472,933 3,472,567 3,477,010 3,474,714 3,472,863 3,483,830 3,476,183 3,236,331 3,232,011 3,234,704

TOTAL EXPENSES 4,971,069 4,948,279 5,516,323 6,293,200 6,376,778 6,469,392 7,530,195 7,627,017 7,731,101 7,830,961 7,933,849 8,052,204 8,154,666 8,508,719 9,177,896 9,944,790

GROSS INCOME 1,469,772 1,695,862 1,838,935 1,103,436 1,061,479 775,077 1,100,315 1,114,546 1,052,384 994,719 934,305 858,708 1,586,795 2,146,075 2,292,730 2,313,633

Non-Operating TransfersTransfer to the City 475,000 450,000 425,000Repair & Maintenance Program [2] 570,000 859,000 872,000 900,000 825,000 675,000 400,000 680,000 730,000 950,000 500,000 500,000 500,000 500,000 500,000 500,000Capital Reserve Transfer Out/(In) 245,000 105,000 260,000 (30,000) 420,000 150,000 40,000 (90,000) 150,000 75,000 805,000 1,365,000 1,510,000 1,530,000Due to the City Mechanic 25,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000Transfer to Downtown Initiative Fund 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000

Total Non-Operating Transfers 1,315,000 1,544,000 1,687,000 1,030,000 955,000 775,000 950,000 960,000 900,000 990,000 780,000 705,000 1,435,000 1,995,000 2,140,000 2,160,000

NET INCOME 154,772 151,862 151,935 73,436 106,479 77 150,315 154,546 152,384 4,719 154,305 153,708 151,795 151,075 152,730 153,633DEBT SERVICE COVERAGE RATIO 2.006x 2.158x 2.008x 1.439x 1.423x 1.309x 1.317x 1.321x 1.303x 1.286x 1.269x 1.246x 1.456x 1.663x 1.709x 1.715x

[1] Estimated debt srvice to demolish and replace Walnut St Garage with financing in 2023 assuming new 500 space garage at a total cost of $17 million ($15 mm construction, $1 mm property acquisition , $0.50 mm demo, and $0.50 mm, interim solution) with a 30 year wrap bond issue that is 80/20 split between tax-exempt/taxable.[2] Estimated repair program per DESMAN to complete annual repair and maintenance to the Walnut St, North St, Riverport, Commons and New Street Garages. Costs are expressed in 2018 dollars using prevailing wage rates. Inflation and escalation have not been included. Costs are estimates based on today's understanding and subject to change based on actual repair needs and future conditions


BETHLEHEM PARKING AUTHORITYGarage Revenue Breakdown Projections

POLK STREET GARAGEFiscal Year Ending December 31, 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2035 2040 2045

Year 0 1 2 3 4 5 6 7 8 9 10 11 12 17 22 27(Base Year) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected) (Projected)

Transient76,400 76,400 76,400 76,400 106,960 106,960 106,960 106,960 106,960 106,960 121,221 135,075 148,583 161,790

Growth - - - - - 40.00% - - - - - 13.33% 11.43% 10.00% 8.89%

Total Transient 0 0 76,400 76,400 76,400 76,400 106,960 106,960 106,960 106,960 106,960 106,960 121,221 135,075 148,583 161,790

Contract300 300 300 300 300 300 300 300 300 300 300 300 300 300

Growth - - - - - - - - - - - - - - -

$65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Increase - - - - - $5.00 - - - - - $5.00 $5.00 $5.00 $5.00

45 45 45 45 45 45 45 45 45 45 45 45 45 45Growth - - - - - - - - - - - - - - -

$65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Increase - - - - - $5.00 - - - - - $5.00 $5.00 $5.00 $5.00

25 25 25 25 25 25 25 25 25 25 25 25 25 25Growth - - - - - - - - - - - - - - -

$65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Increase - - - - - $5.00 - - - - - $5.00 $5.00 $5.00 $5.00

Total # of Contracts 0 0 370 370 370 370 370 370 370 370 370 370 370 370 370 370Average Monthly Rate $65.00 $65.00 $65.00 $65.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $75.00 $80.00 $85.00 $90.00Total Contract 0 0 288,600 288,600 288,600 288,600 310,800 310,800 310,800 310,800 310,800 310,800 333,000 355,200 377,400 399,600

Other Revenue31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260

Growth - - - - - - - - - - - - - - -

Total Other Revenue 0 0 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260 31,260

Total 3rd & Polk Garage 0 0 396,260 396,260 396,260 396,260 449,020 449,020 449,020 449,020 449,020 449,020 485,481 521,535 557,243 592,650Overall Growth 0.00% 0.00% 0.00% 0.00% 0.00% 13.31% 0.00% 0.00% 0.00% 0.00% 0.00% 8.12% 7.43% 6.85% 6.35%

Notes:- All numbers per DESMAN Feasibility Study

Monthly Rate

Event/Street Meter Revenue

Transient Revenue

# of Contracts (Northampton CC)

Monthly Rate

# of Contracts (Charter Arts)

Monthly Rate

# of Contracts (Factory)


Polk Street Garage Planning Bethlehem Parking Authority 14DRAFT

BETHLEHEM PARKING AUTHORITYSeries A of 2019(Taxable) Settled 8/1/2019

Dated 8/1/2019

1 2 3 4 5 6 7 8Gross Less: Net

Taxable Taxable Semi-Annual Fiscal Year Capitalized Fiscal YearDate Principal Rate [1] Interest Debt Service Debt Service Interest Debt Service

4355610/1/2019 4.550 48,381.67 48,381.67 48,381.67 (48,381.67) 0.00

4/1/2020 4.550 145,145.00 145,145.0010/1/2020 4.550 145,145.00 145,145.00 290,290.00 (290,290.00) 0.00

4/1/2021 4.550 145,145.00 145,145.0010/1/2021 325,000 4.550 145,145.00 470,145.00 615,290.00 615,290.00

4/1/2022 4.550 137,751.25 137,751.2510/1/2022 335,000 4.550 137,751.25 472,751.25 610,502.50 610,502.50

4/1/2023 4.550 130,130.00 130,130.0010/1/2023 350,000 4.550 130,130.00 480,130.00 610,260.00 610,260.00

4/1/2024 4.550 122,167.50 122,167.5010/1/2024 370,000 4.550 122,167.50 492,167.50 614,335.00 614,335.00

4/1/2025 4.550 113,750.00 113,750.0010/1/2025 385,000 4.550 113,750.00 498,750.00 612,500.00 612,500.00

4/1/2026 4.550 104,991.25 104,991.2510/1/2026 405,000 4.550 104,991.25 509,991.25 614,982.50 614,982.50

4/1/2027 5.000 105,250.00 105,250.0010/1/2027 325,000 5.000 105,250.00 430,250.00 535,500.00 535,500.00

4/1/2028 5.000 97,125.00 97,125.0010/1/2028 340,000 5.000 97,125.00 437,125.00 534,250.00 534,250.00

4/1/2029 5.000 88,625.00 88,625.0010/1/2029 360,000 5.000 88,625.00 448,625.00 537,250.00 537,250.00

4/1/2030 5.000 79,625.00 79,625.0010/1/2030 375,000 5.000 79,625.00 454,625.00 534,250.00 534,250.00

4/1/2031 5.000 70,250.00 70,250.0010/1/2031 395,000 5.000 70,250.00 465,250.00 535,500.00 535,500.00

4/1/2032 5.000 60,375.00 60,375.0010/1/2032 415,000 5.000 60,375.00 475,375.00 535,750.00 535,750.00

4/1/2033 5.000 50,000.00 50,000.0010/1/2033 435,000 5.000 50,000.00 485,000.00 535,000.00 535,000.00

4/1/2034 5.000 39,125.00 39,125.0010/1/2034 460,000 5.000 39,125.00 499,125.00 538,250.00 538,250.00

4/1/2035 5.000 27,625.00 27,625.00

10/1/2035 480,000 5.000 27,625.00 507,625.00 535,250.00 535,250.004/1/2036 5.000 15,625.00 15,625.00

10/1/2036 505,000 5.000 15,625.00 520,625.00 536,250.00 536,250.004/1/2037 5.000 3,000.00 3,000.00

10/1/2037 120,000 5.000 3,000.00 123,000.00 126,000.00 126,000.004/1/2038 5.000

10/1/2038 5.000 0.004/1/2039 5.000

10/1/2039 5.000 0.004/1/2040 5.000

10/1/2040 5.000 0.004/1/2041 5.000

10/1/2041 5.000 0.004/1/2042 5.000

10/1/2042 5.000 0.004/1/2043 5.000

10/1/2043 5.000 0.004/1/2044 5.000

10/1/2044 5.000 0.004/1/2045 5.000

10/1/2045 5.000 0.004/1/2046 5.000

10/1/2046 5.000 0.004/1/2047 5.000

10/1/2047 5.000 0.004/1/2048 5.000

10/1/2048 5.000 0.004/1/2049 5.000

10/1/2049 5.000 0.00

TOTALS 6,380,000 3,119,791.67 9,499,791.67 9,499,791.67 (338,671.67) 9,161,120.00

[1] For these purposes, assumes a taxable fixed rate of 4.55% for 7 years. Rate subject to reset at a fixed rate equal to 1 Month LIBOR + 2.15% with a cap of 6.75%. For these purposes, assumes 5.00%, which is approximately equal to the historical average over the past 25 years.



DRAFT

BETHLEHEM PARKING AUTHORITYSeries B of 2019(Tax-Exempt) Settled 8/1/2019

Dated 8/1/2019

1 2 3 4 5 6 6 7Gross Less: Proposed

Tax-Exempt Tax-Exempt Semi-Annual Fiscal Year Capitalized Fiscal YearDate Principal Rate [1] Interest Debt Service Debt Service Interest Debt Service

4355610/1/2019 3.650 54,658.75 54,658.75 54,658.75 (54,658.75) 0.00

4/1/2020 3.650 163,976.25 163,976.2510/1/2020 3.650 163,976.25 163,976.25 327,952.50 (327,952.50) 0.00

4/1/2021 3.650 163,976.25 163,976.2510/1/2021 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2022 3.650 163,976.25 163,976.2510/1/2022 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2023 3.650 163,976.25 163,976.2510/1/2023 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2024 3.650 163,976.25 163,976.2510/1/2024 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2025 3.650 163,976.25 163,976.2510/1/2025 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2026 3.650 163,976.25 163,976.2510/1/2026 3.650 163,976.25 163,976.25 327,952.50 327,952.50

4/1/2027 4.500 202,162.50 202,162.5010/1/2027 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2028 4.500 202,162.50 202,162.5010/1/2028 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2029 4.500 202,162.50 202,162.5010/1/2029 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2030 4.500 202,162.50 202,162.5010/1/2030 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2031 4.500 202,162.50 202,162.5010/1/2031 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2032 4.500 202,162.50 202,162.5010/1/2032 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2033 4.500 202,162.50 202,162.5010/1/2033 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2034 4.500 202,162.50 202,162.5010/1/2034 4.500 202,162.50 202,162.50 404,325.00 404,325.00

4/1/2035 4.500 202,162.50 202,162.50

10/1/2035 4.500 202,162.50 202,162.50 404,325.00 404,325.004/1/2036 4.500 202,162.50 202,162.50

10/1/2036 4.500 202,162.50 202,162.50 404,325.00 404,325.004/1/2037 4.500 202,162.50 202,162.50

10/1/2037 410,000 4.500 202,162.50 612,162.50 814,325.00 814,325.004/1/2038 4.500 192,937.50 192,937.50

10/1/2038 555,000 4.500 192,937.50 747,937.50 940,875.00 940,875.004/1/2039 4.500 180,450.00 180,450.00

10/1/2039 580,000 4.500 180,450.00 760,450.00 940,900.00 940,900.004/1/2040 4.500 167,400.00 167,400.00

10/1/2040 605,000 4.500 167,400.00 772,400.00 939,800.00 939,800.004/1/2041 4.500 153,787.50 153,787.50

10/1/2041 635,000 4.500 153,787.50 788,787.50 942,575.00 942,575.004/1/2042 4.500 139,500.00 139,500.00

10/1/2042 660,000 4.500 139,500.00 799,500.00 939,000.00 939,000.004/1/2043 4.500 124,650.00 124,650.00

10/1/2043 690,000 4.500 124,650.00 814,650.00 939,300.00 939,300.004/1/2044 4.500 109,125.00 109,125.00

10/1/2044 720,000 4.500 109,125.00 829,125.00 938,250.00 938,250.004/1/2045 4.500 92,925.00 92,925.00

10/1/2045 755,000 4.500 92,925.00 847,925.00 940,850.00 940,850.004/1/2046 4.500 75,937.50 75,937.50

10/1/2046 790,000 4.500 75,937.50 865,937.50 941,875.00 941,875.004/1/2047 4.500 58,162.50 58,162.50

10/1/2047 825,000 4.500 58,162.50 883,162.50 941,325.00 941,325.004/1/2048 4.500 39,600.00 39,600.00

10/1/2048 860,000 4.500 39,600.00 899,600.00 939,200.00 939,200.004/1/2049 4.500 20,250.00 20,250.00

10/1/2049 900,000 4.500 20,250.00 920,250.00 940,500.00 940,500.00

TOTALS 8,985,000 9,507,351.25 18,492,351.25 18,492,351.25 (382,611.25) 18,109,740.00

[1] For these purposes, assumes a tax-exempt fixed rate of 3.65% for 7 years. Rate subject to reset at a fixed rate equal to 80% of 1 Month LIBOR + 2.15% with a cap of 5.40%. For these purposes, assumes 4.50%, which is approximately equal to the historical average over the past 25 years.



DRAFT

BETHLEHEM PARKING AUTHORITYSeries A&B of 2019SOURCES AND USES OF FUNDS


Bonds 6,380,000.00 8,985,000.00 15,365,000.00

Original Issue Premium/(Discount) 0.00 0.00 0.00 RACP Grant Proceeds [1] 2,000,000.00 0.00 2,000,000.00 NCC Contribution 500,000.00 0.00 500,000.00 Accrued Interest 0.00 0.00 0.00

Total 8,880,000.00 8,985,000.00 17,865,000.00


Deposit to Construction Fund [2] 8,400,000.00 8,400,000.00 16,800,000.00 Debt Service Reserve Fund 0.00 0.00 0.00 Capitalized Interest 338,671.67 382,611.25 721,282.92 Underwriter's Discount 0.00 0.00 0.00 Bond Insurance 0.00 0.00 0.00 Bank Fee & Counsel 40 bps 14,000.00 21,000.00 35,000.00 Costs of Issuance 40 bps 124,000.00 176,000.00 300,000.00 Miscellaneous Expenses/Rounding 3,328.33 5,388.75 8,717.08

Total 8,880,000.00 8,985,000.00 17,865,000.00

Dated Date 8/1/2019

Settlement Date 8/1/2019

Yield of the Issue 4.302069True Interest Cost 4.320625

[1] Assumes that RACP Grant is extended to 2019[2] Includes estimates for hard costs, soft costs as well as land purchase. Includes $800,000 estimated cost for Pedestrian Bridge

TOTALSOURCES:

TOTALUSES:



DRAFT

Appendix A

Contract Commitment Letters


DRAFT

19

DRAFT

20

DRAFT

From: Donna Pereira <[email protected]>Sent: Wednesday, March 20, 2019 6:04 PMTo: KevinCc: Richard ThompsonSubject: FW: Polk Street Garage- Letter of IntentAttachments: image001.jpg; ATT00001.htm; 20190320132158941.pdf; ATT00002.htm

Hi Kevin,

I hope you are well!

Factory LLC will rent (25) parking spaces at the Polk Street Garage on a monthly basis at $65 per space subject to reviewing the lease.

Please let me know if you need any additional information.

Warm regards, Donna‐

Donna Sledzik-Pereira Director of Office Operations Chief Executive Assistant to Richard Thompson; Founder

FACTORY LLC 315 Columbia Street Bethlehem, PA 18015

C: 201.320.2114 / O: 201.340.2830 E: [email protected] www.factory-llc.com

21

DRAFT

Appendix B

DESMAN Materials


DRAFT

23DRAFT

Issued TicketViolation Comparison

1

2

3

4

5

6

7

89

10

11

12

131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172

A G H I J K L M N O P Q R S

BETHLEHEM PARKING AUTHORITYParking Violation Revenue Forecast Projected

EXCEEDING PARKING METER LIMITS 1A 25,314 36.558% $253,140.00 1A 24,398 31.245% $243,980.00 $10.00 $15.00 -40% 14,639 $219,585.00

NOT PARKED WITHIN A METERED SPACE 1B 348 0.503% $3,480.00 1B 324 0.415% $3,240.00 $10.00 $15.00 -40% 194 $2,910.00

OCCUPIED SPACE IN EXCESS OF LAWFUL LIMIT (METER FEED) 1C 147 0.212% $1,470.00 1C 337 0.432% $3,370.00 $10.00 $15.00 -40% 202 $3,030.00

UNAUTHORIZED PERMIT 1RP 61 0.088% $6,100.00 1RP 10 0.013% $1,000.00 $100.00 $100.00 0% 10 $1,000.00

DOUBLE PARKED 2A 93 0.134% $930.00 2A 168 0.215% $1,680.00 $10.00 $20.00 -5% 160 $3,200.00PARKING IN FRONT YARD 2AA 14 0.020% $140.00 2AA 6 0.008% $60.00 $10.00 $20.00 -5% 6 $120.00ON A SIDEWALK 2B 260 0.375% $2,600.00 2B 510 0.653% $5,100.00 $10.00 $20.00 -5% 485 $9,700.00

ON A BRIDGE OR IN A TUNNEL 2C 0 0.000% $0.00 2C 0 0.000% $0.00 $10.00 $20.00 -5% 0 $0.00

ON A RAILROAD TRACK 2D 0 0.000% $0.00 2D 1 0.001% $10.00 $10.00 $20.00 -5% 1 $20.00ANGLE PARKED 2-WAY STREET 2E 31 0.045% $310.00 2E 6 0.008% $60.00 $10.00 $20.00 -5% 6 $120.00ANGLE PARKED 1-WAY STREET 2F 14 0.020% $140.00 2F 10 0.013% $100.00 $10.00 $20.00 -5% 10 $200.00AGAINST TRAFFIC 2- WAY ST 2G 316 0.456% $3,160.00 2G 512 0.656% $5,120.00 $10.00 $20.00 -5% 486 $9,720.00AGAINST TRAFFIC 1-WAY ST 2H 38 0.055% $380.00 2H 34 0.044% $340.00 $10.00 $20.00 -5% 32 $640.00OVERTIME PARKING 1HR ZONE-SPECIAL EVENT 2HF 0 0.000% $0.00 2HF 0 0.000% $0.00 $10.00 $20.00 -15% 0 $0.00OVERTIME PARKING 2 HR ZONE-SPECIAL EVENT 2HG 12 0.017% $120.00 2HG 0 0.000% $0.00 $10.00 $20.00 -15% 0 $0.00UNATTENDED TRAILER 2JA 75 0.108% $750.00 2JA 118 0.151% $1,180.00 $10.00 $20.00 -5% 112 $2,240.00BLOCKING TRAFFIC OPPOSITE EXCAVATION 2K 7 0.010% $70.00 2K 3 0.004% $30.00 $10.00 $20.00 -5% 3 $60.00IN FRONT OF PUBLIC OR PRIVATE DRIVEWAY 2L 190 0.274% $1,900.00 2L 176 0.225% $1,760.00 $10.00 $20.00 -5% 167 $3,340.00OFFICIAL SIGN NO PARKING 2M 4 0.006% $40.00 2M 3 0.004% $30.00 $10.00 $20.00 -5% 3 $60.00NO PARKING PRIVATE PROPERTY 2N 0 0.000% $0.00 2N 1 0.001% $10.00 $10.00 $20.00 -5% 1 $20.00VEHICLE ON DISPLAY FOR SALE 2P 10 0.014% $100.00 2P 22 0.028% $220.00 $10.00 $20.00 -5% 21 $420.00GREASING AND REPAIRING 2Q 5 0.007% $50.00 2Q 8 0.010% $80.00 $10.00 $20.00 -5% 8 $160.00OVERTIME PARKING 2R 8 0.012% $80.00 2R 21 0.027% $210.00 $10.00 $20.00 -5% 20 $400.00OVERTIME PARKING IN 5 MINUTE ZONE 2RA 2 0.003% $20.00 2RA 3 0.004% $30.00 $10.00 $20.00 -30% 2 $40.00OVERTIME PARKING IN 10 MINUTE ZONE 2RB 0 0.000% $0.00 2RB 0 0.000% $0.00 $10.00 $20.00 -30% 0 $0.00OVERTIME PARKING IN 15 MINUTE ZONE 2RC 32 0.046% $320.00 2RC 11 0.014% $110.00 $10.00 $20.00 -30% 8 $160.00OVERTIME PARKING IN 20 MINUTE ZONE 2RD 406 0.586% $4,060.00 2RD 307 0.393% $3,070.00 $10.00 $20.00 -30% 215 $4,300.00OVERTIME PARKING IN 30 MINUTE ZONE 2RE 65 0.094% $650.00 2RE 52 0.067% $520.00 $10.00 $20.00 -30% 36 $720.00OVERTIME PARKING IN 1 HOUR ZONE 2RF 416 0.601% $4,160.00 2RF 284 0.364% $2,840.00 $10.00 $20.00 -30% 199 $3,980.00OVERTIME PARKING IN 2 HOUR ZONE 2RG 14,403 20.801% $144,030.00 2RG 15,787 20.218% $157,870.00 $10.00 $20.00 -30% 11,051 $221,020.00OVERTIME PARKING IN 4 HOUR ZONE 2RH 386 0.557% $3,860.00 2RH 409 0.524% $4,090.00 $10.00 $20.00 -30% 286 $5,720.00OVERTIME PARKING IN 3 HOUR ZONE 2RI 2 0.003% $20.00 2RI 3 0.004% $30.00 $10.00 $20.00 -30% 2 $40.00OVERTIME PARKING IN 12 MINUTE ZONE 2RJ 1 0.001% $10.00 2RJ 1 0.001% $10.00 $10.00 $20.00 -30% 1 $20.00UNAUTHORIZED PERMIT 2RP 9 0.013% $1,800.00 2RP 0 0.000% $0.00 $200.00 $500.00 -5% 0 $0.00WITHIN AN INTERSECTION 2S 94 0.136% $940.00 2S 70 0.090% $700.00 $10.00 $20.00 -5% 67 $1,340.00WITHIN 20' OF A CROSSWALK AT AN INTERSECTION 2T 172 0.248% $1,720.00 2T 241 0.309% $2,410.00 $10.00 $20.00 -5% 229 $4,580.00WITHIN 30' OF STOP SIGN OR SIGNAL 2U 231 0.334% $2,310.00 2U 316 0.405% $3,160.00 $10.00 $20.00 -5% 300 $6,000.00WITHIN 20' OF FIREHOUSE DRIVEWAY 2V 1 0.001% $10.00 2V 1 0.001% $10.00 $10.00 $20.00 -5% 1 $20.0050' OF RR CROSSING 2W 1 0.001% $10.00 2W 0 0.000% $0.00 $10.00 $20.00 -5% 0 $0.00WITHIN A SAFETY ZONE 2X 1 0.001% $10.00 2X 4 0.005% $40.00 $10.00 $20.00 -5% 4 $80.0012" FROM CURB 2-WAY STREET 2Y 56 0.081% $560.00 2Y 116 0.149% $1,160.00 $10.00 $20.00 -5% 110 $2,200.0012" FROM CURB 1-WAY STREET 2Z 25 0.036% $250.00 2Z 31 0.040% $310.00 $10.00 $20.00 -5% 29 $580.00PARKED IN CROSSWALK 3A 24 0.035% $360.00 3A 59 0.076% $885.00 $15.00 $20.00 -5% 56 $1,120.00WITHIN 15' OF FIRE HYDRANT 3B 637 0.920% $9,555.00 3B 696 0.891% $10,440.00 $15.00 $20.00 -5% 661 $13,220.00EXPIRED REGISTRATION 3C 1,910 2.758% $28,650.00 3C 5,228 6.695% $78,420.00 $15.00 $15.00 0% 5,228 $78,420.00EXPIRED INSPECTION 3D 6,851 9.894% $102,765.00 3D 8,027 10.280% $120,405.00 $15.00 $15.00 0% 8,027 $120,405.00OFFICIAL SIGN: NO STANDING / STOPPING 3M 76 0.110% $1,140.00 3M 99 0.127% $1,485.00 $15.00 $20.00 -5% 94 $1,880.00OFFICIAL SIGN: NO PARKING 3N 6,049 8.736% $90,735.00 3N 7,441 9.529% $111,615.00 $15.00 $20.00 -5% 7,069 $141,380.00NO PARKING PRIVATE PROPERTY 3NA 1,787 2.581% $26,805.00 3NA 1,886 2.415% $28,290.00 $15.00 $20.00 -5% 1,792 $35,840.00OFFICIAL SIGN: NO PARKING / STREET CLEANING 3NS 6,504 9.393% $97,560.00 3NS 7,829 10.026% $117,435.00 $15.00 $20.00 -5% 7,438 $148,760.00UNAUTHORIZED PERMIT 3RP 4 0.006% $1,200.00 3RP 0 0.000% $0.00 $300.00 $300.00 0% 0 $0.00RESERVED FOR HANDICAPPED 4A 445 0.643% $22,250.00 4A 559 0.716% $27,950.00 $50.00 $100.00 -5% 531 $53,100.00RESERVERD FOR HANDICAP-RESIDENTIAL 4AA 76 0.110% $3,800.00 4AA 49 0.063% $2,450.00 $50.00 $100.00 -5% 47 $4,700.00PARKING TRUCKS / TRAILERS 4B 38 0.055% $1,900.00 4B 57 0.073% $2,850.00 $50.00 $50.00 0% 57 $2,850.00OVERSIZED VEHICLES 72 HOURS 4C 2 0.003% $100.00 4C 4 0.005% $200.00 $50.00 $50.00 0% 4 $200.00DOUBLE PARKED - SPECIAL EVENT 5A 2 0.003% $60.00 5A 4 0.005% $120.00 $30.00 $30.00 0% 4 $120.00ON A SIDEWALK - SPECIAL EVENT 5B 8 0.012% $240.00 5B 6 0.008% $180.00 $30.00 $30.00 0% 6 $180.00WITHIN AN INTERSECTION - SPECIAL EVENT 5C 3 0.004% $90.00 5C 2 0.003% $60.00 $30.00 $30.00 0% 2 $60.00BLOCKING GARAGE - SPECIAL EVENT 5D 7 0.010% $210.00 5D 1 0.001% $30.00 $30.00 $30.00 0% 1 $30.00WITHIN 30' OF STOP SIGN/SIGNAL-SPECIAL EVENT 5E 18 0.026% $540.00 5E 8 0.010% $240.00 $30.00 $30.00 0% 8 $240.00WITHIN 15' OF FIRE HYDRANT - SPECIAL EVENT 5F 36 0.052% $1,080.00 5F 38 0.049% $1,140.00 $30.00 $30.00 0% 38 $1,140.00OFFICIAL SIGN:NO PARKING-SPECIAL EVENT 5G 983 1.420% $29,490.00 5G 937 1.200% $28,110.00 $30.00 $30.00 0% 937 $28,110.00OVERTIME PARKING 5 MIN ZONE-SPECIAL EVENT 5HA 1 0.001% $30.00 5HA 3 0.004% $90.00 $30.00 $30.00 0% 3 $90.00OVERTIME PARKING 10 MIN ZONE-SPECIAL EVENT 5HB 0 0.000% $0.00 5HB 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00OVERTIME PARKING 15 MIN ZONE-SPECIAL EVENT 5HC 0 0.000% $0.00 5HC 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00OVERTIME PARKING 20 MIN ZONE-SPECIAL EVENT 5HD 9 0.013% $270.00 5HD 8 0.010% $240.00 $30.00 $30.00 0% 8 $240.00OVERTIME PARKING 30 MIN ZONE-SPECIAL EVENT 5HE 1 0.001% $30.00 5HE 2 0.003% $60.00 $30.00 $30.00 0% 2 $60.00OVERTIME PARKING 1 HOUR ZONE-SPECIAL EVENT 5HF 38 0.055% $1,140.00 5HF 28 0.036% $840.00 $30.00 $30.00 0% 28 $840.00

2017 Parking Violations

2017 Total

2018 Parking Violations

% of Total Violations

Value of Tickets Issued

Value of Tickets Issued

Projected 2019 Total Vilolations

Issued

Value of Tickets Issued (proposed

fine amounts)

Projected Volume Reduction from Price Change

2018 Total Current Fine

Proposed Fine

% of Total Violations

24DRAFT

Issued TicketViolation Comparison

73747576777879808182838485868788899091

929394

A G H I J K L M N O P Q R SOVERTIME PARKING 2 HOUR ZONE-SPECIAL EVENT 5HG 333 0.481% $9,990.00 5HG 376 0.482% $11,280.00 $30.00 $30.00 0% 376 $11,280.00OVERTIME PARKING 4 HOUR ZONE-SPECIAL EVENT 5HH 2 0.003% $60.00 5HH 9 0.012% $270.00 $30.00 $30.00 0% 9 $270.00OVERTIME PARKING 3 HOUR ZONE-SPECIAL EVENT 5HI 0 0.000% $0.00 5HI 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00OVERTIME PARKING 12 MIN ZONE-SPECIAL EVENT 5HJ 0 0.000% $0.00 5HJ 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00ON A CROSSWALK - SPECIAL EVENT 5I 3 0.004% $90.00 5I 3 0.004% $90.00 $30.00 $30.00 0% 3 $90.00ON A RAILROAD TRACK-SPECIAL EVENT 5J 0 0.000% $0.00 5J 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00AREA BETWEEN ROADWAYS AND CROSSOVERS 5K 0 0.000% $0.00 5K 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00OFFICIAL SIGN NOT STOPPING-SPECIAL EVENT 5L 2 0.003% $60.00 5L 1 0.001% $30.00 $30.00 $30.00 0% 1 $30.00OFFICIAL SIGN NO STANDING-SPECIAL EVENT 5M 0 0.000% $0.00 5M 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.0020' OF A CROSSWALK AT AN INTERSECTION-SPECIAL EVENT 5N 8 0.012% $240.00 5N 19 0.024% $570.00 $30.00 $30.00 0% 19 $570.00AGAINST TRAFFIC - 2WAY STREET-SPECIAL EVENT 5O 0 0.000% $0.00 5O 5 0.006% $150.00 $30.00 $30.00 0% 5 $150.00AGAINST TRAFFIC - 1 WAY STREET-SPECIAL EVENT 5P 2 0.003% $60.00 5P 1 0.001% $30.00 $30.00 $30.00 0% 1 $30.00UNATTENDED VEHICLE ON PRIVATE PROPERTY-SPECIAL EVENT 5Q 73 0.105% $2,190.00 5Q 32 0.041% $960.00 $30.00 $30.00 0% 32 $960.00SAUCON PARKING PROHIBITED 5R 5 0.007% $150.00 5R 0 0.000% $0.00 $30.00 $30.00 0% 0 $0.00BLOCKING DRIVEWAY DURING SPECIAL EVENT 5S 2 0.003% $60.00 5S 8 0.010% $240.00 $30.00 $30.00 0% 8 $240.00RESERVED FOR HANDICAP-SPECIAL EVENT 6A 54 0.078% $5,400.00 6A 44 0.056% $4,400.00 $100.00 $100.00 0% 44 $4,400.00RESERVED FOR HANDICAP-SPECIAL EVENT BF 312 0.400% $31,200.00 $100.00 $100.00 0% 312 $31,200.00

Total 69,243 $878,000.00 Total 78,085 $1,026,695.00 61,957 $1,189,950Actual Ticket Revenue Collected $1,379,030.00 Anticipated Revenue Collected $1,576,839.00 Anticipated Revenue Collected $1,858,991

% Collected vs. Issued 157.065% % Collected vs. Issued 153.584% Adjusted for 20% Elasticity $1,487,193

25DRAFT

VA

N

RAMP UP

RAMP DOWN RAMP UP

59'

-6"

59'

-6"

2'-0

"

123

'-0"

9'-0"

TYP.

12" PRECASTCONC. LITEWALL PANEL

PRECASTCONC. SHEARWALL PANEL

C.I.P. CONC.RETAINING WALL

SURFACE LOT

A.D.

A.D.

A.D.

A.D.

16'

-0"

18' - 0" 24' - 0" 18' - 0" 18' - 0" 24' - 0"

9'-

0"

N

S

EW

2'-0

"1

23'-0

"

PRECASTCONC. FIRERATED WALLPANEL

A.D.

A.D.

18'

-0"

24'

-0"

18'

-0"

18'

-0"

24'

-0"

18'

-0"

VA

N

OFFICE

3rd LEVEL

LEVEL

GRADE LEVEL

CARS

87

872nd LEVEL

4th LEVEL

5th LEVEL

TOTAL w/ALT. 595

62

87

23

CAR COUNT

SURFACE LOT 30

ALT. 6th LEVEL

87

E. 3rd STREET

E. 2nd STREET

PO

LK

ST

RE

ET

FIL

LMO

RE

ST

RE

ET

159

0

(-3)

ADD.

27

27

27

27

0

1'-10"47'-0" 48'-0" 48'-0" 36'-0" 12'-0" 47'-0"

61'

-2"

61'

-0"

FUTUREEXPANSION

PEDESTRIANBRIDGEABOVE

PC COLUMN

61'-0"

68ALT. 7th LEVEL 27

6th LEVEL 64 27

TOTAL w/o ALT. 504 132

BET

HLE

HEM

PEN

NSY

LVA

NIA

©

BET

HLE

HEM

PAR

KIN

GA

UTH

OR

ITY

POLK

STR

EET

GA

RA

GE

A101

GRADE LEVELPLAN

26DRAFT

2'-0

"5

9'-

6"5

9'-

6"

RAMP UP RAMP DOWN

RAMP DOWN RAMP UP

2'-0

"




D.D.

D.D.D.D.

D.D. D.D.

D.D.

9'-0"

TYP.

16'

-0"

2'-0"47'-0" 48'-0" 48'-0" 24'-0" 12'-0" 47'-0"

123

'-0"

N

S

EW

PRECASTCONC. FIRERATED WALLPANEL

18'

-0"

24'

-0"

18'

-0"

18'

-0"

24'

-0"

18'

-0"

61'

-2"

61'

-0"

12'-0"

FUTUREEXPANSION

PEDESTRIANBRIDGE

BET

HLE

HEM

PEN

NSY

LVA

NIA

©

BET

HLE

HEM

PAR

KIN

GA

UTH

OR

ITY

POLK

STR

EET

GA

RA

GE

A102

TYPICAL LEVELPLAN

27DRAFT

123

'-0"

59'

-6"

59'

-6"

2'-0

"

9'-0"TYP.

RAMP DOWN

RAMP DOWN RAMP UP

2'-0

"



D.D. D.D.

D.D.

D.D.

16'

-0"

N

S

EW

18'

-0"

24'

-0"

18'

-0"

18'

-0"

24'

-0"

18'

-0"

FUTUREEXPANSION

2'-0"47'-0" 48'-0" 48'-0" 24'-0" 12'-0" 47'-0"

61'

-2"

61'

-0"

12'-0"

ELEV.A

ELEV.BSTAIR B

STAIR C

STAIRA

MEN'STOILET

WOMEN'STOILET

JANITORDATA

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE OFFICE

OFFICE OFFICE OFFICE

RECEPTION

MEETINGROOM

MEETINGROOM

RESOURCE ROOM

OPEN OFFICEAREACLASSROOM

CLASSROOM

CLASSROOM

CLASSROOM

CLASSROOM CLASSROOM CLASSROOM CLASSROOM CLASSROOM

CLASSROOM

CLASSROOM

READINGROOM

STUDENTLOUNGE

CORRIDOR

CORRIDOR

CORRIDORCO

RR

IDO

R

STORAGE

EL.283.5'EL.281.14'

PEDESTRIANBRIDGE1

0'-0

"

PRECAST COLUMN& BEAM BELOW

BET

HLE

HEM

PEN

NSY

LVA

NIA

©

BET

HLE

HEM

PAR

KIN

GA

UTH

OR

ITY

POLK

STR

EET

GA

RA

GE

A103

SIXTH LEVELPLAN

28DRAFT

123

'-0"

59'

-6"

59'

-6"

2'-0

"

9'-0"TYP.

RAMP DOWN

RAMP DOWN RAMP UP

2'-0

"



D.D. D.D.

D.D.

D.D.

16'

-0"

N

S

EW

18'

-0"

24'

-0"

18'

-0"

18'

-0"

24'

-0"

18'

-0"

FUTUREEXPANSION

2'-0"47'-0" 48'-0" 48'-0" 24'-0" 12'-0" 47'-0"

61'

-2"

61'

-0"

12'-0"

ELEV.A

ELEV.BSTAIR B

STAIR C

STAIRA

MEN'STOILET

WOMEN'STOILET

JANITORDATA

OFFICE

OFFICE

OFFICE

OFFICE

OFFICE OFFICE

OFFICE OFFICE OFFICE

RECEPTION

MEETINGROOM

MEETINGROOM

RESOURCE ROOM

OPEN OFFICEAREACLASSROOM

CLASSROOM

CLASSROOM

CLASSROOM

CLASSROOM CLASSROOM CLASSROOM CLASSROOM CLASSROOM

CLASSROOM

CLASSROOM

READINGROOM

STUDENTLOUNGE

CORRIDOR

CORRIDOR

CORRIDORCO

RR

IDO

R

STORAGE

EL.283.5'EL.281.14'

PEDESTRIANBRIDGE1

0'-0

"

PRECAST COLUMN& BEAM BELOW

RAMP UP

CONC. SHEARWALL PANEL

D.D.

D.D.

D.D.

LEVEL 6ALTERNATEPARKING

BET

HLE

HEM

PEN

NSY

LVA

NIA

©

BET

HLE

HEM

PAR

KIN

GA

UTH

OR

ITY

POLK

STR

EET

GA

RA

GE

A103A

ALTERNATESIXTH LEVELPLAN

29DRAFT

16'

-0"

123

'-0"

18'

-0"

59'

-6"

59'

-6"

2'-0

"

9'-0"TYP.

RAMP DOWN

RAMP DOWN RAMP UP

2'-0

"



D.D.

D.D.

D.D.

N

S

EW

18'

-0"

24'

-0"

18'

-0"

18'

-0"

24'

-0"

FUTUREEXPANSION

2'-0"47'-0" 48'-0" 48'-0" 24'-0" 12'-0" 47'-0"

61'

-2"

61'

-0"

12'-0"

D.D.


D.D.

D.D.

BET

HLE

HEM

PEN

NSY

LVA

NIA

©

BET

HLE

HEM

PAR

KIN

GA

UTH

OR

ITY

POLK

STR

EET

GA

RA

GE

A104A

ALTERNATESEVENTH LEVELPLAN

30DRAFT

4TH FLOOR EL. 281.14

5TH FLOOR

3RD FLOOR EL. 281.14

2ND FLOOR

6TH FLOOR

ROOF

1ST FLOOR

BASEMENT

12" PRECASTCONC. LITEWALL PANEL PRECAST


PEDESTRIANBRIDGE

PRECASTSPANDRELS

PRECASTCOLUMN

BET

HLE

HEM

PEN

NSY

LVA

NIA

©

BET

HLE

HEM

PAR

KIN

GA

UTH

OR

ITY

POLK

STR

EET

GA

RA

GE

A301

BUILDINGSECTION

31DRAFT

Disclosures: PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through separate agreements with each company. This material is for general information purposes only and is not intended to provide or give a specific recommendation. Financial advisory services are provided by PFM Financial Advisors LLC and Public Financial Management Inc. Both are registered municipal advisors with the Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) under the Dodd-Frank Act of 2010. Investment advisory services are provided by PFM Asset Management LLC which is registered with the SEC under the Investment Advisers Act of 1940. Additional applicable regulatory information is available upon request. Swap advisory services are provided by PFM Swap Advisors LLC which is registered as a municipal advisor with both the MSRB and SEC, a commodity trading advisor with the Commodity Futures Trading Commission, and a member of the National Futures Association. Consulting services are provided through PFM Group Consulting LLC. PFM financial modeling platform for strategic forecasting is provided through PFM Solutions LLC. For more information regarding PFM’s services or entities, please visit www.pfm.com. The information and any analyses contained in this presentation are taken from, or based upon, information obtained from the recipient or from publicly available sources, the completeness and accuracy of which has not been independently verified, and cannot be assured by PFM. The information and any analyses in these materials reflect prevailing conditions and PFM’s views as of this date, all of which are subject to change. To the extent projections and financial analyses are set forth herein, they may be based on estimated financial performance prepared by or in consultation with the recipient and are intended only to suggest reasonable ranges of results. Opinions, results, and data presented are not indicative of future performance. Actual rates may vary based upon market conditions at the time of pricing. The printed presentation is incomplete without reference to the oral presentation or other written materials that supplement it. To the extent permitted by applicable law, no employee or officer of PFM’s financial advisory business, nor any of PFM’s affiliated companies, accept any liability whatsoever for any direct or consequential loss arising from negligence or from any use of this presentation or its contents. Any municipal financial product or financial strategy referenced may involve significant risks, including, but not limited to: market, interest rate, or credit risk, and may not be suitable for all clients. The ultimate decision to proceed with any transaction rest solely with the client.

32

DRAFT

Documents

Bethlehem Parking Authority · 47) DEBT SERVICE COVERAGE RATIO 2.01x 2.19x 2.03x 1.46x 1.44x 1.33x 1.29x 1.30x 1.28x 1.26x 1.25x 1.22x 1.41x 1.59x 1.62x 1.62x RemainingPro ‐ FormaAssumptions