City of Minneapolis

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

THEATRE OPERATING RESULTS

2002

2003

CONTRACT COMMENCEMENT

YEARS 1 - 5

YEARS 6 - 10

YEARS 11 - 15

YEARS 16 - 20

YEARS 21 - 25

YEARS 26 - 30

ALL YEARS

OPERATING REVENUES

Rent Due Under Contract

-

500,000

562,800

652,400

756,300

876,800

1,016,400

21,823,500

Interest Income - Security Deposit

20,100

20,100

20,100

20,100

20,100

20,100

20,100

623,100

Net Box Office Revenues

536,417

518,098

-

Interest Income

15,052

9,852

-

Gross Use Fees

1,178,859

1,141,980

-

-

Net Concession and Merchandise

504,387

433,667

-

TOTAL OPERATING REVENUE

$

2,234,715

2,103,597

20,100

520,100

582,900

672,500

776,400

896,900

1,036,500

22,446,600

TOTAL OPERATING EXPENSES

$

2,543,664

2,494,236

-

-

-

-

-

-

-

-

ANNUAL NET OPERATING CASH FLOW

$

(308,949)

(390,639)

20,100

520,100

582,900

672,500

776,400

896,900

1,036,500

22,446,600

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

DEBT SERVICE RESULTS

2002

2003

CONTRACT COMMENCEMENT

YEARS 1 - 5

YEARS 6 - 10

YEARS 11 - 15

YEARS 16 - 20

YEARS 21 - 25

YEARS 26 - 30

ALL YEARS

RESTORATION FEE INCOME

$

1,210,820

UNKNOWN

NA

1,472,500

1,650,950

1,713,250

1,806,700

1,806,700

176,800

43,134,500

DEBT SERVICE PAYMENT - CITY OF MINNEAPOLIS

$

1,205,898

1,205,898

NA

1,230,200

1,414,100

1,695,600

1,978,650

2,292,000

519,800

45,651,750

INCREASE OR DECREASE IN DEBT SERVICE RESERVE

$

4,922

-

-

242,300

236,850

17,650

(171,950)

(485,300)

(343,000)

(2,517,250)

*

ANNUAL NET DEBT SERVICE CASH FLOW

$

-

UNKNOWN

NA

-

-

-

-

-

-

-

END OF YEAR 5th BALANCE FOR FUTURE YEARS DEBT SERVICE, INCLUDING INTEREST

1,320,500

2,908,300

3,655,600

3,548,200

1,714,900

-

-

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

CAPITAL PURCHASES

2002

2003

CONTRACT COMMENCEMENT

YEARS 1 - 5

YEARS 6 - 10

YEARS 11 - 15

YEARS 16 - 20

YEARS 21 - 25

YEARS 26 - 30

ALL YEARS

ANNUAL CAPITAL PURCHASES CASH FLOW

$

81,535

411,188

NA

152,300

176,500

204,600

237,200

275,000

318,800

6,822,000

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

RENT/MANAGEMENT

ANNUAL CASH FLOW ALL SOURCES

2002

2003

CONTRACT COMMENCEMENT

YEARS 1 - 5

YEARS 6 - 10

YEARS 11 - 15

YEARS 16 - 20

YEARS 21 - 25

YEARS 26 - 30

ALL YEARS

ANNUAL NET OPERATING, NET DEBT SERVICE

AND CAPITAL PURCHASES

$

(390,484)

UNKNOWN

20,100

367,800

406,400

467,900

539,200

621,900

717,700

15,624,600

* REPRESENTS INTEREST EARNED USED FOR DEBT SERVICE PAYMENT

AND THEREFORE CAN NOT CALCULATE THE TOTAL 2003 CASH OUTFLOW FOR CITY OF MINNEAPOLIS.