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Additional Documentation

Following the notiIication oI the PreIerred Proponent, the City is working towards Iinancial close oI
the transaction in May oI 2014. As part oI the Iinancial close oI the transaction, the City may need
to enter into the additional documentation to give Iull eIIect to the Project Agreement. The
additional documentation could include such items as agreements with lenders, warranty
certiIicates, undertakings, closing certiIicates and legal opinions, all oI which are typical Ior large
commercial transactions oI this type. Administration is seeking delegated authority Ior the Deputy
City Manager & COO to approve such additional documentation.

Financial Modelling

As noted, the commercial and Iinancial close process is expected to be completed in May oI 2014.
To ensure the proper authorities are in place to enter into this contract, it is important to ensure City
Council is aware oI the most current Iinancial estimates related to the project.

On January 28, 2013 (CR13-6) City Council approved the Iinancial model Ior the Project. As the
Project is now at a more advanced stage, the model can be updated with more recent and accurate
inIormation. This report provides City Council with a Iinancial model that has been updated with
the inIormation known to date, and shows no changes to the overall Iinancial commitment Iigures
relating to capital cost, total debt, or mill rate increases, as previously contemplated and approved
by Council.

The Iinancial model Ior the Project approved by Council (CR13-6) and contemplated below
includes the pursuit oI up to $200.4 million in debt over a period oI 30 years. This represents the
$100.0 million loan Irom the Province Ior capital that was approved by Council (CM 14-1) and an
additional $100.4 million City debt, which includes $67.4 million City debt Ior capital and $33.0
million City debt Ior interim cash Ilow purposes in 2015.

As the procurement phase oI the Project is nearly complete, the City (working with the
Saskatchewan Roughrider Football Club Inc. and the Regina Exhibition Association Limited) has
obtained more accurate Iinancial, costing and operational estimates Irom which it can update the
Iinancial model Ior the Project.

The Iollowing is the most up to date Iinancial model as oI March 2014:

Expenditure Expense
Amount
(in millions $)
Funding Source Funding
Amount
(in millions $)
Capital Cost Capital Funding
Capital Stadium 250.0 Provincial Grant 80.0
Capital Site Preparation 28.2 Provincial Loan 100.0
SRFC 25.0
City Land Contribution 3.3
City Cash 2.5
City Loan 67.4
Total Capital Cost 278.2 Total Capital Funding Sources 278.2

Maintenance & Debt Servicing Costs Maintenance & Debt Servicing Funding
Maintenance 188.8 SRFC Facility Fee 104.6
Provincial Loan Principal Payments 100.0 SaskSport Lease Agreement 75.0
Provincial Loan - Interest Payments 76.1 Property Tax 308.9
City Capital Debt Principal Payments 67.4 Interim Debt 33.0
Mosaic Cost Avoidance 23.8
City Debt Interest Payments 56.7 Advertising/Sponsorships 15.0
City Interim Debt Financing Principal
and Interest Payments
59.3 Interest Earned 9.6
Total Maintenance & Debt Servicing
Costs

548.3
Total Maintenance & Debt Servicing
Funding Sources

569.9
Contingency 21.6
Total 569.9