Hudson Yards Infrastructure Corporation

Hudson Yards Infrastructure Corporation^*

Fiscal	DIB Revenue⁽¹⁾	TEP Revenue⁽²⁾	ISP Revenue⁽³⁾	Other⁽⁴⁾	Investment Earnings	Total Revenue	Debt Service	Operating Expenses	Total to be Covered	Coverage on Total Revenue⁽⁵⁾
2006	$ 11,120	$ -	$ -	$ -	$ 59	$ 11,179	$ -	$ -	$ -	$ 393	$ 393	28.45⁽⁶⁾
2007	57,938	5,008	-	-	43,257	106,203	-	-	-	396	396	268.19⁽⁶⁾
2008	6,930	1,683	-	-	127,305	135,918	106,319	-	106,319	589	106,908	1.27⁽⁶⁾
2009	4,488	7,840	-	15,000	57,630	84,958	90,147	-	90,147	633	90,780	0.94⁽⁶⁾
2010	-	13,318	-	-	19,960	33,278	88,601	-	88,601	728	89,329	0.37⁽⁶⁾
2011	4,635	25,937	42,667	-	2,629	75,868	88,223	-	88,223	837	89,060	0.85⁽⁶⁾

(*) Date of inception of Hudson Yards Infrastructure Corporation was August 19, 2004.

HYIC first DIB collection was on September 21, 2005 and issued its first bonds on December 21, 2006.

(1) District Improvement Bonuses (DIB)

(2) Property Tax Equivalency Payments (TEP)

(3) Interest Support Payments (ISP)

(4) Grant from City

(5) ISPs are to be made by the City under the terms of Support and Development Agreement, which obligates the City to pay HYIC, subject to annual appropriation, an ISP amount equal to the difference between the amount of funds available to HYIC to pay interest on its current outstanding bonds and the amount of interest due on such bonds.

(6) Debt service payments are funded from excess prior years’ revenues and from current year revenues.

Source: Hudson Yards Infrastructure Corporation

Hudson Yards Infrastructure Corporation

Hudson Yards Infrastructure Corporation^*

The Comptroller

The Administration

Bureaus

Reports

News Room

Employment

Fiscal	DIB Revenue⁽¹⁾	TEP Revenue⁽²⁾	ISP Revenue⁽³⁾	Other⁽⁴⁾	Investment Earnings	Total Revenue	Debt Service			Operating Expenses	Total to be Covered	Coverage on Total Revenue⁽⁵⁾
Year	DIB Revenue⁽¹⁾	TEP Revenue⁽²⁾	ISP Revenue⁽³⁾	Other⁽⁴⁾	Investment Earnings	Total Revenue	Interest	Principal	Total	Operating Expenses	Total to be Covered	Coverage on Total Revenue⁽⁵⁾
2006	$ 11,120	$ -	$ -	$ -	$ 59	$ 11,179	$ -	$ -	$ -	$ 393	$ 393	28.45⁽⁶⁾
2007	57,938	5,008	-	-	43,257	106,203	-	-	-	396	396	268.19⁽⁶⁾
2008	6,930	1,683	-	-	127,305	135,918	106,319	-	106,319	589	106,908	1.27⁽⁶⁾
2009	4,488	7,840	-	15,000	57,630	84,958	90,147	-	90,147	633	90,780	0.94⁽⁶⁾
2010	-	13,318	-	-	19,960	33,278	88,601	-	88,601	728	89,329	0.37⁽⁶⁾
2011	4,635	25,937	42,667	-	2,629	75,868	88,223	-	88,223	837	89,060	0.85⁽⁶⁾

You are here

Hudson Yards Infrastructure Corporation

Hudson Yards Infrastructure Corporation*

Spending

Contracts

Payroll

The Comptroller

The Administration

Bureaus

Reports

News Room

Employment

Hudson Yards Infrastructure Corporation^*