Hudson Yards Infrastructure Corporation

Export

(AMOUNTS IN THOUSANDS)

Fiscal	DIB Revenue⁽¹⁾	TEP Revenue⁽²⁾	ISP Revenue⁽³⁾	PILOMRT⁽⁴⁾	PILOT⁽⁵⁾	Other⁽⁶⁾	Investment Earnings	Total Revenue	Debt Service	Operating Expenses	Total to be Covered	Coverage on Total Revenue⁽⁷⁾⁽⁸⁾
2006	$ 11,120	$ -	$ -	$ -	$ -	$ -⁽⁹⁾	$ 59	$ 11,179	$ -	$ -	$ -	$ 393⁽⁹⁾	$ 393	28.45⁽⁶⁾
2007	57,938	5,008	-	-	-	-⁽⁹⁾	43,257	106,203	-	-	-	396⁽⁹⁾	396	268.19⁽⁶⁾
2008	6,930	1,683	-	-	-	-⁽⁹⁾	127,305	135,918	106,319	-	106,319	589⁽⁹⁾	106,908	1.27⁽⁶⁾
2009	4,488	7,840	-	-	-	15,000⁽⁹⁾	57,630	84,958	90,147	-	90,147	633⁽⁹⁾	90,780	0.94⁽⁶⁾
2010	-	13,318	-	-	-	-⁽⁹⁾	19,960	33,278	88,601	-	88,601	728⁽⁹⁾	89,329	0.37⁽⁶⁾
2011	4,635	25,937	42,667	-	-	-⁽⁹⁾	2,629	75,868	88,223	-	88,223	837⁽⁹⁾	89,060	0.85⁽⁶⁾
2012	2,951	27,679	79,347	-	-	155,595⁽⁹⁾	1,375	266,947	105,065	-	105,065	9,519⁽⁹⁾	114,584	2.33⁽⁶⁾
2013	3,261	32,647	-	11,097	-	-⁽⁹⁾	1,819	48,824	143,848	-	143,848	458⁽⁹⁾	144,306	0.34⁽⁶⁾
2014	10,827	38,553	38,130	13,873	-	-⁽⁹⁾	1,159	102,542	143,848	-	143,848	435⁽⁹⁾	144,283	0.71⁽⁶⁾
2015	193,652	48,563	28,047	-	4,036	-⁽⁹⁾	898	275,196	132,814	-	132,814	514⁽⁹⁾	133,328	2.06⁽⁶⁾
2016	45,183	58,656	-	22,496	4,969	-⁽⁹⁾	2,005	133,309	145,879	-	145,879	503⁽⁹⁾	146,382	0.91⁽⁶⁾
2017	20,705	70,545	-	31,384	10,947	-⁽⁹⁾	2,068	135,649	148,463	-	148,463	1,322⁽⁹⁾	149,785	0.91⁽⁶⁾
2018	75,099	84,332	-	17,782	31,710	-⁽⁹⁾	4,005	212,928	102,837	-	102,837	704⁽⁹⁾	103,541	2.06⁽⁶⁾
2019	38,638	113,347	-	70,532	31,008	8,824⁽⁹⁾	11,400	273,749	132,250	-	132,250	981⁽⁹⁾	133,231	2.05⁽⁶⁾
2020	120,907	129,847	-	57,130	120,754	1,776⁽⁹⁾	9,606	440,020	132,252	-	132,252	1,752⁽⁹⁾	134,004	3.28⁽⁶⁾
2021	-	154,361	-	6,423	127,396	-⁽⁹⁾	(787)	287,393	133,022	48,545	181,567	1,202⁽⁹⁾	182,769	1.57⁽⁶⁾

HYIC 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) Payments in Lieu of the Mortgage Recording Tax (PILOMRT)

(5) Payments in Lieu of Real Estate Tax (PILOT)

(6) Grant from City

(7) 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.

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

(9) In December 2011, HYIC was obligated to make an arbitrage rebate payment to United States Treasury for $8.8M. In February 2019, the 8.8M Payment was refunded back to HYIC.

Source: Hudson Yards Infrastructure Corporation

Fiscal	DIB Revenue⁽¹⁾	TEP Revenue⁽²⁾	ISP Revenue⁽³⁾	PILOMRT⁽⁴⁾	PILOT⁽⁵⁾	Other⁽⁶⁾	Investment Earnings	Total Revenue	Debt Service			Operating Expenses	Total to be Covered	Coverage on Total Revenue⁽⁷⁾⁽⁸⁾
Year	DIB Revenue⁽¹⁾	TEP Revenue⁽²⁾	ISP Revenue⁽³⁾	PILOMRT⁽⁴⁾	PILOT⁽⁵⁾	Other⁽⁶⁾	Investment Earnings	Total Revenue	Interest	Principal	Total	Operating Expenses	Total to be Covered	Coverage on Total Revenue⁽⁷⁾⁽⁸⁾
2006	$ 11,120	$ -	$ -	$ -	$ -	$ -⁽⁹⁾	$ 59	$ 11,179	$ -	$ -	$ -	$ 393⁽⁹⁾	$ 393	28.45⁽⁶⁾
2007	57,938	5,008	-	-	-	-⁽⁹⁾	43,257	106,203	-	-	-	396⁽⁹⁾	396	268.19⁽⁶⁾
2008	6,930	1,683	-	-	-	-⁽⁹⁾	127,305	135,918	106,319	-	106,319	589⁽⁹⁾	106,908	1.27⁽⁶⁾
2009	4,488	7,840	-	-	-	15,000⁽⁹⁾	57,630	84,958	90,147	-	90,147	633⁽⁹⁾	90,780	0.94⁽⁶⁾
2010	-	13,318	-	-	-	-⁽⁹⁾	19,960	33,278	88,601	-	88,601	728⁽⁹⁾	89,329	0.37⁽⁶⁾
2011	4,635	25,937	42,667	-	-	-⁽⁹⁾	2,629	75,868	88,223	-	88,223	837⁽⁹⁾	89,060	0.85⁽⁶⁾
2012	2,951	27,679	79,347	-	-	155,595⁽⁹⁾	1,375	266,947	105,065	-	105,065	9,519⁽⁹⁾	114,584	2.33⁽⁶⁾
2013	3,261	32,647	-	11,097	-	-⁽⁹⁾	1,819	48,824	143,848	-	143,848	458⁽⁹⁾	144,306	0.34⁽⁶⁾
2014	10,827	38,553	38,130	13,873	-	-⁽⁹⁾	1,159	102,542	143,848	-	143,848	435⁽⁹⁾	144,283	0.71⁽⁶⁾
2015	193,652	48,563	28,047	-	4,036	-⁽⁹⁾	898	275,196	132,814	-	132,814	514⁽⁹⁾	133,328	2.06⁽⁶⁾
2016	45,183	58,656	-	22,496	4,969	-⁽⁹⁾	2,005	133,309	145,879	-	145,879	503⁽⁹⁾	146,382	0.91⁽⁶⁾
2017	20,705	70,545	-	31,384	10,947	-⁽⁹⁾	2,068	135,649	148,463	-	148,463	1,322⁽⁹⁾	149,785	0.91⁽⁶⁾
2018	75,099	84,332	-	17,782	31,710	-⁽⁹⁾	4,005	212,928	102,837	-	102,837	704⁽⁹⁾	103,541	2.06⁽⁶⁾
2019	38,638	113,347	-	70,532	31,008	8,824⁽⁹⁾	11,400	273,749	132,250	-	132,250	981⁽⁹⁾	133,231	2.05⁽⁶⁾
2020	120,907	129,847	-	57,130	120,754	1,776⁽⁹⁾	9,606	440,020	132,252	-	132,252	1,752⁽⁹⁾	134,004	3.28⁽⁶⁾
2021	-	154,361	-	6,423	127,396	-⁽⁹⁾	(787)	287,393	133,022	48,545	181,567	1,202⁽⁹⁾	182,769	1.57⁽⁶⁾

You are here

Hudson Yards Infrastructure Corporation

Hudson Yards Infrastructure Corporation

(AMOUNTS IN THOUSANDS)