CRA Refinancing CRA Refinancing.

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Presentation transcript:

CRA Refinancing CRA Refinancing

Current CRA Loan Branch Banking and Trust Company (BB&T) Loan Balance $3,360,000 Interest Rate 4.34% Average Annual Payment $365,000 Maturity Date December 1, 2024 CRA Refinancing

Refinancing Branch Banking and Trust Company (BB&T) Loan Balance $3,360,000 Interest Rate 2.29% Approximate Annual Savings $37,000 Estimated Savings Over Life of Loan $444,000 Estimated PV Savings Over Life of Loan $384,000 CRA Refinancing

New Loan Branch Banking and Trust Company (BB&T) Remaining Loan Balance $3,360,000 New Monies $2,240,000 Total Loan Amount $5,600,000 Interest Rate 2.29% Average Annual Payment $526,000 Maturity Date October 1, 2024 FY 2013 Budgeted Tax Revenues  $1,335,700 CRA Refinancing

Questions? CRA Refinancing