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Funding Plan <br />. Operating shortfalls at the three identified projects are maintained at constant levels <br />throughout the projection period, in the absence of projections beyond Year 1 estimates and <br />net of inflation. <br />For simplicity, pFD l"urrdirrg contributions to the proposed projects arc assumed in the entire <br />amounts as provided (totaling $3.1M annually). This is intended to demonstrate the PFD's <br />cumulative capacity to provide funding support, noting the following caveats: <br />1. phased implementation strategies, and corresponding funding contributions, are likely to <br />be implemented, subject to further due diligence by the PFD board of directors before <br />finalizing any operating subsidies for the proposed projects.2l <br />2. The pFD has the ability to adjust project support and selection. Also, each Project Sponsor <br />has the ability to adjust its reliance on PFD support over time.21 <br />As shown on the following page, accrued PFD revenues will be sufficient to cover all costs, <br />including operating funding for the proposed projects by Project Sponsors and its own <br />operating expenses, under either the Conservative or Moderate Scenarios in 2028, assuming <br />the PFD is formed and funded in Q1 -2027. <br />The pFD should be viewed as a flexible and scalable funding tool that can adapt to actual <br />revenue peformance and project timing. As such, the variables listed above could allow for <br />even greater revenue accrual by the PFD, if formed, prior to, and during, project operations. <br />""f,' jillltlill 21. t<*TrrAs couNTy DCCUr"lEr.'AroN Fo^ RFVTEW oF pr':D FORi'4ATloNt (rvl,\RCH 2u2o) <br />23