CITY OF HARTFORD PUBLIC & PRIVATE PARTNERSHIP $56,000,000 HARTFORD STADIUM AUTHORITY LEASE REVENUE BONDS, SERIES 2015 Presenter: Treasurer Adam M. Cloud January 23, 2015

Table of Contents Overview Participants Stadium Authority Plan of Finance Financing Structure Chart Questions/Answers

Overview In the spring of 2014, the City of Hartford (“City”) reached an agreement with a minor league baseball team, New Britain, CT Rock Cats (‘AA’ affiliate of the Colorado Rockies), to relocate to the City for the 2016 season To accomplish the relocation, the City must construct approximately a 4,500 seat stadium. The stadium will be the anchor project for a $350 million development project called Downtown North or “DONO” that will consist of: the stadium, residential, commercial and entertainment venues The construction cost of the stadium is $56 million which the City has decided to finance through a special purpose entity, The Hartford Stadium Authority

Chief Operating Officer Private Development Team Participants/Partnerships Mayor City Treasurer City Council Chief Operating Officer New Britain Rock Cats Private Development Team CT Building Trades

The Stadium Authority The City is creating a public recreational facilities authority (the “Authority”) pursuant to Sections 7-130a through 7-130w of the Connecticut General Statutes (the “Act”) The Authority will be a public body politic and corporate of the State of Connecticut, and have the power, among other things: to acquire, purchase, lease as lessee, construct, reconstruct, improve, extend, operate and maintain projects; to sell, lease as lessor, transfer or dispose of any property or interest therein acquired by it; to fix and revise from time to time and to charge and collect fees, rents and other charges for the use of any project or facilities thereof; and to issue bonds of the Authority

The Stadium Authority The Authority will have five (5) members. The City Treasurer and the City’s Chief Operating Officer will be members and the City Council will appoint the other three members, who are named in the ordinance creating the Authority

Plan of Finance Pursuant to the Act, the Authority’s bonds will be payable from the revenues of the stadium The Authority plans to issue bonds backed by lease payments to be made by the City to the Authority pursuant to a lease agreement for the use of the Ballpark. The City currently owns the land where the Ballpark will be built That land will be ground leased to the Authority for the construction of the Ballpark The land and Ballpark will then be leased back to the City for annual rent payments equal the debt service payments on the Authority’s bonds The Authority will assign all of its right, title and interest in the lease, including the lease payments, to a trustee for the benefit of Bondholders   The Authority’s bonds will be sold based on the strength of the City’s commitment to appropriate the annual lease payments. A chart of the financing structure follows

Financing Structure Chart

Plan of Finance   Once the Authority is created, it will meet as soon as possible to choose officers, adopt bylaws and adopt a bond resolution authorizing the issuance of the bonds and the execution of all necessary documents The City has assembled an underwriting team to sell the Authority bonds to the public. Bond documents, including an offering document, are in the process of being drafted. Upon closing of the bond transaction, the proceeds of the bonds will be deposited into funds and accounts maintained by the trustee under a Trust Agreement, including a Project Fund and a Capitalized Interest Account $56 million for the construction of the Ballpark will be deposited to the Project Fund ix

BENEFITS OF THE FINANCING Created $20 million of savings by using tax-exempt bonds Created project labor agreement and community benefits agreement ( provides local hiring and local sourcing of goods and services) Partnered with unions to create financial savings and sustainable jobs