Barstow Hospitality, LLC FY25 - Beginning Balance - 100.120.349 $ 173,094.78 * Agreement Period 10/1/2023 - 09/30/2028
Activity Description Hotel / Vendor Name Activity/AP Date TOT Period TOT Paid TOT Subsidy to Hotel
Operator
Revenue Recordation
Per True Up/Down
October thorugh Sept REMAINING BALANCE
AP CHECK Barstow Hospitality, LLC 6/30/2025 Apr - Jun 2025 $ 120,000.00 $ 173,094.78 TOT Payment Towne Place 10/29/2025 Jul 2025 - Sept 2025 $ 96,486.44 $ 269,581.22 TOT Payment Fairfield Inn 10/19/2025 Jul 2025 - Sept 2025 $ 83,861.97 $ 353,443.19 AP Check Barstow Hospitality, LLC 11/21/2025 Jul 2025 - Sept 2025 $ 120,000.00 $ 233,443.19 AP Check - Annual True Up Barstow Hospitality, LLC $ - $ 233,443.19 Revenue Recordation Acct# 100.410.230.141 $ 233,443.19 $ - TOT Payment Towne Place $ -
TOT Payment Fairfield Inn $ -
AP CHECK Barstow Hospitality, LLC $ -
TOT Payment Towne Place $ -
TOT Payment Farfield Inn $ -
AP CHECK Barstow Hospitality, LLC $ -
$ -
$ -
TOTALS: $ - $ - $ - $ -
Balance Acct# 100.120.349 $ -
$ -
Periods Not Aligned with FY Annual Period 1 Annual Period 2 Annual Period 3 Annual Period 4 Annual Period 5 10/1/2023 - 09/30/2024 10/1/2024 - 09/30/2025 10/1/2025 - 09/30/2026 10/1/2026 - 09/30/2027 10/1/2027 - 09/30/2028 Received 489,410.60 713,443.19
Reimbursed 418,069.29 480,000.00
True Up At Year End (Nov) 61,930.71
Total Paid Per Agreement 480,000.00 480,000.00 - - -
Total Recorded TOT Revenue 9,410.60 233,443.19
FY 2025/2026
As per agreement, upon the Hotel Operator commencing the commercial operation of the project as a hotel.....(the "Total Reimbursement Amount"), to be paid on a monthly basis in the amount of $40,000.00 per month, for a 60 month period….to the Hotel Operator. The Monthly Reimbursement Amount shall be reduced in any month during the Reimbursement Term in which the TOT receipts are less than $40,000.00 by an equal amount to the difference between the monthly reimbursement an the TOT receipts for such month....the "Annualized Reimbursement" will equal $480,000 (if) the TOT receipts for each such period will exceed $480,000.....At the end of each 12 month period....a true up shall occur that will cause the annualized reimbursement for such period to equal $480,000.00. The parties acknowledg that if the TOT receipts do not meet their expectations during the reimbursement term, the total reimbursement amount may be less than $2,400,000.00.
Total Payments per
Agreement