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Strafford TIF District
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Section 1 Description of the Plan and Project |
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Name of City and/or County: |
Strafford
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Name of Plan or Project: |
Strafford TIF District
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Report Period: |
01/01/2008 to 12/31/2008
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Name of the person who prepared this annual report: |
Darrell Gross, Gross & Assoc.
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Contact Information: |
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City or County Contact Agency: |
Sharon Mickey, City Clerk
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Phone: |
417-736-2154
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Private Sector Developer: |
Harter House Markets
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Person: |
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Phone: |
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Original Date Plan/Project Approved: |
09/03/2002
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Ordinance Number: |
488-02
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Most Recent Plan Amendment: |
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Ordinance Number: |
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State House District: |
145
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State Senate District: |
20
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School District |
Stafford School District
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Location: |
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The Development Area is along and on both sides of historic Route 66 and Main Street, including I-44 in Stafford.
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Description of Plan/Project: |
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To establish TIF development assistance in the district to make the area more attractive to developers.
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Plan/Project Status: |
Fully Operational
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Area Type: |
Blight, Conservation & Economic Development
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How was the "but-for" determination made?: |
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Unusual/extraordinary costs made the project financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development.
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Number of Relocated Residences During This Report Period: |
0
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Number of Relocation Businessess During This Report Period: |
0
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Number of Parcels Acquired Through Use of Eminent Domain Power During This
Report Period: |
0
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Identify any business that have relocation to the Redevelopment Area during this
report period: |
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- None -
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Estimate of New Jobs: |
30
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Actual To Date: |
35
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Estimate of Retained Jobs: |
0
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Actual To Date: |
0
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Section 2 Tax Increment Financing Revenues |
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TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE: |
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Payments in Lieu of Taxes (PILOTs): |
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Total Received since inception: |
$0.00
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Amount on Hand: |
$0.00
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(As of Report Date) |
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Economic Activity Taxes (EATs): |
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Total received since inception: |
$233,125.00
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Amount on Hand: |
$36,254.00
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(As of Report Date) |
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Total Revenue on hand in the Special Allocation Fund as of Report Date: |
$36,254.00
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EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF: |
Total Since Inception: |
Report Period Only: |
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Public Infrastructure (streets, utilities, etc): |
$0.00
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$0.00
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Site Development (grading, dirt moving, etc): |
$0.00
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$0.00
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Rehab of existing buildings: |
$0.00
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$0.00
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Acquisition of land or buildings: |
$350,000.00
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$0.00
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Other: |
$18,000.00
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$2,500.00
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AMOUNT PAID ON DEBT SERVICES: |
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Payments of principal and interest on outstanding bonded debt: |
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Since Inception: |
$0.00
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This Reporting Period: |
$0.00
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Reimbursement of developer for eligible cost: |
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Since Inception: |
$199,647.00
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This Reporting Period: |
$36,435.00
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Reimbursement to city/county (or other public entity) for eligible costs: |
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Since Inception: |
$0.00
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This Reporting Period: |
$0.00
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ANTICIPATED TIF REIMBURSEMENT COSTS: |
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Public Infrasture and Site Development Costs: |
$0.00
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Property Acquisition and Relocation Costs: |
$0.00
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Project Implementation Costs: |
$0.00
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Other: |
$0.00
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Other: |
$0.00
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Total Anticipated TIF Reimbursable Project Costs |
$0.00
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ANTICIPATED TOTAL PROJECT COSTS: |
$0.00
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TIF FINANCING METHOD: |
Pay-as-you-go
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MATURITY OF TIF OBLIGATIONS: |
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Original Estimate (# of Years to Retirement): |
23
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Current Anticipated Estimate (# of Year to Retirement): |
23
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ESTIMATED INCREASE IN TAX GENERATION: |
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Original assessed value of the redevelopment project: |
$1,191,760.00
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Assessed valuation added to the redevelopment project: |
$0.00
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Anticipated Assessed Value at Time of District Termination: |
$2,191,760.00
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Total Amount of Base Year EATs: |
$29,688.00
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Total Amount of Base Year PILOTs: |
$29,688.00
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Total Annual EATs Anticipated at Time of District Termination: |
$237,500.00
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Total Annual PILOTs Anticipated at Time of District Termination: |
$237,500.00
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Percentage of EATs Captured: |
50%
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Total Years Anticipated to Capture EATs: |
23
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Percentage of PILOTs Captured: |
50%
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Total Years Anticipated to Capture PILOTs: |
23
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