Name of City and/or County:
Bethany
Name of Plan or Project:
West Interstate Area Addition-South District
Report Period:
10/1/2008 to 9/30/2009
Name of the Person Who Prepared this Annual Report:
Becky Turley
City or County Contact Agency:
Jan Hagler, City Administrator
Private Sector Developer:
Original Date Plan/Project Approved:
11/21/1994
Most Recent Plan Amendment:
School District:
South Harrison R-2 Schools
160 acres in the east central area of the city of Bethany adjacent to I-35 and US 136 Hwy.
Description of Plan/Project:
Development of public infrastructure on the south side of US 136 Hwy west of I-35 to include streets, water, sewer, electric systems and gas service lines.
Plan/Project Status:
Under Construction
Area Type:
Blight; Economic Development
How was the "but-for" Determination Made?:
The project required significant public infrastructure investment to provide adequate capacity to support development in the area.
Number of Relocated Residences During This Report Period:
0
Number of Relocated Businesses During This Report Period:
0
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period:
0
Identify Any Businesses That Have Relocation to the Redevelopment Area During this Report Period:
Estimate of Retained Jobs:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$641,750.01
Amount on Hand:
$466,299.38
Economic Activity Taxes (EATs):
Total Received since inception:
$0.00
Amount on Hand:
$0.00
Total Revenue on hand in the Special Allocation Fund as of Report Date:
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF:
Total Since Inception:
Report Period Only:
Public Infrastructure (streets, utilities, etc):
Site Development (grading, dirt moving, etc):
Rehab of Existing Buildings:
Acquisition of Land or Buildings:
AMOUNT PAID ON DEBT SERVICES:
Payments of principal and interest on outstanding bonded debt:
This Reporting Period:
$0.00
Reimbursement of developer for eligible cost:
This Reporting Period:
$0.00
Reimbursement to city/county (or other public entity) for eligible costs:
Since Inception:
$207,324.52
This Reporting Period:
$65,652.95
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$670,000.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$0.00
ANTICIPATED TOTAL PROJECT COSTS:
$670,000.00
TIF FINANCING METHOD:
Pay-as-you-go
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
23
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$660,490.00
Assessed Valuation Added to the Redevelopment Project:
$2,496,070.00
Anticipated Assessed Value at Time of District Termination:
$0.00
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$6,021.22
Total Annual EATs Anticipated at Time of District Termination:
$0.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
0%
Total Years Anticipated to Capture EATs:
0
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
