Name of City and/or County:
St. Robert
Name of Plan or Project:
Ramada Inn Redevelopment Project
Report Period:
6/1/2009 to 6/1/2010
Name of the Person Who Prepared this Annual Report:
Edna Givins
City or County Contact Agency:
Edna Givins, Finance Officer
Private Sector Developer:
Ehrhardt Properties
Original Date Plan/Project Approved:
12/14/2009
Most Recent Plan Amendment:
School District:
Waynesville R-VI
Located in the southwest quadrant of the intersection of Missouri Avenue and I-44 in St. Robert.
Description of Plan/Project:
A redevelopment project involving improvements to existing site improvements and construction of new buildings and other site improvements.
Plan/Project Status:
Under construction
Area Type:
Economic Development
How was the "but-for" Determination Made?:
The project required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development and required parcel assembly and/or relocation costs.
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:
50
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$0.00
Amount on Hand:
$0.00
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:
$2,500,000.00
$2,500,000.00
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:
This Reporting Period:
$0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:
Public Infrasture and Site Development Costs:
$0.00
Property Acquisition and Relocation Costs:
$2,500,000.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$2,500,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$8,600,000.00
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:
$1,008,700.00
Assessed Valuation Added to the Redevelopment Project:
$1,008,700.00
Anticipated Assessed Value at Time of District Termination:
$30,984,320.00
Total Amount of Base Year EATs:
$40,625.00
Total Amount of Base Year PILOTs:
$36,358.00
Total Annual EATs Anticipated at Time of District Termination:
$191,332.00
Total Annual PILOTs Anticipated at Time of District Termination:
$38,700.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
