Name of City and/or County:
Branson
Name of Plan or Project:
Branson Landing Redevelopment Project
Report Period:
10/1/2009 to 9/30/2010
Name of the Person Who Prepared this Annual Report:
Lori Helle, Finance Director
City or County Contact Agency:
Lori Helle, Finance Director
Private Sector Developer:
HCW Development Company, LLC
Person:
Richard Huffman, Marc Williams
Original Date Plan/Project Approved:
1/27/2003
Ordinance Number:
2003-016
Most Recent Plan Amendment:
5/31/2005
Ordinance Number:
2005-070
School District:
Branson R-4
A 77-acre tract in downtown Branson along Lake Tanneycomo.
Description of Plan/Project:
Construction of a 220,000sf convention center, a new town square, themed boardwalk, structured parking facility to support retail development of 175 shops, restaurants, etc, supporting private development of 450,000sf anchor retail, two hotels & condos.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made project financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development and required parcel ass/y and/or relo 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:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$4,211,351.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$26,330,505.00
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:
Since Inception:
$40,328,703.00
This Reporting Period:
$9,563,269.00
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:
$36,974,980.00
Property Acquisition and Relocation Costs:
$39,019,548.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$148,440,048.00
ANTICIPATED TOTAL PROJECT COSTS:
$148,440,048.00
TIF FINANCING METHOD:
TIF Bond; Other Bond
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
18
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
Assessed Valuation Added to the Redevelopment Project:
$0.00
Anticipated Assessed Value at Time of District Termination:
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
Total Annual EATs Anticipated at Time of District Termination:
$7,700,000.00
Total Annual PILOTs Anticipated at Time of District Termination:
$2,400,000.00
Percentage of EATs Captured:
100%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
