Name of City and/or County:
Branson
Name of Plan or Project:
Branson Hills 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:
Ozark Diversified Development Co.
Original Date Plan/Project Approved:
7/12/2004
Ordinance Number:
2004-096
Most Recent Plan Amendment:
3/2/2005
Ordinance Number:
2005-021
School District:
Branson R-4
141 acres located at the northwest and southwest corners of Hwy 65 and Branson Hills Parkway in Branson.
Description of Plan/Project:
New construction of approximately 900,000sf retail in two Project Areas. Tenants include Home Depot, Target, TJ Maxx, Wal-Mart, Sam's Club & Kohl's Department Store and numerous outparcels.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual and extraordinary costs made the project financially unfeasible in the market, required significant public infrastructure investment to construct adequate 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 New Jobs:
750
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:
$1,398,309.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$10,118,135.00
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:
$13,680,752.00
This Reporting Period:
$3,647,275.00
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:
$24,865,799.00
Property Acquisition and Relocation Costs:
$19,234,509.00
Project Implementation Costs:
$3,899,692.00
Total Anticipated TIF Reimbursable Project Costs:
$48,000,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$119,495,634.00
TIF FINANCING METHOD:
Other Bond
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
20
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
Assessed Valuation Added to the Redevelopment Project:
$714,280.00
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:
$900,000.00
Total Annual PILOTs Anticipated at Time of District Termination:
$700,000.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
