Name of City and/or County:
Arnold
Name of Plan or Project:
Arnold Triangle Redevelopment Plan
Report Period:
9/1/2009 to 8/31/2010
Name of the Person Who Prepared this Annual Report:
Debra Lewis, Finance Director
City or County Contact Agency:
Matthew Unrein, City Administrator
Private Sector Developer:
THF Arnold Triangle Development, LLC
Original Date Plan/Project Approved:
9/15/2005
Most Recent Plan Amendment:
School District:
Fox C-6 School District
An area located at the southwest corner of I-55 and MO-141 in Arnold.
Description of Plan/Project:
Development of 50 acres of existing commercial and residential properties for retail and commercial purposes.
Plan/Project Status:
Fully Operational & Under construction
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made the project financially unfeasible in the market, required significant infrastructure investment to remedy existing inadequate conditions and required parcel ass'y 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 New Jobs:
300
Estimate of Retained Jobs:
5
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$1,173,614.95
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$3,377,871.98
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:
$1,330,955.83
$225,068.49
AMOUNT PAID ON DEBT SERVICES:
Payments of principal and interest on outstanding bonded debt:
Since Inception:
$2,476,327.63
This Reporting Period:
$2,476,327.63
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:
$10,000,000.00
Project Implementation Costs:
$11,000,000.00
Total Anticipated TIF Reimbursable Project Costs:
$21,000,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$90,000,000.00
TIF FINANCING METHOD:
TIF Bond; TIF Notes
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:
$1,700,400.00
Assessed Valuation Added to the Redevelopment Project:
$12,510,500.00
Anticipated Assessed Value at Time of District Termination:
$12,712,094.00
Total Amount of Base Year EATs:
$25,002.32
Total Amount of Base Year PILOTs:
$128,213.00
Total Annual EATs Anticipated at Time of District Termination:
$3,494,086.00
Total Annual PILOTs Anticipated at Time of District Termination:
$878,007.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
