Arnold Triangle Redevelopment Plan
Section 1 Description of the Plan and Project  
Name of City and/or County: Arnold  
Name of Plan or Project: Arnold Triangle Redevelopment Plan  
Report Period: 09/01/2009 to 08/31/2010  
Name of the person who prepared this annual report: Debra Lewis, Finance Director  
Contact Information:    
City or County Contact Agency: Matthew Unrein, City Administrator  
Phone: 636-282-2383  
Private Sector Developer: THF Arnold Triangle Development, LLC  
Person: Alan Borenstein  
Phone: 314-429-0900  
Original Date Plan/Project Approved: 09/15/2005  
Ordinance Number: 14.376  
Most Recent Plan Amendment:  
Ordinance Number: 14.439  
State House District: 101  
State Senate District: 22  
School District Fox C-6 School District  
Location:    
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
Area Type: Blight  
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 Relocation Businessess During This Report Period: 0    
Number of Parcels Acquired Through Use of Eminent Domain Power During This Report Period: 0    
Identify any business that have relocation to the Redevelopment Area during this report period:    
Name Address Phone Number New or Relocated? Rel. from What City/County
none
Estimate of New Jobs: 300 Actual To Date: 775
Estimate of Retained Jobs: 5 Actual To Date: 5
     
Section 2 Tax Increment Financing Revenues    
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
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $3,377,871.98 Amount on Hand: $0.00
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $0.00
   
EXPENDITURES FOR TOTAL PROJECT COSTS FUNDED BY TIF: Total Since Inception: Report Period Only:
Public Infrastructure (streets, utilities, etc): $0.00 $0.00
Site Development (grading, dirt moving, etc): $0.00 $0.00
Rehab of existing buildings: $0.00 $0.00
Acquisition of land or buildings: $0.00 $0.00
Other: $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:    
Since Inception: $0.00 This Reporting Period: $0.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $0.00 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  
Other: $0.00  
Other: $0.00  
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