First Amended I-70 Interchange Plan Project 1
Section 1 Description of the Plan and Project  
Name of City and/or County: Higginsville  
Name of Plan or Project: First Amended I-70 Interchange Plan Project 1  
Report Period: 09/30/2009 to 09/30/2010  
Name of the person who prepared this annual report: Richard Reyna, City Clerk & Ass't Admin.  
Contact Information:    
City or County Contact Agency: Donna Brown, Economic Development Director  
Phone: 660-584-2106  
Private Sector Developer: Pilot Travel Centers, LLC  
Person: Property Tax Department  
Phone: 419-421-3759  
Original Date Plan/Project Approved: 06/07/1999  
Ordinance Number: 1831 & 1832  
Most Recent Plan Amendment: 12/30/1999  
Ordinance Number: 1873  
State House District: 122  
State Senate District: 21  
School District Lafayette County C-1  
Location:    
67.5 acres located in the northeast quadrant of the I-70 and Mo Hwy 13 interchange in Higginsville.  
Description of Plan/Project:    
New construction of a Pilot Travel Center, installation of gasoline and diesel pumps, terminals, commercial space and approximately 180 parking spaces, demolition of an older gas station and related infrastructure work.  
Plan/Project Status: Fully operational
Area Type: Blight  
How was the "but-for" determination made?:    
Unusual/extraordinary costs made the project financially unfeasible in the market, required significant public infrastructure investment to remedy existing inadequate conditions and capacity to support development.  
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
McDonald's Restaurant 1865 Highway 13 (660) 584-8899 New
McDonald's Restaurant 1865 Hwy. 13 (660) 584-8899 New
McDonald's Restaurants 1865 Highway 13 (660) 584-8899 New
Estimate of New Jobs: 100 Actual To Date: 78
Estimate of Retained Jobs: 0 Actual To Date: 0
     
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: $593,382.00 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $578,350.00 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): $1,611,486.00 $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: $0.00 $0.00
AMOUNT PAID ON DEBT SERVICES:    
Payments of principal and interest on outstanding bonded debt:    
Since Inception: $1,166,394.00 This Reporting Period: $171,167.00
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: $4,476.00 This Reporting Period: $920.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $707,100.00  
Property Acquisition and Relocation Costs: $0.00  
Project Implementation Costs: $116,500.00  
Other: $803,280.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $1,626,880.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $8,100,000.00  
TIF FINANCING METHOD: Loan  
MATURITY OF TIF OBLIGATIONS:    
Original Estimate (# of Years to Retirement): 23  
Current Anticipated Estimate (# of Year to Retirement): 14  
     
ESTIMATED INCREASE IN TAX GENERATION:    
Original assessed value of the redevelopment project: $15,438.00  
Assessed valuation added to the redevelopment project: $954,693.00  
Anticipated Assessed Value at Time of District Termination: $3,461,250.00  
Total Amount of Base Year EATs: $0.00  
Total Amount of Base Year PILOTs: $0.00  
Total Annual EATs Anticipated at Time of District Termination: $6,418,465.00  
Total Annual PILOTs Anticipated at Time of District Termination: $6,418,465.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 50%  
Total Years Anticipated to Capture PILOTs: 23