Arnold Crossroads Redevelopment Plan
Section 1 Description of the Plan and Project  
Name of City and/or County: Arnold  
Name of Plan or Project: Arnold Crossroads Redevelopment Plan  
Report Period: 09/01/2010 to 08/31/2011  
Name of the person who prepared this annual report: Deborah Lewis, Finance Director  
Contact Information:    
City or County Contact Agency: Matthew Unrein, City Administrator  
Phone: 636-282-2383  
Private Sector Developer: Arnold Crossroads, LLC  
Person: Larry W. Jones  
Phone: 636-458-0545  
Original Date Plan/Project Approved: 07/07/2005  
Ordinance Number: 14.370  
Most Recent Plan Amendment:  
Ordinance Number: 14.369  
State House District: 101  
State Senate District: 22  
School District Fox C-6 School District  
Location:    
43ac at the NE corner of I-55 and MO-141 in Arnold.  
Description of Plan/Project:    
Redevelop existing retail and commercial area.  
Plan/Project Status: Fully operational
Area Type: Blight  
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 remedy existing inadequate conditions and required parcel ass'y and/or relo 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
Deborah Fry Massage Therapist 141 Arnold Crossroads (636) 296-1218 New
Gordmans 235 Arnold Crossroads (636) 333-0870 n/a - expanding operations into city
none
One Main Financial 153 Arnold Crossroads (636) 282-0500 New
Travis Hoisington Massage Therapist 141 Arnold Crossroads (314) 917-3885 New
WingStop 3882 Hwy 141 (636) 287-9400 n/a - expanding operations into city
Estimate of New Jobs: 150 Actual To Date: 100
Estimate of Retained Jobs: 265 Actual To Date: 265
     
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: $90,006.90 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $286,102.08 Amount on Hand: $1,147.42
    (As of Report Date)  
       
Total Revenue on hand in the Special Allocation Fund as of Report Date: $1,147.42
   
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: $241,620.20 $157,032.41
AMOUNT PAID ON DEBT SERVICES:    
Payments of principal and interest on outstanding bonded debt:    
Since Inception: $0.00 This Reporting Period: $0.00
Reimbursement of developer for eligible cost:    
Since Inception: $6,290,305.05 This Reporting Period: $3,000,000.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $29,250.00 This Reporting Period: $0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $9,600,000.00  
Property Acquisition and Relocation Costs: $8,200,000.00  
Project Implementation Costs: $700,000.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $18,500,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $51,000,000.00  
TIF FINANCING METHOD: 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: $4,248,800.00  
Assessed valuation added to the redevelopment project: $2,483,500.00  
Anticipated Assessed Value at Time of District Termination: $6,600,000.00  
Total Amount of Base Year EATs: $101,154.00  
Total Amount of Base Year PILOTs: $339,300.00  
Total Annual EATs Anticipated at Time of District Termination: $1,239,373.00  
Total Annual PILOTs Anticipated at Time of District Termination: $455,400.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 100%  
Total Years Anticipated to Capture PILOTs: 23