Name of City and/or County:
Hermann
Name of Plan or Project:
Frene Creek TIF District
Report Period:
Jul 1 2010 12:00AM to Jun 30 2011 12:00AM
Name of the Person Who Prepared this Annual Report:
Delores Grannemann
City or County Contact Agency:
Delores Grannemann, City Clerk
Private Sector Developer:
Original Date Plan/Project Approved:
Jun 24 1996 12:00AM
Most Recent Plan Amendment:
4/10/2006
School District:
Gasconade Co R-1 School District
An elongated area along Frene Creek and extending east of downtown Hermann along MO Hwy 100 to and including the Hermann Industrial Park.
Description of Plan/Project:
Construction of improvements to infrastructure including streets, highway entrance, storm drainage retention and control. Site grading, retention walls, water & sewer improvements, etc.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
The project required significant public infrastructure investment to remedy existing inadequate conditions and construct adequate capacity to support development.
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 Retained Jobs:
20
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$803,729.11
Amount on Hand:
$106,920.37
Economic Activity Taxes (EATs):
Total Received since inception:
$979,982.90
Amount on Hand:
$160,380.56
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:
$1,211,387.74
This Reporting Period:
$170,142.95
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:
$1,498,900.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$86,974.00
Total Anticipated TIF Reimbursable Project Costs:
$1,638,874.00
ANTICIPATED TOTAL PROJECT COSTS:
$1,638,874.00
TIF FINANCING METHOD:
Pay-as-you-go
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
15
Current Anticipated Estimate (# of Year to Retirement):
4
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$836,150.00
Assessed Valuation Added to the Redevelopment Project:
$2,023,170.00
Anticipated Assessed Value at Time of District Termination:
$1,622,750.00
Total Amount of Base Year EATs:
$82,718.00
Total Amount of Base Year PILOTs:
$118,612.00
Total Annual EATs Anticipated at Time of District Termination:
$130,718.00
Total Annual PILOTs Anticipated at Time of District Termination:
$185,112.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
