Name of City and/or County:
Appleton City
Name of Plan or Project:
1st Amended & Restated Appleton City Downtown TIF
Report Period:
Oct 1 2010 12:00AM to Sep 30 2011 12:00AM
Name of the Person Who Prepared this Annual Report:
Judy Wood
City or County Contact Agency:
Judy Wood, City Clerk
Private Sector Developer:
Food Fair of Appleton City
Original Date Plan/Project Approved:
Dec 1 2003 12:00AM
Most Recent Plan Amendment:
4/4/2007
School District:
Appleton City R-2 School District
Approximately 17 square blocks within the downtown area of Appleton City.
Description of Plan/Project:
Demolition of existing vacant buildings and new construction of retail spaces, rehabilitation of an existing full service grocery store, relocation of certain utilities and improvements to infrastructure.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual and extraordinary costs made the project financially unfeasible in the market, required significant public infrstructure 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 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:
$96,967.34
Amount on Hand:
$8,009.80
Economic Activity Taxes (EATs):
Total Received since inception:
$86,507.71
Amount on Hand:
$4,009.22
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:
This Reporting Period:
$0.00
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:
$366,186.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$366,186.00
ANTICIPATED TOTAL PROJECT COSTS:
$1,233,826.00
TIF FINANCING METHOD:
Pay-as-you-go
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
Current Anticipated Estimate (# of Year to Retirement):
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$814,200.00
Assessed Valuation Added to the Redevelopment Project:
$345,700.00
Anticipated Assessed Value at Time of District Termination:
$1,075,452.00
Total Amount of Base Year EATs:
$159,102.00
Total Amount of Base Year PILOTs:
$52,054.00
Total Annual EATs Anticipated at Time of District Termination:
$240,351.00
Total Annual PILOTs Anticipated at Time of District Termination:
$668,757.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
