Name of City and/or County:
Jefferson City
Name of Plan or Project:
High Street Tax Increment Financing Plan
Report Period:
Oct 1 2006 12:00AM to Sep 30 2007 12:00AM
Name of the Person Who Prepared this Annual Report:
Melva Fast
City or County Contact Agency:
Melva Fast
Private Sector Developer:
Juanita Donehue
Original Date Plan/Project Approved:
Dec 5 2002 12:00AM
Most Recent Plan Amendment:
School District:
Jefferson City School District
900-902 East High Street in downtown Jefferson City
Description of Plan/Project:
Redevelopment of rehabilitation of the Kaulen Mercantile Co Bldg into a restaurant and lounge.Development includes construction of residential units on the 2nd, 3rd & basement levels. Public improvements to sidewalks, curb & gutters lighting
Plan/Project Status:
Fully Operational
How was the "but-for" Determination Made?:
Unusual and extraordinary costs made the project financially unfeasible in the market.
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:
0
TIF REVENUE DEPOSITS TO THE SPECIAL ALLOCATION FUND AS OF THE REPORT DATE:
Payments in Lieu of Taxes (PILOTs):
Total Received since inception:
$10,509.04
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$21,338.84
Amount on Hand:
$0.00
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:
$31,647.88
This Reporting Period:
$10,458.06
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:
$0.00
Property Acquisition and Relocation Costs:
$0.00
Project Implementation Costs:
$0.00
Total Anticipated TIF Reimbursable Project Costs:
$147,482.00
ANTICIPATED TOTAL PROJECT COSTS:
$147,482.00
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
14
Current Anticipated Estimate (# of Year to Retirement):
9
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$20,000.00
Assessed Valuation Added to the Redevelopment Project:
$255,000.00
Anticipated Assessed Value at Time of District Termination:
$300,000.00
Total Amount of Base Year EATs:
$8,046.47
Total Amount of Base Year PILOTs:
$3,482.26
Total Annual EATs Anticipated at Time of District Termination:
$0.00
Total Annual PILOTs Anticipated at Time of District Termination:
$0.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
14
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
14
