Ellsinore TIF District
Section 1 Description of the Plan and Project  
Name of City and/or County: Ellsinore  
Name of Plan or Project: Ellsinore TIF District  
Report Period: 09/11/2012 to 09/30/2012  
Name of the person who prepared this annual report: Darrell Gross  
Contact Information:    
City or County Contact Agency: Lisa Schaffer, City Clerk  
Phone: 573-322-5333  
Private Sector Developer: Kearbey Enterprises, LLC  
Person: David Kearbey  
Phone: 573-322-5322  
Original Date Plan/Project Approved: 09/11/2012  
Ordinance Number: 131  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 153  
State Senate District: 3  
School District East Carter County R-2 School District  
Location:    
Two Areas: RPA-1 is located in the downtown area of Ellsinore; RPA-2 is located on U.S. Highway 60 in Ellsinore.  
Description of Plan/Project:    
Redevelopment of an old lumber yard into a home improvement store and a general merchandise store. Demolition of unsafe buildings and public improvements in RPA-1. RPA-2 extends utilities and other infrastructure for retail development on Hwy 60.  
Plan/Project Status: Under construction
Area Type: Blight  
How was the "but-for" determination made?:    
Unusual and extraordinary costs made projects financially unfeasible in the market and required significant public infrastructure investment to remedy existing inadequate conditions.  
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
Ross Oil Hwy 60 W RR2, Box 2111, Ellsinore, MO 63937 573-322-0999 N/A
Van Dykes 1 East Cleveland Ave., Ellsinore, MO 63937 573-322-5322 N/A
Estimate of New Jobs: 20 Actual To Date: 0
Estimate of Retained Jobs: 6 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: $0.00 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $0.00 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): $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: $0.00 $0.00
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: $0.00 This Reporting Period: $0.00
Reimbursement to city/county (or other public entity) for eligible costs:    
Since Inception: $0.00 This Reporting Period: $0.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $905,000.00  
Property Acquisition and Relocation Costs: $150,000.00  
Project Implementation Costs: $150,000.00  
Other: $180,750.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $1,385,750.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $3,404,750.00  
TIF FINANCING METHOD: Pay-as-you-go  
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: $435,700.00  
Assessed valuation added to the redevelopment project: $0.00  
Anticipated Assessed Value at Time of District Termination: $2,707,152.00  
Total Amount of Base Year EATs: $41,125.72  
Total Amount of Base Year PILOTs: $19,243.56  
Total Annual EATs Anticipated at Time of District Termination: $199,915.00  
Total Annual PILOTs Anticipated at Time of District Termination: $43,222.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 50%  
Total Years Anticipated to Capture PILOTs: 23