Name of City and/or County:
Branson
Name of Plan or Project:
Branson Hills Redevelopment Project
Report Period:
2011-10-01 00:00:00 to 2012-09-30 00:00:00
Name of the Person Who Prepared this Annual Report:
Jamie Rouch
City or County Contact Agency:
Jamie Rouch, Finance Director
Private Sector Developer:
Ozark Diversified Development Company
Original Date Plan/Project Approved:
2004-07-12 00:00:00
Ordinance Number:
2004-096
Most Recent Plan Amendment:
3/2/2005
141ac located at the northwest and southwest quadrants of the US 65 Hwy and Branson Hills Parkway intersection in Branson.
Description of Plan/Project:
Construction of approximately 290,000sf space for various national big box retail stores in Phase I; construction of 606,825sf shopping center for additional national big box and junior anchor stores and 8 outparcels in Phases II & III.
Plan/Project Status:
Fully operational
How was the "but-for" Determination Made?:
Unusual/extraordinary costs made projects financially unfeasible in the market, required significant public infrastructure investment to construct adequate capacity to support development 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 New Jobs:
750
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:
$2,863,966.00
Amount on Hand:
$0.00
Economic Activity Taxes (EATs):
Total Received since inception:
$14,684,091.00
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:
$21,962,115.00
This Reporting Period:
$4,123,433.00
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:
$24,865,799.00
Property Acquisition and Relocation Costs:
$19,234,509.00
Project Implementation Costs:
$3,899,692.00
Total Anticipated TIF Reimbursable Project Costs:
$48,000,000.00
ANTICIPATED TOTAL PROJECT COSTS:
$119,495,634.00
TIF FINANCING METHOD:
Other Bond
MATURITY OF TIF OBLIGATIONS:
Original Estimate (# of Years to Retirement):
23
Current Anticipated Estimate (# of Year to Retirement):
18
ESTIMATED INCREASE IN TAX GENERATION:
Original Assessed Value of the Redevelopment Project:
$15,970.00
Assessed Valuation Added to the Redevelopment Project:
$15,584,640.00
Anticipated Assessed Value at Time of District Termination:
Total Amount of Base Year EATs:
$0.00
Total Amount of Base Year PILOTs:
$0.00
Total Annual EATs Anticipated at Time of District Termination:
$1,170,000.00
Total Annual PILOTs Anticipated at Time of District Termination:
$738,000.00
Percentage of EATs Captured:
50%
Total Years Anticipated to Capture EATs:
23
Percentage of PILOTs Captured:
100%
Total Years Anticipated to Capture PILOTs:
23
