1111 Olive (352-127)
Section 1 Description of the Plan and Project  
Name of City and/or County: St. Louis  
Name of Plan or Project: 1111 Olive (352-127)  
Report Period: 07/01/2011 to 06/30/2012  
Name of the person who prepared this annual report: Dale E. Ruthsatz/Lisa Harmon  
Contact Information:    
City or County Contact Agency: Dale E. Ruthsatz, SLDC  
Phone: 314-657-3732  
Private Sector Developer: Infomedia, Inc.  
Person: Brad Pittenger  
Phone: 314-621-5500  
Original Date Plan/Project Approved: 03/06/2010  
Ordinance Number: 68590  
Most Recent Plan Amendment:  
Ordinance Number:  
State House District: 54  
State Senate District: 4  
School District City of St. Louis School District  
Location:    
The Project is located at 1111 Olive Street in downtown St. Louis.  
Description of Plan/Project:    
Mixed-use development on .56ac including renovation of a 5-story structure originally housing the Post Dispatch presses, more recently used by KSDK Television and the United Way into 7,900sf 1st floor retail & 77,000sf office with 10,000sf storage space.  
Plan/Project Status: Fully operational
Area Type: Blight  
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 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:    
- None -
Estimate of New Jobs: 80 Actual To Date: 0
Estimate of Retained Jobs: 0 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: $82,144.00 Amount on Hand: $0.00
    (As of Report Date)  
Economic Activity Taxes (EATs):      
Total received since inception: $26,977.00 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: $2,396,000.00 $2,396,000.00
AMOUNT PAID ON DEBT SERVICES:    
Payments of principal and interest on outstanding bonded debt:    
Since Inception: $99,553.00 This Reporting Period: $99,553.00
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: $9,568.00 This Reporting Period: $9,568.00
ANTICIPATED TIF REIMBURSEMENT COSTS:    
Public Infrasture and Site Development Costs: $0.00  
Property Acquisition and Relocation Costs: $0.00  
Project Implementation Costs: $0.00  
Other: $0.00  
Other: $0.00  
Total Anticipated TIF Reimbursable Project Costs $2,350,000.00  
     
ANTICIPATED TOTAL PROJECT COSTS: $11,750,583.00  
TIF FINANCING METHOD: TIF Notes  
MATURITY OF TIF OBLIGATIONS:    
Original Estimate (# of Years to Retirement): 23  
Current Anticipated Estimate (# of Year to Retirement): 21  
     
ESTIMATED INCREASE IN TAX GENERATION:    
Original assessed value of the redevelopment project: $270,600.00  
Assessed valuation added to the redevelopment project: $1,169,400.00  
Anticipated Assessed Value at Time of District Termination: $3,448,609.00  
Total Amount of Base Year EATs: $34.72  
Total Amount of Base Year PILOTs: $17,387.00  
Total Annual EATs Anticipated at Time of District Termination: $111,752.00  
Total Annual PILOTs Anticipated at Time of District Termination: $196,145.00  
Percentage of EATs Captured: 50%  
Total Years Anticipated to Capture EATs: 23
Percentage of PILOTs Captured: 100%  
Total Years Anticipated to Capture PILOTs: 23